How to Save 1% and Lose 3% When Selling Your Home

Darryl talks about why it’s important to have a Realtor® at your side as well as the importance of interviewing.

When hiring a real estate agent, many people only consider what their commission rate is. However, when interviewing agents, there’s more you need to consider. You should be sure to choose a Realtor® that has the right fit of expertise, works in the right neighborhood, understands how to interpret the market, is available to help you, and has a system in the background that takes the chaos out of home sales. While paying a higher commission doesn’t always make a difference, paying less can often hurt your situation.

Let’s compare a real estate agents commission to something else. I have a personal experience when I hired an accountant that charged less than others. I thought I was saving money by doing so, but for 3 years, I was paying a large part of my profit back in taxes. Finally, I listened to my friend, and spoke with their accountant. He charged 3x as much as mine. I wasn’t sure I’d be able to afford him and the enormous amount of taxes I was paying at the end of the year. But, this gentleman knew how to do taxes, properly allocate funds, and he was a financial planner. I ended up hiring him, and I received 6x what I’d been paying in. This is why it’s important to analyze the level of skill a professional has when looking at their fees.

Why is it important to have a Realtor® by your side? They serve as a communicator between the home buyer and seller. This is good to have due to the emotional ties we have toward our homes. They help with issues that occur, such as the appraisal comes in lower or a maintenance issue. They can tell you out of X amount of sales, X% accepted an issue that came up during the home inspection. Of course, they get you to the ultimate goal – the closing table. As well as getting everyone to agree to the terms and have the terms be adequate to seal the deal. When hiring be sure to hire someone with the right experience and knowledge as well as someone you trust.

How is your listing price determined? This price is determined by more than looking at what your neighbors home sold for, or what someone said your home is worth. It’s determined by what the buyer thinks, which is more than a standard Comparative Market Analysis (CMA) does. It’s also the job of the Realtor® to educate both the buyer and the seller of the facts and data that determine this amount. This takes the emotional aspect out of the equation to allow each party to make a better decision.

What is the difference between making your house perfect vs. cutting corners? When preparing your home for the market, you may be unsure of how much money you should spend when making repairs. Covering things up instead of fixing, is cutting corners, which I’m not an advocate of. However, there are some individuals that feel if they don’t fix an issue perfectly, they aren’t being fair or honest with the home buyer. But, today’s buyers are looking for homes that are a deal, one with no structural damage. They would prefer an issue being fixed enough for them to be worry free for the next 5-10 years. Otherwise, if you spend an enormous amount of money, the home would be priced out of their market, and not affordable for most. An agent will help you understand the best option for any home maintenance issues that need to be fixed.

Go to 20questionsforhomesellers.com to download a free home seller report with no obligation. You can also schedule a call with me at askinforbaskin.com.

Featured Properties:

1181 E. 131st, Jenks, OK – 10 acres with an option of 58; over 16,000 Sq.Ft.; This is a beautiful custom design and build home. It completely surrounds a private courtyard and pool. There’s an expansion property and lookout tower. This can be a legacy home, or converted into a business. It’d be perfect to hold wedding receptions.

752 Knobb Hill Dr, Cleveland, OK – Sand Springs – $170,000, Split-level, 4 bedrooms, 3 full baths, 3 acres with a lakeside view, easy access to 412, flexible floorplan, grand entry suite.

4706 S. 178th E. Ave, Broken Arrow, OK – $259,000, 3,000 Sq. Ft. 2-story home with 4 bedrooms, and optional 5th bedroom or game room upstairs. Has 2 dining rooms, breakfast bar, 3 living areas and a 3-car garage. Located in Stonegate neighborhood. You won’t find many homes with these features for this price.

940 E. College St, Broken Arrow, OK – Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2-level unit in Broken Arrow. Live a more care-free lifestyle close to downtown. The best of urban village living within a home-town atmosphere.

For a complete list of active listings, visit homeguidetulsa.com

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

The 4 Things Green Country Homebuyers Need to Know About Electric Systems

Darryl & Steve from Murray Electric talk about the 4 most important facts to know about the electric system when buying a home.

If it’s time to buy a home you have plenty of things to think about, plan for and learn. My goal as a Realtor® is to provide helpful advice to homebuyers and sellers alike, so they can make the best decisions for their needs and be happy with the results. One way for homebuyers to close on a property with confidence is to understand key components about a home they are buying.

Steve with Murray Electric has taken a look at my personal list of the top 4 things every homebuyer around the Tulsa, OK and Green Country region should know about in any home they purchase. The verdict is in, Steve seconds the motion of this list, and so without any further delay, here are the 4 things every home buyer should know about the electric system in their house:

  1. What is the Voltage Level of outlets? 220 volts has been standard for quite a while now and is just what’s needed to run most any appliance or electronic device. Homes built before 1950 may have a different voltage of 120, which used to be the standard. If you’re buying an older home, be sure to know the voltage so you can plan accordingly. An update may be needed, or you may need to use gas or propane-operated appliances instead of electric ones.
  2. Is there a Fusebox in the house? It used to be every house had a fuse box, in which as a homeowner you could replace a blown fuse, or ‘Jimmy-rig’ a fuse with a temporary fix (such as inserting a copper penny at the fuse point), until you got the replacement fuse. Fuse boxes and the ease with which they can be ‘McGivered’ has actually created a higher-risk situation in many older homes, to the point that some insurance companies won’t cover a property with a fuse box. A Circuit breaker board is the safer and current code-required way to go.
  3. Where’s the Main Panel? The panel is where your home’s electrical system is controlled and where your circuit breakers are located. Each circuit can handle a certain amount of power running through it. If you have many electrical devices or make some major home improvements in the future, you may need to add to the size of your panel. Knowing where it is will help you access it when a breaker trips, and you’re left in the dark. It’s also important to know if the Main Panel is in a closet or not. Small enclosed spaces for an electrical panel are a higher risk for fire damage. If your main panel is in a closet, speak to the folks at Murray Electric in Tulsa to help ensure it’s in a safe place.
  4. Are the Outlets Grounded? This is critically important with our digital lifestyles. If you don’t have grounded outlets, you’ll want to invest in power-surge protectors. Not only will this lessen the risk of damage to your devices should there be a power surge, but some electrical components won’t work unless through a grounded outlet, such as a coax cable for your TV. One easy way to find out if your outlets are grounded is to get a simple tester at your local home improvement store. For just a few dollars, a tester plugs in and gives you the green light or red to know for sure.

The next time you have an electrical issue come up at home, save yourself a lot of stress and time, by having a conversation with Steve at Murray Electric yourself. This is one local service where there is a live person on the other end of the phone. With two locations in Tulsa (918-835-9605) and Broken Arrow (918-254-9771), help is just a phone call away. Find more information at their website: www.murrayelectric.com.

314 E 112th Street, Jenks, OK

314 E 112th Street, Jenks, OK

Take an eXp 3-D Virtual Tour!

 

This home has a prime location, it’s on a quiet cul-de-sac in Jenks, OK. It features an open great room, island kitchen, flex room office, and whirlpool tub. Three bedrooms are on the first floor and a complete bedroom suite with game room is upstairs. There is a front porch, large covered back porch and the home is constructed of full brick for low maintenance.

 

Contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

A Home Warranty is Peachy Keen for Tulsa & Green Country Home Sellers & Buyers

Darryl talks with Penny Roth of Home Warranty of America, reviewing how risk can be reduced with a home warranty service agreement.

If you own a home and are ready to sell, if your agent is worth anything, they will talk to you about getting a home warranty, known more accurately as a service agreement contract. As a seller, a home warranty is a low-cost way for you to provide a buyer with a bit more peace of mind about your home, and also have some beneficial financial back-up should you need to submit a claim while your house is on the market.

Homebuyers often seek out a warranty, especially in the case of property features being noted as towards the end of life in their condition by an inspector. End-of-life in terms of appliances like a furnace or hot water heater doesn’t mean they are about to break down. It means that the unit is nearing the end of its peak functionality and should probably be replaced sooner rather than later. A seller may not be able to replace all of these items before selling their home, but with a home warranty, a buyer will not have to worry should the time come during the first 13 months of living in their new home; if the need arises, their home warranty is there to help.

But what exactly does a home warranty cover?  As Penny puts it, a home warranty picks up where homeowners insurance leaves off. While your insurance plan is likely to cover damages caused by a leaky faucet, it won’t cover the cost of repairing the leak. A home warranty will. Penny has an excellent way to remember just what a home warranty covers; just remember the word PEACH.

Plumbing
Electrical
Appliances
Cooling
Heating

A home warranty is an ideal way for a seller or buyer in the Tulsa area to hedge their bets and reduce the risk of out-of-pocket costs for repairs within a home. Find out more about home warranty options by checking out the Home Warranty of America website: www.hwahomewarranty.com For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

The Scoop on Mold in the Home- What Tulsa, OK Residents Need to Know


Special Guest, nationally recognized expert on Mold in homes, Tom Brick joins us for a phone interview every Tulsa Home Seller or buyer should know about.

We recently had a client with a mold issue. There was some possible mold found when preparing to list the property, so a mold inspector was brought in for an assessment. Mold, the spores of mother nature which can cause health issues, had gotten into the structure of the house; or so they thought. A second inspection and test showed no high levels of mold. This disparity brought up some interesting questions which we posed to one of the top national experts on mold in the home, Tom Brick.

According to Tom, there are some key things to keep in mind when it comes to mold. First- while there can be health issues, such as respiratory problems, mold isn’t fatal. Second, prevention of mold is the key to keeping your home environment healthy. Third, if mold is suspected, working with an experienced licensed inspector and technicians will be your best resources for mold issues. And fourth, getting a second or third opinion is always a good option to consider.

Mold grows in moist air. With a bit of care and diligent maintenance, most Tulsa homeowners can prevent mold from ever being an issue. This is best achieved with a good HVAC system where the moisture level in the air is kept between 40%- 50%. A good air flow exchange through your air conditioning system is likely to be all that’s needed to maintain this ideal air quality environment.

If a musty smell is noted in a home, or water spots appear on walls or ceilings, your home could be impacting the overall health of you and your family. It’s best to have a mold inspection done, and if needed to have the mold removed by a professional. When mold is confirmed in the home, proper clean up includes keeping the area sealed off from the rest of the house, as molds are airborne spores, disturbing them can send them to other rooms in your home and prolong the issue.

Just as hiring an electrician or plumber is the ideal for complex repairs, so too is working with an experienced, licensed mold inspector and removal service. As mold levels in the air can fluctuate greatly depending on the weather and season, getting at least two opinions is recommended. If both inspections have a large disparity in results, it’s worth it to get a third for a better comparison.

Find out about more things every Tulsa, OK Homeowner should know about mold by listening to the entire phone interview with Tom Brick on The Future of Real Estate is Now. If you have concerns with mold in your home, check out the CDC Government website for more information about mold and air quality, as well as additional resources.

Tulsa OK Real Estate Review: Home Warranties

Darryl talks with Penny Roth of Home Warranty of America, reviewing the benefits of this important added insurance for your home.

A home warranty is something every Tulsa, OK seller, buyer and homeowner should seriously consider. Just as with other types of insurance, a home warranty is in place to help you defray the costs of repairs when things go wrong. As explained by Penny Roth of Home Warranty of America (HWA), this type of coverage is often over-looked yet can be quite beneficial.

With a home warranty close to 120 items which fall under household appliances and systems are covered for repair. This goes beyond standard homeowner insurance policies; good news for policy holders faced with significant damages or repairs. Home warranties can cover items such as appliance repair and replacements, leaking gas or water pipes, plumbing fixtures, alarm system repairs, garage door systems and so much more.

Suppose you have a water pipe leak and your wood floor is damaged. Chances are your homeowners’ insurance will cover the damage to the floor, but what about fixing the pipe? Unless you have a home warranty, you’re looking at having to cover that expense yourself. With a home warranty you can save considerable funds when it comes to home repairs.

Tulsa, OK and the surrounding areas of Bixby, Broken Arrow, Collinsville, Glenpool and Sand Springs, are in a growing sellers’ market. An excellent incentive for home sellers to provide to buyers is a home warranty with the sale of their property. Home buyers can also opt to purchase their own warranty; typical plans last for a year and give a measure of peace that should anything go wrong after moving in, the expense won’t be cost prohibitive.

Even if you’ve been in your home for a while, you can still benefit from a home warranty, the fees are a bit higher, but the expense is worth it for the extra insurance against the unexpected.

Find out more about home warranty options by checking out the Home Warranty of America website: www.hwahomewarranty.com For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

Featured Properties

NEW LISITNG: 1203 W. Austin St. $127,000 3-bdrm, 2-bath, 2 car garage, in South Broken Arrow, great low price for the area- check out the eXp 3-D tour online, this is not expected to be on the market long!

1181 E. 131st Street 16,000 sqft; close to 55 acres, Courtyard, Pool, 4-car garage, $2,400,000. Check the eXp 3-d online tour of this incredible listing. Jinx/Bixby area. Great for a Bed & Breakfast investment.

940 E. College St.  Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2 level unit in Broken Arrow, close to downtown, recreation center across the street. Great for active lifestyle with the best of urban village living and a home-town atmosphere.

2748 E. Admiral Blvd. Reduced Price $104,500. 4-bedroom, 2-bath. Value-priced property. Multiple offers Pending, yet it may not be too late, call today to find out if you can get this incredible home.

26721 E. 80th Pl. South $268,000, 2,698 sqft. need a workshop? Love your cars and recreational vehicles- this is a haven for you- attached garage AND a separate 500 sqft. insulated garage; in Kensington Ridge, near Forest Ridge MPC.