Home Inspections--To Do or Not to Do?

Many times buyers ask us whether we recommend a home inspection or not, especially when the home appears to be in great condition. Sometimes the buyer feels they will save money by not performing an inspection. Our reponse is always the same: ALWAYS, ALWAYS, ALWAYS complete a home inspection during the period of time that your real estate contract allows. You never know what an inspector my find that is not evident to your eyes.

What is an inspection?

An inspection is visual in nature and is a review of the various components of a homes structural and mechanical systems. The inspector will look to find any items that may not be performing properly or may pose as a safety or environmental issue. It is important for a buyer to know what is wrong with the home so that they can consider whether or not repairs need to be made prior to closing and who will be responsible for the repairs.

Should the inspection turn up an environmental or structural issue, in most cases, the seller would be responsible for addressing the issue either by having it fixed or by providing a credit to the buyer.

The more minor issues sometimes become a negotiation between the buyer and seller to come to an agreement on who will be responsible for each.

The inspector will provide a detailed report on his findings including a summary of possible issues and advise you to seek a specialist certified in that area.

What will be inspected?

Here is a checklist of what they should inspect:

* heating & air conditioning systems

* plumbing system

* electrical system

* walls, ceilings, floors

* roof, gutters, leaders

* insulation if exposed

* attic
* basement & foundation

* windows, doors

* exterior finishes (siding, brick, etc.)

The following items may also be inspected by your home inspector, or he may recommend a specialist in the area:

* mold

* radon

* water/well test

* wood destroying insects

In the those homes that have a septic system, a separate septic company should be hired to inspect the tank, leech fields and piping (see our earlier blog regarding septic inspections dated 9/27/10).

Should you be in the market to buy a home and need a good home inspector, feel free to call Leanne @917-596-2772 or Anna @732-371-3233 for recommendations.

As always, call us with all your real estate needs, as well.

COLTS NECK COLONIAL HOMES FOR SALE!

COLTS NECK, NJ COLONIAL HOUSE FOR SALE!

First time on the market, we are pleased to announce our latest Colts Neck listing. This charming Colts Neck Colonial home for sale was originally built in 1897 but has been updated to incorporate some of todays modern style. This Centerhall Colonial features 3 bedrooms, 2 full baths and eat in kitchen. Hardwood floors in Foyer, Living Room & Dining Room. Spacious elegant Dining Room has old world charm and crown moldings. Master suite extension was added in 2002 and features cathedral ceilings, walk in closet, sitting area and master bath. 1 car detached garage with added room for storage. Many recent updates include windows, roof, siding, heating & air conditioning. Situated on a private 1.1 acre lot which is completely level. A great opportunity to live in Colts Neck for under $500,000. A must see, you will not be disappointed!

Reduced to $399,000. Please call Anna @ 732 371 3233 or Leanne @ 917 596 2772 to preview this charming home.

Visit our website to view additional listings at www.leannelucarelli.com

HOLMDEL HOMES FOR SALE!

HOLMDEL HOUSES FOR SALE!

We are pleased to announce our newest listing located in Holmdel--2 Canyon Run Road!
Tucked away in the Estates of Holmdel is this lovely Centerhall Colonial on 1.19 acres on a private cul de sac block. This charming 4 bedroom home has an additional room for an office downstairs & a walkout finished basement. Tastefully decorated Living Room & Dining Room with hardwood flooring & custom window treatmts.

Spacious eat in kitchen features stainless appliances, granite counters, double wall oven, subzero refrig/freezer and sliders to multitiered deck. Large Family Room off kitchen with fireplace and granite top bar with winecooler. Master Suite with cathedral ceiling, dressing area and new posh bath with jacuzzi, double built in custom vanity, stone oversized shower.

Exterior of home has been completely refaced with stucco and cultured stone. Beautiful sandstone lighted walkways leading upto your double door entry.

Wonderful yard for entertaining with multi tiered deck, pergola with tv, fireplace, inground heated natural looking gunite pool.

Awesome Holmdel Schools. Great location close to shopping and commuting options. Requesting $839,000.

Call Leanne @917 596 2772 or Anna @732 371 3233 to preview this lovely home.

Visit us at our website for additional listings at www.defalcorealty.com

U.S. HOME SALES CONTINUE TO DECLINE

HOME PRICES CONTINUE TO SINK

Pursuant to a WSJ Article titled “HOME PRICES SINK FURTHER” dated Monday, January 31, 2011, declines in home prices in 28 major metropolitan areas have been reported as inventory levels continue to ramp up. The WSJ’s latest quarterly survey on the housing market found there has been a reduction in prices in the metropolitan areas that they track during the 4th quarter of 2010 when compared year over year with 2009.

The size of the decline year over year was greater than the previous quarter’s in most of the same markets. In the meantime, inventory levels are rising in many of the markets due to the backlog of unsold homes and the foreclosures yet to hit the marketplace.

The housing market continues to struggle with obstacles such as tough credit conditions in the mortgage arena and weak demand which can be partially attributed to unemployment rates and confidence levels.

Sellers and buyers continue to be at a stalemate as sellers’ view the offers as being “low balled” and buyers continue to hold out as they feel prices will continue to soften.

Again, it is all about pricing! If a home is priced aggressively for its location and condition, it will sell and it will normally sell quickly! If you are considering selling your home, be sure to have your Realtor do a Comparative Market Analysis for you to see what your price point should be in order to ensure quick activity.

Call Leanne @917 596 2772 or Anna 732 371 3233 for your complimentary Comparative Market Analysis today.

Excerpts from Wall Street Journal Article "Home Prices Sink Further" dated January 31, 2011

Sales Statistics for Monmouth County Year over Year

The following stats have been provided by Realist in the Monmouth County MLS system through the 1/3/2011.

Single Family Residences/ No. of Sales/ Median Sale Price:

Nov 2010/ 363 units/ $345,000

Nov 2009/ 576 units/ $341,000

Oct 2010/ 457 units/ $370,000

Oct 2009/ 528 units/ $365,000

2010 YTD/ 5324 units/ $370,000

2009/ 5577 units/ $358,000

For a list of available homes in your area, or a complimentary Comparataive Market Analysis to see what the value of your home is, please call Anna @732 371-3233 or Leanne @917-596-2772.