Real Estate and Psychological Impact

Real estate can be a funny animal sometimes. Take for instance, the subject of Psychological Impact. That  is considered a non-material fact as it relates to  real estate transactions. A few examples of a psychologically impacted home  could be a home which is the site of a homicide or a suicide, or some type of felony took place there, and it could also mean that  the owner or occupant suffered from an infectious disease. Supernatural occurrences also fit into this category.

There is a  Psychological Impact Law in Connecticut that has been in place since 1990, and in laymans terms,  it pretty much states that if a buyer or lessor has a concern over a property's psychological impact, he must submit a request a writing to the seller, and the seller must return that answer in writing.

It is NOT a seller's duty, nor an agent's duty to disclose  any psychological impacts unless the request is made in writing, so if any of these instances trouble you, seek legal advice from your attorney, and discuss your concerns with your agent.

What exactly is Feng Shui, and how do you use it?

Feng Shui (pronounced Fung Shway)  is the Chinese art of placement. The term literally means wind and water.  The subject of feng shui came to mind because I was just reading an article on Oscar Nominee homes on aol.com  and saw a picture of Sandra Bullock's old "love nest".  It's a fun article- Here's the link But the moment I saw the picture of her bedroom, I immediately said to myself,"Bad Feng Shui". There were overhead beams on the ceiling effectively cutting the bed (and relationship) in half. That's a feng shui no-no.

Everyone has their own opinion- some think its superstitious, some swear by its principles, and some could care less. It's a personal preference, and if you want to have some  fun with it, I've included some information about colors and feng shui. It can be quite complex,  and there are numerous websites on the internet with various interpretations. I have three books on the subject and they all have a slightly different spin, so it's not exactly cut and dry. There are a few Feng Shui Masters in the Fairfield County area,  so if you wanted an assessment of your home, its location,  and what you could do to rectify any feng shui faux pas, there are experts in the area available.

One of the very basic principles? Declutter! That sounds familiar, doesn't it? Whether you are selling your home now or not, a clean home just feels more vibrant and healthy, and its good for your spiritual well being. By the way, de-cluttering includes closet space, drawers, cabinets,  and basements.  That's good Chi.  Colors have meanings, too:

Black-  power, sophistication, elegance,and mysterious
White-  cleanliness, clarity, innocence, spirituality, purity, creativity
Red - powerful, stimulating, passionate, exciting; passion and romance
Orange-stimulating, active, cheerful
Yellow- happy, stimulating, warm,
Green- relaxing, tranquil,  healing, calming
Blue -calming, clarity, soothing, trustworthy, renewal, and nobility
Purple- regal,  nobility, abundance, and dignity.
Pink- sedating calming, ove and romance.
Grey- calm, quiet, boring, conservative and draining
Brown-  reliable, stable, comfortable

Wherever your thoughts are on Feng Shui, remember that a buyer or seller may very well have a completely different take on it, so while I wouldn't suggest you  go hog wild maximizing the chi  in your home for a buyer, take note of some of the principles of placement- there's  a lot of common sense to it.



HomeSeller Tip #1: Pricing your Home for Sale in CT

First and foremost. I cannot stress how important it is to price your home correctly. Do you remember when you went out looking for  homes and your agent showed you homes that were obviously overpriced?  You felt that the seller wasted your time. And you probably weren't that happy about it either.  It's one thing to not care for a home that's not your style, or just doesn't have what you need, but you don't want your home to be labeled as overpriced. Oh, and BTW,
it's not your fault. Don't EVER blame an overpriced listing on a seller. It's NOT THEIR FAULT.

5 REASONS for an overpriced listing

1. The agent representing that seller didn't conduct a thorough enough market analysis and advised his/her client incorrectly.

2. The agent representing the seller did not have the courage to tell the seller that his price was too high.

3. The agent representing the seller overestimated the price to ensure that he/she got the listing,  and  figured that once he/she procured the listing, the seller would reduce the price.

4. The agent representing the seller  never advised him/her how detrimental it is to  a home sale to put excess negotiating room in the price.

5. The agent representing the seller used the "PFA" Pricing method and prayed for the 3P's.  Never heard of the PFA Pricing method?  It stands for "Pluck From Air", and the three P's? That's Put the listing on the MLS- Put a sign in the front yard, and Pray for a buyer.

That last one may have sounded a bit silly, but I am sure that you have encountered one of those type of listings in your home search if you think about it. If you want to price your home correctly, call me. I'll give you a FREE Comparable Market Analysis,  with no obligation.  And yes, you can rely on my price, and rest assured it your home won't ever be labeled as overpriced.






The best way to find a real estate listing site that is current. HINT: (it's not Realtor.com)

In the last week, three different people have contacted me to  see a particular property that they found online, and in each instance, I've had to tell them that the property was under deposit, and no longer available. It just doesn't sound right, does it?

Yes, the market is coming back,  but to get three calls in one week on listings that are unavailable is just awful. It's awful for  the people who think they are looking at a current real listing site- and trust me, its no fun to tell a potential client that the house that they want to see is under deposit.

And the biggest offender? Realtor.com.. Really!  This site can be up to 30 days out of date. YES, that's right. At least in Fairfield County, that's right. Realtor.com does not recognize one of the deposit statuses in our area. That's unfortunate. Homes.com does not have all of the listings, and then some of them are OLD OLD OLD. Trulia and  Zillow are incomplete AND out of date.

So what do you do?  Work with ONE agent, who will allow you access to the MLS. I offer both MLSPulse and Listingbook to my clients or potential clients FREE of charge, and FREE of spam.  If you care to sign up for either one, it's free and easy, just click on the respective links below

Listingbook at www.BestAgentinCT.com   and MLSPulse at www.searchMLSdatabase.com

What's the best way to negotiate the purchase price of a home?

Negotiating is a fine art, and you have to consider the personalities involved besides the property. Some people want to negotiate as quickly as possible, and others have to mull things over before they give an answer. Know which type of personality you are dealing with.

One wrong move in negotiations can lose the deal, so be very careful. Emotions run high, and tempers can flare over otherwise minor things. That's why it's always best to work with an agent (LIKE ME!)  and not go it alone.  I devoted an entire chapter of my book,  "The Art of Buying or Selling a Home"  to negotiating. And yes, this book is available at Amazon, Barnes and Noble and all major book retailers, but you can also purchase it through my site, (I know, shameless plug) . The single best piece of advice I could give you is to do your best to put yourself in the other person shoes when you are negotiating