4200 Elizabeth Avenue - Rent - Buy - Rent with Option

Very cute two bedroom, two bath home convenient to shopping and employment is available for rent or purchase. The current tenant will be moving out August 16,2011. If you or your client needs to rent but ultimately wants to buy, this home could be for you. Many folks moving here for employment or with USMC orders may have a home elsewhere that has not sold. Most folks would not want to move twice. We can fix that. My client (my sister) will rent this home for $795 per month and will enter a contract for sale for $109,000 with a due diligence period equal to the lease. In plain language that equates to renting with an option to purchase. This a no risk opportunity for someone who needs a rental but would like to purchase a later date.

We are looking for a tenant purchaser who is credit worthy. Please have a credit score of 680 or higher. Someone who is trying to repair their credit is not eligible.

This home has an open floor plan. The bedrooms are split. Great for roommates or small families. The master has an incredible walk in closet and large master bath. The kitchen has a large pantry cabinet and lazy Susan  lower. The home sits on one of the larger corner lots in the neighborhood. But not to worry the POA keeps the yard mowed. This make this home great for someone who travels or works long hours. It is a great neighborhood for someone whose spouse may deploy.

If you have an interest or have a client for whom this home would work call me at 252 635 1100. If you are working with a Buyer's Agent give them the address or MLS number 82400 and they will arrange for a viewing. For more pictures and information visit the web page below.

http://gary-barker.com/4200elizabethavenue.html

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Do I need a buyer's agent?

The answer for almost everyone is a yes! Sometimes people think they can save money by not using a Realtor. By the way not all real estate agents are Realtors. A real estate broker using the title Realtor has voluntarily joined an association that requires higher standards of education, ethics and professionalism.

In most markets sellers sign listing agreements with Realtors. Those agreements many times call for that agent to share the commission with a buyer's representative. So if you purchase the property without using a buyer's agent the full commission is paid to the selling agent. The seller' net proceeds is the same and you have not realized any savings. In most cases without the advice provided by an agent you will have paid more or made expensive mistakes.

A good buyer's agent will have assisted with finding home inspectors, lenders and closing attorneys that are competent and reasonable.  A buyer's agent will have the resources to provide comparable sale data. He or she will also have experience in negotiating price and other terms. A Realtor will provide standardized contracts that are fair, clear and that avoid pitfalls for buyers. If you buy a home that is listed, the seller will have a seasoned professional on their side. They have handled dozens or even hundreds of transactions. My fellow Realtors are very good at what they do. Going into a real estate transaction without a professorial on your side would be like stepping up to the plate at a  MLB baseball game without ever holding the bat. Unless you get hit by the pitch the outcome will be you walking back to the dugout talking to yourself.

OK, you are still determined to try to save a few dollars. Perhaps twenty per cent of real estate may be sold as a for sale by owner(FSBO). Your thinking I can get it for the fair value minus the commission. Who determines what the fair value is? Do you have the experience and files necessary to make that judgement? Do you know how to determine the heated square footage of the home? Is the seller's asking price fair? Many FSBO are priced well above fair market value. Many FSBO have been rejected by brokers because the owners insisted on prices well above the market value. This is especially true for properties bought at the peak of the market.  Do you know how to search out that information at the Register of Deeds?

Perhaps the property has hidden flaws that the seller does not want to disclose. Licensed real estate brokers are held to a much higher standard than an individual seller. Once you close on the transaction getting any relief from the seller will be very difficult. Realtors and other licensees are required to reveal any material facts that can effect the value of the home you are purchasing.

For most the purchase of their home is the largest transaction they will ever have. Can you afford a mistake? Enlist the help of a Realtor willing to represent your interest to the exclusion of all others, even his own. When purchasing real estate employ a Realtor. I believe it will save you heart ache, time and money.

Gary Barker

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Trying to Sell - Clear the Clutter

We live in a time of a competitive real estate market. You need every advantage available. In my reading, I find a lot of discussion of properly staging a home. One of the first things discussed is getting rid of the clutter. Listen to your Realtor, they can help you decide what needs to go. If budget allows use a professional stager. Some Realtors may provide this service for a small fee.

It may be a good time to throw some things away. They say that if you have not used something in three years it needs to go. If you can't pull the trigger on that option it is time to get some boxes and begin the moving process. Having a head high stack of boxes filling up the garage isn't the answer. The potential buyer wants to see that their boat, jet ski, Harley and grill will fit into the garage.

The solution, rent a space at your local mini storage. Face the fact that you will be moving anyway. If you unclutter that will happen sooner. Many people have too much furniture in their rooms. If your stager or Realtor suggest moving some out, heed their advice. When moving day comes there will be less to move. Pack away those things that haven't been used in a long while. Put the items that you think you might need near the door of the mini storage.