BUYERS AND SELLERS INFORMATION
Over the past several months, how many different opinions have you heard about the conditions of the current real estate market? We have been inundated by the expertise and predictions of every financial talk show host in the United States. While these individuals are extremely knowledgeable and are highly regarded, I believe they have missed the mark by treating residential homes as if they were stocks and bonds. While stocks and bonds are bought and sold every day, statistics show that the average ownership period of a single-family home is 7 years. History shows us that while there have been fluctuations year to year, the overall trend has been that of a generous appreciation rate.
Everyone's needs and desires vary, and I want to give you the best guidance I possibly can. Contact me for a confidential evaluation so together we can formulate a plan of action specific to your requirements.
I will provide you with the following services:
* Real-time market conditions.
* The benefit of my 35 years experience in the industry.
* The support you will need guiding you through the complexities of the process.
* Time management.
* Unmatched commitment. My priorities are simple - they're yours.
Just for Buyers:
The purchase of a home is an exciting and rewarding experience. A home represents comfort and security as well as an investment in your future and as your Buyer's Agent I will take this responsibility seriously and give you my best guidance. Here are just a few steps I will be taking along the way:
* Consult with you regarding your financial needs. It's important to get pre-approved by a lender when establishing a budget for your purchase. There are a lot of solid mortgage resources I can share with you.
* Save you time by listening to what is important to you in a home and tailoring a comprehensive internet search file for you. When new properties come on the market, they will be instantaneously sent to you for your review.
* Preview new listings in order to give you in-depth details that may not be recognizable from virtual tours and online images.
* Set up appoinments efficiently in order to accomplish as much as possible during your home visits.
* Review solid comparables for homes that seriously interest you. Reviewing the sales history of similar properties will give you a strong measure of confidence in your buying decision.
* Supply you with lists of highly-recommended contacts such as home inspectors, attorneys, contractors, painters, and other home-improvement and local contacts.
* Guide you through the negotiation process.
* Stay in close communication with all parties involved in the transaction through the closing.
* Be available to you well after the closing for any advice or contact information. It's always my pleasure to "stay in touch."
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Rent versus Buy:
There are a number of factors for each scenario, so let's sit down and review them together. Here are a couple of thoughts:
Purchase:
* Provides a security and pride of ownership.
* Builds a strong basis for your future financial goals.
* Allows you to improve the property without requiring someone else's permission.
* Gives you "roots" in a community.
* Enjoy the tax benefits owning provides.
Rent:
* Allows you to experience a community before making a long-term commitment to it.
* Creates an opportunity to be flexible in your housing.
* Live comfortably while hopefully saving money for future investments.
* In some cases we can structure a "Lease/Purchase" or "Rent With The Option to Purchase" transaction.
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What if my Credit is Bad?
There are a number of good resources for restoring good credit. Let's go over them together.
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Investment Property and the 1031 Exchange
Residential and commercial real estate can be excellent investments. I have sold a great number of properties which have proven to be solid investments and in many cases I manage them on behalf of the owners.
A 1031 Exchange, also known as a Like-Kind Exchange, is a way of structuring a sale of certain kinds of property so the seller's profit or gain is not currently taxed. Instead, the property that is sold is replaced with another "like kind" property. If the transaction is properly structured, the seller's profit or gain is deferred to a future date.
There are three major IRS rules:
1. The total purchase price of the replacement "like kind" property must be equal to, or greater than the total net sales price of the relinquished property.
2. All the equity received from the sale of the relinquished property must be used to acquire the replacement "like kind" property.
3. There are timelines for identifying and closing on the replacement property.
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What is a Home Warranty?
A home warranty can be purchased by either a Buyer or by a Seller on behalf of their Buyer. The warranty protects you from unexpected home repairs resulting from the mechanical breakdown of covered major systems and appliances. The coverage saves you money by reducing the out-of-pocket costs for covered repairs. Generally a home warranty covers the Buyer for one year from the date of the closing.
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8 Reasons to Buy a home now
* Interest rates remain at historically-low rates.
* Take advantage of the tax benefits of ownership.
* Build equity over time.
* Great selection of properties offered in today's market.
* Enjoy the security, privacy and freedom that home ownership provides.
* More house for your money - your dream house may be within reach!
* Upgrade the amenities and space you currently have.
* Be in your new home in time to enjoy upcoming community events.
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The Home Inspection
When you have made the decision on a purchase, it is prudent to ask a qualified home inspector to inspect the home on your behalf. The inspector will spend time at the house with you and provide you with both his professional opinion about the condition of the house as well as supply a thorough written report. It is important to know what deficiencies may exist, but equally important to understand the mechanical components, so you can take care of the house properly over time.
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Just for Sellers:
You are thinking about selling your home. Don't be overwhelmed. Just contact me, and I'll be there for you to guide you through the process. According to the National Association of Realtors, over 80% of homebuyers begin their home search on the internet. My aim is to present your home in the best light in order to set a positive tone before a buyer ever arrives at the door.
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The Market Analysis (CMA)
A Competive Market Analysis is a comprehensive report comparing your home to other properties that are on the market, under contract awaiting closing and sold in your area. After making an initial visit to your home, I will complete this analysis and review it with you. It will provide you with the necessary information you will need to make intelligent decisions about how you want me to handle the marketing of your property.
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Staging Your Home
In order to successfully market your home, I want to emphasize the importance of making a positive first impression. This begins with the curb appeal. I will personally critique all aspects of setting the stage for maximizing the appeal of every room and area of your home.
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Especially for Senior Citizens
As a SRES (Seniors Real Estate Specialist), I have been trained to recognize and handle the needs of seniors and their real estate (this includes all The Baby Boomers as well)!
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8 Reasons A House Doesn't Sell:
* Price
* Condition
* Location
* Notariety
* Terms
* Marketplace
* Availability
* Agency and the Agent
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Investment Properties and the 1031 Exchange.
If you are planning on selling an investment property, let's go over the 1031 Exchange:
A 1031 Exchange, also known as a Like-Kind Exchange, is a way of structuring a sale of certain kinds of property so the seller's profit or gain is not currently taxed. Instead, the property that is sold is replaced with another "like kind" property. If the transaction is properly structured, the seller's profit or gain is deferred to a future date.
There are three major IRS rules:
1. The total purchase price of the replacement "like kind" property must be equal to, or greater than the total net sales price of the relinquished property.
2. All the equity received from the sale of the relinquished property must be used to acquire the replacement "like kind" property.
3. There are timelines for identifying and closing on the replacement property.
Contact me and we can go over the specifics of a 1031 Exchange.
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Reverse Mortgages
A reverse mortgage is a special type of home loan that allows a homeowner to convert a portion of their equity into cash. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower no longer uses the home as his/her principal residence. The cash you get from a reverse mortgage can be paid to you in several ways including:
* all at once in a lump sum;
* as a regular monthly cash advance;
* as a credit line that lets you decide when and how much of your available cash is paid to you or
* as a combination of these methods.
There are pros and cons to this concept. Contact me and we can go over them together.
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What is a Home Warranty:A home warranty can be purchased by either a Seller on behalf of their Buyers, or by the Buyers themselves after the closing. The warranty protects you from unexpected home repairs resulting from the mechanical breakdown of covered major systems and appliances. The coverage saves you money by reducing the out-of-pocket costs for covered repairs. A Seller can purchase the warranty upon listing their property for sale. The coverage extends not only through the listing period of the property until the closing, but for one year from the time of the closing on behalf of the new owner. It can give real piece of mind and is a nice added incentive to the sale of your home.
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Short Sales/Foreclosures
If the owner of his primary residence can no longer afford to keep mortgage payments current and the debt is higher than the value of the property, an alternative to bankruptcy or foreclosure is called a "short sale." If a lender agrees to a short sale, it means the lender will consider accepting less than the total amount due. I have experience in handling short sales in real estate and will go over the details of how the process can work for you to preserve your credit-worthiness, avoid foreclosure and enable you to purchase a home in the future.
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