Tuesday, August 02, 2016

Finally Coming Home: What a principal broker can do for you

There are milestones we all encounter as we journey through life — deciding upon a career we wish to pursue, choosing a mate, finding the place where we want to live and buying or renting a home there.
My name is Stephanie Samuelsohn and for nearly two decades, I have served as the principal broker at VantagePoint Realty, located at 605 Route 295 in Old Chatham.
Beginning next month, I will be penning a column — scheduled to appear on the last Thursday of the month in the Chatham Courier and the Register-Star — that will provide practical suggestions, expert advice and time and money saving tips to help with one of life’s greatest challenges — buying, selling or renting a home.
Dedicated to serving our customers who wish to find property in Columbia County and the Berkshires, VantagePoint Realty offers an array of services for residential, commercial, agricultural and rental clients. We market and list homes, represent buyers (buyer’s broker), provide information on comparable homes in the area and provide referrals to the best mortgage brokers, inspectors, appraisers and builders.
As an active member of the Columbia Greene Board of Realtors and a fully licensed real estate agent in New York and Massachusetts, I interact with dozens of real estate professionals on a daily basis gleaning current information ranging from properties that may be coming up for sale and not yet listed, to new home developments in the works, to national trends that may impact real estate locally.
It’s well-known that the real estate market can be viewed as a barometer for the overall state of the economy nationally — and differs from region to region. But customers all over the country are essentially the same: People struggling to find a home where they want in the price range they can afford.
In most cases the reason for their frustration is they have tried to do it on their own without the assistance of a professional real estate agent.
Most of us would never tackle projects such as installing a new roof, repairing a furnace or replacing rusty pipes for the kitchen sink. We would contact a reputable roofer, heating technician or plumber to do the job.
It’s the same if you are looking to buy, sell or rent property. Make the decision to enlist the expertise of a licensed real estate agent who can guide you through the process.
For example, the savvy real estate agent will recommend getting pre-approved or pre-qualified by a mortgage lender. This can boost your purchasing power when seeking a home.
Alternatively, when selling a home, even modest improvements can spur a buyer’s interest. Older homes, for example, may have small rooms that gives the impression of being closed in. By simply removing a wall or installing a large picture window, a new focal point and a relationship with the surrounding environs could produce big dividends for the seller.
Home sellers should be aware that many buyers would include contingencies in their offers, which often includes financing and the sale of their own homes. To avoid such maneuvers, sellers can take steps to protect their interests.
The seasoned real estate agent will advise that before accepting a financing contingency. Ask to see the buyer’s pre-approval letter from a well-established lender.
Likewise, it’s prudent to obtain financial disclosure information that outlines the buyer’s employment, income, assets and liabilities. Receipt of a meaningful, earnest, money deposit provides proof positive to underscore the buyer’s intentions.
Additionally, in the case of a home sale contingency — by countering with a proviso, should another more attractive offer be submitted — the seller will give the buyer 24 hours notice to remove the contingency or lose the house and get the deposit back.
To ensure your home is being publicized effectively, it’s the agent’s responsibility to “get the word out” in the realty publications and newspapers, conduct open houses, list the property on the Multiple Listing Service (MLS) and spread information via social media outlets such as Facebook, LinkedIn, Twitter and Pinterest.
Whether buying or selling make sure your real estate agent conducts a detailed market analysis, which compares the seller’s home to similar ones in the area that have sold recently. This comparison forms the basis of a listing price that both appeals to prospective buyers and ensures sellers of a proper return on their investment.
Stephanie Samuelsohn, principal broker at VantagePoint Realty, can be reached at 518-392-8482 or stephanie@columbiacountyhomes.com.

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