Bill Williams-Broker,REALTOR's Blog

New Stats for Catawba Valley

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 08 Mar 2010 09:52:39 -0800

I just updated the Housing sale stats for the Catawba Valley in North Carolina on my website. It's a little bleak but there always bright spots for those looking to move up.

See the details at www.BillWilliamsRealestate.com

THIS MAY BE YOUR TIME TO MOVE

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 15 Feb 2010 10:39:53 -0800

Have you been thinking about moving but don't know if the time is right? The opportunity you've been waiting for may be here. Because of low interest rates and government incentives, more potential buyers have been looking around. And since you may qualify for the new $6500 tax credit also, this may be the right time to move on or move up.

Even though you may have to discount your house to sell it, you'll get a greater discount on the house you buy. And if you lose money on the house you sell you may be able to write those losses off on your taxes and put that money in your pocket. The rewards will be much greater on the house you buy, and in the end it will mean more money in your pocket and likely increase your net worth.

Don't let the current housing market stop you in your tracks. Use it for your financial benefit and take advantage of the opportunities that exist for you and your family.

But you won't know if you don't get moving. What's stopping you from putting your house on the market now? If it doesn't sell, it costs you nothing.

COMMERCIAL PROPERTY INCENTIVES LURE BUSINESSES TO HICKORY, NC

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 10 Nov 2009 16:37:56 -0800

As Hickory, NC strives to deal with low employment and a high vacancy rate of commercial properties, the city and the Economic Development Corporation have been creating incentives to lure business to the city. In 2007 the Hickory Fire Department asked the city if there was a way to reduce the number of vacant commercial buildings it monitors. The city in turn came up with an initiative dubbed "Operation No Vacancy".

The Redevelopment Committee was formed which included representatives from the city manager's office and the planning, fire, community, economic development, public services, and Catawba County building services departments. The committee's major work focused on five areas:

* enhancing the vacant building inventory that was developed in 2007

* designating a commercial revitalization area

* creating a vacant building revitalization grant program

* unifying existing redevelopment programs

* reaching out to stakeholders

Several programs were developed as Part of the initiative.

* a 50% fund-match up to $25,000 for exterior improvements of vacant buildings within the Commercial Revitalization Area (CRA)

* a 50% fund-match up to $5,000, for apperance improvements in the CRA

* a 50% fund-match up to $2,500 for landscaping

* 100% grant for net gain property tax revenue for 5 years for properties in the CRA that add new jobs and invest more than $500,000

As with any government programs, there are procedures that must be followed. For the $25,000 grant, a simple application is submitted with cost estimates of the work to be done. The Redevelopment Committee inspects the property and discusses the work to be done. At the same time represetatives from the fire department, public services, and Catawba County building services inspect the building for fire and safety code compliance. The tax-payer is providing the funds and so it makes sense that their interests are protected. After all, it would be foolish to provide money for a project only to have the building burn down because it didn;t meet the current fire codes. These inspections would be required anyway and the committee can advise the owner if any necessary code repairs can be covered by city grants. The committee then meets, with the owner present if desired, and approves the eligible repairs and improvements.

The grant is a reimbursement program. Fifty-percent of the grant is distributed when the improvements are completed and the rest when the building is occupied.

The program has been successful. So successful in fact that it has received the The City of Hickory received a national award for its Operation No Vacancy program during the Alliance for Innovation conference on Transforming Local Government in Corpus Christi, Texas in May, 2009.

The Alliance for Innovation is an international organization that highlights innovative programs and best practices from every aspect of local government. Alliance for Innovation emphasizes the importance of working across department and agency lines to develop new processes that improve the performance and efficiency of local government. Operation No Vacancy received an "Outstanding Achievement in Local Government Innovation" award.

Hickory also has the Brownfield Program. This is a grant program designed to help with Phase 1, 2, and 3 environmental programs.

As Hickory has worked hard to attract business to the area, it has become one of the least expensive cities in the country to do business. For more information on doing business in Hickory, NC and incentives to relocating your business here, visit http://www.hickorygov.com

MOVE OUT, MOVE IN!

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 10 Nov 2009 14:08:12 -0800

The home-buyer tax credit has been extended and expanded! The government has extended the $8000 first-time home-buyer tax credit for buyers who have not owned a home in the previous three years. And homeowners who have been in their house for at least five years may qualify for a $6500 tax credit. And under this program you NEVER have to pay it back! Use the money for improvements to your home, retirement, or whatever you'd like!

GET MOVING!!!

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 10 Nov 2009 13:40:03 -0800

Have you been thinking about moving but don't know if the time is right? The opportunity you've been waiting for may be here. Because of low interest rates and new government incentives more potential buyers may start looking around. And since you may qualify for the new $6500 tax credit also, this may be the right time to move on or move up. But you won't know if you don't get moving. What's stopping you from putting your house on the market now? If it doesn't sell, it costs you nothing.

Call, email or text anytime to get started

PRICING YOUR HOME

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 15 Oct 2009 17:43:06 -0700

I had mentioned that it might not be the best time to sell your house. If there is no pressing need to move and you can afford to stay in your house, then you might better served to tay in your home for awhile. But if you need to sell and can afford to sell it there are some good things to consider.

Some homes sell quickly and some don't. Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price. If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and "shows" better than the competition, it will have a better chance of being sold quickly. The secret is perfecting a technique that's as American as apple pie: comparative shopping.

Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it's one of the best methods to use when determining a home's market value. A responsible real estate agent will effectively evaluate a home's worth through a process known as Comparative Marketing Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called "comparables," that have sold in the area within the last six months. Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonab

However, factors such as the amount of time needed to sell your home can alter the agent's price recommendation dramatically. Typically, people should check with real estate offices in the community to determine the typical duration that listings are on the market. Sales associates will explain that the marketing "norms" vary with prices and properties. Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with. However, if you're under time constraints because of unexpected job changes or moving agreements you've made on another property, this will narrow your chances of selling the home for top dollar in the market.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property. The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to shore with you. A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you've picked is a good gauge of the home's worth and won't discourage qualified buyers.

Being open and honest about what you see as the home's greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you're well on your way to a speedy and fruitful sale.

REALTOR STATISTICS

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 15 Oct 2009 17:14:27 -0700

THESE SERVICES ARE PART OF THE SERVICE REALTORS PROVIDE

-REALTOR.com has 1.3 million members, and statbrain.com estimates REALTOR.com gets 1.6 millionhits per day.

-CENTURY21.com receives over 2 million hits per month and the average visitor views the site for almost 20 minutes.

-ZILLOW.com and TRULIA.com are real estate websites used by real estate agents to list and search for homes for their clients.

-Activerain.com is a real estate agent web site where agents share information, listings and services via blogs and profiles.

-BillWilliamsRealestate.com is my website which offers VIRTUAL TOURS of your home for free.

-VIRTUAL TOURS are used by out-of-town buyers to see your home before they even arrive into town.

Hickory Home-Sales Statistics

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 15 Oct 2009 17:07:30 -0700

INVENTORY IN THE CATAWBA VALLEY

2,231 houses are currently for sale.

100K-150K, 8.4 mos.;151K-250K, 11.9 mos.

251K-400K, 25.6 mos.; 401K+ 46.6 mos.

AVERAGE DAYS ON MARKET(DOM)

634 houses were sold in the last 3 mos.

$100K-$150K, 157; $151K-$250K, 167

$251K-$400K, 197; $401K+, 220

PERCENT SOLD BY A REALTOR

(national average according to national statistics)

93-97% of all homes are sold by a REALTOR.

THIS MAY NOT BE THE TIME TO SELL

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 15 Oct 2009 16:56:51 -0700

There are some buyers who want to sell. They want to move on for whatever reason. There is an area they might like better or a different school district or they might want to upgrade to a new home. But if they sell now they might be leaving money on the table. The market is down 14% in our area in the last year. If the market recovers that in the next year like some advisors and economonists predict, that's $21,000 left on the table for a $150,000 house. That's money that can be turned to equity and used for a down-payment in a year. I doubt most of us could save up that kind of money any other way.

There is a young couple that was desperate to sell in the spring. She lost her job and they had too many bills. They really can't afford to sell given the current market. With home prices down they are upside-down on their mortgage and they don't have money to bring to closing. At first, they were behind on their bills and possibly considering a short-sale. Now they have gotten caught up, sold some stuff and the financial pressure is off.

But there is a different area they want to live in and they still want to sell. In fact if they could afford it they'd sell at a loss for the opportuniy to move to another area, even though they're getting ahead financially now. All they need is a little patience and time and a market that will bounce back. In their case, it will be worth it in the long run to wait. There is no pressing need to move now. So in the mean time their house is listed above market in the hopes they can move on sooner.

Then there are those who are WAY up-side-down. Folks who bought a house for $500-thousand and now it's worth $300-thousand. They afford they payments, have a good job, like the area and have no need to sell. But they just can't stomach the fact that they are upside-down on their home. They were going to sell in five years and make a profit, now they may have to wait ten years to break even. So they just bail on their mortgage and walk out of their house for no other reason than their pride.

The first home owners are impatient and maybe a little immature but they're doing the right thing and waiting. But the second are selfish, walking out on their responsibilities, leaving the banks and even tax-payers holding the bag. They should just deal with it, be patient, and preserve their credit.

I would love to sell every house presented to me, but I feel I have a responsibilty to encourage sellers to do the sensible thing if they are able. Sometimes it's just best to wait.

BE INFORMED AS A BUYER

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 15 Oct 2009 16:12:58 -0700

Buying a house? Before you start looking at houses and thinking about real estate agents there are some things you ought to think about.

First of all, remember an agent is not necessarily on your side. Most buyers see a house they like and call the agent on the sign. The agent shows them the house and the buyer decides if they like it or not. If they do like the house, the agent helps negotiate the deal, schedules the inspections and does the leg work to facilitate the closing. Little does the buyer know that the agent is working for the seller and has no obligation to the buyer. The deal closes, the buyer moves in and never knows no one was on his or her side.

Even if the buyer doesn't like the house, the agent tries to keep working with the buyer to sell them another house, even if it's listed with another agent. After all, an agent has access to all homes in his or her MLS region.

In my state of North Carolina, agents are required to disclose all aspects of agency to all parties involved. At first subsantial contact we explain the different roles of agents in a transaction and who represents whom. Also, what each party's responsibilty, right and obligation is. In a given transaction we explain the specific roles of agents in a given situation; who represents whom, who pays who, and full disclosure of each persons fees and commissions.

This is where the written buyers' agreement is useful. A buyers' agreement protects you, the buyer. It keeps your confidential information confidential. Say you don't have an agreement, or the buyers' agreement is verbal. If for some reason you stop working with the agent you THOUGHT was working for you and then you find them working on the other side of your transaction, they are REQUIRED BY LAW to disclose everything they know about you as it relates to the transaction including your financial situation and motivation for buying.

As agents as a whole, we do a pretty good job keeping everyone in the loop. But there are those who are negligent in disclosing the required information. Whether it's because it's awkward or because we don't want to scare away potential clients, some agents are reluctant to explain the detais of agency.

Buyers, don't be intimidated by paperwork, Be fully informed and have your interests protected. Make sure a written includes the ability to fire your agent. Be engaged in the process, know who works for who and who is geting paid how much.

It's in your best interest.

YOU MUST MOVE NOW TO GET THE $8000 TAX CREDIT!

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 24 Sep 2009 10:19:46 -0700

Currently the government is offering tax credits up to $8000 for buyers who have not owned a home in the previous three years. And under this program you NEVER have to pay it back! Use the money for improvements to your home, retirement, or whatever you'd like! There is talk that this may be extended, but it is not for certain.

In order to get the credit you must close by November 30. That means you need to be finding a home and lining-up financing now to have time to take care of all those last minute details that seem to pop up right before closing. Don't miss out on this opportunity to have a home when prices are the best they've been in a long time! And, best of all you can actually get some of your hard-earned tax dollars back in the process!

www.BillWilliamsRealestate.com

OPEN HOUSE at the BEST-LOOKING OFFICE in NC

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 24 Sep 2009 09:41:07 -0700

Century21 American Homes in Hickory, NC was selected BEST-LOOKING OFFICE in North Carolina. Today, September 24 we celebrate our one-year anniversery in this beautiful office with an OPEN HOUSE, and invite you to come by and join in the festivities from 4 -6 pm. We are located at 2258 Highway 70 SE, Suite 201 next to the world famus Hickory Furniture Mart and across from The Olive Garden.

Light Fare and Beverages will be served, so swing by on your way home from work or shopping.

www.c21americanhomeshickory.com

http://www.visualtour.com/show.asp?t=1999768

PT for WOUNDED WARRIORS INSPIRING

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Thu, 24 Sep 2009 09:29:44 -0700

This is something I found on an aviation forum and think it is worth sharing. I don't know the name of the original poster and I had to edit a litle for this post.

Yesterday I went to go workout at Ft. Sam Houston (which is closer to my house than my AF Reserve gig at Randolph). I typically go there when I have a day off from the airlines and my mil gig since it's such a short jaunt and obviously free. Well, yesterday they were having wounded warrior PT. There were about 50 army troops - ranging in age from their 20's to 40's that were missing limbs - arms, legs, arms and legs together, as well as having bad burns, deep wounds and scars, etc. You should have seen the pride they had in their eyes - it was phenomenal. While pieces of their body and their souls are 8000 miles away in another country, their pride in serving their country is right here with them.

No matter how terrible you think your life is with leaky faucets, long lines and waiting at red lights - it is completely trivial to the 20 year old corporal that will never have his legs again for the rest of his life. Everytime I see something like that - it jolts me right back to reality, and I hope it does the same for all the folks reading this. Thanks to all our true heroes!

Support http://www.fisherhouse.org

HILDEBRAN, NC Car Show

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 11 Aug 2009 09:58:56 -0700

Every other Saturday night Hildebran,NC hosts a car show with live entertainment, lots of food and activities for the kids. It's a great family night out in a great family-oriented town

For more info about Hildebran, NC visit http://hildebrannc.com/

TARGET OPENS NEWEST AND LARGEST DISTRIBUTION CENTER

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 11 Aug 2009 09:50:15 -0700

Today target opens its newest and largest distribution center in Newton, North Carolina between Charlotte and Hickory in Catawba County. It will be their largest distribution center and will supply most of the Target Stores and Super Centers east of the Mississippi River.

SALES COMMISSIONS HELP SELL YOUR HOUSE

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 16 Jun 2009 17:01:14 -0700

There are many sellers who act as though their listing agent, and all other agents for that matter, is just "one of the other parties" in the transaction. For this reason, as well as the typical financial reasons, they feel they are working in their best interest to negotiate lower than reasonable sales commissions. But in fact they do themselves no good service to chisel the sales commission of their REALTOR.

The sales commission, which is not set but negotiated, is difficult to discuss among agents because ethically and legally we cannot and should not set them. But we can keep in mind what a useful tool the commission is for selling a home, and consider how to explain the benefit to sellers at the listing appointment.

In our area furniture sales are a big business. Furniture salespeople are paid commission. Their employers like this arrangement for two reasons; first, if the salesperson is not productive they don't have to pay them, and it motivates the sales people to sell higher-end, higher-margin items.

Now apply this to real estate. When a homeowner lists with an agent, not only is that agent working for them but, by default, all licensed agents are. Those other agents have buyers who are looking for houses and the seller wants those buyers looking at his or her house. The buyers have a list of criteria for their new home and we present all the homes in the area meeting those criteria to them. When we finally show them the home they like we don't even have to sell it to them, the house will "sell itself!" OF COURSE IT IS UNETHICAL NOT TO SHOW A PROPERTY BECAUSE OF THE COMMISSION. However any salesman's natural ability shines when there is an increased motivation. That's only logical. One percentage point is $1000 of income (before everyone else gets their cut) for every $100,000 of sales price. And each percentage point translates to cash which is the motivation for the buyer's agent.

In home sales, the seller's competitors are the other homes being sold in the area, not the agents. The seller has to be competitive, not only with the price of the home, but with the compensation to his employees. In any business better pay brings better results and real estate is no exception. It's not about selfish, rich real estate agents, or sob stories about agents having to pay their bills. It's about fair compensation for a job well-done. And in my opinion the chance to get paid more to do the same job for a different employer (i.e. seller) is a no brainer.

There are times when giving in on a sales commission make sense:

-If the seller is moving locally and signs with the selling agent to represent him in his next purchase. That's smart.

-Or if a homeowner can't afford to bring money to closing and the house won't sell at the price necessary for a higher commission. That's the right thing to do. We should be willing to give back on behalf of a great profession.

The key is getting the buyers-agents to get their buyers in the door, and the commission can be a useful tool for this purpose.

REDUCED TO $133,900 in Mountain View, NC

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Wed, 03 Jun 2009 15:29:30 -0700

Great 3 bedroom/2 bath with 2.41 wooded acres on a quiet dead end street. The inviting backyard has a 10x20 patio, 10x12 deck and fire pit for entertaining. This house was built in1992, has a storage shed, new heatpump and gas log fireplace and ceiling fans in living and bedrooms. The separate laundry room is right off the kitchen.

Views of front of the house.

Back of house, patio and deck from firepit.

Looking at backyard from patio.

Below: Living room and gaslog fireplace from the hallway.

Hickory, NC; A great place to raise kids!

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Wed, 27 May 2009 10:34:32 -0700

If you're wanting a family-friendly area to raise kids, the Catawba Valley area around Hickory, NC is hard to beat. No matter what the interest of your children, there are plenty of recreation activities to excite them. Hickory offers a great public library system with a huge selection of books, videos and movies in its many branches. The Catawba Science Center, adjacent to the main branch, will keep kids riveted on rainy days. And they always have new displays and presentations to keep kids wanting to go back for more. There are numerous parks within the city limits offering nature trails, water-side walks, playgrounds with the latest equipment, skate parks and public pools. The Greenway is a long community walk that offers great excercise and views. And there are horse-back riding stables with affordable lessons for kids of all ages. For those who prefer traditional organized sports for kids, we have it all. There is a huge soccer complex off I-40 at exit 121 which offers at least eight soccer fields, gazebo, two playgrounds and a jogging/riding track. There are school leagues, intramural leagues and sports activities of all types. There are community pools with recreational swimming and swim leagues. Our favorite is the East Burke Youth Athletic Association (EBYAO). They have sports leagues for younger kids up through the grade school ages in outdoor soccer, indoor soccer, football, basket ball, and wrestling. And the Girls American League Softball (GALS) has fast-pitch teams for girls of all ages. Because EBYAO understands that sports for kids should be fun first, and then competitive, kids aren't penalized for missing a practice for school, family gatherings and vacations, or church. For family getaways; We have Lake Hickory, Lake James and Lake Norman; The North Carolina coast is 4 hours, Gatlinburg, TN is 3 hours, and South Mountain State Park, the Blue Ridge Parkway and the North Carolina mountains are right out your back door. And for more exciting fun, North Carolina offers plenty of zoos, waterparks and Carowinds Amusement park. Come see all Hickory, NC and the Catawba Valley have to offer. www.BillWilliamsRealestate.com

$8000 first-time buyer tax credit helping.

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Tue, 26 May 2009 09:26:41 -0700

Since the implementaion of the $8000 tax credit we have had an increase in offers and closings of homes in the $100k to $150k range. I expect there will be an even larger increase when buyers are able to use it for down-payments. Hopefully this will flow up as the sellers of these houses, looking to take advantage of the value in the present housing market, upgrade to more expensive homes.

OPPORTUNITIES FOR VACATION HOMES

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:21:44 -0700

Whether it's a lakefront cottage or a log cabin in the woods, a vacation home often seems to be a dream that only the wealthy can afford. But these days, you don't have to be a millionaire to own one.

A nationwide survey shows the median household income of second-home owners is $46,500. And, according to recent statistics, there were 7.2 million U.S. households in 1990 that owned some kind of recreational property or second home for vacation purposes. That number is expected to at least double and possibly triple over the next 10 years. With today's continued low interest rates, the tax advantages a second home can bring, and a wide selection of areas experiencing solid home price appreciation, this is an excellent time to consider purchasing a second home as an investment - and a great getaway place.

When searching for your second home, remember to investigate the area thoroughly. Ask a Realtor^® and the local chamber of commerce to provide information packets, maps and brochures. Take time to visit the area several times - a few months prior to and during its peak season(s). Are the crowds unbearable? Is the weather unpredictable?

Speak with a local Realtor regarding current and past home prices. Knowing the area's sales history will help determine the market value of the homes and effectively predict their appreciation potential.

Once you've settled on a community, work with a Realtor and lending institution to determine how much home you can afford. Drive around the town and its neighborhoods. Experience the day-to-day activity around potential properties. Keep in mind you may decide to retire to the area one day. Will the property serve two purposes - that of vacation and retirement home? More and more Americans are purchasing vacation properties in areas where they plan to eventually retire.

Remember, vacation homes remain a good investment and provide substantial deductions on yearly tax forms if they meet certain criteria. As the laws are ever-changing, complex and detailed, consult your real estate agent, who will usually work with a tax attorney or certified accountant, to calculate the tax benefits of owning a second home.

Relaxing in your own home in that dream vacation spot is not out of your reach. More and more Americans are realizing that owning a vacation home is do-able - not to mention a good investment and a peaceful retreat for years to come.

HOME SELLING TIPS

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:15:43 -0700

Maybe you're moving to a larger home to accommodate a growing family, relocating for a new career opportunity, or purchasing a townhouse for retirement. Whatever the reason for the move, you'll need to take the necessary steps to sell your home for the best possible price, within a reasonable amount of time. Where do you begin?

If you're like most people, you'll start by seeking assistance from a professional. A local real estate sales associate, who knows your neighborhood, can help you determine a fair market price. The sales associate should also recommend the extent to which you should make repairs or improvements to your house.

In order to select a real estate professional who's right for you, ask family, friends and neighbors for referrals. Attend open houses and interview several sales associates to find out how professional or experienced they may be. Get a written outline of how they plan to market your property and the services they will offer you.

Once you've identified a qualified professional, the rest is chemistry. Is the sales associate someone with whom you would like to work closely? Do you feel comfortable with the sales associate as your partner, working with you to give you advice and acting as your representative? Does he or she practice a consultative selling approach, focusing on the long-term client relationship and on the importance of exceeding client needs and expectations or is he or she caught up in the proverbial 'hard sell?'

The brokerage firm that your agent is associated with is also important. Research the firm's success rate and commitment to quality service. Does it survey existing clients in order to ensure customer satisfaction? What are the results of those surveys? How in tune are they with consumer needs? Do they offer guidance with mortgages or any discounts for other home related or moving services?

Determining your home's fair market value is one of the most important decisions you'll make during the home-selling/buying process. Your sales associate can help you set a fair price based on local market conditions. For instance, she or he will provide sale prices and other statistics of homes similar to yours that have recently been sold. Prospective buyers will be comparing your home to others on the market. Therefore, setting a comprehensive price can determine if your property will or will not sell.

For the first offer made, it's rare that the prospective buyer matches the asking price. If the offer is reasonably close to the asking price, carefully consider the offer before you consider turning it down. Curiously, it's the first offer that can often be the best offer. If the first offer is unacceptable to you, it may in your best interest to have your sales associate respond with a counter offer. Whenever considering an offer, ask yourself if you would purchase the property for the amount being offered. Always be willing to negotiate, especially if the prospective buyer is pre-qualified for a mortgage.

Once you decide what terms are acceptable, let your sales associate negotiate with the prospective buyer to work out the best agreement for you. You'll need to be patient while the buyer arranges financing and as the real estate company compiles and prepares pertinent data.

Careful planning and sound advice from a real estate professional can make selling your home a very satisfying experience.

BE CAUTIOUS WHEN GETTING INTO THE REAL ESTATE MARKET

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:11:53 -0700

For many renters, the first step in buying a home is becoming educated about the process. If you're like many people considering a home purchase, you've spent nights and weekends poring over your local real estate section. You've talked to friends and relatives about their experiences. Maybe you've even purchased a book or tow to help you become more familiar with real estate terminology and the various types of mortgages commonly used today.

Coming up with a down payment and finding a loan that meets your needs are the greatest hurdles faced by first-time homebuyers. So, you may even have leafed through stacks of brochures and flyers from lenders offering down payments that are far less than the 20 percent you'd always thought you'd need to save before you could buy. With so many excellent first-time buyer programs to choose from these days, you practically need to be an expert to sort through them all.

That's why if you're a first-time homebuyer seeking a low down payment loan, you'll save time by selecting a professional real estate agent who is experienced in working with people just like you in the area where you plan to buy. An agent who frequently assists first-time buyers will know from experience which lenders in your area offer a low down payment program that will most closely match your needs.

A professional real estate agent can help you determine whether you are likely to qualify for these special programs, since participation in some may be limited to buyers under a certain income level or for the purchase of homes below a certain purchase price. Your agent also will be able to tell you whether there are other requirements you must fulfill in order to be considered. With some programs, for example, you must attend an educational seminar before you can be considered for one of these low down payment loans.

`It's important that your agent become familiar with your current financial situation. Before you meet with your agent to discuss your financial situation and housing needs, you'll want to collect some basic information to make the process easier. Be prepared to show recent paycheck stubs or pay vouchers to certify sources of income; a complete list of current credit card, auto and other consumer credit payments you make each month; and recent bank and savings statements. These documents will help you and your agent determine how much home you can afford. It's also important that you disclose any prior credit problems or late payments. Your agent may be able to suggest ways to remedy any negative remarks on your credit report that could disqualify you from a low down payment loan program.

In addition, because most lenders w2ill require that you have several months of house payments in the bank as a reserve, your agent may be able to suggest ways you can increase your savings in the weeks and months leading up to your home purchase. Don't forget that some programs allow you to apply a cash gift from a family member to cover the required down payment and losing costs.

Your agent also may know a motivated seller who would be happy to assist you in accomplishing your home purchase by caring a second mortgage. A second mortgage is helpful because it reduces the amount of the first mortgage you need to obtain. In some cases, a second monthly payment and generally is required to protect the lender when a down payment is less than the standard 20 percent of the loan amount. Even if your seller isn't willing to take a second mortgage to complete the sale, he or she may be willing to pay your closing costs, which will reduce the amount of cash you need to have on hand up-front.

With interest rates edging up, innovative mortgage financing programs that require a low down payment are even more important than ever to first-time buyers. A professional real estate agent can help you sift through the countless programs that are available and help find the one that's mortgage can eliminate the need for private mortgage insurance, which is added to your right for you.

PRICE YOUR HOME RIGHT

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:08:01 -0700

Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.

If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and "shows" better than the competition, it will have a better chance of being sold quickly.

The secret is perfecting a technique that's as American as apple pie: comparative shopping.

A responsible real estate agent will effectively evaluate a home's worth through a process known as Comparative Marketing Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called "comparables," that have sold in the area within the last six months. Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonably

However, factors such as the amount of time needed to sell your home can alter the agent's price recommendation dramatically.

Typically, people should check with real estate offices in the community to determine the typical duration that listings are on the market. Sales associates will explain that the marketing "norms" vary with prices and properties. Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with. However, if you're under time constraints because of unexpected job changes or moving agreements you've made on another property, this will narrow your chances of selling the home for top dollar in the market.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you've picked is a good gauge of the home's worth and won't discourage qualified buyers.

SPOT THE BEST DEALS

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:05:17 -0700

Beauty is in the eye of the beholder, particularly when it comes to buying a home. Features that attract one home-buyer may repel another.

However, the one feature of interest to every home-buyer is price. Getting the most home for your money is paramount. The real problem is figuring out whether that fixer-upper on one street is a better buy than the home in next-to-new condition two blocks away. That's why knowing what to look for before you buy can save you time, energy and money down the line.

The first step is figuring out what kind of house you need. A good buy is only a good buy if it meets your current and future living requirements. Before shopping for a home, decide how much space you and your family require. How many bedrooms, bathrooms? Is a family room necessary? Do you need a layout that will accommodate a lot of entertaining? Do you prefer a spacious or compact work space in the kitchen? If you have small children, can the house easily be childproofed?

Evaluate the front and back yards. Is there enough space to accommodate your children? Do you want a park-like or garden setting? Do you enjoy yard work and gardening, or do you want a low-maintenance yard? Take into consideration the cost of extensive landscaping and upkeep.

Next, determine how much work is required to make the house you are considering livable. Make an honest assessment of your fix-it abilities. How much work are you willing to do or pay someone else to do? Do you have basic decorating, carpentry and plumbing skills? If you plan to learn as you go, make sure you have accurately determined what you are getting into. Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.

Unless you are ready and able to tackle a major remodel, look for a house or condominium that needs only cosmetic improvements. These include painting, wallpapering and replacing items like flooring, window treatments, bathroom and kitchen fixtures, light fixtures, cabinet and interior door hardware and appliances. Remember that even these simple changes can be costly if you have to make many of them.

Beware of improvements that seem easy enough at first glance buy may turn into major headaches and require a lot of money once you've moved in. Remodeled kitchens and bathrooms, changes to the floor plan, room additions and redesigned landscaping are examples of seemingly minor changes that can easily eat away the money you thought you saved by selecting a so-called "bargain priced" home. Of course, you may be perfectly willing to spend whatever money is needed to customize the house to match your tastes and needs.

Make sure major systems in the house are in good working condition. The furnace, air-conditioning and plumbing should be up to date, since repairs can be costly. Your agent can arrange to have a professional inspector determine whether the electrical wiring and any room additions are to code. Local utilities often offer free or low-cost inspections to tell you if the house is energy-efficient.

Look for a house with universally popular selling points. If you're impressed, the next buyer down the line is bound to be, too. For example, a roomy, modern east-to-clean kitchen is the best selling point a home can have. A house with only one bathroom is less desirable than a house with two or more. Many buyers expect at least three bedrooms, with a master bedroom that offers a feeling of privacy. Lots of storage space and closets, especially walk-in closets, will be a real selling point. Family rooms or "great rooms" also are desirable. On closer examination, a house that looks like a bargain may lack some of these key features.

Don't forget the old adage: location, location, location. Unless you're looking for a fixer-upper, the house should be in a condition that is comparable to other homes in the neighborhood. Avoid buying the biggest or fanciest home on the block. Consider the amount of traffic or noise. Homes located in a quiet area away from a busy street will command a higher price. Make sure the schools in your district have a reputation for quality education and safety. Nearby supermarkets, gas stations, restaurants and theaters also will make a location more desirable.

Good community facilities also add appeal; pools, athletic fields, community centers, libraries and hospitals all add to a neighborhood's value and desirability. Transportation needs also should be considered. Is local public transit available? How long are typical commutes to places of current and potential employment? Are there several alternate route? How close is a major airport? All of these can affect a home's pricing.

Consider the cost of living in a home. It's important to consider not only purchase price but the monthly cost of living in a home. Estimate your utility and maintenance costs. For example, will the house need to be painted on a regular basis and will you need to spend money maintaining a swimming pool? Ask your agent about the property tax rate and whether increases are anticipated. Will you have to pay special assessments for a homeowner's association? Consider the point in the life cycle of major household systems, such as the furnace, air conditioning, roof and kitchen appliances.

You can find a bargain! Your first step should be to seek out a knowledgeable real estate agent with experience in the market areas where you wish to purchase a home. Your agent can help you locate those properties that truly are "bargains" and help find the home that most closely matches your desires and needs.

ELIMINATE HOME-BUYING HASSLES

Bill Williams-Broker,REALTOR (CENTURY 21 American Homes) — Mon, 04 May 2009 16:03:12 -0700

Perhaps you'd like to take advantage of today's great buyer's market in housing but feel a little intimidated by everything that's involved.

You know the routine: finding the right locale and the right house; negotiating an agreement; putting together a down payment; and selecting the best mortgage available.

There are two things you can do to make every step run smoothly. The first is to select a really professional agent who knows the real estate business, knows your local market, has both a solid reputation for integrity and a solid record of success, and clearly is eager to respond to your needs.

The second is to make you agent your teammate in the literal sense of the word, using teamwork to be sure that the house you ultimately buy is the house you've always wanted.

Making your agent your teammate requires choosing an agent you feel able to trust both as a person and as a professional. And that's no small matter. In real estate as in all areas of business - as in all aspects of life, actually - trust can make all the difference in the world.

True teamwork is nearly impossible to achieve unless you stick with one agent throughout the buying process. Buy all means you should shop around - and shop around carefully - when you're still deciding which agent to work with. Once you've made that decision, however, don't reverse it unless (and this rarely happens to people who are careful in the first place) something specific happens to make it clear that your choice was unwise.

Teammate status is all the motivation a first-rate agent needs to go all-out in finding houses that suit your needs. And if you're concerned about what it is you're looking for and how much house you think you can afford, your agent can save you huge amounts to time and effort.

If you're not sure how much you can afford, be candid with your agent about that, too. He or she can provide you with some helpful preliminary guidelines and can put you in touch with mortgage lenders who know how to get you focused on an appropriate price range.

It's always a good idea, as you look at listed homes, to give your agent a lot of feedback on what you've seen. Good feedback will refine and sharpen the agent's understanding of your likes and dislikes, which in turn will make it easier to find the house of your dreams.

The ultimate payoff, once again, is that you get to your goal more quickly, expending less time and less effort along the way.

Anyone who have ever done it this way will assure you of one thing: it pays off.