Home-Selling Tips for Spring Buyer’s Market

Hello Everyone,

Learn how you can help your sellers prepare their homes for the spring selling season.

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If you have sellers who are planning to put their homes on the market in time for spring, now is the time to get it ready to show.

But wait, it’s still a buyer’s market. What can you do to catch the buyer’s eye and get them to make an offer?

It’s going to take more than a fresh coat of paint and a new welcome mat. A buyer’s market raises the stakes, and your sellers will need to do a lot more work on their homes to get the highest price possible. Cleaning, painting, and repairing may not be enough.

Understanding today’s buyers and their preferences should help you pick which updates are most likely to help your sellers sell their homes faster.

Let’s take the most basic selling suggestions and explore why these are such important mantras.

  • Boost your curb appeal. According to real estate franchisor Coldwell Banker, a clean house with cosmetic upgrades like painting and planted flowers can help form a good first impression of your listing. Why? Eighty-four percent of home buyers use the Internet to search for homes. One-third of home buyers use the Internet first, before any other source. That means that people are making decisions whether or not to even drive by your listing based on how it looks in video, virtual tours, and photographs.
  • Make big fixes where you can. If your sellers’ budget allows, encourage them to invest in bigger improvements. Focus on “make or break” rooms like bathrooms and kitchens, because nothing says “uninviting” like an unattractive cooking space, according to Coldwell Banker. Why? The NATIONAL ASSOCIATION OF REALTORS® found in 2007 that a whopping 59 percent of home buyers remodeled or made improvements to their homes within three months of purchase. Forty-seven percent made improvements to the kitchen, another 45 percent remodeled or improved a bathroom, and 43 percent remodeled a bedroom. Keep in mind that the rate of new-home building accelerated during the housing boom, and buyers are used to seeing as much as 25 percent of available inventory as new. That’s your competition, and the closer you can get the buyer to new, the likelier you are to sell your listing.
  • Be upfront with disclosures. Don’t wait for the buyer to get a home inspection, or the buyer could find a reason to wiggle out of the deal. Encourage your sellers to get a seller’s inspection, so that they can improve the condition of their home before a buyer sees it. You can keep receipts of recent improvements and provide estimates on optional upgrades to potential buyers. These actions will reinforce the trustworthiness of the sellers and help overcome objections from potential buyers. With new homes, buyers have some guarantees that systems will be fixed by the builder if they fail, but they have no such guarantee with an existing home. Providing a home warranty will go a long way in assuring potential buyers.
  • Be realistic. Your list price should be competitive with nearby comparable homes with similar features and approximate condition that have sold or are on the market within the last three months. You may find that homes are taking longer to sell and that buyers are more selective. Your potential buyers may be using the Internet to find home valuation sites, so search those sites yourself and be ready to defend your sellers’ price with proper comparables.

Remember, your listing is competing with new construction and with the buyer’s idea of what a home should look like. More than 33 percent of home buyers prefer a home less than 10 years old, yet the typical home purchased by all buyers was 12 years of age. That suggests that condition is very important.

If you can ease buyers’ fears about the condition of your listing, you’re much more likely to strike a deal.

Please give us a call today to speak with one of our professionals.

Sincerely,

Scott Myers, Century 21 Scott Myers Realtors

(210) 479-1222

Selling Your Home Fast

Hello Everyone,

In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home’s attractiveness besides lowering the asking price. If you’re looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.

Differentiate From the Neighbors
In order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high-grade windows or a new roof. This can help improve the home’s aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that will appeal to the widest audience. In addition, they should complement the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.

However, while it can pay to spice up your home, don’t over-improve it. According to a 2013 article in Realtor Magazine, some renovations, such as adding a bathroom or putting new shingles on a roof, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom remodel is about 58%. For a new roof, it’s even less. If you’re going to invest in home improvements, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home’s listing information. More than ever, in a down market you should take every small edge you can get.Clean the Clutter
It is imperative to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space. Staging costs can range from a couple hundred dollars for a basic consultation to several thousand dollars, particularly if you rent modern, neutral furniture for showing your home. Many people feel that stagers can make a home more salable, so hiring one deserves some consideration.

Sweeten the Deal
Another way to make the home and deal more attractive to buyers is to offer things or terms that might sweeten the pot. For example, sellers that offer the buyer a couple of thousand dollars credit toward closing costs, or offer to pay closing costs entirely will in some cases receive more attention from house hunters looking at similar homes. In a down market, buyers are looking for a deal, so do your best to make them feel they’re getting one.

Another tip is to offer a transferable home warranty, which can cost $300 to $400 for a one-year policy and will cover appliances, such as air conditioners and refrigerators, that fail. Depending on the policy, other appliances and house gadgets may be covered as well. A potential buyer may feel more at ease knowing that he or she will be covered against such problems, which could make your home more attractive than a competing home.

Finally, it’s important to note that some buyers are motivated by the option to close in a short amount of time. If it is possible for you to close on the home within 30 to 60 days, this may set your deal apart and get you a contract.

Improve Curb Appeal
Sellers often overlook the importance of their home’s curb appeal. The first thing a buyer sees is a home’s external appearance and the way it fits into the surrounding neighborhood. Try to make certain that the exterior has a fresh coat of paint, and that the bushes and lawn are well manicured. In real estate, appearances mean a lot. What better way to set your home apart than to make it attractive at first glance?

Get Your Home in “Move In” Condition
Aesthetics are important, but it’s also important that doors, appliances and electrical and plumbing fixtures be in compliance with current building codes and in working order. Again, the idea is to have the home in move in condition and to give potential buyers the impression that they will be able to move right in and start enjoying their new home, rather than spending time and money fixing it up.

Pricing It Right
Regardless of how well you renovate and stage your home, it is still important to price the home appropriately. Consult a local real estate agent, read the newspapers and go to online real estate sites to see what comparable homes are going for in your area.

It’s not always imperative to be the lowest priced home on the block, particularly when aesthetic and other significant improvements have been made. However, it is important that the listing price is not out of line with other comparable homes in the market. Try to put yourself in the buyer’s shoes and then determine what a fair price might be. Have friends, neighbors and real estate professionals tour the home and weigh in as well.

The Bottom Line
Selling a home in a down market requires a little extra work. Do everything you can to get the home in excellent shape and be prepared to make some small concessions at closing. These tips, coupled with an attractive price, will increase the odds of getting your home sold.

Please give us a call to speak to one of our Real Estate professionals today!

Sincerely,
Scott Myers, Century 21 Scott Myers Realtors
(210) 479-1222

10 Rookie Buyer Mistakes to Avoid

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Hello Everyone,

I came across this great article this morning that I wanted to share with everyone. This article talks about some of the mistakes to avoid as First Time Home-Buyers.

It was supposed to be a momentous occasion for Brian, who was about to close on his first home. But after signing a thick stack of documents—and taking part in the ceremonious passing of the keys—something felt off for the then 26-year-old Montgomery County, Md., resident. There wasn’t even a chilled bottle of bubbly or a housewarming gift to punctuate this pivotal moment. “My Realtor told me that I can take him out for a steak,” recalls Brian, who prefers that only his first name be used to guard his privacy. “He made me feel like I owe him something, when he just got paid a $12,000 commission. It felt like a kick in the face.”

Just a few years later, Brian is dishing out thousands of dollars to replace a badly splintered deck, a tired heating, ventilating, and air conditioning system, and a broken window the home inspector—chosen by the real estate broker—didn’t catch. He recalls a handful of instances in which his real estate agent should have been more active as they toured the 16-year-old town home that Brian ended up purchasing, including pointing out his end unit’s cozy proximity to the busy street. “Now I can’t sleep past 7 a.m. because I wake up to the sound of rush hour,” Brian says.

If you’re a property virgin about to take the plunge, here are some common blunders to avoid—and helpful tips that could mean the difference between financial security and a mountain of debt:

1. Not checking your credit report and score

You’ve clicked through hundreds of online listings, compared floor plans and square footage, and are eager to jump-start your search. But before you even think of setting foot in an open house, make sure you get a copy of your credit report. The cleaner your credit report and the higher your credit score, the more likely you are to be preapproved for a mortgage at a low interest rate.

Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct and dispute mistakes before a mortgage lender checks your credit. You can access a free copy of your credit report at annualcreditreport.com once every 12 months.

2. Not getting preapproved

After you’ve assessed your credit report, it’s time to establish with a qualified lender how much you can afford. “First-time home buyers need to take the time to get an approval from their lender before looking at homes,” advises Ray Boss Jr., a seven-year licensed Realtor with RE/MAX Realty Group in Maryland. “This includes getting a credit check and giving their lender a copy of W-2s, pay stubs, and bank and brokerage statements.” Getting preapproved can help you save time by looking for homes that you know you can afford instead of lusting after something out of your price range. And it will put you in a better position over another bidder with no preapproval.

3. Not creating a long-term budget

If the housing crisis proved anything, it’s that mortgages were given to people who clearly did not have the means to pay them back. To avoid making this mistake, home buyers should create a budget before even beginning their home search to determine just how much house they can really afford. A good rule of thumb is to devote no more than a third of your monthly household income to housing costs, which include mortgage principal, interest, taxes, and insurance. There are several work sheets available online to help you figure out how your income, debts, and expenses affect what you can afford each month for the next 15 or 30 years.

4. Forgetting about the hidden costs

You grossly underestimated what you can afford to pay each month. You factored in the purchase price of the home but didn’t consider the cost of taxes, insurance, utilities, and fees. There are several hidden costs that first-time home buyers neglect to prepare for. They can be anything from the closing costs to appraisal fees, escrow fees, homeowner’s insurance fees, property taxes, and even moving costs. Another factor is the cost of repairs and maintenance. “When you’re renting and the furnace goes out, what do you do? You call the landlord,” says Tom Vanderwell, mortgage officer for Fifth Third Bank in Michigan. “When you own a house, what do you do? You have to fix it yourself.” You may find there are numerous “nickel and dime” things to account for that could add up to a significant chunk of money over time.

5. Not using professional help

Sure, it’s possible to go out and buy a home without the aid of a professional real estate agent. But think about how much time and stress a good agent can save you. For starters, Realtors have access to all the homes on the market through the multiple listing service, or MLS, plus all the ones that are under contract and have been sold. A specialist has time to sift through all of these listings, says Boss, and make the appointments to show you the houses, create comparative market analyses to determine proper pricing, and meet with necessary inspectors. Real estate agents also can help buyers traverse a taxing, 70-page legal contract. “I would want someone who is going to look out for my interests first and foremost,” says Boss. “Someone who knows the contracts, who has experience negotiating, and who can walk me through the entire process smoothly—step by step—and make sure I get the house that’s right for me.”

6. Picking your real estate agent and lender blindly

“One of the mistakes a lot of people make is finding a Realtor they aren’t comfortable with,” says Boss. Begin your search at the National Association of Exclusive Buyer Agents, a nonprofit that represents buyers. Or ask relatives, friends, neighbors, and coworkers for referrals.

First-time home buyers, Boss says, are generally more time-consuming than the average buyer and require more attention. A good real estate agent will be friendly and accommodating, show only homes that fit your parameters, and help you with strategies during the bidding process—but never pressure you into something you’re not comfortable with. “It’s important that the Realtor be experienced with first-time buyers, understand their wants and needs, and be able to connect with them well,” says Boss.

Similarly, the buyers should feel at ease with and have complete confidence in their mortgage lender, and they should fully discuss and understand their financing options with that lender. “Don’t apologize for asking questions,” says Vanderwell, who stresses the importance of knowing what you’re getting into. “There’s a pretty substantial chunk of people who are in really rough straits right now and would not have been had they done their homework.”

7. Thinking you’ll get everything on your “wish list”

Another mistake people make is being too close-minded while searching for their home, says Boss. He suggests sitting down with your real estate broker before searching for a home and creating a need/want list. Some of the items you might want to include as “must haves” or deal breakers are the towns you’d want to live in, square footage, or accessibility to transportation. The second part of the list would be things you don’t necessarily need but wish to have, such as a garage, new kitchen appliances, or an extra room for an office. “As you search for your home, you may realize there are certain parameters you really want or don’t want,” says Boss. “Understand that a certain amount of flexibility is essential.” Your aim is to be able to afford everything you need—as well as some items you want—all while staying within a long-term budget.

8. Not keeping your feelings in check before hiring a home inspector

You’ve already chosen the perfect paint color to match your living room set. But hold on: Before you start picking out accent pillows for your sofa, you need to bring in a home inspector to check the safety of your potential new home. Inspectors will evaluate the structure, construction, and mechanical systems of the home and will give you the approximate price of repairs that may be needed. They will examine everything from the electrical system, water heater, and HVAC system to the foundation and floors.

Buyers should find and hire their own inspector—independent of the real estate broker—to ensure there isn’t a conflict of interest. When you make your offer, make sure the seller is aware that your offer is contingent on the house passing inspection. You can also add a clause to the contract stating that the seller will pay up to a certain amount for any repairs required as a result of the inspection.

9. Not researching your neighborhood

You may be living in your dream home, but your neighborhood’s a nightmare. Or you may have children or are planning to have children in the near future, but you didn’t consider the quality of the school districts or parks in the vicinity. You should ask yourself a number of questions during your home search, such as “Are there good schools nearby?” and “Do I feel safe coming home at night?”

Boss suggests that if schools are an important factor, you should go check them out personally. Speak with the principals or the parents waiting on the steps outside to pick up their kids. To learn more about the community, open up the local newspaper, Boss says. You can find out about community events or even how good the local high school football team is. Today’s buyers can gather all sorts of neighborhood information from real estate blogs and websites like Zillow and Trulia. “It is the responsibility of the buyer to check crime reports, school options, churches, and shopping,” says Boss. “Remember, you can change your house, but you can’t change the neighborhood.”

10. Not considering the resale value of your home

You’ve just started the home-buying process. The prospect of selling a home hasn’t even crossed your mind. Besides, you’re thinking you might live in whatever home you buy forever. Yet life is full of surprises, whether it is a job transfer or having another child or taking care of an incapacitated relative.

Please give us a call to schedule your appointment with one of our Agents today!

Sincerely,

Scott Myers, Century 21 Scott Myers, Realtors
(210) 479-1222

New Home vs. Pre-owned

Hello Everyone,

At first when starting to consider your next home purchase your Agent will ask you have you considered a new home or a pre-owned home? So, today I kind of wanted to share some information regarding the pro’s and cons.

Picture the home you’d like to live in. Chances are it bears a passing resemblance to the one you grew up in. A traditional “Leave It to Beaver” colonial or, perhaps, a brownstone townhouse straight out of “The Cosby Show.” Then again, maybe that is not what you are looking for. Maybe you’d prefer something newer, something with contemporary style, the latest amenities and a lot less maintenance. Or maybe you’re not ready for that whole “3 bedrooms, 2 bathrooms and 1.5 kids” thing at all, and a condominium or co-op fits the bill. When it comes to home buying, one size does not fit all. But it does pay to understand the differences when it comes to options between an older house and a new construction.

New House, New You?

Unless you are looking at a custom-built house on an individual lot, most new homes are built in developments with a unified style. These developments can be as small as a cul-de-sac, or as massive as a former farm field filled with dozens, if not hundreds of homes. Built to the latest codes and standards, they tend to be contemporary styled, energy efficient and often are more expensive than resale homes of a similar size. Sometimes, these types of developments can represent a savings over established developments with existing homes. Either way, the decision about whether to forgo an establish community is worth taking time to consider. Specific details vary, of course, but consider the pros and cons.

Pros and Cons of New Construction

PROS
•Contemporary style
•Some flexibility on design during construction phase
•Cheaper to maintain (new appliances = fewer repairs)
•Cheaper to operate (energy-efficient construction)
•Extended warranties
•Cohesive neighborhood (consistent layout, common areas)
•Frequently have a homeowners association (helps protect resale value)
•It’s brand-new!

CONS
•Cookie-cutter design
•Limited negotiating room on price
•Potential for homeowners association dues
•Frequently less character, or homogenous design
•Frequently have a homeowners association (can put limits on how you use your property)

Of course, one home buyer’s pro (“No one has lived in it before us, so we won’t inherit any problems.”) can be another’s con (“No one has lived in it before us, so we have no way of knowing about any problems.”). Fortunately, there are ways to make sure the house you’re buying is really the house you want:
•Check the builder’s track record. What else has the company built? Were previous projects completed on time, on budget and without bad blood between the builder and buyers?
•Walk the streets. If you live nearby and previous stages of the development are occupied, ask the residents if the builder did quality work and lived up to contractual commitments.
•Picture your home, not the model home. You can certainly have the granite counters, surround-sound home theater and jetted tub you saw in the model home, but they’re not included in the base price. You will pay extra for them.
•Bring your own agent. If the builder has a real estate agent on site, the agent will be more than happy to help you. But, on-site agents work for the builders who hire them. Their best interests will be for the builder, not you.

Finally, consider the intangibles. Similarly styled homes attract like-minded buyers, and most developments are built with families in mind. Depending on your point of view, the consistency, conformity and kids playing in the street can be a blessing or a curse.

With new developments springing up seemingly overnight, it’s obvious that new construction is popular. And yet, most people buy a resale home; i.e., a home that someone else has lived in but is now on the market again. Call them used if you must — existing home sounds better — but they’re the kind of houses that many people would like to call home.

Of course, there are pros and cons with existing homes, too. (That darling farmhouse with the big windows? It can be mighty drafty come winter.) Generally speaking, resale homes tend to be more available and less expensive than new homes, but they are also full of surprises.

The Pros and Cons of Resale Homes

Pros
•Availability: More choices, more styles to choose from
•Price may be more negotiable
•Track record: Known issues will be revealed in disclosure documents
•Established neighborhood
•Could contain more charm and character

Cons
•More maintenance: Things break or wear out
•Less energy-efficient: More costly to operate
•Dated design, older appliances and amenities
•It’s been lived in!

As with new construction, there are ways to make buying a resale home less scary:
•Have the home inspected. You do not want to find out the foundation is cracked or the roof needs to be replaced after you move in.
•Consider a counter-offer. If the inspection reveals fixable flaws, propose the seller do the repairs or lower the price.
•Expect the unexpected. Pipes leak, electrical work becomes outdated and furnaces fail — get used to it.
•Be honest with yourself. If major repairs are required, you’ll either have to do them yourself or bring in the professionals. Some people can handle the disruption; others can’t.

The bottom line on resale homes is this: Don’t buy someone else’s problems unless you can tackle the solutions. Find a house you like, consider its pros and cons — objectively, as well as emotionally — and think about the compromises you’re willing to make. The more logically you approach buying the house, the more you’re going to love living in it.

Whether your going to buy a new home or a pre-owned home remember that having a Century 21 agent on your side will cost you nothing for all of the services that we offer helping you move into that new or pre-owned home.

Give us a call to schedule an appointment today!

Sincerely,

Scott Myers, Century 21 Scott Myers, Realtors
(210) 479-1222sa1

Making a Good Buying Decision

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Hello,

Making a good home buying decision is crucial when looking for a new home.

Sometimes we want something so badly, we’re not willing to ask all the questions we should.

Here are a few tips to consider :

1. Visit at various times of day
The windows that let in so much light during the day may be a peeping Tom’s dream at night. That seemingly quiet residential street may be a noisy, highway-feeder street during morning or evening rush hour; or it may be near impossible to get from your quiet street across traffic and onto the feeder street in the morning. The adjacent school may seem like a nice perk if you’re buying in the summer, but during the school year, daily playground noise and extra traffic may be more than you bargained for.

2. Look through recent newspaper archives
“Make sure you’re getting information on what you can’t see,” Levine suggests. Perhaps the municipal water well that feeds your neighborhood has high levels of contaminants or a proposed high-voltage power line may soon be coming through your back yard. You can also check with the city or county to see if there are any proposed projects.

3. Talk to neighbors
How many people in the neighborhood own their homes? Sometimes it’s hard to tell at first if you’re choosing a neighborhood that’s primarily rental houses.

4. Ask if the neighborhood has an association
“Is there a newsletter for it? How often does the neighborhood get together? Do they have a block party every year? “Even if you don’t plan to attend, the fact that they’re having a gathering says they care about their community, that they want to get to know each other, that they’re willing to socialize that way. People who behave that way are building a community. They’re going to look out for your kids; they’re going to look out for your house. It’s a nice, safe way to celebrate something.”

5. Quiz the sellers
What problems are they aware of that the house had in the past – even if they’ve been fixed? An ice dam five years ago may have caused water damage that has since been repaired. But it’s good to know that the house may be prone to ice dams so you can take preventive measures rather than find out the hard way. Discovering the basement flooding was solved by building up the landscaping in a particular area will prevent you from leveling the ground there in later years.

6. Get a home inspection
Virtually all houses have defects, according to National Association of Exclusive Buyers Agents. Some will be obvious and most will be curable. But knowing what needs fixing can help you negotiate a lower price – or at least prepare you for costs you’re soon to incur. Strongly consider getting inspections, too, for lead paint, radon and wood-eating pests.

7. Get detailed records on past improvements
This isn’t always possible. But if you’re told the house’s exterior was painted two years ago – and then see a receipt noting the whole project cost just $1,000 – then you’ll be forewarned that cheaper materials were used and that you may be looking at repainting sooner than you thought.

8. Don’t just assume remodeling will be a snap
If you voice your ideas to the sellers, you may be able to glean valuable insights. For instance, perhaps that shower is in an odd location because, when remodeling 10 years ago, the previous owners discovered a costly structural impediment to putting a shower where it would seem more appropriate.

9. Consider the view
“So many neighborhoods now have teardowns. So look at the two houses on either side of you. If this neighborhood has had some teardowns, one of those houses might be a candidate. And they may build some behemoth structure that affects your light or the way your house looks or your view,” Levine says.

10. Ask for utility bills
You may adore the Cape Cod architectural style or the high ceilings and walls of glass in a modern home – but those winter heating and summer cooling bills may push your monthly payments beyond affordable. Ditto for the water bills you’ll pay to maintain a pristine landscape.

11. Pay close attention to taxes
Don’t just ask what the seller’s most recent tax bill was; ask what several recent tax bills have been. In some areas, houses are re-appraised – and taxed at higher rates – frequently. That great deal and good investment may not seem quite so grand if the property taxes skyrocket year after year. Again, look at newspaper archives or talk to your Realtor about the way taxes are used in this area. In some cities, schools are substantially funded through property taxes – which means you can count on yours increasing regularly.

12. Check with city hall
NAEBA recommends looking into the property’s and neighborhood’s zoning, as well as any potential easements, liens or other restrictions relating to your property. The seller should disclose these facts, but it’s better to be safe. If you’re using a buyer’s agent, he or she should be able to help you with this.

13. Reconsider the bells and whistles
Are you sure you can live with a one-car garage, or a detached garage, or on-street parking? The pool may be a nice bonus, but can you afford the upkeep?

14. Explore the surrounding area
If you’re not just making a cross-town move, you may not know that only three blocks away, this pretty neighborhood backs up to a dumpy commercial area or a less-than-savory part of town. If the home is near an airport, fire station, police station, hospital or railroad track, expect to hear trains, planes or ambulances throughout the day and night. Make sure you’re not too close to an agricultural area that may generate odors or kick up dust or other airborne problems.

Scott Myers
Broker/Owner of Century 21 Scott Myers
(210) 479-1222 or Toll-Free (888) 868-1222
email: Scott.Myers@Century21.com

A Few Things To Know About Going Real Estate Shopping!

Hello,

How many times have you passed by a home you like and cant help but think how much they are asking for the property and how much will the seller actually accept?

Having a good Agent can help you evaluate the property as well as work with the Listing Agent and seller on negotiating a fair price for all parties.  To help  buyer Agents determine what the sellers might accept for the property, agents generally look at :

1.) Who actually owns the home (whether a banking institution or a private seller).

2.)How long has the property been on the market?

3.) What have other similar homes sold for recently (usually within the last 3 months)

Once Buyer agents can get a better idea of the sellers situation your Buyers Agent can recommend a fair asking price.

A good real estate agent is going to be key. They will be your go-between, and the person that does all the dirty work for you. You can discuss everything that you are looking for in a space with them, and they can help you find it! Also key is to remember how important the appraisal process is. This process is a bit different from residential appraisal in that it involves a lot more than actual inspection. There is a lot more involved, such as research of the client demographic, zoning records, the price of similar companies, etc..

Another important thing to remember is that nothing is set in stone. When you are working with the owner of the property that you wish to buy or lease, every thing is negotiable. Make sure to voice your needs and concerns so that everything can be worked out beforehand. A Letter Of Intent is what you will file when you are ready to express interest in the property. Your agent will help you to file this paperwork. You are able to negotiate rental prices, terms, expenses, maintenance and repair issues, etc. Think of everything you can before you commit.

Your real estate agent can help you decide what the proper steps will be in your unique situation. There are several different types of leases, and they are pretty confusing. This is why it is so important to have someone that you trust in your corner to help you navigate through this process!

Scott Myers

Broker/Owner of Century 21 Scott Myers

(210) 479-1222 or Toll-Free (888) 868-1222

email: Scott.Myers@Century21.com

Top Duties of your Real Estate Agent

Hello ,

A few Days ago in our previous blog we talked about Tips on what to do first for the First Time Homebuyer. Many may not be aware but choosing an experienced agent can significantly increase your chances of a smooth and stress free Transaction. Today I wanted to share with everyone the responsibilities of your Realtor .

The Buyers Agent checklist:

  • Pursue the interests of the Buyer Client
  • Agency Agreement, it’s like a basic job description
  • Helps explain the process, sequence, contracts, mortgages, pre-approvals, closings
  • Reviews Closing Costs on a HUD-1 Estimated Worksheet
  • Explain Earnest Money Deposits, Escrow, and Default
  • Listen and answer questions
  • Shows client homes that client found on the internet or agent found doing research
  • Generates comparable data for Buyer to understand current pricing
  • Reviews and explains the Regional Sales Contract, Jurisdictional Addendum, Disclaimer Form, Contingencies Addendum, Additional Clause Addendum
  • Completes, with Buyer, and presents any offer to Seller or Seller’s Agent
  • Explains counter-offers, makes sure contract is ratified
  • Helps schedule home inspections, radon tests, termite inspections etc.
  • On new homes, schedule option selections
  • Gets contract to mortgage lender and settlement company
  • Gives Buyer insight into home owners insurance, locking mortgage rate
  • Makes sure appraisal has been ordered within time frame
  • Reviews Home Owner’s Association or Condo Documents and presents them to Buyer for review
  • Contacts Title Company for updates, such as title or survey issues
  • Contacts mortgage lender to make sure loan is in process, and provide any missing information
  • Helps resolve Buyer or Seller issues that may delay closing or void the contract
  • Schedules contractors to evaluate or any repair issues from inspections
  • On new homes, contact builders rep for estimated closing date
  • Schedule closing time, walk-through inspections, walk-through issues
  • Review “rent-back” agreement if necessary
  • Confirm with Title Company that Buyer’s loan documents and Seller documents are ready to be signed
  • Ensure Buyer has Certified Funds for amount due at closing
  • Be available at closing.

Century 21 Scott Myers, Realtors Office offers buyers a unique prospective and outlook on effective Home-Buying.

Please call our office to discuss the Details and process for purchasing your new home today!

Scott Myers

Broker/Owner (210) 479-1222 or Toll Free (888) 868-1222
email : Scott.Myers@Century21.com