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Residential Savvy

Each Friday, begin your weekend with a "mini" lesson on various real estate topics. Get your insider info directly from Cindy Knight! She will teach "mini" lessons on topics ranging from escrow accounts, taxes, insurance, assessed values, how the real estate market works, uncover those often "difficult" real estate terms, home inspections, and much more!

Found 7 blog entries about Residential Savvy.

These days I'm referred to as a veteran real estate agent, which means I've been around awhile. Having experience helps our clients because we have market knowledge, we've experienced hundreds of transactions, and seen tons of changes. However, every sale, situation, and real estate market is different and a new learning experience. So today, to better understand you the consumer, Rooms Realty would like to turn the table and ask you a few questions with a survey.  

Real Estate Consumer Survey

Below are the questions we think would help us, help you!  

  1. Have you heard of Agency Disclosure? - This law has been on the Michigan books since 1994, but we've found most consumers have no idea what it is, how it can protect them or that brokers require it to be signed.  
  2. Do
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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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Rooms Realty BLOG gets a Face Lift!

Face Lift Image

Well…not literally!

We are excited to announce that beginning tomorrow, May 1st our Rooms Realty BLOG will be changing a bit based on our findings from readers like you. This blog will cover a variety of topics that followers have expressed interest in. While most of the blogs will be in the “written” form, watch for those occasional vlogs…we want to keep you on your toes!

Here is what you can expect from our “improved” blog. We have decided to go with daily themes so that our readers know what to expect when. We hope you enjoy the NEW Rooms Realty BLOG! 

Rooms Realty Blogging Schedule

 

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