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Real Estate Guide

Found 7 blog entries about Real Estate Guide.

Search for home online

I'm going to age myself here, but before consumers had access to homes for sale online, we used a thick book with tiny black and white photos to help people find homes. To make matters worse the pictures were done by a drive-by photographer, there was one photo per house, and the books came out every two weeks. The only way to see new listings before the new MLS book came out was to get in a line for the office computer via a dial-up modem. 

Fast forward to the mid-nineties, when a new site called REALTOR.com came out which allowed buyers to search for homes themselves using a desktop computer. By 2000 we rarely used the books, many agents had computers in their office, and a few even had a personal website with homes for sale. Since then we've

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Was it online, by referral, at an open house or with your old agent?

Searching for a home onlineThe statistics show us that most buyers start their search online months before they are ready and according to the National Association of REALTORS®, 87% of buyers purchased their home through an agent. So where in the process are you engaging with an agent and how are you finding them?   

Today we see malls dying, stores closing and people buying everything from airline tickets, household items, and even groceries online, so we get it. However, plane tickets, vitamins or household items are not the same as buying a home. For one buying a home comes with a huge commitment not only financially but emotionally. On top of that, when you are ready, you will need the services of a

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Avoiding the Domino Effect!

Selling your home and buying another is stressful enough, and waiting for someone else to sell first can send you over the deep end. In the real estate business, we refer to this as the domino effect, and you’ll need a bulldog in charge, to help keep your sanity.

Domino Effect

Here's an example of a recent Dominio Effect!

A few weeks back we had a buyer client insist on finding a home before selling because she felt her home would sell fast. However, going shopping before you have the money is not the preferred way of doing things, especially in a fast-paced market, but our team explained the potential risks. Lucky for her she found a home, the seller agreed to wait, and she did sell fast. Even better her buyer didn’t have

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Real Estate LicenseYou would think after 30 years of being a full-time real estate professional the dreaded “Are you still in real estate” question wouldn't come up yet it does. Each time I hear it I bite my tongue, smile and say “yes I am.” The truth is this is how we make a living it's not a hobby or part-time gig, and we’re not “in” it. In fact, most professionals will tell you they live, eat and breathe real estate.

So the question is why do people think we’re “in” real estate? It could be that some get “in” the business part-time to make extra money. There are some who retire from a profession or job and got “in” our business for something to do. There are others that take the class, get a license and say they’re “in” real estate but have never sold a home. 

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In this world, nothing is certain except death and taxes, yet so many buyers miss the tax part when looking for a home.

Michigan Property taxes

Unless you're paying cash for your home, property taxes are important because they've figured into your mortgage payment and qualifying ratios. This is one reason why so many agents require a mortgage pre-approval before showing you homes. This way your agent knows what amount the lender is using for taxes, so they can adjust the sales price of homes you're looking at up or down, depending on that amount.  

For instance, $4800 for taxes or $400 a month is a whole lot different than $2400 or $200 a month. 

Another equally important item is the Millage Rate and believe it or not one of Rooms Realty's most visited pages.

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Savvy Real Estate Tips

Make it HappenSeveral years ago we had a client moving back to Michigan with a short window to find a home. At the time the market was filled with foreclosures and some not so nice houses but "G" as I'll call her had one phrase for us "Make It Happen." In other words, do what it takes to get the job done. Ed was able to find them a beautiful home in Shelby Township in their price range and one that allowed them to move right in.

However, like most real estate sales, there were a few hoops we needed to get through to get to the closing table along with a few problems right before closing. We were able to resolve all the issues by staying proactive instead of reactive and by keeping the lines of communication open.

In this market, you may

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Searching for homes onlineYou've spent the last few months surfing from website to website looking for a home, you make notes and finally find one you like. You call the agent listed on the site to schedule an appointment. The agent asks you a few questions and confirms your appointment to meet at the home. When you arrive, they introduce themselves and begin the tour. While walking through the home, the agent begins asking more questions only now it's about your finances and your housing situation. At this time you need to know who the agent is representing if they have not discussed agency disclosure with you?

A look back at agency disclosure

In 1983 the Federal Trade Commission did a study and found that 72% of the buyers thought their REALTOR® was representing them. The

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