Tips 4 Home Buyers

MLS ACCESS TO THE PUBLIC

2009-09-04T15:06:00.000-07:00

The Internet is a wonderful source for information. Through it, you have access to data on many homes currently being marketed. In fact, our website: http://www.rwallstars.com/ has a MLS search engine that you can use to find homes that are currently listed for sale. It is the most accurate source for currently available properties. But great as the internet is; it is still full of incorrect information and often property that seems to be FOR SALE has, in fact, already been SOLD. If for no other reason than that, you should work exclusively with a real estate agent and let that agent do the searching for you. Through their association with a real estate firm such as independently owned REALTY WORLD® offices, sales associates have access to resources not available to the general public. One important resource is the private Multiple Listing Service (or MLS), a subscription service available in most areas only to licensed brokers. Brokers pay a monthly fee to access and use this data.

The MLS is a Realtor Managed Database, and includes many houses that are never advertised in the classified section of the newspaper. Just as important, the MLS includes many more details about each home than could not be included in any classified ad-details such as real estate taxes and utilities. Because the MLS is a data base, the information quickly helps you narrow your search with a complete list of homes that meet your criteria for price, location, size and amenities. Using the MLS, your sales associate can also tell you the recent sales prices of comparable houses in the same area and with the details found within the mls, your associate can assess price of homes on the market and let you know whether or not they reflect a realistic market price.

GO IT ALONE or USE A SALES AGENT?

2009-08-04T12:56:00.001-07:00

“THE RIGHT AGENT MAKES
ALL THE DIFFERENCE IN THE WORLD®.”

Make no mistake about it. Buying a home is a big deal, and it can be complicated. That’s why a real estate professional can help. A good one will make a big difference. To earn a real estate license, a sales associate must complete several weeks of study in an approved course and pass a state-sponsored examination.

Not every real estate professional is a REALTOR® or REALTOR-ASSOCIATE®. Only those sales associates who are members of the NATIONAL ASSOCATION OF REALTORS® may use the REALTOR® designation.
These REALTORS® have committed themselves to that organization’s standards for professionalism and ethics.

Only you can make the final decision as to what you should offer for a house. However, because of their experience and training, a sales associate can be an invaluable source of advice and guidance as you select and purchase a home.

EXPERIENCE COUNTS

A sales associate is involved in more real estate transactions in six months than most of us are in a life-time. Even if you’ve bought and sold several homes in the past, it’s probably been several years since the last time you did. The last home sale in which a sales associate was involved may have been just a few days ago.

If you’re new to an area, a sales associate can help you get settled into your new home. After all, it’s his/her hometown, too. It’s not unusual for newcomers to become good friends with the sales associate who helped them find their new home!

Once you’ve selected the home you want, your sales associate can be even more valuable. He or she knows what is negotiable in a contract and what is not. They can help you interpret the contract, put together your offer, find financing, and then guide you through the settlement process.

In addition, because the buyer usually selects the professionals involved in the settlement, such as the escrow company, you may want recommendations from your sales associate.

Realty World ALL STARS is an "open" brokerage which means that we encourage our Agents and their Clients to shop around for the best services needed to close a transaction instead of relying on services like escrow and lending that are owned by the brokerage. Our Agents are instructed to put their Client's interests at the top of their list!

To Own or Not To Own

2009-08-04T12:06:00.000-07:00

“OWNING YOUR OWN HOME HAS
FINANCIAL AND EMOTIONAL ADVANTAGES.”

Obviously, if you’re reading this, you’re thinking about buying a new home. If you’re undecided, consider the many good reasons for owning your own home.

First are the financial advantages. Housing usually appreciates in value, and the fact of the matter is, real estate is about the only investment that almost never decreases in value.
Tax breaks? The interest you pay on a mortgage loan is one of the few interest deductions you still get on your income tax. Real estate taxes are also deductible. So are many of the settlement costs associated with your purchase, such as points or prepaid interest (more on those later). Interest paid on home equity loans is another one of the few remaining tax deductions.

You can use the equity you’ll build as your home increases in value to borrow money for such things as a new car or even college tuition for your children. That equity could also mean a down payment if and when you want to buy another house.

Each situation varies from person to person, and you’ll want to check with your tax adviser, but as a general rule, a home owner can anticipate more tax deductions, which can reduce the income taxes you’ll owe, because of the interest you’ll be paying on your mortgage. By filing the proper form (usually the W-4) less tax can be withheld, and that can mean more take home pay.

Whether you choose a single-family home, a town home, a condominium, a farmhouse, an investment or commercial property, there’s no feeling quite like having a place of your own. You can choose your community and your neighborhood. You can paint, re-paint, decorate and redecorated as much as you want. It’s your place, not the landlord’s.

Even adjustable rate mortgage payments are more predictable than rent payments! Our local market now has many homes at incredible values. This is the time to team up with an experienced Real Estate Agent who can help you search for and acquire a great home! Check out the Agents at ALL STARS. They are all Quality Service Verified and eager to help!