By Betsy Green
Managing Broker
Lincoln Park Homes
Real estate is the biggest single investment that most people will make. Seek information from experts in the industry in order to reap the benefits of their experience. Thanks to the Internet, many resources are available to help guide consumers.
Before you purchase a home, consider its resale value. Be aware of "what's hot" and "what's not." What's Hot: quality construction; natural stone finishes; concrete counter tops; solid wood cabinet/doors; exotic floors-bamboo, walnut, cork; large, open living spaces; dramatic lighting; and master bathrooms. What's Not: incomplete rehabs; white or beige ceramic tile; under-insulated walls; small rooms, confined hallways; laminated anything; closed off, small kitchens; short cuts, dysfunctional rooms; and homes with only one bathroom.
Licensed real estate agents are accountable for honesty to all parties of a real estate transaction and for revealing known facts pertaining to property being considered for purchase. Real estate agents and brokers must adhere to a strict code of ethics mandated by the National Association of Realtors (NAR). Before taking the state license examination, all applicants must answer questions about whether they have been convicted of felonies, have had a dishonorable discharge from the military, or are in arrears for state taxes or child support payments. NAR is a professional association with the authority to deny the license application or require explanation for any questions answered. Mortgage lenders and real estate professionals are also regulated by the Office of Banks and Real Estate (OBRE).
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