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Cary NC Real Estate>>1st Time Homebuyer's Online Toolkit

I have the pleasure of working with 1^st time homebuyers this weekend. My clients are relocating from out of state where home prices are astronomical and they are excited about the affordability of homes here in North Carolina. 1^st time homebuyers are my favorite - they listen closely to the advice of professional agents and are full of energy, excitement, enthusiasm, and questions. That's when the wheels started turning and I started thinking....

What can I provide to my clients that will help simplify the home buying process? They are young, tech savvy, have their own personal blogs, use my space, realtor.com, etc, etc. That said, I read a post this morning by Karen Krushka entitled Homebuyer's Guide. Karen strikes me as a very traditional agent and she indicated that she has several homebuyer guides- one in Powerpoint, brochure format, and even a bound version. That's when the wheels started turning again and I started thinking......

What about an online reference guide from none other than the powerful gurus from Active Rain? Ken Stampe just started a new group called First Time Homebuyer on 8/23/2007. What a great idea. Since this group is new and my clients will be in town this weekend I'm going to pull together a few reference topics and member posts that my clients might enjoy reading through while they are going through the homebuying process. Feel free to add any links in your comments - I won't be offended.

1. Find a Qualified Buyer's Representative

The Advantages of Using a Buyer's Agent by Tracy Santrock
Best of Buyer Agency by Tracy Santrock w/links to several AR contributors
Buyer Agents, Should I work with one? by Matt Ratcliffe

2. What to expect with the buying process

Buying your first home can be intense....... by Jeff Belonger
The Real Estate Buyer's Guide To The Home Buying Process - Part One by Danilo Bogdanovic
The Process of Buying a Home by Lawerence Yerkes
10 Steps to Buying a Home by Ramsey Yount

3. Assess Your Credit and Finances

Prequalification & Preapproval by Valerie Archer Belardo
Buying a home? How much can I afford? by Jonathan Saffiedine
Fees on a mortgage by Hank Parmenter
Seven steps of the loan process by Ki Gray

4. Find the right home

Find The Right Home For You by Jeff Flower

5. Negotiating the contract

YOU WIN SOME, YOU LOSE SOME. ALL IN A BUYERS AGENT'S DAY by Lynn Harley
Top Negotiating Skills Are A Must For Success by Laurie Furem
Real Estate and Poker: The dynamics of adjusting to the situation. by Edward Mehnert
How much is the right amount of Earnest Money? by Paul Renton

6. "Seller Market" Issues
Bidding in a Hot Market by Tracy Santrock
Evaluating Multiple Bids by Scott Gerami
Raleigh NC Real Estate - #1 Sellers Market in the Country by Tracy Santrock

7. Inspections & Repairs

An Inspection of Home Inspections - Do They Matter? by Donna Yates
Questions and Answers regarding Home Inspections by Donna Yates
REQUESTING REPAIRS ~ It's not a blank check to create a dream home! by Glen Huxtable

8. Closing with an attorney

In some states across the US Title Companies are used for closing. In North Carolina Attornies handle the Title search on the property and the closing details.

Buying Your Home: Settlement Costs and Information At this site you can receive a free guide to closing and cost details.
OVERVIEW OF CLOSING A PURCHASE TRANSACTION by Michael Hamar

9. Agency Law in North Carolina

The North Carolina Real Estate Commission requires, by law, that all real estate agents educate their clients on their rights and options as a buyer or seller in the State of North Carolina. This link provides, in detail, agency law in the state of North Carolina.

10. Special 1^st Time Homebuyer Program in North Carolina

The North Carolina Housing Finance Agency (NCHFA) has special programs for 1^st Time Homebuyers. There are specific requirements that met including income restrictions, not having owned a home in the past three years, and the price of the home. For those that are eligible this is a great option.

This should get any online savvy buyer a start and a reference as they muddle through the buying process. You don't have to be Einstein to figure out how to buy a home but being educated and going into the process armed with knowledge will be a blessing.

Posted by Tracy Santrock-Cary NC Real Estate Realtor on 09/05/2007 12:47 PM

Comments (28)

1st time homebuyer, fonville morisey buyers agent, nc, north carolina

Originally posted at: Cary NC Real Estate >> Raleigh & Cary NC Real Estate Blog: Cary NC Real Estate>>1st Time Homebuyer's Online Toolkit

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28 Comments on Cary NC Real Estate>>1st Time Homebuyer's Online Toolkit

SEP

2007

Wow, you should get an award for this post. Awesomely put together and very well thought out. Great work. You should have put this in one of Byrant contest blogs.

Good luck and I hope this helps with your business.

O great blog.

Flagged and rated a 5! This should be a feature and thanks for the mention of the First Time Homebuyer Group!

Wow Susan, thanks for the compliment. I know my clients will really benefit from this "Toolkit".

Tracy: Wow!!! This is such a well thought out post chocked full of information that every home buyer can find useful as well as those of us who are passionate about our home buyers. Great job Tracy! I hope you don't mind, but I've bookmarked it so I can refer to it again and again.

Hi Kris,

Thanks for the Kudos!! I'm hoping that I can add to this, make it even better, and then use it as an online resource for my clients.

Tracy: That's an excellent idea!

Tracy, this is outstanding! I will definitely be reading all of the posts and adding some great notes to my AR notebook. You did an excellent job and you deserve a 5!

I don't know how many times I have sat down to make a home buyers' guide. I've completed the outline, writtten some paragraphs and then got busy with business! Agency is the only topic I truly fleshed out and it constantly needs revision as I clarify and find better ways to explain this topic. I've got the flowchart done and some checklists, but still far from completion.

SEP

2007

Donna- Thanks for the Kudos!!

Bonnie - You are such a talented writer! The flow chart sounds fantastic!!! Clients love pictures/visuals!!

SEP

2007

We were certainly in good hands with Tracy being first time home buyers. The process went so smoothly and we felt like the decisions we had to make were educated and intelligent due to Tracy's expertise! Thank you, Tracy!

Awwh!! Thanks for your comment Julia and Jonathan. Feel free to reference other experts in the network. They have a lot to offer. I'm really excited that I've had the opportunity to work with you.

SEP

2007

I have alot of 1rst time homebuyer customers in Burlington. I would like to give them a copy of your blog. This is very helpful.

OCT

2007

Sure Kate,

I hope your clients find it beneficial. I know my clients do!!

OCT

2007

Great post and I rated it 5. I like the way you put the information out there and it is something that I will reference with my first timers. I believe it will help anyone that reads it. Thank you . Bookmarked.

NOV

2007

Tracy.... I agree with Ken Stampe that this should have been featured. Even the good ones fall through the cracks. It's good to still see you around here because I remember first e-mailing you the end of last year, I think.

In any case, thank you very much for the mention and great post.

Tracy,

This is Great! I read an article this weekend about Lulu, where you can publish your material in a book form.....then order 1, 2 or as many as you need. In other words you should publish this!

Dick Beals

NOV

2007

Good Consolidation of resources for putting things together. Definitely worth taking notes on this one.

Bonner

DEC

2007

This post has turned out to be a great asset for the 1st time homebuyers I've worked with as well as other agents that have called me about their clients. I'm glad that I can provide a valueable resource for all :)

FEB

2008

This is a great post. I like to work with first time buyers and give them a Buyer's Hand Book. I like the idea of online tool kit.Thanks for the tip.

FEB

2008

First Time Home Buyers are the bread and butter of real estate now. The online toolkit is a great idea.

JUN

2008

Thanks for the kudos. My clients have really enjoyed the benefit of this online resource and I use it over and over again! It's just about time I write an update w/more details...

JAN

Wow! I am so impressed with your points. I am from Benson/McGee's Crossroads Area. I am an ActiveRain newbie and I am excited about all the helpful information. Love this post. I am going to bookmark this one.

MAR

Thanks, I read several things I forgot first time buyers might not know about ...I'm going to make a point to bring their attention to these.

MAR

Tracy, although we don't use attorneys here in Arizona, you have presented some very valuable information for first time home buyers. I have bookmarked for future reference. Thank you.

MAR

Great post. There is a wealth of info here. Thanks!

MAR

Great job Tracy! Leave it to an FM'er to pull it off. Beats the 25 page booklet I've been sending out. You've inspired me.

MAR

Thanks Leigh! I appreciate the kudos!

MAY

Great post, lots of ideas, I'll be reading for awhile.

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