So-called "millennials," the generation of about 75 million Americans between the ages of 18 and 34, have been slower than previous generations to buy homes. Constrained by student debt and tighter lending practices, millennials have also been suspicious of entering the real estate market after the downturn. However, now that the market has consolidated and rents are rising, millennials are showing signs of interest in homeownership. In fact, a recent survey reveals that, while only 26% of millennials currently own homes, 71% want to purchase residences of their own. Spurred by a desire for greater privacy and the wealth-building power of homeownership, this generation of young Americans is ready to stake its claim. Be ready, sellers!

The number of…

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According to a survey by the National Association of Realtors, 83% of respondents viewed their homes as a good financial investment. The trouble is that when it's time to sell a property after the average seller has lived in it for a decade, emotions often overtake reason. Generally speaking, what a seller thinks his or her home is worth and the price he or she can actually sell it for are often two very different numbers. A seller should not think that buyers really care what the seller originally paid for the home or how much money has been put into improvements. The only number that matters is what someone is willing to pay for the property under the current circumstances.

Having comprehensive marketing materials provides potential buyers with…

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To be successful in today's real estate market, sellers must market their homes in ways that directly appeal to tech savvy buyers. Because they are used to getting information immediately on their mobile devices, many prospective buyers expect to view properties when it best suits them. No longer willing to wait for open houses, buyers often want to see a home as soon as possible. This means that sellers must exercise a but more flexibility in terms of making their homes ready for viewing, often on a moment's notice. On top of that, sellers should engage the services of an agent who knows how to market a home online with enticing photographs, video walk throughs, and social media commentary.

HINT: According to one online residential real estate…

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Defying conventional wisdom that holds that retirees either downsize their homes or move to a more favorable climate, seniors are now tending to "age in place", Three quarters of the people age 45 and over surveyed by AARP indicate that they will stay in their current homes as long as they can. With this emphasis on stability in mind, buyers with young families may want to select a home that speaks to more than their immediate needs. This selective approach to home buying may include a preference for ranch style homes that can accommodate older adults with limited mobility. It also may pay to view bedrooms with an eye toward converting them to hobby rooms and offices once the children leave the home.

HINT: Buyers with young families and long-term…

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Sellers must rely on their agents' recommendations to point out things that they can do to make their homes more attractive to prospective buyers. This includes removing sources of unpleasant odors that sellers may have grown so accustomed to that they are unaware that they pose a problem. People searching for homes often find themselves assaulted by the scent of cigarette smoke and cooking aromas that permeate the walls, floors, and furnishings. If sellers do not undertake deep cleanings, rug replacement, and other procedures needed to remove odors from their houses, they risk losing sales. Unpleasant odors can not only increase the time that a home spends on the market, they can reduce the sale price.

Hint: Air fresheners only mask odors. To…

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As interest rates on home mortgages have hovered at or near record low levels in recent years, prospective buyers and sellers have both derived potential benefits. For buyers, a low 30 year fixed mortgage rate means that they will be able to afford the most house for their money. For sellers, this greater buyer affordability translates to higher asking prices. However, as they as, "good things do not last forever." As the Federal Reserve continues to hint at the direction that interest rates will take, there is nowhere to go but up. The only question is, "When"?  According to a National Association of Realtors' forecast, rates will reach 5.3% in 2016. Can you afford to wait?  Give Rosa Agency, Inc. a call to discuss the home buying process 201-997-7860.

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While a clear title is one that is not burdened with defects such as liens, a "clouded" title has liens filed upon it that prevent the clear and smooth transfer of property. Both parties have every reason to look into issues such as unresolved liens and undischarged mortgages that might sabotage a sale. Instances of mortgages that have not been discharged can be quite pervasive after years of refinancing waves when attention may not have always been focused on properly recording property transactions with the registry of deeds. An alert real estate agent is aware of this possibility and makes sure that the closing attorneys look into such matters as soon as there are signatures on the contract. Hint: Title insurance insures against financial loss from…

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Real estate agents are the first to tell buyers to draw up lists of their needs and wants when embarking on their home searches. From there, it is a matter of prioritizing and comparing until buyers find properties that best match their requirements. On the other hand, some people "just know" when the fit is right. So, should they rely on their "sixth sense"? Well, there may be more to these supposed snap judgments than most realize. According to some research on the matter, "intuition" was defined as something that happens when the brain draws on past experiences and external cues to make a decision. It all happens so fast that some don't believe in it. Trust your intuition!

HINT: There is a difference between an intuitive sense that a house is right…

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If you rent, you know that rents have been rising to inordinately high levels. Therefore, if you are paying high rent, you owe it to yourself to compare the costs of owning with the costs of renting. In many areas, it’s now less expensive to own a home than to rent an apartment. The major financial benefits of owning a home come with taking tax deductions for mortgage interest and property taxes. Some homeowners may also take tax deductions for home offices. In addition, each month’s mortgage payment increases your equity in your home while a rent check only increases your landlord’s equity. Lastly, the longer you stay in your home, the more you stand to benefit from appreciation.

This may be the ideal time for you to consider purchasing property. Take…

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THE GREENING OF AMERICAN HOMES

When marketing their homes, sellers should highlight their efficient use of energy and natural resources. According to a recent study, 51 percent of builders and remodelers assert that it is easier to market eco-friendly “green” homes, and more than two-thirds of builders claim that their customers are willing to pay more for energy-efficient homes. It seems that increasing numbers of buyers are willing to pay any extra upfront costs that will lead to long-term savings. No longer satisfied with merely asking about utility costs, prospective buyers are now more likely to look deeply into the energy efficiency of heating and air-conditioning systems and appliances, as well as insulation values of windows, doors, walls, and…

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