Posts Tagged ‘Buyer Tips’

Financial Reasons to Buy

Tuesday, April 12th, 2011

Setting Aside The Personal Why Of Purchasing A Home

Ever since most of us can remember the American dream has been baseball, apple pie, mom, a good job, and oh yes to be a homeowner. It is an iconic, and social mark that most all aspire to rise to in their lifetime. In recent years, people have been a little hesitant about buying a home due to the huge market modification that has played out with all the foreclosures that took place. Owning a home is still the best investment a person can make on an individual basis in the United States.

For example if you are paying twelve hundred a month for a three bedroom two bathroom apartment, and you have six thousand dollars sitting in your IRA or passbook savings account. Your net worth would be valued at the six thousand you are holding onto currently. If you owned a home according to the nations average, your personal net worth would be about one hundred and eighty six thousand dollars.

Over the last six decades, homes on the average have risen in value each year on average of 4.8%. Even when the market has a slight downward slope it has always recovered, and started it slow climb once again. Of course, California, and Georgia seem to be the worst hit during the fallout, but Texas has seemed overall immune to what is going on in the other forty nine states. This is where your return on investment comes into play, and once the mortgage is paid off, you will have usually doubled your original investment in the home.

The fact most people will never have enough money to retire on without working is another reason to own a home right now, as once you are in your golden years, and need that equity to live off of while living in a retirement community for the rest of your years. This will pay your bills way down the road, and an apartment dweller will never have that safety net in place.

Saving money on taxes to keep your housing or monthly mortgages low, is a big reason also, and some first year homeowners are receiving in the area of eight to ten thousand dollars in tax deductions from their home interest payments during that initial twelve months. There are also additional tax credits available when replacing certain products and appliances in a home with

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The Home Builders Association of Greater Dallas

Monday, October 18th, 2010

Do you have plans to buy a new home or build a home of your dreams? If so, then your first stop should be with the Home Builders Association of Greater Dallas.

The Home Builders Association of Greater Dallas, which was founded in 1944, is an

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Your Responsibilities when Working with a Buyer

Friday, July 23rd, 2010

Choosing a buyer

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Making an Offer on an Overpriced Home

Wednesday, July 14th, 2010

You see a home you love, but the sellers have it way overpriced. If you walk away, you could be walking away from owning a fantastic home. However, if you put a realistic offer on the home, you could be in for a straight rejection or a supreme battle.

Why Buyers Shy away from Overpriced Homes

There are many reasons why homebuyers shy away from the overpriced home. First of all, they want to avoid a fight; or, at the very least, they want to avoid offending the seller. It may be quite an embarrassing situation for the buyer to be caught in.

Many buyers assume that sellers with an overpriced home already know the home is overpriced and that there will be little room for negotiation. If you knew a Coppell property was overpriced on purpose would it even make sense to waste your time putting in an offer? You would probably also assume that the sellers have received a low-ball offer at some point along the line, and that they already rejected it.

Should you still make an Offer?

So the question becomes: should you still go after an overpriced listing?

The best way to find an overpriced listing is to examine the number of days the home has been on the market. Next, ask your agent to perform an analysis on the home and to give you an estimate of what the home is worth. One of the most important things to realize is that, more often than not, the sellers are not even aware that their home is overpriced. Many times their listing agent is afraid of offending them by telling them that their home is overpriced!

Because of the condition of the real estate market, and the number of homes that are on the market at any given time, it may be a really good idea to make an offer on an overpriced home. It is important, however, to come armed with the information you obtained from your own market analysis. A great way to get the ball rolling is to offer the sellers a large earnest money deposit to show your interest.

Finally, understand that, although the seller may have turned down other low-ball offers from buyers, you could be entering the picture at the right moment when the seller is ready and willing to sell the home for less than the asking price. In other words, never assume anything when it comes to buying an overpriced home!

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New or Old? How to Choose the Home that

Tuesday, June 8th, 2010

There is a seemingly endless array of decisions to make when purchasing a home. Where do I want to live? How much home can I afford? What amenities and features do I want in my home?

Another important question that many buyers face is: do I want to purchase a new home or an existing home?

The answer to this question may be a bit tricky, as there are a number of pros and cons to purchasing both a new home and an existing home. Here are some factors to consider when making your decision between new and old:

  • Workmanship and craftsmanship – Many home buyers gravitate towards older homes because, often times, there is more attention paid to craftsmanship in older homes. Although this is often the case, many of the newer homes also have beautiful features that are reminiscent of older homes.

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What you need to Know when Buying a New Home

Saturday, June 5th, 2010

Buying a new home doesn’t have to be a stressful experience! In fact, if you know what to expect, and are prepared for what lies ahead, purchasing a new home can be quite enjoyable and satisfying.

Unlike purchasing an existing University Park home, purchasing a new home presents a number of challenges, including the construction process and working with a builder. However, there are a number of things you can do to ensure that your home buying experience can be incredibly rewarding, provided you understand the process of purchasing a new home.

  • Find a lender and get pre-qualified – Just like a typical home loan, you must get pre-qualified with a lender. Many times, home builders work with particular lenders, and can offer buyers additional incentives if they use those lenders. However, it is still a good idea to check out rates and terms with other lenders before deciding on the builder’s lender. Don’t let incentives sway you; instead, pay close attention to interest rates and look at the long-term picture.
  • Narrow down your home choices based on the area in which you want to live – The process of building a new home or finding a new home community is a lot easier if you narrow down your choices according to geographical factors. Things to consider when deciding on an area in which to live include: the school district; the proximity to your work, school, church or highway; the neighborhood itself; and home values.
  • Use the Internet to begin your search for new homes – Many new home communities and builders have great websites that you can use to learn more about the new homes. Searching the Internet for new home information can save you a great deal of time and leg work.
  • Consider hiring a real estate agent instead of using the builder’s sales representatives - The sales representative for a new home builder is working for the builder, not for you. It is because of this that you may want to consider using the services of another qualified real estate agent when purchasing a new home.

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A Guide to Securing your New Home

Monday, March 8th, 2010

Fort Worth new homes are often spacious, luxurious and armed with great design features and amenities.

However, Fort Worth new homes may also be a target for burglaries. It is because of this that you should consider your security options when moving into a new home.

Many Fort Worth new homes include excellent security systems, although some do not. Even for those with security systems, you may want to upgrade the security in your new home so that you can protect yourself, your family and your possessions.

Tips for Securing your new Home:

  • If your home was occupied, change all the locks before moving in – Although the former owners may think they retrieved all the keys to the home before moving, they may very well have forgotten one or two. It is because of this that you must have all the locks changed once you have purchased the house.
  • Meet the neighbors and ask about any neighborhood watches – Introducing yourself to the neighbors is a great way to establish bonds and create friendships. It is also a great way to develop a community presence so that you and your neighbors are aware of anything out of the ordinary. If your neighborhood does not have a neighborhood watch in place, consider hosting a party or barbecue and getting one organized.
  • Check the home’s current security system and upgrade, if necessary – Ask a professional to check the home’s security system to make sure it is adequate and in good working order. Ask about upgrades, such as motion detectors and additional keypads.
  • Think like an intruder – Check all points of entry into the home and make sure they are well-lit. Also, make sure there are no trees or shrubs near the home that may provide a hiding place for an intruder.
  • Check your sliding glass doors – Sliding glass doors can be an easy entry point for an intruder. Luckily, however, there are many types of locks that can secure these types of doors.
  • Check your windows – Make sure all the locking mechanisms on the windows function properly, and that they are also protected by your home’s security system.

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Seller Tips: How to Handle the Home Inspection Process

Wednesday, November 18th, 2009

A home inspection may be one of the most stressful parts of selling your Coppell home, as a deal essentially comes down to a good home inspection.

The offer has been made and accepted, so now it’s time for the buyer to call in a home inspector to check out your home, from top to bottom. Although it is up to the buyer to hire a home inspector, there are a number of things you can do, as the seller, to make sure the process of inspecting your Coppell home goes as smoothly as possible:

  1. Allow your real estate agent to represent you during the home inspection. Being present during a home inspection services little purpose, other than to make both you and the buyer a nervous wreck. Instead, leave your home in the capable hands of your real estate agent, who can serve as your representative and report back to you about the home inspection.
  2. Don’t take it too personally. Always remember that the job of the home inspector is to inspect your home, not find fault with you. It is therefore best to accept the results of the home inspection and to not get defensive about the findings.
  3. Take the time to review the home inspection report before complaining or fighting the inspector’s findings. The time to negotiate is after the home inspection is complete and the report is in everyone’s hands. Don’t get ahead of yourself and begin refuting the findings even before you have a chance to review the report.
  4. Remain honest. The very best thing you can do is to simply remain honest. If you don’t remember when you last serviced the furnace, just say so. Guessing or fabricating answers will only end up hurting you – and possibly the buyer – in the end.
  5. Remain flexible during negotiations. After the home inspection, the buyer will likely begin negotiating repairs with you. If you become instantly defensive or inflexible the entire deal could fall apart. Try to see the process from the eyes of the buyer, and understand that if you were buying a home you would want to see certain repairs made, as well.

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Buyer Tips: The Ins and Outs of Home Warranties

Monday, November 9th, 2009

You’ve probably heard of home warranties, and you might have some questions regarding their value. Many times, home sellers offer home warranties as a way of enticing buyers to purchase their Coppell homes; other times, buyers purchase their own home warranty.

Whether the home warranty is being offered by the seller or paid out of your pocket, learning about the advantages of a home warranty will better help you make the decision if you should carry a home warranty on your Coppell home purchase.

Q: What is a home warranty and how does it work?

A: A home warranty is an insurance policy, of sorts, that is designed to cover the cost of repairing or replacing certain items in and around your home. From electrical and plumbing issues to broken appliances and a malfunctioning furnace, home warranties can often cover many of the major areas in and around your home. You can also purchase additional riders on your home warranty that cover extra items, such as swimming pools and Jacuzzis.

Most home warranty policies are taken out for the year, and paid upfront, although there are many home warranty companies that allow you to pay per month, and many can add the monthly premium to your mortgage payment for convenience.

Home warranties are designed for existing homes; new home warranties, offered by builders, are different than home warranties.

Q: What do I do if something that is covered by my home warranty breaks?

A: Your home warranty company will likely have a toll-free number that you call to file a claim. The home warranty company then calls a local company that is partnered with them to make the necessary repairs. A small service call payment is usually collected by the local company at the time of repair. If the item covered under your home warranty cannot be repaired then the warranty covers the replacement, or replacement cost, of the item.

Q: Is it worth it to purchase a home warranty?

A: Most homeowners find that home warranties provide convenience and peace of mind. The small, monthly premiums are usually much less than it would cost to pay a professional to repair or replace a large item, such as a furnace, air conditioner or appliance, for example, so many homeowners find that purchasing a home warranty is a great way to provide them with the peace of mind knowing that if something breaks it won’t break the bank.

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