For Buyers

Market conditions have never been better for buyers, but finding the right property, negotiating the best deal, and managing all the details are as complicated as ever. Whether you’re a first-time buyer, a current homeowner, or a real estate investor, you need a trustworthy, knowledgable real estate professional to help you through the home buying process. You need an Executive.

Executives Versus Agents

A real estate Executive is more than an agent. An Executive is a trusted source of local information, familiar with every block of every neighborhood, and able to help you understand how and where you’d fit best. An Executive understands local market conditions, so you can make a conservative but fair offer that will get you in the right home at the right price. Above all, an Executive is a professional, with years of experience negotiating deals and managing legal and regulatory red tape. When you’re dealing with an Executive, you can relax and focus on finding the perfect home, knowing you’re in good hands.

The Perfect Home

A home is more than a number of bathrooms and bedrooms. While amenities set baselines and standards for your search, an ideal home is one that meets your needs for things that can’t be measured in bedrooms, bathrooms, and square footage. Style, safety, history, neighborhood character, local schools, cultural resources, and how much you can reasonably afford are just a few of the factors your Executive will consider during your home search. A perfect home should stir your emotions, and an Executive will help you find the home that does just that–without letting emotions get in the way of your negotiations.

Negotiations and Financing

An Executive is an expert negotiator who knows where to start an offer, how far to push, and when to walk away. Executives can also help you understand the “hidden” costs and fees associated with the home buying process to ensure that you don’t get in over your head. Once your offer is accepted, an Executive will walk you through inspections and other contingencies, closing, underwriting, and escrow, so you can move into your new home without any worries.

I’ve included some relevant blog posts and links for your review. If you would like more information on how an Executive can help you find you dream home, please contact me.

Other Links:

Comments are closed.

First Time Home Buyers… Take The Stress Out of Buying Your First home!

Posted on December 29, 2011 by Michael Tezak

With historically low interest rates and an excessive inventory of homes in Northwest Indiana, NOW IS THE TIME TO BUY! But even under the best of circumstances, buying a home can be a stressful experience. It can be a roller coaster of emotions… finding the right place… securing the loan… moving in.

Chances are your home will be your largest investment and emotions over such a large and personal purchase can often cloud good business decisions.

If you follow these 10 suggestions, and with the help of the right real estate agent, you’ll make a good business decision that you should be happy and proud of for years to come.

1.Align Yourself With a Knowledgeable Real Estate Agent- By aligning yourself with the right real estate agent, you’ll have an entire team working for you. your first home is one of the most important business decisions you will make and  it should not be trusted to someone that”dabbles” in the market.  Remember to have an agent to represent you doesn’t cost the buyer anything. Top real estate agents have lenders, title companies, inspectors, and processors – an entire group of trained people to make the whole buying experience simple and easy for you.

2.  Location, Location, Location-Remember you are buying a neighborhood not just a home. Pick something you want to grow into. Make sure the area is somewhere you will want to be in several years to come. If you are planning on having kids, consider schools. If you dont like to travel, consider a location that is in close proximity to stores, doctors and entertainment. Statistics show in Northwest Indiana first time home buyers stay in their homes 41/2 to 5 years on average. Your real estate agent can help you project what an ideal  resale scenario will be for your home.

3. Don’t Overextend Yourself- Sit down with your real estate agent and honestly discuss your income level and living expenses. Take into account future considerations like: children, add-ons, amenities or fix-ups. Your dream home is certainly worth a sacrifice but don’t mortgage your entire future. When you find the perfect house that costs a little more than you can really afford, it’s easy to think that you will just suck it up and find the money. Reality is often far less kind.

4. Imagine the Property Vacant- Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture.. or decor… it leaves with the owner. Don’t worry about that bright purple paint on the wall, it can easily be changed.

5. View Several Homes- See at least 3-5 properties. Don’t move on the first property you see but… don’t move too slowly either. With your agent’s help, you’ll be able to view enough (but not too many)  properties to get a good overall perspective of the market.

6. Inspect, Inspect and Inspect- Never waive the inspection and pay close attention to the inspection period deadline. Pick your own insector or one recommended by your agent. Go over the inspection report carefully. Make sure the report was done by a respected professional. make sure you read over home owner association covenants and restrictions, for  condo purchases, go over the by-laws, and association fees. Don’t take anything for granted… inspect everything!

7. Do All Your Research-Check out all your costs and expenses before you sign: utilities, taxes, insurance, maintenance and homeowner dues, if applicable. Make sure all utilities are on (gas, electricity, and water), so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

8. Do a Final Walk-Through- Visit the property after all the furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Many times, things are unintentionally overlooked that could have been spotted in a final walk-through.

9. Plan For Flexibility- With today’s “tighter” lending practices, closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. remember it will all be closed and over with soon and you will be able to enjoy your new home.

10. Get It In Writing- All promises and discussions are to be in writing. Don’t make any assumptions or believe anything not in writing. If you have a questions about something as simple as a fixture or curtain rod or specific decoration,,, put it in writing. Even the best intentions can be misinterpreted. Have your real estate agent  get the seller’s written approval for all agreements.

10. Ask Questions- DO NOT avoid asking questions. If there is anything you don’t understand or feel uncomfortable with ASK, ASK, ASK!  You may have a  fear of looking stupid or immature, this can drive many first-time home buyers into making really poor decisions.

If you have done your research and aligned yourself with a top real estate professional the process of first time home buying should go from stressful to exciting.

Posted in Area Info, For Buyers, Uncategorized | Tagged , , , , , , | 2 Comments

Considerations for Today’s First-Time Buyers

Posted on September 21, 2011 by Michael Tezak

First-time buyers are naturally very nervous about entering the market. This was true during sky-high interest rates in the 1980s. It was true when the real estate market was booming in 2005. It is still true today.

Newbies to the market worry about the cost of buying, the process itself, and of course what it will mean for them to be a homeowner. Owning a home is typically the biggest financial responsibility a person will undertake. It starts with the cost of a downpayment and closing costs and continues with a monthly mortgage payment and annual maintenance and repairs.

Today’s market, however, brings new worries to the table. The economy is on the brink of a renewed recession. Fewer buyers can qualify for a home mortgage, especially since many lenders want at least 20 percent down. Plus, unemployment rates have remained consistently above 9 percent.

What do first-time buyers really need to know about today’s market? Here are some things to consider.

Interest rates are at historic lows, with 30-year fixed rates between 4 and 5 percent! This is incredible. Imagine the difference between an interest rate of 4 percent and one at 13 percent. For a $100,000 with 20 percent down, you’ll find a payment near $568 a month. For the exact same home at 13 percent you’ll see a monthly payment of just over $1,000.

Home prices fell after the bubble burst, leaving affordability rates at generational highs. This means there are great deals to be had. In addition, there are a large number of foreclosure and short sale properties available, sometimes at even more savings.

This means prices are low and interest rates keep them that way. You will still need a downpayment, however. This is now expected to be at least 20 percent of the total cost of the home.

It’s not all silver linings, though. Home values are still falling. It is of paramount importance that if you’re in the market to buy, you must research your own local market trends. Are home values plummeting? Are they holding steady? Many times the housing market is directly linked to the health of the jobs market. What is the state of employment in your community?

There are reasons to buy other than just making a sound financial investment. If you plan on remaining in your home for many years to come, then now is a good time to buy regardless of pricing fluctuations. The social benefits still remain strong and your home will be an investment over the long-term.

Be sure to think long and hard about the true cost of homeownership and if it’s right for you. This is not a time to get into a financial situation you can’t handle. Is your job steady? Do you have an emergency fund in addition to your downpayment amount?

Hiring a knowledgeable real estate professional can be an excellent first step on your way to finding the right home for you. They can help answer all of your questions about the process. There’s no reason to go into this process blindly. Let them guide you.

Buying a house is a big decision, but don’t let scary headlines deter you. There are great deals to be had in today’s market.

Published: September 21, 2011 by Realty Times.com, by Carla Hill

http://realtytimes.com/rtpages/20110921_buyers.htm#.TnoqLGdgt68.email

 

Posted in Area Info, For Buyers, Lifestyle and Community, News | Tagged , , , , , , , | 1 Comment

After the Inspection: Protect Yourself with Estimates and a Home Warranty

Posted on September 20, 2011 by Michael Tezak

Posted by Realty Executives

You found the perfect home, and your inspector has provided you with a list of necessary and optional fixes.  Now what do you do?

The first thing any homebuyer should do with an inspection report is get repair cost estimates from a professional contractor.  This might seem like a no-brainer, but it’s frequently overlooked by novice buyers.  If you’re a first-time buyer or otherwise new to home maintenance, this is absolutely essential.  What seems like a small job might be connected to something far bigger.  Even if you’re and experienced handyman planning on doing the repairs yourself, check with a pro.  The more you know about the fair-market cost of repairs, the more leverage you’ll have on price.

Once you’ve received your estimates and settled on a price with the seller, ask your REALTOR® about a home warranty.  Home warranties are optional, but they are generally available at a very low cost, and the seller may offer to pick up initial premiums as a sign of good faith.  For a few hundred dollars per year, a home warranty can protect tens of thousands of dollars of appliances, wiring, plumbing, heating, and other systems.  Be sure to read your policy in detail, since every insurer’s specific coverage differs.

Posted in Area Info, For Buyers, For Sellers, Home Finance | Tagged , , , , , , , , , | 2 Comments

Do You Really Need an Agent?

Posted on September 16, 2011 by Michael Tezak

Posted on September 15, 2011 by Realty Executives

It’s almost 2012.  Do you really still need a middleman in real estate?  You can find anything and contact anyone on the Internet.  What’s to stop you from finding a home online, going straight to the source, and saving yourself a few percent on the commission?

Nothing at all.  But before you decide to buy or sell a house without an agent, take this to heart:You’ll probably lose money on the deal.  A lot of it. Why?  For the same reason you don’t represent yourself in court, or fix your own transmission.  You’re not an expert.

There’s nothing shameful about that.  You should educate yourself as much as possible about your market (it’s your house, after all), but you don’t spend all day, every day working in the field.  You may have researched comparable homes in your area, but you don’t know what other buyers and sellers are thinking.  You don’t know what’s hot, what’s not, and what other opportunities might be steering prices up or down.

A real estate agent is a negotiator who knows the ins and outs of your market.  She knows what buttons to push, how to remain objective, and when to move on.  She’s also done this dozens of times before, and can guide you through legal and regulatory issues that could cost you tens of thousands of dollars.  If you’re dealing with a short sale, a foreclosure, a rental unit, or any other property with special guidelines attached, this guidance is critical.

You can certainly buy or sell your own home, but doing so will cost you time, money, and frustration you could save by handing the job to a pro–letting you focus on finding the perfect home.

 

Posted in Area Info, For Buyers, For Sellers, Lifestyle and Community | Tagged , , , , , , | 4 Comments
SEARCHING
Search Alert Coming Soon!
Advanced Search Coming Soon!

Open "More Options" automatically

Save my search results automatically

Display my search results

Number of searches to display