Nothnagle Agents Earn EBA Designation

Congratulations to several Nothnagle agents who recently earned the "Exclusive Buyer's Agent" (EBA) designation.

Years ago, real estate agents only represented sellers. Since the early 1990's, the trend of buyer's having their own exclusive representations has grown, especially in the upstate region where it has become very common place. One designations agents can earn through intensive course work is the EBA. Agents who have completed the course and earned the designation have had extensive training in the areas of:

1. Locating and evaluating property.
2. Negotiation strategies that get their buyers the best price and terms.
3. Lending and financing options.
4. Facilitating inspections, disclosures, contract compliance and the closing.

The following Nothnagle agents recently earned the EBA designation:

Cheri Boisvert

Betty Burruto

Cathy Chrisley

Deborah LaGraff

Michele Ladd

Sandy Maluta

Rita Mendelsohn

Ro Naomi

Janet Romano

Corey Wild

Purchasing Homeowners' Insurance

Homeowners' insurance is a necessity, something every property should have. If you have a mortgage, your lender will require coverage -- and if your home is mortgage-free than you should have coverage anyway to protect what is likely your most valuable asset.

Nothnagle Insurance Agency can make shopping for a policy easier, faster and more convenient...and may even result in a savings for you! The Nothnagle Insurance Agency has an experienced representative on-site ready to work for you. To receive your complimentary quote or review, simply call 785-5558.

Some questions to consider when speaking with the insurance rep:

• What type of coverage do they recommend for your needs?

• What is included -- and what is excluded?

• Are there discounts for safety measures in place in the home (e.g. security system; carbon monoxide and/or smoke detectors, etc.)

• Do you have a home-based business? If yes, you may require additional coverage specific to the type of business you operate. In this case, think in terms of clients dropping by, business equipment, inventory, etc.

• Do you have antiques and jewelry? What coverage are you getting? What coverage do you need?

• How much personal liability protection will the policy provide? What is the cost of additional coverage? What about an "umbrella" policy?

• If you have a loss, will coverage be for actual cash value or replacement cost? Have the insurance representative explain the difference.

• What is the policy deductible? (Generally lower deductibles mean higher premiums, higher deductibles result in lower premiums.)

• How will the policy be paid? If your lender maintains an escrow account, the insurance policy will be paid by the lender -- remember, the house is security for the lender's mortgage. If you pay for property taxes and insurance directly, you will pay the bill.

• Is your home an historic property? If yes, what special coverages are required?

• When a policy says it covers "personal property" what does that term mean? What does it include and exclude?

• How can you reduce policy costs? For instance, if you buy auto and home insurance from the same source will your combined expenses decline?

• What home improvements can you make that would result in lower premiums?

• How are claims handled if you have a loss? For your protection, it's a good idea to photograph or video your home and special possessions -- and then keep such photography in a safe deposit box.

Benefits of Using a Buyer's Agent

As a buyer, you are entitled to use your own agent to help you during your home search and to help you with negotiations. A good, knowledgeable buyer's agent will often be a tremendous asset to you in your search - whether you are a first-time buyer and new to the process or a veteran buyer looking for a new home.

First, your buyer's agent will give you advice on cities/towns, particular neighborhoods, and council you on many other things to consider while conducting your home search, such as the benefits of a condominium vs. a single family, the actual cost of buying/owning multi-families, and ideas on increasing equity in your home and resale factors.

Your buyer's agent will also be able to make good referrals to additional real estate-related professionals, such as insurance agents, home inspectors, mortgage professionals, moving companies and other professionals/services you may need.

Once you find a property, your buyer's agent will do a market analysis, often referred to as a Comparable Market Analysis (or CMA), and will discuss with you his/her professional opinion as to market value based on similar sold properties, the current local real estate market trends, inventory, and other factors. Lastly, the most crucial service a buyer agent can provide is as a skilled negotiator. An agent highly skilled at negotiating could assist you in purchasing the home that best meets your wants and needs for the best price.

Best of all? Most of the time your buyer's agent will be paid from the commission offered by the seller, yet they still owe their full fiduciary duties to you, their client.

Nothnagle agents are trained to know market conditions and are skilled negotiators, offering superior services to buyers. Nothnagle also offers a number of tools to help you in your home search, from a comprehensive database of listings throughout 25 counties in upstate New York (as well as connections to national and global listings), to video tours on YouTube and Nothnagle.TV, to "MyNothnagle" which allows you to register to be notified of new listings meeting your criteria as they hit the market.

Remodeling Cost vs. Value Report 2009-2010

Remodeling Magazine's 22nd annual "Remodeling Cost vs. Value Report" has been released for 2009-2010. The study measures the relationship between remodeling project costs and resale value. The report evaluates the 33 most popular projects from a national perspective and also by region. New York State falls in the "middle atlantic region".

Projects with the greatest return both nationally and within our region include replacing the front door; replacing the exterior siding; window replacement; and, kitchen remodel. Other projects with a higher return also include converting an attic to a bedroom and adding a deck. Projects that have a lower return include home office remodel and bathroom additions/remodels.

While looking at your potential return on resale is important, there are other factors to take into consideration when looking at remodeling projects. For example, if you work out of your house the importance of working out of a comfortable home office may outweigh what your return may be down the road. If you plan to live in your home for several more years, adding on an extra bathroom to accomodate your changing needs may be a very worthwile investment.

While it is true that buyers are more likely to gravitate to homes that are in the best condition for that price range, if you're planning on selling you should consult with your agent before spending money on home remodeling projects. Sometimes it's not worth spending the money on projects that won't pay back; sometimes buyers may want to make the updates themselves.

Preparing Your Home For Sale

Getting ready to put your house on the market? Your agent can provide you with helpful tips to help you prepare and maximize your home's showings. As you prepare for your first prospective buyer to come through, now is the time to make your home shine and sparkle! First impressions are very important.

Step #1: A thorough cleaning is in order! In need of help? Our Home Services division can connect you with the professionals you need to get the job done. Our partners offer a wide range of services as you prepare your home for sale.

Where to begin....

First, you need to dissasociate yourself from your home. Look at it through the eyes of a buyer.

#1. De-personalize your home. You want buyers to come in and picture themselves living there...not you!

#2. De-clutter. This is so important. Now is the time to throw away the stuff you've been saving that has no purpose anymore....or if it is still in good condition, there are many places that will accept your donations. Kitchen counters need to be clear. Closets need to be neatly organized. The junk drawer needs to be cleaned out.

#3. If you have too much stuff, rent a storage unit! You need to create light, open spaces in your home.

#4. Make minor general repairs around the house. Fix the leaky faucet, change lightbulbs, touch up paint, etc.

#5. Make the house sparkle inside and out. A clean porch/walkway and a freshly painted front door can make a huge difference in a buyer's first impression of your home. Inside the house, clean baseboards, windows, polish furniture, dust everything (including light fixtures and ceiling fans) and yes....even the dreaded task of cleaning the oven!

In the end, spending a day or two (or three) cleaning and organizing will give you huge rewards in the end. Buyers like to see a well-maintained home. Combined with proper pricing, you should see results very quickly.