Tag: realtor

Buyer Beware; that goes for renters too.

 

SCAM ALERT!!!!

This is just another in a long list of reasons to ONLY work with a licensed Real Estate Agent.

I have been getting emails from people about this, articles from other parts of the country and lately a few calls at the office. Tonight it hit home. I listed a lovely home in a beach area of Milford this week.  The owner just called me and said that someone drove by after I left the open house and asked the neighbor if the house was for rent. The neighbor said no it’s for sale why? “We saw it for rent on Craigs List”.

Now, I know some agents put their listings on Craigs List; I do not and I don’t see any reason to. We have so many avenues to advertise a listing and quite frankly there are far too many scammers out there.   It’s a hit and run type of thing. They list it for a couple days if they get a bite they take it and then delete it. I just looked and it is no longer there. I have a bad feeling someone is out some money. Does it happen on some other sites too? Of course; that’s why I always say, use a licensed real estate agent.

Here is how it works. Ad says “Lovely 3BR home for rent with views of beach; within walking distance. Available weeks _________ and ___________. Call (out of state owner) at 555-555-5555 to reserve.” When you talk to them they tell you to send them a bank check for the week, month, whatever. I mean, they don’t know who you are, how do they know your check will be good. They then tell you, after they receive, they will call you to let you know where to pick up the keys. I bet their brother or other family member lives on the same street; you’re out cash and a place to hang your hat.

This doesn’t just happen with vacation rentals. Long term rentals too and I can understand how you can be rooked into these things. Some people, in this economy especially, are having a hard time getting a landlord to give them a chance, especially if you have lost a home, are unemployed or just building your life back up. It’s very tempting to fall for someone that sounds so understanding over the phone. DON’T DO IT!! Oh, and don’t fall for, “I’m renting it for my mother, my cousin who is serving in Iraq, blah blah blah.” It needs to be done in person, see the place, proof of ownership and/or power of attorney for the owner.

There is a very easy way to check out and see if someone is legit too. Go to the town hall and look up the tax record, see who owns the property. It takes about a minute and could save you a lot of money, time and disappointment. But, the best way to do this……..USE A LICENSED REALTOR. If we have done our job, we already know all this. You can rest assured that the rental you are paying for will be the place you lay your head at night.

 

Young Professionals – Buy or Rent

 

This was a topic suggested by a friend who I keep up with on Facebook. The reason I keep up with him on Facebook is he is always traveling. His job has him all over the place and quite honestIy I love living vicariously through him; he seems to be having a great time. My suggestion to him was “I think you need a motor home.”

In all seriousness though, owning a home is not for everyone. We now live in a very small world. Think about it. 50 years ago you found a job and a community, settled down, raised a family and you moved (maybe) when you retired. Today that is not the case for many people. I have recently helped to relocated 4 households to Connecticut. Each of those have lived in no less than 4 places; 3 are between 25 and 40. The other, well we won’t go into age but he has literally lived all over the world.

If you’re on the move every few months, short term rentals are definitely the way to go. I would also hook up with a company that has a presences in your travel areas. This way you can deal with a company you know, they can refer you in network and if possible, share paperwork. Different states have different requirements but hey, any head start on the process helps.

Does this mean you don’t buy? Not necessarily. If you go out for a few weeks at a time or even a couple months at a time and return to a “home base”, owning may not be a bad idea. It gives you the security of knowing you will always have a place to lay your head. A place that is familiar, solid, secure and home. It also is a good investment and in the long run with this kind of life, a money saver. Although I would suggest a condo vs a single family home.

For the young professional that has a “stationary” job my advice would be the same every time; yes. If you qualify for a mortgage and can find a place that you want to live, go for it. It will be a great investment. Make sure you get pre-qualified. This will let you and your agent know what your financial position is and your price range. There is nothing worse than finding a place that you love and then finding out you can’t afford it. At that point the choice becomes about lifestyle; single family, multi-family or condo. It’s all about your comfort level.

Whether you live in something for 5 months or 50 years, the fact of the matter is, it’s home.  Like I said, we live in a small world, why not own your little piece of it?

 

 

Author: Cindy Penkoff   http://www.facebook.com/CindyPenkoffRealtor  http://www.linkedin.com/in/cindypenkoffrealtor

I Don’t Need An Agent

It’s amazing how many times you will hear this, especially before people find out you are an agent. I’m not sure how dealing with a Realtor ended up in the same category as going to the dentist. Since when did hiring someone trained and licensed to help you make the biggest purchase of your life become synonymous with someone who wants to put a drill in your mouth? People will hold off getting an agent until they no longer have a choice. No offence, but it’s a really bad strategy.

Explain to me exactly what it is that you are so adverse to. Expert advice, experienced insight, another set of eyes that can see your 3 year old about to grab the cats tail, the chauffeur? Are you adverse to having someone explain to you why getting pre-qualified is the first thing you should do BEFORE looking at that $700,000 house you have your heart set on? Or why buying the house right next door to the school is not a good idea if you have to be on your way to work no later than 7:15? Or, could it be that 3 page document they want you to sign before stepping inside one house? I mean, “why should you have to sign a document just to see houses?”.

First of all in the State of Connecticut it is REQUIRED. Selling a home is not like selling paint. There is a reason that licensing is a requirement, classes and mandatory continuing Ed classes. This IS the biggest purchase most people will ever make in their lives. It requires lawyers, legal town documents, sometimes town board approvals and variances. It’s a big deal. It requires each party to be legally represented by your own people. You do want people on your team to work for you and look out for your best interest right? That 3 page document does that.

If for some crazy reason a realtor chooses to take you to see houses without that document, he/she legally represents the SELLER as soon as they walk in the door. Not you, because you didn’t want them to and you will have to sign a waiver stating such.

Lastly, as a sales person we don’t get paid by the hour. We only get paid after a sale closes. How would you like to spend weeks showing properties to a client only to have that client turn around after finding the house they want and giving the sale to their cousin Fred? Do you think that would be fair? Of course not. We only have your best interest at heart and rely on you being a satisfied customer; satisfied customers make recommendations and remember us when they are ready to move up or down.

All that being said, when you hire someone to help you sell or buy a home, you are inviting them into your lives. Know who they are. Go to LinkedIn, their facebook business page and their website. Read their bio’s check out their recommendations and feel free to interview them. You are going to be spending time with this person, be fair to them, look out for yourself and always use a licensed agent.

http://www.coldwellbankermoves.com/Cynthia.Penkoff

http://www.facebook.com/CindyPenkoffRealtor

http://www.linkedin.com/in/cindypenkoffrealtor

Open House Sunday

If you are in the market for a home, one of the best days of the week is Open House Sunday. Are you a seasoned pro or a newbie? Either way, you need to be prepared as you may just find your next home today.

First you must go to your favorite website and see if the houses on your list are having an Open House, may I suggest www.CindyPenkoff.com? (I know shameless plug.) You make your list for the day, grab your coffee and go. The hardest part of this adventure, strangely enough, is being in the house, especially if you don’t have your agent with you. (You do have an agent right?)

The reason I say it’s the hardest part is you walk a fine line of feeling comfortable and feeling like a snoop. So here is the rule. If you know, when you walk in the door that you are not going to like this house “But let’s look any way since we are here”, walk through and leave. Simple. If nothing else it could add to the list of things you don’t like in a house. But, if you walk into a house that has potential, well then let the snooping begin.

Now, you are not going to really snoop, but you are going to give the house a good once over, you know like walking the car lots on Sunday when they used to be closed. This means, you open closet doors and medicine cabinets. Look under the sink cabinets for any leaks. Go into the basement and look at the electrical box and the sump pump. Is it dry or is there some moisture? Try opening and closing some windows and look up and look down. How does the ceiling look and do the floors look like you can work with them? Make notes; whether it be on your smart phone or a good old fashioned pen and paper. Look in the garage if it has one and walk around the yard.

Things off limits; drawers and anything NOT a part of the house. An old cool looking trunk in the basement or storage bins, any mail left on the counter and do not open that roll top desk. It’s not staying with the house. If it’s a personal item leave it alone and please do not let your children play with the toys of the children living in the home.

As much fun as it can be for a buyer, if you are selling your home, Open House Sunday is almost never your favorite day of the week. It really doesn’t matter how badly you want to sell your home either. You will feel as if you are being pushed out of your house, even if you are never home on Sunday in the first place. You will feel like you are being judged and you will feel like someone has gone through your things. At the same time you will be anxious to hear a report from your realtor at the end of the day. “How many people came and did anyone seem interested?” Validation.

The best advice I can give you, if you really want to sell your home, is read what I said above to potential buyers. Did you throw all your stuff in the walk in closet, the coat closet, under the sink or dirty dishes in the stove? Bad call. This place needs some spit and shine. More than likely you have known about this open house for at least a week. Don’t wait until that morning to get it all done. Has the lawn been groomed; first impressions are everything. How does the house smell? Yes smell. You would be surprised how many houses I go into that smell like teenage boys bedrooms. Choose something fresh and clean like lemon or orange. I hate to break it to you, all those candles you put around the house aren’t helping and nothing replaces a good old fashioned cleaning.

Here is the reality of Open House Sunday. If you really want to sell your house, you have to do it, but if you are going to do it, do it right. If you want to buy a house, open house Sunday is one of the best ways to find out what you like and what you don’t, just understand, somebody still lives there. So be a courteous guest.

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