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first time home buyers: Come On....Get In My Car And Let's Look At Some Homes, I Don't Bite :) - 01/21/11 02:43 PM
Sometimes I feel like that creepy old man at the park who offers kids candy......"come here little buyer, I have a treat for you." (Shiver) I'm actually just trying to provide you with good service and follow-up.
At any given time I'm working with 6-10 active buyers in addition to listings and active escrows. That's a lot of balls to keep in the air. So somewhere around Thursday, I send out emails to these buyers and see if they have homes they'd like to see during the weekend.
This allows me to set up my schedule. I always want to make … (25 comments)

first time home buyers: What Is a Home Warranty and Why Do I need one? Buying In Mission Viejo or South Orange County? I'll Buy It For You! - 01/14/11 12:43 PM
A Home Warranty is peace of mind....not a cure-all, but a very inexpensive way to make sure you minimize your financial damages for home emergencies. I make sure that all my buyers have one in place at the close and it's renewable after that first year.

Via Lora "Leah" Stern, Realtor Suffern, Rockland County NY (Coldwell Banker Residential Brokerage):
What Is a Home Warranty and Why Do I need one?
Your home is probably your single biggest investment.  For most new home buyers the last thing they need to worry about is an unexpected repair that can seriously strain their budget.  For … (2 comments)

first time home buyers: Would You Be Sad If This Home Was Gone When You Make Up Your Mind? - 01/11/11 11:54 AM

 
It's hard.....the last thing any buyer wants to do is find out that the "right" home is the very first one they see. It causes so much doubt,
"well, this is the first one we've looked at, what if there is something better"?
What if there isn't? What if this is the perfect home for you and you miss it? I've seen it happen. I can usually tell from my buyers when they spot "the" house for them. There is a look and visible emotion evident. But it's hard when it's the first home.....and I need to try and … (68 comments)

first time home buyers: "I Want It"..."No, We're Going To Pass"...."Oh No, Did We Miss It"...."I'm Not Sure About The Street"...."We Lost The Perfect Home" - 11/15/10 02:07 PM

 
 
 
 
 
"I Want It"..."No, We're Going To Pass"...."Oh No, Did We Miss It"...."I'm Not Sure About The Street"...."We Lost The Perfect Home"
All these comments came yesterday by the same clients. After looking for a couple of weeks, they had reached the stage of panic.....they really hadn't found the right home and were afraid it just wasn't out there and they had passed up the "next best" option. Somewhere.....but they weren't even sure which that was. Slow down and breath deeply! :)
While I'm pretty sure there is a Code of Ethics rule which prohibits me … (45 comments)

first time home buyers: Buying A Home Is A Series of "Yeses"....Helping The Buyers Understand This - 09/27/10 09:07 PM
Buyers are nervous....especially in this environment. As agents we can help our buyers take the steps with confidence by our explanations. I like to tell my buyers that the buying process is a series of "yeses"....we keep moving forward until we hit a "no."
1) Finding a home and writing an offer: "yes, we like the home enough to submit an offer"
2) Accepting a counter offer, or opening escrow: "yes, we accept the initial terms, subject to contingencies"
3) Reviewing the home inspection: "yes, the condition of the home is one we accept, or we ask for repairs"
4) Request … (31 comments)

first time home buyers: Scamming The Uninformed Buyer....Buyers Be Warned! - 08/22/10 11:43 AM
I am so horrified! Yesterday I got my nails done (that is not the horrible part....they look great :)) and was speaking to my nail girl. "Mary" is Vietnamese and we've often talked about real estate and the lending situation....you see, last year she lost her home to foreclosure. She had paid someone $2500 to handle a loan modification and SURPRISE...nothing happened. So sad!
Unfortunately she told me about the "Loan Mod Consultant" too late for me to help her...but yesterday she had another question.
She has a friend who is looking for a home, and has the money/credit but has … (22 comments)

first time home buyers: Dear Seller....You Took Too Long, My Buyer Isn't Buying Your Home Anymore - 05/06/10 10:56 PM
Everyone knows that last week was the deadline for the first time home buyer tax credit. I was working with one young couple who really needed to have that credit to buy. Not because they couldn't put the money down, but because it would use all their savings to do so....and they were borrowing $6000 from their 401K to do it. These were FHA buyers and as long as they could put the money back into the 401K (instead of making payments) they could comfortably pay the mortgage with their jobs. But they really needed that credit.
We've been looking for … (12 comments)

first time home buyers: Last Week For Tax Credit: The Frantic Offers Are Flying, But What About A "Home"? - 04/28/10 09:33 PM
I am exhausted, happy, busy, but exhausted. I and my team are making ourselves available to first time home buyers whenever possible. They are looking high and low for a home...not necessarily the "right" home, but any home that will accept their offer. That's no way to choose a home.
A home is a place where you can find peace and tranquility, where you can escape from the outside world and relax. A home is a place where you will feel unconditionally loved and welcomed. It might have a garden, or a balcony, or a loft. It might be made of … (3 comments)

first time home buyers: Buy, Wait, Tax Credits, Low Interest Rates, High Interest Rates, Hidden Inventory.....Huh? - 03/29/10 02:35 PM
What's a buyer to do? They have information overload. Sure the Internet has become a great source of information, and buyers are using this source, but are they getting information overload? I think so! So it's up to us, Realtors....professionals....to help them use this information to their benefit. The challenge is how to help these buyers focus on the basics of their personal situation.
Question 1: Why are you buying?
Tax break? Lower home prices? Growing family? What are the personal reasons for getting into my car today? Maybe just curiosity....testing the waters? Ok....but why today? Fear? Fear of missing the … (7 comments)

first time home buyers: "They Just Aren't That Into You".....Why Sellers Take Their Time Responding To Offers - 02/02/10 07:15 PM
Too many buyers....there are just too many. Too many short sales....they just don't really care. Too many bank-owneds...they are waiting for multiple offers to come in. Listing agents can afford to be picky, and they are. I remember when an offer would be greeted with excitement and great care...now? Sometimes they aren't even acknowledged for days, let alone responded to. All this is making it very difficult on the buyer's agent to keep their clients happy.
The media is bombarding the public with bad press about the housing market. They are not discussing the multiple offers, the bombardment of buyers, nor … (39 comments)

first time home buyers: Real Estate Roulette....Take The Vegas Out Of The Market - 01/16/10 11:02 AM
Real Estate should not be a calculated risk. It could be an investment or a family home, but it's not supposed to be a gamble. Isn't this what got us into this mess? For the past few years the United States Real Estate Market was one big poker game and all you needed to play was an IOU and a nice smile "I'm good for it....trust me."
Peruse the Internet, newspapers, financial news networks and so many discussions and blogs are about where the market is going, is now the bottom, will interest rates rise, will REOs show up, will the … (7 comments)

first time home buyers: What Happens If The $8000 Tax Credit is Allowed to Expire? - 09/26/09 12:08 PM
As of now, the first time home buyer credit expires the end of November. Adding to the difficulty the new FHA guidelines, which require the re-certification of all condo projects, becomes effective October 1st. The sad truth is that unless the buyer is solidly into an escrow right now, they most likely can't get their deal closed in time for the November deadline. The question is what happens to our real estate market if the credit does expire?
I don't know!
My guess is that the lower price "entry-level" homes are going to slow down. They have been what was fueling … (6 comments)

first time home buyers: Appraisal Nightmares Continue.....Appraisal Reviews - 09/25/09 07:02 PM
I'm losing a deal this afternoon......we got the original appraisal $15,000 less than we offered, we had asked for $12,000 in closing costs. So the seller came down to $425,000 which was the appraisal value and the buyer borrowed more money for the closing costs. 
Today....we are supposed to close on Monday.....the underwriting appraisal review came back and told us that it's only worth $410,000. Another $15,000. There are some bank-owned homes down in that range which closed....but they were mold-infested and missing entire kitchens...ours is in great shape.
The buyer has no money and the sellers are supposed to close … (3 comments)

first time home buyers: First Time Buyer Action Item List For The Fall - 09/10/09 09:58 AM
Time is running out!! This is NOT a sales ploy....this is the TRUTH!
Changes are coming in the next few weeks which are going to make home buying very difficult, so move now! FHA changes and the $8000 tax credit is expiring. In California we also have a home mortgage insurance program from the California Association of Realtors which is expiring too. This is the best time to take advantage of all these benefits and get into the new home.
Some timelines to remember:
FHA: Beginning October 1st, all condo projects need to be recertified (the exception is those approved from … (0 comments)

 
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