Cheryl Schuck

Sales Associate

My Blog

MANAGING MOLD

4/30/2013
Mold  It is a four letter word that makes most people cringe. 

But contrary to popular belief, not all molds are dangerous; some mold is even quite useful. Fungi and mold naturally occur in our environment. More than 100,000 different types of fungi have been identified. Fungi are present in our everyday lives in bread and baked products; the unique flavor of blue cheese is the result of mold. Though some types of mold can be useful, many other forms can be harmful. Excessive amounts of mold and mold exposure may present health concerns for some people.

The intrusion of water into your home or business may result in mold growth. Water intrusions can be caused by storm damage, plumbing or equipment failures, long standing leaks and poor humidity control. When these water intrusions are not addressed right away, the resulting damage can be an increased risk of harmful mold growth. Mold spores are normally present in most environments. If the humidity and moisture levels in a water damaged environment are not controlled, mold spores 
can grow and multiply. Organic materials found inside a building, like wood, drywall, paper and insulation, provide a food source for mold, allowing growth to flourish. This can lead to indoor environmental conditions that pose a health threat.

Mold is more likely to spread when an environment has been subject to moisture for an extended period of time. If your property has sustained a recent water damage, it is vital to remove excess water and dry the structure promptly. Once the environment is dry, it is important the structure is properly cleaned.

When determining if you have a problem, be alert for: the presence of visible mold, strong musty orders, evidence of past moisture problems and excessive humidity.

15 Sure-Fire Ways to Get Your Offer Rejected!

3/25/2013

You found your Dream House!  After weeks/months of looking at houses, this is it!  Your Agent prepares an offer; you sign it.  But wait - oh, No!  Your Offer has been Rejected!

1.   Offer Price is Low!  This is the first thing that a Seller looks at when in an Offer comes in!  If you believe that a Lower Price is justified, have your Agent present some comparables to back up your offer.

2.  Fail to understand your Local Market  Is it a Buyer's Market, a Seller's Market, or just a Market?  Look at actual sales data, including time on market, inventory (number of houses for sale), and sales price to list price ratios.

3.  Fail to understand the Seller  Moving out of town, moving up, investor unloading an asset, bank owned, short sale, Court-ordered sale...  does your Agent know the motivation or reason of the Seller?

4.  No Pre-Approval Letter or Proof of Funds Letter  Is the Seller supposed to wait a week or two to see if you can afford it?

5.   Ask Seller to Pay All Closing Costs  Asking the Seller to pay $$$ Thousands of Dollars in Costs is effectively lowering the Price!

6.   Low or No Deposit  In some States (including Florida) there is no monetary deposit required.  Your "promise" is considered valuable consideration.  But how do you think those Goose Eggs on the Deposit Line look to a Seller?  

    Or maybe you presented a whopping $500 or $1000 deposit.  The strength of your Offer is reflected in your Deposit!  Even with a 100% USDA Rural or 100% VA Loan, you should still offer a significant deposit.

7.   Contingencies  Financing and Inspection contingencies are common and expected.  But for how long?  Five days looks better than 14 days or 21 days!    

     Other Contingencies can be detrimental to an offer.  For example, "Buyer's Home Must Sell First".

8.   Closing Date  The Seller has already moved out.  Your Offer shows a Closing Date several months from now.  Use your closing date to sweeten the offer.  Try to accommodate the Seller as much as possible.

9.   Asking for Repairs  Especially before Inspections have been done!  Or, when the MLS Listing reads, "As Is, Subject to Inspections".

 10.  Trying to Get a Deal on a Foreclosure  Forget it!  The hucksters on those "Get Rich Quick in Real Estate" Infomercials are either in prison or under indictment.  

11.  Asking for Early Possession  There is a lot of risk and potential liability for a Seller who allows Occupancy Prior to Closing.

12.  "Creative Financing"  Asking a Seller (who has not volunteered) to carry Owner Financing, or asking a Seller to do a Lease Option or Lease Purchase, or a Contract for Deed, or other "Creative Financing". 

13.  Ignoring Seller Requests  Seller has made specific requests in the MLS Listing (preferred Title Closer, length of Closing, days for Acceptance, etc.) and your Offer blatantly disregards those requests.

14.  Not Understanding "Multiple Offers" if you are in a Hot Market  If you are in a Market where Multiple Offers are typical, you MUST come in with your Best at the very beginning!  A low-priced, contingency-filled offer will not warrant a second look!

15.  Your Offer is Never Presented  (yes, it happens)  It may be illegal and/or unethical, but sometimes Agents do not present Offers!

  •     Your Agent may be "embarrassed" over your Low-Ball Offer, so he/she pretends it was rejected. 
  •     An unethical Listing Agent has multiple Offers; she only presents the Offers that will net her both sides of the commission!
It is up to you to verify that your Offer was presented!

Every Real Estate Market is different, every Seller and every Property will be unique.  But the same general principles apply.  A Buyer must present an Offer that is attractive to the Seller. 

DON'T DO ANY OF THE 15 ITEMS ABOVE THAT CAN GET YOUR OFFER REJECTED!!!

HOUSING PARTNERSHIP FREE HOME BUYERS EXPO

3/22/2013

   21st Annual Home Buyers Expo

Since January 2001 over 800 home ownership workshop graduates have purchased a home. Working households of all incomes have benefited from our educational programs:

  • Single of all ages
  • Couples with and without children
  • Single parent families
  • Seniors

The purchase of a home is the single biggest investment you will ever make in your life. Be wisebe prepared. Attend a home buyer education program so that YOU know the process and YOU know how much you can afford. Start planning NOW for your next steps to home ownership.


JOIN US SATURDAY, MARCH 23RD FROM 12:00-4:00 PM

Free workshops include:

  • First time home buyers
  • Foreclosure intervention
  • Credit Restoration
LOCATION:  County College of Morris located at:  214 Center Grove Rd, Randolph, NJRegister in advance by calling:  973-659-9222

FOR ADDITIONAL INFORMATION OR TO REGISTER FOR FREE HOME BUYING CLASSES VISIT:  http://www.housingpartnershipnj.org  or  EMAIL:  Realtorschuck@gmail.com

SEEKING POTENTIAL MORRIS HABITAT HOMEOWNERS

3/13/2013
If you know someone who qualifies and may be interested, please pass along this information.....
Morris Habitat for Humanity seeks low income applicants for home ownership at the following properties: 

A one-bedroom home in a duplex on Hazel Street, Morristown will be renovated and will be sold for $75,000

A 2 bedroom home in a duplex will be built on Willow Street, Morristown that will be sold for $115,000.

Income limits range from $31,000 to $44,000, depending on household size. The selected applicants will be expected to attend home ownership workshops and provide 300 hours of "sweat equity" helping to build their home before it will be sold to them.

Interested parties must attend one orientation meeting prior to applying. Pre-Registration is recommended. Meetings will be held on Thursday April 4 at 7:00PM and Saturday April 6 at 10:00AM at the offices of Morris Habitat for Humanity, 274 South Salem Street, Suite 100, Randolph, NJ. Applications will only be available after attendance at an orientation. Please call 973-891-1934 or email info@morrishabitat.org to register to attend.
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