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By Lindsey, on December 23rd, 2011
Wouldn’t it be nice for a buyer to be able to sit down and interview 3 or 4 buyers agents before choosing which agent suits them best?
When a buyer finds a buyers agent who will go above and beyond the job description the buyer knows that the agent deserves to be paid after the work is done, just as with any other job. This is one part of a buyer agency agreement, aka buyer broker agreement, to protect the agent’s compensation for their hard work. If a buyer is not serious about buying and will just waste the buyer agent’s time and money, then they will most likely not want to sign the agreement.
Another side to the buyer agency agreement is to protect the buyer. When the buyer broker agreement is presented to the buyer, it should be thoroughly explained. After the explanation and reading the agreement the buyer should be able to feel as though the buyers agent will fight to the death for them while buying a home.
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(353 words, 1 image, estimated 1:25 mins reading time)
By Lindsey, on December 2nd, 2011
It seems these days that everyone either has been through a foreclosure themselves or know someone who has. Buyers agents everywhere are speaking about how many foreclosures are flooding the market currently. With foreclosures being so prevalent in today’s society a common question arises:
Can I own a home again if I have foreclosed on a previous home?
The answer is YES! But for all of you who are quick to jump the gun, slow down. Take a deep breath. This isn’t going to be a quick turnaround. Most reputable financing companies have a three year or more waiting period after foreclosing.
A buyers agent can help direct you to the right company who can help you get back on your feet.
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(376 words, 0 images, estimated 1:30 mins reading time)
By Lindsey, on October 31st, 2011
It is that wonderful time of year when the goblins and the ghouls are out in full force, along with any tiny little ghosts and creatures of course.
Halloween is coming up and for homebuyers it may be a great time to ask that question about a home you are considering purchasing.
Has anyone died in this house? Is it haunted?
How exactly does one go about finding this information? Well the neighbors are a good start. Head on over with a plate of your best pumpkin cookies fresh out of the oven and casually bring it up.
Riiiiiiight….like that would ever happen.
Realistically, there is no for sure way to know if your home has been the site of a death. You can assume if it is an older home, that many deaths as well as births have happened there. It is a natural cycle of life. Your buyers agent may also be a great place to get any additional information about the house you may desire. Buyers agents have access to obscene amounts of information such as: where to find financial assistance, home insurance, best local inspectors, and community news.
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(326 words, 0 images, estimated 1:18 mins reading time)
By Lindsey, on August 8th, 2011
Do you ever feel like you are in a hamster wheel deciding when the best time would be to jump off?
Well you are not the only one. There are a few things to consider before deciding when to buy a home. There is no doubt in anyone’s mind that the housing market is highly unstable presently. Waiting around for it to stabilize would be foolish if you take a look at your current financial situation and decide it is a good time for you, personally, to buy a home.
Get your ducks in a row.
Raise your credit score and make sure your debt-income ratio is at the correct percentage.
What is the correct percentage for your debt-income ratio to be? According to the Lending Tree website, your debt-to-income ratio should be no higher than 36 percent. Anything higher and you run the risk of denial or higher interest rates.
Job Stability.
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(560 words, 0 images, estimated 2:14 mins reading time)
By Lindsey, on June 10th, 2011
Rental prices have gone up dramatically. As with everything in the economy, the rates follow supply and demand. Now that there are more foreclosures, there are more people looking to rent homes. If the home prices aren’t enough to entice you to call your local buyers agent, maybe checking out local rent will be.
Rent is up almost 8% in the last 10 years according to CNN Money. In a Trulia report out of 50 cities that were covered, it was cheaper to buy in 36 of the cities than it was to rent!
Home buyers are overly cautious. In order to break the cycle of indecision, it is time to break out the calculators and do some real number crunching. Make sure you have a timeline of how long you will be renting vs how long you would stay in a home if you purchased it. Start with the price-to-rent ratio. This means you divide the price of the house by the cost annually it would be to rent a similar one. If the rate ends up to be above 20%, it is generally smarter to rent if you are only planning on staying about 5-7 years.
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(333 words, 0 images, estimated 1:20 mins reading time)
By Lindsey, on May 22nd, 2011
Is the housing market coming back around yet? There isn’t anything obvious to confirm this assumption, but home prices are rising in certain areas.
For instance, The Charlotte-Gastonia-Concord, NC-SC area home prices have risen 12.2% since the beginning of 2010. This is good news for anyone who has bought a home in the area in the last year, the median home price being $$195,000. Their homes have gained value over the last year. This is not the case everywhere.
I will give you a quick rundown of the areas where home prices have gone up and then will compare them to the areas where home prices have declined over the last year. See which category you fall into if you have bought a home in the last year.
Coming in second to the Charlotte area is Buffalo, Niagara Falls, NY. The prices of homes here has risen 10.8 % in the last year bringing the median home price to $118,100.
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(602 words, 0 images, estimated 2:24 mins reading time)
By Lindsey, on April 12th, 2011
Dual agency definition: Occurs when the same brokerage represents both the buyer and the seller under written agreement. This means that if you have a buyers agreement with a real estate agent and find a home you are interested in that is under the same broker that your agent works for, another agent or the same agent within the same office can represent the seller.
That doesn’t sound so bad does it? Written agreements are made, that sounds safe.
Think again. Dual agency can be detrimental to a buyer in certain cases. A company that allows dual agency may say they work as a dual agency but actually operate more closely to a single agency. In small offices, phone calls with the buyer discussing pricing and terms can be overheard or faxes accidentally seen. Unintentionally an agent may be talking about a buyer in the break room and be overheard by the sellers agent. This can give the sellers agent information that may benefit the seller.
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(318 words, 0 images, estimated 1:16 mins reading time)
By Lindsey, on March 27th, 2011
Geothermal underwear? Is that like the new Under Armor? Wait, geothermal is under the ground…I get it.
I saw a commercial on tv recently promoting geothermal heat. Where I live oil heat is still the predominant source of heat for many homes. It is expensive, NOT earth friendly, and quite frankly prehistoric.
So the geothermal commercial intrigued me to find out more about this efficient, green heating system. Here is what I found out.
Apparently in Maine there is a way for homeowners to get 30% of the installation cost put towards a tax credit. Sounds good but is it worth it?
This is not a new concept by any means. Humans have been using the earth’s own heat in productive ways since the Paleolithic era, think hot springs. There are many left over minerals and solar energies that were absorbed when the earth was formed. The decay of these minerals is a little radioactive. So the decay along with the solar energy that is absorbed at the surface creates a heat that can be used to heat our homes with the help of a heat pump.
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(448 words, 0 images, estimated 1:48 mins reading time)
By Lindsey, on March 16th, 2011
Are you a teacher, a firefighter, law enforcement officer, or an emergency medical technician? If so, you may qualify for the Good Neighbor Next Door incentive that is offered through the US Housing and Urban Development program.
What is the Good Neighbor Next Door Sales Program and who qualifies for it?
The Good Neighbor Next Door Sales Program is a program when the HUD offers a large incentive, a discount of 50% off the listing price of the home. This applies to homes in “revitalization areas.” These areas are designated by HUD and authorized by Congress under the National Housing Act. It promotes revitalization through more opportunities to own homes in the areas. HUD uses criteria like household income, the rate of homeownership, and the foreclosure activity on FHA-insured mortgages.
Your local buyers agent can help you find eligible properties in your area.
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(415 words, 0 images, estimated 1:40 mins reading time)
By Lindsey, on March 6th, 2011
So if you didn’t catch the first half of this list last week, check it out here. I have entered the second half of the list below. I would love to hear from people who live in these places or are considering buying in them!
If you think there is a city out there that wasn’t on the list but should have been, let me know and I will pass the word!
1. Winner of Best View for the Money: Deerfield Beach, Florida
Average Home Price in this beach town is $89, 400! Did I just say that? Yes, 89 thousand. This awesome ocean town is within driving distance of the major sports teams in Miami as well as the culture in Ft. Lauderdale. I don’t know about anyone else, but I think I am feeling the effects of Seasonal Affective Disorder and this sounds like a great place to start my sunshine/warm weather therapy.
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(563 words, 5 images, estimated 2:15 mins reading time)
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