DAN Real Estate

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Tips for Buyers in a Cooling Market

 

  • Now is the time to buy! So stick to your price and play hard to get. You have the luxury of waiting to capture the better deals and then negotiate your terms. If you drive around your area, you'll see that there is six to eight times the inventory on the market right now as there was a year ago, and homes are taking longer to sell. Take your time, make smart offers, and stick to your guns.
  • If you're an investor, target markets where speculation has run rampant over the past few years while also focusing on markets that are likely to boom in the next few years. You will be able to buy distressed properties at low prices and properties with tremendous appreciation potential at the same time.

 

 

In general, the common sense rules apply whether you're buying or selling and whether the market is hot or cool: educate yourself about the market, have specific goals in mind, understand what your financial resources are, and don't make any deal for the short term. In the long term, real estate is always the best investment around.


 

Seasonal Checklist

 

Time of Year: Fall

 

1)      Foundation and Basement

Inspect for signs of termite infestation

Check grading to assure that water will drain away from the foundation

Check basement or crawl space for dampness and/or leakage following wet weather

2)      Grounds and Yard

Drain outside water lines and hoses

Clean area wells, window wells, and storm drains

Check safety and reverse mechanism on electric garage door operators, adjust if needed

3)      Roofs

Check vent louvers, and chimney caps and housings for bird nests, etc.

Clean gutters and downspouts

Trim back tree limbs near or overhanging the roof

Sweep debris from flat or low sloped roofs

Evaluate roof for future replacement

Check antenna wires and supports

4)      Exterior Walls

Remove vines growing on exterior walls and siding

All bushes should be trimmed away from building

Evaluate all exposed wood exterior areas; apply sealants / paint or replace as needed.

5)      Electrical System

Check condition of lamp cords, extension cords, and plugs. Replace at first sign of wear or damage

Check exposed and overhead wiring for damage and missing insulation. Replace or repair as needed

Test ground fault circuit interrupters (GFCI’s)

6)      Heating and Cooling

Clean dirt and dust from around furnace

Remove window air conditioners for winter

Have heating and cooling system checked by a qualified service person

Service Humidifier and/or dehumidifier

7)      Plumbing

Check water heater.

Check flush valves, faucets, hose bibs, and supply and drainage piping, including those in basement and/or crawl space

Drain exterior water lines

8)      Doors and Windows

Check weather-stripping for damage and tightness of fit

Check and lubricate window hardware

9)      Interior Surfaces

Check all joints in ceramic tile, laminated plastics, and similar surfaces

Check grouting around tubs, showers, and sinks

10)  Fireplaces

Have all chimneys swept clean and inspect for safety.