3 Quick Real Estate Tips For Buying A Home

1. Consider the methods of heating an/or air conditioning. Is there adequate insulation from weather extremes?

2. Although you may not be a gardener, landscaping and trees do enhance the beauty and value of a lot and house. Plant deciduous trees, shrubs and vines to provide shade in the summer and sunshine in the winter. Imagine the house in good weather and bad, and in each season. Will you be happy with it year-round?

3. Look carefully at the indoor/outdoor flow of the house and whether you could improve on it. Access from indoor living spaces to exterior spaces (decks etc) encourages outdoor living and appeals to many.

Phoenix Real Estate Club To Discuss Appraisal Process

The Phoenix Real Estate Club in (Phoenix, Arizona) is a a group of real estate investors who benefit from networking with other investors. The members create business relationships and together find investment opportunities.

On Tuesday, September 19th 2006 the Phoenix Real Estate Club will be discussing the Appraisal Process. Do you know who owns the appraisal? Can you understand what it says? James Camp from Real Estate Authority will cover this in his detailed presentation on the appraisal process. He will explain what an appraisal is, how it works, and the importance of timing. James will review an appraisal report explaining how to read it and in what areas investors should pay special attention.

James Camp, owner of The Real Estate Authority, is a Certified Residential Real Estate Appraiser in Arizona and a designated Appraiser. He is the current National Director for NAIFA – the National Association of Independent Fee Appraisers having served previously as the Phoenix Chapter President and State Director. James started his career as a custom home builder in Arizona and Illinois before getting his Real Estate license. He served as an Investigator for the Arizona Appraisal Board and also with the Office of the Attorney General of Arizona. James also served as Director to the Arizona Appraisers Coalition and held the position of Chapter Director and VP of the Society of Real Estate Appraisers.

Education is important to James, as is documented by his positions as Education Chairperson for the Appraisal Institute, Education Chairman for NAIFA and Public Relations Chairman for the Society of Real Estate Appraisers. It is his goal to help the average person better understand the appraisal process.

The Phoenix Real Estate Club is at 24th Street Conference Center1841 N. 24th Street, Phoenix, AZ 85008.

Why You Need To Find An Honest Real Estate Agent.

Honesty is an important trait to look for when selecting a real estate agent. By honesty I mean the ability to tell you the truth at the risk of losing a commission.

The sad fact is that some real estate agents will tell you whatever you want to hear just to make a sale and that is truly unfortunate.

Most homeowner’s are reasonably inexperienced when it comes to buying or selling property. They rely greatly on the “perceived” ability of the real estate agent they are dealing with. In reality, most homeowner’s are “fair game” for a disloyal, dishonest, or incompetent real estate agent.

In any negotiation, WIN – WIN deals are the best. But, sometimes when buying or selling a property, things happen to benefit just one party...the buyer, the seller or possibly just the real estate agent. Therein lies the danger. Who is the real estate agent really working for? Where do his or her true loyalties lie? With the seller, the buyer or themselves?

Read more about dealing with realtors, real estate brokers and agents http://www.your-real-estate-resources.com/real-estate-agent2.html

Real Estate Agents Not Always Popular

Everyday thousands of real estate agents deal with thousands of home buyers and home sellers, so it is not surprising that not everyone will be happy with the outcome (especially when you consider that a lot of money is involved in each transaction). That is not to say that all real estate agents do a bad job or that real estate agents are always right. Far from it!

There are definitely bad real estate agents that drag the industry down, as well there being no shortage of unreliable or dishonest buyers and sellers. So, when hear people bad-mouthing a real estate agent, it could be unjustified.

There is an old story about a man who went to a new area to "see how the land lies" He was told "the land doesn't lie, but the realtors do."

Home Buying Tip - The Property Location

Another quick real estate tip for you...

Before you sign any contract to buy a home, carefully consider the advantages and disadvantages of the property location and siting.

Does the property have good views? Is there easy access to the property? Are the parking or garaging facilities adequate? How is the property sited in relation to the sun and the prevailing winds? A well sited home costs less to heat and cool and can save thousands of dollars over the years in utility bills.

Stay Positive When Buying Or Selling A House

You will get knock backs when buying or selling a house. Not everything in the house sale process will go your way. So try and remain positive regardless of what happens.

Positive people are inclined to ooze with enthusiasm, encouragement and confidence. It is contagious!!!

Negative thinkers on the other hand, make it a habit of dragging others down. Their destructive attitudes and pessimistic ways of reasoning can instil fear and cast doubt in the minds of those involved in the real estate transaction. Stay positive when buying OR selling property!!!

Home Buying Tip - Bathrooms and Kitchens

When buying a home, the kitchen and bathroom areas are usually a major inflencing factor on whether on not the sale proceeds. Both areas need to be practical for person or family buying the home and they need to be clean, usually in good condition and more often than not, they need to be up to date aesthetically.

Most home buyers are fully aware of the costs involved in modifying kitchen and bathroom areas and take this into consideration when buying a home. If major alterations or improvements are required to bring the kitchen or bathroom(s) up to standard, this is often reflected in the price offered.

So, before deciding on which home you are buying, always remember that the kitchen and bathroom(s) are a key factor in any home sale. Do they meet your requirements? Redoing a kitchen is likely to be expensive. So be sure of what you need and want before you buy. The same goes for the bathroom. Do you need one, two, or three bathrooms... do you need a separate toilet, shower, bath, jacuzzi?

Buying Or Selling Real Estate Is A People Business

Buying or selling a property can be stressful at times depending on who does what, what happens, what doesn't happen and any number of unforeseen situations that might or might not occur.

Although there are always guidelines, regulations and laws to follow, real estate sales do differ from one transaction to another.

Buying and selling a property is a people business and for that reason a lot can depend on how quickly and thoroughly each person does his or her job. So, if you are buying or selling a property just remember that people don’t always do what they say they will do.

They don’t always keep appointments. Some people will tell you they will bring their husband or wife for a look through the house – and they never return. Others might tell you they will call around on Friday to sign the contract – they never turn up. Some home sellers don't clean the houses or clear away the clutter before before an open home or before settlement of the contract. Some buyers don't arrange finance on time. Some agents say the wrong things.

So, as you can see any number of things can and often do go wrong. Sometimes it is because people are unreliable, disorganized, dishonest, or even downright incompetent.

It is normal for these things to happen, SO DON’T LET IT GET YOU DOWN! The main thing to make sure that you do you job thoroughly and efficiently and have a plan of action to make sure that others do a good job too.

Home Buying Tip - Property Resale Value

Whether you are buying a house for your own family or to rent out, it pays to think about the opportunities and limitations of the property.

What are the opportunities to increase the value of the property, and ultimately create a positive effect on the property resale value eg. adding a garage, redecorating, landscaping, subdividing the land, adding an extra room or level etc? Pay attention to floor plans. Changing layouts of rooms later, can be expensive.

Home Buying Tip - House Space

If you are looking to buy a home then think carefully about the size and layout of the house and lot.

If you think you may need more space in the future, be sure the house and lot you are buying will allow for expansion. Will your furniture fit in the space? Is there enough storage space in the house? Carry a tape measure with you when inspecting open houses.

Home Buying Tip - Home Improvements

Here is a simple but important real estate tip if you are looking to buy a home.

What needs to be done immediately to bring the property up to your standard (or taste)? What about the color scheme... do you prefer carpets, ceramic tiles, or wood floors? Think not only about what you like, but also about what might improve the property value for when you come to sell.

Think about what might need to be done in the near future in the way of maintenance or improvements? What cost will be involved?

Expect lower maintenance costs with a brand-new home.

How Flat Fee House Sales Are Catching On In New Zealand

It is always interesting to know how real estate sales operate in different parts of the world.

In New Zealand real estate agents usually charge about 4 per cent commission (compared with 2 to 3 per cent in nearby Australia) depending on the price of the property. There is usually only one agent involved who is paid by the property seller and the same agent presents the offer to the seller on behalf of the buyer.

New Zealand has a population of just over 4 million people and has around 17,000 real estate agents. The 4% commission on an average sale is up to $15,000 with the commission usually split 50/50 between the real estate agent and the real estate office. However, for higher priced properties a lower commission rate of between 1% to 3.5% is often negotiated.

Many in the industry believe that the commision rates are too high and believe that the country is ready for flat rate commissions.

A couple of flat rate companies have spread their wings by opening offices around New Zealand. They employ staff rather than have commission agents. These flat fee real estate offices are charging around $5,995 to $7,995 per sale compared to the usual $15,000 (approx) commission.
They argue that it takes just as much effort to sell a higher priced property as it does a lower priced property.

Home Buying Tip - Check Easements And Permits

Before buying a property check to see if there are any illegal structures on the land?

Are there any outstanding permits that have not been signed off by local authorities?

Are there any easements like the right to pass across the property, the right to construct and maintain a roadway across the property, the right to construct a pipeline under the land, or a power line over the land? Easements can affect the value of a property so always check legal issues before signing any real estate contract. If unsure always seek professional legal advice.

Who Is The Dual Agent Working For?

Good question - is it the buyer, seller or the agent?

Don't get me wrong, a dual agency isn't always a bad thing - it really depends on how ethical the agent is.

Most USA States require agents to inform their clients whom they represent. Dual agents have a responsibility to both the buyer and the seller, and must disclose the relationship to all interested parties. A dual agent cannot disclose to the seller what the buyer is willing to pay and cannot disclose to the buyer what the seller is willing to take. Dual agents must disclose all known material defects.

Home Buying Tip - Are The Electrics And Plumbing In Good Working Order?

Electrical wiring and plumbing are areas that are frequently overlooked by homebuyers. This is because the wires and pipes are usually in the walls or underground - so they often get forgotten about.

Faulty wiring is dangerous and could pose a potential fire hazard... an it can be expensive to repair.

The plumbing also needs to be considered when arranging the home inspection. As a matter of interest, when I visit an open house I make it a habit to run the shower to check the water pressure and water temperature.

Real Estate Blog Is Moderated

A quick note to all readers of this real estate blog. Your genuine comments are welcome and encouraged, however we have had several people trying to SPAM the blog with links to totally unrelated websites. For this reason we do moderate all comments on this blog and do not publish anything we consider to inappropriate or unrelated to real estate or mortgages etc.

We are doing our best to provide good independent content which we hope will be of interest to anyone buying or selling real estate. Comments are most welcome as long as they relate to the subject.

Moderator

Will The Real Estate Agent get You The Best Deal?

Unless you are in a really strong seller's market, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers.

On the other side of the fence is the listing agent who should hold a track record for negotiating sales prices that are very close to list prices.

Keeping A Dual Agent Honest

If you are considering buying a home find out who the agent is representing. Don't automatically assume that the real estate agent is working solely for you the buyer.

Some agents (dual agents), perform a dual role and represent both the buyer and seller. As buyer it is important to understand that the agent might have a financial responsibility to home seller. In most USA States agents are required to inform their clients as to who they represent.

If you are going to buy a property using a dual agent then discuss with the agent how he or she plans to be fair to both parties.

One way of keeping the dual agent honest is to obtain comparable prices of homes in that neighborhood from another real estate firm. When buying a home it is important to be reassured that the property is good value for money and has not been overpriced. Most real estate brokers will provide this information free of charge.

Another way of checking on the dual agents credencials is to ask to talk with some of the agent's past clients. Talk with buyers and sellers who were involved in a dual agency transaction. The important thing is to be comfortable with how each party was treated. Did the dual agent act fairly throughout the entire sales process? Did the dual agent fully explain his or her role early on in the real estate process? Would the clients recommend the dual agent?

Will The Property Attract Genuine Interest In The First 30 Days On The Market?

Fact: Over priced real estate listings turn many buyers off.

When listing a property for sale, the first 30 days are the most critical. The first 30 days is the time when most buyers (and real estate agents) will see the real estate listings.

The first month on the market is the key. BUT... when a property is over priced, or stays on the market too long, interest wanes. Potential buyers (and real estate agents) will be suspicious, ignore the listing, or they will simply move on to another property that is more realistically priced. So, that's why the initial 30 day period is critical when listing a property for sale.

Some sellers, however, believe that if someone is really interested they will counter-offer. Yes, that may or may not happen. But, there is the risk that well-qualified buyers may just walk away, never to return.

Why A Property May Vary In Price

A number of factors can affect the selling price of a home and sometimes the reason why one home sells for a higher than another is not obvious at first glance.

For example; two properties may look the same from the outside but be immeasurably different inside. One may still have 70's, 80's or 90's decor whilst the home next door may have undergone major updating and interior improvements.