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        <title>Seaport Advisory</title>
        <link>https://www.seaportre.com/blog/2022-12/</link>
        <description>Data-driven real estate insights, valuation, and strategy across Southeastern CT and Southern RI. Research-backed guidance for buyers, sellers, and investors.</description>
<item>
    <guid>https://www.seaportre.com/blog/choosing-a-great-agent-from-a-guy-that-has-seen-some-things.html</guid>
    <link>https://www.seaportre.com/blog/choosing-a-great-agent-from-a-guy-that-has-seen-some-things.html</link>
        <title>Choosing a Great Agent from a Guy that has Seen Some Things</title>
    <description> <![CDATA[ 



Sixty hours of class time and a test. That’s the barrier to entry to get your real estate license. The license to help navigate people through the biggest financial decisions of their life. During the class the information presented is valuable, however, it is also equivalent to an elementary understanding of the subject matter. From there, students go to brokerages around the area and “interview the broker” to see if their brokerage is a fit for them. 


All that plays out in my mind in this scenario is the interview scene in the movie “Step Brothers” (Is it Pam or Pan?). In most other professions you go in with a degree, complete an internship, or get some on-the-job experience. Not real estate, we start with no experience, no actual value to add, and in most places, you’ll be answering the phones. Waiting for someone to call or walk in that needs an agent. Or worse a new agent may be getting internet leads directed to them by their brokerage from people that think they’re calling the listing agent on websites like Realtor.com, and Zillow. What type of service are you getting at this point? 


When I got my start in real estate it was because I was looking to go in a different direction in life. The risk I was taking in my prior career was now not worth the reward. Truth is I was getting older and with three kids and a wife, chasing bad guys did not seem as appealing. The catch with this career is that after 20 years your time is up and you can collect a pension. Well, there I was at 39 looking for what I wanted to do when I grew up. The education I received during my career in law enforcement was invaluable and most of the time I didn’t realize I was getting it. It was the experience of it all. I have had the opportunity of working with the pinnacle of law enforcement professionals from Maryland to Maine. Sitting and watching some of the most prolific people to ever do it. I was able to interview and interrogate murderers, drug traffickers, and people that found themselves in rough spots. It was in those times that you don’t realize you were sharpening your negotiation and communication skills and cutting through deception like a razor blade. I may actually only hold a bachelor's degree in sociology, but from my time in the profession, I feel like I can analyze people and situations similar to those with an advanced degree.


One of the primary reasons I chose real estate is because of my experience with buying my first home in my early 20s. I was totally ignorant of the home-buying process. The home happened to be a little outside of my comfort zone with price but my mortgage guy in 2007 said not to worry I ended up with a loan product that would be laughable today and ended up with a home that needed LOTS of renovations. My real estate agent happened to also be the listing agent, the broker of the company, and the owner of the property. I remember sitting in his office and signing the purchase and sale agreement very happy to be a homeowner soon. Well, I think you can figure out how that story ended. It still bothers me to this day and I think about it during every transaction when representing clients.


A fiduciary duty is a legal obligation wherein one party is legally required to act in the best interests of another. The obligated party is known as the fiduciary and is entrusted with the care of the other party's finances, property, or other valuables.


Without a true fiduciary on your shoulder, you may be putting yourself in some serious peril. Let’s say, the seller is offering great seller financing terms, and it will save you tons of money. Well after some due diligence done by a true real estate advisor acting on your behalf, you find out it’s because there are three illegal apartments. This means there’s no way to finance the deal through a bank, and the town zoning official drives by the place on a daily basis waiting to pounce.


Or perhaps it’s a deal where the listing agent is suggesting the buyer waive the inspections and quickly close and the seller will knock 10k off of the list price. After a little detective work, we find out from a local septic company that the leeching fields are completely destroyed and a complete septic replacement is needed with a 20k-30k price tag.


Both examples and similar events happen more often than you’d think. When selecting your real estate advisor, I would suggest a strategy of letting the person explain to you their experience and background. Who are they and how can this person help you through the buying or selling process? Is this person financially stable or are they living on a shoestring budget? It’s terrifying to think that in this shifting market people are relying on real estate agents for guidance who are unable to pay their bills and need the commission from your deal to eat. Starving will make almost anyone sway from their ethical standards. 


I don’t think what happened to me during my first home-buying experience was a result of my agent swaying from his ethical standards. I don’t think I was intentionally thrown under the bus. I was actually able to have a very good conversation with the broker that sold me my first home a few months ago. He explained at the time everything seemed to be going very well. Prices skyrocketed and the market was going crazy. He further explained not many people saw that the end was coming, but they should have (Watch the movie “The Big Short”, it depicts this time to a tee). I talked to him a little bit more and he explained he lost everything during that time as well and explained in times like these you want to protect yourself. I thought about that last part for a while….. “protect myself.” Like a fiduciary should have perhaps.


I do think he should have been aware of the circumstances of the time and should have had an inclination toward the economic forecast ahead. If you’re thinking of buying, selling, or investing you should interview your real estate professional, and ensure they are in fact a professional. Here are some things I would look for if I was looking for someone to represent me at this point:


Experience in building or renovating properties. Does this person know the difference between a baseboard and a base hit? When viewing houses your agent should be able to see and point out to you the deficiencies it has, as well as their attributes. If you’re working with someone that is walking with you and pointing out only the positive points of the property you may want to ask if they see any problems. Even the most luxurious homes have drawbacks and you should at least know about them prior to writing an offer. Your advisor should have the ability to look at things with a critical eye for your benefit. 


Negotiation skills are paramount in this profession. When selecting a real estate advisor keep them on their toes. Ask some hard questions that are outside of the box and see how they react. Negotiate with them about their commission, but remember it's not all about percentages. If they can’t explain to you their value there’s no way they can explain to other agents the value of your home.


Education I don’t think every agent needs to have a master's degree, but they should be well-read in subjects like finance, and market cycles, and have some life experiences they can draw from. Have they been through real estate cycles or at least understand them? Do they have investment or commercial experience, or did they get their real estate license because Selling Sunset was trending on Netflix during COVID?


In short, these are my humble opinion on choosing a great agent from a guy that has seen some things over the years. Please reach out if I can help you get where you want to be in the future.
 ]]> </description>
    <pubDate>Fri, 30 Dec 2022 10:00:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/five-things-to-do-before-investing-in-commercial-real-estate.html</guid>
    <link>https://www.seaportre.com/blog/five-things-to-do-before-investing-in-commercial-real-estate.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Five Things to do Before Investing in Commercial Real Estate</title>
    <description> <![CDATA[ 



Investing in anything requires determination and careful planning. Real estate is no exception. While investing in real estate is an amazing financial opportunity (consistent returns, passive income, and growth potential), it's important to understand that increased reward requires increased responsibility. As always, we strongly encourage you to reach out to a commercial-certified expert (reach out to us for more info), but here are some tips we think you should do before deciding to invest or purchase commercial real estate. 


Determine Goals and Needs


Before jumping into any decision, it's important to know why you're doing it. Are you looking for an investment property? Do you need business space? Are you interested in developing? Determining your goals and needs will help determine what kind of property you're looking for. Determine a strategy for buying commercial real estate. Here are some different types:


1.  Land Banking: This is when you buy larger parcels of land that will likely be developed in the future. The land will appreciate in value as development continues. 


2.  Development: Buying land creates all different types of opportunities. Make sure to research the market to make the best use of the parcel.  


3.  Fix &amp; flip: Much like residential fix-and-flip, this is when you buy commercial real estate, make repairs, install upgrades, and resell it at a higher cost.


4.  Wholesaling: Wholesaling commercial real estate is where you find a good deal on a property, put it under contract, then sell the contract to another investor or owner-occupant.


5.  Owner-Occupied: This strategy is when you buy commercial real estate and plan to run your own business within it.


6.  BRRRR: Similar to residential real estate, this is when you buy, rehab, rent, refinance, and repeat.


7.  Passive investing: This is when you buy commercial real estate strictly for passive income. This usually occurs when you don’t have time to run and operate deals yourself.


Know the market area and supply and demand


Similar to buying a residential home, you want to make sure you are investing in a profitable and healthy area. Some properties perform better or worse depending on the area so make sure you do your research. This is a common issue with investors that can be easily avoided. 


At Seaport, we perform our own market reports with every listing. We use data from CoStar, as well as our own tools, to help determine if an area is not only profitable but also affordable for the buyer. 


Secure financing


Start your search on the right foot by making sure you know how much you can afford and secure the financing.


There are numerous different financing options to choose from such as a commercial real estate loans to hard money lending.


Each of these options will come with unique loan terms and interest rates, so weigh your options carefully. 


Be prepared for setbacks and extended timelines


Commercial real estate is NOT like traditional real estate. The typical commercial deal can take months to finalize, and that's if everything goes smoothly. Most people severely underestimate the time it takes for a deal to go through. Major setbacks could include waiting on documentation, waiting to hear back from the right people (attorney wait times can seem like forever), construction timelines, financing from the other parties, natural disasters, etc. Make sure you are personally and financially able to accommodate those setbacks.


Work with professionals


Make sure you align yourself with agents who know the ins and outs of commercial real estate.


True fiduciaries can help you determine if a property will be a good investment, help determine where a good market is, and help make sure all due diligence is done.


Make sure to give us a call when investing in real estate. 


 




Contact Us


 ]]> </description>
    <pubDate>Wed, 28 Dec 2022 09:25:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/why-so-many-real-estate-agents-fail.html</guid>
    <link>https://www.seaportre.com/blog/why-so-many-real-estate-agents-fail.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Why so many real estate agents fail.</title>
    <description> <![CDATA[ 



There are several reasons why many realtors fail in their careers. Some of the common reasons include a lack of experience, inadequate training, and an inability to adapt to changing market conditions.


One of the main reasons why many realtors fail is a lack of experience. Real estate can be a complex and competitive industry, and inexperienced realtors may struggle to navigate the challenges and pitfalls of the business. In order to succeed, realtors need to have a thorough understanding of the local real estate market, as well as the legal and regulatory frameworks that govern the industry.


Another reason why many realtors fail is inadequate training. In order to become a successful realtor, individuals need to have a strong foundation in real estate principles, as well as the skills and knowledge necessary to represent buyers and sellers effectively. Without proper training, realtors may not have the necessary tools and resources to succeed in the industry.


Lastly, the real estate market is constantly changing, and realtors who are unable to adapt to these changes may struggle to stay afloat. In order to succeed, realtors need to be able to adapt to new technologies, trends, and market conditions and be willing to learn and improve their skills continuously.


Overall, the real estate industry can be challenging, and many realtors fail due to a lack of experience, inadequate training, and an inability to adapt to changing market conditions. To succeed in this field, realtors need to be dedicated, hardworking and constantly looking for ways to improve their skills and knowledge.
 ]]> </description>
    <pubDate>Tue, 13 Dec 2022 05:15:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/advantages-and-disadvantages-of-residential-real-estate.html</guid>
    <link>https://www.seaportre.com/blog/advantages-and-disadvantages-of-residential-real-estate.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Advantages and disadvantages of residential real estate.</title>
    <description> <![CDATA[ 



Residential real estate refers to the purchase, ownership, and use of a home or apartment for personal living purposes. This type of real estate can provide several financial advantages and some potential disadvantages.


One of the main advantages of investing in residential real estate is the potential for long-term capital appreciation. Over time, the value of a well-maintained property can increase, providing a solid return on investment. Additionally, residential properties can generate income through rental payments, allowing investors to earn passive income.


Another advantage of residential real estate is the potential for tax benefits. Mortgage interest and property taxes are often tax-deductible, which can help reduce the overall cost of ownership. Sometimes, homeowners may also be eligible for tax credits or other incentives.


However, there are also some potential disadvantages to consider when investing in residential real estate. One of the main drawbacks is the high upfront cost of purchase, which can be a significant barrier to entry for many potential investors. Additionally, owning a home or apartment also comes with ongoing expenses, such as maintenance, insurance, and utilities, which can add up over time.


Another disadvantage of residential real estate is the potential for market fluctuations. The value of a property can go up or down based on various factors, such as economic conditions, local real estate market trends, and natural disasters. This can make it difficult to predict the return on investment, and there is always the risk of losing money if the property does not appreciate in value.


In conclusion, residential real estate can provide financial advantages, such as long-term capital appreciation and potential tax benefits. However, it also comes with some potential disadvantages, such as high upfront costs and ongoing expenses, as well as the risk of market fluctuations. As with any investment, it is important to carefully consider the potential risks and rewards before making a decision.
 ]]> </description>
    <pubDate>Tue, 13 Dec 2022 05:07:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/the-importance-of-flood-insurance.html</guid>
    <link>https://www.seaportre.com/blog/the-importance-of-flood-insurance.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>The importance of Flood Insurance</title>
    <description> <![CDATA[ 





















Flood insurance is an important type of insurance for anyone living in an area that is at risk of flooding. Flooding is one of the most common and costly natural disasters, and it can cause significant damage to homes and other structures. Standard homeowners insurance policies do not typically cover flood damage, so it's important for property owners to have separate flood insurance coverage.


Having flood insurance can protect your home and belongings from the financial impact of flooding. If your home is damaged by a flood, your flood insurance policy can provide financial assistance to help you repair or rebuild your home. It can also help to replace any personal belongings that were damaged or destroyed in the flood.


In addition to protecting your property, flood insurance can also provide peace of mind. Knowing that you are financially protected in the event of a flood can give you the confidence to stay in your home, even if it is in a high-risk area. This can help to reduce the stress and uncertainty that comes with living in a flood-prone area.


Finally, having flood insurance can also be important for financial reasons. If you live in an area that is at risk of flooding, your mortgage lender may require you to have flood insurance as a condition of your loan. Additionally, if you live in a high-risk area and do not have flood insurance, you may be unable to get a mortgage at all.


In conclusion, flood insurance is an important type of insurance for anyone living in a flood-prone area. It can protect your home and belongings from the financial impact of flooding, provide peace of mind, and even be required by your mortgage lender.


















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    <pubDate>Mon, 12 Dec 2022 08:45:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/1031-exchange-what-are-they-and-how-can-they-be-of-benefit.html</guid>
    <link>https://www.seaportre.com/blog/1031-exchange-what-are-they-and-how-can-they-be-of-benefit.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>1031 Exchange. What are they and how can they be of benefit</title>
    <description> <![CDATA[ 





















A 1031 exchange, also known as a like-kind exchange or a Starker exchange, is a tax strategy that allows investors to defer paying capital gains taxes on the sale of a property. This is done by reinvesting the proceeds from the sale into a similar property.


To qualify for a 1031 exchange, the property being sold and the property being purchased must be considered &quot;like-kind,&quot; according to the IRS. This generally means that the properties must be used for the same purpose, such as for investment or business purposes. The properties do not need to be identical, but they must be of a similar type or nature.


There are several benefits to using a 1031 exchange. The most significant benefit is the ability to defer paying capital gains taxes on the sale of a property. This can save investors a significant amount of money, as capital gains taxes can be quite high. Additionally, a 1031 exchange can allow investors to upgrade to a better property, potentially increasing their income and improving their overall investment portfolio.


To complete a 1031 exchange, investors must work with a qualified intermediary. The intermediary is responsible for holding the exchange proceeds during the transaction and ensuring that they are used in accordance with the rules of a 1031 exchange. The intermediary can also provide guidance and advice throughout the process.


It's important to note that there are strict deadlines and guidelines that must be followed in a 1031 exchange. For example, the investor must identify the new property within 45 days of the sale of the old property, and the purchase of the new property must be completed within 180 days of the sale. Failure to follow these guidelines can result in the loss of the tax deferral and the need to pay capital gains taxes on the sale.


In conclusion, a 1031 exchange can be a valuable tax strategy for investors looking to defer capital gains taxes on the sale of a property. By working with a qualified intermediary and following the guidelines set by the IRS, investors can take advantage of this strategy and potentially save a significant amount of money.


















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    <pubDate>Mon, 12 Dec 2022 08:33:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/what-is-title-insurance-and-should-i-buy-it.html</guid>
    <link>https://www.seaportre.com/blog/what-is-title-insurance-and-should-i-buy-it.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>What is title insurance and should I buy it?</title>
    <description> <![CDATA[ 



What is title insurance?


Traditional insurance policies protect insureds against future losses. For example, a car insurance policy will protect the driver from future accidents, and a health insurance policy will protect an insured from future health problems. However, title insurance is different because it protects insureds against claims for past occurrences.


Who does title insurance protect?


Two different types of title insurance exist. A real estate owner can choose to purchase title insurance, and lenders can elect to do so. Lenders will require title insurance by mortgagors to secure their security interest in the property. Furthermore, a property owner will purchase title insurance to protect their investment in their property.


What type of protection does title insurance provide?


Title insurance will require an extensive title search of the property. This search will minimize the potential liability to the property owners by discovering any foreseeable title issues. However, once a property owner purchases and takes possession of a property, title insurance will defend against any litigation that challenges the validity and legality of the new property owner. This proved to be extremely important in Southeastern CT with tribal land disputes.


How much does title insurance cost?


Unlike traditional insurance companies, where monthly payments are required, title insurance only requires a one-time payment. This insurance will vary according to the price of your home and according to the state in that, you will purchase a home. On average, a title insurance policy for a homeowner costs $834, and for the lender, it will cost $544.


Is this expense really necessary?


The reality is that title insurance has protected a large number of insureds, but it hasn’t proportionality paid out that many claims. An estimated 4-5 of title insureds have been paid on their policy. However, these problems protected by the claims were unlikely to be detected by an ordinary purchaser. Only title insurance would protect the homeowner purchasers.


Common types of title insurance claims include:


1.       Errors in the public record


2.      Undiscovered Liens


3.      Omitted Heirs


4.      Fraud


What specific claims does title insurance cover?


These claims include certain errors in inputting information into the public record. A title examiner will assess the title by analyzing the chain of ownership of the house. They will ensure that the property is passed either by sale, through a will, or maybe even in a gift to the correct and intended person. Additionally, a title check will ensure there are no current legal claims against the house, including encumbrances such as liens, mortgages, or any existence that makes the title unable to be transferred. 


The short end is that a title policy protects that small group with a problem. Title insurance is a valuable protection for home purchasers since this group has no way of detecting the problem before it arises. To be safe, it is worth spending the average cost of $834 for title insurance.

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    <pubDate>Sun, 04 Dec 2022 10:45:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/how-to-increase-your-chances-of-getting-an-offer-accepted.html</guid>
    <link>https://www.seaportre.com/blog/how-to-increase-your-chances-of-getting-an-offer-accepted.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>How to increase your chances of getting an offer accepted</title>
    <description> <![CDATA[ 



Communicating with your client.


Your client needs to be made aware that offers are getting bid up. They should not look at properties at the top of their price range. Search for homes 20 less.


-         Make sure that all the fields are filled in and logical.


-         Cash offers carry more weight.


-         Place yourself in the shoes of the listing agent and seller.


Communication with the listing agent.


Use the phone and have conversations with the listing agent backed by texts, a bomb-bomb video, and then email. Get the agent extremely comfortable with you.


Ask the agent if there is anything important to the seller. I.e., closing date, leaving furniture, etc.


Ask the agent if there is a board form with which they are most comfortable if you are operating outside of your membership board. Ask the agent to send you that form.



Communication with the Seller if agreed upon by the listing agent. 


Suggest that it may be in your client’s best interest to craft a letter to the seller and mail it directly to them. You may need to send it to the tax address as opposed to the address of the property being sold.



Emailing the offer to the Listing Agent.


Attached is my buyer's offer for “Property Address”.  Below are the bullet points of the offer:




         Please see Page 4, Line 21 (Additional Provisions)


         Escalation Addendum - Buyer will pay $2,000 over any competing offer not to exceed $310,000 with proof of offer. 


         Ryan Hartman Anchor Home Inspection ( I've already secured 900am on 6/6 for this inspection).


         For inspections, buyers agree to waive section 14a in the purchase and sales agreement but will reserve the right to section 14b. Buyers           will not ask sellers for any repairs.


         Buyers can be flexible with the closing date to work best with the seller’s needs.


         Please note that the appraisal has been waived.





Feel free to call the buyer's lender with any questions. Robert Ruth at US Bank, Cell 401-789-4441.  The buyer has given full access &amp; permission.



Please confirm receipt of this offer, and let me know if you or your sellers have any other questions. We thank you for your consideration.



Communicate with the agent after your offer is submitted. (If the highest and best is called for)


Ask the agent if there is anything that you can do to strengthen the offer. Send a bomb-bomb video, make a phone call, and text. Make sure that you stand out against all of the other agents. Most agents will simply send an email and not follow up. 


As clients, we will explore more creative ways to help you get your offer accepted. The list above represents practices common to the industry.
 ]]> </description>
    <pubDate>Sun, 04 Dec 2022 10:20:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/preparing-for-a-home-inspection.html</guid>
    <link>https://www.seaportre.com/blog/preparing-for-a-home-inspection.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Preparing for a home inspection</title>
    <description> <![CDATA[ 
How to prepare for your home inspection





So, you’ve listed your home, found a buyer, and accepted a purchase price. The sale of your house is almost a done deal, but it’s not quite time to pack the moving boxes yet – you still have to make it through the home inspection.


In a typical real estate transaction, the home inspection occurs after the buyer has signed a purchase agreement and before the final closing date. Most home buyers choose to make the closing contingent on the results of the home inspection, meaning that they can back out of the sale if the inspector finds something that is not to their liking and the seller is unwilling to repair it or lower the purchase price to account for it. As a seller, you will want the home inspection to go as smoothly as possible, with little to no major issues detected.


But first: What does a home inspector do? During the inspection, properties are examined top to bottom, with emphasis placed on evaluating the roof, walls, foundation, plumbing system, electrical system, and HVAC system. Inspectors will also check for the operational ability of installed systems, such as garbage disposals and carbon monoxide detectors, and leaks, mold, mildew, and other signs of water damage.


As a seller, it’s common to get nervous during the home inspection process. You don’t want the deal to fall through, nor do you want to be stuck with the cost and burden of repairs if your buyer requests them as a contingency. Fortunately, there are some things you can do to prepare for the inspection.


    1.    Provide open access to areas that need to be checked


Make sure that the home inspector has easy access throughout the property. If they can’t get to an area, they can’t inspect it, which will be a red flag for buyers. Clear away any clutter impeding access to areas or systems that the inspector needs to look at, including basements, attics, furnace rooms, and under sinks.


    2.    Clear the perimeter


In addition to checking the interior functioning of your home, the inspector is also going to be looking at the exterior, including siding, trims, and caulking around windows and doors. You’ll want to leave areas around your home clear of plant growth, trash cans, and stored items so they can get an unimpeded look.


    3.    Check the roof


When was the last time you looked at the roof of your house? For most sellers, it’s been a while. The roof is a key part of the home inspection though, so you can’t ignore it in your preparations. Get out a ladder and clean moss and debris from the gutters, check for damaged or missing tiles and make sure downspouts are in their proper position. If you do find damage on the roof, you’ll want to get it taken care of before the home inspection.


    4.    Keep a clean house


If you’ve already been going through the process of selling your house, you’re probably already adept at this point at keeping everything clean and tidy. Resist the urge to let things build up after an accepted offer and maintain the same level of cleanliness for the home inspector. How clean your home is doesn’t play into the inspection itself, but a dirty or messy house may make the inspector suspicious that other areas of the property aren’t properly taken care of either. 


    5.    Replace any bulbs that are out


A blown bulb suggests two things to a home inspector: either the bulb itself is out, or there’s something faulty in the fixture’s wiring. The inspector will either have to waste time determining whether a fixture is inoperable, or they’ll simply note that there’s a possible defect without looking further into it. Avoid both scenarios by making sure that all of your bulbs are in working order.


     6.    Make sure your toilets are functioning properly.


Does your toilet run for a long time after you flush? It’s a common problem that gets easy to ignore when you’re living with it every day, but it’s not something you want your home inspector to come upon. Fixing a running toilet is an easy and inexpensive repair you can take care of on your own with a simple trip to the hardware store, so take care of the problem before the inspection.


      7.     Put in a fresh furnace return filter.


Regularly replacing the furnace filter in your home is important for air quality and the overall functioning of your heating system. Instead of making the inspector concerned that you haven’t been taking good care of your home’s heating and air, clean or replace the existing filter and show that it’s something you do pay attention to.


      8.    Turn all pilot lights on


The pilot light in your water heater is probably always on (and you would have noticed already if it wasn’t), but what about the pilot light in your gas fireplace? Many homeowners turn their fireplace off in warmer months, so it’s important to double-check that the pilot light – and the fireplace itself – is working before the inspection. If you’ve turned off your fireplace’s pilot light, now is the time to get it going again.


       9.    Ensure the fuse box is properly labeled


A confusing fuse box is frustrating for homeowners and home inspectors alike. Double-check that each switch in the box is labeled clearly and correctly, and replace any labels that are incorrect or difficult to read.


       10.     Check your doors


Take a walk-through of your house and check each door to ensure it’s in working condition. Interior and exterior doors should be latching into the frame with no problem, doorknobs should be securely in place, and any locks, particularly on doors that lead outside, need to be functioning properly as well. Sometimes cold or heat can warp normally functional doors and lead to problems, so be sure to check all doors, including those you don’t use very often.


       11.     Repair faulty cabinets


It’s easy for the hinges on cabinets to get a bit loose, which results in doors that don’t close correctly or that aren’t flush with the frame. If you have a cabinet that’s looking off, you can usually fix it pretty simply just by tightening the hinge with a screwdriver.              


       12.    Look for leaks and water damage.


The home inspector is going to be looking for signs of leaks or water damage, so it’s better you beat them to it and get any water-related issues repaired prior to the inspection. When looking for leaks, be sure to check under sinks, around faucets, around the base of your toilets and bathtubs and/or showers, and under any appliances that may leak, such as dishwashers and refrigerators. In terms of water damage, examine walls, ceilings, and floors, looking for signs of warping, sagging, or buckling. Don’t forget to check the exterior of your house for signs of leaks or water damage as well. If you see water pooling near the base of your house, that should be a cause for concern.


      13.   Take care of any bug problems.


Most of us must occasionally deal with an errant ant or spider in the home, especially in warmer temperatures. But if you’ve got a wasp nest in the backyard or regularly see lines of ants in your kitchen or other interior areas, you’ll want to take care of these problems before the inspection. Most bug problems aren’t a huge deal, but they can turn off buyers


      14.     Be prepared on the day of the inspection.


By the day of the home inspection, you should have done everything you can to prepare. Now, it’s just about ensuring it goes as smoothly as possible. To do that, keep all utilities on, double-check that you’ve left clear access to areas and systems all around the house, and unlock any gates, electrical boxes, or other areas that you normally keep secure. Most of all, be ready at least two hours before the inspector is set to arrive (they’re known for being early) and prepare yourself and your family to vacate the house during the inspection. It’s best to take any pets with you, but if you can’t, ensure they’re safely crated or otherwise secured.


At this point, take a deep breath. Most buyers aren’t expecting complete perfection; they want to know that no heavy burdens are waiting for them. It’s common for the home inspector to note a few minor issues, but most of the time, if there’s something serious to detect, you’ve already figured it out on your own.

 ]]> </description>
    <pubDate>Sun, 04 Dec 2022 09:47:00 -0500</pubDate>
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<item>
    <guid>https://www.seaportre.com/blog/new-london-county-multi-family-market-rentbedroom.html</guid>
    <link>https://www.seaportre.com/blog/new-london-county-multi-family-market-rentbedroom.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>New London County Multi Family Market Rent/Bedroom</title>
    <description> <![CDATA[ 



The vacancy rate in the New London Submarket has remained stable over the past year, but at 2.6, is somewhat below the long-term average. While developers have been active in recent years, nothing has been delivered over the past 12 months. But construction has started back up, and about 340 units are underway, which will substantially expand the existing inventory. Rents have increased by an impressive 7.9 over the past year, which significantly exceeds the average annual growth of 4.0 over the past decade. Investors have been active in the New London Submarket over the past three years. The market price, which is an estimated price of all properties in the submarket, has risen dramatically over that time period and now stands at $152,994/unit.
 ]]> </description>
    <pubDate>Sat, 03 Dec 2022 13:55:00 -0500</pubDate>
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