Sellers Wanted - Monroe County, NY

Hello. I wanted to let...

2008-09-12T08:28:00.001-04:00

Hello. I wanted to let you know I have a new buyer looking for a townhouse or condominium near RIT. If you have a home similar to this, please give me a call. My phone number is 585-721-9857. Thank you. listen

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Homearama -- Con't

2008-07-10T06:51:00.000-04:00

Homearama -- See what's new in home building!!!

2008-07-10T06:44:00.000-04:00

Rencently, I went to the Homearama in Perinton. Here are a couple of pictures that I took that you might like to take a look at as well. There were a lot of great ideas and features that you might be able to take into your homes as well.

If you would like to see all the pictures that I took ... e-mail me and I'll forward you the link.

Thanks,
Mike
585-721-9857

New Listing in Pittsford -- 20 Hardwood Hill Road

2008-07-09T17:38:00.003-04:00

You've hit the Trifecta here!
Beautiful Setting - Rare combination
Fairport Electric/Pittsford Schools/Perinton Taxes

20 Hardwood Hill
Pittsford, NY 14534

$ 249,900

Save $$$ with Fairport Electric, and enjoy 2 parks, 2 golf courses, shopping malls, restaurants, Wegmans, canal path -- all within 2 miles! This is a beautiful home on a private drive, a colonial tri-level 3 bedroom, 2.5 bath home in a wooded setting. Great open updated kitchen/family room area perfect for entertaining inside by the fireplace or wander out to the 2-level deck with a waterfall and enjoy the outdoors. Beautiful living room with great views!

Beautifully updated kitchen

Open floor plan perfect for entertaining

Formal Dining Room and Living Room

Private, Private, Private -- you'll enjoy this setting!

5 minutes to Mall, Wegmans, Canal, Rte. 490 and more - 7 minutes to Thrwy - 15 to Downtown!

Entertain outside on the two tiered deck with waterfall and paver patio

GENERAL DETAILS:

Listing Type: Single Family

MLS Number: 818057

Total Sq. Feet: 2394

Tax ID: 264489-179-0001-042-000

Taxes: $8,930

Bedrooms: 3

Bathrooms: 2.5

Schools: PITTSFORD

Year Built: 1965

Price: $ 249,900

INTERIOR DETAILS:

Family Rooms: Large family room/kitchen opens to sunny deck

Fireplaces: Woodburning

Dining Room: Formal

Other Rooms: Wine cellar

Laundry: Basement laundry room

Basement: Gym, office/bedroom, storage, wine cellar, laundry

Floors: wood, ceramic, carpet

Air: Central Air 2000

Heat: Forced Air/Gas 2000

Range: Included

Oven: Included

Dishwasher: Included

Disposal: Included

Microwave: Included

Interior Features: Wonderful open floor plan

EXTERIOR DETAILS:

Lot: Private, Private, Private

Lot Acres: 0.84

Lot Description: Wooded

Lot Dimensions: 155x238

Deck: Multi-level

Landscaped: Pavers, pond, exterior lighting

Garage: 2 car attached w/ openers

Road Access: Private Drive

Outside Features: Multi-level deck, paver sidewalks, nature trail

Roof: Tear-off 2005

Utilities: Fairport Electric - Save $$$

Water/Sewage: Public

Michael Walker

Broker Associate

Phone: 585.645.1258

Mobile: 585.721.9857

E-Mail: Mike@MikeWalkerHomes.com

Website:
www.MikeWalkerHomes.com

Additional Photos & information at:

http://www.Obeo.com/406258

This information is deemed reliable,
but is not completely guaranteed.
Buyer to verify all information.

Rochester - number 2 on the ten fastest growing real estate markets! -- Money/CNN story

2008-05-13T06:47:00.003-04:00

Thought you might like to take a look at the recent story from CNN - Money Magazine.

http://money.cnn.com/galleries/2008/moneymag/0805/gallery.resg_gainers.moneymag/2.html

This is showing what I've seen within our market. We've had a very steady couple of years. We unfortunately don't get the terrific highs in our market ... but we conversely don't get the lows either!

Enjoy!

Michael Walker
585-721-9857

Property Management ...

2008-05-01T12:21:00.003-04:00

Recently a colleague of mine moved to another state and needed me to take over for her and help her past client with their property management needs. Being familiar with the business and what needs a property owner has of their property managers, I decided that I would be a good fit for that position.

Many of you may desire to own investment property but not have the time or desire to manage it. For a relatively low rate you can hire property managers to take the time consuming task of managing the ins and outs of the property for you. The monthly costs are typically 10% of the rent role to handle the phone calls/request for services. If repairs are needed -- the property manager would address those either themselves or hire the proper person for the job. Those costs would of course be passed on to the owner.

The property manager also prepares the property quickly and efficiently between rentals as well. I.E. when a tenant decides not to renew -- they organize the cleaning, painting, routine maintenance, etc. that might be needed. They then advertise and market the property to get it rented asap.

Once the property is rented the property owner would be responsible for one month's rent to cover the process of finding and placing a renter.

As you can see ... there are a lot of aspects of owning and successfully leasing an investment property. If you'd like more information on my services and what I provide for you ... please don't hesitate to contact me directly.

Michael Walker
585-645-1258
RochesterRentals@MikeWalkerHomes.com

Tax Time ...

2008-04-14T07:59:00.002-04:00

Well the time is here again that you have to file those taxes. If you are like me it should be completed by tomorrow and sent out. I guess it's my way of giving the IRS a little more time to use my money!

Here are some last minute tax tips that I found that you might be interested in that I found on the IRS website:

Tips for Last-Minute Filers

IRS TAX TIP 2008-62
With the tax filing deadline close at hand, the IRS offers some tips for those still working on their paper tax forms:
Consider filing electronically instead of using paper tax forms
Put all required Social Security numbers on the return
Double-check your figures
Sign your form
Attach all required schedules
Send your return or request an extension by the April filing deadline
Choosing to e-file your tax return instead of preparing a paper tax form is the best step you can take to ensure that your return is accurate and complete.
When you file a paper return, the numbers to check most carefully on the tax return are the identification numbers — usually Social Security numbers — for each person listed. This includes the taxpayer, spouse, dependents and persons listed in relation to claims for the Child and Dependent Care Credit or Earned Income Tax Credit. Missing, incorrect or illegible Social Security Numbers can delay or reduce a tax refund.
Taxpayers filing paper returns should also double-check that they have correctly figured the refund or balance due and have used the right figure from the tax table.
Taxpayers must sign and date their returns. Both spouses must sign a joint return, even if only one had income. Anyone paid to prepare a return must also sign it.
People sending a payment should make the check out to "United States Treasury" and should enclose it with, but not attach it to the tax return or the Form 1040-V, Payment Voucher, if used. The check should include the taxpayer’s Social Security number, daytime phone number, the tax year and the type of form filed.
By the April due date, taxpayers should either file a return or request an extension of time to file. Remember, the extension of time to file is not an extension of time to pay.
Forms and publications and helpful information on a variety of tax subjects are available around the clock on the IRS Web site at IRS.gov.
Remember that for the genuine IRS Web site be sure to use .gov. Don't be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.
Links:
Form 9465, Installment Agreement Request (PDF 100K)
Form 1040-V, Payment Voucher (PDF 47K)
Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (PDF 50K)
Official Payments Corporation
Link2Gov

Understanding Capital Gains -- Real Estate edition

2008-04-06T19:16:00.001-04:00

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.How to Calculate GainIn real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:
Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.

3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain: _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.
A Special Real Estate Exemption for Capital GainsSince 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

· You have lived in the home as your principal residence for two out of the last five years.

· You have not sold or exchanged another home during the two years preceding the sale.

· You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

OPEN House 4/6/2008 - 172 Lemoyn Ave., Rochester, NY

2008-04-05T09:45:00.003-04:00

Open from 1 p.m. to 3 p.m. this Sunday -- stop on down and take a look at this great ranch!!!

Thanks,

Michael Walker

Century 21 - Premier Properties

585-645-1258

http://www.mikewalkerhomes.com/

Mike@MikeWalkerHomes.com

2008-04-04T09:47:00.002-04:00

Take the Stress Out of Homebuying

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality. You'll be spending a lot of time with this person -- make sure that you like and trust them!

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go. This is very important during the inspection phase. Often times new buyers want everything perfect ... that's not always possible.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers. See a previous post I made about this - Click Here

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased. I often tell buyers that you will not sleep the night you make an offer. You'll be awake by 2-3 AM saying, "What have I done?"

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Sellers: Get an inspection first!

2008-04-04T05:04:00.005-04:00

I'm often asked ... what's the best thing I can do to make sure that my home closes with the least hassle?

My answer: Get an Inspection First!

If you're thinking of selling ... consider a pre-listing home inspection. You will benefit so much from a thorough evaluation by a professional inspector to help get your property into tip-top shape. Sure, it’s tempting for you to assume that they know everything about your home’s condition. But even people living in a house for 25 years may not realize they’ve been living with a dangerous electrical outlet or plumbing leaks. Taking care of problems early offers a competitive edge.

Buyers are going to do the same thing and get an inspection anyways you might say ... I'll just have to pay for it too! Some may think that but actually many buyers won't get that far if they themselves find deficiencies in the house and may not present an offer. They'll often think that a house that has maintenance issues must have bigger issues too.

Secondly, there is this phenomenon with buyers I affectionately call "over reacting." Let's say that there is a problem with the roof -- they'll often say that they aren't interested in pursuing the property even though they love everything else about it. So as a seller you lose that prospect. The other alternative might be to say that they want a credit at closing. Not too bad you might say as you were expecting to have to pay out something anyways. Here's the problem though -- often the estimate that the buyer comes up with is at least 1.5 times to 2 times what the fix should cost. For example the buyer doesn't know that a toilet is only $70 at Lowe's -- they figure it has to cost about $300!

So, if you can find out about these problems ahead of time and spend the small dollars up front ... you'll save bigger ones and more importantly save deals down the road!

If you'd like recommendations ... call me at 585-645-1258 or e-mail at Mike@MikeWalkerHomes.com

Sale Pending ... 195 Hewitt St., Charlotte

2008-04-03T02:29:00.000-04:00

This one went pretty fast as well! I was able to secure the buyer and put it under contract in about 27 days! Not too shabby. Here's a picture of the property located at 195 Hewitt St. to the right!

As a result, the seller has placed another one of his properties for sale through me and it's available as well. 172 Lemoyn -- Charlotte. If you'd like to take a closer look -- go to: http://www.mikewalkerhomes.com/ and Click on featured listings.

If you or someone you know is thinking about putting your home on the market ... call someone with the tools to help get your goals accomplished! Call ME!

Michael Walker

585-645-1258

Four Common Home Hazards

2008-04-02T12:17:00.001-04:00

Whether you are interested in selling or not ... these are common occurrences in most home inspections and may be in your home too! Here are some of the most common hazards home inspectors often find:

FAULTY WIRING

Overloaded circuits, loose wires, missing covers on distribution boxes, abandoned appliances, or aluminum wiring (my last sale had this problem -- the seller had to credit for the replacement of the electrical service,) which can become problematic with age.

LOOSE GUARD RAILS

Stairway guardrails, especially on exterior stairways, that are not securely connected. Decks - often installed by homeowners unfamiliar with local building codes - that have loose boards.

SHOWER DOORS

Shower doors that lack safety glass and are not properly secured. A home owner who slips when stepping out of the bathtub and grabs a glass door that isn't properly fastened could be severely injured.

DRAINAGE PROBLEMS

Downspouts discharging next to an exterior wall or a negative grade that slopes toward the home (apparent on just about every home inspection I go on) and brings water toward the home, causing foundation deterioration. This can lead to water damage, often seen in the basement, and possibly mold growth. Look for cracks, foundation wall stains, and musty, damp smells.

Brought to you by:

Michael Walker and Pillar to Post

585-645-1258

Top 10 Showing Tips:

2008-03-31T05:01:00.001-04:00

Here are some great tips for showing your home to a prospective buyer.

Replace heavy drapes with lightweight sheers during warmer months to give a room a brighter, lighter feel.
Make the fridge smell fresh instantly with cotton balls soaked in vanilla extract or orange juice.
Make your bed more inviting and adding new fluff to the comforter by having a couple of people shake the quilt up and down to redistribute the stuffing.
Shut some of your vents on the first floor and basement to push more cool air to the second floor in the summer (A/C weather.) Reverse the process in the winter as heat rises.
Resist the temptation to spot-clean walls since it will make the rest of the wall dingy.
Have a large box or basket that will allow you to go through the entire house in 10 minutes or less picking up items that shouldn't be out during a showing. Place the box in the closet and when you get home you can replace the items.
Don't be home for the showing and make sure to turn on ALL the lights prior to you leaving for the showing. Sure, the agent can turn them on ... but your home is much more inviting if you have it done for them already! This avoids the agent fumbling for the switch or worse not turning on the light and making your house seem drab!
Curb Appeal: If possible have your lawn mowed every 5 days during the marketing of it to keep it manicured perfectly. This projects a great first impression of your home when the buyers walk up to or drive by your property. If time permits -- water the lawn for 10 minutes before the showing.
Make sure your kitchen and bathrooms are spotless. Remove the sponges and dish soap from the sink. Remove the shampoos and soaps from the tub. Put everything away and by all means -- wash the dishes in the sink!
Staging - if you haven't seen or heard what a difference this can make ... you'd be surprised. Selling your home is a difficult time for you as it's hard to live there at the same time as well. In order to project the best look for the prospective buyer -- there are specific ways to place the furniture, knickknacks, pictures, rugs, etc. If you have questions ... I have people that you can speak with.

7 Secrets to Successful - and Legal - Landlording

2008-03-30T08:49:00.000-04:00

Slower sales are compelling more home owners to rent their properties, at least for a while. If you are thinking of renting ... follow these tips from attorney Kenneth M. Roth.

RUN RENTING LIKE A BUSINESS. Even if you are planning on leasing only until the house sells, or the tenant is your second cousin, keep leasing on a professional basis. Establishing rules that policies allows you to maintain objectivity if a tenant makes demands or is late with the rent.
TREAT EVERYONE EQUALLY. Federal fair housing law, which prohibits discrimination on the basis of race, color, religion, sex, national origin, family status, or handicap, applies when licensees (Realtors) advertise or lease and residential property. Although it's completely legal to ask questions about a prospective tenant's rental history, current employment, and financial history, it's important to ask every applicant the same questions to avoid the appearance of discrimination. If you have a problem renting to anyone in a protected class -- it might be best not to rent the home, says Roth

USE THE RIGHT TERMS. Although there are all-purpose leases available at office supply stores, it makes more sense to use a lease tailored to your specific property type and state laws, including landlord-tenant laws. I'm a great source for the proper forms as we have them from our local Realtor Association.

MAKE YOUR LEASE AS SPECIFIC AS POSSIBLE. Spell out exactly what is expected of the tenant and the owner or manager. Who's going to mow the lawn - shovel the driveway or sidewalks? How should emergency repairs be handled? Roth suggests making tenants responsible for repairs of less than $100 and letting the owner cover major repairs.

WRITE OUT A ROAD MAP FOR DEFAULTS. Your lease should spell out all the particulars and penalties of rent payment. If should state when the rent is due, where it must be paid, what late fees and interest you will charge, and at what point late payments will result in an eviction notice.

DON'T TREAT SECURITY DEPOSITS AS A POTENTIAL FOR PROFIT. Security deposits are intended to cover only repairs needed because of excessive damage to the property. They can't be used to cover routine cleaning of the unit prior to releasing or to add upgrades. Also remember that in many states, security deposits must be kept in a separate account (NYS this applies) and you must pay interest to the tenant. Ask for the first & last months rent plus a security deposit, advises Roth.

DON'T BE FOOLED BY APPEARANCES. A fancy car and lots of bling do not necessarily make a good tenant. Run a credit check on every prospective tenant. Tenants must sign an authorization to permit you to check their credit, and you can charge them for the cost. Also remember to keep credit information confidential. Don't disclose what you know to others, says Roth.

That one went fast -- Just 6 days!

2008-03-29T18:38:00.003-04:00

West Henrietta -- This 3 BR 2.5 Bath Colonial went really fast. We marketed the property through the use of a Virtual Tour - bought it's own domain name - http://www.26delaney.com/ and through the use of my on-line marketing plan got the right buyer to fall in love with it on-line and verified their thoughts with a visit!

After negotiations -- the seller is getting an all cash buyer at 97.9% of their asking price and closing in 26 days! Not a bad result!

If you'd like a market analysis of your property to see where your property stands in today's market -- contact me for an appointment.

Michael Walker

585-645-1258

Electronic Lockboxes ... should you allow them on your home?

2008-03-28T20:48:00.000-04:00

I have encountered, on occasion, clients that aren't sure if they should allow me to use the Electronic Lockbox on their property. They are concerned that people will be coming and going at any time of the day or night. This can be combated by changing a setting that they MUST get from me prior to showing the property or they aren't allowed access. Other concerns people have are that the property won't be secured when other agents leave the property.

While the concern that the property won't be completely secured when an agent leaves is a valid one ... the benefits far outweigh the negatives. Here are some benefits that I see with its use:

Access when the agent isn't able to be present for the showing

Secure & Safe -- agents must be "cleared" through the association each and everyday to access the lockboxes. If someone leaves the profession today -- tomorrow their key cannot be activated. Much better than the electronic lockboxes that some agents still use. Certainly better than the keys under the mat procedure!

Convenient -- you won't have to wait around for the agent to show up. If an appointment comes in with short notice -- agents can still show the property.

I'm a firm believer in the lockbox as a tool to help get the listing sold. I try to show all properties that I list myself as there's noone that knows it better than me. That being said, in a pinch or when I have conflicting appointments it's best to allow the other agents to show their clients the property with short notice.

If you have any questions about these lock boxes ... feel free to contact me and I can answer them for you.

Michael Walker

Century 21 Premier Properties

585-645-1258

NEW Listing - West Henrietta - 26 Delaney Drive

2008-03-27T07:46:00.005-04:00

I've got another great home in the West Henrietta area. This home features so much: Finished basement, new carpet, all appliances, shed, fenced yard, stamped patio and so much more.

Call today for your showing ... it might not be here for long! Take a look: http://www.26delaney.com/.

If you know anyone thinking of buying/selling ... please feel free to have them contact me.

Michael Walker

Century 21 Premier Properties

585-645-1258

How important are your pictures?

2008-03-26T16:06:00.005-04:00

Pictures are your connection with the buyers long before they drive past your home. The most recent statistics that I have are that 86% of buyers use the Internet for at least some of their search. If my clients are any indication ... that number is a lot greater.

So ... if the buyers are online -- how important are the pictures? If you don't have terrific pictures with great light and a good angle - you won't get the buyers to come and visit the house in person. To make the best impression -- you need to make sure that you use a great photographer and display them in the best manner on the web.

For most of the properties that I represent I use Obeo Virtual Tours (www.Obeo.com/MikeWalker.) The minute you log into one ... you'll see the value in it! In this product I am able to show up to 15 pictures and 4 panoramas to prospective buyers. Within the MLS we are limited to just 8 pictures. With the tour I am also able to track the number of pages that buyers are clicking on and give the seller a list of the statistics and what the buyers looked at the most.

If you have any questions ... please don't hesitate to contact me!

Regards ~

Michael Walker
Mike@MikeWalkerHomes.com
585-645-1258

I can't sell my house until I find my next one ... Can I?

2008-03-24T08:12:00.003-04:00

.
.
I hear this a lot. It is a difficult scenario ... but it can be accomplished with success.

In order to effectively accomplish this goal -- the buyer (who needs to sell) must when writing a purchase offer on a property they would like to by select the: Sale and Transfer Contingency (S&T Contingency.) Essentially, in the purchase and sale contract there is a contingency that states that the buyer has to sell and close on their current home in order to purchase the new home. In this scenario, the seller is taking a chance that the buyers the house will not sell quickly in the time frame the buyer stated it would sell in. They are also bringing another party into the transaction -- the buyer of their buyers property. (Sound confusing yet?)

The Terms: Within a S&T Contingency is what's called a "Bump Clause." This clause ensures that the seller has an "out" within the contract. This clause states that if the seller gets another offer that has a better price, terms, or anything else -- they can "bump" the current buyer of their home. The terms of this "bump" are spelled out in the initial purchase offer and are usually 1-3 days. This essentially means that if you are buying a home with a S&T Contingency and the seller receives another purchase offer you could lose the house.

As the initial buyer, this "bump" doesn't necessarily mean that you lose the house -- during this period of the next 1-3 days you have the option to either: A. Show that you have a contract to purchase your home and remove the S&T Contingency; B: Secure a mortgage to cover the loan amount without the need to sell the current home and remove the S&T Contingency; or C: Come up with the cash to close and remove the S&T Contingency.

The main thing to remember is if you are purchasing a property that is very desirable (i.e. priced right, in great condition, and in a desirable area) you may not even get the seller to negotiate your offer. You may have to attach better terms to your offer, a higher purchase price than you'd consider otherwise, or a combination of both.

Additionally, you have to make sure that your home is ready to put on the market immediately. Time is of the essence in this case as any delays sprucing up your home are not well spent when you have a contingent offer on another property. It may also be a good idea to talk to your mortgage specialist to see if you can have ready a pre-approval to purchase the new house without the need to sell the current one. This is risky ... but if you absolutely have to have the new house - it may be worth it. After selecting this option ... it's imperative that you offer incentives to get your house sold so that you don't have 2 houses to call home!

So as you can see ... it is possible to make a buying decision on a property and then sell your home.

If you have any questions ... please don't hesitate to contact me at 585-645-1258 or via e-mail: Mike@MikeWalkerHomes.com

Regards,
Michael Walker

Who lives around your home?

2008-03-19T07:36:00.006-04:00

Whether you are a home owner or home buyer ... what's around the house is a very important factor in it's value. We all know that the condition of the home, location, amenities and much more are very important in determining its' value. But what can the nearby neighbors do to affect its' value?

I've was just alerted to a site that will search your area for current convicted sex offenders. I've seen a lot of these sites before ... but this one is the best I've seen as it places all the convicts on a map with your home in the middle.

If you have children, grandchildren, nieces or nephews that stay with you ... you may want to see what type of people live around you so that you can be aware of potential threats. If you'd like to view the site that I think is the best of its kind ... visit: http://www.familywatchdog.us/ .

Take Care!

Michael Walker
585-721-9857
Blog@MikeWalkerHomes.com

Elements of a Purchase Offer (Part 2)

2008-03-17T08:00:00.001-04:00

In my last post I spoke about the first three components of a purchase offer. Those parts were: Terms, Inclusions/Exclusions, and the Deposit.

This post I'll talk about the last three main parts of the Purchase Offer. The next component of the purchase offer is any contingencies that must be satisfied prior to the closing taking place.

Contingencies:

Mortgage Contingency: A condition in the contract that protects the buyer in the case where they cannot obtain a mortgage from a lender or that loan isn't within the terms that they spelled out in the contract (i.e. interest rate.)

Sale and Transfer Contingency: This is used when a buyer hasn't sold their home yet and makes the sale of that residence a condition that must be met before they are obligated to buy the next home. I'll have a post on this type of purchase in the future.

Attorney Approval: There is usually a condition within the purchase offer that states both the buyer and sellers attorney must approve of the contract. This contingency is usually satisfied within 7 calendar days per the contract.

Property Inspection: I highly recommend to all my clients that they have an independent property inspection conducted on any property that they are in the process of purchasing. The contingency is generally written with a 7 day time frame on it. It's in the sellers best interest to ensure the buyer completes this asap so that any findings can be dealt with and if unable to be overcome -- the property can be put back on the market.

Other Contingencies: This is where other items can be added if necessary.

Possession or Closing Date:

This is usually the date that the legal ownership of the property transfers from the seller to the buyer and, unless otherwise noted, when the funds for the purchase are concluded.

Most closings in this area close between 45 and 60 days. Depending on the sellers situation -- delaying the closing makes the buyers offer less attractive. Often times this can be as important as the amount of the purchase offer.

In some situations, it is a benefit to the seller to be allowed to retain possession after closing (i.e. they are building and need time to finish their new home.) In this situation, a flexible buyer's offer might actually be better than a higher purchase price non-flexible offer.

Purchase Price:

This is the amount that the buyer is offering to pay for the property. The price is usually dependent on market conditions and may differ from the seller’s current asking price. In all cases your Realtor should use similar properties that have sold within the past year to give you an idea of what this home is worth. The offer price is ultimately up to you.

Elements of a Purchase Offer (Part 1)

2008-03-15T19:42:00.013-04:00

Whether you are buying or selling property, the purchase offer is the most complex part of the home buying/selling process. Both buyer and seller are happy to have gotten to this part of the transaction as the end seems to be in sight. In reality though ... this is just the beginning and where your experienced Realtor can help you out the most.

The purchase offer is a very complex and lengthy form. Many people focus on just the purchase price ... but there is so much more than just that. There are many different elements of this contract that spell out to all parties exactly what needs to happen and when before the property can change ownership.

The main elements that I'll be discussing in this and the next few blogs are: Terms, Inclusions/Exclusions, Deposits, Contingencies, Possession and Closing Dates, and finally Purchase Price.

Terms:

An offer includes certain "terms", which specify the total price offered and how the financing will be arranged, will there be sellers concessions, will you arrange your own with a financial institution or mortgage broker or if you wish to take over the seller’s mortgage (assumability).

Inclusions/Exclusions:

These are specifications within the offer that detail the items to be included or excluded from the purchase of the property. Typical inclusions are appliances, window coverings, fixtures and decorative pieces. Most often it will be spelled out in a listing if there is an item that the seller wishes to have left out of the sale. Items such as chandeliers that have sentimental value which the seller would like to keep are best handled if they are removed and replaced prior to the listing of the property. Buyers that would like to have an item that isn't included are free to write it in and "see what happens."

Deposits:

A deposit is usually given from the buyer to the seller as a token of the buyer’s assurance and intention to buy the property involved. The deposit is applied against the purchase price of the home once the sale has closed. Your agent can assist you in proposing a certain and appropriate amount for the deposit. The deposit is then held by the listing agents broker in their escrow account.

I'll talk about the other parts of the purchase offer on my next post. If you have any questions relating to this or any other real estate need ... please don't hesitate to contact me:

Michael Walker -- Mike@MikeWalkerHomes.com

Century 21 Premier Properties

585.645.1258.

Updated: Closed today on a listing in Charlotte - 141 Hewitt St.

2008-03-13T13:42:00.002-04:00

This one was listed in December and sold in just 9 days for 98.8% of the list price. The sellers were happy ... they could buy the home that they found non-contingent and the buyer is happy because he is moving into his first home on Sunday!

Is your home next?

Contact me at 585-645-1258 to chat with me.

Michael Walker

Updated: Closed today on their new home!!! Greece: 4 BR 1.5 bath (min) up to $150,000

2008-03-13T13:38:00.004-04:00

Greece: 4 BR 1.5 bath (min) up to $150,000
Reference: Mike
Location: Greece -- DONE
Price Range: up to $150,000 Pre Approved -- $147,000 DONE
Timeline: Looking within the next 2 months -- 2 Weeks after his sold! DONE
Bedrooms: 4 bedrooms, 1.5 bath Prefers 2.5 -- got the 2.5 DONE
Size Requirements: 2,000+ Sq. Ft. -- 2126 sq ft. DONE
Wish List: Single Family Home -- Private Backyard (forever wild if possible!) -- Yup -- got this too! DONE
Style: Would like to purchase in the next 2 months! DONE -- 14 days

New Listing -- Charlotte - 195 Hewitt St.

2008-03-13T13:35:00.003-04:00

Are you or someone you know looking for a great property?

This is a great home with a lot to offer the first time homebuyer. All appliances are included, huge yard, updated siding and electrical and so much more. To view this great property ... please visit my website at: http://www.mikewalkerhomes.com/Rochester/New_York/Homes/Charlotte/Agent/Listing_1543512.html

You can call me at: 585-645-1258 to reach me directly

Thanks! Mike

Updated: Found these buyers their home and they'll close in April!

2008-03-13T13:30:00.004-04:00

Updated ... I found her one ... and they'll close next month!

Buyer Profile: Webster/Penfield, 3 BR - 1 BA, Up to $135,000
Reference Name: Danielle
Location: Webster/Penfield (Webster Schools)
Price Range: up to $135,000
Timeline: January - April 2008
Bedrooms: 3 bedrooms, 1 baths
Size Requirements: the bigger the better, at least 1200 sq.ft.
Wish List: Prefers Plank South Elementary

January 2008 Stats in Rochester, NY

2008-03-05T10:26:00.003-05:00

Here is a link to the latest stats on the Rochester Market. If you have any questions ... I'd be happy to help you with those.

http://www.grar.org/pdf/Stats/2008_1januarystats.pdf

Thanks,
Mike

SOLD them a house! - Greece: 4 BR 1.5 bath (min) up to $150,000

2007-12-07T08:35:00.002-05:00

Reference: Mike

Location: Greece
Price Range: up to $150,000 Pre Approved
Timeline: Looking within the next 2 months
Bedrooms: 4 bedrooms, 1.5 bath Prefers 2.5
Size Requirements: 2,000+ Sq. Ft.
Wish List: Single Family Home -- Private Backyard (forever wild if possible!)
Style: Would like to purchase in the next 2 months!

Unbelievable Value in West Irondequoit!!!

2007-11-09T18:41:00.000-05:00

This one is actually for those bargain hunters looking for a TERRIFIC opportunity for a first time home owner to buy an updated home with a beautiful inside and out located close to everything! Here are a couple of pics of this great home! Foreclosure that's ready to move in and priced at ONLY $118,900!!!

Call me to set up your viewing of this fine home!

Home Buyer/Seller Seminars to help you through the process!

2007-10-30T08:20:00.000-04:00

Thinking of Buying a home next year? FREE Home Buyer Seminar -- November 7th 6:30 - 8:00 p.m.

Location: Webster Community Center

If you're contemplating buying a home in the spring ... now's the time to learn the process. Here is your opportunity to learn the from the pros. I'll have a Mortgage Consultant, Home Inspector, Insurance Agent and myself an Associate Broker with Century 21 Premier Properties on hand to tell you what roles our positions play in the process of buying of a home. There's no obligation and no cost!!!

Learn more about the program by calling 866-437-1660 ext. 31364.

The Cost is Free ... but Pre-Registration is necessary as seating is limited.

visit: http://mikewalkerhomesseminars.wufoo.com/forms/mikewalkerhomescom-real-estate-seminars/
to RSVP or for more information visit my website at www.MikeWalkerHomes.com

Photo Gallery

Contact Information

Michael Walker

585-721-9857

Location

965 Ebner Drive
Webster, NY 14580

Links

MY Website for more info!

Features

Organizers: Michael Walker

Max # of Attendees: 30

Sign-up URL: http://mikewalkerhomes.com

Frequency: One evening only!

Start Date and Time: Wed, Nov 07, 2007 06:30 PM - 08:00 PM EST

Topics Covered

What should you look for in a Realtor?

You hear about Radon ... what is it and how could it effect your family?

What should you look for in a Home Inspector?

How do I know if I'm getting a good mortgage rate or not?

What are the ins and outs of Home Owners Insurance?

VFLYER ID: 1377839

Upcoming Home Buyer/Seller Seminars

2007-10-18T17:01:00.000-04:00

I will be starting my Home Buyer/Home Seller Seminars again.

I'll have a Mortgage Person, Attorney, Home Inspector, and a Realtor (Who other than myself!)

We'll all talk about what each of our roles are throughout the transaction and what value we bring to the table. Each presentation will highlight tips for you, the consumer, and how you can benefit by developing a relationship with us as well as others in our profession.

Home Buyers Seminar:
Wednesday November 7th from 6:30 - 8:00 p.m.

Home Seller Seminar:
Wednesday November 13th from 6:30 - 8:00 p.m.

Both seminars are being held at the Webster Community Center on Ebner.

Seats are limited and being reserved by calling 585-872-3513 ext. 43 or by
Clicking here!

Thanks,

Michael Walker

North/South/West side -- $80-$125,000 Cash Buyer

2007-10-18T16:47:00.000-04:00

Reference: Sharon

Location: Henrietta, Gates, Greece, West/East Iron.
Price Range: up to $80,000 - $125,000 Cash Buyer
Timeline: Cash Buyer when the right one comes along
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Single Family Home
Style: Ranch/Cape/Raised Ranch -- Must have Full bath and 1 BR on Main Floor.

Westside -- 80 - $135,000 Fixer Upper

2007-10-18T16:45:00.000-04:00

Reference: Lilly

Location: Greece, Hilton, Parma,
Price Range: up to $135,000
Timeline: Looking for one that they can fix up and make their own!
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Single Family Home

Buyer Profile: Waterfront, Up to $200,000

2007-09-26T01:39:00.000-04:00

Reference: Kim

Location: Lake Ontario Waterfront
Price Range: up to $200,000
Timeline: Cash Buyer when the right one comes along
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Single Family Home on Water

Buyer Profile: Pittsford, Fairport, Victor, Upscale Home, 4 BR 2.5 BA, 2,500 Sq.Ft. Up to $350,000

2007-09-26T01:36:00.001-04:00

Reference: Vic

Location: Pittsford, Penfield, Fairport, Victor
Price Range: up to $350,000
Timeline: 3 Months
Bedrooms: 4 bedrooms, 2.5 bath
Size Requirements: 2,500 Sq. Ft.
Wish List: Built in the last 10 Years

Buyer Profile: Multiple Areas, 11+ Acres - Horse Barns Up To $250,000

2007-09-26T01:32:00.002-04:00

Reference: Troy

Location: Within 45 min of Rochester
Price Range: up to $250,000
Timeline: By February 2008
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: Horse Barn for 5-7 Horses
Wish List: Indoor Riding Arena - 40'x80'

Buyer Profile: Penfield, Upscale Home, 4 BR 2.5 BA, 2,500 Sq.Ft. Up to 300,000

2007-09-26T01:28:00.000-04:00

Reference: Kristine

Location: Penfield,
Price Range: up to $300,000
Timeline: No Specific timeline
Bedrooms: 4 bedrooms, 2.5 bath
Size Requirements: 2,500 Sq.Ft. Minimum
Wish List: Penfield Schools

Buyer Profile: East Side, $110,000-$160,000 - Lease Option/Rent to Own

2007-09-26T01:23:00.000-04:00

Reference: Melissa

Location: Gates, Greece
Price Range: up to $170,000
Timeline: 6 Months
Bedrooms: Ranch
Size Requirements: None Specified
Wish List: Single Family Home

Buyer Profile: East Side, $110,000-$160,000 - Lease Option/Rent to Own

2007-09-26T01:18:00.000-04:00

Reference: Louise

Location: Henrietta, Gates, Greece, Irondequoit
Price Range: up to $110,000 - $160,000
Timeline: ASAP 12/2007
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Ranch - Owner Finance Option

Buyer Profile: Henrietta, Gates, Greece, Irondequoit, 3 BR - 1 BA, Up to $110,000

2007-09-26T01:17:00.000-04:00

Reference: Angel

Location: Rochester City, Gates, Greece, Irondequoit
Price Range: up to $110,000
Timeline: No Specific timeline
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Must have 2 Car garage Minimum

Buyer Profile: Penfield Busy Road, Office Mixed Use Commercial, Up to $300,000

2007-09-26T01:12:00.000-04:00

Reference: Brett

Location: Penfield High Traffic Area
Price Range: up to $300,000
Timeline: Office Setting - House conversion
Bedrooms: Room for 4 Offices and Support Staff
Size Requirements: Roughly 2,500+ SQ.FT.
Wish List: Zoned Mixed Use

Buyer Profile: Webster, 3+ BR - 2 BA, Up to $160,000

2007-09-26T01:08:00.000-04:00

Reference: Jennifer and Doug

Location: Webster
Price Range: up to $160,000
Timeline: No Specific timeline
Bedrooms: 3+ bedrooms, 2 bath
Size Requirements: None Specified
Wish List: Webster Schools Garage

Buyer Profile: Henrietta, Gates, Greece, Irondequoit, 3 BR - 1 BA, Up to $100,000

2007-09-26T01:02:00.000-04:00

Reference: Pat

Location: Henrietta, Gates, Greece, Irondequoit
Price Range: up to $100,000
Timeline: No Specific timeline
Bedrooms: 3 bedrooms, 1 bath
Size Requirements: None Specified
Wish List: Single Family Home

SOLD him one!!! Buyer Profile: Ontario/Webster, 4 BR - 2.5 BA, Up to $250,000

2007-09-26T01:00:00.002-04:00

SOLD a beautiful home to him in Ontario!

Reference: Jason

Location: Ontario/Webster/Walworth
Price Range: up to $250,000
Timeline: ASAP
Bedrooms: 4 bedrooms, 2.5 baths
Size Requirements: 2,200 Sq.Ft.
Wish List: Large Lot

Buyer Profile: Multiple Areas, 3 BR - 1.5 BA, Up to $115,000

2007-09-26T00:52:00.000-04:00

Reference Name: Chrissy

Location: East Side Suburban location
Price Range: up to $115,000
Timeline: No Specific timeline
Bedrooms: 3 bedrooms, 2 baths Size
Requirements: None Specified
Wish List: Single Family Home

Buyer Profile: Gates, 3 BR - 1 BA, Up to $110,000

2007-09-26T00:48:00.000-04:00

Reference Name: Amy

Location: Gates
Price Range: up to $110,000
Timeline: No Specific timeline
Bedrooms: 3 bedrooms, 1 baths Size
Requirements: At least 1,100 sq.ft.
Wish List: Good Sized Yard

SOLD THEM ONE! : Buyer Profile: Webster/Penfield, 3 BR - 1 BA, Up to $135,000

2007-09-26T00:39:00.002-04:00

Reference Name: Danielle

Location: Webster/Penfield (Webster Schools)
Price Range: up to $135,000
Timeline: January - April 2008
Bedrooms: 3 bedrooms, 1 baths
Size Requirements: the bigger the better, at least 1200 sq.ft.
Wish List: Prefers Plank South Elementary