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Contract
December 12, 2017

Geek Speak: Home Warranties

What’s the scoop with home warranties? Are they important? Do I need one?

Unlike a manufacturer’s warranty that covers an appliance for a certain amount of time, or a homeowner’s insurance policy that protects a home against catastrophic damages, a home warranty provides coverage for day-to-day breakage due to normal use.

A home warranty doesn’t expire–the plan can be renewed year after year.  Coverage can extend from appliances like dishwashers and water heaters to whole-house systems such as plumbing and electrical. Terms and limits vary by company and some offer additional coverage for specialty items like pools or wells. One of the companies we work with even covers the cost of re-keying an entire home–a huge benefit for a buyer right after a move.

Who Buys a Home Warranty?

That depends. In a competitive market, sellers may include a home warranty in the purchase price of their house. If buyers have concerns about dated appliances, they might ask a seller to include the coverage as part of the purchase agreement. Home warranties can also be purchased directly by a homeowner. They don’t have to be part of a home sale.

Kitchen AppliancesTop 3 Reasons to Purchase a Home Warranty:

Peace of Mind for Buyers – As a buyer, there’s comfort knowing that if something goes wrong, you won’t be out the expense of having to replace or repair an item in addition to all of the other moving and closing expenses.

Attractive Advantage – If a buyer is undecided between properties, the addition of a bonus like a home warranty may provide the deciding factor between homes.

Limited Liability – With a home warranty in place, a seller won’t have to worry about an appliance giving out and having to come up with the extra funds for replacement while their home is for sale.

If you’d like more information about home warranties, contact on of the geeks or tune in for this week’s episode of Grill The Geeks on The Property Geeks Facebook page where we’ll be talking to a colleague of ours who works for a home warranty company. We broadcast live every Thursday at 12pm Central time. Hope to see you there!

 

 

 

By The Property Geeks
Why Fall Is Best to Buy
September 26, 2017

Why Fall Might Be The Best Time To Buy A Home

A lot of people think the best time to buy a house is during the Spring market.

And, it is…

…in the sense that more houses are listed for sale in the Spring. But, there’s also a heck of a lot more buyers trying to buy those listings.

The thing is, some of the houses listed back in the Spring don’t end up selling. (Usually just because they were overpriced.)

Now, it isn’t like new listings don’t happen in the Fall. There are always new listings coming on the market. But it’s not like, just because it’s Fall and not Spring, prices are necessarily going to fall. In other words, new listings aren’t likely to list for a lot lower than you would have seen in the Spring.

However, the homeowners who did list back in the Spring are much more likely to be anxious (perhaps even desperate) to sell their home. They’ve created their own problem…they missed the boat by pricing too high.

Which is great news for you, if you’re looking to buy a home:

  • Less competition. (Many buyers stop looking at this time of year…for no good reason.)
  • Motivated sellers. (They’re sick of being on the market, and wondering why nobody bought their house.)

But it isn’t always easy to find those listings. They don’t wave a white flag or lower their price to some ridiculous amount everyone would notice. If only it were that easy…

Just because someone listed their home back in the Spring doesn’t mean they’ll be all that negotiable.

There are certain things a great real estate agent will know to look for.

And we love rolling up our sleeves and finding the ones we can most likely negotiate the best deals on.

So, do you have anything you want us to roll up our sleeves and look for? Real estate deals won’t just fall in your lap, but we can certainly help you find one this Fall.

Bonus
Want another reason to buy a home in the Fall?

You can take advantage of year-end sales to outfit your home!

Hardly anybody buys a home who doesn’t want (or need) to make improvements, however small. So why not coordinate your purchase with sales on items you’ll need? According to Consumer Reports, September is an ideal time for buying carpet and paint. In October lawn mowers go on sale, and the same goes for appliances and cookware in November.

By The Property Geeks
Independence Day, Real Estate
June 27, 2017

What Do Real Estate & Independence Day Have In Common?

What’s the first thing you think of when you think 4th of July?

Probably fireworks, right?

Okay, maybe you think about barbeques, pool parties, or parades first.

The point is, the first thought for most people isn’t about the nitty-gritty that we’re actually celebrating — our independence as a nation.

Deep down, we all know that’s what it’s all about. And we respect it. But, we’re also human. Who can blame us for enjoying our freedom watching fireworks, without giving all that much thought about everything our founding fathers did to get us here?

So it is in real estate…

There’s a lot of focus on the “fireworks” in real estate. The big, glorious, flashy, exciting moments. Like…

  • The moment your house first hits the market.
  • Seeing the pictures of your house all over the Internet.
  • Throngs of people walking through your first open house.
  • Receiving offers from buyers…maybe even multiple offers.
  • Going under contract.
  • Walking into “the” house, and falling in love with it.
  • Making an offer on the house you love, and having it accepted.
  • Closing on the sale or purchase of your home.

All really exciting “firework” moments.

But they’re not the full story. There’s a lot of stuff behind the scenes in order to get to those fun, celebratory moments. A lot of thought, knowledge, skill, and work… Not necessarily fun, or exciting stuff. But it’s all important. It’s all necessary to get to those spectacular “fireworks” moments.

Not that the behind the scenes stuff should be something you think about. As a consumer, you should enjoy the glorious moments. Leave the nitty-gritty to your agent.

Just know that there’s more to it than the “fireworks” you want to see when you buy or sell a house.

By The Property Geeks