Answers by Janet Stanek

Felipe, while markets vary depending on the area you are in, overall we are in a bit of a cautious market. There is limited inventory in most areas, and that and the higher interest rates make sellers leary about putting their home on the market and not being able to find their next property. Buyers are also cautious due to interest rates and competitiveness for the properties on the market. It is still wise to stay active in the market to keep abreast of what is going on in your particular geography and this trend can change very quickly.

You will want to check with your town as to when they require you file for a review of your taxes. Look at public tax records of properties similar to yours within a three mile radius as backup of why you believe your taxes should be lower and submit that with the town paperwork.

You are right to be more concerned with the speed of a flip. That in and of itself does not mean the property is not a good one, but yes, be more careful. Of course I recommend and inpsection, but in addition to that note how the floors flow from one room to another - are there dips? Are they at different levels? Look at the windows - are they newer? Well caulked? How is the basement if there is one? Any water or signs of moisture? Same with the attic.

As the others have said - the garage is a great place to store boxes and totes when preparing to sell/move. I would suggest that the neater you do this the better. The reason for that is when buyers are looking at your home they are wondering how well you have maintained it through the years. Giving the impression of being very organized and neat is a great way to make them feel comfortable with how you have taken care of the property.

One thing to consider when taking out a renovation loan is the cost of renovations. In certain instances, when the cost of the reno is significant, a HUD advisor is required to oversee the renovation - which can add to the complexity, cost and timing. Check with your lender on what is permitted in your renovation. Also, for the most part, a renovation loan will require that all work covered by the reno portion of the loan be completed by a licensed contractor - not the homeowner.

I would absolutely recommend you have your locks re-keyed. Re-keying should cost less than replacing locs and this way, you can have all entrances keyed to the same key if you wish.

Of course it depends on the area in which you are looking, but overall, yes, there is an inventory shortage. At the same time, current interest rates are not helping to move properties as quickly as some might expect.

While there are a lot of vacation rentals, different municipalities are starting to change zoning and not allow short term rentals. (Short term is often considred less than 30 days). That helps the rentals in municipalities who do still allow short term get filled up even faster. Some municipalities do have a "grandfather clause" for current owners who rent to vacationers. Check with the town where you want to buy to see what they are planning for vacation rental zoning.

In my experience, the addition of solar panels does not increase the value of the home equal to the cost of the panels. Even the "Free Energy" potential with solar does not move the needle up with respect to price enough to justify it. In my opinion there are other things you can do to your home that would increase value such as Central Air, interior paint, flooring, etc.

It really depends on what type of business. For example, is the business dependent on the location? Or could the business be sold without the buyer also taking possession of the property? While a commercial real estate broker may be your best bet, if the business is "one with" the property, and the property also includes a dwelling, a residential real estate broker may be a better option.

When you say "Manufactured Home" do you mean a mobile/manufactured or a modular home. In most cases, modular homes are treated the same as stick build homes for financing. Modular homes are built in a factory to very stringent standards and are transported to the build site and put onto a foundation. Mobile/manu homes can still at times have the same advantages in financing as a stick build but would need to at a minimum be newer and permanently attached to a foundation.

In addition to mechanicals, roof, foundation, etc. I suggest buyers think of these four things - Parking - is there enough for your social activities? Neighbors - do they keep their properties in a way that you want to be associated with? Kitchen - is it ample in size or easily expanded? Storage - will you have enough storage for down the road? Other elements of the home can often be upgaded over time.

While there may be some local timing restrictions, for the most part you can re-list as soon as you want. I would consider what made you take it off the market originally. Did you just not get the activity you expected? Chat with your agent about how they will market the property in addition to the MLS. And be sure they give you a market analysis of like properties so you can appropriately set the right price for your home.

Have your agent check on what special assessments have occured over the past ten years and also any that are planned. Special assessments are in addition to your HOA fee and can become cost prohibitive if the association is not able to maintain the property within the budget of the HOA fees.

This completely depends on two things in my opinion - do you have the time and desire to do maintenance? or are you willing to pay an HOA fee to have it done for you? The HOA fee can add up quickly, but the maintenance can be time consuming and equally as expensive.