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5 Reasons to Hire a Real Estate Professional
5 Reasons to Hire a Real Estate Professional
Posted: 03 Feb 2014 04:00 AM PST
We are often asked if it makes sense to hire a real estate professional when buying or selling a home. We always emphatically answer – YES!
Here are five reasons why:
PAPERWORK
An agent will help with all disclosures and paperwork necessary in today’s heavily regulated environment. This helps remove much of the liability a buyer or seller could face.
EXPERIENCE
Navigating today’s real estate and mortgage processes can be like walking through a minefield of challenges. Real estate professionals are welleducated in and experienced with the entire sales process.
NEGOTIATIONS
Negotiating such a large financial transaction can get tricky. Agents act as a ‘buffer’ in negotiations with all parties throughout the entire transaction.
PRICING
Real estate professionals help buyers and sellers understand the true real estate value of a property in today’s market. This is crucial when setting the price on a listing or on an offer to purchase.
UNDERSTANDING OF CURRENT MARKET CONDITIONS
There is a plethora of housing information available today. The challenge is that some information appears to be in direct conflict with other pieces of information. A true real estate professional can simply and effectively explain today’s real estate headlines and decipher what they mean to you.
Existing Home Sales Report
Don’t Wait!!
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Don’t Wait! Move Up to the Home You Always Wanted Posted: 28 Jan 2014 03:00 AM PST Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%. However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:
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4 Things You Need from your Listing Agent
4 Things You Need from Your Listing Agent
Posted: 21 Jan 2014 04:00 AM PST
Are you thinking of selling your home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Let us help.
If we were hiring an agent to sell our home today, we would require that they:
1. Understand the timetable with which my family is dealing
You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. I am not suggesting that your agent can pick the exact date for your move. You just want the agent to exert any influence they can.
2. Remove as many of the challenges as possible
It is imperative that your agent know how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.
Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them (commission, length, etc.), don’t expect them to turn into Superman when they are negotiating for you with your buyer.
3. Help with the relocation
If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.
4. Get the house SOLD!
There is a reason you are putting yourself and your family through the process of moving. You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.
Make sure you let your agent know what you and your family expect from them.
3 Questions to Ask Before Buying a Home
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3 Questions to Ask Before Buying a Home Posted: 20 Jan 2014 04:00 AM PST
There are three questions you should ask before purchasing in today’s market: 1. Why am I buying a home in the first place?This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. A study by theJoint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money:
What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the biggest reason you decide to purchase or not. 2. Where are home values headed?When looking at future housing values, we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. Here is what the experts projected in the latest survey:
3. Where are mortgage interest rates headed?A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months. Bottom LineOnly you and your family can know for certain the right time to purchase a home. Answering these questions will help you make that decision. |
If you are thinking about purchasing a home right now, you are surely getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home.If you waited to buy… what’s the cost?
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What it Cost if You Waited to Buy Posted: 15 Jan 2014 04:00 AM PST
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Listings, Listings, Listings…
I need listings of all shapes, sizes and prices!
The market in general is very low on listings. This is from sellers being scared of the market we are just coming out of, sellers who are not in a position to be able to sell and sellers who themselves are having trouble finding their next property.
The first time homebuyers are very active right now. They know its a good time to buy and that rates are still very low… for now. These buyers need to be able to find properties so that the move up seller can do just that and the cycle can start. These buyers are very well educated. They will not overpay for a property and they aren’t as interested in fixer-uppers as they used to be, they want to move in & maybe paint. Investors have been and still are gobbling up properties. This is always a good indication that the market is turning. If investors believe its a good time to buy… then it is!
I have buyers clear across the spectrum in what they need & want, but I specifically need…
Acreages – everyone wants to live on an acreage. I have buyers specifically looking for properties in the Roland Story, South Hamilton & Gilbert school districts. Even if your property is not in one of those districts there are still buyers out there!
1st Time Buyer homes – priced $75,000-$150,000 – they prefer 3+ bedrooms but if priced right, 2 bedrooms will do, these homes need to be in good to excellent shape (helps with financing programs) and can be Ellsworth to Huxley, Ogden to State Center and priced accordingly.
Move up homes/Executive homes & acreages – I have buyers who would love to step up and buy bigger & better properties but they are scared to put their current properties on the market if they don’t know there’s another property out there for them. These buyers tend to be a little pickier, want properties that don’t require updates or repairs and tend to have very good financing & purchasing capabilities.
If you or someone you know has a property that you’re thinking about selling, let me know. I will be more than happy to look at your property, do a market analysis and discuss your options and best plan of action. Pricing a home “right”, getting it listed & marketed correctly is bringing in multiple offers & some even selling above asking price. Remember: supply & demand drive every market!!
Brandi Nelson, Realtor
515-291-0914
The Impact of Increasing Mortgage Rates on Prices
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The Impact of Increasing Mortgage Rates on Prices Posted: 14 Jan 2014 04:00 AM PST
Four times over the last 30 years mortgage interest rates have dramatically increased. Here is the impact the increases had on home values at the time:
Perhaps the impact of increasing rates on future home prices won’t be as dramatic as some are predicting.
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Many pundits are warning that there will be a drop in real estate values because mortgage rates are beginning to increase. The logic makes sense. However, history shows that increasing rates have not negatively impacted home values in the past.
The #1 Reason You Should Sell Now
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The #1 Reason You Should Sell Now Posted: 13 Jan 2014 04:00 AM PST
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense. Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate. |
The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
