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When Is a Real Estate Agent a REALTOR®? A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world’s largest professional association. The term “REALTOR®” is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and abides by its strict Code of Ethics. Founded in 1908, NAR has grown from its original nucleus of 120 members to more than 1 million today. NAR is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry. Members belong to one or more of 1,700 local associations/boards and 54 state and territory associations of REALTORS® and can join one of our many institutes, societies, and councils. Additionally, NAR offers members the opportunity to be active in our appraisal and international real estate specialty sections. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice. Working for America’s property owners, the NATIONAL ASSOCIATION OF REALTORS® provides a facility for professional development, research, and exchange of information among its members. Check out the Public Awareness Campaign television and radio spotsthat encourage consumers to rely on the expertise and integrity of REALTORS®. The NAR advertising campaign runs February through November on network and cable television and network and satellite radio, helping consumers understand the real value of working with REALTORS®. From their voluntary adherence to a Code of Ethics to their incomparable knowledge of real estate processes, REALTORS® are the experts of residential and commercial property transactions. Santa Realty are REALTORS located in the Farmington Valley, proudly serving all of Hartford County, and surrounding areas.  Contact the #1 Real Estate Company in CT today for all of your real estate needs!

5 Secrets Your Contractor Doesn’t Want You to Know You’ve asked friends to recommend great contractors, picked your favorite,  checked references — and maybe even conducted an online background check on his business. So  you know you’ve found a top-notch guy for your home improvement project. But remember that his bottom line is getting you to sign a  contract, and he’s not going to mention anything that might get in the way.  Before you make a commitment, here’s what you need to know in order to protect  your own bottom line. 1. He’s desperate for your business As tough as the  economy has been overall, the construction industry has been in far worse shape.  While the national unemployment rate has hovered around 8%, for construction  workers it’s been a whopping 17% and higher. What you should  do: It doesn’t mean you should play hardball with your contractor on  his price (because he might cut corners on the job if you do), but if you ask  for an itemized bid, and explain that you’re getting them from a few  contractors, he’s going to sharpen his pencil and give you his most competitive  price. 2. He’s going to farm out the work General contractors  often don’t do the physical work themselves. They might have been carpenters or  plumbers, but now that they run their own businesses, they’ve retired their tool  belts. Instead, their role is to sign clients, manage budgets, and  schedule a cast of subcontractors. When he’s trying to win your  business, a contractor can be pretty vague about how involved he’s going to  be — and who will be running the job day-to-day. What you should  do: Inquire who will be in charge of the jobsite. Ask to meet the job  foreman, preferably while he’s at work on a current jobsite. “Maybe he’s a chain  smoker or doesn’t speak English or who knows what?” says Stockbridge, Mass.,  contractor Jay Rhind. “You want to make sure you feel comfortable with  him.” 3. A big deposit is unnecessary — and possibly  illegal When you sign  a contract, you’re usually expected to pay a deposit. But that’s not for  covering the contractor’s initial materials or set-up costs. If his  business is financially sound and he’s in good standing with his suppliers, he  shouldn’t need to pay for anything up front. In fact, many states limit a  contractor’s advance. California maxes out deposits at 10% of the job cost, or  $1,000 — whichever is smaller. What you should do: If  your contractor is asking for, say, 25%-30% of a job that’s not even due to  start for a while, offer to give a more nominal amount (5%-10%) with the  contract and the rest on the day the work commences. 4. He’s not  only marking up labor, but materials too No contractor wants to  talk about it, but he’s going to mark up everything he pays out to make your job  happen. That’s fair; it’s how he pays his own overhead and salary. Keep it in  mind that the 10% to 20% mark-up applies not just to materials but labor costs,  too. What you should do: If you can handle buying items  such as plumbing fixtures, cabinets, countertops,  and flooring, ask your  contractor to take them out of his bid price. Be sure to agree on specific  numbers and amounts of what you’ll be buying, and that you’ll have the items to  the jobsite when they’re needed. You could save 10%-20% or more from what your  contractor might charge. 5. He’s not the design whiz he claims to  be Sure, there are contractors who have strong design abilities.  Chances are, however, they’re spending a lot more time running their businesses  than honing their design chops. What you should do:  Don’t count on a contractor to design your space and add clever details, unless  he clearly demonstrates his abilities and has a portfolio of his own designs.  Ask his references specifically about his design skills. Otherwise, you’re  better off hiring  an architect for overall planning, and a kitchen and bath designer for the  details. The cost of those design professionals usually is compensated by  efficient planning and problem-free design work.  

Affordability Options For First-Time Buyers Try fixer-uppers and smaller homes By Broderick Perkins First-time home buyers who want affordable homes may want to take a hard look at fixer-uppers, smaller homes and cheaper commutes to work to save on the costs of buying and owning a home. Real estate brokers say many home buyers expect more than they can afford in a home and once they start pounding the pavement for housing their disconnect could be discouraging. In an online survey of 150 of its brokers, Coldwell Banker discovered some disturbing trends among first-time home buyers. While nearly half of the Coldwell Banker brokers surveyed said affordability was the No. 1 concern for first time buyers, 81 percent of those buyers also consider move-in conditions to be very important when searching for homes. Only 7 percent are considering fixer-upper homes. The real estate company suggests more buyers should examine the fixer-upper option — among others — to get the affordability they seek. “In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate, LLC. “It is important for first-time homebuyers to remember that by considering a fixer-upper for their first home purchase, they can build equity over time and later move up and into their second-stage home that better reflects their expectations,” he added. Buyers looking for affordability who go with the fixer-upper option should get the home professionally inspected to determine what fixing up is necessary, and certainly not bite off more than they can chew. Even homes that need a basic face lift — paint, carpeting, landscaping, window treatments and other cosmetic touches — can come with big savings. Homes that may require professional upgrades cost even less, but the buyer has to weigh the discounted price against the cost of the improvement. Coldwell’s study also found some disconnect between affordability desires and what buyers want in home size and its location. The vast majority of first-time buyers, 71 percent, were looking for larger homes than they were 10 years ago, brokers reported, but bigger isn’t better when it comes to price. A smaller single-family home or a condo or townhome can be cheaper by virtue of the smaller footprint and square footage. The smaller cost on a smaller home also could come with affordability Forty-one percent of brokers also said, for their buyers, proximity to their workplace was numero uno when it came to considerations made when looking for a home. Higher gasoline prices have made the job center location factor even more crucial, however, in most metros, a home’s proximity to employment centers comes with an added cost. Homes nearer job centers cost more because of the added value of reduced transportation costs and time (which is money) spent commuting. However, buyers can enjoy the best of both worlds if they purchase a cheaper home away from job centers, but in a transit oriented development (TOD) or other distant community that offers low-cost public transit to work. Carpooling, trip sharing and car sharing communities boost the idea of affordable housing. Coldwell Banker also said 46 percent of the survey respondents reported that first-time home buyers look at five to 10 homes, on average, before making a purchase. The message is simple here. Spend more time looking at more homes for sale. Instead of five to 10, make it 10 to 20. Take the time to find affordability. Discounts were more likely available from homes that had been on the market for 90 days or more; homes for sale that were owned by long-time owners; homes for sale from flipping investors down on their luck; and properties owned by we-want-to-sell-real-estate banks who now know what it means to be careful what you wish for. While nearly half of the Coldwell Banker brokers surveyed said affordability was the No. 1 concern for first time buyers, 81 percent of those buyers also consider move-in conditions to be very important when searching for homes. Only 7 percent are considering fixer-upper homes. However, buyers can enjoy the best of both worlds if they purchase a cheaper home away from job centers, but in a transit oriented development (TOD) or other distant community that offers low-cost public transit to work. Carpooling, trip sharing and car sharing communities boost the idea of affordable housing. Coldwell Banker also said 46 percent of the survey respondents reported that first-time home buyers look at five to 10 homes, on average, before making a purchase. The message is simple here. Spend more time looking at more homes for sale. Instead of five to 10, make it 10 to 20. Take the time to find affordability. Discounts were more likely available from homes that had been on the market for 90 days or more; homes for sale that were owned by long-time owners; homes for sale from flipping investors down on their luck; and properties owned by we-want-to-sell-real-estate banks who now know what it means to be careful what you wish for. The real estate company suggests more buyers should examine the fixer-upper option — among others — to get the affordability they seek. “In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate, LLC. “It is important for first-time homebuyers to remember that by considering a fixer-upper for their first home purchase, they can build equity over time and later move up and into their second-stage home that better reflects their expectations,” he added. Buyers looking for affordability who go with the fixer-upper option should get the home professionally inspected to determine what fixing up is necessary, and certainly not bite off more than they can chew. Even homes that need a basic face lift — paint, carpeting, landscaping, window treatments and other cosmetic touches — can come with big savings. Homes that may require professional upgrades cost even less, but the buyer has to weigh the discounted price against the cost of the improvement. Coldwell’s study also found some disconnect between affordability desires and what buyers want in home size and its location. The vast majority of first-time buyers, 71 percent, were looking for larger homes than they were 10 years ago, brokers reported, but bigger isn’t better when it comes to price. A smaller single-family home or a condo or townhome can be cheaper by virtue of the smaller footprint and square footage. The smaller cost on a smaller home also could come with affordability Forty-one percent of brokers also said, for their buyers, proximity to their workplace was numero uno when it came to considerations made when looking for a home. Higher gasoline prices have made the job center location factor even more crucial, however, in most metros, a home’s proximity to employment centers comes with an added cost. Homes nearer job centers cost more because of the added value of reduced transportation costs and time (which is money) spent commuting. Copyright © byRealty Times To meet with Santa Realty, the #1 realtor in Connecticut, pick up the phone and call Rick or Kristina today!

Buyers have the advantage in this shifting market By Rick Hazeltine Buyers are finally being able to take advantage of cooling trends in previously hot markets. Multiple offers are no longer being thrown at sellers as soon as the For Sale sign hits the front yard. Competition has dwindled in many areas as investors disappear and buyers take to the sidelines. Unless a buyer thinks his local market is headed for a big downturn, this could be the pause that allows him to get into the market with a few perks unheard of in recent years as a bonus. So how do you know what shape your market is in? Economists believe that real estate is closely tied to employment, so if you’re in an area of growing employment, don’t expect to see double-digit depreciation anytime soon. In areas such as the Midwest, where auto manufacturing is king, prices have fallen sharply and will likely continue until the industry rebounds. Here are 10 things buyers need to know to negotiate the best deal in a market shifting to their favor: 1. Human nature is the biggest problem for sellers and buyers to overcome in a changing market. Prices stagnate or drop a few percentage points and it’s amazing how different buyers and sellers react. Sellers still think their house is “special” and immune to the market. Buyers figure every seller is about to be foreclosed on and make ridiculous low-ball offers. Smart buyers do their homework, know what size home they need, how much they can afford and then search the market for what they want and negotiate fairly. 2. When you make an offer, know the recent comparable sales; it’s the best bargaining tool. “See what’s going on out there,’’ says Beverly Durham of ReMax Gold Coast Realty in Camarillo, Calif., where entry-level single-family homes begin at $500,000. “Make an offer $10,000 to $15,000 under what the last one sold. Even in this market, if you insult your seller, they won’t want to deal with you. Sellers know what the last one sold for. You want them to at least look at your offer.” 3. Find out as much as you can about the seller’s motivation — retirement, job, divorce, wants to move up but only if he gets the right price. Durham says if a buyer knows the seller’s motivation they can negotiate a better deal or move on to the next property. 4. Multiple Listing Service (MLS) properties usually state what the seller owes. If not, your agent should be able to track down the figures. There’s a big difference in negotiating with an owner who owes more than the house is worth and one who has a lot of built-up equity. 5. “After 45 to 60 days the seller is usually absolutely sick of keeping their house spotless and sick of people walking through,’’ said Durham. This is when a seller may be the most anxious about selling their house as traffic to their house has likely fallen sharply. 6. Unless you’re incredibly handy and have time and cash, go after houses that are as updated as you can afford. This is easier to do in a stagnant or falling market and fixers aren’t usually discounted enough to be worthwhile. 7. In a tighter market, it’s not too much to ask the seller to add the closing costs to the price of the house. It’s better to put 20 percent down and add the closing costs to the loan than put 15 percent down and pay the costs upfront. 8. Items to ask for that shouldn’t offend sellers are paying for new kitchen appliances or washer and dryer. Most sellers will be willing to do so to close the deal. Durham also says it’s OK to ask sellers to pay up to the first year of homeowner association dues. 9. Don’t request anything that requires quality workmanship. “Don’t ask them to paint,’’ Durham said. “They won’t do it the way you want. They’ll do a lousy job.’’ Also, don’t get carried away and ask for the entire store. Be reasonable. 10. Make sure to look at the big picture. In changing markets you should be planning to stay for at least five years, so don’t get caught up in a $2,000 price difference. Remember, the goal is to get the house you want to live in for some time, not to impress friends with how you worked the previous owner. Copyright © by Move, Inc. Get the Realtor.com Real Estate Search App for iPhone and for Android.