How to Respond to a Lowball Offer

After all the hard work it takes to ready a home for sale, it can be so discouraging to find the first offer you get is a lowball offer. Regardless of the market, there are buyers who write offers 10%, 20%, even 30% below list price. While most of these offers are just “throw-aways,” it’s still possible to turn it into a successful sale. 

Before you do anything, take a deep breath and stay calm. There are many reasons why a buyer throws out a low offer. It could be they are getting bad advice from a family member or nervous first-time buyers afraid of leaving money on the table. It’s also possible that they are working with a new or poor real estate agent. The one thing you know is that they were interested enough in your home to write an offer, and they expect to negotiate. 

The next step is to send a counteroffer. Be respectful and thank them for the offer. If you do have room to negotiate, then offer to reduce your price to a reasonable level. If you have priced the home well to start with, then explain how you arrived at the list price and present any available comps. 

Remember to look at the other terms offered and be flexible where you can. For example, they may have asked for a longer escrow period, and you can accommodate their timetable. You may also want to ask that the home inspection is “information only” that removes the option of repairs. 

A lowball offer may take the wind out of your sails, but it doesn’t mean that there is no opportunity for moving forward. Working with your agent, send a reasonable counter offer back to the buyer and you may find that there is still a successful sale down the road.

Small Design Changes that Have Big Impact

With the change of seasons, attention turns from the backyard to our indoor spaces. With the cooler months ahead and more time spent indoors, who wouldn’t love a quick living space refresh? Fortunately, you don’t need to completely revamp everything to have a new look. Small changes can have a big impact as well.

Paint is one of the easiest ways to change the look of any space. Paint fads quickly and designers recommend repainting every 5-7 years. This is an opportunity to use new colors. Dark and warm to create a cozy, relaxing space or go bright and bold to add energy or inspiration. If a larger project is too daunting, then adding a single accent wall provides drama and interest.

Look at updating lighting and other fixtures. It’s surprising how quickly a lamp can change the tone of a room. Don’t be afraid of mixing traditional furniture styles with modern fixtures. Use lighting in a new way. Highlight a special picture or piece of art. Light a dark corner or use variable light bulbs to provide flexibility in intensity.

Another great tip is to hit the local farmer’s markets and fairs. Style does not need to come from the chain stores or design magazines. Add some eclectic pillows, candles, baskets, or anything else that interests you. Personal style is just that – personal. With fall on the horizon, spruce up your living spaces with a few small changes.

7 Tips to Creating an Amazing Gallery Wall

A gallery wall is a quick and easy way to add visual impact to any room.  Adding art and photography to a wall showcases your personality, interests, and style. Merging art with interesting articles, a gallery wall instantly adds depth to a living room or other space. Set against a strong color, the impact is even greater, and the time commitment is minimal, making it a great weekend or evening project.

7 Tips to Creating a Visual Delight

1. Plan and Visualize – One great tip is to use paper cut outs to plan the wall before committing and make sure you have the right tools, such as nails, hangers, Command® strips, leveler, screws, hammer, etc.

2. Choose a Theme or Concept – Create a cohesive, intentional look by working with a concept. This can be the style of art, color palette, or

subject matter.

3. Mix and Match – Combine various sizes and mediums for visual interest. Mix paintings with three-dimensional objects like mirrors, plates, or masks. Pay attention to balance so the result is eclectic and not cluttered.

4. Watch the Framing – Frames and matting adds texture and boundary. Affordable options are available in standard sizes and colors in home improvement stores.

5. Play with Layout – Don’t worry about lining up every frame in a grid. Space frames and objects so that they stand out and are displayed to their best advantage.

6. Find a Focal Point – Starting in the middle of the wall, highlight a special piece and work out from there.

7. Add Lighting – Proper lighting is important. Use to highlight a special picture or use track lighting for a subtle glow.

A gallery wall is a great expression of your personality and can be changed quickly. You probably already have the art necessary to make this change today. Don’t overthink the plan and create your visual delight this weekend

Buyer’s “Love Letters” – Should You Read Them When Selling Your Home?

Selling a home can be an emotional experience. As the seller, you want to make sure that the buyer loves the home as much as you do and will take care of it. In other words, you’re looking for the perfect buyer with the perfect offer. Home buyers understand this, and in the recent seller’s market, some buyers have written heartfelt letters to the sellers about how much they love the home, hoping it will tip the scales in their direction. But as a seller, making decisions based on these “love letters” could cause problems, leaving us with the question, “should you read them?” 

Buyer love letters can provide valuable information to the seller. With properties receiving multiple offers, it can be difficult to choose the best one. By reading these love letters, you get a sense of the buyer and their connection to the home. A well written letter can ease the concern that a buyer will change their mind and can occasionally overcome a slightly lower offer. 

However, simply reading the letter can introduce bias into the decision-making process and cause serious issues. The Fair Housing Act prohibits discrimination based on factors such as race, religion, or family status. If a love letter reveals personal information that falls into any of these categories, just knowing the information may open up the seller to potential issues. 

It’s natural to want your home to go to a “nice family” who will love the property as much as you do. It’s just as natural to want to ensure the new owner will fit into the neighborhood. Yet, it’s just this goal that might also cause headaches. So, if you do choose to read the letters, focus on the practical and financial aspects of the story and make the best choice for you and your goals.

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About Team Tringali | Keller Williams Metropolitan

Team Tringali is a dynamic and forward-thinking real estate company operating in NH & MA. 

With a strong focus on leveraging today’s technology, we offer exceptional services in the real estate industry. Our expertise and commitment to client satisfaction have earned us a highly-recommended reputation as preferred real estate professionals to work with.

Our team is composed of proficiently skilled professionals who thrive in a collaborative environment. We foster a culture of continuous learning and personal growth, providing ample opportunities for our employees and agents to enhance their skills and stay at the forefront of the ever-evolving real estate industry.

As an employer, we prioritize the well-being and success of our team members. We believe that a motivated and fulfilled workforce is key to achieving excellence. To support this, we offer various benefits of being part of Team Tringali, ensuring our team members’ overall well-being.

Diversity and inclusivity are integral to our company values. We believe that a diverse workforce brings fresh perspectives and fosters innovation and problem-solving. We are dedicated to creating an inclusive workplace where everyone feels welcomed, respected, and empowered to contribute their best.

At Team Tringali, our team is also a cohesive group of like-minded professionals who share a common passion for achieving career goals. We are driven by a collective desire for growth, learning, and success in the field of real estate. Together, we support and inspire each other to reach new heights, sharing a unified vision of excellence and dedication to delivering outstanding results for our clients. With a shared commitment to personal and professional development, our team members collaborate seamlessly, leveraging their diverse skills and expertise to drive innovation and exceed expectations.

Collaboration and teamwork are at the heart of our company culture. We foster a supportive environment that encourages open communication, idea-sharing, and cross-functional collaboration. By leveraging the strengths and talents of our team members, we drive innovation and deliver exceptional solutions to our clients.

At Team Tringali, you will have the opportunity to work on exciting real estate projects, collaborate with talented professionals, and make a meaningful impact. Our stimulating and challenging work environment encourages creativity, critical thinking, and professional growth.

If you are passionate about real estate, enjoy working in a collaborative team, and strive for excellence, we invite you to join Team Tringali. Explore our website at www.teamtringali.com/careers to discover current opportunities and learn more about our vibrant company culture. Join our team and let’s embark on a fulfilling and exciting journey together.

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Join Us

Celebrating 100 Google Reviews - Join Us in Reaching 150!

At Team Tringali, we are overjoyed to share a significant milestone with our valued clients and supporters. We have reached a remarkable achievement of 100 Google Reviews! Each review represents a satisfied client who has experienced our dedication to exceptional service and successful real estate transactions. We want to express our deepest gratitude to everyone who has taken the time to leave their kind words. Today, we invite you to be a part of our journey as we set our sights on reaching 150 reviews. Your continued support means the world to us.

Celebrating Success:

Hitting the 100-review mark is a testament to the hard work and commitment of our entire team. We take pride in providing personalized and comprehensive real estate solutions tailored to meet our clients' unique needs. The positive feedback we have received so far has reinforced our passion for delivering exceptional service and going above and beyond to exceed expectations.

Why Your Reviews Matter:

Your reviews not only help us showcase our expertise and credibility but also assist potential clients in making informed decisions when choosing a real estate partner. By sharing your experiences and insights, you contribute to creating a trustworthy and reliable resource for individuals seeking real estate services. Your honest feedback helps us continuously improve and refine our approach, ensuring that we deliver the best possible results to our clients.

Help Us Reach Our Next Milestone:

We are excited to set a new goal of reaching 150 Google Reviews. With your help, we believe this milestone is within reach. If you have had a positive experience working with Team Tringali, we kindly ask you to take a few moments to share your thoughts on our Google Reviews page (link: [Insert clickable link to the Google Reviews page]). Your feedback can make a significant impact and contribute to our ongoing success.

How to Leave a Review:

Leaving a review is quick and easy. Simply visit our Google Reviews page and click on the "Write a Review" button. We encourage you to be specific about the aspects that impressed you the most during your journey with us. Whether it was our market knowledge, personalized approach, attention to detail, or exceptional communication, highlighting these elements will help others understand the unique value we bring to the table.   → https://g.page/r/CQxSpnOEFeb5EAI/review

Conclusion:

Reaching 100 Google Reviews is an accomplishment we are immensely proud of, and it would not have been possible without the trust and support of our valued clients. As we embark on our mission to reach 150 reviews, we humbly request your participation in sharing your positive experiences with Team Tringali. Your reviews will not only help us grow but also assist future clients in making informed decisions.

Thank you for being a part of our success story. We look forward to continuing to provide exceptional service and delivering outstanding results for each and every client we have the pleasure of working with.

Together, let's write the next chapter of success!

Team Tringali

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How to Get Started Investing in Real Estate

 A question we hear often is how to get started investing in real estate. This article will help you understand the easiest way to start investing and how you can go from being ready to actually ‘doing’.

FHA Loans

The most common (and easiest) way to get started investing is with an owner-occupied FHA (Financial House Administration) loan. With an FHA loan, you can buy a multifamily with up to 4 units but are required to live in one unit. You can rent out the other units which typically pay for your mortgage, plus some, plus you get to live there rent-free while the property grows in value over time. FHA loans are also some of the easiest to qualify for and require the least amount to put down (only 3.5% down payment). They require you to have a 580+ credit score and you can use 75% of the appraised rental income from the property as additional income to qualify for the loan!

Here’s an example: Say you’re preapproved to buy a single-family home for up to $215,000. With the additional income of a 3 or 4 unit multifamily, you can now buy a property up to $400,000 – $550,000! (Actual numbers may be different and we recommend speaking with a loan officer for your exact scenario. You can find our go-to loan officer, here.)

With FHA’s 3.5% down payment you only need to bring a $15,750 down payment to purchase a $450,000 property, before any other closing fees.

Let’s run the numbers on a $450,000 multifamily with 4 units. Let’s assume all 4 units can be rented for $1,500 a month. You’re living in one (without having to pay any rent) and the other three are bringing in $4,500 a month or $54,000 a year in rent. FHA loans have some of the lowest interest rates so for this example, we will use 2.5% a year for a 30-year loan. Your monthly payment, before taxes, insurance, or PMI is $1,778! And you are bringing in $4,500 a month on top of living there for free and the value of the property growing over time.

This is only an example and we can help you work out the real numbers of a property and find out what your real scenario would look like!

Not Looking to Owner Occupy?

So maybe you aren’t looking to owner occupy your multifamily but you are still ready to invest. The down payment will be higher than an FHA loan but it’s still well worth it. A conventional loan typically requires 25% down to purchase an investment property. So if we took that same scenario of $450,000 you would need a $112,500 down payment. (Purchase Price x .25 = Down Payment) But your mortgage payments will be much lower because you won’t be required to pay Personal Mortgage Insurance (required on any loan under 20%) and your loan won’t be as large because of your down payment. With a 2.75% interest rate, your loan payment is now only $1,378.

How To Find The Right Property

Finding the right investment property takes a lot into consideration. What is your budget? What is the minimum return you’d like to see? Which area are you interested in? How much work would you like to put into it? (If any). And once you find the right property it’s important to find out if the tenants are actively paying, if any units are vacant, and to understand the condition of the property.

Team Tringali can help with that. We are trained professionals who do this every day and we know what to look for, the right questions to ask, and can guide you in the right direction to get you into the right property for you. A majority of the team personally invests in real estate and knows first-hand the importance of doing the right deal.

Ready to take the next steps? Let’s get you preapproved! 

Click here to have one of our agents reach out to you about what you’re looking for.

Or you can contact us at: 

sales@teamtringali.com

(603) 437-6899

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