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May 2007

May. 15, 2007 - Protect Your Credit At All Costs

                                                               

 

Identity theft has become a sad reality.  I am working with a client now who had her identity stolen.   Being the person she is, she went to work on it right away.  She hired a lawyer who assured her he would take care of it.  She gave him a hefty retainer and had been making monthly payments to him.  A few months later thinking that it had all been taken care of we went in search of her perfect townhouse.  We found a perfect place and we placed an offer.  Later that afternoon she called me in tears.  Her lender had informed her the lawyer had done NOTHING.  (why didn't the lender know that before?  HMMM thats another story.)  So for the last 6 months we have still been trying to get her credit reports straightened out.  Moral of the story??  Be very vigilante about watching you credit.  Get your free report once a year or there is insurance you can buy now to protect you.

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May. 14, 2007 - Using a Buyers Agent

Using a buyers agent can be a very smart move.   This is a definite buyers market, and a great time to buy.  Mortgage rates are still at all time lows and there are many properties out there to buy.  Some sellers however have not realized that they can not get the same amount of money for their places that they could just 2 years ago.  For the first time in a long time, home sellers that bought in the last few years may not be able to sell and get a profit.  So they will test the market so to speak by pricing their home on the high side.  What if you fall in love with the house but you know it is priced to high.  The seller is not ready to talk lower price.  Your buyers agent can really help with the negotiations.  He or she will keep in touch with the sellers agent having a pulse and a phone call when the seller is considering a price reduction.  They will know what is important to the sellers, price, selling quickly thus having a short closing period.  A good buyers agent will guide you through a very stressful time.  The best time to put in an offer is just before the seller is ready to do a price reduction.  Otherwise you might end up paying too much because after the price reduction you run the risk of other buyers being interested in the house.  Your buyers agent will be able to tell you when the time is right.    
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