Valuing a home: the Comparative Market Analysis

Having just completed the required coursework for the Pricing Strategy Advisor certification, this seems like a good time to describe one of the most vital services we provide our seller clients - determining the value of their property. A CMA (Comparative Market Analysis) is an estimate of the likely selling price of a property at a given point in time. We provide them to every prospective seller client as well as to any former client looking for an update on the value of their home.

Real estate during a pandemic

Like so many people in so many different industries, Realtors have had to scramble to figure out how to serve our clients and customers during an unprecedented time. While real estate has been deemed essential (after a short period of time being completely shut down), this designation comes with strict limitations. Appraisals and inspections are all still occurring, banks are processing mortgage applications, attorneys are scheduling closings. While business isn’t exactly as usual for those providers, real estate agents are the ones who have had to adjust our practices the most. Realtors are people focused; we spend our days meeting with prospective listing clients, showing buyers possible homes, attending brokers opens and spending our Sundays hosting open houses. We are always around other people.

Home selling process, part two

You have done all the hard work getting your house listed and we have put together our top notch marketing designed to get the attention of all the home buyers out there, what happens next? The next steps are divided into two distinct periods of time - when your home is on the market and when it is under contract. Let’s take a look at what happens during each stage.

Home selling process, part one

In the last two blog posts, we discussed purchasing a home and now we turn our attention to the home sale process. We are in the midst of the Covid-19 pandemic, and while it’s a time filled with uncertainty, we are preparing for the day when the current “pause” on activity is safely lifted and people can move forward with their plans to sell their homes.

As Realtors, one of our jobs is it help home owners navigate the process of selling their property. Sometimes we are approached by prospective clients thinking about selling their home in two years, sometimes they reach out two weeks before they plan to list. Regardless of the time frame, the process is roughly the same.

The home-buying process, part two

Congratulations! You found a house you want to buy and the owner accepted your offer!

Some real estate agents consider their job done once a buyer has a signed contract on a home. But at McSharry and Associates, we realize that this is where the expertise of a seasoned professional becomes critical. We see our role as project managers, ensuring that all of the professionals involved in the process are working in unison to help our clients fulfill their goals. We stay in contact with the seller’s agent, the home inspector, the attorneys, and the lender so that the process moves forward smoothly. Whether it’s an unexpected structural issue or a delay in mortgage approval or a hassle with the moving company, it’s virtually impossible to not encounter some issue along the way. And we are always available to help problem solve or advocate on your behalf.

The home-buying process, part one

Whether it is your first or your fifth purchase, buying a home is a complicated process and we think of it as being two stages: first, finding the right home and second, getting from contract to closing. McSharry and Associates works closely with buyers throughout the entire process, guiding you through every step.

​Renovating with universal design principles in mind

According to AARP, 85% of older adults who want to age in place, have done nothing to prepare their homes. That’s a slightly terrifying statistic as most homes were not built with universal design features in mind. Universal design is “the design of products and environments to be usable by all people, to the greatest extent possible, without the need for adaption or specialized design.” (The National Association of Home Builders) Some of the common elements in universally designed homes are no-step entry, one-story living, wider doorways and halls, enough floor space for wheelchairs to navigate. It’s also important to have non-slip surfaces, handrails and railings, good lighting, lever door handles and rocker light switches, easy access cabinets, raised outlets.

Living on your own for longer

I recently attended an Aging in Place seminar where I learned about several different options older adults are employing to stay independent in the community for as long as possible. By the time older clients contact us, they have decided their current home is no longer right for them. Maybe they are downsizing because with the children out of the house they don’t need all that space, perhaps they are tired of maintaining their home, maybe they have health limitations that make their current home inaccessible, maybe they feel isolated and alone. Whatever the reason, we don’t typically hear from people until they have decided to move so it was interesting to learn about services and organizations out there that help older adults stay in their home, and their community, for longer.

Relocating to the Capital Region?

Sometimes we are contacted by people looking to relocate to the Capital Region. Having lived and worked here our entire adult lives, we can only imagine how daunting it must be to decide if both a job and a location are a good fit for your life. While we can’t help determine if the job is right, we do help people decide if this is somewhere they can imagine themselves living.

Renovation loans

I recently attended a seminar, hosted by a local bank, to learn more about renovation loans. I had some familiarity with 203K loans (more on those later) and knew that buyers could roll in the cost of renovations into their mortgage. However, I mistakenly thought these sorts of loans were only for big projects, houses in need of major rehabbing. The long and short of it is that you can get a renovation loan for anything from a kitchen remodel to a whole house rehab to a pool and everything in between.