How to Shop for a Real Estate Agent that’s Right for You!
Buying or selling a home can be exciting. But it can also be a mixture of fear, anxiety and anticipation because it means a new chapter in your life.
So, choosing the right real estate agent is one of the first things to consider when making a move.
While friends and family may refer a real estate agent to you, recognize that their home buying or selling needs may be different than yours. The Internet is a good way to do your research, but you should only consider it a starting point in your search for a real estate agent that represents your interests.
First of all, there are many intangibles that you’ll need to consider:
- Is the agent’s personality compatible with yours?
- Do you sense they are honest and trustworthy?
- Does the agent have a clear understanding of your objectives and needs?
- Do they have a list of references?
Here are some additional items for you to verify when shopping for an agent to represent you:
Licensing – While a real estate agent must pass certain tests and must be licensed by the state, you should also check to make sure their license is valid and in good standing. Have they had any complaints filed against them?
Education & Specialization – It’s important that real estate agents continue their education. They can also take courses if they’d like to “specialize” in certain categories of a real estate practice, like “short sales/foreclosures” or “senior housing.” Ask if the person has any educational designations and what areas of real estate they special in.
Local Knowledge – A good agent will have local information at their fingertips, including housing trends, how many houses on the market versus the percent sold, sales price trends, and a list of professionals that they do business with to help make your real estate transaction as seamless as possible.
Experience – While a certain amount of experience is important, it should be only one of the things to consider. Good agents are highly motivated and eager to earn your business in hopes of future referrals.
Is it Time to Build a Home? Questions to Ask Yourself!
There comes a time in your life when you might ask yourself, “Is it time to build a new home?” It can be a tough decision. Your current home may be “good enough.” Or you look around and there are some things that you would change to make it more livable for you and your family.
Building a home is much more time-consuming than buying an existing home. You’d need to have meetings with the builder. Make inspections. Change things. Pick out cabinets, sinks, countertops, flooring. It could take 6 months to a year.
But, if you truly want the “ideal home,” then consider building. You’ll have to make up your mind to be patient and devote the time it will take for you to work with the builder through the entire process.
And, if you like the home you are living in now but would like to change a few things, you might want to consider “modifying” it. Maybe you would like to add a family room. Increase the size of the garage. Add a second story. Change the kitchen layout or add a fireplace. One of the things to consider is the “market value” placed on your home improvements. Here’s a link to Remodeling Magazine’s website so you can compare:www.remodeling.hw.net.
Whether you decide to buy, build or remodel a home, please contact one of our experienced Loan Officers. We have a variety of products to fit your needs and will help you decide what works best.
Posted in Construction, Dream Home, Homeowner Info, Mortgages, Remodeling Leave a comment
How a Great Real Estate Agent Can Help You Buy Your Next Home
Over the years, we’ve worked with a few truly great real estate agents that have helped friends and customers through the home buying process.
There are a lot of good Realtors in our communities, but if you’re hoping to work with the best, here are some things to ask your Buyer’s Agent:
- Will they compare prices in neighboring towns, neighborhoods and subdivisions?
- Will they honestly give you the pros and cons when you narrow it down to a few properties?
- Will they immediately recommend properties BEFORE you find them online yourself?
- Will they explain the purchase agreement and other documents in detail?
- Will they preview the property BEFORE showing it to you?
- Will they be on your side when negotiating with the seller?
- Will they follow up with you after the sale?
- Will they provide names and phone numbers of people they represented?
Every buyer’s situation is different, so you’ll probably have your own list of questions to ask, but, in general, these will help start the conversation when interviewing real estate agents who will do a great job representing you when you buy your next home.
Oh, and if you would like us to refer a couple of great agents that we’ve have worked with in the past, we encourage you to contact one of our Loan Officers in your area.
Posted in Banking, Buying & Selling, Customer Service, first time homebuyers, Real Estate Agent Comments Off
Does It Really Help to Round up Your Mortgage Payment?
Recently, we’ve had clients ask us about how to prepay on their mortgage. Of course, if you have an extra $100 per month, you may just want to add that to your monthly payment.
But there’s another way…by rounding up your mortgage payment.
So, let’s say that your mortgage payment is $957. Consider paying $1000 (or $43 more per month).
Here’s the deal. You probably won’t notice the difference in your day-to-day expenses, but over the lifetime of your loan, the extra money will make a huge difference in decreasing your principal balance and save you interest. Paying an extra $43 per month adds up to $516 per year — which decreases the dollar amount you owe on the loan.
Depending on your interest rate and balance owed, you’ll also save money towards interest payments because the dollar amount of interest that you pay is directly related to your principal balance owed.
There are other ways to prepay your mortgage. You could contribute a lump sum once a year. Or make 13 payments a year (instead of 12).
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