If you are considering buying or selling a home, you may think you will “save some money” and do it yourself. But did you know that by using a knowledgeable real estate professional, you are more likely to save not only money, but also valuable time and energy? With the many tasks you are currently trying to juggle, do you have the sales skills – not to mention the contacts and resources – to do it on your own? Instead of trying to take on more work for yourself, think about what a real estate representative can do for you.
As buyers, you know what your financial reserves are and what your future earning potential may be. You can give your real estate professional information about your income, saving and current debt. Then, your agent can take that information to help you make a choice about which homes best meet all of your needs, and to offer you objective information about homes that are on the market.
If you are selling property, a real estate representative will be aware of ways you can significantly increase the salability of your home. In addition, a real estate professional knows how, when and where your property should be advertised.
As a real estate professional, I can help with all of your buying and selling needs.
Nearly three out of four renters (72 percent) say owning a home is a top priority for their future, up from 63 percent a year ago, according to the 2011 National Housing Pulse Survey from the NATIONAL ASSOCIATION OF REALTORS®. But more than three-fourths of renters say they would be less likely to buy a home if they were required to put 20 percent down, and 71 percent believe a 20 percent down payment requirement could have a negative impact on the housing market.
Some groups of homeowners — including self-described “working class” homeowners, younger non-college graduates, African Americans and Hispanics — believe that a 20 percent down payment requirement would have prevented them from becoming homeowners. More than eight out of 10 respondents (82 percent) say the top obstacle to homeownership is having enough money for a down payment and closing costs, followed by having confidence in one’s job security.
Great info. from CRS Member Connect on-line newsletter
When looking at the real estate purchase contract, most buyers focus on the sales price – but the price isn’t the only factor that determines the bottom line. Is a bargain really a bargain if the buyer is paying all the transaction costs?
Before you decide to go with a great price, make sure you know the transactions costs and who will pay for what. Typical costs include a home inspection, a termite inspection, title and escrow fees, transfer taxes & recording fees. These costs vary grealty around the country. Who pays for what can be negotiated, and sometimes the customary local practice is applied.
From “Housing Matrix . com”
Home sales have been rising since Nov. 2008, and looks like 2010 will be a good year for home sales.
http://housingmatrix.com/hot-sheets/exhome.pdf
The report tracks the number of existing homes sold during the previous month. The data is collected from more than 650 Boards/Associations of Realtors and MLS (multiple listing services) listings across the nation. It includes a two year historical graph and a table of long-term trends for existing home sales, by areas of the country, month’s supply, median and average sales price. Ideal resource to stay on top of existing home sales.
1. Pay your bills on time. Payment history accounts for roughly 35% of your score. So paying bills on time is the most important thing you can do. If you’re behind, get caught up and then stay current. If you’re struggling, contact your creditors to work out a payment schedule.
2. Increase the length of your credit history. It accounts for 15% of your score. Canceling an old card or getting a lot of new credit within a short time span can hurt your score because it lowers the average age of your accounts.
3. Keep credit card balances low. Credit utilization makes up 30% of your credit score. Try to keep the amount you borrow below 25% of your available credit. Even if you pay off your credit cards every month, the average balance will still impact your score.
4. Minimize new credit requests. They account for 10% of your credit score. Every time a potential lender asks for a copy of your credit report, an inquiry is recorded. If you will be applying for a loan in the near future, don’t apply for any new credit cards beforehand. You can also ask the three main credit reporting agencies-Experian, Equifax, and Trans-Union, to stop unsolicited credit offers.
5. Maintain different types of installment and revolving debt. About 10% of your score depends on the type of credit used. How you handle revolving credit (like credit cards) carries more weight than how you deal with installment debt (such as car loans & mortgages).
Brian Ripp, CRS, GRI, Broker – your Bay Area Realtor www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6% to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7% above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said. ”Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30.”
November is coming soon, if you’d like to start your home search – contact me or visit my web site and search yourself.
Brian Ripp, CRS, GRI, Broker – your Bay Area Realtor
www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
If you are considering buying or selling a home, you may think you will “save some money” and do it yourself. But did you know that by using a knowledgeable real estate professional, you are more likely to save not only money, but also valuable time and energy? With the many tasks you are currently trying to juggle, do you have the sales skills – not to mention the contacts and resources – to do it on your own? Instead of trying to take on more work for yourself, think about what a real estate representative can do for you.
