According To Sellers, Silence Isnt Always Golden?
October 31, 2007
When trying to sell a home, silence isn’t always golden especially when you’re expecting your real estate agent to call. In fact, it’s one of the leading complaints among sellers in the real estate market. Often times you find an agent who is more than willing to take on your listing, but once the relationship is made, the seller enjoys getting a call at least once a week.
A seller should establish with the agent up front the expectation that regular communication will occur. Even if it’s just to check-in, the seller will be more satisfied being kept ‘in the loop’.
Keeping the communication lines open between the two parties assures the seller that the agent is keeping them apprised of any and all offers. In addition, agents often provide valuable tips on why prospective buyers weren’t interested. Often times, an agent is privy to the buyer’s dislikes of the property. For instance ‘this room’s too dark’ or ‘the kitchen has a funny smell.’ This allows the agent to give the seller constructive feedback and offer important tips on how to make the home more attractive to future buyers.
A Few Easy Ways To Take The Headache Out Of Moving
October 30, 2007
Moving from one house to another is always a challenge, but it doesn’t have to be a nightmare. Here are some simple tips on how to get it done with minimal stress and strain.
Hassle-Free Homebuying
October 29, 2007
Perhaps you’d like to take advantage of today’s great buyer’s market in housing but feel a little intimidated by everything that’s involved.
You know the routine: finding the right locale and the right house; negotiating an agreement; putting together a down payment; and selecting the best mortgage available.
There are two things you can do to make every step run smoothly. The first is to select a really professional agent who knows the real estate business, knows your local market, has both a solid reputation for integrity and a solid record of success, and clearly is eager to respond to your needs.
The second is to make you agent your teammate in the literal sense of the word, using teamwork to be sure that the house you ultimately buy is the house you’ve always wanted.
Making your agent your teammate requires choosing an agent you feel able to trust both as a person and as a professional. And that’s no small matter. In real estate as in all areas of business ? as in all aspects of life, actually ? trust can make all the difference in the world.
Timing Is Everything When It Comes To Buying Homes
October 28, 2007
The old adage that "timing is everything" especially applies to buying a new home. And trying to be at the right house at the right time and get it for the right price can be tricky. Here are some guidelines to assist you:
Understanding Real Estate Terminology
October 27, 2007
Purchasing a home can be a complicated and confusing process, especially for first-time buyers. Throughout the process, first-time home buyers will encounter a variety of unfamiliar real state terms. There are several key terms associates with purchasing real estate that are helpful to learn.
For example, many buyers confuse the terms broker and salesperson. A broker is a properly licensed individual, or corporation, who serves as a special agent in the purchase and sale of real estate, a salesperson is an individual employed or associated by written agreement by the broker as an independent contractor. The salesperson facilitates the purchase or sale of real estate.
Once you decide to purchase, a salesperson will prepare a sales contract to present to the seller along with your earnest money deposit. The sales contract is the document through which the seller agrees to give possession and title of property to the buyer upon full payment of the purchase price and performance of agreed-upon conditions. The earnest money is a buyer’s partial payment, as a show of good faith, to make the contract binding. Often, the earnest money is held in an escrow account. Escrow is the process by which money is held by a disinterested party until the terms of the escrow instructions are fulfilled.
Vacation Homes Are Becoming A Reality For More Homeowners
October 27, 2007
Whether it’s a lakefront cottage or a log cabin in the woods, a vacation home often seems to be a dream that only the wealthy can afford. But these days, you don’t have to be a millionaire to own one.
A nationwide survey shows the median household income of second-home owners is $46,500. With today’s continued low interest rates, the tax advantages a second home can bring, and a wide selection of areas experiencing solid home price appreciation, this is an excellent time to consider purchasing a second home as an investment ? and a great getaway place.
When searching for your second home, remember to investigate the area thoroughly. Ask a RealtorŪ and the local chamber of commerce to provide information packets, maps and brochures. Take time to visit the area several times ? a few months prior to and during its peak season(s). Are the crowds unbearable? Is the weather unpredictable?
Speak with a local Realtor regarding current and past home prices. Knowing the area’s sales history will help determine the market value of the homes and effectively predict their appreciation potential.
Attention To Details Helps Homeowners Sell Fast In A Buyers Market
October 26, 2007
Your boss has just given you the career opportunity of a lifetime, but the job is in another state.
Soon you discover that moving your family to another city may be one of life’s hardest tasks. The thought of leaving behind old friends and schools for a strange town can be frightening. The biggest challenge of all, however, it to preserve the equity in your housing investment so you will be able to purchase a similar home in the new location.
Not to worry. Even in these uncertain times homeowners can sell at very satisfactory prices in a reasonable period of time. The secret? Pay attention to details, utilize marketing savvy and price the home to sell quickly.
The following tips can help you get that "sold" sign up fast.
SELECT A SAVVY REAL ESTATE AGENT?one with a successful track record in your neighborhood, backed by resources that extend into outside housing markets. Make sure the agent prepares an effective listing of your property ?on that outlines all the features that make your home unique. Also, it’s smart to prepare a separate fact sheet that can be distributed freely to all interested buyers. In soft time, offering the agent a bonus if the house sells within 60 days can work to the homeowner’s advantage.
What?s Your Style? A Guide to America?s Most Common Home Styles
October 25, 2007
Styles of houses vary across the country. From the New England Cape Cod to the Victorians of San Francisco, the choices are almost endless. Knowing which style you prefer is one of the basic elements in your hunt for the perfect home.
Following is a quick guide to help you recognize and use the professional terms for many of the most prevalent house styles:
Working With Your Real Estate Attorney
October 24, 2007
Purchasing or selling a home will probably be one of your largest and most important financial transactions. Before signing a contract to purchase or sell a home, both buyer and seller should consult an attorney to assure that the real estate transaction will be handled legally and professionally.
Although an attorney is not a required part of the process, particularly in many states where escrow companies will attend to all closing transaction details, an attorney can protect your interests and help you resolve any potential legal problems before entering a legally binding contract.
Sometimes buyers feel the need to sign a contract quickly and don’t have time to initially consult an attorney. In these cases, buyers can include language in the contract that will allow their attorney time to give final approval on the agreement ? usually within three to five business days. This allows both buyers and sellers to expedite the contract process without fear of inadequate legal representation.
Sellers and buyers alike should familiarize themselves with the real estate transaction process before selecting an attorney. Learning the formal steps in the transaction will help buyers and sellers choose the right attorney and proceed with confidence. Throughout the process, attorneys should attend to a variety of responsibilities, including consultation prior to the signing of the contract, preparing or approving the contract, examining documents and supervising the closing of the transaction.
Avoiding A Bad Investment Is Easier Than You Might Think
October 23, 2007
Human nature being what it is, none of us can get serious about the idea of buying a house without experiencing at least a few small twinges of worry. What we fear, of course, is making a mistake. And the mistake we tend to fear most is buying a "lemon" ? a house that doesn’t simply fail to satisfy our hopes but turns out to have so many flaws that it’s a disastrously bad investment.
The good news is that the danger of getting stuck with a lemon of a house is one of the most easily avoided dangers in the whole universe of personal finance. Prospective homebuyers are protected in many ways, and they can further strengthen their defenses by taking a few simple, commonsensical precautionary steps.
The first of your protections is the fact that in many places sellers are required by law to make problems known to potential buyers ? and are liable under the law if they fail to make adequate disclosure.
