Blog

What does a real estate agent actually do?

by Mike Oddo

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    Being a real estate agent requires you to employ a significant number of skills to complete a variety of different tasks on a daily basis. Trying to put what an agent does each day in one or two sentences is virtually impossible to do. It would be like trying to tell you what a chef does “cooks food” or what a nurse does “takes care of patients”. There’s a lot more that goes into what they do than just “helping people buy or sell properties”. If...

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Why you should make a list of the top 20 features you love about your home when selling?

by Mike Oddo

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    Who knows your home better than you do?   The short answer is nobody.   And because of that, you should take the time to make a list of the top 20 features you love about your home before you put it on the market.   You see, if you like those things about your house, then so will someone else. And, in an effort to help your agent get your home sold faster and for more money, it will help if you point out the things you really dig about your home that...

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What's the right amount of money to spend in upgrading your home?

by Mike Oddo

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  You’re wanting to freshen up your house a little bit and you’ve already determined what you think you should do to make it amazing for you to really enjoy it. Before you jump into your renovation project, make sure you set a budget so you can spend the right amount of money upgrading your home. Without a plan and a budget, you can spend tons of money on all kinds of neat options — from a new marble island-top for your kitchen to a swanky hot tub for your backyard...

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Your home is under contract, what’s next?

by Mike Oddo

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    Great news, you’ve put a home under contract and you’re excited to move in one day soon.  There’s a lot that has to happen before you can take occupancy: home inspection, appraisal, financing paperwork, contingencies and other dates to be met. Here’s what you can expect to happen over the coming weeks. Due Diligence Now that the home is yours to negotiate exclusively with the seller, you have a due diligence period that allows you to...

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Top deal breakers for a home under contract and how to fix them

by Mike Oddo

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    Selling your home, while exciting, can also be extremely stressful. Even the best of real estate agents have to deal with complicated issues that arise with a home sale. In fact, you’ll find that even when seller and buyer get along great and the sales process is humming along smoothly that challenges can crop up requiring lots of negotiations and may delay the transaction weeks before you can close on the transaction.  Conversely, some deals are complicated...

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Marketing Strategies: Luxury homes vs average priced homes

by Mike Oddo

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    As you can imagine, driving up demand for a luxury home takes a uniquely different approach than does selling a regular home.   From the word, go, you need a strong, clear and focused strategy that details how it will position your luxury home above the ordinary, illustrating and marketing its unique features in proper manner to perfect buyer at the perfect price. There are some very different ideas, thoughts and strategies around marketing a luxury home, which in...

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What happens when you overprice your home?

by Mike Oddo

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    When the real estate market favors sellers, it’s almost like there’s a feeding frenzy among buyers trying to secure listings that seem to get snapped up within hours of being put on the market.   Such demand drives the prices of homes up rapidly, which only feeds into the perception that the good times will last forever.   Unfortunately, trees don’t grow to the sky and there will always be a top of the market. What this means is that even...

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How to handle a multiple offer situation

by Mike Oddo

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    Over the last five years, properly priced homes have been fetching multiple offers on a consistent basis.    It is, without a doubt, a seller’s market.   But as exciting as having a bidding war on your property is, it can also provide for some confusion and even anxiety in figuring out what to do with all those offers.   Your natural instinct might be to choose the one that lets walk away with the most amount of money, but there are many...

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Why you should wait to buy that car until after your home purchase?

by Mike Oddo

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    Getting preapproved for a mortgage is a major step in buying a home. When done properly, it’s like having cash in your hands so you can negotiate effectively with a seller to buy a home.   It’s easily one of the most important things you can do in order to buy the home of your dreams.   But its name gives you a hint as to how fragile this financing instrument can be.   You see, it’s a “pre” approval, which means you’re...

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What is the Interest write off deduction?

by Mike Oddo

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        Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income.    Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes.   This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you...

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