Home

Archive

Admin Login

 COLDWELL BANKER INTRODUCES INTERNATIONAL HOME SEARCH FOR iPhone and Blackberry

COLDWELL BANKER INTRODUCES INTERNATIONAL HOME SEARCH FOR iPHONE AND BLACKBERRY

Listings in 28 Countries Now Available on Mobile Devices

PARSIPPANY, N.J. Jan. 6, 2009 – Coldwell Banker Real Estate LLC announced today that international Coldwell Banker^® real estate listings in 28 countries including Canada, Australia, Mexico, Italy, Aruba, and Colombia will now be accessible via a customized platform for iPhone^TM and BlackBerry^® users.

 When viewed on an iPhone, BlackBerry or other smartphone the Coldwell Banker flagship Web site, coldwellbanker.com has a different look and feel, along with navigation specifically tailored for optimal viewing the mobile device.  This includes property listings search and home value estimator functions.  When a user accesses the site through his or her handset, the Coldwell Banker Web site automatically recognizes that it is being accessed by a mobile device and will serve up that specialized interface.  Users do not need to download any special software to benefit from this enhancement to the Coldwell Banker mobile technology.

 Now consumers in the home buying and selling process can easily search both domestically and internationally using their mobile devices,said Michael Fischer, senior vice president of marketing for Coldwell Banker Real Estate LLC. Coldwell Banker will continue to find ways to blaze a trail with technology that provides consumers with listings anytime, anywhere.

 Those looking for a home both domestically and internationally will be able to search for homes and utilize the brands home value estimator.In addition, consumers will be able to enter specific search criteria such as city, state, price as well as optional filters including number of bedrooms and bathrooms.  When a property is selected, users can view all of the specifications for that home and contact an agent directly.

 For photos visit: http://www.flickr.com/photos/30794625@N05/sets/72157612203017008/

 iPhone is a registered trademark of Apple Computers, Inc.

 BlackBerry®, RIM®, Research In Motion®, SureType® and related trademarks, names and logos are the property of Research In Motion Limited and are registered and/or used in the U.S. and countries around the world. Used  under license from Research In Motion Limited.

 

About Coldwell Banker^®

Since 1906, the Coldwell Banker^® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,700 residential real estate offices and 108,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International^® division. It is a pioneer in consumer services with its Coldwell Banker Concierge^® Service Program and award-winning Web site, www.coldwellbanker.com Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker^® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

 Recent Quotes & Excerpts about the Positive Signs in the Real Estate Market:

Recent Quotes & Excerpts about the Positive Signs in the Real Estate Market:

 

 

Pending Home Sales Jump to Highest Level Since July 2007

 

Pending sales of existing homes unexpectedly jumped in August to the highest level in more than a year. The National Association of REALTORS^® Pending Home Sales Index, based on contracts signed in June, rose 7.4% in August. The August reading was 8.8% higher than a year earlier, and the highest level since June 2007. Home sales are considered pending when the seller has accepted an offer, but the deal has not yet closed. Sales are picking up in places that have seen the most severe declines in housing prices — including California, Florida Nevada and Arizona, plus Rhode Island and the Washington, D.C. area.

 

 

 

-- “Pending Home Sales up 7.4% in August,” Today, Oct. 8, 2008.

 

 

Mortgage Rates Continue to Drop; Applications Rise

 

Fixed mortgage rates fell in the latest week, according to Bankrate Inc.'s survey released (October 9). The average conforming 30-year fixed mortgage rate dropped to 6.20% from 6.41% a week ago, while the average 15-year fixed mortgage rate declined to 5.95% from 6.14% a week earlier.  “From the standpoint of a homebuyer, interest rates aren't in any way a barrier.”

 

 

-- Greg McBride, senior financial analyst at Bankrate.com. “Lower Mortgage Rates May Be Silver Lining in Turmoil,” by Jeff Plungis and Alexis Leondis, Bloomberg, Oct. 9, 2008.

 

 

Interest rates on fixed-rate mortgages decreased last week, and mortgage seekers took advantage: Applications filed for mortgages rose a seasonally adjusted 2.2% compared with the week before, according to the Mortgage Bankers Association. Applications for mortgages to purchase homes rose a seasonally adjusted 3.2% on a week-to-week basis, while refinance applications increased 0.9%.

 

 

-- “Mortgage Applications up 2.2% Last Week,” by Amy Hoak, MarketWatch.com, Oct. 8, 2008.

 

 

Regional Update: Good News from Markets around the Nation

 

 

Orlando, Fla.

 

Orlando area Realtors sold 1,335 homes in September, up 37.6% from the same month a year ago. The median sales price of the homes sold in September rose by 5% to $210,000 from August's revised $200,000 median, according to an Orlando Regional Realtor Association report.

 

 

-- “Number of Existing Home Sales Rise in Orlando Area,” by Jerry W. Jackson, Orlando Sentinel,
Oct. 9, 2008.

 

 

 

Denver

 

Last month provided some encouraging signs for the Denver housing market, according to a monthly report released by Coldwell Banker Residential Brokerage. Home sales in the Denver metro area rose 14.1% last month in comparison to September 2007. Also, the inventory of unsold homes and sale prices for homes in September dropped compared to the same time last year. “People are realizing there are some great deals right now and they are acting on it.”

 

 

-- Greg Zadel, president of the Colorado Association for Real Estate Brokers, “Local Sales Up, Inventory Down, According to Report,” Denver Daily News, Oct. 9, 2008.

 

 

Myrtle Beach, S.C.

 

A new report released Wednesday showed the number of homes with accepted offers jumped by more than 7% in August to the highest level in a year. “We are seeing property that’s actually getting multiple offers, if you can believe that or not. We’re seeing properties sold as much as full-price and some properties sold for higher than their list price. We are at historical interest rate lows, we have ample inventory on the market right now and this inventory has been reduced to a level that the buyers can take advantage of this and really save a lot of money.”   

 

 

-- Rod Smith, director of a Myrtle Beach, S.C. brokerage, “Is the Housing Market Turning Around?,” by Michelle Corrolla, WBTW-TV, Oct. 9, 2008.

 

 

Tulsa, Okla.

 

“I think we’re in a normal market right now. There are a lot (of houses) on the market, but the houses are selling. The average sale price of homes in the Tulsa area has actually increased.”

 

 

-- Harriett Dunham, owner of a Tulsa-area brokerage, “Hope for Home Ownership,” by Sommer Woodward, Pryor Daily Times, Oct. 6, 2008.

 

 

New Haven, Conn.

 

Good job, good credit, no problem! Consumers who want to buy a car or a house should be able to get a loan, as long as they have a job and a good credit score, say those whose livelihood depends on a vibrant credit market. “For people going for conventional financing or FHA financing, there’s plenty of opportunity. I think just the whole economic climate right now is affecting people’s attitudes, but there’s still mortgage money out there.”

 

 

-- Marc Seigel, president of the Greater New Haven Board of Realtors^®, “Credit-Worthy Borrowers OK,” by Ed Stannard, New Haven Register, Oct. 5, 2008.

 

 COLDWELL BANKER® LAUNCHES NATIONAL 10-DAY SALES EVENT

Thousands of U.S. Home Sellers Will Reduce Their Listing Prices By Up to 10 Percent
Between Oct. 10-19

 Majority of Coldwell Banker Sales Associates Surveyed Say a Modest Reduction in Listing Prices Will Help Bring More Home Buyers and Sellers Together

 PARSIPPANY, N.J. (Oct. 6, 2008) Coldwell Banker Real Estate LLC today announced a bold initiative to bring home buyers and sellers together and help jump-start the U.S. real estate market.  Starting on October 10, 2008, the nation’s oldest residential real estate brand will kick-off its first-ever national “10-Day Sales Event†– during which participating home sellers from across the United States will reduce the listing prices of their homes by up to 10 percent.  The Coldwell Banker^® 10-Day Sales Event will run nationally through October 19, 2008.

 

“Despite the difficult headlines regarding our overall economy, the residential real estate market has been showing several positive signs over recent months that could be signaling a tipping point,†said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC.  “Because of higher inventory, buyers have more homes to choose from and they can take advantage of near historically low interest rates and affordability levels that are the best they have been in years.  The recent housing and economic recovery legislation also provides first-time homebuyers with the added incentive of a $7,500 tax credit.[1]

 

“Yet our research and discussions with our brokers and sales associates shows that in many markets sellers remain reluctant to list their homes at the proper prices necessary to attract buyers,†continued Gillespie.  â€œIt’s our hope that the Coldwell Banker 10-Day Sales Event will move buyers off the sidelines and into the market.  We are embarking on this initiative – which has never been done before on a national basis – because we believe it is critical for Coldwell Banker, as an industry leader, to help serve the needs of those individuals listing homes with a Coldwell Banker broker and to help move the U.S. real estate market in the right direction.â€

 

In a recent survey of 3,379 Coldwell Banker real estate professionals in markets across the United States, 56 percent said that listing prices in their market remain above where they need to be to attract qualified buyers.  Additional findings from the survey include:

 

• 77 percent agreed that the majority of sellers in their market still have unrealistic expectations regarding the initial listing price for their homes
• 79 percent agreed that homes in their market that are priced appropriately are attracting more buyers and moving more quickly
• 76 percent feel that a 10 percent or less reduction in listing prices in their area is all it will take to help push these homes over the “tipping point†to a sale

 

“Our brokers and sales associates agreed that, even in the current climate, it will not take much movement to attract those buyers who have been watching and waiting,†noted Gillespie.  â€œDepending on the market, a price reduction of just 10 percent or less just may make the difference in both satisfying sellers and bringing buyers to the table.â€

 

Sellers participating in the 10-Day Sales Event will have added promotional power from the Coldwell Banker brand behind their listing.  Those sellers’ listings will be specially promoted through national and local radio, print and Web advertising. The brand’s flagship Web site coldwellbanker.com will feature participating listings. Home sellers will have the option to maintain the reduced listing price for their properties following the 10-Day Sales Event.Â

 

More information on the 10-Day Sales Event is available at the Coldwell Banker national Web site www.coldwellbanker.com/event.

 

[1] Consult your attorney and tax preparer for terms, availability and eligibility and requirements.

 

About Coldwell Banker^®

Since 1906, the Coldwell Banker^® organization has been a premier full-service real estate provider. In 2007, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the eighth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,600 residential real estate offices and 110,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International^® division. It is a pioneer in consumer services with its Coldwell Banker Concierge^® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker^® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

 

 

 How much have investors lost due to the market bust?

The Long View
by Lawrence Yun, Vice President, NAR Research

“How much have real estate investors lost due to the housing market bust?”

That was the (highly loaded) question posed to me recently by a producer of one of the major evening news programs. The show wanted to run a story about the "pains" being felt in the market.

Hmm. Well, exactly how much real pain are we talking about? Let's look at a couple of examples. An investor who bought a property in Las Vegas five years ago would be ahead by $150,000; up $200,000 in Miami. The average investor nationwide – up $54,000. Only the recent buyers (flippers) who bought last year in few specific markets would have encountered a loss.

Not All Losses Are Created Equal
I’m not discounting the discomfort of those who lost big, especially lenders and hedge funds who had large exposures to subprime loans. Investors in homebuilder stocks have certainly experienced pains. But nearly all real estate investors who have a reasonable holding period are doing quite fine. Some of these fortunate buyers who got into the market several years ago will still consider a modest give back as a loss without considering the large gains reaped during the housing boom. That’s the nature of the human mind. A gain of $190,000 in Miami feels like a $10,000 loss considering that the gain had been $200,000.

A Home is Not a Stock Certificate -- Thank God!
Foreclosures are rising and construction workers are being laid off. REALTORS^® are feeling the pinch as well. The median income of a typical REALTOR^® has been falling due to the correction in sales transactions. However, consumers and homeowners who are in it for the long-term are once again coming out well ahead.

Because of the power of leveraging, $10,000 used for a down payment on a typically priced home in the United States at a typical appreciation rate of 5 percent will return $110,000 after 10 years. The same $10,000 invested in the stock market appreciating 10 percent annually will result in $23,600. No wonder the data from the Federal Reserve show consistent results year-after-year of the staggering difference in net worth between homeowners and renters. A typical homeowner had $184,400 in net worth versus only $4,000 for a typical renter.

The Spooky Thing
The lack of buyer confidence to enter the market has been the one principal reason in holding back home sales. Many would-be buyers are spooked of a possible home price decline. And the media is fueling that fear. Some of the most popular market gurus who offer their advice on television and other media say so. Caution is in order, however. As a recent Barron’s article pointed out, stock picks made by one such expert actually underperformed the market.

Opportunities to Seize
It’s also important to point out that times of crisis often turn out to have been times of opportunity in hindsight. With over four million net new job additions in the past two years– the time frame during which home sales have steadily fallen – a significant pent-up demand has developed. Home sales and home prices will be higher in 2008 compared to 2007. And, as with any investment, look longer term. Those investing in a home and keeping it for a typical holding period of six to ten years will likely see their investment pay off; those homes will have been a good investment.

As for stocks, they are not the enemy of real estate. Many REALTORS^® own stocks. (So do many economists!) The latest NAR research on vacation-home buyers reveals that many of them rely on stock market wealth to fund that second-home purchase. Stocks and real estate both promote the importance of private ownership.

Where to Throw the Darts
Of course, with housing figures down, all eyes at looking to the stock market. Indeed, the stock market is at an all-time high. That's terrific in and of itself and reflects confidence in the U.S. economic outlook. Just be careful about taking specific advice from any hyper-emotional TV personality. Darts should not be thrown at publicity posters of any "mad money" host. You’ll likely have just as good of luck by reining in your emotions (and money) and throwing them randomly on the financial pages of your newspaper for your next stock pickings.

 Play it safe when selling

Aug. 29, 2007 —distributed by Texas Association of REALTORS®

Play it safe when selling

While your home is on the market, you’re probably focused on finding a buyer and getting the highest possible sales price. Unfortunately, you should also keep your personal safety in mind. While crimes at properties for sale are rare, they do occur.

The National Association of Realtors is sponsoring its annual Realtor Safety Week Sept. 9-15 to help its members stay safe on the job. As a homeowner, you should also take steps to increase your safety while your home is for sale.

Protect your valuables

If you have expensive jewelry, small electronics, lots of cash, or other valuable items that could be stolen from your home, temporarily move them to another location— perhaps a safe deposit box or the home of a family member or good friend. (Make sure you know what your insurance policy will cover with these valuables off-site.) Also, consider putting prescription drugs somewhere other than your medicine cabinet. Strangers have been known to visit open houses and view homes for the sole purpose of stealing common but expensive prescription medicines.

Don’t welcome unexpected “buyers”

Yes, the person who drove by and saw the sign in your yard probably is a legitimate, interested buyer, but you can’t know for sure. Better to play it safe and not invite that person into your home. You have every right to refer that buyer to your agent and ask him to make an appointment to see the home another time. Even if your agent puts a lockbox on your home, you can request that your home be shown by appointment.

Get out of the house

You may think you should stay in your house while buyers walk through. After all, you can point out all the great features while keeping an eye out to make sure nothing of value “goes missing,” right? I don’t recommend it. First off, most buyers feel more comfortable discussing the home when the owners are not present. And if that “buyer” is really a criminal, the last place you want to be is in your house with him. Take your dog for a walk, go grocery shopping, visit a friend, or take care of errands while your home is being shown. And any time someone has viewed your property, walk through your home to make sure all windows and doors are closed and locked.

If you’re selling your home on your own, know what you’re getting into

If you’re selling your home without an agent, please take extra precautions. You will be inviting strangers into your home. If possible, have someone with you when you show your property. Request an ID from prospective buyers and let them know this is for security purposes. You might even phone someone to pass along the ID information, so the buyer knows you have done so. Carry your cell phone in your hand, and do not follow buyers into rooms where they can block you from exiting. Don’t discuss your schedule other than setting an appointment to see the home. Always trust your gut. If you think you might be in danger, take steps to get to safety.

 Better yet, consider hiring a Texas Realtor to sell your home. Your Realtor not only will make appointments to show your home, but you'll have peace of mind in knowing that the prospective buyers are legitimate buyers, financially qualified and ready to buy. Of course, your Texas Realtor also brings the expertise needed to maximize your selling price and help you meet your other goals in selling your home. For more information, I invite you to visit TexasRealEstate.com.

 

 Backpack Filled with School Supplies for Military Families

I just received this info and thought I would pass it along:

Operation Homefront of Texas has a program running right now called Operation Backpack.  This program is backpacks filled with school supplies for military families rank E6 and under throughout the state of Texas.  There is a registration form on the website: www.operationhomefront.net/texas under a link on the left side of the homepage called “Backpack Registration”.  One backpack per child that attends school.

Distribution of backpacks:

Any military family registered that is located in the San Antonio area will need to pick up their backpack on August 17 or August 18^th at the Retama Park Race Track at 1 Retama Parkway Selma, TX 78154 from 9 am to 6 pm both days.  Family will be required to show military ID to pick up backpack.

Any military family registered outside of the San Antonio area, we will mail the backpacks out by August 22^nd.

There is a possibility we will be coming to the Fort Hood area to distribute the backpacks registered for in that area.  Details will be posted on web site and families will be contacted with the details.

If you have any questions feel free to call 210-659-8039

Thank You!

Karla B. Ayala

Executive Vice President

Operation Homefront of Texas

Office (210) 659-8039

Cell (210) 324-0427

Fax (210) 651-4739

17305 IH 35 N. Ste 105

Schertz, TX 78154

karla@operationhomefront.net

www.operationhomefront.net/texas

 Energy Star Homes

Seven Frequently Asked Questions About Energy Star Homes

1. What is an Energy Star Home?  -- According to the U.S. Government, an Energy Star qualified home uses at least 30% less energy in heating, cooling and hot water, than those built according to the 1993 National Model Energy Code. Energy Star homes may use even less energy than homes built before 1993.

2. What techniques are used in building an Energy Star home? -- Energy Star homes are built with energy efficient appliances, high performance windows, improved insulation, tightly sealed construction with little air infiltration, upgraded heating and air conditioning systems, efficient ducting, and upgraded water heating equipment.

3. Can an Energy Star home save money? -- Yes. Energy Star homes lower monthly utility bills by at least 30 percent. There are also savings in obtaining an energy efficient mortgage from an Energy Star lender. Energy Star homes also have a higher resale value.

4. Are Energy Star homes good for the environment?  -- Yes. 15 percent of U.S. energy use is from home consumption. Home energy use produces 17 percent of U.S. greenhouse gas emissions. Since 1995, Energy Star homes have eliminated four million pounds of carbon emissions nationwide and the U.S. Government has set a goal of reducing greenhouse gases by 9 million metric tons through Energy Star qualified homes by the year 2012.

5. Are Energy Star homes healthier to live in?  -- Yes. Energy Star homes are built with tight construction standards, including the air sealing of the joints, holes and seams created during construction. This air sealing greatly reduces the penetration of outside air pollution, pollen, car exhaust, dust, radon and pest infestation. Condensation within the wall structure, which is responsible for mold formation, is also lowered or eliminated.

6. Are Energy Star homes comfortable? -- Yes. Because the home is air sealed and tightly constructed, cold drafts are virtually eliminated, outside moisture is greatly lowered, and the home is much quieter. Room temperature is equalized in different locations of the home. Air ducting is balanced, producing the same amount of air flow from each grill, even in remote rooms.

7. How will I know if a new home is Energy Star compliant? -- The Energy Star label should be prominently displayed near the circuit breaker box of your new home. You can also ask the builder for the home's Energy Star certificate. Verified Energy Star builders can be located @ EnergyStar.gov under "Find Local Homebuilders"

About the author:
Rick David writes for http://www.consumer-guides.info and other online publications on topics of consumer interest and advocacy.

 Buying A Home - Beginning Stages

Buying A Home - Beginning Stages

There are probably few things in life that are as exciting--or as nerve- racking--as the search for a house.  All the good emotions and the bad emotions seem to converge when the house hunting begins. Don't worry, this is a normal reaction, and is found in seasoned home buyers as well as those who are looking for their first home.

One of the first decisions you need to make is whether you want to do your house hunting on your own, or by using an Agent. If you decide to go it on your own, you will be able to see (and buy) those houses that are For Sale by Owner (known as FSBO's). Depending on your area and the overall market, this will be around 20% or so of the total homes available (the other 80% are the "listed" properties--being sold
through an Agent. Those homes you can't buy--or even see--on your own). Remember the agent selling the home represents the sellers best interest not yours.

If you decide to use an agent, have your own. You certainly wouldn't call upon the prosecuting attorney to represent you in your defense or answer your questions. Get to know your agent by familiarizing yourself with the way they work. Trust is an important factor. Ask questions.

Once the decision to buy a home has been made, take the time to prepare before you go on your home search. Yes, it is very tempting to rush out and actually look at houses, but to do so  without full preparation can be both disastrous and expensive. You will find that "house hunting" is down on the list.

*Get your financial affairs in order first! I can't stress this enough--it will save you an enormous amount of time, aggravation and heartache.
*Determine what your budget will comfortably allow and stick to it. Don't spend yourself into a "house poor" situation.
*Get preapproved for a mortgage. This will not only give you a clear idea of how much a lender will approve for you, it will make your home buying process a great deal easier (and save a lot of time later). Ask your Agent for lenders they work with and recommend. (There are a lot of lenders out here, not all created equal)
*Get familiar with the different housing types available to narrow your search.
*Determine your minimum requirements as well as any desired additional features--your needs and wants.
*Take note of any items that you don't want in a house.
*Determine the desired location (schools, work, public transportation, etc.)
*Familiarize yourself with the mortgage process.

As you are looking, use a scorecard to compare homes. A scorecard is a great tool when it comes time for comparisons (and for remembering which home had which features!)

When you find something you like, make sure your Agent pulls recent comparables and researches the property. This way you
know the true value and what an appropriate offer would be.

Maintain your perspective--and your cool! You may find an acceptable house on the 1st day--or the 50th. The important
thing is to get the home that is best for you!

About the author:
Cecilia Sherrard, Northeast Ohio full time dedicated REALTOR.

 Home Loans: Secrets That Can Save You THOUSANDS

Home loans: 7 little known loan secrets that can save you THOUSANDS.

When shopping for a home loan, getting a competent loan officer (and an ethical one) is far more important than saving a fraction of a percentage point on your interest rate. Going with the "lowest bidder" may save you five or ten bucks on your home loan, but choosing who to work with just because of the lowest interest rate could very likely get you a "loan shark" who will get you stuck with a rate that is irreversible, or you might not even get a loan at all.

The best ways to avoid originators who are incompetent, or who practice unethical tactics:
*Avoid shopping for a L.O. in the phone book or newspaper. That's where most predatory originators advertise.
*Avoid committing to originators just because they promise the lowest rate. If their rate is more than 1/4 of a percent less than what most other lenders are offering, it's likely too good to be true, and you won't find that out until it's too late. (Usually - the morning of closing!)
*Ask trusted friends who they used for their loan.
*Beware if the loan documents you are signing involve a pre-payment penalty. Pre-payment penalties are typically attached to a loan when originators are being given a large kickback from the lender. Before you sign those loan documents, get a second opinion.
*If the pre-payment penalty wasn't sprung on you until you are at the closing table, you should strongly consider what you are committing yourself to before signing those documents.
*Ask a trusted Realtor for a couple of recommendations of originators to use. Unlike you, won't likely be buying again for years down the road, lenders want to make sure to impress Realtors, because those Realtors represent dozens of other loans through buyers they'll continue to send their way.
*Never - ever - get a home loan from an out of state lender. Every state varies widely on the loan closing process. Even the most competent lender could jeopardize a transaction for something as minor as not knowing whether the home you are buying is in a "wet state" or a "dry state". (*A "wet state"
funds the mortgage loan on the day of closing, whereas a "dry state" funds the loan several days after closing. )

If you really want to have fun, when you apply for your loan, ask your LO what fees they charge, and after they give you their answer, ask them if that includes a "yield spread". (You're GUARANTEED to catch them off-guard.)

About the author:
Joel McDonaldis a member of www.make-them-pay.com, a website dedicated to empowering home-buyers to get the
most out of their real estate agent.

 Buyer's Checklist - Buying Real Estate in and around Killeen, Texas

Buyer's Checklist - Buying Real Estate in and around Killeen, Texas
Your Source For Killeen Texas, Fort Hood Real Estate

Searching for real estate in the Killeen Texas, Ft Hood, Belton, Harker Heights area? Search no more! We can help you with all of your real estate needs. As relocation professionals, we will be able to assist you with all aspects of your move to Killeen Texas – Ft Hood area. - Lisa Jay, It's All About You!

 

Steps in the home buying process - First time home buyer's information:

 

1. Pre-qualify for mortgage - This is the first and most important step in the home buying process.

 

    First Community Mortgage - Carol Berger  254-526-5100

 

2. Discuss Information About Brokerage Services - Per company policy, we will discuss buyer agent, seller agent, intermediary services

 

3. Discuss home search criteria

    Bedrooms

    Square Feet

    Location

    Age

    Garage capacity

    Lot Size

    Price

 

4. Search the entire MLS for properties that meet your needs. we are able to sell ANY home that is listed in the MLS, as well as any homes with a yard sign, in any home magazine or homes listed in the newspaper. If you see something while driving around town, don't call the number on the sign.....instead give us a call and we will be glad to show it to you!

 

5. Make appointments to preview properties that meet your criteria

 

6. Let's go home shopping!

 

7. Once you have found the perfect home, there are several things that we need to do for you, the buyer:

    Do a market analysis to establish a fair price for the home - check to make sure that the list price is a fair price

    Call listing agent to check to make sure the property is still available

    We will request a Seller's Disclosure from listing agent - the seller has disclosed anything that they know is wrong with the property

    Decide if you want to "purchase" an option period** -- include a check for this option period made out to the seller

    Escrow money check for the earnest money made out to title company -- usually around $250-$1000

    Submit offer that includes: pre-qual letter, option money, escrow money

 

Once offer has been accepted, signed and returned, we move onto the next steps that we take care of for you, my buyer.

 

8. Enter "execution date" into the contract - Your 10 day option period starts at that date and ends at midnight the 10th day.

 

9. Take earnest money to title company along with a copy of the contract

 

10. Fax copy of contract to the Mortgage company

 

11. We will assist you in scheduling a home inspection as soon as possible - This must be paid for at time of inspection by you, the buyer. (aprox. $175-$225) Here is a list of  home inspectors

 

12. Once the home inspection is conducted, you review the inspection with the inspector and decides what repairs you would like the seller to have done prior to close.

 

13. Submit an amendment to the seller requesting repairs.

 

14. You, the buyer, may OPT OUT of the contract at any time during the option period.

 

15. The contract goes forward if all parties agree within the option period.

 

16. Once option period has ended, we will assist you with ordering the survey, termite inspection, insurance and home repairs. If you are using your VA benefits, the mortgage company will order the appraisal. Otherwise, we will assist you in ordering the appraisal.

 

17. As your agent, we will make preparations for closing, council you about closing procedures and set up closing date.

 

18. One week prior to closing, you will call the utilities companies for utility change over.

 

19. 2 days prior to closing, we will walk through the property to make sure that it is clean and all repairs have been taken care of per the contract.

 

20. Prior to closing, we will review the closing statement with you and make corrections if needed.

 

21. If you are expected to bring money to the closing table, it must be a certified money order if the amount is more than $1000.  NO MONEY ORDERS!  NO PERSONAL CHECKS!

 

22. We attend all closings with our clients!

 

23. You will receive the keys AFTER closing and funding by the mortgage company. This means that all documents are back and signed from both buyer and seller and the mortgage company has funded. If the closing is a mail out to either party, the closing and funding may be delayed until all documents are returned.

Search Homes for Sale www.FtHoodRealty.com

 Finding The Best Realtor®

Finding The Best Realtor®

 

Finding the appropriate time to leave behind the unforgettable moments that you experienced in your home is sometimes stressful, but it's always the time to move forward to get a new investment. Statistics in Las Vegas real estate show that the average family is ready to jump into a new home almost every 5 years, so how you interview the best candidate is going to help you to sell your most valuable asset and move to the next step of finding your next "dream home." Here is some advice for you: Find an agent with a marketing plan that is designed to incorporate all the resources, tools, and systems accomplishing your goals and needs as the seller of a real state property. Look for somebody who is going to get you the most amount of money in the least amount of time and the least amount of inconvenience. Sometimes looking around and interviewing so many candidates can make you confused because everyone uses different strategies to get you sold. It is important that you get focused and express all your concerns and necessities to the candidates that you interview. Pay attention to the different marketing plans they offer to you. Ask questions all the time about the different steps that happen through the transaction process. Make sure you understand everything they say and take notes. This way, in the end of your process to find a Las Vegas Realtor®, you have specific notes about the agent you are going to hire and all the promises and commitments this person is going to do for you to get you through the process of selling your home or buying a new one. Select the agent that looks professional, acts professional, and most importantly, shows you that he or she knows what they are doing. This is why it is important to see if the agent uses current technologies, advertising, and all other marketing strategies available to get your home exposed everywhere in the real estate market. Ask for the seller service pledge. What this includes, is all the strategies and services that this agent is willing to provide for you. Especially, it is important your agent provides excellent customer service for you and the possible buyers interested in your home. Ask to review all the offers and acquire feedback from all the Las Vegas Realtors® and buyers that visit your home. This way, you will get different opinions from people referring to your home, which will help you to get the right price or maybe fix a couple things that will improve your home's appeal to the next possible buyers. The most important suggestion is not to base your decision on who gives you the best price for their services, but to find the agent that is most qualified based on their qualities, abilities, and array of services. Sometimes when you spend less, will cost you more in the end, because your agent matters. And remember, don't be nervous to leave the beautiful moments that you have in your own home, because changes always bring the best.

 

---

 

About the author: Ingrid Macher is a Real Estate Agent in the Las Vegas, NV and Henderson, NV areas. If you have any unanswered questions, you can reach her at her Las Vegas Real Estate website. http://www.lvrealproperties.com//

Search Homes for Sale www.FtHoodRealty.com