Why an Appraisal???

Refinance 

Need an Appraisal??

Have you ever refinanced your home?  Saved money by not getting an appraisal?

Mortgage Office provide some comparable data that seemed legit as it showed similar size homes near by your house??

Recently, I had a client approach a mortgage officer on refinancing to get today's great interest rates.  This client questioned the accuracy of the mortgage officer's select homes to based the value of the client's home.

He was alarmed at the "low" valuation. He wondered if he should pay for an appraisal thought the mortgage officer told it wasn't necessary.

Though I don't know the mortgage officer nor which to say anything bad about him, I told my client I would take a look at recent sales.

I must note that I have in numerous occasions provide comparable home sales to clients to present to their mortgage officer as means to establish the value of the house.  As a Realtor, I know neighborhoods and can spot similar homes very easily. 

Thus, I looked at the neighborhood/area the client's home was located to find comparable sales.  In a matter of moments, I found numerous recent sales that weren't included in mortgage officer's analysis of the subject's home's value.

Though I need to advise my client that numerous of the homes were update very nicely(my client's reason for questioning mortgage officer's work), it was very evident that many better comparable to use that would

improve the refinance number.

So why would an appraisal be needed????

To establish a disinterested third party assessment of home value, the home appraiser provides the detachment and professional analysis of home features, home details, and market conditions to arrive at

fair market value.

In mortgage refinancing, a third party assessment is frequently needed as the bank seeks the detached professional analysis.  In this situation definitively needed as the bank had already "anchored" a value that my assistance would have only slowed the process.

Thus, if you have a great Realtor that stays in contact and you can trust, call him or her at your first thought of refinancing as he or she typically can provide the market information a bank will gladly take.

Yet, if you or the bank seek a detached analysis, a professional appraiser is the route to go!!!!!  And I can always connect you with an great appraiser that your bank will know and appreciate their work.

Be A Friend Today.wmv

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Buyer Preparation

Buyer Preparation

Every buyer's needs are different.   Age, family size, savings, income, school needs and a variety of similar factors that are different for every individual will make the home desired different from one person to another.

Yet, the preparation required to successfully move from a rental to a first time purchase or from one home to another is the same for every buyer.   Though the steps be the same, the time require to go from thinking of buying to closing on a new home can vary widely.

Financial factors or present housing factors are most common elements to extend the time frame to purchasing a home. Regardless, of such factors, these are the key steps for every buyer to prep for a new home:

        1. Identify characteristics of home desired.  Be specific

            on beds and baths needed, size range and areas

            of town desired. 

        2. Evaluate finaces: What is the maximum housing 

            cost that fits your budget?  What funds for

            down payment are available?  For repairs, if

            home needs repairs?

        3. Evaluate areas for home purchase by accessing 

            School websites, Crime Stats websites, City

            Websites....as you know the web can provide lots

             of good data.  Be wary though and read with a 

             critical eye.

        4.  Evaluate your personal interest and capability to  do

             home improvements as well as having the time to 

             complete any repairs to make a select house a home.

        5.  Contact a Realtor to learn about the home buying process

             in your area.  Discuss home desired and data collected

             to verify accuracy of perceptions.

        6.  Seek a Realtor that will provide immediate information on

             presently available homes and on homes yet to be listed.

             (Note: Truila, Zillow and like websites are great to begin

                 your search but a Realtor can provide the immediacy

                 of home availability that websites can not.)

        7.  Meet with a Mortgage Office and attain pre-approval letter

             for value of home you wish to purchase. 

             Note:  Essential to provide all financial data in timely 

                       Manner

             Hint:  Realtor should be able to refer you to Mortgage

                      Officer that will be helpful whether able to buy

                       now or needs to work with you over time to

                       be ready to be financially ready.

        8.  Drive by homes immediately upon receiving homes from

              your Realtor that have caught your interest.  Evaluate

              neighborhood, distance to work and other factors 

              important to you.   Always provide feedback to Realtor.

        9.    Evaluate times of day to search for homes and determine

               flexibility to alter work/personal schedule during home

               search process 

Now you are ready to begin your home search in earnest!  All is needed then is the right home at the right price in the right location

to come on the market and for you to buy!!!

Home Price Expectations

Don't be shocked!!! 

Your Realtor expectations for the market seems to accurate.  It should be no surprise as I and other Realtors must always stay atop of the market and are in "the thick of the fight" every day.

So if you are thinking of buying or selling a home, why would you contact some one who know what you need to know???

Call a Realtor today!!!

REALTORS' Expectation Versus Reality

By Lawrence Yun, Chief Economist, NATIONAL ASSOCIATION OF REALTORS

How reliable are REALTORS®’ subjective opinions of the market outlook? At the end of 2013, for example, REALTORS®, on average, expect home prices to be 4 percent higher in 12 months. Is this forecast in-line with what economists are expecting? Does this match up reasonably close to what actually happens in the marketplace? Finally, are REALTORS® consistently more optimistic, more pessimistic, or perhaps more random and volatile in their outlook than other forecasters?

The following table shows the consensus forecast of economists participating in the Wall Street Journal survey (including this author), the consensus forecast of about 3,000 REALTORS®, and the actual price change as measured by the nationwide repeat-price index from the Federal Housing Finance Agency (FHFA). The economists are making their individual projections based on various economic variables such as GDP, unemployment, inflation, housing starts, months’ supply, and other commonly available economic indicators. The REALTORS®, by contrast, are making their individual forecasts based on what they see in their neighborhood, from new numbers of listings, buyer traffic, listing prices, and other on-the-ground factors.

Time of Forecast	Economist Forecast in 4 Quarters (Q4 vs. Q4)	REALTORS® Forecast in 12 months	Actual Price Change after 12 Months from  Time of Forecast
Dec. '08	-5%	-1%	-2%
Dec. '09	+1%	+2%	-4%
Dec. '10	0%	+1%	-1%
Dec. '11	+1%	+1%	+6%
Dec. '12	+3%	+3%	+9% - 10%
Nov. '13	+5%	+4%	???

Quite surprisingly, the expectations of economists and REALTORS® are very similar, despite the varying forecast techniques. It also appears that their forecasts are “conservative,” in a sense—there are no wild swings in the numbers compared to the actual movements in the price 12 months afterward. No forecaster apparently wants to go out on a limb in making dramatic projections. Or at least the few dramatic forecasts – one way or the other – are getting balanced out such that the consensus forecasts do not show big changes.

Nonetheless, it is worth noting the slight and steady shifts toward increased optimism in forecasts onward from 2009. The actual real-world prices also improved greatly compared to the prior years. Therefore, at least directional-wise, the forecasts are projecting correctly in terms of the momentum of home price changes. In the most recent data, as of November, both the economists and REALTORS® are projecting 4 – 5 percent gains, which would mark the best optimism in at least six years. Will that mean an even stronger actual price growth in 2014 than what we have observed in 2013 of near double-digit price appreciation? Probably not. Even though more jobs are being added to the economy with each passing month, housing affordability is getting hit from rising mortgage rates and stagnant wages. The likely scenario is for actual price increases to slow, such that they match up with the “conservative” forecast of economists and REALTORS®. 

Regionally, there are notable variations in forecasts amongst REALTORS®. Stronger price gains are anticipated by REALTORS® in Arizona, California, Florida, Georgia, Louisiana, Massachusetts, Michigan, Minnesota, Nevada, North Dakota, Rhode Island, South Carolina, Texas, and Utah. The actual price increases have, so far, in 2013 been generally stronger in these states. But let’s wait and see if this trend continues or if REALTORS® are making their forecasts based on what they see in today’s conditions and not based on the likely developing conditions of the near future.  

Lawrence Yun is the chief economist for the NATIONAL ASSOCIATION of REALTORS®. He will be sharing his insider insights on the national and regional housing markets in this new, exclusive column for the Power Broker Report.

How to Choose a Realtor

                              How to Choose a Realtor

Whether purchasing or selling a property, whether your personal home or an investment property, you no doubt want to ensure you have the best representation possible.

Without a doubt, the Realtor you select should be personable and friendly...someone that you are comfortable with as a person.

Yet, being a nice guy or a swell lady doesn't necessarily mean the person has the skills, connections and experience to provide the excellent representation you deserve.  Same can be said that the cranky guy may be a bit tough to handle but boy could he do you a great job!!

As you meet Realtors at open houses, or via calls to a Real Estate office, you should be prepared with your questions that can differentiate the pretender from the real deal.

Here is a list of questions that I might suggest.  You should feel free to add to this list as you deem fit.

                Qualifying Questions to ask a Realtor

 1.  Are you a Realtor?   If yes, what value does it have to me?

 2.  What percentage of your potential commission will go to                   advertising/marketing my property?  What sources do you use           and why?

 3.  Where does your company rank among the Real Estate 
      Companies in "your market"?

 4.  What service(s) does your company provide that differentiate it
      from your competition? 

 5.  How many offices and Realtors are associated with your firm? 
     What advantage is that to me?

 6.  Describe your Buyer Pool?  How will that impact the sale of my 
      house?

 7.  How do you ensure I know the available homes I might 
      purchase?

 8.  What Relocation Assistance can you provide?

 9.   What specific experience do you have selling this
        neighborhood?
    
10.  How do you:
       a) Ensure I don't move until I'm ready?
       b) Ensure only qualified buyers see my house?
       c) Ensure I only see homes that I can afford?
       d) Ensure a potential buyer has sold financing?

11.  How does the Standard Purchase Agreement work in my 
       favor as a seller?   As a buyer?

12.  Where do you rank in your company in sales and listings? In
        the broader market?

13.  How many years have you been a Realtor?  Number of 
       Circle of Excellence Awards or any other awards?

14.  Do you have letters of recommendation that you can provide
       or websites where you have been reviewed?

By asking these questions, you will quickly learn experience, knowledge and success a Realtor possesses.  Very valuable information  as you begin working together to make a smooth transition to your new home.

SOLD...Is The Only Word that Counts

  Sold

          Under Contract

                           Pending

These are the only words that matter to a Home Seller.  Yet, the only word that really counts in "Sold".

With the improving real estate market, home buyers truly hope that home owners will be come home sellers in 2014.  The Housing Shortage has continue all through 2013.    Perhaps, home owners didn't believe "Sold" was a true possibility and still walking away with a couple of dollars in their pocket.

In most cases it was in 2013!!  

A truth proven again and again, five factors are common to ensure a home sells.

   *  Knowledge of ever changing Real Estate Market

   *  Competitive pricing

   *  Compelling Offline and Online Marketing 

   *  Large Buyer Bank

   *  Realtor Network

   National Stats, as well as local realities, are that listing with a Realtor nets Sellers about 16% more than if they go it alone.

Imagine selling a $300,000 home and leaving $48,000 on the table.

Did you know that Buyers learn of a home as follows:

    40% Internet(88% start process online)

    35% Agent/Realtor

    11% Sign in Yard

      4% Home Builder--New Home Sites

      6% Neighbor/Friend/Neighbor of Seller

      3% Print advertising

      2% Seller

As you can see, Realtor advertising, online presence, networking brings the buyers!!!  A very low percentage learn of a house directly from a seller.  

Knowing the market place and helping Sellers establish competitive sale prices ensures the house is prepare to match Buyers' expectations when drawn to a given house.

Thus, sellers should be very wary of losing money believing they will be saving money.  For example, languishing on the market due to overpricing can cost an individual with a $2000 house payment to loose $8000 or $10,000 of house payments that can be avoided through proper property pricing.

No one wants to waste money!!!

Remember to get to "Sold"    Call a Realtor!!

In Hampton Roads, you can call me at 757 580-6546 

       

  

Improving Home Values

More great new!!! After you read this, call me if you need to know the equity you have in your home. Call 757 580-6546!!! BALANCE SHEETS ARE IMPROVING FOR MANY HOMEOWNERS

Topic Summary: A report released this week by the Federal Reserve indicated rising home values are improving the overall net worth of many Americans. (See below on how to get a snapshot of your home's value) The Federal Reserve is out with their 2ndquarter analysis of household net worth. The Reserve states that as home values rise, many groups in the economy are doing better than previous quarters, including Homeowners. U.S. households' net worth - the value of homes, stocks and other investments minus debts and other liabilities - rose 1.8% to $74.82 trillion in 2ndquarter of this year, according to the report. That is the highest level since records began in 1945. Caution is advised here for those that do not feel this "increased wealth". A large percentage of the growth is in the form of investments as the stock market has been doing well in recent quarters. For most, the home represents their largest social and economic investment. A high tide, however, does not help all homeowners. In the 2nd quarter of this year, the value of residential real estate owned by households increased about $525 billion. There are approximately 12.2 million homeowners who still owe more than their homes are currently worth. The tone of the report, FOUND HERE, appears to be that things are getting better for homeowners because higher home values mean more home equity. The national median existing single-family home price was $203,500 in the second quarter, up 12.2 percent from $181,300 in the second quarter of 2012. (Source Nat. Association of Realtors) How to arrive at a rough estimate of your Home Equity.  Even though Home Values have risen in most all parts of the country, they are still not back to the levels found in 2006 and 2007 before the housing crash. There are only two values you need to arrive at your home equity: What your home is worth and what you owe on it. Your recent mortgage statement will tell you what you owe as a first mortgage, then add in any home equity loans or 2ndmortgages. Subtract this figure from what the fair market value for your home is. You can get a quick analysis done by the real estate professional that enrolled you in HomeActions. On the left you can click their email link or call your Realtor. When it comes to households that are underwater, Core Logic's latest Equity Report indicated that 2.5 million homes have "returned to positive equity". This is good news for the real estate market because it means more homeowners may be willing to sell their home for a profit and fewer homes will get foreclosed on. Negative equity is when the value of your home is less than the outstanding balance of the mortgage. The amount of homes that remain in negative equity is only 14.5% for the second quarter of the year. This fairs very well when compared to CoreLogic's  last report showing 19.8% underwater households in the first quarter of 2013. In the last year, the number of negative equity households dropped 33%. Courtesy of Al Clark's HomeAction Newsletter

How to Mess Up Closing on Your Home

You may wonder why any one would write on how to ruin one's closing day.   The trucks packed, the utilities are changed and the buyer and seller are ready to move on.  

"So who would stop closing for what good reason?? "  You may ask.

You would be surprised!  Some of the most unbelievable statements
that I have witnessed or heard from compatriots that killed or delayed a closing to every one's frustration:

*   I didn't know I was to leave the ceiling fans
*   The storm last week broke two of the windows.  We should
         have told you?
*   Why can't a bank close in 5 days?
        Note: Bank changed mortgage company a week prior to closing

*   My "advisor" told me not to close today. I should wait until 
         a Tuesday.
*   We needed to have the house empty today??    But our truck 
        doesn't come to Friday!  I thought we were only closing today.
*   Title wasn't order until Friday(Monday closing) so we can't
        close for at least two weeks
*   Of course, the yard is a bit overgrown.  I have been busy 
        packing.
*   I was suppose to clean?
*   The cabinets weren't wiped out!  I am not going close!
*   The garbage cans our full at the curb!!! I need them emptied
         now!
*   I decided to get that survey you mentioned(two days prior 
          to closing).
*   The underwriter had a headache and went home early yesterday
         so we need 48 hours to finalize the loan.
*   The seller won't sell for that now(contract price).

Hard to imagine isn't it?   Fortunately, all of these can be avoided!! Fortunately, I have faced only one of these and the rest were from a broad swath of compatriots.

If you are a buyer or seller, be aware of the ones you can prevent when you are looking to buy or sell.

As a Realtor, I help buyers and sellers avoid such pitfalls by explaining the process and keeping them fully updated and informed.
Yet, as currently running car commercials,we are working with humans...and any of us can make a mistake!

Beware the Contractor!!

In case you missed it!!!    Another article on being careful on who works on your home.

As the article notes, call or email me if you need a contractor.   As a Realtor, we have some one for almost any job.

CONSUMER WATCH: IF IT'S TIME TO CALL IN THE PROS- WATCH OUT! (courtesy of Al Clark's Newsletter)

Topic Summary: When it comes time to hire a professional to fix major systems in your home, there are several precautions that you should be aware of. The first, don't let your systems degrade to the point of having an emergency. Do some periodic maintenance. Second, look to your HomeActions sponsor as a source of local trade pros that will do the best work. (On the left side panel, just click SEND EMAIL) In this NBC undercover video, (click on image)(can't do anything about the ad)  a staged homeowner calls six contractors to come out and check her AC unit that has been found to be working just fine.  Watch and see how the situation can quickly get out of hand. The Air Conditioner Contractor Association has some good tips here  It's not just air conditioner contractors. Anytime you are dealing with professionals there is a chance of inflated estimates, bait and switch on parts, shoddy workmanship or poor follow-up maintenance. But it doesn't have to be that way.  There is a Network!  Your real estate professional that provides you this service probably has a network of plumbers, roofers, electricians and other trade professionals that they deal with on a daily basis. Part of the process in helping consumers sell and buy homes involves working with these types of professionals. This informal network can help you because these professionals need to be referred by real estate agents all the time. If word gets around, and Realtors talk to other Realtors, that a particular contractor is fly-by-night, or a painter is very sloppy, a lot of potential business is at risk. Ask your Realtor for recommendations before you hire a professional. Houselogic.com, a service of the National Association of Realtors has some great resources on the topic

How to Pick a Realtor

To the general public, this may seem a dicey issue for one Realtor to get into about all Realtors in general.

Actually, choosing a Realtor is a common event every day of every year.

In 2013, it is clear more individuals and families are seeking Realtors to find a home than those seeking to sell a home.  Yet, this fact will change when home owners understand that we really do have a shrinking inventory of homes.

So how does one pick a Realtor:


        *     Seek a referral from a trusted friend, co-worker or
                 family member

        *     Ask a neighbor about the Realtor that helped them
                 buy or sell the house(as the case may be)

        *     Seek personal references of any Realtor interviewed

        *     Seek data on Realtor/Realtor's Company's market
                 share AND have Realtor explain the advantage to YOU.

        *     Google the Realtor's name

        *      Know Experience and Designations(Training) counts
                  
        *      Know Experience isn't everything....repeating one year
                    for 30 years may not match a buyer's or seller's need

        *      Evaluate listening skills and interest in YOU!

        *      Evaluate experience with similar situations(i.e. Short Sales
                  First Time Home Buyer,  Luxury Homes, etc.)
      
        *      Evaluate knowledge of present market conditions

        *      Evaluate "Likeability"

Your list of check points could be a bit longer but these points will help you find a Realtor that meets your specific need.

          
                
       
 

Housing Trends eNewsletter- Bryan Cerny

Click Read and Enjoy the April Newsletter.

Tips and Hints on the House

Difference between Licensee and Realtor

What's Happening in the Local Real Estate Market

And Much more

Housing Trends eNewsletter- Bryan Cerny

Ready to Buy...Listen to Quick "Ready Tips"

Ready to buy at home?

There are steps to get  ready

Listen and learn

Homeowner's Associations..Your Friend?

Home Essentials December 2011

Bryan Cerny Rose & Womble Realty Phone: (757)580-6546 Email Bryan Visit Our Website   Homeowners’ Associations – Friend or Foe? You’ve probably heard the horror stories—homeowners’ associations nitpicking about insignificant details, tying up property sales with costly lawsuits, or enforcing expensive and unexpected assessments. But, homeowners’ associations (also called HOAs) can help protect property values, provide great amenities that you couldn’t afford on your own, get you involved with your community, and keep your neighbors from parking cars on their front lawns. Whether you love, hate, or don’t know much about homeowners’ associations, if you’re thinking about purchasing a home that is affiliated with one, it’s important to do your research. Before you sign on the dotted line, ask these important questions: Does this home belong to a homeowners’ association? This question isn’t as simple as you’d think—HOAs aren’t just for condominiums. Don’t assume that just because you’re looking at a townhome, single-family home, or vacation property that you’re in the clear. In fact, according to the Community Association Institute (CAI), four out of five houses built since the late 1990s have an HOA. Can I see some documentation? Ask to see the community’s Covenants, Conditions, and Restrictions, commonly known as CC&Rs. These documents are the association’s governing rules, and explain protocol and regulations that officers, homeowners, and tenants are expected to follow. In most cases, CC&Rs are legally enforceable. In addition to reviewing the CC&Rs, ask to see recent meeting minutes and up-to-date financial statements. These documents will let you know if there are any upcoming assessments in the works and help you determine the overall financial health of the organization. How are the HOA’s finances managed? How much can I expect to spend? A well-organized HOA should make very clear the financial responsibilities of its members. Are dues billed monthly, quarterly, or yearly? How much are they? Are there late fees? If a homeowner violates a regulation, are there monetary penalties? Are there limits to the dollar amount and frequency of one-time assessments? What do my dues cover? Inclusions vary dramatically and it is safe to assume that the lower your dues, the fewer services, amenities, and utilities are included. In a traditional condominium association, dues may likely include water, cable, ground maintenance, trash, sewer, recreational amenities, parking, security, and more. HOAs in neighborhoods with single-family homes may cover sidewalks, landscaping, and common areas. Ask to see a comprehensive list of what is included. How do you like the HOA? Hit the pavement and ask neighbors about the association. How is the leadership elected? Have you had any negative interactions? How common are expensive assessments? Can I follow all of the rules? Before you commit to living in an HOA-affiliated building or neighborhood, take an honest look at the rules and make sure that you are comfortable following every single one. Make sure that your lifestyle fits with the HOA’s parameters. For example, if you’re buying vacation property, make sure that the HOA doesn’t have rules limiting or forbidding owners from renting their property. Homeowners’ associations can be a good influence on your condo or neighborhood, but only if everyone follows the rules. Understanding the rules and responsibilities before committing to a purchase is crucial to happiness in your new HOA-affiliated home.

Regardless of the field of knowledge, we always look to an expert to provide us the advice and direction to be successful.  Just look at how many of us watch HGTV, Doctor Oz and go to Personal Trainers besides seeking the best lawyers, doctors and dentists that we can find.

In the same way, in buying or selling real estate, one needs the expertise of someone who can guide him/her through the intricacies and complications of a real state transation while have his/her very best interest in mind.

Yet....

                             How to Choose A Realtor???

Key Questions to ask is Selling Your Property:

1.      Are you a Realtor?  If so, tell me what value it brings to me.

2.      What percentage of your potential commission will go to advertising my property?   What sources of advertising do you use and why?

3.       Where does your company rank among the Real Estate Companies in

   Southside Hampton Roads?

4.      What services does your company provide that differentiates it from your competition?

5.      How many offices and agents are associated with your firm? What advantage is that to me?

6.      Describe your Buyer Pool?  How will that impact the sale of my house?

7.      What Relocation assistance can you provide?

8.      What assistance can you provide in me preparing my house to sell?

9.      What specific experience do you have selling in this neighborhood?

10.  How do you:

1)      Ensure I don’t move until I’m ready to move? 

2)      Ensure only qualified buyers see my house?

3)      Ensure the potential buyer has solid financing?

11.  How does the Standard Purchase Agreement work in my favor?

12.  Where do you rank in your company in sales and listings?  In Hampton Roads?

13.   How many years have you been a Realtor?  Number of Circle of Excellence Awards or other awards?

14.   Do you have letters of recommendation that you can provide?

Prepare for the Move...Or Suffer the Consequences!

Stress Free Move to Your New Home (edit/delete)

So you found the perfect new home!!! Now the hard work begins...and I am not speaking the inspections, loan and closing. Though there is some effort to move through these steps, your Realtor will do most the heavy lifting and provide assistance along the way. Rather it is:

                                                     THE MOVE TO THE NEW HOUSE

Packing up your things and moving them to the new place can be fraught with varied emotions and involves a list that can see endless. So you could be tempted to take a pass on seriously evaluating this part of the transition. And you could find both your peace of mind and wallet to take a huge hit in the process.

If you have never moved(or it has been years), you may not know: Moving can be quite expensive. According to the American Moving & Storage Association(www.Moving.org), a intrastate(move within same state) can cost around $2500 while an interstate move typically is $4300 for a full-service move. Then add the challenge of the class of movers termed "Rogue Movers" discussed on 20/20 and like news programs, you could be part of the notorious fraud and dirty tactics seen in the moving industry. Rest assured, there are many reputable moving companies. But like in all industries, you have watch out for the bad eggs.

Here are some tips to make your move simple and reduce the hassles:

• Choose the type of move:

1. Do-it-Yourself: U-haul, Hertz etc---trailer behind the car up to 40' to 45' truck
2. Full Service Move: Moving Company does work; $/mile instate; weight & mileage across state lines. Extra service for extra fees.
3. Hybrid Move: Mover drop container, you load, they haul to new location, drop container for you to unload.

                Do-it-yourself is least expensive but takes a few friends. Hybrid move is more expensive but  

                substantially less than Full Service as you do all the heavy lifting.

• Hire a Quality Mover. Get references regardless of the type of move. This is not the time to go down the Yellow Pages or simply to Google movers in Chesapeake, Virginia. Friends, your Realtor and web rating sites are good reference points. Facebook your friends...go to Angies List or even www.Moving.org. A moving company's reputation does count.

• Be Flexible. As is typical in service industries, flexible dates can help you save money. Pick the busiest time for the mover, pay more. When is that: summer weekends near mid-month and last weekend of month. Move mid-week or in the winter to save money.

• Throw Out and Lighten the Load. De-cluttering the house and cleaning out garage and storage areas prior to the move will eliminate paying to move "junk" that you give away or sell after you move. It could have the benefit of improving your home's appearance in the selling process. Nice bonus, huh!

• Consolidate. On long haul out-of-state moves, check into consolidating your move with another move enroute or to the same destination. Frequently, your move doesn't fill a truck(or God forbid you didn't declutter and you started a 2nd truck) so another person's move may share the trip. This can reduce your cost!!!

• Insure the Load. First check any homeowners/renter policy for move-intransit coverage. If not, talk to the moving company. Typically the standard insurance is $.50 to $.60/lb. So have a 100 dining room table crack in half, you get $60. Get Replacement Coverage Insurance. Check moving company against outside sources as rates vary. Movers usually are competitive.

• Don't Pack the Books. Mailing is so much cheaper....imagine that!

• Beware the Cost of Boxes. Ask the Mover for used boxes(they did just unpack someone yesterday) or get free ones from somebody who just moved(Ask your Realtor...they have their connections!!)

• Be Prepared!!! Mark all boxes by room location in the new home. Prepare a layout of the house with locations of all major pieces of furniture. Having the mover wait, relocate, wait, relocate furniture as you ponder the best location for your California King Bed will cost you more.

          If moving to metro area or any area where parking is tight, talk to neighbors(or ask Realtor, if
          needed), to move cars to allow room for moving truck. Or as might be needed in some very dense
          metro area, save the spot with your cars or cones or friends as may be the case!!!! If the mover
          must carry boxes an "excessive distance", there could be a surcharge.

• Tax Implications. If the move is job-related,negotiate the best relocation package and then look at the unreimbursed costs for tax implications(check Publication 521 Moving Expenses via IRS.gov)

• About the Tip. Typically one should tip the driver and each helper if deserving. Various sources note a $2-$5 per hour rate. Sound high? Think about your heaviest piece of furniture and having to move it yourself into and out of the truck(they did both ends of the move). It may not seem that expensive!!

Key Rent vs Buy Decisions

Rent vs Buy  dilemma has haunted 1st time home buyers forever.  Yet, for the uninitiated home buyer, this has to be an expected challenge.

At face value, buying a home is a better decision than renting one. With a home purchase, the buyer has a key opportunity to gain equity(value) as the first step of his future financial success.

 Anyone who has rented for more than 6 months quickly realize that they may as well as light a match to the rent check as they are gaining no value from the rent payment other than a roof over their head.  Typically, the home owner can expect to receive a 2 to 5% return on their investment in a home ever year.

Though the bubble of the early part of 2000s has cause this paradigm to be turned on its head for some people,  this by no means suggest that home ownership is worse than renting.  It just "aint' true".

 Key Advantages to Home Ownership:

• Initial "One Month" Grace Period between last rent payment of prior month and 1st Home Mortgage Payment
• Tax Benefit -- Mortgage Interest Deduction can lower taxes, increasing refunds significantly.
• Improved Credit Score
• Improve Ability to Qualify for other credit purchases....buy a house and the car dealership will darn near       give you a car!!!
• Improve the Community...home owners take care and improve a neighborhood
• Possible Equity Growth assist housing market through move-up purchases as lifestyle, job transfers/promotions and family needs permit

Yet, the prep for the renter to become a home owner is paramount!!!

• Clean up Credit Report; Raise credit score above 600(minimum)
• Take 1st Time Home Owners Class
• Learn about Mortgage Types, Down Payments and Qualifications
• Save...Save...Save  Downpayment and Closing Costs
• Investigate areas of town that interest the buyer and are within the purchasing power of the buyer
• Be employed in the same field, preferably the same employer, for a minimum of two years.  All mortgage applicants should meet this requirement.
• If Gift to be provided by Parents or another family member to make the home purchase, find out guidelines and stipulations now.
• Know that unlike renting, home ownership is a long term commitment.  Purchasing a home for one year prior to relocation out of town will be financially disastrous for most buyers...think 5-7 years.

Selecting a Realtor like me early in this process is invaluable for the 1st Time Home Buyer.  The Realtor can help the renter prepare to buy and guide him/her through the steps noted above.   Every buyer's needs are specific and the Realtor will ensure those needs are met!!!

 

Prepared for the Millennials(Generation Y) Assault on Real Estate??

Perhaps you have heard of the Millennials(individuals born between '80 & '95).  Maybe you raised two or three of them!

Yet 74 million strong, they rival their Baby Boomer parents/grandparents as the largest home-buying consumer "class" of all time.  

If one of these 74 million Millennials is the buyer, how will they find your home?  I assure you it won't be in the paper!   But they are an inquistive bunch as they have found that they can "Google" anything and can "Facebook" to learn about anyone, so they will love to come to your open house.

Many of the Millennials will be your 1st Time Home Buyer or look to move up to their second home(Very Mobile!).

So be sure you have a Realtor who will reply to a text question or email(if they bother with it) quickly...or they will move on to the next house...instant answers and high service are required by these buyers!  But beware "assuming" one buyer of this age group is like another!!   You'll suffer for it if you do!

Ensure there are lots of photos and/or tour and/or video of the home. Seeing is believing...if I can't see it, I don't believe.

So be smart, list your house with a Realtor that is tech savvy...if he or she says they are it will be very apparent...just "Google" them today!
If he/she isn't there with their website or their listed homes don't come up immediately, you will know!

And yes, that is how this group of home buyers/sellers could find their Realtor to sell a home they now own..but they are onto Facebook, LinkedIn and beyond to get "comfortable" with who this Realtor is!!

They are a savvy group!!   A wonder and a pleasure to work with!!!!