Posts Tagged ‘Home Buyers’

“When most homeowners wish to sell their property, one of the first things they do is to secure a real estate agent. However, when many people who set out to purchase a home often start to do so by themselves, without representation. Many buyers go online to look for great deals, or visit open houses themselves, without applying for a buyer’s agent first. Unfortunately, this approach can cost home buyers a great deal of money and can lead to house buying disasters that take buyers years to recover from — both financially and emotionally.

It is true that buyers are becoming more Internet savvy and more money smart. Many get estimate values of homes from web sites such as Zillow, or spend their time looking at County Assessor websites to find the assessed value of properties, as determined by the local taxing authority. However, this information, while valuable, will often not provide a buyer with the information they need to make a truly smart purchase. Many buyers, for example, do not realize the high rate of errors and mistakes that occur on these web sites.

Many buyers assume that they can save 3% immediately by negotiating the 5% to 7% selling commission that is often built into the list price of a property. However, many buyers quickly realize that developers will often not negotiate much with an unrepresented buyer, even if they had actually planned on paying additional money for a commission. The same is true of many sellers — they are not always willing to negotiate with a buyer who is unrepresented, even if they were planning on negotiating with a buyer’s agent. In many cases, where a homebuyer is using an agent in order to sell the property, that agent may accept a lower commission than was originally agreed upon. In this case, the unrepresented buyer does not get any sort of discount. The seller simply pays less commission to the listing agent, and the price remains the same.

For all these reasons, getting a buyer’s agent is simply a necessity in today’s real estate market. A good buyer’s agent can have access to accurate and detailed information about the market value of the property. A good buyer’s agent will also have the well-developed negotiation skills that can get a buyer an actual discount on a property. This negotiating skill alone is often enough to pay for the price of a buyer’s agent in the first place. A buyer’s agent is also often able to complete extensive research on the MLS. For example, a good buyer’s agent will use this database to compare recently sold properties with the property that a buyer is interested in buying. This can help the agent determine whether the price compares favorably to current market conditions. More importantly, an experienced buyer’s agent is also invaluable in helping a buyer negotiate the entire buying process. From helping to locate a good lender, to helping in the inspection and assessment process, to helping the buyer determine what their needs are, a buyer’s agent can take a buyer from initial desire to buy a home right down to negotiating the contract. Simply put, having a professional, experienced buyer’s agent on your side ensures a good house buying experience.”

Craigslist is an Internet phenomenon that brings millions of people to its local pages to peruse the latest deals. For the enterprising home seller, listing their home on Craigslist may mean that they get more potential buyers looking at the property. It certainly doesn’t hurt, but sellers beware, Craigslist isn’t a miracle working home selling device. Without the aid of a professional agent, your home may just join the rest of the discarded listings.

The problem with sites that claim that you can sell your home through Craigslist “without the help of an agent!” is that they don’t take into consideration the many details that are involved with real estate transactions. It may be easy to find a buyer for your property via Craigslist, but negotiating a home sale is a different situation. Many home buyers are not equipped to deal with the minutiae of a home sale while they’re trying to juggle a job, family and other commitments. Also, an agent has more contacts in the real estate world than the average mortal and can connect a seller with a buyer very quickly using them.

Will Craigslist supplant the MLS? It’s not likely. Craigslist has only a limited search capability – number of beds & baths and specific keyword searches. The keywords aren’t that useful for finding one’s dream home, either. Also, one has to wade through incorrectly classified ads and ads that are purposefully placed in the “real estate” category to get leads for buyers. Craigslist’s search parameters are not to be compared to the MLS’ more comprehensive searches and filters.

Craigslist is, admittedly, wildly popular and many people use it. Should you? As a part of a campaign that involves the MLS and other advertising, Craigslist can be very effective. Good photos, a comprehensive description and a link to the MLS or agent’s page are a must. The Craigslist post should contain words to the effect of “For more information, go to this link…” If there are fancy things like virtual walkthroughs on the agent’s page, those should be mentioned as well.

Craigslist is a great place for selling your old furniture and other belongings, but as the sole medium of advertising a home for sale, it falls short. It’s best used in conjunction with the services of a competent agent as an additional form of advertising instead of the only advertising. Good pictures and clear copy can help people searching for their perfect home narrow it down to yours.

Home stager Carolyn Stieger of Detroit Michigan explains what home buyers are looking at when they see your countertops in this interview with EnergizedSeller.com. For more home selling and staging tips check out EnergizedSeller.com, the site to help home sellers make more money on their home.

Who Needs a Home Inspection Anyway?

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home (house, condo, townhouse) you want to buy is in good condition. A home inspection is an evaluation of a home’s condition by a trained expert. During an independent home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy.

The home inspector will:

* Evaluate the physical condition: the structure, construction and mechanical systems.

* Identify items that should be repaired or replaced.

* Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, usually within 24 hours.

Finding a Qualified Independent Home Inspector

As the homebuyer, it is your responsibility to carefully select a qualified inspector. I stress that it is “your” responsibility, and not your agent’s. After you purchase your new home, your agent will not be responsible for paying the unexpected repair costs that result from non-thorough home inspections. Any unexpected repair costs will be your responsibility.

Understanding the Home Inspector / Realtor Relationship

For your protection, hire an independent home inspector, instead of a home inspector who is recommended by your real estate agent. Here’s why:

Most home inspectors solicit real estate agents for work, hoping that the real estate agent will exclusively recommend his home inspection services to all the real estate agent’s clients. Agents work with many home-buyers throughout the year, and each home-buyer will eventually need a home inspection in order to close the sale. So, it originally made sense for an agent to find one or two home inspectors that he/she could regularly recommend to clients. However, this Agent / Home Inspector relationship carries a conflict of interest.

Here’s why:

(a)Real Estate Agents make commission when their client buys the home.

(b)A client will only buy if s/he finds the home’s condition acceptable (Among other reasons)

(c)So, a negative home inspection can stop a home sale (and the Agent’s commission)

Now, this is not an accusation of any Agents or Home Inspectors. However, in this relationship, the Home Inspector may feel stated or unstated pressure from the Agent. There may be pressure to deliver positive home inspection reports or the agent may pressure the home inspector to produce inspection reports in less time at the expense of performing a more thorough inspection. After all, the Agent could easily replace the Home Inspector with another who may write more lenient reports. To be honest, there are many other Home Inspectors who would line up to get a steady flow of new clients from the Agent.

The Bottom Line: Spending Hundreds May Save Thousands

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified independent inspector of your choice. Independent home inspectors are hired by you, and they do not have a relationship with the real esate agent. Hiring a qualified independent home inspector could keep you from buying a house that will cost you many thousands of dollars in repairs down the road. Only after the independent home inspection is complete and you are satisfied with the results of the inspection, your real estate purchase offer can proceed.

Since the fall of housing prices over the last few years, many home owners seem determined to get at least their purchase price out of their home for sale, while many others are looking to recoup the amount of money that they’ve paid into their homes. While this seems like a reasonable strategy, when you consider that the fall in housing prices has greatly reduced the amount of money that many of these homes are worth now, it is easy to see how listing your home at possibly a hugely inflated price is most certainly going to hurt your chance of a sale.

There are many problems with pricing your home with unrealistic expectations, as you can well imagine. Firstly, if you price your home like you’re trying to sell it to home buyers who’ve taken a time machine trip from 2005, you’re likely to not get many people coming to look at your home. Anyone who is looking for homes in the price range that you’ve set for your home is probably going to be looking at substantially nicer or larger homes than yours because your home should be priced in a lower bracket. If you do get any prospective buyers coming through to tour your home, you are likely to not get many offers—at least not in the range that you’re looking for.

What home owners might not realise though, is that a home that sits on the market for long periods of time isn’t encouraging for prospective buyers; they see that a property has been on the market for months—maybe with small drops in the outrageous asking price—and decide that all the other buyers out there have already decided that it’s not a property that’s worth buying. In addition, you’ve had to keep your home in a show-ready state for months in case a realtor calls to show your house; this can be merely a hassle to keep a home in a permanently staged state and it can also cost you money if you’re renting furniture or having a house cleaner come in to help you keep it immaculate.

For your best results in home selling, consult your realtor for their judgement on what kind of listing price they think that you should start with; many listing agents won’t even take on a client if they insist on pricing their home completely unreasonably because they know that it can be a waste of time to go through all that work for something that isn’t going to sell.

Many prospective homebuyers in California are becoming increasingly aware of the term Mello-Roos when looking to purchase new and used homes. For those that are unfamiliar, Mello-Roos is simply a special tax assessed to homeowners in a community as repayment for bonds used to fund the infrastructure within their community.  To home buyers, Mello-Roos often carries a negative connotation, one where the monthly payment for a home will be significantly more than one in a non Mello-Roos community.  But is this a fair assessment?  We will attempt to answer this question in order to educate any potential homebuyers about Mello-Roos.

Advantages of a Mello-Roos District to Home Buyers

New schools, parks, recreation centers, etc can be built and funded using the revenue generated from the Mello-Roos income. More housing inventory will be created when undeveloped locations are built up. Generally speaking, low crime rates and highly desirable new schools are common in Mello-Roos communities.

Disadvantages of a Mello-Roos District to Home Buyers 

Cost of housing may be increased because of the tax, possibly limiting the amount of prospective buyers when it comes time for resale. Maintenance of the improvements could be more costly than anticipated.

Quick Mello-Roos Q & A

Q: Where Is Mello-Roos Most Commonly Found?

A:  In Orange County, CA most cities with new construction will have at least one community with Mello-Roos; however, the southern portion of Orange County is where it is most prevalent.  Likely cities might include: Irvine, Mission Viejo, Aliso Viejo, Tustin, Laguna Hills, Rancho Santa Margarita, Coto De Caza, and San Juan Capistrano.

Q: What Year Homes Have Mello-Roos?

A:  Almost always, Mello-Roos is found in areas with newer neighborhoods and subdivisions built between 1994 and the present.

Q: How Long Does Mello-Roos Typically Last?

A: The length of the Mello-Roos tax varies from subdivision to subdivision.  Fifteen years from the original build date is about average. The payment very rarely extends beyond 30 years or is shorter than 7 years. 

Q:  How Much Is It Typically?   

A:  Depending on the year of construction, it can range anywhere from $25 to over $300 per month; the actual tax is usually collected annually or semi-annually. 

A Brief History of Mello-Roos

The term Mello-Roos was derived from the names of its co-authors, Senator Henry Mello and Mike Roos. It is also generally termed as the Community Facilities District Act (CFD).  The CFD started when people in California voted for Proposition 13 in 1978 to limit property taxation. Therefore, new initiatives were considered to finance public constructions and improvements.  In 1982, the California State Legislature made Mello-Roos legitimate.

After passing a community vote with two thirds in favor of becoming a Mello-Roos district, bonds are issued to help fund the community infrastructure.  Normal services and infrastructure would include police services, schools, roads, ambulance and fire protection services, utility connection, sewer lines, and streetlights.  Once Mello-Roos is established, residents must repay the bonds in order to fund ongoing projects. A special tax is assessed to the homeowners as the repayment method and levied yearly. An ongoing lien is used to make sure that the taxes are safe and secured. 

The bottom line to the buyer of a home in a Mello-Roos community is that they will have to pay this tax in order to repay the municipal bond.  This would be in contrast to a non Mello-Roos community where the infrastructure and services would be paid for by the surrounding residents or the actual builder.

Final Thoughts on Mello-Roos

Considering the pros and cons of living in a community with Mello-Roos is very important for Orange County homebuyers.  Although Mello-Roos communities have many amenities that both established and newer Non Mello-Roos communities may not have, a prudent homebuyer should weigh these facts in determining if the amenities warrant the increased monthly payment.  Ultimately, homebuyers will need to decide if the attraction of a newly built home is worth the extra expense in areas prone to having the tax.  If a CA homebuyer is looking at homes built in the last 15 years, they should at the very least be inquiring as whether or not Mello-Roos exists in the community.  It is the buyer’s choice whether Mello-Roos is something they can live with and we truly hope this guide will make their decision easier.

Selling a house can be a much implicated process. By keeping track of your progress with this checklist, you can eradicate many of the pitfalls, time delays and aggravations that can erupt at any time during the house selling period. There is a short-term loan program known as a “bridge loan” that can help you cover extra cost you will have of covering your new mortgage before you have sold your existing home. You may also be able to use a home equity line of credit on your existing property to accomplish the same thing. Essentially you would borrow against your equity to get the cash for the down payment on the new home.

Bridge loans can be much more costly than home equity loans or lines of credit. They are typically a short term solution to help you during the changeover when you have not yet sold your current home but have purchased a new home. Once you close on the new home, do what you can to sell your old home as quickly as possible. Juggling the expenses of two homes at the same time can cause home buyers to panic. Some homeowners get hung up on getting their “price” on the sale and forget that for each month they hold on to their old home, the money they pay for the old home is lost money.

Sell your home fast

What happens if our home does not sell before we buy the next one? I understand we will have two mortgage payments, but is there a program out there that can help create a bridge between two loans? Yes of course there is a short-term loan program known as a “bridge loan” that can help you cover extra cost you will have of covering your new mortgage before you have sold your existing home.

You can also use a home equity line of credit on your existing property for achieving the same thing. Basically you would borrow against your neutrality to get the cash for the down payment on the new home. Bridge loans can be much pricier than home equity loans. They are typically a short term solution to help you during the transition when you haven’t yet sold your current home but have purchased a new home. Once you close on the new home, do what you can to sell your old home as quickly as possible.

This is a fast world, where everyone is on the move and wants to do everything quickly. People want fast food, fast travel and even to sell houses quickly. The first thing that has to be done to quicken the sales process is to get the property appraised from a certified appraiser. This is to make sure that you quote the right price when making quotes on the house. Giving the right quote greatly augments the sales proceedings and offering incentives also help curtail the sales cycle. There is a probability that the buyer will get the intimation that you are frantic to sell, but if you do turn to this to hasten the sale proceeds and then try to get you to recognize a bargain-basement price.

You could offer show tickets or higher commission to your real estate agent for a speedy sale, a meal at a fine restaurant or some other perk if the property gets sold quickly. There are also those “cash for homes” ads that you find on matchbook covers and late-night TV. Houses sold this way are sold quickly, but they are usually heavily discounted. Making the house easy to get to at all times improves the speed of home selling in a great manner.

There are many agents who are unwilling to show a house that takes 24 hours to get into. You can catch the attention of more buyers to your home with a few low-cost cosmetic steps like cutting the grass, painting drab walls, cleaning up the outside of the house and defrayal up any clutter there is inside the house. It is advisable to do this, as most people like buying homes that appear clean, solid and well maintained you can follow the above process. You could consider hiring a good real estate lawyer to represent you in the sales proceedings to save time in legal procedures.

Buying a home with no money is still possible through an FHA loan, which only requires a 3 percent down payment. Find a way to purchase a home with little up-front costs withinformation from an experienced real estate agent in this free video on home buying. Expert: Alicia Lowther Contact: AliciaLowther@realtyexecutives.com Bio: Alicia Lowther prides herself on providing excellent service for both home buyers and sellers in Pinellas County. Filmmaker: Christopher Rokosz

How to Sell Your Bayonne, New Jersey House Faster Than Ever! (How it works) Once you’ve completed our Seller Questionnaire providing your contact information and telling us about your Bayonne house for sale, one of our professional home buyers will contact you by phone or email about buying your home. If your home meets our purchase criteria, we’ll schedule an appointment to come out and see your house and make you one or more offers to buy your house on the spot! It’s that simple.

Who we are. Homecash2you.com is a group of professional home buyers in Bayonne, New Jersey and around the country that specializes in purchasing houses quickly for all cash or on other creative terms. We are not real estate agents who want to list and sell your home for a commission, so there is never any broker fees or real estate commissions. All you have to do is tell us about your Bayonne home for sale so we can possibly buy it. That\’s how simple it really is!

We can save you time and money. We know that selling your home can be an expensive, time consuming and complicated process. We understand your situation. If you need to sell your Bayonne, New Jersey home fast, we are your number one solution. Our local, professional home buyers can buy your house in 7 days or less once you’ve notified us of the Bayonne home you have for sale. We can pay all cash, take over your payments or lease-purchase your house immediately! We will handle all of the paperwork, make all the arrangements and close within a few days if necessary. You’ll get a quick sale with no hassles, so you can put your house selling worries behind you once and for all. There will be no more stress and no more home selling headaches.

We buy houses in Bayonne, New Jersey in all shapes and sizes. We purchase all types of property, whether it’s a new house, an old house, a big house, a small house, a pretty house, an ugly house or a house needing major repairs… We like to buy them all. We buy as many houses as we can in New Jersey and are always looking for more houses to buy.

We buy houses in Bayonne, New Jersey in any situation. If you are selling your Bayonne, New Jersey house due to divorce, illness, unemployment, relocation, behind on payments, bankruptcy or foreclosure, we’d like to help you find a solution that fits your unique home selling situation. We specialize in finding creative solutions to tough real estate problems that Realtors and other home buyers won’t touch.

We are your best solution to sell your home fast. If you’ve tried to sell your Bayonne, New Jersey home for sale by owner and failed or you have listed your house with a real estate agent who was unable to sell your home, we are your best solution to get your home sold quickly. Sell your house to us in 7 days or less and avoid all the hassles and uncertainties of trying to sell your home yourself or through a real estate agent.

We are your ideal home buyer. If you sell your home to us, you won’t have to continue searching for the perfect buyer while you wait, month after month to sell your house. You won’t have to continue having open houses and showing your home to unqualified strangers who waste your time and scare the dog. You can sell your home in Bayonne, New Jersey in 7 days or less and move on with your life!

Sell your home in Bayonne, New Jersey in 7 days or less! Please complete our confidential Home Seller Questionnaire on our website at to speak to a live representative. Tell us all about your Bayonne home for sale, how we can reach you and one of our knowledgeable house buyers will contact you ASAP about buying your house fast.

Choose the best offer to sell your house fast. If your Bayonne, New Jersey house qualifies for our purchase program, one of our professional house buyers will schedule an appointment to come visit your house, take some photos and make you one or more custom offers to buy your home quickly so you can sell your house fast! We are confident that you will like one of our offers. If not, you are under no obligation to sell your home to us.

We are ready to buy your Bayonne, New Jersey house today! Our home buyers are ready, willing and able to buy your house and help you through the entire home selling process. All you need to do now is call 1-888-579-1561 or visit our website at www.homecash2you.com to complete our confidential Seller Questionnaire and one of our local home buyers will contact you about buying your house fast.                                                                  Why wait another minute to sell your Bayonne, New Jersey house when you can sell your house to us today?

While the economy still has a long way to go to recover, we are currently at an ideal time to buy real estate. It is true that there are a great many home owners who have underwater mortgages right now and a swelling on the horizon that is an indication of the next wave of foreclosures that’s threatening to hit the shores, but all of that foreboding probability is bad news for home owners who bought into the market during the boom years of the real estate bubble. Luckily for potential home buyers now, other people’s misfortune or unfortunate timing is resulting in opportunities that wouldn’t be even near possible even a few short years ago for many of them.

Currently, the value of real estate is still bottomed out; some experts say that prices may continue to drop slightly, but the bottom will most likely not be much lower that what we’re seeing at present they say. After the bottom is hit, it is anticipated that the increase in real estate prices will rise slowly which will give potential buyers more time to buy into the market at the lower prices. These lower prices have been helping many potential buyers to be able to afford to buy into the market where they had not been previously able to; while many other buyers have been able to buy larger homes or homes in more expensive neighbourhoods than were previously in their price range.

Added to the lower real estate prices is also the lower interest rate that is currently available on mortgages at present. Due to the Federal Reserve’s program of buying up mortgage-backed securities, the rates for 30 year terms have been held at between 5 and 6%. This program will continue until March 2010 at which point—unless there is an extension—the rates will likely rise over the rest of the year.

The other factor that is helping many people buy into the real estate market currently is the government’s Home Buyer’s Tax Credit that was extended from last fall. This credit has been a valuable asset for many people who are looking to buy homes across the country who may have needed a little extra benefit to get their foot in the real estate door. This tax credit will be ending at the end of April unless there is another extension from the government.

As everyone knows, buying a home is stressful and one of the most important decisions that one has to make is what kind of mortgage to get. Choosing the mortgage that works best for you and addresses your specific needs can potentially save -or cost you -thousands of dollars over the length of the mortgage.

Perhaps the biggest decision is whether to take a fixed rate (FRM) or an adjustable (ARM) mortgage. A fixed rate mortgage is just that -the interest rate on your loan will not change even if interest rates go up or down. An adjustable rate mortgage will go up or down, depending on the prevailing interest rate at the time. It all depends on the state of the economy, your personal and financial situation and just how much of a risk you want to take. Around 70% of all mortgages are fixed rate.

A fixed rate mortgage offers stability -you do not need to worry about your monthly payment going up, although you may be missing out on a better rate. An adjustable rate mortgage carries an interest rate that is connected to the prevailing market rate -the monthly mortgage payment will be more or less, depending on what the market rate is doing. An adjustable rate mortgage does offer some safeguard – there may be a limit on the amount the rate can change during a certain period; there may also be a limit on the amount that rates can be increased over the length of the loan.

A change in the interest rate can mean a big difference in how much you pay for your home. An interest rate of just one point less can mean a savings of around $50,000 on the average thirty-year mortgage and around $5,000 on the average 15-year mortgage. In addition, an increase in the interest rate of just one or two percent can mean monthly payments that are between $50 and $250 higher. Another option is to take out the fixed rate mortgage and then re-finance if interest rates go lower.

The length or term of the mortgage is also important. Most home buyers opt for the traditional 15 or 30 year mortgage, but it is also possible to take out a mortgage that is 10, 25 or even 40 years. It all depends on how much you can afford to pay each month and how quickly you want to own your home outright -obviously, the shorter the term of the mortgage, the higher your monthly payments are.

It is also possible to take out a 30-year mortgage and when you can afford it, pay more towards the principal, thus making the term shorter. Simply making an extra payment a month will significantly reduce the term of the mortgage -as well as saving a substantial amount in interest charges. If you pay extra, make sure the payment is going towards the principal, rather than the interest.

There are some other options available. An option adjustable rate loan has an interest rate that adjusts every month -it allows homebuyers to enjoy lower monthly payment amounts at first and then to make higher payments later, when they can better afford it. A so-called balloon mortgage offers a payment schedule similar to the traditional 30 year mortgage -but with a shorter term of up to seven years. At the end of the term, the buyer must pay the outstanding balance.

You may also be eligible for an FHA (Federal Housing Authority) loan -a fixed rate mortgage that is designed for home buyers with a low income or poor credit, who are buying a home for the first time. An FHA loan usually requires less of a down payment and offesr a lower interest rate than a regular mortgage. An FHA mortgage loan is also secured to the lender in the event of default by the purchaser.

Another option is a VA (Veteran’s Affairs) mortgage, which applies to buyers who have experience of serving in the military, as well as a surviving spouse. VA loans have several advantages – it’s possible to get a mortgage with little or no down payment, the loans are assumable and there is no penalty for prepaying the loan. However there is a maximum loan amount – in most states this is $417,000 -and you still have to qualify as far as income and credit are concerned.

Your home is probably the biggest single purchase you will make. It is worth taking the time to find the mortgage option that works best for you. The types of mortgages that are available all affect your payments differently. The type of mortgage chosen mostly depends on personal income and the length of time in which you are looking to pay for the mortgage.

We’re in a very strong seller’s market here in Calgary! The past few months have been frustrating to many hopeful home buyers. There’s too few homes available, and the good ones are snapped up in a hurry!

Recently I heard of a case in Silver Springs where the sellers received 33 offers on their home in 4 days! What chance do you have to buy a really nice home in a market like this?

Here’s what I’ve learned about how to succeed in this kind of market. I call these rules “The Seven Seller’s Market Strategies!”

RULE #1 – PRE-APPROVAL

Do you want to get the best house you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. You see, price is only one bargaining chip in the negotiations and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.

In years past, I always recommended that buyers get “prequalified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “prequalified” and issues a certificate that you can show to a seller.

Sellers are now aware that such certificates are WORTHLESS, and here’s why! None of the information has been verified! Oftentimes unknown problems surface! Some of the problems I’ve seen include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc.

So the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan, the only loose end is the appraisal on the property you want to buy. This speeds up the process considerably and may give you the competitive edge.. Now it’s like having cash to take to the seller! In a situation where the sellers have several offers to choose from, they will choose the offer from a buyer that’s PRE-APPROVED.

RULE #2 – BETTER THAN DAILY SEARCH

When you first start looking, it’s possible that there will be nothing available that you like. So then what? Your agent should then begin hunting for you and watching for new listings that match what you’re looking for. How often should your agent check? At the bare minimum once and day, and preferably more.

There have been cases recently where a house was listed on MLS and received an offer before MLS had time to put the listing online. Determine if your realtor has a a computer program that alerts him or her whenever there is a new house on the market that meets your requirements. They can fax, email, or call you immediately with the information. You’ll be there before other buyers even know about it!

RULE #3 – SUPER SPEED

As soon as a listing hits the market, it becomes a race. Who can get there the fastest? In this market, you need to be prepared to drop everything, leave work, or do whatever it takes to go see a property. It sounds extreme, but I’m very serious about this. Time is of the essence. Don’t think that you’ll take a look at it this weekend. It could be sold by tonight.

And be prepared to make an offer on the spot. That means bring your chequebook and be mentally ready to make a decision. Some realtors are now printing up offers when they visit a home and filling out the amount in the car. Offers can come in minutes apart. The race belongs to the swift.

RULE #4 – NO COUNTER OFFER

When we make an offer, we’ll make it with the intention that the seller will accept it. We don’t want to get a counter if at all possible. If the seller counters us, then there’s a very good chance another offer will come in before we can accept the counter.

For this reason, we try to make the offer as palatable as possible so the seller can accept it right away. This means we give the sellers their choice of services, avoid all contingencies and steer clear of any terms or conditions out of the ordinary. I used to think that by trying to get “a little extra” out of the sellers for my clients, I was doing a good job for them. And in the past, that idea worked. But try that now and you lose the house altogether.

At first I struggled with this and I felt that by giving the seller everything they were asking for, I wasn’t being a very good negotiator for my buyers. But I got over it. Doing a great negotiation and losing the house isn’t good service. Telling the truth about what it takes to win in this market is the kind of service you want.

RULE #5 – THE PRICE

Better sit down for this one. The asking price used to be the price the seller hoped to get, and the one that offered closest to that price bought the house. That’s no longer true. Now the asking price is the MINIMUM price, the base price to begin making offers. It’s the minimum bid if you will, the starting price at the auction. Make no mistake, for a hot property in a hot location, there will be multiple offers, and they will be more than the asking price.

RULE #6 – BEST OFFER

Buyers have lost a property by offering less than the asking price. I’ve had cases where a competing offer was made at a higher price. The seller came back with the same counter offer for both bidders, but when both matched the second offer, the seller accepted the other buyer. Why, you ask? Because the other buyer’s offer was higher than mine originally.

So the next time I was in a multiple offer situation, we made a very strong offer right off the bat. The other offer was lower than ours, but the seller countered us both, and we both accepted. In other words, the other buyer came up to our price. So now the seller was looking at two identical offers. They chose ours. Why? Because our offer was better to begin with.

Now I know that this makes no sense. The bottom line is the same, so why does it matter whose offer was better originally? I have no idea why this works, but it does. So we don’t fight it, we use it to our advantage.

RULE #7 – THE BIG PICTURE

Now I know that all this sounds like we’re rolling over and playing dead for the seller. We’re giving them everything they want, and then more. But we’ll have the last laugh. We’ll be laughing because we bought a great house in a rising market, beating out the other buyers! Is it really a big deal to pay a couple thousand more when the house will be worth 20 or 30 thousand more next year?

The Calgary market is appreciating at anywhere from 10% a year right now. That means that if you don’t buy the house and it takes you a month to find another one, the price will be a few thousand higher anyway. So are you really paying too much? It’s all in how you frame it in your mind. Don’t think you’re losing when you pay over the asking price, you’re actually winning. Next year you’ll look back and say what a genius you were for making such a smart move.

Maryland is one of the U.S. home markets that is seeing a lot of action. Perhaps this is due to its proximity to the nation’s capital or perhaps it is due to the fact that Maryland is a great place to live. Either way, the Maryland market is jumping and it is becoming more and more important to set your home for sale apart from the masses. Now, some homes are simply possessed of an amazing style and atmosphere right from the start and there is little that can be done to improve and already impressive offering. However, for the vast majority of homes, the responsibility falls to the seller to ensure that their home is properly staged and ready for sale.

The process of preparing a home for sale is as complicated as the seller wants it to be. There are any number of things that can be changed in a home to increase its value. From new floors to new appliances, from something as minute as new towel racks to something as major as a whole new bathroom, the possibilities are endless. The trick is to be able to look at the home and discern what is necessary and what is not. Many home owners have found out the hard way that the changed they made were good but did not properly address the needs of the average home buyer. extravagant design changes may make the home look better but what about the functionality of the existing rooms? The home must be livable; no matter how good it looks it will be hard to sell if the basic necessities of life are ignored. For instance: putting in new appliances is always a good idea. Home buyers like to see shiny new appliances in the kitchen. Let them know that they are all warrantied and in proper working order.

Try to look at your home with a detached and independent viewpoint. Think about the negative things that a buyer will notice if they view your home. Buyers are picky and rightfully so as they will be spending a big chunk of money on a home. You would likely be just as picky when purchasing your new home right? so, what would you replace? Make a list and work them off before listing your home and don’t hesitate to ask your realtor for advice during this process. Their expertise in home selling is a huge asset.

What if you knew how to easily locate the right real estate agent, one that puts your interests first. Use my tips and advice to decrease the stress of buying a home and find the best real estate agent for you.

I certainly understand if you question why I believe I know what constitutes a good real estate agent. I would wonder if I were you.

Here is the answer. For more than 28 years, my husband and I have helped people buy homes. Since I left off being a kid, residential real estate and mortgage financing have occupied my life. I was a licensed real estate agent in the first part of my career and the owner of a mortgage company the last part of my career.

Most people will buy one home, maybe two. Others may purchase an investment or vacation house. In most cases you are going need the services of a qualified real estate agent. And yes, choosing a good real estate agent is crucial.

Instead of listing warnings, do’s and don’ts, allow me to share how I interview and choose a real estate agent.

Number one on my list is to find an individual who makes me feel at ease. Buying a house can be difficult and exhausting at times so why complicate it by employing a real estate broker you don’t feel comfortable with.

It is a shame how many home buyers I observe working with agents who are not matched well to them. The dissatisfaction is discussed for weeks, months and sometimes years after moving into a home.

I believe that buying a home should be fun and exciting. After all it will probably be the most significant and most expensive purchase that you are ever going to make. So why not work with someone that you feel comfortable with since you are likely to be in contact with them on a daily or weekly basis for several months.

Second I am looking for an agent who has my best interests in mind. But how do I know if a real estate broker is truly interested in my personal well being and not simply concerned with making the sale? There are several indications.

Does this agent listen to me? If your agent doesn’t directly address your concerns and questions, this may not be the real estate agent for you.

Does your prospective real estate representative talk first and ask questions later? This is another indication of whether your best interests have been kept in mind. Every great agent listens to what’s on your mind after they ask what is important to you.

A thorough agent will always ask you a lot of questions before ever offering to take you out to view houses. You see, a real estate agent is a valuable asset and they know that your time as well as theirs is valuable too. So they are not going to waste your time showing you houses that you can’t afford or don’t fit your circumstances.

Even though it can feel a little uncomfortable, anticipate a trained agent inquiring into your finances. This is the type of real estate agent I look for.

Some agents give advice without taking into consideration your circumstances. A good agent doesn’t give advice but instead presents options. Your agent should be solution oriented by presenting you with choices that allow you to select what you feel is best for your particular circumstances. Watch for and choose a real estate broker who considers options based on your needs rather than theirs. Above all never feel rushed to make a decision.

High on my list when I interview real estate professionals is watching for individuals who admit when they are unsure of an answer to my question. No matter how experienced a agent, no one has all the answers. So when I ask a question and I hear the words “I don’t know” followed by “but I will find out” it is refreshing. Possessing every answer is not what I care about. That is why I rarely decide on a broker based on age or even experience. A real estate broker with enough enthusiasm and energy to do that little bit extra is who I pick.

Even though it will be your home and a place to live, central to every transaction is money. Although a real estate agent isn’t qualified to approve you for a mortgage, it is still important to be asked about your financial ability such as how much money you have saved for down payment and closing costs.

Top real estate agents know from experience that mortgage financing is the hub of every real estate transaction. As a home buyer, protect yourself by understanding the cost before going out to view houses and especially before you make an offer.

A good agent can help you with this too or you can simply contact a licensed mortgage broker who can prepare a Good Faith Estimate of Closing Costs. If you are comfortable asking your real estate agent, most can refer you to a couple of mortgage brokers for detailed estimates of mortgage costs for your comparison. It is critical that you know what costs to expect before you shop for a house and especially before you make an offer.

Lastly, remember that buying a house is your decision. Take responsibility for your decision by seeking advice from people you like and feel can trust.

I often say when it comes to buying or refinancing a home, it is your house and your mortgage, no one is going to care about it more than you.

Buying a home is usually the biggest financial purchase a person will make, and you want an agent that is truly working for YOU. But, not all agents are created equal. In fact, many home buyers find out the hard way that their agent wasnt solely on their side. In this segment, we explain Exclusive Buyer Agents and what they can do best for you not just at contract time, but throughout the entire process of buying a home. Buying a home is usually the biggest financial purchase a person will make, and you want an agent that is truly working for YOU. But, not all agents are created equal. In fact, many home buyers find out the hard way that their agent wasnt solely on their side. In this segment, we explain Exclusive Buyer Agents and what they can do best for you not just at contract time, but throughout the entire process of buying a home.Buying a home is usually the biggest financial purchase a person will make, and you want an agent that is truly working for YOU. But, not all agents are created equal. In fact, many home buyers find out the hard way that their agent wasnt solely on their side. In this segment, we explain Exclusive Buyer Agents and what they can do best for you not just at contract time, but throughout the entire process of buying a home.