Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Five Mistakes to Avoid When Buying a Home – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Fri, 25 Jul 2014 15:35:45 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Here are five mistakes to avoid when buying a home! Not Getting Pre-Approved The first mistake to avoid when buying a home is understanding what a pre-approval is and not obtaining one. For starters, a pre-approval is very different than a pre-qualification.  A pre-qualification can normally be obtained by a simple phone call to a mortgage broker.  A mortgage broker will use information, such as income, debts, and assets, that is provided to them by the potential borrower to "qualify" them.  These pre-qualifications are subject to verification of the information provided by the potential borrower.  A pre-approval should be obtained prior to looking for a house in most cases.  A pre-approval requires a formal application be completed with the lender and the potential borrower will supply actual data (W-2's, Tax Returns, Bank Statements, etc.).  Once this information is collected, the application and documents are either ran through an automated system or reviewed by a mortgage underwriter, who will determine if the buyer has been approved.  There are often only a handful of "conditions" with a pre-approval, such as a satisfactory appraisal being completed once the borrower finds a suitable property. As you can see, a pre-approval is not the same as a pre-qualification.  If a buyer doesn't understand the difference, this can be a huge mistake.  In a real estate market that is seeing multiple offers on properties, having a pre-approval can be the difference and help the buyer win in a multiple offer situation!  A buyer must also be aware that some lenders use the two words, pre-approval and pre-qualification, interchangeably, which is not correct.  Bottom line, get pre-approved! Selecting the Wrong Real Estate Agent It is extremely important to a buyer or seller that they select the "right" real estate agent to represent their best interests.  So when buying a home, what makes a great buyer's agent? There are many things that a real estate agent must do to be successful, some may consider a great real estate agent a "jack-of-all-trades."  A great buyer's agent should be seen as an adviser or counselor, not a "salesperson."  They need to be able to discover the needs and wants of a buyer, educate them on current market conditions, help buyers locate homes that can potentially suit their needs, and much much more! In addition to the real estate "skills" that a great buyer's agent needs to have, there are also other things that should be taken into consideration.  It is important that a buyer feels comfortable with their real estate agent, as there are sometimes personal topics discussed, such as finances.  It's also important that a buyer understands how their real estate agent is able to communicate and determine if it's going to work for their situation.  If a buyer prefers e-mailing, then they better make sure their real estate agent is able to use e-mail and checks it regularly.  Yes, we said it, is able to use e-mail!  If a buyer prefers text messaging, they better make sure their agent can text message!  A great real estate agent should be able to adapt to their clients preferred method of communication! Not Listening To And/Or Taking the Advice of the Real Estate Agent Once a buyer hires the right real estate agent, now is the time to listen to their advice and trust them!  A buyer's agent should be working in the best interest of their client, the buyer!  An experienced buyer's agent should have the knowledge to guide a buyer through the transaction. When looking at homes, an experienced buyer's agent should be able to point out important things to look for while walking through the home, so pay attention and observe them!  Once a buyer finds their dream home and is ready to submit an offer, it's important they listen and/or take the advice of their real estate agent.  An experienced real estate agent should be able to supply information to a buyer so they can make a strong offer.  This is extremely important if the buyers local real estate market is a seller's market.  In a multiple offer situation, not taking the advice of the real estate agent can be the difference between a buyer having their offer accepted or a different buyer's offer accepted! Not Willing to Be Flexible When buying a home, flexibility is sometimes necessary.  A buyer who is not willing to be flexible will often have trouble getting to the closing table.  For example, a buyer who is buying a home that is occupied, should be willing to be flexible with the closing date and/or possession date.  A home owner who has lived in a home for 10 years and has accumulated 10 years of "things" may not be able to have the house in "broom-clean" condition the day of closing if they are closing on a home of their own that same day!  A buyer may have to agree to give the seller a couple days post possession or "rent-back" so they have time to move out of their home.  If a buyer is not willing to be flexible, it can often lead to many offers being rejected. Having Unrealistic Expectations Last but certainly not least, one of the mistakes that needs to be avoided when buying a home is having unrealistic expectations!  When buying a home, the first thing that a buyer needs to understand is their local real estate market and what their budget will buy them (their agent should be able to help them with this).  A buyer who is pre-approved for $100,000 mortgage, cannot expect to get a home that is 3,000 square feet, 4 bedrooms, 3 baths, and located on waterfront.  Buyers need to be educated on what their money will get them in the market.  As listed above, a great real estate agent should be able to help set realistic expectations and get their client a home they will love! Once a buyer has realistic expectations on what their money will get them, the next common mistake is being unrealistic when it comes time to make an offer.  It is so common to hear, "Zillow's "Zestimate" said this home was worth $150,000 and it's listed at $200,000, it is WAY overpriced, so lets offer $150,000!"  Also, another common misconception that a buyer has, is thinking that the "assessed value" is the same as market and/or appraised value.  Everybody loves a deal, but a buyer needs to have realistic expectations when placing an offer on a home.  Sure it is possible for a home to be overpriced by $50,000, but for the most part, this is not the case and a buyer shouldn't expect to "steal" the sellers home! If a buyer is able to understand what their money will get them and are able to have their offer accepted, another common unrealistic expectation results from a home inspection.  Home inspections are a very common contingency in most real estate transactions.  The main purpose of a home inspection is to ensure the house doesn't have any serious safety issues or deficiencies.  The purpose is not to have the seller replace and repair every little thing in the home.  There are certain things that are more commonly found during a home inspection, but a buyer needs to have realistic expectations.  If a buyer believes a seller is going to replace a furnace that is 10 years "old" because the home inspector said it was not as "efficient" as a newer furnace, it most likely is not going to happen.  Having unrealistic expectations of what a home inspection is and what the purpose is, will often lead to a buyer never getting past the property inspection contingency. Buying a home is a big step and a major investment in anyone's life!  There are many emotions and feelings a buyer experiences.  It's important that a buyer stays focused and tries at all costs to avoid the above five common mistakes!  While not easy, with the correct research, preparation, and professional advice, these and other mistakes can be avoided! Other Useful Buying Resources
About the authors:  The above article "Five Mistakes to Avoid When Buying a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>