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Text only newsletter stories Issue 8 Vl. 3


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Headline: Before you take the plunge with a fixer-upper, think about resale value

We’ve all watched the HGTV programs that show a run-down old house transforming into a dream home. Tackling a big renovation project on an outdated property can indeed pay off big—both with the home of your dreams, and with a return on investment. If resale value is a primary concern, consider these factors as you’re making your fixer-upper plans.

Is the price right?
How much can you invest in a home beyond the sale price while staying in line with the value of homes in the neighborhood? You don’t want to improve a home to the point that it’s worth far more than the norm for the area. You’ll enjoy the property while you’re living there, but if you ever decide to sell, your ROI could be limited by the market value of nearby houses.

Low cost, instant equity
There are a lot of low cost and DIY improvements that will add equity almost immediately, such as rehabbing the landscaping and adding fresh coats of paint. These improvements add value to the property almost instantly.

What’s worth spending on?
A little elbow grease goes a long way, but there will inevitably be projects that require some serious spending. If you’re concerned with getting a return on your investment, focus your dollars toward the roof, floors, and the home’s exterior. They’re not flashy upgrades, but they’re important for future buyers. On the other hand, luxuries like a swimming pool are unlikely to see any return on investment.


Headline: Five things to know about home inspections

Home inspection is an important part of the home sale process, both for buyers and sellers. When it’s time for you to hire an inspector, here are five things you should be thinking about:

 1. It’s your choice: You are not bound or obligated to use any particular inspector. Your real estate professional may have some recommendations, but it’s ultimately up to you. Ask around and choose wisely—better to pay a little more now for a highly-respected inspector than to be surprised by a problem that the inspection didn’t reveal.

 2. Looking for big problems: The inspector will be focused on the integrity of the home—safety, electrical work, foundation, load-bearing walls, etc. The inspector is not there to point out problems with ugly paint colors or light fixtures.

 3. The report: There are hundreds of items to inspect in a home, so the inspector’s report will focus on the basics: What’s damaged, what needs repaired, etc. The report should be easy to read and understand.

 4. Code of ethics: Though the inspector is working for the party that pays the inspector’s fee, the inspector will not deliver a report that intentionally hides or omits damaging information about the home. The report is private between you and the inspector, but if you’re the seller, you’re required to disclose any problems that the inspection reveals.

 5. The inspector is not liable: Even the best inspectors can’t find every single problem in a home. They can’t see inside the walls or through the floors, so there could still be problems lurking. If a problem is revealed down the road, the inspector can’t be held responsible.


Headline: How an agent can help alleviate stress

Purchasing a home can be a stressful experience, whether you’re a first-time buyer or you’ve been through the process before. But that’s one of the reasons that working with a real estate professional is so worthwhile. With your agent’s guidance, buying a home should be enjoyable, rather than stressful. Here are some of the more unique circumstances where your agent can make your life much easier.

Out-of-town buyers: If you’re looking for vacation homes or moving to a job in a new city, there’s a good chance that viewing homes will be difficult—you could be a long drive or even a plane ride away. With today’s video messaging apps like Skype or Facetime, your agent can walk you through a property virtually. It’s not the same as walking through in person, but it will at least give you an idea about whether a property is worth pursuing further.

When life is just too crazy: If you’re just getting too busy with everything else going on in your life, a good buyer’s agent should be able to recognize the situation and help you take a step back. They can suggest that you take a few weeks off from your home search to recharge, or only focus on properties that exactly fit your wants list.

Inspection issues: You’re dreaming about move-in day, and then some unforeseen issues turn up during inspection. A good agent can work out those issues by negotiating a lower offer—to cover costs of repairs—or by getting the seller to fix the problem.


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