Bob and Sue Whigham's Blog

iPhone App for Real Estate

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sun, 08 Aug 2010 08:33:00 -0700

The Better Homes and Gardens Real Estate Home Selection Assistant iPhone app allows you to take pictures of the properties you see, organize these pictures in albums and see them on a map, rank them, and send them to your family and friends via Facebook or email.

With iPhone's built-in location finder, you can find a Better Homes and Gardens Real Estate agent in your area and also learn about neighborhood information including data on local schools, nearby restaurants and shops, and comparable home prices. And best of all, it's free!

Bright Spots in Recovering Housing Market

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 31 Jul 2010 11:10:07 -0700

Many real estate agents will look back to 2009 as a year of stabilization and recovery. A number of indicators, from rises in new and used home sales compared to periods one year ago and continued growth in sales in many markets, point to market recovery. Many markets are reflecting pricing above previous low points and others will join them this year.

The National Association of Realtors (NAR) recently reported sales of existing homes showed another gain in May 2009, representing the first back-to-back monthly gain since September 2005. Pending home sales were up for the three-month period March through May 2009, when compared to the each of the year-earlier months.¹

Markets such as the Chicago metro area, Florida and California have all shown dramatic gains in recent home sales. In California, the for-sale inventory of homes dropped by more than half from May 2008 to May 2009, according to the latest California Association of Realtors (CAR) report on May home sales and prices.

CAR said home sales increased 35.2 percent in May in California compared with the same period a year ago. The California Association of Realtors (CAR) cited the alignment of favorable home prices, historically low mortgage rates and the first-time homebuyer's tax credit, conditions which may not align again for many years.²

While many reports show home prices are still down from their points in the year-earlier period, the data suggests the decline in home prices appears to be moderating. Helping fuel the recovery are new mortgage programs, record-low low interest rates and government initiatives such as the first-time homebuyer's tax credit.

"While one month's data cannot determine if a turnaround has begun; it seems that some stabilization may be appearing in some of the regions."³

¹SOURCE: http://www.realtor.org/press_room/news_releases/2009/06/phs_up
²SOURCE: http://www.car.org/newsstand/newsreleases/maysalesandpricereport/
³SOURCE: http://finance.yahoo.com/news/The-Pace-of-Home-Price-prnews-1506714905.html?x=0&.v=1

Quick Poll - Did The Tax Credit Add Buyers To The Market in Your Area?

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Fri, 30 Jul 2010 11:50:56 -0700

For all you Realtors out there here's a quick poll regarding the recently expired tax credit. Select "Click Here for PollOnline Survey" below and answer yes or no to this question - "Has the $8,000 first-time home buyers tax credit increased your business?" Results published Monday.

Click Here for Poll Online Survey

Same Great Company, Same Great Service, Great New Name

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Thu, 29 Jul 2010 05:36:35 -0700

Big Hill becomes the first Better Homes and Gardens Real Estate

Affiliate in Ohio and Indiana

Dayton, OH (July 27, 2010) – Better Homes and Gardens® Real Estate today announced that Big Hill, a leading Dayton-based real estate company, has joined its expanding network of affiliates. Big Hill has the distinction of being the first real estate brokerage firm with offices in Ohio and Indiana to associate with the franchise. Founded in 1968, Big Hill has eight locations and nearly 200 sales associates throughout southwest Ohio and east-central Indiana. The brokerage will conduct business as Better Homes and Gardens Big Hill.

“The real estate industry is experiencing unprecedented change,” emphasized Jeff Owens, president of Better Homes and Gardens Big Hill. “It was imperative that we align with an organization that is pushing the boundaries of technology to stay relevant to our home buyers and sellers. Now we have the ideal blend of next-generation tools and award-winning strategies, not to mention a beloved brand name that is respected across many products and services,” Owens continued. “As the first brokerage in Ohio and Indiana to carry the standard for Better Homes and Gardens, we will surely benefit in image, recognition and growth from this ground-floor opportunity.”

Long known as a forward thinking, client-oriented real estate company, Big Hill is expecting to “future proof” its business and agents by integrating the most advanced real estate technology which Better Homes and Gardens Real Estate has pledged to its affiliates. For example, Big Hill will have access to Meredith Corporation’s (the publishers of Better Homes and Gardens Magazine) database of millions of consumers through a proprietary on-line platform. Affirming that it is a technology-driven organization, Sherry Chris, the CEO of Better Homes and Gardens Real Estate, is the 2010 Inman Innovator of the Year for her visionary leadership in advancing the franchise to the forefront of adopting social and digital media. “I know how dedicated Big Hill is to making its sales agents successful by embracing the newest tools,” stated Chris. “By joining us, Jeff Owens and his team have taken a leap forward to being recognized as a next-generation brokerage.”

Presently, over 80% of all home buyers and sellers start on-line. The real estate industry is fast becoming more dependent on computers, cell phones and the Internet than on bricks and mortar. When servicing someone who is buying or selling a home, the faster an agent can respond to a question and react to circumstances, the sooner the opportunity to facilitate a successful transaction. Better Homes and Gardens Real Estate is a recently-founded entity built entirely around the tools of technology to satisfy buyers and sellers, including web applications.

“They have focused heavily on starting a brand based upon technology and social media, and they’ve done an outstanding job of it,” said Owens. “That made our decision to join them a lot easier.”

About Better Homes and Gardens Real Estate

Better Homes and Gardens Real Estate LLC is a dynamic real estate organization that offers the full range of services to brokers, sales associates, home buyers and sellers. Blending innovative technology, advanced business systems and the popularity of its lifestyle brand, Better Homes and Gardens Real Estate represents the future of the real estate industry based on the tradition of “home.” The growing Better Homes and Gardens Real Estate network includes over 5,000 sales associates in offices coast to coast. Visit www.BHGRealEstate.com to learn more.

Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Each Better Homes and Gardens Real Estate franchise is independently owned and operated.

For More Information Please Contact

Bob and Sue Whigham Associate Partner

Better Homes and Gardens Real Estate Big Hill

EMAIL BobAndSue@YourRelatorsForLife.net

PHONE (937) 435-2267 ext 163

5580 Far Hills Avenue

Dayton, Ohio 45429

Does Moving Up Make Sense?

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Mon, 05 Jul 2010 09:30:53 -0700

One of the two or three most stressful times in our life you'd wonder why the heck anyone would want to move. Well, there's probably as many reasons as there are people.

So, if you're considering laying all this stress on your life maybe answering these questions can help you decide whether or not moving up makes sense.

How much equity do you have in your home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of paying a mortgage, but if you've owned your home for a number of years, you may have significant unrealized gains.

Has your income increased enough to cover the extra mortgage costs andthe costs of moving?

Does your neighborhood still meet your needs? For example, if you've had children, the quality of the schools may be more of a concern now than when you first purchased.

Can you add on or remodel? If you have a large yard, there might be room to expand your home. If not, your options may be limited. Also, do you want to undertake the headaches of remodeling?

How is the home market? If it's good, you may get top dollar for your home.

How are interest rates? A low rate not only helps you buy more home, but also makes it easier to find a buyer.

Still considering a move? Well, good luck and happy hunting.

How to Stop Your Home From Selling in 10 Easy Steps

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 26 Jun 2010 08:36:08 -0700

Here are the top ten ways any seller can practically guarantee their home will expire

Not serious about selling. A sage once quipped, "Money is only important when you don't want something enough." Real estate expert R.L. Brown said that if half of the 58,000 sellers in Maricopa County (Arizona) removed their for sale signs we would be at normal inventory levels. Actions speak louder than words in this market. Discretionary sellers should wait for a less competitive environment.
Improper pricing. A home properly priced is half sold. No amount of full color ads, glossy flyers, multiple photos, virtual tours, agent luncheons, Goodyear blimps, pom-pom girls or Saint Joseph statues will compensate for the wrong, timid retail price.
Not listening to your agent. Attorneys believe if you represent yourself, you have a fool for a client. Doctors don't self-diagnose. Professionals use professionals. Even though most people believe they are experts on raising kids and real estate; full-time, career pros usually know what's best. Listen very carefully.
Micromanage the marketing. Just because you sold cookware in college, carts in California, or carpeting in Cranston does not qualify you to second-guess your agent. If you had a real estate license years ago, tell your children about the "good old days." Share your concerns and timelines, but leave the details to the listing pro.
Don't stage the property. Someday shag multi-colored, sculptured carpeting will come back. Whitewashed cabinets, Navajo white walls, linoleum flooring, southwest décor, lots of personal photos and Elvis paintings on black velvet should be removed. And, oh by the way loose the long sideburns.
Let Fido run loose. Recently, I entered a house and two frisky, friendly black Labs ran to sniff me. Unfortunately, I had light gray dress slacks on that day. Both wet stains lasted for hours. Until that day I didn't realize dogs enjoyed chewing the tassels on expensive loafers.
Talk to the buyers. Life gets lonely at times. Why not ask the buyers where they grew up? Or how much they qualify for. Tell them about the vacant rental next door. Or, the sex offender who left the area. Maybe they could baby-sit next weekend! Why not share war stories, horror movies or meatloaf recipes?
Sell personal items. Wow, maybe the buyers want to buy the patio furniture, rotary lawnmower or life size statue of Saint Anthony. You only have four more boxes of Girl Scout cookies to sell. Why not ask for a donation for the March of Dimes, the Humane Society or the local PBS station. Remember the saying, "loose lips sink ships?"
What's that smell? My house doesn't smell of pet odors, baby diapers, curry powder, garlic, fried fish, coconut incense, cigars, manure, mulch, dairy farms or low tide. The buyer must be confusing my castle with a track home.
Avoid feedback. What do buyers know anyway? Imagine the fact they don't appreciate my barbed wire fence, heavy duty rebar, backyard bomb shelter, airport runway views, lights from the power plant, hum from the high voltage lines, railroad tremors, scorpion skeletons, termite mud tubes and pet snakes.

Kool Tricks to Keep Your House Cool this Summer

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 19 Jun 2010 10:05:00 -0700

RISMEDIA, June 17, 2010--As the temperatures continue to rise this summer, so does the cost of keeping your home cool. While homeowners across the country come to depend on air conditioners to keep the temperature down during the warm summer months, there are other options that will keep you cool while keeping your energy bill low.

Fans and ceiling fans
-If you’re looking for ways to beat the heat, a ceiling fan can be a great investment for your home. This one appliance can make a room feel 6 or 7 degrees cooler, and even the most power-hungry fan costs less than $10 a month to use if you keep it on for 12 hours a day. Good fans make it possible for you to raise your thermostat setting and save on air-conditioning costs. Fans don’t use much energy, but when air is circulating, it feels much cooler. Ceiling fans are best, but a good portable fan can be very effective as well.

-You should remember that even mild air movement of 1 mph can make you feel three or four degrees cooler. Also, make sure your ceiling fan is turned for summer – you should feel the air blown downward.

Shades, drapes or blinds
-Install white window shades, drapes or blinds to reflect heat away from the house. Close blinds, shades and draperies facing the sun (east-facing windows in the morning and west-facing windows in the afternoon) to keep the sun’s heat out and help fans or air conditioners cool more efficiently. Always remember that the best way to keep your home cool is to keep the heat out.

Internal Heat
-The most common sources of internal heat gain are; appliances, electronic devices and lighting. Be aware of devices in your home that are generating heat and if you have air conditioning, use it wisely.

Don’t put lamps, televisions or other heat-generating appliances next to your air-conditioning thermostat, because the heat from these appliances will cause the air conditioner to run longer. The heat they produce will make the thermostat think your house is warmer than it really is, and your system will run harder than it needs to.

-Unless you absolutely need them, turn off incandescent lights and heat-generating appliances. Replace incandescent bulbs with compact fluorescents; they produce the same light but use a fifth the energy and heat.

-You should also try to avoid heat-generating activities such as cooking on hot days or during the hottest part of the day. If you are cooking, use your range fan to vent the hot air out of your house. By reducing the amount of heat in your home, you will use less energy to cool it.

Plants
-Plant trees or shrubs to shade air conditioning units, but not block the airflow. A unit operating in the shade uses less electricity. Deciduous trees planted on the south and west sides will keep your house cool in the summer and allow the sunlight to warm the house during the winter.

Roof and Walls
-Paint your roof white – If you’ve got a flat roof, paint it with a specially formulated reflective paint or just paint it white. The reflective effect will help to keep the rooms under the flat roof much cooler.

Other things to remember
-Humidity makes room air feel warmer, so reduce indoor humidity. Minimize mid-day washing and drying clothes, showering and cooking. When you must do these things, turn on ventilating fans to help extract warm, moist air.

-Avoid landscaping with lots of unshaded rock, cement, or asphalt on the south or west sides of your home because it increases the temperature around the house and radiates heat to the house after the sun has set.

-If the attic isn’t already insulated or is under-insulated, insulate it now. Upgrading from 3 inches to 12 inches can cut cooling costs by 10%.

By Paige Tepping

Bob Whigham of Big Hill GMAC Real Estate Wins National Award for Customer Service

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 05 Jun 2010 12:00:30 -0700

Kettering, Ohio April 9, 2010 Big Hill GMAC Real Estate announced today that Bob Whigham has received the Premier Service^® Diamond national award for providing superior customer service to home buyers and sellers in the Kettering Ohio Homes for Sale Market.

The Premier Service Diamond award was presented to Whigham by GMAC Real Estate president Harley E. Rouda, Jr., and he will be recognized at the company’s upcoming national business conference.

“Bob Whigham joins a select group of real estate professionals recognized nationally for providing incredibly high levels of customer service to their local clients in the Kettering Ohio Homes for Sale Market," Rouda said. "With our Premier Service program, buyers and sellers are asked to complete a survey evaluating the service they receive and Whigham received one of the company’s highest rankings.”

To qualify to become a Premier Service Diamond award winner, Whigham had to receive a minimum 95 percent customer satisfaction rating. Whigham’s customer satisfaction rating was 100 percent from his customer base in the Kettering Ohio Homes for Sale market.

"I am absolutely thrilled to receive this award since it’s an independent rating based upon evaluations from those people who matter most: my clients in the Kettering Ohio Homes for Sale market,” said Whigham.

Premier Service is one of the most comprehensive and effective customer service programs in the real estate industry. Through the program, GMAC Real Estate’s sales associates put in writing, up front, the services they will perform. Following the transaction, GMAC Real Estate asks customers to honestly rate their performance through a written survey from an independent third party.

Big Hill GMAC REAL ESTATE provides a variety of real estate services, including Mortgage, Settlement, Relocation, Buyer and Seller assistance. Big Hill GMAC Real Estate is located at 5580 Far Hills Avenue Kettering, Ohio 45429).

PRICED REDUCED - Immaculate Home In Centerville Ohio Close to WPAFB and Great Shopping

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Mon, 24 May 2010 12:46:29 -0700

1200 Heathshire
Centerville, OH 45459
Exceptionally Maintained Home with In-Ground Pool

Bob and Sue Whigham

Mobile:	937-307-8423
Office:	937-435-1177 x163
Website:	Visit Website

Price	:	$209,900
Bedrooms	:	4
Bathrooms	:	3
Square Foot	:	2,498
Lot Size	:	16,949
County	:	Montgomery
Property Type	:	Detached
Year Built	:	1971
MLS Number	:	470361

click for more information and pictures

Property Description

Exceptionally maintained home in a very desirable section of Centerville. Tons of updates with attention to detail. Large master suite with a seperate dressing area and an attached fully remodeled master bath (2009). All bathrooms remodeled in 2009. Built-in California closets. Walnut hardwood floors throughout most of the 1st floor. Newer carpet and freshly painted throughout. Asphalt driveway and garage door 2007-8. New gutters with gutter guards 2006. Large private backyard with a heated in-ground pool with privacy fence 2004. Storage shed 2006.

Equal Housing Opportunity.

Big Hill GMAC Real Estate : 5580 Far Hills Ave - Dayton OH 45429 : 937-307-8423

Immaculate Home In Centerville Ohio Close to WPAFB and Great Shopping

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Fri, 14 May 2010 17:26:28 -0700

1200 Heathshire
Centerville, OH 45459
Exceptionally Maintained Home with In-Ground Pool

Bob and Sue Whigham

Mobile:	937-307-8423
Office:	937-435-1177 x163
Website:	Visit Website

Price	:	$219,900
Bedrooms	:	4
Bathrooms	:	3
Square Foot	:	2,498
Lot Size	:	16,949
County	:	Montgomery
Property Type	:	Detached
Year Built	:	1971
MLS Number	:	470361

click for more information and pictures

Property Description

Equal Housing Opportunity.

Big Hill GMAC Real Estate : 5580 Far Hills Ave - Dayton OH 45429 : 937-307-8423

7 Reasons to Own Your Own Home

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Thu, 25 Feb 2010 13:24:32 -0800

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.

2. Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there's no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORSÒ found that a typical homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you'll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don't go up over the years so your housing costs may actually decline, as you own the home longer. However, keep in mind that property taxes and insurance costs will rise.

6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Open House in a Great Kettering Location - Sunday Feb 28, 2010 11 am - 1 pm

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Thu, 25 Feb 2010 13:07:26 -0800

Lovely 3 bedroom Ranch home located in very desirable Kettering location. Recently updated throughout and freshly painted inside and out. Ideally located near Town and Country Shopping Center, walking distance to all Schools, Lincoln Park Commons, the Fraze and parks. Just minutes from The Greene, Downtown Dayton, and both I-675 and I-75. Great neighborhood for walking or riding bikes. This home has it all - Great Location, Great Condition and Great Price.

Home Buying For Illegal Aliens

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Wed, 26 Aug 2009 14:45:01 -0700

I'm curious if anyone out there knows the home buying rules for aliens residing in the USA. For example, can an alien residing in the USA in possesion of a tax ID and paying income taxes buy a home in the USA. In this example the buyer does not have a social security card but has a passport.

Declining Neighborhood

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Tue, 18 Aug 2009 16:13:04 -0700

In a 2006 study of home buyers and sellers conducted by the National Association of REALTORS® it was found that buyers rated neighborhood quality as the number one factor in purchasing a home. So what if your neighborhood lacks a little (or a lot) to be desired? Check out this quick list of ideas compiled by Trish a REALTOR® from Mississippi:

Cleaning Up the Neighborhood

Strike a Deal - If your neighbor's homes are dragging your listing down why not spring for a landscaper to give their yard a makeover? Why pay for a neighbors yard to be improved? So you can sell your home for top dollar!

Call the City or Chamber of Commerce - Ask them if they are any neighborhood clean up programs available. Many volunteer organizations pick an area each month to clean or improve. Why not your neighborhood?

Team Up - If there are other homeowners attempting to sell their homes in the neighborhood why not team up to tackle the problem? A combined effort over one weekend - picking up trash, cleaning out storm drains, or painting over graffiti could inspire others to follow your lead.

5 Elements of Appraised Value

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sun, 09 Aug 2009 11:34:59 -0700

Item number 3 in my last blog post mentioned appraisals. Thought this post might help to expand on this very important issue.

1. It's an objective opinion of value, but it's not an exact science so appraisals may differ.

2. For buying and selling purposes, appraisals are usually based on market value-what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.

3. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

4. Appraised value doesn't consider special considerations, like the need to sell rapidly.

5. Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems (http://www.realestatechecklists.com).

5 Habits of Highly Effective Sellers

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sun, 02 Aug 2009 10:10:52 -0700

1. Don’t Just Show Your Home – Show It Off

Like it or not, your home is competing with many more homes in the area. Buyers buy on emotion, not rationale; therefore, even the savviest marketing program in the world can only bring lots of buyers into your home – it can't make them WANT the home. A motivated seller will do everything possible to promote the property’s strengths. For suggestions, see our "How to Show Your Home" flyer.

2. Commit to a Long-Term Listing Only with a Performance-Specific Guarantee

Don't rely on verbal promises. Make sure that when you enter into a listing agreement, you receive a written guarantee of performance, with the option to cancel without charge if those standards are not met. Otherwise, any vague language may result in a performance dispute that will only end up hobbling your sale in the long run.

3. Obtain a Lender Appraisal Before Listing the Property

How would you feel if your home sold for $150,000, only find out from the bank appraiser that it was worth $175,000? In today's real estate market, this happens more often than you’d think. Eventually, your home will have to be appraised by a state licensed bank appraiser anyway. Why risk losing several extra thousands of dollars in your pocket?

4. Insider Secret

Buyers are afraid of paying too much for a house. That's why they often make low offers. A certified bank appraisal helps you sell for full price because the buyer can see that the price was established by a professional third party.

5. Secure Financing Terms and Commitment for Potential Buyers

Before you can consider deeming any buyer as “serious”, you should obtain a pre-approval letter from the lender before taking the time and effort to start the process. After all, what could be more heartbreaking than believing you’ve sold your house, only to find out the buyer is not in the financial position he represented?

6 Items to Have on Hand for the New Owners

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 01 Aug 2009 15:13:35 -0700

One of the many details affecting a smooth real estate transaction is the transfer of important information. The following list is just a few of the actions that could make this very exciting process a good memory or a bad one. A good Realtor understands the details and makes sure these items are handled in a professional manner.

1. Owner's manuals for items left in the house.

2. Warranties for any items left in the house.

3. A list of local service providers-the best dry cleaner, yard service, etc.

4. Garage door opener.

5. Extra sets of house keys.

6. Code to burglar alarm and phone number of monitoring service if not discontinued.

6 Reasons You Need a REALTOR©

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Fri, 31 Jul 2009 13:33:02 -0700

Buyers and Sellers have a tendancy to view a real estate transaction in simple steps. i.e. Buy side-look for a home, make an offer, get a loan, close, move in. Well, this view make work for senior level executive summary, however, as we all know the devil is in the details. The following are just some of the many issues that an experienced Realtor deals with on a daliy basis.

A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.
Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of 100 days. And it usually takes another 60 days or so for the transaction to close after an offer is accepted.
Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.
REALTORS© have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.
REALTORS© provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you.
REALTORS© are members of the NATIONAL ASSOCIATION OF REALTORS©, a trade organization of more than 1 million members nationwide. REALTORS© subscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity.

13 Questions to Ask When Choosing a REALTOR

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Thu, 30 Jul 2009 09:13:39 -0700

It seems to me that most people choose a Realtor through word-of-mouth, at an open house, or through some advertising. What buyers and sellers don't seem to understand is they are hiring an employee. Just as a business person interviews an employee prospect, so should a buyer and seller interview a Realtor. Now, since a buyer or seller has no experience in hiring Realtors, the following questions may help with selecting one that they are comfortable with:

1. How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.)

2. Does your company have a Value Proposition?

3. What designations do you hold? (Designations, such as GRI and CRSÒ, which require that real estate professionals take additional, specialized real estate training, are held by only about one-quarter of real estate practitioners.)

4. How many homes did you and your company sell last year?

5. How many days did it take you to sell the average home? How did that compare to the overall market?

6. How close to the initial asking prices of the homes you sold were the final sale prices?

7. What types of specific marketing systems and approaches will you use to sell my home? (Look for someone who has aggressive, innovative approaches, not just someone who's going to put a sign in the yard and hope for the best.)

8. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? (While it's usually legal to represent both parties in a transaction, it's important to understand where the practitioner's obligations lie. A good practitioner will explain the agency relationship to you and describe the rights of each party. It's also possible to insist that the practitioner represent you exclusively.)

9. Can you recommend service providers who can assist me in obtaining a mortgage, making repairs on my home, and other things I need done? (Keep in mind here that real estate professionals should generally recommend more than one provider and should tell you if they receive any compensation from any provider.)

10. What type of support and supervision does your brokerage office provide to you? (Having resources, such as in-house support staff, access to a real estate attorney, or assistance with technology, can help a real estate professional sell your home.)

11. What's your business philosophy? (While there's no right answer to this question, the response will help you assess what's important to the real estate practitioner-fast sales, service, etc.-and determine how closely the practitioner's goals and business emphasis mesh with your own.)

12. How will you keep me informed about the progress of my transaction? How frequently? Using what media? (Again, this is not a question with a correct answer, but that one reflects your desires. Do you want updates twice a week or don't want to be bothered unless there's a hot prospect? Do you prefer phone, e-mail, or a personal visit?)

13.Could you please give me the names and phone numbers of your three most recent clients?

For Sale By Owners Tips

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Mon, 27 Jul 2009 18:42:37 -0700

Although most homeowners eventually decide to use a real estate agent to sell their home, many of them often try to sell the property themselves, usually with mixed results.

However, if you’re the type of person who welcomes the challenges of any task as big as marketing your home as efficiently and effectively as possible, then here are just a few of the Forms you’ll need:

Property Disclosure Form. This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.

Purchasers Access to Premises Agreement. This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.

Sales Contract. The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.

Sales Contract Contingency Clauses. In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies-such as the buyer's need to sell a home before purchasing yours.

Pre- and Post-Occupancy Agreements. Unless you're planning on moving out and the buyer moving in on the day of closing, you'll need an agreement on the terms and costs of occupancy once the sale closes.

Lead-Based Paint Disclosure Pamphlet. If your home was built before 1978, you must provide the pamphlet to all sellers. You also must have buyers sign a statement indicating they received the pamphlet.

20 Low-Cost Ways to Spruce Up Your Home

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 25 Jul 2009 08:25:27 -0700

Make your home more appealing for potential buyers with these quick and easy tips.

Trim bushes so they don't block windows and cut down on light.
Buy a new doormat.
Put a pot of bright flowers (or a small evergreen in winter) on your porch.
Put new doorknobs on your doors.
Put a fresh coating on your driveway.
Edge the grass around walks and trees.
Keep your garden tools out of site.
Be sure kids put away their toys.
Buy a new mailbox.
Upgrade the outside lighting.
Use warm, incandescent light bulbs for a homey feel.
Polish or replace your house numbers.
Clean your gutters.
Put out potpourri or burn scented candles.
Buy new pillows for the sofa.
Buy a flowering plant and put it in a window you pass by frequently.
Make a centerpiece for your table with fruit or artificial flowers.
Replace heavy curtains with sheer ones that let in more light.
Buy new towels.
Put a seasonal wreath on your door.

10 Most Common Listing Mistakes

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Sat, 18 Jul 2009 11:53:58 -0700

Selling your home can be an exhausting experience. Inconvenient phone calls, broker previews, endless showings, price adjustments and the possibilities of being stuck with two mortgages are very real concerns for many of today’s homeowners. If you’re adequately prepared, you could end up losing hundreds, even thousands of dollars in profit. Oftentimes, the right agent can make the difference between a smooth, profitable transaction and an unhappy experience. By utilizing the knowledge of a competent, qualified real estate professional, you’ll be better equipped to avoid the following mistakes most commonly made by sellers:

1. Refusing To Invest in Potentially Profit-Inducing Repairs:

It always costs you more money to sell 'as is' than to make repairs that will increase the value of your home. Often even minor improvement will yield as much as three to five times the repair cost at the time of sale. Your agent will be able to point out which repairs will significantly increase the value of your home. Even seemingly small “touch-up” jobs can have an impact on the eventual sales price.

2. Failure to Consider Alternative Financing Terms:

Cash is not always the most advantageous transaction. Income level, tax benefits, and current legislation are all crucial factors when considering purchase terms. Professional real estate agents are experts in facilitating your home transaction. A smart agent will lead you to the path that will result in the highest yield.

3. Neglecting to Provide Easy Access For Showings:

Accessibility is a major key to profitability. "Appointment only" showings are obviously the most restrictive, while a lock box is the least. However, there are certain considerations to take into account, such as your lifestyle, time frame for the desired sale and the strength of your relationship with your agent. The more accessible your home, the better the odds of your finding a person willing to pay your asking price. And by developing a trusting relationship with your agent, he or she will show the home with your best interests in mind.

4. Settling on a Purchase Price Lower/Higher than Comparable Sales:

One critical reason to find the right professional is to make sure the property is priced appropriately for a timely and profitable sale. If the property is priced too high, it will sit and develop the stigma as a “problem property”. If it's priced too low, it could cost you considerable profit in the long run. The real estate market has subtle nuances and market changes that should be re-evaluated by your agent every 30-45 days to help you maximize your return.

5. Relying Solely On Traditional Methods To Sell Your Home:

The innovative agent who is willing to offer new strategies for attracting homebuyers will always outperform the agents who rely solely on traditional marketing methods. As a motivated seller, you should demand around-the- clock advertising exposure, innovative lead generation methods and lead accountability. In today’s competitive real estate market, these services are readily available, and your agent should offer them to help sell your home.

6. Overdependence on Market Timing & Seasonal Selling:

Just as a broker who continually follows the trends of a stock, your professional real estate agent should be continually following trends of your real estate market, a practice that could make you aware if and when the market cycle is poised to net you the most money. Although you may hear otherwise, the prevailing myth that property sales are seasonal is just that: a myth. In any market, real estate is always selling.

7. Failing to Make Necessary Cosmetic Changes:

As you’re undoubtedly aware, the prospective homebuyer's first impression is all-important in the sales process. An inconceivable amount of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, and unpleasant odors, all seemingly minor blemishes that ultimately spoiled a buyer’s motivation. The easiest way to avoid this costly error is to imagine that you are the homebuyer and clean your place from top to bottom.

8. Wasting Time With An Unqualified Prospect:

Your agent's responsibility is to screen a prospect's qualifications before valuable time is lost. Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.

9. Missing an Opportunity by Testing The Market:

Never put your property up for sale unless you are serious about selling. If you’re motivated enough, the right real estate professional will find you buyers. If you are flirting with indecision, however, you may just blow the sale.

10. Believing You Are Powerless To Make A Difference:

Don’t be a spectator in your own transaction: take an active role with your agent to see what you can do to facilitate your sale. Networking with professional peers and personal friends has frequently resulted in the sale of a home. In fact, you may be surprised how often homes are sold simply by word-of-mouth.

32 Possible Causes for a “Dead” Transaction

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Wed, 15 Jul 2009 10:12:48 -0700

Nowhere is Murphy’s Law more prevalent than in real estate, simply because when you consider the length and complexity of any transaction, there are usually several opportunities for something – anything – to go wrong. The list below is NOT comprehensive; it’s simply the most commonly cited reasons for a “dead” transaction.

This is a parital list of challenges a Buyer or Seller can face during the qualification stage alone to jeopardize the transaction if he or she:

1. Falsifies information on the loan application.

2. Submits inaccurate personal or financial data to the lender.

3. Late payments in previous 12 months on credit report.

4. Assumes additional debt after date of loan application.

5. Experiences change in employment status.

6. Co-borrower (if any) experiences change in employment status.

7. Income verification lower then stated on loan application.

8. Overtime income disallowed for underwriting purposes.

9. Charges large purchase on credit before closing.

10. Experiences severe financial setback during escrow.

11. Lacks motivation.

12. Gift donor revokes payment.

13. Cannot locate divorce decree.

14. Cannot locate petition or discharge of bankruptcy.

15. Cannot locate tax returns.

16. Cannot locate bank statements.

17. Fails to provide verification of rent.

18. No longer qualifies for a home loan due to rise in interest rates.

19. Loan terms adjust to higher rates, points or fees.

20. Does not disclose child support payments on application.

21. Buyer of Seller is a foreign national.

22. Has declared bankruptcy within the last 2 years.

23. Debt-to-income ratio exceeds 50%.

24. Does not have steady 2-year employment history.

25. Submits handwritten pay stubs.

26. Switches to job requiring probation period before closing.

27. Switches to job from salary to 100% commission-based income.

28. Receives disapproval of the house from family or friends.

29. Believes the property has been misrepresented.

30. Expends funds due at closing.

31. Does not properly document additional gift money.

32. Does not provide cashier’s check to a title company for closing costs and down payment.

13 Questions to Ask When Choosing a REALTOR

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Tue, 14 Jul 2009 08:39:11 -0700

Here are a few tips I have used when marketing my services to buyers and sellers. (hint) You probably want to know the answers too.

1. How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.)

2. Does your company have a Value Proposition?

4. How many homes did you and your company sell last year?

5. How many days did it take you to sell the average home? How did that compare to the overall market?

6. How close to the initial asking prices of the homes you sold were the final sale prices?

10. What type of support and supervision does your brokerage office provide to you? (Having resources, such as in-house support staff, access to a real estate attorney, or assistance technology, can help a real estate professional sell your home.)

11. What's your business philosophy? (While there's no right answer to this question, the response will help you assess what's important to the real estate practitioner-fast sales, service, etc.-and determine how closely the practitioner's goals and business emphasis mesh with your own.)

12. How will you keep me informed about the progress of my transaction? How frequently? Using what media? (Again, this is not a question with a correct answer, but that one reflects your desires. Do you want updates twice a week or don't want to be bothered unless there's a hot prospect? Do you prefer phone, e-mail, or a personal visit?)

13. Could you please give me the names and phone numbers of your three most recent clients?

Do You Love Your Landlord?

Bob and Sue Whigham (Better Homes and Garden Real Estate Big Hill) — Mon, 13 Jul 2009 19:00:58 -0700

Did you know that owning your own home could be cheaper then renting?

It could be cheaper than you think! Cost savings from tax deductions and numerous other areas, make home owning a smart choice. Staying where you are at only gives your landlord the rent and tax deductions. You only get the rent receipts. Owning your own home will change all that and more! A low down payment or even no down payment can get you a home in as little as one to two months. Specialized funding is often available for first time home purchasers.

HOME OWNING BENEFITS:

Home owning offers dollar saving tax credits.

Home owning offers a better environment.

Home owning hedges against inflation.

Home owning allows for future credit issuing.

Home owning gains you valuable freedom.

Home owning ends rental increases.

Home owning provides retirement security.

Home owning permits improvement benefits.

Home owning entitles you to trade up gains.

Home owning provides a retirement device.

Home owning stops rent increases.

Home owning gains financial equity.

SPECIAL FUNDING:

Many lenders offer special financing savings for first time homebuyers. In addition, numerous Cities offer grants, down payment funds, and even lower than market interest rates.

FACTS YOU NEED TO KNOW:

Buyers need to select a loan agent.

Buyers need a credit report ordered.

Buyers need a loan pre-approval letter.

Buyers need to select a Buyers Agent.

Buyers need to apply for special funds

Buyers need to notify of rental termination.

Buyers need to refine home-style needs.

Buyers need to refine location desires.

YOUR agent CAN provide:

1. Special funding acquirement help.

2. Selecting loan broker guidance.

3. Available homes search printout.

4. Home purchasing tips and guide.

5. New home listing notification.