5 Reasons to Use a Licensed Realtor When Buying Property

Posted at 12:53 PM, Nov. 6, 2008

1) Our services are free to you. Buyers do not pay ANY commissions.

2) Today’s realtor knows how to efficiently search properties online that meet your criteria, desires and needs foregoing long days and weeks driving around in the car looking at unnecessary properties. We search properties daily, so we can find them much quicker knowing which codes and criteria to enter in the MLS narrowing the potential list of “go sees”. AND, a good realtor will preview the selected properties before taking you out, eliminating potentially wasted time for you.

3) The negotiation of the property is our expertise. You need a third party, unattached and knowledgeable professional to keep you from making poor buying decisions for a purchase worth hundreds of thousands of dollars. You may be emotional and may want to make any offer possible to get the property you fell in love with at first site.

We know how to strategically structure an attractive offer to the seller through a fair price, appliances, home warranties, closing cost contribution, etc. With that in mind, we also know how to get you the best possible price. The realtor knows how to accurately assess the neighborhood’s current market value the property is located in to strategically create the right offer.

4) Beyond the negotiation process is the actual transaction. The realtor knows the real estate laws, rules and regulations which will guide you through the transaction. We handle all the paperwork and track time periods so that nothing falls through the cracks. We know when to order a home and termite inspection, what kinds of additional addenda are required, and what additional legal rights YOU have. For example, what’s on the buyer advisory, the value of a home warranty, explaining the Seller Property Disclosure Statement and what to be aware of, explaining what terms like “Superfund or WQARF” are and what they mean to you…etc.

There are also other valuable things your realtor can point out. For example, you have allergic reactions to scorpion bites, and the particular community you are interested in has an abundance of scorpions throughout the area.

5) The entire team that comes with your realtor will all watch out for your best interests. They’re qualified and trustworthy professionals that work with your realtor every day. For instance, a quality home/termite inspector that won’t do a poor job on the inspection that would later come back to haunt you; a reliable mortgage broker that will guide you to the right mortgage program that meets your specific needs so you don’t end up finding a loan officer out to make a quick buck who over approves you, setting you up for a foreclosure in 2 years; an efficient and knowledgeable escrow officer that will guide you through that stack of paperwork your signing at the title company.

Why would you spend hundreds of thousands of dollars, most likely the biggest purchase you’ll make in your life, without using a licensed professional? Would you walk into a trial hearing without an attorney representing you?

Downpayment Assistance for Home Buyers

Posted at 11:44 AM, Aug. 7, 2008

THANK GOODNESS FOR POSITIVE NEWS!!

It's been a busy week! Seller Down Payment Assistance Programs were eliminated by legislation and signed by President Bush on July 30, 2008. July 31, 2008, bill H.R. 6694 was introduced and sponsored by U.S. Rep. Al Green (TX-09).

The bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation is co-sponsored by U.S. Representatives Gary Miller (CA-42), Maxine Waters (CA-35), and Christopher Shays (CT-4) and reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999.

Congratulations! WE DID IT. More than 32,000 Americans have called on Congress and the Bush Administration to preserve charitable downpayment assistance over the past year through phone calls, letters, and emails. They join a broad coalition of supporters, including the National Association of Homebuilders, the Labor Council for Latin American Advancement, and the U.S. Conference of Mayors, the Congressional Black Caucus, and the Congressional Hispanic Caucus.

If you haven't yet, I still ENCOURAGE you to visit www.getdownpayment.com and let your voice be heard.

Read More at Ameridream.org. Charitable downpayment assistance funded in part with seller participation has allowed homeownership to grow without using taxpayer dollars. To date, more than one million families and individuals have utilized this downpayment assistance, generating nearly $10 billion in home equity for those families. These working families qualify for FHA insured loans in every respect, but are unable to save the needed downpayment. AmeriDream has provided more than 250,000 gifts to aspiring homeowners, approximately 80% of whom were first-time homebuyers. AmeriDream also has helped educate 60,000 homebuyers through homebuyer education courses, helped 1,200 homeowners retain their homes when confronted with mortgage difficulties, and committed over $30 million to affordable housing development in local communities.

Finding the Right Neighborhood to Fit Your Lifestyle

Posted at 1:18 PM, Feb. 14, 2008

"Location, location, location!"  When we think of real estate, that phrase is usually the first thing that comes to mind.

Besides the obvious factors that most homeowners wonder about such as schools and crime statistics, how does a homeowner get a true feel for the neighborhood? When you buy a home, you are also buying a lifestyle.  A neighborhood can be similar to finding a mate. On paper, the list may look good.  The schools may have excellent ratings, the crime statistics may be low, and the curb appeal looks fantastic, but is that really the true tale signs of whether you and your neighborhood have made a love connection?  I sometimes hear people complain that they just don't feel as if their neighborhood is their "home."  They love their house but they wish they had more of a connection to the area.

So what can a homeowner do to get a good feel of the area?  Here are some good ideas that I give prospective homeowners:

    * Drive around the neighborhood at different hours of the day. Are people outside enjoying themselves - are they jogging, or taking their kids out with strollers. Are there people washing their cars in the driveways or working on their front yard?  People who are usually working on their homes and who are enjoying their surroundings, tend to invest more in their houses because they like the neighborhood.

    * Strike a conversation with some of the neighbors that you see. Introduce yourself and let them know that you are thinking of buying a home. Ask them them how long they have been in their current residence and if they like it. If you have children ask them if they know anything about the schools. This is a great way to get to meet your potential neighbors and get first hand information. I once had a client who preferred her privacy and didn't like a lot of neighborly interaction. She was considering buying a house at the end of a cul de sac. She decided to talk to her prospective neighbors and found out that in this cul-de-sac, it was customary for the homeowners to throw block parties and attend social gatherings on the block on a regular basis. This was way too much coziness for her so she decided that this may not be the perfect fit for her desired seclusion.

    * Visit local restaurants,malls, theaters, and other businesses. After all, these are the places that you will be frequenting. If you can picture yourself shopping and eating at these local venues, that is a good indication that you will like the area. If you see yourself driving across town because you are not impressed or thrilled about what your area has to offer, you may want to reconsider the neighborhood.

    * Check with the local chamber of commerce and see what projects are being developed. Do these stores and commercial developments fit your consumer needs?

The point is to spend time studying the location before you purchase the home.  Most people would not buy a car without test driving it first. The same holds true for your home and where you live! When you buy a house, you buy into a lifestyle. Make sure your neighborhood and your lifestyle are a good match.

Buy a House Now or Wait?

Posted at 9:25 AM, Jan. 29, 2008

There are a number of good reasons why buying a home makes good economical sense regardless of the housing market.

1.  Homeowners build equity in their homes that can be used as collateral for a home equity loan, or as part of a retirement plan when you finally downgrade into a smaller home.

2. Built up home equity can also be used for putting money down toward your next home.

3. Prolonged home ownerships brings with it equity growth in the form of debt reduction and general inflation.

4. Even if the market starts declining, history tells us that this will only be short-lived, and the market will start increasing again.

5. By using your income to pay off your mortgage, your income is in effect working for you. The opposite is true with renting.

6. One of the biggest benefits to having a mortgage is that, in most cases, the interest portion of your mortgage payment is tax deductible, which can save you a lot of money every year.

Making the decision to invest in such a way is never going to be easy, but by looking sensibly at the market, and by really considering whether the advantages above apply to your specific situation, you are able to make a more informed decision!