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Buying a home with little money in savings

Buying a home with little money in savings

Crucial Questions You Should Ask A Real Estate Agent Before Signing Your Contract

Posted by on Jun 29, 2016 in Uncategorized | Comments Off on Crucial Questions You Should Ask A Real Estate Agent Before Signing Your Contract

Whether you are selling your starter home or this is just the latest of many homes you have bought and sold in your lifetime, you probably already know how important it is to work with an experienced real estate agent. However, choosing the right person is not always as easy as it seems. Fortunately, by asking the following three questions, you can be a little more sure that the real estate agent with whom you will soon be signing contracts will be the right person for the job. Who Will Be Handling Everything To Do With The Sale Of Your Home? Given the dollar amount you will be paying a real estate agent, it is important to be sure that you will be working exclusively or primarily with that person throughout the process. Therefore, you will want to make sure that your phone calls, research, open houses, etc. will not consistently be handed off to a junior agent. Although it is illogical to assume that you will never be asked to leave a message, it only makes sense that you want regular updates and input from the agent you have hired — not the receptionist, a co-worker or an aspiring real estate agent. What Items Do The Administrative Fees Contain, And How Negotiable Will They Be? It is important to note that many real estate contracts will contain an administrative fee. This is often the paperwork equivalent of a junk drawer and could be the charges for phone calls, excess paperwork, and you other miscellaneous expenses. That fee tends to be variable and can as low as $250 or as high as $1500. If the total number of services being listed under the administrative fee do not seem equal to the dollar amount being assessed for those services, you may want to ask if the fee amount is negotiable. Since that money is likely to go directly to the real estate agent and is typically charged on top of the commission already being paid when you sell your home, there could easily be some room for adjustment. In conclusion, choosing a real estate agent with whom you will be entrusting the sale of your home is a decision that can have significant financial repercussions for you and your family in the future. As a result, it is a good idea to ask the questions listed above of any real estate agent with whom you may do business with before signing any binding...

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Is It Time To Hire A New Realtor? 4 Ways To Know

Posted by on May 27, 2016 in Uncategorized | Comments Off on Is It Time To Hire A New Realtor? 4 Ways To Know

If you have ever found yourself struggling to sell your home, you know how effective a good realtor can be. Unfortunately, not all pairs of realtors and sellers work well together. It is often necessary to consider hiring a new realtor to handle your home. If you have been thinking about how to best handle your transaction, you might consider looking for a new realtor. These four signs will show you that perhaps it’s time to take action and switch realtors. 1. Your house just won’t sell. Simply because a real estate agent is experienced and has sold homes before does not mean that he or she is the perfect choice to sell your home. You also need to look for marketing efforts. What tactics is the real estate agent using to make a difference in the way your house is perceived? What changes has the agent made to the pricing or condition of the house to promote its sale? If you can’t answer this question, you may want to speak to another real estate professional. 2. Your real estate agent isn’t delivering on promises. You might realize that your real estate agent just can’t deliver on their promises. Realism is an essential component of being an agent, and you must be able to trust your agent wholeheartedly. Broken promises do not necessarily indicate that somebody is behaving badly. It could just mean that your agent lacks the necessary experience to sell your home. 3. You struggle to communicate. The key to building a strong relationship with your realtor is to communicate, but you may feel as if you are lacking communication from your agent. You must ensure that your real estate agent keeps you up to date with feedback received from potential buyers as well as any offers. An inexperienced realtor may fail to tell you about possible problems with the loan approval process or of buyer questions in a timely manner, ultimately sabotaging your sale. 4. You feel like your real estate agent is not answering your questions accurately or honestly. Some real estate agents may unknowingly direct you toward a plan of action you aren’t necessarily interested in. Selling your home is a big step, and you must be able to trust the person selling it. Sometimes asking questions you already know the answer to can be helpful in assessing your real estate agent’s knowledge. Trust is essential in this transaction. Seeking the assistance of a qualified and experienced realtor is the best way to ensure that your home is sold. For more information, contact a local real estate company like ERA Key 1 Realty Inc.-Cindy...

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3 Clever Ways For Finding Profitable Real Estate

Posted by on May 3, 2016 in Uncategorized | Comments Off on 3 Clever Ways For Finding Profitable Real Estate

Investing in real estate has become popular again, and many Americans are acknowledging the benefits of investing in prime real estate. In fact, a recent study showed that 1 in 4 Americans think that real estate is the best investment vehicle at the moment for money that they would not need in the next decade. While real estate can be very profitable, finding the right property can be difficult at times with all of the competition that’s out there. If you’ve been out of luck, here are 3 clever ways that might get you a great investment. Driving for Dollars Have you ever driven past a property that you think would look amazing if the home owner would just put in a little bit of work? Driving for dollars is a common technique that many real estate investors use to find their next investment vehicle. Basically, what you do is you drive around until you find several houses that either look vacant or distressed. You or a real estate agent then figures out who the owner of the property is to attempt to buy it from them. Looking for Eviction Records Most landlords that are going through an eviction will be able to give you a good idea as to how annoying and troublesome the entire process is. Not only will the landlord be out a good chunk of money, but he or she may also have to deal with a unit that has a lot of damages. Most landlords generally won’t want to deal with the nightmare ahead of them. As a result, you’ll be surprised at how easy it is to find profitable real estate by contacting landlords that are in the process of evicting a tenant out. Picking Up Bargains from Owners Facing Foreclosure Another great way for finding a profitable investment vehicle is to look for homeowners that are facing tough times and foreclosure. These sellers tend to be the most motivated and will want to liquefy their property as soon as possible, so you’ll generally have more leeway when negotiating a fair price.   Conclusion Once you find a good property up for sale, you can either contact a real estate agent, like Seattle Metro Property Management-John L. Scott, or an attorney to close the deal. Don’t rely solely on the real estate agent. Sometimes you’ll have to get your hands dirty in order to find the most profitable and best deals available on the...

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Why You Should Always Reveal The Defects Of Your Home When Trying To Sell It

Posted by on Apr 13, 2016 in Uncategorized | Comments Off on Why You Should Always Reveal The Defects Of Your Home When Trying To Sell It

When a house has a major problem or defect of some kind, it can be tempting for the owner to want to conceal this issue. Homeowners are not legally allowed to do this though, and there are consequences of this action. If your home has a major problem, you might be afraid you will never find a buyer; however, you have a legal obligation to let people know of this problem. Here are three things you should know about this. Why full disclosure is required Anyone selling a home is legally required to fill out a Seller’s Disclosure Form, which requires full disclosure of any type of major problem a house may have. This includes problems with the roof, heating, plumbing, electrical system, and septic, and it always requires revealing mold issues, problems with rodents or bugs, or anything else a person may want to know before buying a house. This form does not require listing minor issues, such as a broken icemaker or missing piece of trim. The main reason this is required is to help buyers know what they are purchasing. It prevents a person from ending up with a lemon of a house, and it helps people save money when house shopping. Consequences of not disclosing major problems If you know of a problem with your home, you face huge consequences if you fail to disclose it. The person that buys your home can legally come after you for this, and you could end up paying a lot of money for the problem. The buyer could sue you for money to cover the following expenses: Attorney fees Costs to make all necessary repairs Punitive damages for the pain and suffering the buyer experienced from this Why it’s better to tell the truth While you might be afraid that no one will buy your home if you tell the truth, it is still better to reveal any problems you know about. Not only is this legally required, but it will also save you from trouble in the future. If you can just be honest about the issues your home has, you will never have to worry about getting sued in the future. The downside to this is that you may have to accept a lower amount for your home, but at least you would not have to worry about consequences in the future. If you are getting ready to put your home up for sale and have questions about this, contact a real estate agent today for your single family home for...

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Personal Touches That Can Lower The Value Of Your Home

Posted by on Mar 21, 2016 in Uncategorized | Comments Off on Personal Touches That Can Lower The Value Of Your Home

If you are hoping to sell your home in the future, there are a few personal touches you might want to avoid when it comes to redecorating. The more individualized a space is, the harder this will be to sell. Here are four upgrades you should try to avoid before selling. 1. Remodels Under the Radar Without the proper permits, it will be hard for buyers to understand what remodeling projects were actually done properly, and the official square footage of your home might be incorrect. Smaller DIY repairs that are outside of your scope when it comes to plumbing and electrical upgrades can come out looking uneven and unprofessional. 2. Extreme Paint Color Choices Inside and Out While you might have a unique taste in color, many real estate agents will nudge sellers to go with whites and beiges inside and outside of a home. If you need to have a splash of color, an accent wall in the kitchen or bathroom is alright, but not an entire living room. Even if you resolve to paint over this before selling, it can be hard to hide darker colors and dark paint choices might bleed through. 3. Unique Backyard Uses As with all areas of the home, if these are set up in a traditional way that people are used to, this can help sell your home. The backyard is no exception. If you have unique items in your yard such as mobile sheds, an above-ground pool, or golf practice runs, you might want to remove these before your open house and replace with grass or mulch. 4. Converting a Garage into a Living Space Especially if you are limited on space, you might want to get more use out of your garage than using this just for cars. The thing is, a lot of people would like to use garages in the traditional sense. If you have converted your garage into a studio, a rec room, or a home gym, potential buyers might only see this as a restoration expense. If you can use this space in a way that can be easily transitioned back to a garage, this will help when you are ready to sell. While one of the main points of buying one’s own home is the ability to make this a unique space, don’t forget about the future. If this is your ‘right now’ home and not your ‘forever’ home, try to strike a balance of what you must change and what you can keep as-is to appeal to potential buyers. Your real estate agent should be able to help in the process and suggest small changes as...

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Two Budget Friendly Marketing Ideas For New Real Estate Agents

Posted by on Jan 21, 2016 in Uncategorized | Comments Off on Two Budget Friendly Marketing Ideas For New Real Estate Agents

Starting a career as a real estate agent can be a very exciting and rewarding opportunity. However, one of the greatest challenges that new agents encounter is marketing their clients’ homes. This is especially true if you have a limited budget and few professional connections. Luckily, if you are finding it difficult to attract new clients or buyers, you might benefit from utilizing the following couple of marketing tips. Utilize QR Codes Buying a billboard or ad in the local paper may be beyond your financial reach. Fortunately, if you have encountered this problem, you may be able to use QR codes to help draw attention to your listings without needing a large budget. These codes can be scanned by a smartphone to open the browser to a particular web page. To help these codes be seen by prospective homenbuyers, you should consider having some of them printed in sticker form. This will allow you to place them on bulletin boards, public transit areas and other high traffic locations. While you will still need to pay to have these printed, it will cost a fraction of what most traditional advertising approaches would require. Create Vibrant Social Media Accounts One of the most affordable ways of reaching a lot of potential clients with minimal investment is through the use of social media. This approach to marketing can allow you to create rich connections with individuals through sharing content. While you may be tempted to have each post market a house you are trying to sell, you should make sure to divide your content into two broad categories. Marketing content can be thought of as the homes that you are attempting to sell, and viral content is designed to grown your social media account. Ideally, your postings should be a healthy mix of these two types of content. This will ensure that your followers do not become fatigued by a constant stream of homes for sale and that your account grows at a healthy pace. Starting a career as a real estate agent can be a challenging task because you may not have the marketing infrastructure, resources or expertise to attract customers, and without enough exposure, it can be almost impossible for you to sell enough homes to make a comfortable living. Luckily, using QR codes as well as understanding how to get the most from social media will help you to get the most exposure for your properties without having to expend a lot of capital on marketing efforts.For more information, visit a site...

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Time to Sell Your Home? Sell It Quicker and for a Better Price by Working with an Agent

Posted by on Nov 19, 2015 in Uncategorized | Comments Off on Time to Sell Your Home? Sell It Quicker and for a Better Price by Working with an Agent

It’s tempting to try and sell your home yourself so you can save on the fees that come with a real estate agent. However, you may actually end up losing money. After all, an agent works on commission, so you can feel confident he or she will work aggressively to sell your home for the best price. Here’s a quick look at why hiring an agent is a good idea. Set the Selling Price It may be difficult for you to set a realistic price when you have an emotional and financial investment in your home. An agent is able to look at your house objectively and compare it to other homes recently sold in your neighborhood. If you set the price too high, your house may stay on the market for a long time, but if the price is too low, you’ll lose money. Real estate values change on an almost daily basis based on trends and the economy. One of the most important things you can do is to have an agent help you set the ideal price so your home sells fast and at a fair price. Prep Your Home One thing that affects the selling price is the condition of your home. You’ll get more money if your home is in good shape, but you have to invest money in upgrades wisely. Some renovations may not affect the selling price very much, and that means the money is wasted. Other things, even simple jobs like painting, can make a big difference in how fast your home sells and how much you get for it. A real estate agent can go through your home room by room and tell you how to prep it for sale. You may need to rent a storage unit to get rid of clutter, update the colors in your bathrooms, paint the house, and take out old carpeting. Your agent can help you decide if it is worth investing money in renovations so you can sell your home at a higher price or if you should leave it as is and sell it to a flipper for a lower price. Deal with Paperwork There is a lot involved in selling a house. If there are known problems with your home, you’re required to disclose them to potential buyers. This requires the preparation of documents to keep you in line with the law. It’s good to have an experienced agent oversee all the legal documents and contracts involved in selling a house. In fact, some buyers may not want to buy from a private seller because of the risk that the transaction will not be handled properly. Since buying a home is a huge financial move, both sides will feel better with professionals handling the process as the house moves through bidding to closing. Another thing to remember when you’re wishing you could avoid paying the real estate agent’s commission is that you’ll need to invest money in advertising anyway. An agent has a big reach when it comes to listing your home with the MLS service, placing videos and photos online, and advertising your home in local real estate magazines. You would have to pay a lot of money to give your home that much exposure yourself. It’s certainly a lot...

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Homebuyer Tips: 2 Ways To Analyze A Potential Neighborhood

Posted by on Oct 23, 2015 in Uncategorized | Comments Off on Homebuyer Tips: 2 Ways To Analyze A Potential Neighborhood

You found a few potential homes with the help of your real estate agent, yet you are unsure which home will best suit you and your family. One of the most important things to consider before choosing a particular home is the neighborhood, and this guide will help you do just that. The following are 2 simple ways to find out if your home sits in a desirable neighborhood.  1. Safety First The safety of your family and yourself should be considered before purchasing a home, and to do that you need to find out if the neighborhood is safe. Consider the following ways to find out if the neighborhood is safe: Local News. Visit a local store, and purchase a local newspaper or purchase one from a newsstand in the neighborhood, as these should reveal the kind of crime that occurs by your potential home. You will also have the opportunity to see community events and the kind of things that your neighbors might be interested in.  Using The Internet. Research has gotten a lot easier with the internet and for this particular task you are in luck because there are several types of tools available to help determine if this neighborhood is a safe one. You should look for a good criminal mapping service and enter the address of your potential home to see nearby crimes. Do not forget to look for a national sex offender mapping service as well, just to make sure that you and your family are far away from these types of criminals.  Analyzing On Foot. Take a drive around the neighborhood, and pay attention to some of the following warning signs: Neighborhood watch signs Homes or businesses with bars over their windows You can talk to your real estate agent about other things you can do to find out if the neighborhood is the kind that will give you peace of mind.  2. A Thriving Neighborhood You also want to make sure that the neighborhood is thriving, as this may make your living experience better. And this may help preserve the value of your home as well. The following are a few signs that the neighborhood is flourishing: Not many homes for sale New businesses opening up instead of closing Clean parks and open libraries Several festivals and community events may be a sign of a great neighborhood There are other things you can look for depending on what you want out of your neighborhood, such as a good school, and you can talk to your real estate agent about any other specific needs you want your neighborhood to...

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4 Tips For Selling Your Home

Posted by on Sep 11, 2015 in Uncategorized | Comments Off on 4 Tips For Selling Your Home

If you are selling your home, you will want to do this as quickly as possible. The benefits of being able to complete this huge real estate transaction are many. This will allow you to move on with your life and find a new place to reside. Knowing specific tips to help you find the right buyer are important. Tip #1: Price it right The key to getting your home sold sooner rather than later is to put it on the market at a price listed to sell. Take the time to look at other homes in your neighborhood for sale and see what the listing price is for these. Additionally, don’t neglect to look at the multiple listing services (MLS) to see what other buyers in your area have paid for homes that have the same value as yours. Tip# 2: Get a real estate agent One of the fastest ways to get your home sold is by hiring a real estate agent to assist you. This individual has the professional skills and training to assist with the things listed below: 1.  Take professional photographs of your home and list these on various online websites. 2.   Assist you with staging your home to help it attract the most buyers. 3.   Negotiate with a potential buyer to get the best price for you. 4.   Advertise your home in the proper local classifieds. 5.   Assist you with the laws surrounding real estate and be there with you at the closing. Tip #3:  Do some landscaping It’s critical to getting your home sold to ensure the lawn is well-manicured and looks attractive to any person who is interested in making a purchase. The first impression of your property will begin before any individual walks through the door. Additionally, be sure to trim the shrubbery and trees and plant some flowers to help make your yard look even more attractive. Tip #4:  Put up the pets Regardless of how much you love your furry friends, you will want to put these away when showing your home. The person who’s interested in buying your home may not enjoy pets, and this could turn off a potential buyer fast. The benefits of selling your home include being able to complete the transaction with ease.  Be sure to consult with a real estate agent in your area to assist you with marketing and selling you home today. To get professional help, click the link or do an online...

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Real Estate Agent Vs. For Sale By Owner

Posted by on Sep 9, 2015 in Uncategorized | Comments Off on Real Estate Agent Vs. For Sale By Owner

For many, their first home is rarely their dream home. Everything’s the perfect fit for you and your spouse, then your family expands and everyone is tripping over each other. In this do-it-yourself age, you may be considering listing the property yourself, but take a moment to consider the benefits of hiring a real estate agent. Time If you have a full-time job and are considering For Sale By Owner, consider the amount of time that you will have to dedicate to the task. Real estate agents have access to resources on recent sales in your neighborhood and the knowledge of the best venue for marketing your home in the area. As an independent seller, you will have to do the leg work to find this information and use a fair amount of trial and error to discover what attracts more buyers. Agents can also screen calls for people interested in seeing your home and show it at more convenient times than your schedule may allow. Money A 2013 census, indicated that 9% of owners were FSBO and earned typically $184k as opposed to $230k for people who went with an agent. Additionally, agents can assist potential buyers with finding financing. This added benefit can be the difference of your home sitting on the market or selling relatively quickly. Consider as well that homes listed by-owner take longer to sell. You will want to calculate how much it costs to continue living in your home, including property taxes, insurance, and the mortgage. For sale by owner listings sell more quickly if you offer the buyers’ agent a 3 or 4 percent commission. So you may still get stuck paying commission fees, even if it isn’t your personal agent. Knowledge Many people are concerned with saving as much money as possible when it come to selling their home, and rightfully so. Understand, however, that you are hiring a real estate agent for her expertise in the area. In the aforementioned census, 18% of the For Sale By Owner crowd stated that they had the most trouble understanding the paperwork. A qualified agent will understand the process of closing a sale and accepting the offer and initiating the inspection phase and will be able to explain it to you. Agents can also help to negotiate better prices for your sale and act as a buffer between you and the buyers and their agent. Additionally, they know the market trends and the best ways to present your home so that it will appeal to local buyers. Everything that the real estate agent has access to, you also have access too. Consider, though, that you will also have to declutter and prepare your home in addition to making time to learn the ins and outs of selling while showing your home to potential buyers. Further, with the added price of remaining in your home and the potential to make much less than your intended price, it may not be worth the time and money to skip hiring a knowledgeable...

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