Factors to Consider Before Buying Land

* Zoning Requirements

Check with local authorities (city, county and state) to determine
zoning ordinances and whether you can build the type of home you want
before committing to buying the land. A community within 20 minutes of
Sacramento city limits, for example, does not permit construction of any
structure on parcels smaller than 20 acres. Ask about future zoning,
whether there are plans to put in shopping centers or airports, or to
change nearby land uses that could also devalue your land.

* Smells and Sounds

Realize that you might be trading exhaust fumes from city buses
for the lovely odors produced by pig farms. Some farm animals such as
geese and donkeys produce squawks and brays that travel for miles.
Horses along country roads drop steaming piles of waste. It's not like
anybody carries along a plastic bag and picks up after their horses.

* Natural Hazards

Obtain a natural hazard disclosure and look for soil problems.
Some parts of El Dorado County near the Sierra, for example, have
naturally occurring asbestos in the rocks and soil. A disclosure will
tell you if the land is a protected habitat, which would prohibit
building. Is the area a known fire hazard? Is the fire department
supported solely by volunteers? Many owners in the country maintain
private ponds for fire emergencies.

* Elevation

If the land is located near hills, how likely is the land to move?
Some slab foundations can crack if the land is unstable. Find out if
your parcel lies within the path of a potential landslide. For
construction near bodies of water, you might want to consider building a
raised foundation and make sure to buy flood insurance. If the land was
once a swamp, ask neighbors about the condition of their foundations.

* Easements

If access to your land is provided by driving across an adjoining
parcel, you should obtain an easement and make sure it is recorded. Find
out who maintains the roads and what your prorata share might cost for
upkeep. What rights do neighbors have to cross your land? Are the
boundaries clearly marked? Obtain title insurance, which will disclose
easements and restrictive covenants or conditions. You might want to
order a survey of the land.

* Utilities

Water is important. Not all water is potable. Sometimes water
rights don't "run with the land," which would mean you could not dig a
well. Find out the depth of your water table and determine the
difficulty of digging. Is the ground mostly rock? It can be costly to
bring electricity, telephone or cable services to the property if they
are not already established nearby. Will you need to install a propane
tank? Consider a generator for back-up during power outages. If you
cannot hook up to a sewer, what will it cost to install a septic system?

* Appraisal

It's common to pay cash for land. If you're not planning to
finance the land purchase through a conventional lender, which will
require a lender appraisal, then obtain your own appraisal to determine
an appropriate price before making an offer. Comparable sales are
sometimes difficult to find when buying land.

The Five Key Things When Selling A Home

There are more than 5 key things that influence the sale of your home and the order is not as important as considering all of them when you are selling and pricing a home.

You have all heard the most important factor in selling a home is location, location, location, but there are four others to consider.

1. Price
2. Home Condition
3. Market Conditions
4. The Realtor

1. LOCATION

The location of a home cannot be changed. The better the location such as a quiet cul-de-sac, backing on to a greenbelt, or a view are more generally considered more desirable. Alternatively, a busy street, nearby power lines, proximity to a commercial or retail business or even too close to a school are often considered less desirable. It is important that you recognize the location and price and market your home accordingly.

2. PRICE

Pricing your home correctly is critical to the sale. The homeowner wants to sell their house for as much money as possible, but if your asking price is too high your house will only help sell other houses in your area. There are at least three negative outcomes you can expect from overpricing a property:

a. The time your home sits on the market will increase, making buyers think you are more likely to accept a lower offer than the home’s fair market value.
b. You will be missing out on buyers who should be looking at your house, but because it is out their price range they will miss it. This often happens when you price outside of a range such as choosing $ 765,000 instead of $ 749,000.
c. You receive low offers or no offers at all. A higher asking price does not always equal a higher sales price.
The more you overprice a property, the more likely you are to eventually sell it at a price lower than it is
worth.

So how should you price a home? Price your house to attract appropriate buyers for your neighborhood and location. The more buyers that come to see your home, the more they will compete for your house, which will drive your sales price up. Competition will result in receiving offers over and above your asking price. Don’t let Realtor buy your listing by agreeing to sell it for more than it’s worth as it will only be a matter of time before they are back suggesting a price reduction.

3. CONDITION
Buyers will pay more for a home that is clean, has great curb appeal and is in good condition. Few people can see past the purple paint and worn carpet and even fewer can get past the clutter. Most people find it hard to visualize what your home will look like as theirs so if you are not taking the necessary steps to stage your home to appeal to the widest number of buyers you will simply have to have more buyers come through until one can see them selves living in your home.

4. The MARKET
The real estate market is always in one of three types of markets.
A. Seller’s market where there is low inventory and more buyers which, in turn, drives selling prices up.
B. Normal stable market where there is an equal number of buyers in proportion to the number of homes for
sale. The result is home prices remain stable.
C. Buyer’s market where there are more homes for sale than buyers who want to buy. This causes home prices
to decline.
Knowing the market conditions will help you price your home effectively and know what to expect.

5. The Realtor You Choose

Depending on where you live there are more Realtors than there are lawyers so sifting through them to find the right one can take time. I think it is fair to say any Realtor you contact will eagerly tell you they are the right Realtor to list your house for sale . But there is more to marketing a home than simply putting it on the MLS and if don’t interview a number of Realtors before choosing one you are definitely limiting the exposure of your home. Here are a few things to consider

• Their experience at marketing houses in your price range and in your area.
• Their presence on the internet through a web site and/or blog.
• Their demonstrated knowledge of home prices in your area.
• Their marketing plan for your home.
• Their track record.
• References.