Why Use the Services of a Real Estate Agent?

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This question is often asked, especially by homeowners who consider selling their homes by themselves.

The fundamental first answer to this question is that an experienced realtor is an expert at what he or she does. Through hard work and education, they’ve acquired a set of skills that make the process of home buying and selling a lot easier than it would be by doing it yourself.

So, what are the skills in the set I’m talking about?

Well, for one thing, we have the skill of being the go-between. We’re the people who handle people and calls and separate the “wheat” (real buyers) from the “chaff” (non-buyers) without you ever having to deal with such situations. In Internet terms, we make sure you’re not “spammed” with worthless offers and target real deals for you.We’re also the ones who save you a lot of time by making sure you’re looking at appropriate properties and neighborhoods right from the get-go.

And, speaking of neighborhoods, an experienced realtor will know them inside-out or will know how to find the latest information on them. That means he or she can get you into neighborhoods where the crime rate is low or non-existent, find you ones with great school systems, rising property values, etc.

By the same token, an experienced agent will steer you away from neighborhoods where the trends are downward; that is, rising crime, falling property values, and so forth.

And what about the prices of homes? Well, some people believe that we select them for our clients. Not true! We have no way of setting prices. They’re set by the market! However, we can guide you toward properties that fit your individual needs and are comfortably within your price range. Frankly, it’s not in our best interests to put you into a home beyond your means or that’s not right for you. When that happens, we lose clients and money!

So, we’ll do our best to work within your price range and, based on current information (market supply, demand, etc.), we’ll come up with the best negotiation strategy possible. Current information can include cost-per-square-foot of homes, ratios of list-to-sold prices, knowledge of the buyer/seller, etc. All this information is gathered by the agent and used to formulate solid offers.

Another important skill experienced Realtors possess is objectivity. We have the ability to stay out of the emotional process that often occurs with the buying and selling of a home. Instead, we present your case in the best light possible, all the while holding your information confidential from any competing interests.

One realtor skill that’s often not apparent is our ability to network with other service providers (housing inspectors, title companies, etc.) Professionally, we can’t recommend one specific vendor over another. However, we do keep lists of vendors with excellent reputations as well provide references for the vendors. This service allows you to choose the best provides for your particular situation.

Now, here’s one realtor skill that everyone truly appreciates – the ability to handle tons of paperwork! Today, purchase agreements can run 10+ pages, and that doesn’t even include all the state and federal disclosure statements that are required in the current market! Heck, a real estate file can end up being 2-3 inches thick with paperwork these days!

And it’s not only the heavy paperwork handled by realtors; it’s also the attention to detail within that paperwork. It’s their job (or a lawyer’s, depending on the state) to make sure all the information is correct because if it isn’t, it can end up costing the client hundreds of dollars. 

So, as you can see, there are many reasons why it’s wise to use an experienced Realtor for the purchase or sale of a home! To find out about the services I haven’t mentioned in this article, contact me today.

Four Big Reasons To Sell Your Home During the Winter

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One of the most common things a real estate agent hears from home sellers during the winter is that they want to wait until spring when the buyer's market begins.  Unfortunately, this is a terrible way of thinking and may cost you thousands of dollars on the sale of your home.

There are four main reasons why it's a great idea to sell during the winter months.  In fact, I'm selling my own home right now because of these four important points.

No Tire Kickers in the Cold

First of all, you have to understand that the buyers who are looking during the cold, winter months are much more serious than buyers that are out during springtime.  Believe me when I say that there are no “tire kickers” wandering around in 20° temperatures.  Buyers who are out looking at properties during the winter months are very serious.  They are not looking at dozens of different houses like spring buyers do.  Instead, they are zeroing in on properties that fit their needs, and they are making offers quickly.

Less Competition = More Money

Secondly, there's a lot less competition during the winter months.  This is mainly because home sellers are under the mistaken assumption that it's better to sell their house in the spring.  Less competition means more money for you as a home seller.  Because there are less houses to choose from, buyers are much more serious when making their offers.

Interest Rates are Great

Third, interest rates are fantastic right now.  In fact, they are still well less than 4%.  That means that buyers are getting more house for the money.

A Perk For Springtime Buying

Finally, selling your house in the winter will allow you to turn around and purchase a home in the spring.  Why is this important?  You will get to sell your current house at a higher price and buy another home at a lower price in the spring.  Because there will be more houses available, as well as more buyers, home sellers are much more negotiable on their price during the spring months.  This will also allow you to be a non-contingent buyer so you won't have to wait on the sale of your home and potentially miss out on the perfect property in the spring.

As always, we are here to help you with any real estate need that you have.  Give us a call today to discuss your next real estate transaction.

What Determines the Value of Your Home?

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Basically, a home's worth is determined by its market value. How is "market value" determined? Most often, it's figured by a comparison ("comp") with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it's likely that the value of your property will fall in the same range. But market value is also determined by a number of factors including the following: 

External Factors 

There can be several external factors influencing the value of your home. One is "curb appeal", or the first impression your property makes upon prospective buyers. A home that's in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc. 

Internal Factors  

The condition of a home's interior also has a huge influence on prospective buyers. When you've demonstrated "pride of ownership" and kept up the maintenance (quality paint, trim, molding, etc.), a buyer's interest will immediately perk up for the simple reason that they know your care and concern will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc. 

Supply and Demand 

"Supply and demand" simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. In effect, supply and demand affects how quickly your home will sell. Location More than likely, you already know the old saying, "There are three main factors in real estate - location, location, location." While that's not the whole story, desirability is a big factor for home buyers. They may want to live in particular school district known for its education excellence…a great and safe neighborhood with rising property values…etc. 

But I Know My Home Is More Valuable Than a Lot of Comparable Homes in My Neighborhood  

Aren't Allowances Made for This? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties. 

Where Do I Find Sales Comparison Information? 

The easiest source to access is your Realtor. After all, it's his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home's value in comparison to others in your neighborhood. Here's an overview of them:

1. ) The Local Assessor's Office  

It's very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service. 

2.) Online Private Companies  

You can search for these companies using the Google search engine and the keywords "comparable home sales" or "comparable sales." Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google "real estate database" and type in the name of your particular state to get additional property information. 

3.) Your Local Newspaper  

It's likely that your local newspaper is a great source of specific real estate information. Look for quarterly sales reports in the real estate or business sections.

The Key to Getting the Price You Want (or Close To It) for Your Home 

The key to getting the best value is finding and matching the right buyer to your home. And that's the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out "lookers" and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me today!

The Four Secret Ingredients to Buying and Investing Successfully

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Just this week, I finished up working with some great buyer clients named Mike and Debbie.  I was able to find their dream home with the help of my dedicated team.  Because they had exceptional tax return records, they were able to close within just three weeks.  All of the four secret ingredients for a successful transaction were in place.

In order to close a regular or investment deal in this real estate market, you have to know the four secret ingredients to making the process as smooth and effortless as possible.  Here are my four top tips for buying and investing successfully:

First, you need a top producing agent.  This means that you need to find an agent who works full time and works every day.  Believe it or not, there are still agents out there who do real estate as a “hobby”.  I don't know about you, but I wouldn't want someone practicing on my real estate transaction.  This agent needs to be knowledgeable about the market and have exceptional negotiating skills.  There is no question that these negotiating skills are very important in the current real estate market since competition can be fierce.

Secondly, the agent you hire needs to have a full-time staff is dedicated to finding you the perfect home.  This is true whether you are looking for a home to live in or investment property.  A real estate agent support staff can mean the difference between a really great deal and missing out on something that the agent didn't see.  This includes research into all new listings in the area as well as pocket listings.

The third secret ingredient is an expert lender who can secure the best interest rates for your deal.  Lenders who have lots of experience in the market place will know what to look for and how to secure the proper type of loan for your situation and financial needs. They will be up to date and current on the newest loan programs available.

Finally, you need a great CPA.  It doesn't matter if you are investing or buying your own home, an experienced CPA will be able to help you keep your finances in order and looking good for the real estate financing process.

Whether you're looking to buy your first home, next home or investment property, my team and I can help you with that.  If you don't have a good mortgage lender or CPA, I can also refer you to my list of qualified vendors that I know and trust.  In the end, my team is here to serve you and make sure that your needs are met and far exceeded.  Give me a call today to chat more about your specific situation.

Welcome to My Video Blog!

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Welcome! As an experienced realtor in Northern Idaho, I have gathered a vast amount of knowledge about the ins and outs of the real estate market. And I'm sharing all of my tips and tricks with you! These include short sales, 1031s, interest rates and many, many more.

I am making two videos a month that will be posted here on my blog. My videos will be purely educational, and are designed to help you in all of your real estate happenings. I am not here to sell my service, but simply bring to light topics and trends that may play a major role in the buying and selling of homes.

Please leave a comment, or e-mail me with questions you may have about real estate, and I'd be happy to make a video just for you about your question.

Enter your e-mail address in the top center of this page, and I'll send my videos directly to your inbox!