November Market Statistics

The Greater Albuquerque Association of Realtors has released the November market statistics and I have looked over them in length.  Here are some of the highlights.  In November, 658 homes and condos sold.  That’s down from October’s 827.  However, there's always a silver lining right?  For us, it’s that the 658 sold last month, is actually an increase when compared to the same time last year when just 617 were sold.

Unfortunately the upper end is still suffering from a lack of activity.   Maintaining our market’s consistency…we saw just 4% of the total sales above $500,000.  As expected, most of the sales were made below the $250,000 magic mark totaling for nearly 73% of all of the homes and condos sold in November.  That of course means 23% of sales were between $250,000 and $500,000.

Another thing that stood out to me in the report is supply and demand.  Our market is still out of balance.  In November there were 4,741 homes and condos available.  Out of the 4,741 only 658 sold.  Those numbers tell me that only 14% of homes and condos available in were purchased.  That's 14 out of every 100 homes and condos. This time of year it is a price war and a beauty contest more than ever.  That’s why it’s so important to have an experienced Realtor on your side who will tell you the truth about how you should price your home and show your home in order to get it Sold!

If you would like to buy or sell a home today please call my team at 505-923-4730 or 505-238-1000.

Cheryl

Home Not Selling? What you should keep in mind...

When a home's not selling, there's a reason, and often there's more than one reason why a home continues to sit on the market.  We all know it can be very frustrating to put that For Sale sign in the front yard, expecting a fast sale, only to find that after months you’re still waiting for an offer. I’ve said it before and I’ll say it again… if you want to sell your home in this market, you have to be competitively priced and your home has to show well.  

Pricing, by far, is the most important thing to consider!  Inaccurate pricing can kill a potential deal.  On the other hand, a home priced at market value peaks the interest of agents and buyers. Overpricing simply chases everyone away. In today’s market, the most serious sellers are pricing their properties slightly below market value to generate excitement and activity.  That in turn can lead to a faster sale, especially with all of the competition out there.

You want to be in the top 2 in your area when it comes to pricing.  And if your home doesn't show as well, then you need to be the best deal out there in your price range.

Another reason why your home could be sitting on the market is insufficient exposure.  For Sale By Owners, I'm talking mostly to you. If you’re attempting to sell your home on your own, or with minimal marketing, you need to reconsider. You may have the best home out there, but if no one knows about it, it won’t help you get your home sold. Hiring a Realtor that develops comprehensive marketing strategies is absolutely key.  Realtors like myself will create a compelling MLS listing, effectively market your home on the  internet and showcase your home to top agents in the Greater Albuquerque Area.

Last, but definitely not least, we need to talk about the condition and appearance of the home.  Buyers may see seven or more homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious, and the most cheerful.   Remember, clutter can distract a buyer from the beauty of your home.  Remove the clutter and a buyer will be able to better envision themselves living there.  A real estate professional can offer guidance in that department.

It pays to have a Realtor working for you on both sides of the deal! 

Call my team today for more information on how we can help you! 505-923-4730 

August 2014 Market Statistics

In the month of August the Greater Albuquerque Association of Realtors reported 895 closed single-family, detached homes and condos.  Almost tied with the 898 sold this past July and 5% below sales we experienced in August of 2013.  We also saw more than 950 pending sales in August.  I’m encouraged by those closing numbers and at the same time I am closely monitoring supply and demand as with 1700 new listings in the month of August we have an oversupply of inventory of 5500 homes.

As usual, we saw quite a bit of activity in the Northeast Heights.  What was different this time around was an increase in activity in some areas West of Coors.  The southwest and northwest heights each had more than 40 sales in the month of August.  And I have to mention the East Mountains, as I do quite a bit of business out there and also live out there.  The market is still very slow.  In fact in the month of August there were only 41 detached homes sold.  That’s less than 5% of the total detached sales in the Greater Albuquerque Area.  That area continues to be a challenge, but we are seeing activity.  That’s why it is so important for today’s sellers in these tougher areas to be realistic about pricing and realize that they are constantly in a price war and a beauty contest. 

Maintaining our market’s consistency, we saw most of the sales under that $250,000 mark.  In fact 75% of sales last month were under $250,000.   22% of total sales were of homes and condos in the $250 to $500,000 range.  That means only 3% of sales were over $500,000 last month. 

       

Top Means for Buyer Appeal

Inventory of available homes is dramatically increasing. I want to share some tips on what sellers can do to help their home appeal to buyers! When you put your home on the market, you are entering into a price war and beauty contest! Let’s focus on the top objectives to concentrate on when preparing your home for a showing!

Great, what’s number one?

Without a doubt, curb appeal. It’s the first thing buyers see on the internet, and when they pull up to the house. Buyers will decide to see your home or rule it out based on that first impression. Cleaning the yard, fresh paint on the trim, making it inviting, is vital.

I can understand that. What can you advise about the interior?

When a buyer is going to look at your home, they’re not trying to view it as your home, but instead to imagine themselves living there. Remove excessive personal belongings and clutter. Focus on the primary areas such as the kitchen, living room, and owner’s suite. These are the areas that cause a buyer to fall in love with your home! There’s always a balance between living in a home and having it ready to show. Too many personal photos can be overwhelming, but a few family photos strategically placed can show that this is a happy home for a happy family! A common mistake we see is a house looks amazing, and then you open a closet and it’s like an old sitcom scene with things flying out and hitting you in the head.

Anything else that comes to mind?

Our clients often ask us to give staging ideas, which we’re happy to do. There are professional stagers that may charge up to a few thousand dollars. One of the benefits we offer our sellers is that we have partnered with a fabulous stager who will come into your home for a nominal fee for 3 hours and work with you to help rearrange and regroup your existing furnishings and décor! This will help maximize the show-ability and sale-ability of your home, giving you the best chance of winning the home beauty contest! 

DIY Homebuying

Can you tell us why it's not a good idea to buy a home without using a Realtor?

Absolutely! Buying a home without using a Realtor can definitely be a risky choice. A buyer might think that they're making a smart financial decision in trying to cut expenses by not enlisting the aid of an expert in the real estate industry, but in reality, they could be making exactly the opposite.

Why should buyers elicit the help of a Realtor?

It's simple. Realtors, like myself, are experts in their profession! Buyers who try to represent themselves in a real estate transaction may have knowledge based on previous experience with buying or selling, or reading some real estate know-how books; Realtors, however, live and breathe real estate. And while books are great (I myself read up constantly), they don't represent all of the complex rigors and rules of our current housing market. It's our job to know all of the ins and outs of every real estate transaction, as well as to make all aspects of the sale as smooth and swift as possible.

Can you give us some examples of times when a Realtor is a necessity in a real estate transaction?

Well, I believe we are needed throughout the entire process in order to ensure a great transaction, but let me give you a couple of specific examples of where we are an absolute necessity. First of all, the biggest thing we are needed for is to help clients weave their way through the many dilemmas that plague current market - loan qualifications, appraisals, and renegotiations. Buyers and sellers hire agents that know the process and understand market value so that they don't pay too much or sell too low. And at closing time, unrepresented buyers are at a huge disadvantage. The reality is, if they're in a multiple-offer competition over  a home, sellers and their agents would much rather work with a buyer who is represented by an agent like myself that has a good reputation of closing home sale transactions. In other words, you could be out of the running because you're unrepresented and that shouldn't be a risk you're willing to take on possibly the largest purchase you'll ever make.

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Why Keller Williams Realty? with Marc Guggino

This week we had a guest speaker, Marc Guggino, Qualifying Broker of Keller Williams Realty, discuss our company, some of the reasons why Cheryl switched from Prudential New Mexico Properties to Keller Williams Realty, and even the fun details of his personal history with Cheryl!

Real Estate Search Engines

How does someone typically start the process for buying a home?

With the do-it-yourself trend, Bob, so many people start by looking online. They use real estate search engines like Zillow and Trulia.com. This gets people excited about the process, looking at the available pictures and general information. However, I caution my buyers and sellers that oftentimes the information is not accurate. I have seen prices too high or too low, houses that were sold months ago and still show up as available to buy or rent. It can be very confusing.

 

Why is that? Where do these websites get their information?

Licensed Brokers upload accurate information into the Multiple Listing Service, or MLS, as required by law. Search engines like Trulia and Hotpads.com have limited access to this data, and they offer it for free to people searching for houses. Yet, these sites are really just another way to sell advertisements as they are not monitored for accuracy and are often unreliable. As Brokers, we can’t control what they choose to promote. The MLS is the gold standard, with information updated daily and only accessible by a Realtor. 

So you’re saying that a buyer really needs to look at the MLS?

Absolutely! As a Broker, I make sure that my buyers and sellers are obtaining current and accurate information and offer them expert advice on what is often, for many of us, the biggest financial decision we will ever make.

I gather that searching online can be only an initial step?

I love the online process when it comes to the buyer. I can set up a portal to the MLS for a buyer with a search to their specific preferences, such as the desired area and price range, sent right to your inbox; as new homes come on the market, it will continue to send them listings of homes that fit their criteria. Only an agent can access the real, live information about homes for sale in our area. So call me today and start your home search!

Purchasing Investment Properties

I believe that everyone that possibly can should buy 1-2 rental homes this year as part of their financial plan. Real estate is still one of the number one long term investment strategies that makes sense. Many factors make this the perfect time to invest in real estate for the future.

How does the down turn affect this strategy?

Prices hit the low point, creating an incredible investment opportunity for the investor. As the market stabilizes, values increase, you will benefit from an increase in equity. Many of the banks are accepting short sales (in fact, we recently got two short sales to be approved in less than 4 weeks!), which is taking less than what is owed on properties to avoid foreclosures, resulting in great deals for buyers.

What are some of the factors that make this a good time in your opinion?

Interest rates are still at an all-time low. Sellers are negotiable. You control when you buy or sell so you can buy low and sell high. With a reasonable down payment, your investment can produce cash flow now and into the future. One of my favourite things about rental houses is that the tenant makes the monthly payment for you. As the owner, you benefit from the appreciation and don’t have to make the payment, I think that is a pretty good deal!

Isn’t it more difficult to get financing as an investor?

Many people think that! However, there are still great programs out there for people with a down payment and good credit. If you don’t fit in that category, you can still buy an investment property with owner financing. As I always say, “If you don’t buy now, you’re going to say ‘I wish I had bought then’.”

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Luxury Home Market

In the Greater Albuquerque Area, the luxury real estate market is defined as a home valued at $500,000 and above. Over 4,500 homes are currently for sale in the Greater Albuquerque Areas, and out of that 415 are priced in excess of half a million dollars. This means that the upper end market currently represents just over 9% of the total inventory available. What we report month after month, the 3-5% of all the total sales. The supply and demand in the upper end market, we do still have an over supply.

What does it take to get a home like that sold?

All it takes is a pretty sign, a shiny lockbox, and an MLS listing. Ha ha ha! Just kidding, I only wish it was that easy. Luxury real estate is definitely a niche market. The top 3 things to focus on in the upper end market are as follows:

#1: Work with an experienced luxury home specialist, like myself, of course! Seriously, with over 3,000 Realtors in the area, less than 2% of agents qualify and are invited to be members of an exclusive network of agents that specialize and consistently sell in this price point.

#2: You have to have an aggressive and creative marketing plan, not to mention a sizable investment from the listing agent towards the marketing campaign, to succeed in this competitive price point.

#3: As in all price ranges, but especially in this price point, the price war and beauty contest is absolutely critical and a luxury home specialist can help you determine exactly what the top value is to get your top dollar in this upper end market.

How many have sold over the past year?

Since March 1, 2013, 398 properties have closed above $500,000. A sold sign becomes even more difficult as the price point reaches the million dollar mark. Historically speaking, the 2^nd and 3^rd quarters are the most productive, so if you’re thinking of selling an upper end home, now is the time to do it!

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Top Ten Reasons to Own a Home

“Real Estate segment with our Residential Expert Cheryl Marlow, at Keller Williams Realty!”

Good morning, Cheryl! So today you want to give us some great reasons to own a home, is that right?

Good morning, Bob! Yes, I do! Let me start off by saying that home ownership is an intrinsic part of the American Dream, and it is an amazing feeling to walk through the front door of a home, and know that it’s yours. Not only does owning your own home give you a reason to be proud, but it’s also a great financial move. Purchasing a house is probably one of the largest investments you’ll ever put so much effort and fiscal responsibility into; with time and patience, it reaps great rewards!

What are some of these great rewards?

In my opinion, the top ten reasons to own a home are:

1.   Real estate appreciates in the long term, giving you a good return on your investment.

2.   The alternative is to pay rent, which benefits your landlord and does nothing to improve your finances!

3.   The interest on your mortgage is tax deductible!

4.   In an emergency, you can borrow against your home equity.

5.   A home is a leveraged investment using the bank’s money if you’re financing a mortgage. Who wouldn’t be excited about that?

6.   A home purchased with a fixed rate mortgage has a stable payment schedule that becomes easier to pay over time because of inflation.

7.   Owning a home is a good way to diversify your assets.

8.   Home ownership clear of debt will help you retire comfortably.

9.   Owning a home is still one of the most important steps towards financial success and security!

10. And, of course, you can always change your home by painting, remodeling, landscaping, etc., and the only person that benefits is you!

Great reasons! Is there anything else you’d like to touch on?

Bob, when the real estate market changes, concerns rise about whether or not it makes sense to purchase a home in a particular market environment. With today’s affordable home prices and low interest rates now is a great time to buy your first home or to sell your current home and purchase your dream home!

Home Inspections & Warranties

This morning we have a guest speaker with us today, Mr. Scott Herrmann of ABQ House Detectives and Assurance Home Warranty, filling in for Cheryl Marlow. Good morning, Scott. Can you give us some information on home warranties and how they work?

Good morning, Bob. We have had great success working with many of Cheryl’s clients for several years. As a licensed home inspector, I would advise obtaining a home inspection and warranty, and here’s why. A home inspection is vital to the process of purchasing a home, negotiating repairs, and fully understanding how to take care of your new home.  A home inspection should reveal potential repair items, which, in turn, can save both buyers and sellers thousands of dollars.

Tell me about home warranties.

A home warranty is a one-time annual premium that is renewable, and covers either the repair or replacement of these home system components that often breakdown. It’s simple: when it comes to home warranties, we PREACH. Plumbing, roofs, electrical, appliances, cooling, and heating.

So what kinds of problems do warranty companies run into?

The most common issue is when people assume certain things are covered, when, in fact, they aren’t; or they fail to contact their home warranty company before making repairs. So the lesson to be learned here is that it’s important to read and understand the warranty contract thoroughly in order to ensure that you’re covering all of the bases. You can also contact me directly with any questions!

It certainly sounds like home warranties are important!

They most certainly are! Warranties protect all parties involved in a home sale transaction. They protect buyers and sellers from unexpected expenses that can end up burning holes in their pocket. Because buying a home is such a big investment, and probably one of the most important purchases you’ll ever make, it’s imperative to work with professionals, from your Realtor, to the inspector, to the home warranty company.

Scott, you had mentioned roof coverage.

Well, yes, Bob. Let me forewarn you that I have found home warranty companies out there that provide limited or no roof coverage, but at Assurance Home Warranty, we do cover roofs. At Assurance Home Warranty, we have the highest available coverage, which is just one of the many reasons that, as an inspector, I feel confident they offer our clients the best warranty value. 

Showing Feedback

I wanted to ask you about showing feedback. One of my friends has their townhouse for sale and their agent told them that feedback was not important. They’re in another state, or of course I would have had them list with you! You’re the expert, is feedback important or not? 

This is something that I’ve been discussing with our clients. The answer is both, it is and it isn’t important. Let me explain what I mean. The obvious feedback is that if that particular buyer didn’t make an offer on your house, then you didn’t win the price war and beauty contest in their mind. They found something else that they felt was a better value, and they bought a different home. It could have been many reasons, your floor plan, your neighbourhood, your price compared to the competition. The reasons are as varied as the buyers. At the end of the day, if you aren’t the best priced for the best home, you won’t win that price war and beauty contest.

It sounds like you’re saying no offer is the actual feedback and it doesn’t really matter what they thought of the house if they didn’t buy it.

That may sound harsh, but it’s reality. It’s a challenging situation as Realtors often don’t respond to feedback requests, and yet sellers want to know what they thought. As part of our customer service, we attempt to obtain feedback from every showing. We email the other agent three times and often try to chase them down by phone. In real estate, as in other businesses, 5-10% of the agents are doing 95% of the sales. I’m going to try to get that feedback from the other top agents because they are busy in the field every day and know what the competition is, and my clients appreciate it. If the agent doesn’t respond to three emails, it’s a safe bet their client has no interest.

So I’m officially telling my friends and everyone else that no offer is feedback! Ha ha :)

And I’m officially telling you and everyone else that getting feedback never sold a house! Ha ha :) 

Forecast for 2014

I know everyone is wondering about how the real estate market is going to perform in 2014. Can you give us your predicted forecast?

My real estate crystal ball remains cautiously optimistic for 2014! I predict that we will see the Greater Albuquerque areas continue to slowly stabilize. We will continue to be in a price war and a beauty contest with realistically priced homes selling well. I expect inventory will increase dramatically in the first and second quarters, which may create downward pressure on pricing as supply and demand drives home values either up or down. Overall, 2014 should see a higher number of sales than the previous year. I predicted 2013 to increase over 2012, and the final yearend figures should show an increase of over 1,000 sales. I’m optimistic that we may even experience home value appreciation.

Stabilizing sounds good. What about all of these foreclosures we’re hearing about?

As part of the market stabilization, we expect to see a continued decrease in bank controlled sales in 2014. A bank controlled sale is a home that either is bank owned through a foreclosure action or bank controlled through their willingness to accept a short sale whereby they’re accepting less than the homeowner owes on the property. In 2012, 30-35% of sales were bank controlled. As I predicted last January, the 2013 bank controlled sales dropped to approximately 25% of all sales.

Your crystal ball tends to be really clear! Cheryl, tell us a bit about mortgages and interest rates in 2014.

When historically low interest rates are enjoyed for an extended period of time, the only way to go is up. Interest rates will continue to slowly increase. This is a great motivator to buy now, instead of paying more later! Momentum continues to build in the housing market and there are still many opportunities to take advantage of the past few years of lower home prices and unbelievably affordable interest rates. These favourable conditions will not last.

Overall, you’re prediction is positive?    

                     

Again, I’m cautiously optimistic about the Albuquerque real estate market for 2014. For many reasons, New Mexico is a great place to live and own real estate. Whether you are a seller, a first-time buyer, or a move-up buyer, there are great opportunities in this market to take advantage of. Call me today and let’s get started. 

Potent Pricing

It seems like, for the most part, our market seems to be improving, so how important is pricing? 

You know, pricing is one of the hardest issues to deal with as a Realtor, because, quite frankly, every seller feels like their home is better than the competition, and that it’s worth more. Many potential sellers want to believe that their home is an exception to the real estate market downturn we have experienced since 2008. And I hate to be the bearer of bad news, but the reality is that we are still very much in a “price war” and “beauty contest!” Your home has to be priced extremely well in today’s market conditions in order to be the one to have that SOLD sign put in front of your house.

How many homes are currently available?

There are currently almost 5,000 homes available in the greater Albuquerque area. The absorption rate can vary month to month from 10-20%. In other words, 10-20 homes sell per month of the 100 homes available. This means that 80-90 people out of every 100 who would like to sell their home this month are not going to. Supply and demand drive value and I am encouraged by the improvements in our market. Understanding these numbers clearly these indicates that pricing is still critical! I am here to help sellers protect their equity; I’m not trying to beat them up about their price. At the same time, it is my duty to tell my clients the truth, because in pricing the home accurately, it will sell at a higher price in a reasonable amount of time.

It seems like buyers are still being picky about homes to purchase?

Yes! To see that sold sign in today’s market, you really need to be number one, two, or three in the market in terms of your pricing, as well as how well your home shows. You absolutely have to be the best all-around deal! Buyers are far less emotional in today’s market. For years, a buyer would fall in love with a house that they had to have, and then pay a reasonable price for it. Today’s buyers make a value-based business decision when purchasing a home. An agent like myself, with 27 years of experience and over 3,700 home sales has a different level of insight in understanding both buyers and sellers in today’s market. This is critical in negotiating a win-win home purchase.

Why A Buyer Chooses A Home

I would like to visit with the listeners about why a buyer makes the decision to purchase their next home, the things they desire and missteps by sellers. I think this can be helpful information for both buyers and sellers. If you’re like most people, you probably think that practical issues such as the number of bedrooms or kitchen amenities control the home buying process, correct?

That would make sense, yes!

Nevertheless, this is not the case.  Financial and emotional considerations have taken the lead when buyers view homes. Over 60% of homebuyers say the “feel” of a home is important and 78% place more emphasis on quality rather than square footage. We are seeing that buyers will no longer tolerate purchases of “as-is” properties. In our marketplace, we have recently seen multiple offers  for nice properties simply because buyers don’t want to deal with a lot of “projects.” Remember, we are still in a price war and a beauty contest! Buyers want the best deal on the best house! This doesn’t mean that sellers need to spend a lot to sell their home; there are some tricks to get that necessary first impression on good standing.

What are a few things sellers can do to help showcase their home and make a good first impression?

Every home is unique and with 26 years of experience, I can easily point out the key elements to draw buyers’ attention to the best features of your home. Overall, however, sellers should keep up on curb appeal, even in the winter time. Your yards and driveway free are the first impression they will see upon arrival. De-cluttering your home so that buyers can picture their own belongings in the floorplan as well as keeping dirty laundry and dishes away is definite bonus! If you have time, boiling some cinnamon before a showing is a welcoming scent, and fresh cookies are always appreciated! And last but not least, sellers staying for the showing is a no-no; buyers want to tour the homes with freedom of discussing their options. 

Market Familiarization

What are ways our listeners can familiarize themselves with our current real estate market?

Depending upon your motivation to move, that will change the various ways that you could select how to keep an eye on the market. For example, if you’re looking to move within the next year or two, I offer free monthly market reports delivered straight to your inbox. These will touch base on statistics such as price points and areas selling the best, indicating the strength of the market. You can then make decisions with knowledge of how the market has been and is predicted to be.

What if someone wants to buy within the next couple of months?

Now is the perfect time to buy! Last week I spoke about interest rates, and their potential and likelihood to reach 6% interest. This goes back to your motivation to move or buy a home. For those buyers that have a higher motivation level, we also offer a free, personalized, up-to-the-minute search that you can interact with. This is called a portal, and you can view a slideshow of property pictures, rate how you like properties, and save homes that you’d like to visit within the system. This system will notify you of price improvements/reductions on homes you’re keeping an eye on, and when new listings come on the market. This information is valuable because, as I’ve previously reported on, sites such as Zillow and Trulia are often inaccurate.

After someone has found a home, how is the offer price determined?

A Realtor with experience is extremely valuable in such an important transaction in your life. Part of the reason why that is the case, is that with my 4,000 homes sold, I am an expert on determining the value of a property. Knowledge of the areas in town, which affect value from one street to the next, comparing condition and upgrades, projecting resale potential, and many other factors are taken into consideration when analyzing the value of a home.

Election Affection

What are you seeing in our current market, and how the housing market will be affected by our upcoming primary election?

As we’ve seen in the past, interest rates will likely rise after the election this year, no matter which party is instated. Right now, the housing market is a buyer’s paradise. In virtually every major city in the United States, it’s now less expensive to buy a home than rent one. I quote, “Washington and the housing market are never far apart. Experts ranging from real estate professionals to the members of the Federal Reserve have reported that the state of the nation’s economic recovery relies heavily on a housing recovery.”

As you’ve been reporting, Albuquerque seems to be experiencing positive momentum.

We are experiencing positive momentum and I predict that we will continue that positive trend, with activity slowing after the election. In election years, we don’t typically see as intense of a seasonal slowdown until the dust settles. November, December, and January will be slower, however it is still a great time to sell as there is less competition during these months.

How big of an impact do interest rates play?

A raise in interest rates affects affordability; so if you wait, you may spend the same money for less house. Here are some surprising numbers: at today’s rates of 3.5% on a $250,000 mortgage, your principal and interest would only be $1,122. If rates increase by only ½ of a percent, that payment is $1,193, and a 1% increase to 4.5%, which is still low, would be $1,266. That is $144 more than today’s cost based on only a 1% increase, not to mention the long-term cost of a higher interest rate, and the equity building advantage of a lower rate.

3.5% interest is definitely a reason to buy now!

Bingo! Now is the perfect time to look at obtaining your dream home!

82 Villacitos Rd Tijera

Do-It-Yourself Homebuying

11700 Beringer in Sauvignon

Can you tell us why it's not a good idea to buy a home without using a Realtor?

Absolutely! Buying without using a Realtor can definitely be a risky choice. A buyer might think that they're making a smart financial decision in trying to cut expenses by not enlisting the aid of an expert in the real estate industry, but in reality, they could be making exactly the opposite.

Why should buyers elicit the help of a Realtor?

It's simple. Realtors, like myself, are experts in their profession! Buyers who try to represent themselves in a real estate transaction may have knowledge based on previous experience with buying or selling, or reading some real estate know-how books; Realtors, however, live and breathe real estate. And while books are great (I, myself, read up constantly), they don't represent all of the complex rigors and rules of our current housing market. It's our job to know all of the ins and outs of every real estate transaction, as well as to make all aspects of the sale as smooth and swift as possible.

Can you give us some examples of times when a Realtor is a necessity in a real estate transaction?

Though I believe a Realtor is necessary through every step, let me provide those examples. First of all, the biggest thing we are needed for is to help clients weave their way through the many dilemmas that plague current market-loan qualifications, appraisals, and renegotiations. Second, buyers and sellers hire agents that know the process and understand market value so that they don't pay too much or sell too low. When it's your life or your money, you need to hire the absolute best professional with the most experience available. The skills required to succeed at a high level are no different from the skills that you would expect a great doctor to have when caring for you. you would never knowingly go to a doctor for surgery who you knew only did three operation a year. As a buyer or seller, would you consider selecting a real estate agent that is not as skillful as the best doctor?

Tips for Homebuyers

Whether you are a single home buyer or a family, there are probably few things in life that are as exciting - or nerve-racking - as looking for a home. If one has organized a home buying plan, one can minimize a great deal of the emotional impact. By determining your buying bower, your wants and needs, and have an organized search plan, your chances of a stress-free experience are much better.

What is one of the most important factors in utilizing organization?

A mortgage pre-qualification is the second step after calling me. This will not only give you an exact price range, a pre-approval will add a great deal of strength to an offer you present. We have several quality lenders we work with to obtain the best loan programs personalized for our buyers' needs.

How about finding the "perfect" home?

I hear about this, and having sold over 3,000 homes, I can tell you there is not a perfect home. There are many people that make the mistake of thinking that they will, if they look around long enough, find a home that has 100% of their needs and wants. Determine the most important of your needs, and the most desired of your wants, and select a home that meets the majority of them. Ideally, if you can find 80-85% of your requirements, you should jump on it before someone else does.

Any other tips for home buyers?

An important thing for single individuals: don't over-buy the first time. A large and beautiful home with little or no furniture tends to be empty and cold. A life where almost every dime of your earnings goes to the support of your home wears thin very quickly and is a frequent cause of stress. Also, certain types of homes may possibly appeal a bit more to some single home buyers, such as townhomes and condominiums that help with maintenance, are a good place to start. 96% of people start their search online, and many internet sites offer inaccurate housing information. Our team offers a competitive edge to this with completely accurate information, and a personalized, professional search sent straight to your inbox!