Buying a Home? 4 Signs It’s Time to Call An Agent

Source: RE/MAX.com Blog

While house hunting TV shows tour the neighborhood, close the deal and throw a housewarming party in 30 minutes, real life is not as streamlined. If you’re in the process of buying a home, here are signs it’s time to call a realtor.

1. You believe everything on the internet

While you can view tons of listings online, not all of the information is accurate or up-to-date. You’ll see outdated comps, conflicting forecasts and different ratings. With access to the MLS and insight on properties about to hit the market, a Realtor will make sure you’re considering all of the homes in your market that fit your criteria.

2. You’re juggling a hectic schedule

You don’t need to spend time sorting through listings and contacting sellers. An agent will do the browsing so you only visit the homes that best fit your needs and price range.

3. The biggest thing you’ve negotiated lately was your kids’ bedtime (and you lost)

As professional negotiators with years of experience, Realtors know how to create, present and negotiate the best offer. Remember, you’ll be going up against another professional negotiator: the seller’s agent.

4. You don’t know if a neighborhood is on the way up or down

An agent who knows the neighborhood can give you the scoop about local developments and changes that don’t always pop up in a Google search. He or she will also put them in context of larger market forces that could impact the future value of a home.

If you’re looking for an experienced professional to guide you through the home buying process, look no further. 

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The Sarasota Native Group® is made up of full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.) 

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.

Contact us today!

  

The Sarasota Native Group® | www.TheSarasotaNativeGroup.com | 2000 Webber St. Sarasota, FL 34239 | 941-822-1519

7 Reasons You Are Not Working With a Realtor® To Buy A Home (And Why That is a Mistake)

By: Alex Morel

7 reasons you are not currently working with a Buyer’s Agent:

•         You don’t trust real estate agents.
•         You have bought a home in the past and know what to do.
•        You cannot afford to pay the real estate agent’s fee.
•         You can search and find homes on the internet yourself.
•         You will just work with the agent who listed the home for sale.
•         You are waiting for your dream home to come on the market before you contact an agent.
•         I’m buying a new construction home and will work with builder’s sales agent.

If you are trying to buy a home without the help of a professional Realtor® you may ultimately be hurting your chances of finding and buying the home of your dreams. You may also be hurting your pocket book in the process. Let me explain why you should be using a Realtor®.

(We hope by the time you make it through the reasons below you will come to the same realization that most buyers come to: it is in your best interest to work with a reputable and experienced Buyer’s Agent.)

You don’t trust real estate agents. Maybe you heard from a friend or family member about how bad their experience was with their Realtor®. Maybe you have worked with a Realtor® and your experience wasn’t the best. It is true for some people that their outlook towards real estate agents is about as low as car salesmen or attorneys. Unfortunately a bad apple does spoil the bunch for some people, and you better believe their bad experience will be broadcast to everyone they know. Buying a home is the largest purchase most people will make in their lifetime and it is a very emotional time. If it does not go as planned, or if their Realtor® isn’t living up to their expectations, things can go bad very quick. On the other hand there are some who have had a great experience with their Realtor®. They also tell their friends about how great their Realtor® and experience was. So what gives? Are real estate agents good or bad? Well, it depends on who you ask and how their experience was with the Realtor® they used. But keep in mind; a Realtor® is bound to a code of ethics. If a Realtor® is caught acting unethically it will cost them big time and could even lead to a revocation of their license.

You have bought a home in the past and know what to do. While buying a home does give you some insight into the process, it is not something one does often enough in their lifetime to completely understand or even be aware of the processes or pitfalls. There are many things to consider before you buy, and let’s not forget that every state, city, neighborhood and association has different rules, regulations and practices. A Realtor® is knowledgeable of all aspects of the transaction and they are required to complete continuing education in law and practice to better serve you. Having an experienced and up to date agent working only on your behalf, and not the sellers, is to your advantage.

You cannot afford to pay the Realtor® fee. When it comes to buying a home you have to be prepared for upfront costs and closing costs associated with the purchase. You will have to account for inspections, an appraisal, a survey, utility deposits, lender fee’s, taxes, Realtor® fee, etc. If you are on a tight budget the best thing you could possibly do is work with a Realtor®. Here’s why. A resourceful Realtor® can direct you to lower cost servicers, help strategize to get some of the closing costs covered or explore the possibility of rolling costs into the mortgage. The Realtor® fee is generally nominal ($300 to $400 due at closing) and a good Realtor® will probably save you more than $1,000 before you even close on the transaction. (See how much we have saved our clients on average below.)

You can search and find homes on the internet yourself. With the advances and availability of technology you can now search the internet for available homes while sitting in your pajamas or on your lunch break at work. (Gone are the days of needing a Realtor® to show you what properties are available for sale by going through their private database and then driving you around to homes that match your specified criteria. Can you imagine?) While this is true, working with a Realtor® still has its advantages. Real estate agents are the first to know about new listings and are provided with the new information in real time through their private database. Searching through home listings on 3^rd party websites like Zillow and Trulia (quite possibly the most visited websites among active home buyers) puts you at a disadvantage as new home listings are not typically syndicated and added to these types of websites for up to 24-48 hours after they are entered in the Multiple Listing Service (MLS). So to the buyer not working with a Realtor® who is waiting for the home of their dreams to show up on Zillow, there is another buyer who is working with a Realtor® who has already received your dream home 2 days before you will see it on Zillow and has already visited it and executed a purchase agreement to buy it. Bummer.

You will just work with the Realtor® who listed the home for sale. Ok, so you are lucky enough to find a home that has not already gone under contract with another buyer. You have it in your mind that you can just work with the listing agent who is advertising the home for sale. You may even think you will get a better deal by dealing directly with the seller’s Realtor®. While you could get a good deal, the likelihood is not very great. What you have not considered is that the listing agents’ first duty is to the seller, their client. They already promised to get the seller the best deal possible and the seller trusted them enough to do so. Question: How can the seller’s Realtor® get the buyer the best deal possible when they are trying to get the seller the best deal possible? Hmmmm? Also, the seller’s Realtor® cannot guide you on the subject properties value and they cannot negotiate or guide you with your best interests in mind. This would be a conflict of interest. Only a buyer’s agent can do those things for you, and you should also have a Realtor® representing your best interests. It is as simple as that. (See how much we have saved our clients on average below.)

You are waiting for your dream home to come on the market before you contact a Realtor®. As mentioned above, people who are only using third party websites like Zillow and Trulia may ultimately miss out on the home of their dreams because a buyer who is already working with a Realtor® has already seen your dream home and has it under contract before you even knew it was available. When you work with a Realtor® they can easily set you up with an account that has an automatic property alert through their private database. As soon as a new home hits the MLS you will be alerted by either the Realtor® who is notified by the system or an automatic e-mail will be sent to you once the system matches the property to your specified criteria. You are ultimately in a better position to land the home of your dreams when working with a Realtor®.

I’m buying a new construction home and will work with builder’s sales agent. While it doesn’t seem necessary to have an outside real estate agent represent you in a new construction purchase, consider a few reasons you should. A Realtor® can guide you and inform you about all new construction builders and their communities and what they offer. A Realtor® can negotiate on your behalf with the builder’s sales agent. A Realtor® will be available throughout the build process since most new construction agents move from site to site and you could lose contact with your representative. A Realtor® has outside resources if you end up needing them, including attorneys, inspectors and other service providers. A Realtor® will be a helpful resource after the sale is complete and won’t disappear or not return calls once they have you under contract. A Realtor® will represent your interests in the transaction, not the builders.

Buyer’s Agent duties to the customer (Our promise to you):

•         Dealing honestly and fairly.
•         Accounting for all funds.
•         Using skill, care and diligence in the transaction.
•         Disclose all known facts that materially affect the value of the property that we are made aware of.
•         Present all offers/counteroffers in a timely manner.
•         Confidentiality.
•          Any other duties mutually agreed to.

We are full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were also born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.)

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.

Contact us today!

  

The Sarasota Native Group® | www.TheSarasotaNativeGroup.com | 2000 Webber St. Sarasota, FL 34239 | 941-822-1519

Top 9 Real Estate Questions – and Answers!

A home is likely the biggest investment you’ll make in your lifetime – financially and emotionally speaking. The experience is exciting, all-encompassing and yes, it can be overwhelming. But it doesn’t have to be. Asking the right real estate questions, and seeking answers from a trusted team of professionals, will put your mind at ease.

Here are the top 9 real estate questions, and the answers supplied by our expert network of RE/MAX brokers and agents.

1. I'm thinking about buying my first home. Where do I start?

Step 1 is to get pre-approved for a mortgage. A pre-approval lets you know how much you can afford, and you may be able to get locked in at the current interest rate for up to 90 days or more, allowing you to shop with confidence. This is especially important with potential interest rate hikes, which may impact your mortgage rate and ultimately, your home-buying budget.

2. Is there a "best" time of year price-wise to buy a home?

There really isn’t. Prices depend on a number of factors like supply, demand and other housing market conditions. These can vary greatly from city to city, and from one neighborhood to the next. Rather than season, the numbers of days on market is the biggest indicator of your negotiating power. If the home was recently listed, the seller will have had less time to test the market and gauge buyers’ response to the price, and will be less likely to negotiate.

3. Can I buy a home with no down payment?

Simple answer, yes. There are mortgage programs created to help a buyer achieve the American dream. Contact your lender or your real estate agent to learn more about what is available to you. Most programs are income based. Even if you qualify for a loan without a down payment you will still be on the hook for upfront costs and closing costs. Your real estate agent can cover these costs with you.

4. How does mortgage insurance work?

There is a common misconception that mortgage insurance protects the borrower. This is not the case. Mortgage insurance is there to protect the lender against default in payments by the home buyer. If the buyer has a down payment of less than 20 per cent of the purchase price, the lender will purchase default insurance and pass that cost on to the borrower. 

5. How much will I need for closing costs?

Closing costs will typically range from 1% to 4% of the home’s purchase price. These include things like legal and administrative fees, and are payable at closing. You can expect to pay lender fee's, mortgage insurance (if you down payment is less than 20% of the purchase price), transfer taxes, prorations & title insurance among other things.

6. Should I lower the list price, or offer an incentive to sell my house faster?

Reducing the listing price is the way to go, according to Mike Zuccato of RE/MAX Realty Services. It’s critical that you list your home for the right price, in order to attract interest from buyers and generate serious interest in your listing. Your real estate agent will help you set the right price that is competitive with comparable homes in your area.

7. What color of houses sell fastest?

“The easy answer is, depends on where you are!” says John Wolfe of RE/MAX a-b Realty. “The color is important, but having a color that is prevalent in a community and keeping that color complimentary to the vintage of the home is likely best!”

8. What should I look for in a lucrative investment property?

Whether you’re thinking about resale value down the road, a quick reno-and-flip job, or for long-term rent ability as a landlord, location is the golden rule of real estate. “Your home is not an isolated island,” says Gerry Footz, RE/MAX Elite. “For investment purposes down the road, it might be tougher to sell a nice house in an unappealing community.” 

Cutting Edge Research Inc. identified the following factors for a solid investment property. 

Is the area experiencing population, income and employment growth? Will the area benefit from an economic or real estate ripple effect? Can the local infrastructure support the expected growth? Are there any major transportation improvements in the works? Is the area attractive to Baby Boomers’ lifestyle? Is there a short-term problem occurring that is likely to disappear in the future?

9. Does a higher credit score mean a better mortgage rate?

Your credit score is a measure of your financial health. Your rating "indicates the risk you represent for lenders, compared with other consumers... The credit- reporting agencies Equifax and TransUnion use a scale from 300 to 900. High scores on this scale are good. The higher your score, the lower the risk for the lender." Thus, a higher rating will typically secure a better mortgage rate, since you're considered to be more likely to make your scheduled payments.


Source: Re/Max Blog Article

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If you’re looking for an experienced professional to guide you through the home buying process, look no further.

The Sarasota Native Group® is made up of full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.) 

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.

Contact us today!

               

Click Here For Article:  "Home Inspections: What To Expect"   

Click Here For Article: "The Best Month To Sell Your Home Is..."

  

The Sarasota Native Group® | www.TheSarasotaNativeGroup.com | 2000 Webber St. Sarasota, FL 34239 | 941-822-1519

Home Inspections: What To Expect

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following 5 areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.
2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report, the better in most cases.
3. References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their experiences.
4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued training and education are provided.
5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s okay for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

Source: Keeping Current Matters

If you’re looking for an experienced professional to guide you through the home buying process, look no further.

The Sarasota Native Group® is made up of full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.) 

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.

Contact us today!

  

The Sarasota Native Group® | www.TheSarasotaNativeGroup.com | 2000 Webber St. Sarasota, FL 34239 | 941-822-1519

Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

1. Capacity: Your current and future ability to make your payments
2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
3. Collateral: The home, or type of home, that you would like to purchase
4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

SOURCE: Keeping Current Matters

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If you’re looking for an experienced professional to guide you through the home buying process, look no further.

The Sarasota Native Group® is made up of full-time agents; this is not our retirement career nor is this a second job while also waiting tables. Collectively we have been full-time real estate agents going on 15 years. We were born and raised in Sarasota and we know the area and the market very well.

On average The Sarasota Native Group® has helped customers save 3% off the list price (or $3,000 for every $100,000) using our years of negotiating experience and knowledge of the local real estate market. (This does not include helping buyers save money by recommending trusted service providers in the area. Our contacts become your contacts.) 

Are you not seeing your dream home on the market? Contact us to discuss the possibility of having our team target off-market homes that have high selling potential that match your specific criteria. We only provide this service to committed customers because of the time and effort we put into finding the home of their dreams.

The Sarasota Native Group® will negotiate to get you the best deal possible and we would be delighted to work with you and anyone you know who is currently looking to purchase a home.

Contact us today!

  

The Sarasota Native Group® | www.TheSarasotaNativeGroup.com | 2000 Webber St. Sarasota, FL 34239 | 941-822-1519