Preparing to purchase a home takes time. You need to establish a solid credit score. We have all heard of scams that can ruin your credit score. BE INFORMED of potential hazards. If you fall victim there are resources to help restore your credit score, but avoiding the nightmare of identity theft & credit scams is obviously important. Here is an article to help avoid one of the current scams.
http://www.kiplinger.com/columns/kiptips/archives/beware-of-credit-card-texting-scams.html
Bank owned properties offer possibilities of serious profits. It would be nice if now that the taxpayer is saddled with the burden of the bail-outs and the loss of value in our homes, if at least properties would be offered fairly on a free market. Follow the money…
Rahm Emanuel said “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before.” Why do we not believe him? He is voicing a political agenda. They have power. complacency is a very dangerous thing.
http://www.youtube.com/watch?v=1yeA_kHHLow
Time for us to get involved and be aware. We have much at risk. Check into the ties of politicians and big business.Crony capitalism is not a free market. Crony capitalism is NOTHING like true capitalism. Politicians, banks and insurance companies fix the market. They are all involved. We had better wake up to this as a nation. My previous several blogs discussed this very thing and now read this article.
http://www.housingwire.com/2012/01/25/insurance-companies-eye-more-real-estate-investments
Here is an excellent resource for researching what went wrong. Federal government over reaching & crony capitalism is explained. The book is well researched by a very qualified economist. The fact are presented in a very comprehensive manner. I believe it to be very objective. Thomas Sowell is a very creditable writer. “The Housing Boom and Bust” by Thomas Sowell
http://www.nationalreview.com/articles/227468/housing-boom-and-bust/thomas-sowell
This has huge implications in the housing market. How many want the banks for a landlord? What does this do for opportunity for individuals buying homes? The banks & government continue to reap the benefits of the mess they created??? Be leary of what may seem on the surface to be a helping hand. They said they were helping when they created the house of cards known as the housing bubble…
I love my job! I really love my job. I love working with people & the results we achieve are more often than not bettering their situation. Buying or selling, people have a goal & it takes a lot of work & guidance to get the job done in this market. I don’t mind hard work & delight in the reward of getting buyers into a home , or helping sellers out in a difficult task.
As a real estate agent, I must have one of the only “sales” jobs that people truly want to ask questions & talk about. People generally are shocked when I tell them that it is going very well & that I am optimistic about housing. We have a mess in the housing market, that is true, but there is good in it as well. I won’t step away from helping people who need help. I see opportunity for first-time & move-up buyers. There is work to be done & agents who will roll up their sleeves are needed to help navigate people through this market.
Here is a video that really summarizes how I view the housing market. He only makes sence!
http://rismedia.com/2011-08-29/rand-on-real-estate-why-so-optimistic-in-this-housing-market/
Had good traffic through my Shakopee Thursday afternoon open house. I had someone post on my FB wall this comment about the concept:
“Yeah. Sundays are for peace and quiet, not for looking at houses. Thursday is when you are looking for something new and exciting. Friday is to forget the week with a few drinks or woo hoo, found the house of my dreams!”
Couldn’t have said it better myself!
Join the FB group! Let’s be trendsetters!
https://www.facebook.com/group.php?gid=59283210751&ref=ts
Gail Haering- licensed real estate agent with Edina Realty in the state of Minnesota www.gailhaering.com
Starting a trend of open houses on Thursdays would make attending as convenient as stopping for bread or milk on the way home from work. It would free the weekend for family activity & not displace homeowners on the weekend as often. The Sunday open house was popularized strictly because, at the inception, the Sunday newspaper was the advertising vehicle. This has changed. Opens are advertised and searched online. Consumers & agents alike, let’s do it!
I have started a facebook group to launch this idea & popularize this trend. Turn out has been as strong on Thursdays as the weekend when I have held opens during the time when people are on the way home from work. Please join the facebook group & invite others to join: https://www.facebook.com/group.php?gid=59283210751&ref=ts
www.gailhaering.com licensed agent with Edina Realty in Minnesota, dedicated in a demanding market. Serving the greater Twin Cities area.
In a home purchase, buyers are often able to come up with the down payment, but do not have the cash to cover the other out of pocket expenses. There is a cost for the title work & the mortgage in order to process the transaction. Many will ask the seller to pay these closing costs. Tppically, the seller is willing to pay at least part of these costs. This is key to remember when writing your offer asking for these “seller paid concessions”. They are BUYER’S closing costs. The truth is you are asking the seller to pay YOUR closing costs.
Enter into the offer with this in mind. It has become so common place that some buyers view these costs as the sellers responsibility. It truly is the seller paying the buyer’s closing costs. Net out the costs to look at what you are truly offering the seller. The seller has their own closing costs. Always look at the net offer. Low ball offers tend to offend & negotiate to less desirable end results. Understanding whose expenses these are helps in determining a viable offer.
The other consideration is that if the buyers closing costs raise the offer price, the home has to appraise out to the offer price & in this market it can knock you out of range and the loan will not allow the price offered.
An experienced real estate agent is of great value in advising you in this aspect. I work the greater Twin City metro area in Minnesota as a licensed agent at Edina Realty. www.gailhaering.com
Here is an article about closing costs. In our area, it is common to write an offer asking for closing costs. The costs are defined on an addendum in the offer.
http://www.thetruthaboutrealty.com/seller-paid-closing-costs/
In this market you need every advantage as a seller. Curb appeal is that something special that makes your home inviting as people pull up to the driveway. The high number of foreclosure houses can actually help set your home apart from the bulk of the inventory if you focus on some basic curb appeal factors. Clean, clean, clean! Clean the windows, siding, driveway and gardens. Make sure your front door is fresh & clean. Does your front door & lock operate smoothly. I cannot tell you how many doors stick & how many locks are difficult to operate. You don’t want your buyers to stand there waiting while their agent struggles with a lock that sticks & the key is in danger of breaking off in the lock. It gives a feeling of lack of maintenance right off the bat. Keep landscape neatly trimmed & freshly watered. A few splashed of color tastefully added with flowers go a long way. Show them the difference between your home & neglected foreclosure homes if you want to swoon them over as a traditional seller. Give them a reason to choose you rather than a distressed home that is tempting strictly because of the price. From the curb, you need them to see that your home has been maintained & is not the “money pit” that so many foreclosure homes can be.
It is the sum of many little things that will set you apart from the competition. Here is an article about curb appeal.
http://rismedia.com/2011-03-08/create-a-memorable-first-impression-through-successful-curb-appeal/
For a seller consult contact me at: www.GailHaering.com
I am licensed with Edina Realty in the state of Minnesota and work in the greater Twin Cities market.
We will be seeing many changes in home loans as the government does some restructuring Freddie, Fannie & FHA. It is early to tell, and hard to keep track of who is doing what. This article may shed some light on the subject.
http://lowes.inman.com/inmaninf/lowes/news/137227
We are bound to go through more difficulties yet on the road to recovery. I do believe strongly that government and banks were both involved in some irresponsible behaviors. Lending standards are crucial to a stable housing market.
As hard as it is to come up with down payment money, we are obviously more prepared for homeownership with a strong down payment. In that regard, it is not all bad. As usual, they swing to extremes.
real estate revelations 