Why Use a REALTOR®?

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethicsrequires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

Green Kitchen Remodeling Tips

Reuse stuff from your old kitchen.

Take a hard look to see if there are things you can keep—appliances, cabinets, hardware, faucets, and sinks are all candidates for reuse or refurb rather than replacement. A caveat: Don't keep any faucet purchased before 1997, because it's likely to contain some lead. And dispense with any appliances more than 10 years old. Energy Star appliances are leaps and bounds ahead of their ancestors in terms of energy-efficiency.

Install an under-the-counter water purifier.

These have about 10 times the filtering capacity of a faucet-mounted purifier. A model with a top-quality activated carbon filter will remove heavy metals, bacteria, and pesticides—not to mention odors and bad tastes. Expect to pay $150 to $200 for an activated charcoal purifier with a replaceable cartridge, which is peanuts compared with the total remodel and easy to do while the project is under way.

Don't forget energy-efficient lighting.

Fluorescent and compact fluorescent lamps use up to 75% less energy than comparable incandescent lamps. In fact, according to EnergyStar.gov, a single CFL bulb will save $30 to $40 during its expected lifespan of 10,000 hours. But make sure you keep task areas well-lit: Consider efficient halogen and LED lighting sources anywhere you're planning to chop veggies or measure ingredients. Or plan a skylight overhead--the sun's still free.

Make recycling easy.

Most cabinet manufacturers offer options for lower cabinets that include pull-out recycling bins to keep contents organized and out of sight. You can even get surface-mounted bins to go underneath holes in countertops. Just sweep food scraps right in.

Buy counter-depth Energy Star refrigerator instead of a standard-depth model.

Counter-depth fridges fit flush with cabinet fronts instead of jutting out five or six inches into the kitchen. It's a way to carve out extra floor space, get a sleek built-in look, and save energy, since you’re cooling less space. And an Energy Star option adds efficiency over older models. You likely won't even notice the slight difference in capacity, although you'll pay a few hundred dollars more.

Make your decision up front, though, because counter-depth appliances often aren't standard width. You'll need to plan your cabinets accordingly.

And by the way—models featuring the freezer on top use 10% to 25% less energy than a same-sized model with a side-by-side configuration.

John Riha has written seven books on home improvement and hundreds of articles on home-related topics. He’s been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine. His 1972 suburban house has been an ongoing source of maintenance and renovation experience.

Karin Beuerlein contributed to this article. Information provided by www.Realtor.org

NEW HOME SEARCH FEATURE ON FACEBOOK!

WAIT...BEFORE SEARCHING FOR HOMES, CONTACT A LENDER!

From the desk of:

LINDSEY MARCOVICH

SEPT. 7, 2011

Pre-Approved Mortgage Loan

House hunting? Be prepared with a pre-approved mortgage loan.  

Most homebuyers miss out on one of the most important steps in the home buying process. No matter what type of real estate market, it’s always a good idea to be pre-approved for a mortgage loan before the house hunting begins.

A pre-approved mortgage loan is a lender's actual commitment to lend to the homebuyer, with specifications on the exact loan amount. To become pre-approved, consumers must provide personal financial information, such as income, debts and assets, to an underwriter. After a homebuyer applies for the loan, the lender will most likely approve the application with certain caveats. As the lender is committing to the loan amount and interest rate up front, the buyer knows they have their financing in place before begin shopping for a home. Advantages of having a pre-approved mortgage loan include:

Establishing an advantage in a competitive market. A pre-approval letter gives the homebuyer an edge in a multi-offer situation. Sellers prefer working with potential buyers who are pre-approved; they do not want a deal to fall through because the purchaser cannot get sufficient financing. An offer with a mortgage pre-approval letter carries far more weight than an offer with only a pre-qualification letter or no letter at all. In fact, sellers often accept offers of lower dollar amounts from pre-approved buyers over buyers who have not been, despite higher offers. With pre-approval, the home sellers are more confident the deal will go smoothly.

Finding the best possible type of loan. Working with a mortgage agent before looking at houses gives the homebuyer plenty of time to decide what category of mortgage product works best for his or her financial goals. Once the buyer decides on the kind of loan he or she wants and has been pre-approved for it, the homebuyer can then focus on finding their dream home.

Establishing the price range. Getting pre-approved for a mortgage enables the homebuyer to determine, prior to house hunting, how much money he or she qualifies for, thereby establishing a price range. The real estate sales associate and homebuyer can then focus on looking at appropriate homes.

Seeking comfort with the loan amount. By taking the time to seek pre-approval, the homebuyer selects a comfortable loan amount. In many cases, buyers may qualify for mortgages that are more expensive than what they feel comfortable committing to for the long-term, merely because it works on paper. It is important for a buyer to purchase a home they can afford!

CONTACT A COLDWELL BANKER HOME LOAN SPECIALIST TODAY!

Investors Bank on Rentals and Abandon Flipping | Realtor Magazine

Investors Bank on Rentals and Abandon Flipping | Realtor Magazine