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Buyers
. Why use a REALTOR?
. 10 Things to Take the Trauma Out of Home buying.
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. 6 Top Benefits of Owning a Home. scroll down for article
. 10 Biggest Home-Buying Mistakes. scroll down for article
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10 Biggest Home-Buying Mistakes
by Pat Curry-Bankrate.com
David Weekley, CEO of Houston-based David Weekly Homes, is one of the country's largest home builders and also the author of a new book, "How to Buy a Home Without Getting Hammered".
Based on 30 years of home-building experience for 40,000 people, Weekly offers these 10 biggest mistakes in home buying:
1. Not doing your homework. Knowledge is power. Tremendous information is available on the Internet. There is no excuse for entering the market unprepared.
2. Trying to make a shrewd investment. People need to buy based on what fits their family. Don't try to guess what will happen to the market.
3. Choosing a poor location. Even within a neighborhood, location matters. Is it on the busiest street? Is there a shopping center out the back window?
for more on this article click here. 6 Top Benefits of Owning a Home
by Melissa M. Ezarik - Bankrate.com
According to the National Association of REALTORS, record numbers of Americans have purchased a home in recent years. U.S. Census data for 2003 show a total of 68.3% of Americans are homeowners.
Here are 6 significant reasons to grab that hefty piece of the ownership data pie:
1. Tax deductions. Although they're the stuff that bill-paying grumbles are made of, mortgage interest and property tax obligations are a homeowner's best friend come April 15th.
2. Appreciation. Homes are considered a safe, steady investment, with values that rise while debt amount drops.
for this complete article click here 10 Things to Take the Trauma Out of Home Buying
Article from REALTOR Magazine online
1. Find a Real Estate agent that's simpatico. Home buying is not only a big financial commitment, but also an emotional one. It's critical that the agent you chose is both skilled and a good fit with your personality.
2. Remember, there's no "right" time to buy, any more than there is a right time to sell. If you find a home now, don't try to second-guess the interest rates or the housing market by waiting. Changes don't usually occur fast enough to make that much difference in price and a good home won't stay on the market long.
3. Don't ask for too many opinions. It's natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
for more on this article click here.
10 Things That Make Buyers Bite
some materials taken from HGTV.com
1. Curb Appeal. Keeping the lawn neat and green. Enhancing your yard, think of adding a small deck, a rock garden or a small pond.
2. A Nice Entryway. Always make a great first impression. Paint your front door, add a flower pot. If you do not have a foyer add a table to section off the entrance way from you living room.
3. Flooring. Hardwood flooring is the hottest thing buyers are looking for, they never go out of style. Can't afford hardwood, go Pergo, it's a great alternative.
for more on the article click here
Selling Mistakes to Avoid
Pricing Incorrectly (too high or too low)
Make sure you determine the market value of your home correctly. If your asking price is significantly higher than what the market is currently bearing, many potential buyers looking for your style of home will view similar but lower priced homes first. Not only does this limit the pool of potential buyers but it also increases the chances that your home will sell for less than its actual value. This is due to the "discount" often associated with properties that have been on the market for a longer than average time. Buyers are often overheard asking their Agent... "What's wrong with that home? It's been for sale forever". Alternatively, if your asking price is too low, you are literally giving away your hard-earned equity just because you did not know what the market would bear.
Failing to "showcase" your home
A little work can improve the first impression of your home a thousand-fold. First impressions are lasting impressions and can dramatically affect a property's perceived value.
Mistaking a Bank's appraisal or a new Tax Assessment as your home's actual market value
These processes are based on general guidelines such as lot size and square footage, not the specific qualities and improvements of your home. Using either of these as a baseline could cause you to over-price or under-price your property. It requires detailed background knowledge of all recent neighborhood sales as well as homes currently for sale in order to estimate value accurately. Ask your realtor for a detailed market evaluation.
Choosing the right Realtor for all of the right reasons
It is critical that you have full confidence in your realtor's experience and abilities. You want a realtor who can explain the whole selling process to you, has a good feel for the market, has access to potential buyers and offers sound advice on how to improve your chances of selling. Try to avoid choosing a realtor on the basis of which one gives the highest estimate of your home's value. In order to achieve the best sale price within a reasonable period of time you need an accurate indication of what the true market value of your property is. Knowing this allows you to properly price your home, thus maximizing your chances of selling and allowing you to make your future plans with the sure knowledge that your goals can be attained.
Failing to take current market conditions/trends into account
Is it a Buyer's market, a Seller's market, a Balanced market? What do future trends look like? Ask your realtor for a full analysis.
Not taking advantage of market fluctuations
The Big Picture... Moving up in a market downturn? If your $150,000 home has dropped 10% in value, so has your $300,000 dream home. Yes, you lose $15,000 on your current home, but you save $30,000 on your next purchase! Always keep in mind the big picture.
Using "hard sell" during showings
No one likes being pressured. As well, buyers might wonder why you are so anxious to sell. Let your home speak for itself.
Mistaking "Lookers" for "Buyers"
Many people who look at homes for sale may just be getting a feel for the market, seeing how others "showcase" their homes, or even just looking for decorating ideas. Your realtor deals with these situations on a full-time basis and has the experience needed to separate the "Lookers" from the actual "Buyers".
Relying too heavily on advice from the Buyer's realtor
The interests of buyers and sellers are often opposing. In an agency relationship it is very difficult for one realtor to look out for the interests of both the buyer and the seller. You want to make sure you are familiar with Real Estate relationships and the difference between being a client or a customer before accepting advice from an agent or entering into any formal relationship with an agent.
Limiting the marketing and exposure of your property
Part of what a good realtor does is to ensure that your property is showcased and marketed in the best and most productive manner possible. Not allowing a "For Sale" sign on the front yard, or limiting viewing times can dramatically reduce the number of prospective purchasers seeing your home and have a serious impact on your bottom line.
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