As real estate agents, it’s our duty to disclose any and all features of a home that may affect its value in the eyes of the buyer. This naturally includes telling buyers about material flaws like water damage or deteriorating roof shingles, but full disclosure can also include non-material elements like violent or illegal acts that have taken place on the property. While a home’s sordid past may not affect it structurally, its perceived value could be reduced due to the stigma it’s acquired.

Laws vary state by state regarding what types of incorporeal blemishes must be disclosed to the buyer.

In states where a death isn’t on the list of mandatory disclosures, the real estate agent is faced with a moral quandary. If he tells the buyer about the event, she may back out of the sale or demand a price reduction. Neither scenario will leave you with a happy seller.

If you decide not to tell the buyer about the death, she could end up suing you for misrepresentation, in addition to dragging your reputation through the mud. Word of mouth carries a great deal of weight in our industry, so it’s important to be honest and responsible with both parties of the transaction.

There’s also your conscience to think about. As agents, while our main priority is our clients, we also owe it to the buyers to be forthcoming about the history of the home, and to provide them with enough facts so they’ll be able to make an informed decision.

A large number of agents make it their rule to not disclose immaterial flaws unless asked directly about them. This can be a risky decision, particularly if the home was formerly used for something illegal like a meth lab. In a case like this, the home may be nearly new and in great condition, but the buyer’s safety could be at risk if for instance, a drug addict comes to the house looking for a hit. Particularly if the buyer has children, the house’s past could have a huge impact on their decision to buy the home.

A death in a home can be a particularly tricky situation for an agent to deal with. Death from old age or from a non-contagious illness seems to have less of a stigma attached to it, but the situation can still spook some buyers. If the death was a suicide or a murder, buyers may have a much more difficult time shaking off their unease.

Many people believe that dark energy can remain in a home after a violent death, and they fear that it may harm them somehow. There’s also the idea that a haunting can occur if a person dies prematurely, and very few buyers want to live with an angry ghost.

If you tell buyers about a grisly event that’s taken place on the property, they may very well back out of the sale. This isn’t good for you or your client, but you’ll be able to sleep well at night, knowing that you were honest. If the buyer decides to buy the home despite the violent event, then they’re doing so with all the facts in hand. You won’t be responsible for any buyer’s remorse, and you won’t be putting yourself at risk for charges of misrepresentation.

Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.

The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.

Women’s earnings have accelerated over the last few years and they have emerged as the Chief Purchasing Officers in their households. According to IRS data, women constitute 39 % of the top wealth holders in the country. This means about 2.5 million women possess a wealth of $4.2 trillion put together. Notably, the IRS estimates that by 2050, 42 % of these women will be single or widowed. The IRS further estimates that more wealth is bound to be accumulated among women.

Another growing trend that emerged in a December 2006 study by the National Association of Realtors (NAR) was that about 22 % of homes purchased between July 2005 and June 2006 were by single women who were in the 25 to 34 age range. Women accounted for a record number of 1.76 million home purchases (1 in every 5 homes), a significant increase from 14 % a decade ago. Women’s growing success in their careers, higher education, financial independence and a desire to build an early nest on their own, are some of the reasons that have spearheaded this home buying trend.

Among the vast demographic spectrum in the real estate industry, women have become a force to reckon with. Real estate agents are increasingly taking note of their female clients and the power they wield in home buying decisions. By the influence that they bring into play in home buying decisions, women form a significant and growing market that simply cannot be ignored.

If you are considering buying a home, condo, or any other real estate, be sure to seek out the services of a local real estate agent to guide you through this complex process.

Considerations for finding and buying land for a new home are mind boggling.  That’s why 80% of the people wanting to build a new home, buy from a developer or builder.  But if you have adventure in your heart, let’s do it.

 

First, think about proximity to the elements of your life that you need to reach (job, family, etc.).  If you’re ending up in an urban area, the land will be more expensive and have more zoning restrictions than a piece in a rural area.

 

Then look into the local zoning to be sure you can build a house without needing to get a variance.  You realtor should have that information.  Once you have your architect in place, he/she will be able to get the other town requirements, which will be reflected on the drawings.  But there are a few other things you might want to check out on your own.

 

The local building department should be able to tell you about any intended development that might have an impact on your desired lot.  Any nearby residential developments in the planning stages; shopping centers; enlarging roads for added traffic?  I would ask the realtor these questions as well, but you’re more likely to get accurate information at the building department.

 

Next, how much land do you want?  Wooded lot or open? Flat or sloping?  Do you want a view?  Maybe watch the sunsets?  Think about the position of the house on the land. 

 

Then check out the location of the closest utility pole. Bringing electricity and telephone lines long distances can become very expensive.

 

Always WALK the lot – at least around the perimeter.  It’s the only way to make sure you don’t have wetlands, excessive grades, or other natural impediments to your intended construction.  These issues will diminish the value of the property.  Don’t overpay.  Comparison shop, like you would for a pair of shoes.

 

Are the people in the local town friendly?  Ask about any history about the area.  Find out what the local taxes are like.  Go around with realtors and see what’s available.  Buy a local newspaper and check comparable prices.  I almost forgot – the internet will probably have some good information you can use.  You might also get some information about what your house will be worth once it’s built.

 

Next, what’s nearby?  Parks, streams, a lake, an ocean, shopping, a library, transportation, a hospital, museums, – anything that might have an impact on your decision to buy.  Transportation usually has a positive impact on the value of any land within walking distance. 

 

If you’re not in a hurry, see the property during various seasons.  It could look very different.  These issues will help you organize your thoughts and prioritize your choices BEFORE buying land.