The Top 5 Mistakes Home Sellers Make reported by www.smartmoney.com
http://www.smartmoney.com/spending/deals/top-5-mistakes-home-sellers-make-23727/?page=2
Choosing a home is a major decision. That’s why I take the time to listen to my clients. By understanding each person’s needs and ideas, I can target certain homes in specific neighborhoods, and streamline their home buying process.
Maybe that’s why over 50% of my business comes from referrals.
I offer personal, timely service designed to pinpoint the perfect home for your unique needs and lifestyle, including:
Finding the best home for you is very important to me. Before you select a real estate professional, call me to find out more information on how I can help you.
There are many qualities that go into being an excellent real estate professional: integrity, in-depth market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work. That said, throughout my career working in your area I’ve also found that providing high-quality service is essentially about putting my clients first – by keeping myself accessible, being a good listener and responding quickly to your needs
This “client first” philosophy has always been my approach. So when you decide to sell, please call or email me. I’ll provide first-class service that will help you get more money for your home and make the selling experience as enjoyable as possible.
Here is a great example of “Why Pay Rent When You Can Own?”
If you took out a 30-year fixed-rate mortgage for $150,000 and made monthly mortgage payments of $900. You’d pay $324,000 in mortgage and interest payments over the life of the loan. And after 30 years you’d own a home with an appreciated value potential of $364,000 (at 3% annual appreciation). Keep in mind: Appreciation rates vary greatly based on local conditions.
Compare that to paying $800 per month in rent over 30 years! Even if your landlord improbably never raised rent, you would still spend $288,000 and own nothing!
In the long run, you’re probably losing money by renting instead of owning your own home. So wouldn’t you rather be building up equity in a home instead of giving your hard-earned money to your landlord?
I’m not sure if you know this, but one of the main advantages of owning your own home is that you become eligible for various tax benefits.
By the way, the financial net worth comparison, according to the U.S. Federal Reserve Board of Consumer Finance, the Average net worth of renters = $4,000; the Average net worth of home owners = $184,400.
Let us know what you think or how we can help.
Location, location, location
Where you buy not only affects the home’s current and future value, but it also affects your lifestyle. Your agent will be able to conduct a more targeted home search if you outline your preferences in neighborhoods and nearby amenities. Here’s a checklist of items you should consider and communicate to your chosen real estate agent.
When you decide where you want to live, combine the location with how much you can afford and your wish list.
Before the home search begins, your real estate agent will want to know as much as possible about the features and amenities you desire. To help your agent better serve you, analyze what you want and what you need in a home’s features and amenities.
Features:
Amenities:
Your lender decides what you can borrow but you decide what you can afford.
Lenders are careful, but they make qualification decisions based on averages and formulas. They won’t understand the nuances of your lifestyle and spending patterns quite as well as you do. So, leave a little room for the unexpected – for all the new opportunities your home will give you to spend money, from furnishings, to landscaping, to repairs.
Historically, banks use a ratio called 28/36 to decide how much borrowers could borrow. An approved housing payment couldn’t be more than 28 percent of the buyer’s gross monthly income, and his or her total debt load, including car payments, student loans, and credit card payments, couldn’t be more than 36 percent. (In Canada lenders apply similar formulas to determine how much a buyer can afford. The Gross Debt Service ratio, or GDS, is not to exceed 32 percent of the buyer’s gross monthly income, and the Total Debt Service ratio, or TDS, is not to exceed 40 percent of the buyer’s total debt load.) As home prices have risen, some lenders have responded by stretching these ratios to as high as 50 percent. No matter how expensive your market though, we urge you to think carefully before stretching your budget quite so much.
Deciding how much you can afford should involve some careful attention to how your financial profile will change in the upcoming years. In the long run, your own peace of mind and security will matter most.
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The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent’s knowledge of the overall market and what’s selling – or not selling – will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won’t leave money on the table.
Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost – in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
Eight Steps To Buying Your Home
Eight steps to buying your home1. Decide to buy.
Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. But, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.Base your decision to buy on facts, not fears.
- If you are paying rent, you very likely can afford to buy
- There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run
- The lack of a substantial down payment doesn’t prevent you from making your first home purchase
- A less-than-perfect credit score won’t necessarily stop you from buying a home
- The best way to get closer to buying your ultimate dream home is to buy your first home now
- Buying a home doesn’t have to be complicated – there are many professionals who will help you along the way
Get 7 More Questions Answered just like this by click here. You will learn the following:
10 Questions to Ask Your Realtor About Selling a House « San Diego Bonita Community
10 Questions to Ask Your Realtor about Selling a House
- Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been representing buyers? What professional designations do you have. Knowing whether or not your agent practices full time can help you determine potential scheduling conflicts and his or her commitment to your transaction. As with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but it is a good starting point for your discussion. The same issue can apply to professional designations.
- Do you have a personal assistant, team or staff to handle different parts of the purchase? What are their names and how will each of them help me in my transaction? How do I communicate with them?
