Real Estate Information

Debra Griggs & Partners's Blog

Debra Griggs & Partners

Blog

Displaying blog entries 1-5 of 5

Talking Points With An Agent

by Debra Griggs & Partners

A list of talking points can be very valuable to guide the conversation with an agent that will lead to a decision to have him or her represent you in the sale of your home.  If you haven’t been through the process before or it has been a while, the answers to these questions can reveal things about the experience and where-with-all of your candidate.

Even if you only intend to interview one agent and maybe they are a trusted friend, it is appropriate to understand how different issues will be handled.  Professionals should not feel challenged to discuss these important concerns.

1. Tell me about your experience and training.

2. Do you work real estate full-time?

3. Are you a REALTOR® and a member of MLS?

4. What is the average price of the homes you have sold and how many did you sell last year?

5. Which neighborhoods do you primarily work?

6. How many homes have you sold in my neighborhood?

7. What is your list price to sales price ratio?

8. How many buyers and sellers are you currently working with?

9. Tell me about the positives and negatives of my home?

10. Describe your marketing plan for my home and if you will use outside professionals.

11. Specifically address Internet exposure, open houses and showings.

12. Describe how you’ll keep me informed all along the way.

13. Will I work directly with you or with team members?

14. Can you provide me with three recent references?

You might have noticed that price was not in the list of talking points.  The seller sets the price but the market and the buyer determine the value.  The agent can advise you about the proper range that will insure activity and ultimately affect your final proceeds.  The advice should be based on facts that are available to all agents as well as the prospective buyers and the appraisers.

The decision to list a home with a particular agent and company should never be based on the listing price suggested by the prospective agent.

Home Safety & Security Tips

by Debra Griggs & Partners

 

Home Safety & Security Tips

house-padlock.png

A quick once-over of the items on this list may improve the safety and security of your home and could protect your family and friends. It is important to periodically pay attention to these things because things change over time.

Security

  • Does each exterior door have a deadbolt?
  • Does the lock on each window work?
  • Have you added pins or clips to your windows for additional security?
  • Do you have dowels or broom sticks in the track of windows and sliding glass doors?
  • Do you have security company labels or signs displayed prominently?
  • Do you have an alarm system? Is the system monitored?
  • Do you have a dog that barks when strangers approach the home?
  • Are emergency numbers posted near the telephones?

Fire

  • Do you have smoke detectors near all sleeping areas?
  • Do you check the batteries monthly and change them annually?
  • Do you have two carbon monoxide detectors?
  • Do you have an escape ladder for upper floors?
  • Do you have fire extinguishers near exits and in the kitchen?
  • Do you have an emergency escape plan and is the family familiar with it?
  • Are any outlets or switches warm to the touch?
  • Are kitchen ventilation systems working properly?
  • Is the dryer ventilated to the outside and is the exhaust free of lint?
  • Is the furnace cleaned and serviced yearly?
  • Is the space around the hot water heater clear of combustible materials?

Falls

  • Are all electrical and phone cords out of the flow of traffic?
  • Are rugs and runners slip resistant?
  • Is your step-stool sturdy and in good condition?
  • Are stairs clear of objects that could cause a fall?
  • Are all entrance ways, exits, halls and walks well lighted?
  • Do bath tubs and showers have non-skid strips or suction mats in them?

Other

  • Do you keep drugs and medicines out of reach and sight of small children?
  • Are interior doors designed so small children cannot lock themselves in rooms?
  • Are pool and play areas fenced to keep small children in and uninvited guests out?
  • Are firearms kept out of reach and sight of children?
  • Is a well-stocked first aid kit available for emergencies?
  • Is there one member of your family trained in first aid, CPR and the Heimlich maneuver?

Star Spangled Banner

by Debra Griggs & Partners

Star Spangled Banner

Our American flag is obviously the symbol of our country but it has come to remind us of every man and woman who has fought for the freedom that we enjoy. The emotions that are stirred by images of our flag can run from happiness to sadness to even anger and everything in between.

Most of us learned basic flag etiquette when we were young but occasionally, it is a good idea to review the procedures so that we treat the flag with the respect that it deserves.

  • The U.S. flag should not be flown at night unless a light is shown on it.
  • The flag should never touch the ground.
  • The U.S. flag should not be flown upside down except as a distress signal.
  • A U.S. flag should be displayed at the peak of the staff unless the flag is at half-staff.
  • When displaying multiple flags of a state, community or society on the same flagpole, the U.S. flag must always be on top.
  • When flown with flags of states, communities or societies on separate flag poles which are of the same height and in a straight line, the flag of the United States is always placed in the position of honor - to its own right. No flag should be higher or larger that the U.S. flag. The U.S. flag is always the first flag raised and the last to be lowered.
  • When the U.S. flag is flown with those of other countries, each flag should be the same size and must be on separate poles of the same height. Ideally, the flags should be raised and lowered simultaneously.

Second Homes Treated Differently

by Debra Griggs & Partners

Second Homes Treated Differently

While a principal residence and a second home have some similar benefits, they have some major differences. A principal residence is the primary home where you live and a second home is used for personal enjoyment while limiting possible rental activity to a maximum of 14 days per year.

The Mortgage Interest Deduction allows a taxpayer to deduct the qualified interest and property taxes on a principal residence and a second home. The interest is limited to a maximum of $1,000,000 combined acquisition debt and a combined $100,000 home equity debt for both the first and second homes.

The gain on a principal residence has a significant exclusion for taxpayers meeting the requirements. The gains on second homes must be recognized when sold. Even if you sell a smaller second home and invest all of the proceeds into a larger second home, you'll need to pay tax on the gain.

Tax-deferred exchanges are not allowed for properties having personal use including second homes.

If the home is owned for more than 12 months, the gain is taxed at the long-term capital gains rate. If the home is owned for less than 12 months, the gain is taxed as ordinary income which would be a considerably higher rate.

The article is intended for informational purposes. Advice from a tax professional for your specific situation should be obtained prior to making a decision that can have tax implications.

I'm Making a Prediction

by Debra Griggs & Partners

I've sold real estate in Hampton Roads for nearly 30 years and I don't believe I have ever, even when pressed, predicted the future for real estate but I'm doing it now.

I believe the summer of 2012 will be remembered.  It will go something like this..."it was in the summer of 2012 that the market shifted, prices started inching up, and the buyer's market ever so subtly became a seller's market".

I'm seeing it and feeling it.  I'm hearing the same from other agents.  Things have...shifted.

Rightly priced houses are not setting on the market; in fact, they are selling swiftly.  And multiple offers are becoming more and more common.

If you're a seller, this is very good news.  Price your house fairly and get ready to move!

And, if you're a buyer, it's all good.  We're not looking back on the summer of 2012, the time is now!  Rates are at unheard of lows and you have an unprecedented opportunity to take advantage of good prices with low rates before both start climbing.  

When you look back, I hope your reflection on "the summer of 2012" is a good one and, as always, I'm here to help.  If you need a great Realtor, I know one and if you want to adopt a dog or cat, I can fix you up...www.artanimals.org

Displaying blog entries 1-5 of 5

Syndication

Categories

Archives

Contact Information

Photo of Debra Griggs & Partners Real Estate
Debra Griggs & Partners
RE/MAX Ambassadors
520 W 21st Street, Suite K
Norfolk VA 23517
(757) 725-1705
Fax: (757) 216-9272