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Barb Powell Presents – First Home Purchasing Tips

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First Home Purchasing Tips/By Sam J Loeb

Purchasing a first home is to most a quite stressful and intimidating event, while also being one of the most significant decisions you are likely to make in your life. With all that is involved, from searching properties, mortgage application to negotiating a price, it is essential to take whole process of purchasing a property in a controlled and orderly manner. Here are some of the steps to following when purchasing any property –

Take along a Family Member or Relative – Buying a property is quite a confusing and drawn out process, even if you have already attempted to educate yourself as much as possible. If an appointment has been made to view a property, it often pays to have with you a trusted relative or friend who you can rely on to give you an objective opinion throughout the viewing process. It might also benefit if you can call on someone who has recently been through the process of purchasing a property or dealing with estate agents. At times our own opinion might be clouded by emotions, so it always helps to have a second, more rational opinion to guide you along. Also, someone else’s viewpoint might be able to highlight the negative points of a property, which you would’ve otherwise missed.

Use a Trusted Real Estate Agent – A well-qualified estate agent that you feel entirely comfortable with is an essential piece of purchasing a first property. It is always worthwhile visiting several different local agents to find someone you are happy to work with. Some of the main qualities to expect with an agent are honesty, experience, and a keen knowledge of the local housing market. The right agent should be able to advice you through each stage of purchasing a property, which will ensure you find the perfect house for you and your family.

Don’t Rush a House Purchase – Most first-time home buyers often require several month of searching different types of properties before deciding on the right home to live in for the long-term. Purchasing something as significant as a new home isn’t something that should be rushed, which in a worst case situation might leave you with a home that isn’t quite right for your circumstance or where you don’t quite feel as comfortable as you should. It always helps to have several properties lined up to view, which can give you a broader view of what is on offer. It might help to look at a range of properties, such as town houses, flats, condos, bungalows, etc. to see the different floor plans and layouts available and see what looks most promising for your needs. After viewing a varied mix of properties, you will be in a better place to make an informed and wise decision.

See more information on trusted and reliable Real estate Melbourne specialists to ensure you get the best outcome in your property search.

Article Source: http://EzineArticles.com/?expert=Sam_J_Loeb

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Barb Powell, Realtor

Office: 419-782-8216
Cell: 419-769-2135
Fax: 419 782-0989
VM: 419-782-0978 ext. 136
barbpowell@wellesbowen.com

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Kam Warner With Another Real Estate Update

How do Real Estate Agents Get Paid?

By Kay McArdle/kaymcardle.com

Generally the public doesn’t know just how our business works and exactly how we do get paid. And I think sometimes people think we make a lot of money for a little work. I myself was surprised when I became an agent nine years ago with how hard we all work 24/7 and how many expenses we have as independent contractors. But, I love being a real estate agent helping people find a wonderful place to live and like most other agents, wouldn’t trade the job for any other.
So let me take a step back and explain just how we are employed. After taking a number of state required real estate courses, we sign agreements to work with a real estate company as an independent contractor ….not as an employee. We are not paid hourly to show clients homes, do open houses, stay up-to-date on current law and practices through required continuing education or to stay on top of market values and trends. Which we all happily do because this makes us more successful. But, we are only paid if we are part of a closed real estate transaction.
Typically, the seller pays the commission and the buyer has no direct cost for their agent’s services and representation. The commission is then split 4 ways between the 2 real estate companies and the 2 agents involved in the sale. It isn’t an equal 4 way split, but generally the listing side retains more of the commission and each agent will have a certain split with their company dependant upon their productivity and company policies.
The seller commission is negotiable, but the services that will be included in the listing may vary greatly. The marketing may only include listing the home on the local MLS or it may provide a video tour, syndication to multiple real estate websites, be featured in an agent blog and Facebook page, be listed in local print media and have the agent hold Open Houses. Agents and their companies have may also have good systems in place to make sure all inquiries about the home are handled promptly and that the transaction from negotiations through inspections and closing are handled smoothly for the client. The co-broke, which is the part of the commission that goes to the agent and broker representing the buyer, can vary and does serve as an incentive for other agents to show the home. Agents can differ on how and how frequently they communicate with clients with showing feedback; on market changes and trends; updates on new comparable listings; homes going into pending status and sales; and suggestions to continue to prepare the home to make it more appealing and marketable.
From the commission earned from a transaction, agents are responsible for a number of small business owner costs:
Car related expenses
Marketing and Advertising
Errors and Omissions Insurance
Multiple Listing Dues
State of Ohio Realtor Licensing Fees
Website Maintenance Costs
Accounting Fees
As one agent in our company says, we are one of the few professions that work with the hope of getting paid. Although Welles Bowen doesn’t often use Buyer Agent Contracts which guarantee a certain commission to the buyer’s agent, we do so appreciate when clients work exclusively with us and not hop from agent to agent.

Kay McArdle, Realtor

Office: 419-535-0011
Cell: 419-654-0059
Fax: 419 535-7571
VM: 419-539-2700 ext. 102
kaymcardle@wellesbowen.com

You can find Kay’s website by clicking here.

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6 Reasons to Reduce Your Home Price from Susie Thomas

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While you’d like to get the best price for your home, consider our six reasons to reduce your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

By: G. M. Filisko Published: March 19, 2010

Susie Thomas, Realtor

Office: 419-535-0011
Cell: 419-367-3974
Fax: 419 535-7571
VM: 419-539-2700 ext. 135
susiethomas@wellesbowen.com

You can find Susie’s website by clicking here.

 

 

More from HouseLogic

How to ready your home for sale at little cost

How to review offers on your home

Other web resources

More on setting the right price

G.M. Filisko is an attorney and award-winning writer who made strategic price reductions that led to the sale of a Wisconsin property. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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Featured Agent Linda Collins Shared This Article- Six More Weeks of Winter?

Punxsutawney Phil predicts six more weeks of what we laughingly call winter.

Punxsutawney Phil, the world’s most famous weather-rodent, weighed in this morning and forecasts six more weeks of winter.

What’s that groundhog smoking? Many parts of the country haven’t had six weeks of real winter yet. My daffodils already are sprouting — a month ahead of Virginia’s usual spring.

On the off-chance that old Phil is correct — he’s right about 39% of the time — here are some ways you can still button up your home for six more weeks of this freaky winter with these home repair tips:

Caulk air-leaking cracks around windows and doors.

Clean or replace furnace filters.

Clear gutters of debris to prevent ice buildup.

Gas up snow blowers in case of a big storm. (Like that’s going to happen.)

If you’re still enjoying April weather in February, don’t forget to water your garden. This heat is confusing it, too.

Do you believe Phil and think we’ve got six more weeks of winter?

By: Lisa Kaplan Gordon
Published: February 2, 2012

Lynda Collins Welles Bowen Realtors

Lynda Collins, Realtor

Lynda Collins, Realtor
Office: 419-535-0011
Fax: 419 535-7571
VM: 419-539-2700 ext. 189
lcollins@realtyagent.com

You can find Lynda’s website by clicking here.

Buying or Selling? Should You Use the Assistance of a Realtor®?

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Image via Wikipedia

Written by Mary Ann Coleman, Manager Welles Bowen Realtors Oregon Office

Today’s real estate market is a challenge for even the most experienced home buyer or seller. The rules change almost daily and if you are not in the know you might find yourself in trouble. A real estate transaction has so many sides and facets than unless you spend 24/7 keeping yourself updated on the nuances of a deal you will not get the best bang for your buck. That’s where the expertise and experience of that extra hand of a Realtor® can be invaluable.

For the home seller a Realtor® will…….

 

  • Help you establish a reasonable starting price to attract the most number of buyers. Overpricing only slows the process and it indicates to the savvy buyer that you are not realistic and will be difficult to deal with when the time comes.
  • Give you advice on how to best stage your home to keep the buyer interested. Remember you only have a few minutes to make that best first impression and it really does count.
  • Know how best to promote your home and where that promotion should be placed. For most homes that means getting your house placed on as many internet sites as possible. Just by virtue of having your home on the local Realtor® Multiple Listing Service sends it out to many other sites, but your Realtor® will do more than even that to get your information out.
  • Help you make informed decisions when you are negotiating an offer to purchase by providing you with accurate information on costs and offering advice on the give and take of an offer.
  • Navigate you through the process to the closing table by keeping an eye on the details including keeping in touch with the buyer’s lender, making sure the title work is reviewed, watching that all appropriate costs are on the closing statement and no additional charges are applied and most important keeping you informed.

 

For the home buyer a Realtor® will…….

 

  • Make sure you know your buying potential by assisting you in getting a pre-approval from a reputable lender who offers the best choice of options for your financial situation. Remember your Realtor® has established good working relationships with many lenders and he/she knows who might work best with you.
  • Provide you with information on all the properties that suit your criteria. With the advanced software your Realtor® uses to search for houses it is easy to locate suitable properties and those listings can be sent to you as soon as they hit the market.
  • Provide you with objective information about any properties you might have an interest. Having that extra information can help take some of the emotion out of the deal and prevent you from making a poor choice.
  • Help you present a reasonable offer that will result in the best terms for you. Your Realtor® will, along with your lender, make sure you understand the actual costs that you will incur so you are better prepared to make your choice.
  • Walk you through the inspection process assuring you know what the condition of the property is and what you might expect in future maintenance costs. Your Realtor® will guide you on how best to ask for repairs from the seller, helping you determine what is reasonable and what is not reasonable.
  • Keep track of your transaction, making sure all the necessary steps are followed to get you to the closing table successfully.

 

There is so much more that a Realtor® brings to the table. These are only a few examples, but I assure you that your buy or sell will go so much smoother if you use the services of an established agent. The best part is that you will have a friend for life! Have a fun transaction!

 

Mary Ann Coleman

Mary Ann Coleman, Manager Welles Bowen Oregon

Mary Ann Coleman, Realtor, Manager

Office: 419-698-5370
Cell: 419-343-5348
Fax: 419 754-1408
VM: 419-754-1405 ext. 100
maryanncoleman@wellesbowen.com

You can find Mary Ann’s website by clicking here.

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ABOUT WELLES BOWEN REALTORS For over 100 years, Welles Bowen Realtors has been consistent in its ability to recruit and retain many of Toledo and NW Ohio’s top agents. While much of our agents’ success can be attributed to individual initiative, an equally large measure is due to the strength and support Welles Bowen provides. From educational opportunities to the latest in marketing technology, ...
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The IDX Data on this site was last updated on Feb 22 2015 6:00AM Eastern Standard Time. All Information is deemed reliable but not guaranteed. The data is updated on a daily basis. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. For the most current information, contact Welles Bowen Realtors at 1-800-533-7692 or email us at mail@wellesbowen.com. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NORIS MLS. Real estate listings held by brokerage firms other than Welles Bowen Realtors are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © Copyright 2015 NORIS. All rights reserved. Broker Reciprocity information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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