Sharon Jobson's Newsletter
Helping you buy and sell your homes in London-Middlesex

Sharon Jobson
Sales Representative
Royal LePage Triland Realty
Email: sharonjobson@royallepage.ca
Toll Free: 1-877-760-9996
Business Phone: (519) 672-9880
Business Fax: (519) 672-5145
Mobile Phone: (519) 200-7653

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Thursday, April 20, 2006

Why Have A Pre-Listing Inspection?


Having your home inspected by a professional home inspector before you list is a recommendation.

Eventually your buyers are going to conduct a home inspection. You may as well know what they are going to find by getting there first. Having an inspection performed ahead of time helps in many other ways:

  • It allows you to see your home through the eyes of a critical third-party.
  • It helps you to price your home realistically.
  • It permits you to make repairs ahead of time so that ...
  • Defects won't become negotiating stumbling blocks later.
  • You have the time to get reasonably priced contractors or make the repairs yourself, if you are qualified.
  • It may encourage the buyer to waive the inspection contingency.
  • It may alert you of items of immediate personal concern, such as radon gas or active termite infestation (not all inspectors offer these extra services, you can check for radon yourself).
  • It may relieve buying prospect's concerns and suspicions.
  • It reduces your liability by adding professional supporting documentation to your disclosure statement. Alerting you to immediate safety issues before agents and visitors tour your home.

Copies of the inspection report along with receipts for any repairs should be made available to potential buyers. Having a pre-listing inspection is highly recommended. Sharon Jobson can complete one for your prior to your listing. Contact her today!

Saturday, March 25, 2006

Mortgage Hints


reprinted courtesy of Our Family Place
Careful Planning Can Mean a More Comfortable Mortgage

Don't build yourself a mortgage mountain
It's fine to want the best home you can afford, but be certain that it is comfortable affordability. Although you may find certain mortgage lenders who will stretch your qualification ratios (the ratio of your total mortgage payment to your total income) the traditional ratios - the mortgage payment as 28% of your income and the total of your mortgage payment plus your monthly debt payments as 36% of your income - are good basic guidelines.
Get your budget under control
Spending some time reviewing your budget (or developing one if you don't already have it) and sharpening your money saving skills can bring big rewards later. A coordinated budget allows you to get the most home for your money without strapping yourself while eliminating wasteful spending.
Prepare to pay off small debts
Having three credit card balances, for example, one with a $125 balance, a second with a $165 balance and a third with $275 balance will only cloud the picture. Even though the total is only $565, all 3 will have minimum payments, credit lines, etc. If possible, pay them down to $0 balances.
Begin to gather documentation
It is not necessary that you have all items on hand before you apply, but there are a number of documents you will need eventually and the approval process will go more smoothly if you begin to gather them now. Examples: W-2's and income tax returns from the last few years (especially if you are self-employed), copies of pay stubs, a copy of your credit report (you can get a free copy of your credit report here), records of any child support or alimony (either going out or coming in) and bank statements for all accounts (checking and saving) for the last several months.
Don't forget about closing costs
In addition to your down payment, you will need to reserve funds for closing costs. Depending on the type of loan and your location, these costs can range from 3-5% of the mortgage amount, will be paid in cash at the closing and cannot be borrowed funds.
Compare
There are lots of sources for mortgage funds - be sure to make comparisons. Your local bank or credit union, mortgage brokers and Internet resources are all available. Be certain to compare equal terms, downpayments and loan types.
Consider points when comparing>
Your total mortgage cost will be determined by three factors: The interest rate, the term and the amount of points.
Consider a 15 or 20 year term
Many home buyers assume that a shorter term will boost their payments out of reach. Unless you make the comparison, though, you may never know if a 15 or 20 year (if available) term could have been affordable. See a comparison of a sample loan. If you are concerned about committing to the higher payment of a shorter term, try this tactic: Mortgage the home with a 30 year loan but have the lender develop a 15 and a 30 year amortization sheet for you. Then, do your best to pay the mortgage at the shorter term payment. It will do wonders for your equity position!

Tuesday, March 07, 2006

The housing market in HOT in 2006! Is your House a Trend Setter? Put Your Money Where Your Feet Are!

Read about it in our Free e-newsletter!
Download the newsletter: THE HOMEOWNER: Spring, 2006

I suggest you Right-Click and choose, Save Target As. Once the file saves, click on OPEN and the file will open in Acrobat Reader.



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Sunday, March 05, 2006

Market Value



How is the market value of my property determined?


The market sets the price. Sharon Jobson will help you set a realistic price to match market conditions.

Sharon can give you a comparative market analysis based on similar homes in your area. It will show current listings, recent sales, and expired listings (a good thing to check because these houses are usually either overpriced or poorly marketed).

Sharon will help you develop a competitive price based on:


  • Location
  • Size
  • Style
  • Condition
  • Community amenities
  • Financing options
  • Market conditions (Is it a buyer's or a seller's market?)

Remember: The market determines price. Avoid the urge to price your home based on considerations that do not affect its market value. For example, the following do not affect the market value for your property:

  • How much you need to purchase your next home
  • How much you paid
  • How much you spent on improvements
  • The value of a similar home in a different community
  • The cost to build the same home today
  • Your personal attachment to your home (Yes, it's your house and you're proud of it, but this makes no difference to potential buyers.)

Contact Sharon today for your comparative market analysis!

Saturday, March 04, 2006

Welcome

Welcome to my interactive newsletter. I hope that you will take the time to read through the news and post any comment or questions you have about it. Thanks for stopping by and have a great day!