Why My Clients Like Me

In my last blog, I explained what I like about real estate. This blog explains why my buyers and sellers like me. I definitely go out of my way for my clients. How do I go above and beyond you ask? Read on to find out...

1. I work hard- I have trimmed hedges for clients and weeded their lawns. I have moved 100 photos from someone's walls then spackled and painted them. I have staged, rearranged and moved furniture. I have called around to the whole neighborhood to invite people to an open house.

2. I hold their hands- This is especially important with 1st time home buyers. I provide them with a list of steps and what to expect during the home buying process and give them an idea of their estimated costs.

3. I provide numbers- I offer free market value analyses (MVAs) for sellers. My MVAs are pretty accurate, as I have attended workshops hosted by professional appraisers. I know how much extra a house with a finished basement costs versus an unfinished one, or a house with 4 bedrooms as opposed to 3.

4. I am fair and honest- I am never going to go MIA. I provide frequent communication and have a thorough list of vendors (inspectors, contractors, mortgage reps, attorneys, etc.) clients can work with throughout the home buying or selling process.

Here are a few testimonials from my past clients:

"Our realtor, Anne-Marie Tustin, was nothing short of excellent in helping us find our dream home. We can't say enough good things about her quality of work. She really took the time to understand our "must-have's" and took into account our budget and quick timeline. She showed us a wide variety of homes and ended up finding us a house that was exactly what and where we wanted. In addition, as first time home buyers, she was always available to answer any and all questions. She guided us through the process and had great recommendations for our mortgage consultant and lawyer as well. She made the process incredibly easy. We love our new home and do not plan to leave, but would definitely recommend Anne-Marie to anyone looking to buy or sell." Nico C.

"We have been extremely satisfied with Anne-Marie's services as a realtor. She first helped us sell our house which had many challenges and once we sold our house she helped us in finding our new house. She is a wonderful person and realtor. I would highly recommend her as a realtor." Mark M.

"Anne-Marie is very knowledgeable in the real estate field. Her knowledge and professionalism guided and helped us close the deal in a timely manner. Her willingness to take the extra steps above and beyond what's required is what sets her apart from other agents I have dealt with. I would definitely work with her again in my future real estate [investments] transactions. [She] is a great agent to work with. Always punctual, responds very quickly to questions and e-mails. We are very satisfied with her service." J. and J. L.

"Anne-Marie was very helpful throughout the process of renting my apartment. I highly recommend her." Isabelle D.

For more information about me and the services I provide, call, text or e-mail me and see for yourself!

Anne-Marie Tustin
Sales Associate
Licensed in NJ & PA
Keller Williams Realty
100 Canal Pointe Blvd., Suite 120
Princeton, NJ 08540
609-987-8889 Office
609-575-8801 Cell
atustin@kw.com
www.Anne-MarieTustin.com

Why I Like Being a Realtor

      Sometimes people ask me what I like being a real estate agent. Other times people ask me why they should choose me to sell their house or to find a new home. Well, I gave those questions some thought and here are my answers....

 

1.     Meeting new people- my clients have touched my life in different ways and I sincerely enjoy helping them.  Some are facts and figures people and want to strictly get down to business. Others are emotional and like to chat about their lives which is often very enjoyable. I have to say that I have learned a lot from my clients.

2.      Being out and about- my job is not boring. It would be difficult for me to sit at a desk all day. I am always active… you may find me walking the streets delivering “Just Listed” postcards in a neighborhood, going out on a listing presentation or showing buyers potential homes. But with all the technology out there, I am reachable 24/7 (well, maybe 12/7).

3.       Learning new things- I don't claim to have all the answers, but if I don’t know the answer to something.. I  will research it and find out. Here are some situations that I have had to learn more about and problems I have solved:

a) Aluminum wiring- Aluminum wiring in a house can pose some problems. For more information on what to do about that, visit the Consumer Product Safety Commission's website at: http://www.cpsc.gov/CPSCPUB/PUBS/516.pdf

b) Mold- Some mold can be dangerous and is important to identify. Certain mold, including toxic mold, should be treated only by a professional. Find more information on mold here: http://www.cdc.gov/mold/cleanup.htm 

 

c) Radon- Repeated exposure to radon gas can pose lung problems if it is above 4 pCi/L. At or above this level of radon, the EPA recommends you consider installing a radon remediation system to reduce your exposure. For more information visit: http://www.radon.com

c) Termites- Termites can cause a lot of damage to a home. Often, you can tell if you have termites if you notice what looks like dried mud tubes. To learn what to do about termites, visit: http://termiteshq.com/6signs-termites-infested-home

d) Gas line easements- Rights-of-ways and easements provide a permanent, limited interest in the land that enables the pipeline company to install, operate, test, inspect, repair, maintain, replace, and protect one or more pipelines within the designated easement. Generally, property owners are prohibited from installing any structures, storing anything that could be an obstruction, or planting trees or shrubs along the right-of-way.

e) 203-k construction loans- These loans are used to repair or rehabilitate single family homes. These loans help you finance a "fixer upper." To learn more, visit: http://porta.hud.gov/hudportal/HUD?src=program_offices/housing/sfh/203k

f) Home warranties- Some sellers offer a one year home warranty to the buyer, which usually covers the cost of repairing appliances (minus deductible) if something goes wrong. They are relatively low cost. Check these out at: http://www.ahs.com

g) Home owner's insurance for investment properties- If you have a rental property, it is best to let your insurance company know, as this situation requires a special type of policy. Compare different companies at: http://www.bankrate.com/finance/insurance/renting-out-a-home-get-right-insurance-1.aspx

h) Historic home remodel requirements- If your home is considered historic, or in a historic district, you probably can't just put up any new front door for example. If your property is located in a designated historic district, you may need to seek the approval of the local Historic Preservation Commission before remodeling the exterior.


i) Raw land- Many lenders are not willing to lend money to purchase raw land. In addition, there are many other thing to consider such as whether the land has access to public utilities (electric, water or sewer) or if the land will support a septic system. A perc test and survey will need to be done as well. For other considerations, visit: http://www.streetdirectory.com/travel_guide/4584/home_improvement/getting_raw_land_not_a_raw_deal.html

i) Underground storage tanks (USTs)- USTs can pose problems if they have corroded and are leaking substances such as oil. If you are concerned about USTs on your property, contact the appropriate company and they can do a sweep for one to see if one is present and determine whether the soil has been contaminated.

k) Short sales- Short sales are potentially better for your credit then letting your home fall into foreclosure. Short selling involves a multi step process you go through to get your mortgage lender to approve a lesser amount than what you owe. This often happens because a home was purchased at the height of the market, around 2006 and now must be sold for less, as market values have decreased since that time.

So, I hope your career is as rewarding as mine is. In my next blog post, I will write about what my clients like about me.


Anne-Marie Tustin, MBA
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Market Value Analysis: What's Your Home Worth?

Often people are curious as to what the value is of their home. This could be for mortgage refinancing purposes, tax valuation reasons, or because they want to know how much money they might get for their home if they sold it.


Many factors play into what a home is worth. If you are planning to sell, it is important to price your home fairly and accurately from the beginning. Doing so should generate the most showings and potentially multiple offers. In addition, this often gives you, the seller, the upper hand in terms of negotiations.




Statistically, it has been shown that homes that are priced correctly sell for closer to their listing price than homes that are overpriced. And these houses generally sell in half the time as well.


To determine what someone's home is worth, I complete a market value analysis. I do this by looking at other houses that have sold. I take into consideration three factors when looking at comparable properties (CP):

1. Distance: CP should be 1/2 mile or less from the subject property
2. Similarity: CP should be similar in style and size
3. Date: CP should have sold within the last 6 months

Occasionally finding homes that are close, similar and have sold recently is not always possible. What if the subject property is a multi family property and only single family houses have sold lately? What if the last similar condo in the development sold 2 years ago? What if the house is out in the country with no other comps for miles and miles?

These issues can create a challenge. This is where I have to make adjustments. Some of the adjustments I might make include the age of the home, the number of bathrooms, square footage, renovations that have been done (bathroom or kitchen), garage (yes or no, attached or detached), basement (none, full, partial, finished or not, walk-out), patios/decks, fireplaces, new windows, or new HVAC. In terms of location, I might make adjustments for whether or not the property is on a busy road, near power lines, or has significant acreage. I have rough dollar values for all these factors and add and subtract based on how my subject's property compares to the close, similar, recently sold properties.

Then, I input all these items into a spreadsheet with the subject and at least 3 comparable properties side by side for comparison purposes. This is how I come up with an estimate of the market value of a home.


If you are interested in knowing how much your property might be worth, please contact me for a free market value analysis:


Anne-Marie Tustin, MBA
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Short Sale vs. Foreclosure.. Which is Better?

A lot of people ask me, "What is a short sale? How is it different from foreclosure?"
A short sale is when someone has to (or wants to) sell his/her house but owes more on the house than the house is currently worth. People often find themselves in this situation when they bought their homes at "the height of the market" back in 2005.


A short sale doesn't mean your house won't sell..it will just take longer, and the process is quite tedious, but it is not impossible to have a favorable outcome. The first step when you are ready to list your home is to find a real estate agent that is familiar with short sales. The agent will need to offer advice on your home's current market value based on recent homes that have sold in the area.


The agent will need to alert potential buyers that the home is a "short sale", which gives them an indication that the process is more involved than a normal sale. Once an offer comes in, the offer will need to be submitted to the bank that holds the mortgage(s) for approval. The approval process is different depending on the bank. Many times, it can take several months to get an answer from the bank.


Along with the sales contract, there is quite a bit of paperwork that needs to be submitted to the bank including a hardship letter detailing why the seller is having trouble paying his/her mortgage, or why he/she needs to sell the house- job loss or transfer, death, divorce, etc. Tax returns, recent paystubs and bank statements will need to be included as well. Plus, a HUD-1 form detailing all the fees and closing costs associated with the deal, as the bank will want to know how much they can expect once all is said and done.


Once the bank receives the sales contract, buyer's mortgage preapproval letter or proof of funds, and deposit money, along with the financial package described previously and a comparative market analysis, then a negotiator is assigned to the case. After a few weeks the bank will have their own appraiser determine the fair market value of the property, (called a BPO).


During this time period, it is important for the listing agent to keep in contact with the bank and be on top of the process. Like I said, the approval process can take 2-6 months and sometimes you get to the end, only for the bank to turn down the deal. However, even if the short sale is approved, it is possible that unless negotiated with the bank, the homeowner may be liable for the "deficiency balance," or the difference between what the house sold for and what was actually owed on the mortgage.


Banks do seem to be becoming more and more flexible, as they realize that they will likely get even less money if the home goes into foreclosure, and they are not in the business of owning houses. With foreclosure, the homeowner becomes so far behind on his/her mortgage payment, that the bank works to obtain ownership of the property and evict the homeowner and auction off the property.


Having a foreclosure is worse on your credit history than going through a short sale. Foreclosures stay on credit reports for up to 7 years and it may be difficult to buy a property during that time, or even to rent a house. With a short sale, it may say that your mortgage balance was settled for less than the full amount, but it won't have as much of a negative effect as a foreclosure.


So all that being said, there are several reasons why if at all possible, it is better to do a short sale than to let your home fall into foreclosure. For more information, check out: http://www.makinghomeaffordable.gov/programs/exit-gracefully/Pages/hafa.aspx.
If you are considering a short sale, feel free to contact me at the number or email below.


Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Do I Need a Real Estate Attorney When Buying or Selling a Home?

Many people ask me, "Do I have to hire an attorney to represent me when I buy or sell a house?" The short answer is, "No." That answer is different, however, from what you SHOULD do. Also, whether or not people hire an attorney is different geographically speaking. For example, in Pennsylvania, people don't really use attorneys. The same holds true for certain parts of New Jersey. Most of my transactions occur in Central NJ, and almost every client of mine has used an attorney, with rare exception.


Real estate contracts in New Jersey clearly state that Buyers and Sellers will not get any legal advice unless they have their own lawyer and that real estate agents cannot represent their clients with respect to legal matters. The contract also states that the contract will become final and binding unless an attorney cancels it within three business days following signing of the contract. The contract mentions that a buyer without a lawyer runs special risks, including issues relating to the seller's title, surveys, inspections and other areas.


What this means is that, if the buyer in the transaction wants to cancel the contract within the 3 day rescission period, that party must hire an attorney to do so, otherwise the seller isn't obligated to return any deposit money. Attorneys can help explain parts of the contract that aren't clear, as well as add or change wording such as, "seller limited to $2000 with respect to requests for inspection repairs." Or, "subject to house appraising for contract price or higher, otherwise either buyer or seller can cancel the contract without penalty or re-negotiate the price."

One of the main things an attorney does is process all the paperwork and the closing is often held at his/her office. If the buyer chooses not to hire an attorney, the closing usually takes place at a title company and any deposit money is held in escrow by the buyer's real estate agent. Real estate attorney fees are fairly reasonable (around $600-1000) and can be worth it for peace of mind.

Speaking from personal experience, an attorney has helped get my buyers out of jams a few times.. A lawyer might especially be important if you are an out-of-town buyer, the property is a short sale/foreclosure/estate sale, or located in a flood/earthquake zone. If you would like a referral for a real estate attorney in Central New Jersey, please contact me at atustin@kw.com or visit my website at www.anne-marietustin.com.


Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Top 10 Home Improvement Projects... What's Worth It, and What's Not

So you want to re-do your kitchen.. maybe build a deck...refinish your basement.... Which projects will allow you to re-coup the most money when you end up selling? Of course part of the answer depends on how much you are willing to spend. For the purposes of adding value, we will look at money being no object. However, we live in the real world, so I will also offer suggestions for those on a budget. These are the projects that generally re-coup the most money when you go to sell your home- in no particular order:


1. Kitchen remodel- Major kitchen remodels include luxuries such as new 42 inch cabinets, granite countertops, stainless steel appliances, a new sink and ceramic tile flooring. A minor remodel would involve new doors for existing cabinets plus new hardware, a new sink, and new countertops- with composite counters being less expensive than granite or quartz usually.


2. Bathroom remodel- Major bathroom remodels involve basically gutting the old bathroom and replacing everything including the toilet, vanity, expanding the shower, and new ceramic tile flooring. Minor remodels could involve putting a new liner over your existing tub, replacing the toilet, getting a new faucet, mirror and light fixtures.


3. Bathroom addition- Another bathroom is particularly valuable if you have only one bathroom in your house. However, once you have more than 2.5 baths for a 4 bedroom house (for example), an additional bath can be overkill, in which case adding another bath won't get you as much return on your investment.


4. Finishing basement/attic- Finished basements and/or attics definitely add value to your home. With all the work to be done (electric, walls, ceiling and floors) this is not an inexpensive project. There really isn't a way to do this on the cheap. So, if you can't afford this and you just want your kids to go down and play pool or ping-pong occasionally, throw down an old carpet remnant and be done with it.


5. Adding a deck- When adding a deck, your choices are either wooden or composite. Many people like the idea of a deck that doesn't require a lot of maintenance. There are many different "maintenance free" options out there. And you won't have to stain, seal or paint like you would with wood! The smaller the deck, the less expensive it should be of course.


6. New siding- New siding is important if your house looks "tired." Siding can fade, become damaged, or parts of it may fall off. Replacing siding, especially rotted wood or older dented or cracked siding with new siding can make your house look refreshed. Options include stone veneer, brick, engineered wood, stucco, cedar shingles, steel, aluminum and vinyl. Like most things, each has its own pros and cons and cost variations.


7. New roof- Roof replacement can be a very important home improvement because if your roof leaks, it will just create other problems for you. Dimensional asphalt shingles are popular now. Consider going with multi shades too for added dimension. An old looking roof says "I don't really care about my house." Roofing materials come in a variety too from typical asphalt shingles, to wood shingles, to slate. To save money, you could consider roofing over existing materials, particularly if there is no rotten plywood to be replaced.


8. New windows- New windows not only look nice, they are much more efficient that older windows. Plus, the new tilt-in windows with grids in between the panes of glass make for easy cleaning! You have different options with windows too...wood or aluminum windows you can paint, but aluminum windows aren't necessarily as energy efficient. And wooden windows require maintenance. Vinyl windows offer more insulation, are low maintenance, but not paint-able. Garden windows look nice in kitchens and casement windows are becoming popular as well. To save money, consider replacing a few windows each year, like replacing front windows first.


9. Landscaping- The most important thing to remember when landscaping is to have a plan. "Piecemeal" landscaping won't appeal as much to a buyer. Must-have's include shade trees- which help keep houses cool in the summer and soak up waterlogged yards. Just don't plant trees too close to your house! Other popular options are perennial plants, retaining walls (terracing), outdoor lighting and re-doing walkways or patios with pavers or stamped concrete. If you just want to spend a little money, plant nice flowers, maintain your grass, and put down new mulch.


10. New front door/garage door- The front of your house is what people see when they first pull up in the driveway. First impressions count! You want your house to look nice. Replacing your old front door or garage doors with new, energy efficient/ low maintenance doors look nice and add value. Plus, they're not that expensive relative to the other projects. Options include steel, fiberglass (long lasting), and wood (looks nice, but expensive and high maintenance).


Of course there are many other minor remodeling projects that don't cost a lot of money! Interior painting can really spruce up your house, as well as replacing worn-out carpet with new carpet or hardwood floors, and adding more lighting to your home to brighten it up.


For an idea of what these projects might cost and an estimate of how much you'd re-coup, visit Remodeling Magazine's website at http://www.remodeling.hw.net/cost-vs-value/2014/ . Good luck!

Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Eeny, Meeny, Miney, Mo...Choosing a Realtor to Sell My Home!

Realtors are a dime a dozen. How do you choose one?  Throw darts at the photos of all the local agents advertised in Sunday's newspaper?...Use Google to search through the 3000+ results when "real estate agent Central NJ" is typed in your search bar? My answer: personal recommendations or referrals from friends and colleagues is always the best. However, if that's not possible, use some of the criteria listed below to help you choose:


Knowledge of Area- Consider an agent who knows the area, is knowledgeable, and can provide accurate comps for the area. Has that agent personally been inside those sold homes in order to compare your home to those? How would he/she be able to give you an accurate market value estimate if not?


Personality Type- Some people are "numbers" people. Other folks are "people" people. Do you want a real estate agent who is more fact-oriented and analytical, or one with whom you can connect on an emotional level? Personality fit can be important since your Realtor may be someone with whom you are working for (hopefully not) quite awhile.


Staging Recommendations-Your agent should also be able to give you ideas about how to stage your home. Do you have too much stuff? What are some inexpensive ways to make your home more attractive to potential buyers? And even if you've already moved out of the home, virtual staging can make online photos look like you still live there! Check out http://virtualstagingsolutions.com/gallery/ as an example of how to stage an empty house.

Business Plan/Calendar- A good agent should provide you with a business plan and calendar of events. If possible, you should receive this prior to your agent coming over to discuss listing your home. It is important to know not only what an agent will do to market your home, but also when he/she will do it too.

Marketing Plan- Your agent should have a very specific marketing plan for your home including the following:

• Signage- Does your agent use a cheap, metal sign or an eye catching sign hanging from a nice sturdy post with his/her contact information on it for passers by?
• Postcards, doorhangers- These should be mailed to your target buyers and placed on doors throughout your neighborhood. 
• Flyers, community, township and school information- These should be professional looking pieces of information left out on the counter or a table for buyers to pick up during showings.
• Unique website- Will your agent create a website that is just for your home, such as www.123MainStreet.com ?
• Other websites- Ask your agent how many websites your home will be featured on. At my company, once a listing is input into the MLS (multiple listing service) it populates to over 200 other websites including www.realtor.com,  www.trulia.com, and www.zillow.com . Ask how many photos your home will have on Realtor.com (there can be up to 35), since many agents just put 1 or 2 photos and not much of a description at all!
• Photos/virtual tour- Pictures should be professional looking and show off your home's great features. Your home should also appear spacious and inviting.
• Open houses- Is he/she willing to do an open house? Not all agents want to spend their Sunday afternoons sitting around your house. It statistically isn't the way most houses get sold, but it does help generate some interest in your home.

Designations- Designations show that your agent has taken the time to go above and beyond, and learn more about a specific group of people. These could be seniors (SRES), buyers (ABR), or people who might have to do a short sale in order to sell their home (SFR).


Length of Time in Business- How long has he/she been in real estate, and/or how many transactions has he/she completed? With each transaction brings more experience and knowledge. There are so many different things to learn in this industry, from dealing with septic systems, to replacing aluminum wiring,  to what happens if my house doesn't appraise high enough? Agents need to be competent problem solvers, and if they don't know the answer, he/she should be able to find out!


Above and Beyond- What are some ways this agent has gone above and beyond to sell a home? For example, I have personally moved heavy furniture, taken down "a million" pictures and spackled over the nail holes, and trimmed hedges to help sell homes.


Communication- This is the most important thing to consider when choosing a real estate agent! It goes without saying that when buying and selling a home, communication is key! This includes regular feedback - before and after showings. Or communication about why there have been no showings lately. Your agent should ask which method of communication your prefer...email, phone call, or text and let you know how often you can expect him/her to contact you.


Finally, since I did say that recommendations are key, feel free to visit my website at www.anne-marietustin.com for my personal recommendations. Now, have fun searching for that agent!

Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com