Redfin’s Home Buying Class      May 17, 2012 Chandler, AZ      Follow: @RedfinPhoenix      Like: http://www.facebook.com/R...
Agenda     ●   To buy or not to buy     ●   Home buying process     ●   Choosing your team     ●   Get prequalified     ● ...
A Little Bit About Who We Are  Redfin is a real estate brokerage that has helped over 20,000  people buy or sell a home; 9...
To Buy or Not to BuySlide 4 of 62
Why You Should Buy a Home ●   You have a family and need room to grow ●   You expect to stay put for 5 or more years ●   Y...
Why You Shouldn’t Buy a Home  ●   You don’t have a good reason like family or schools  ●   You can’t afford the down payme...
Overview of a Purchase                 •Search homes online & tour                 •Get pre-approved                 •Find...
Redfin as a Tool in Your SearchSlide 8 of 62
Benefits of a MLS Powered Site      ● All the homes for sale: 30% more listings      ● You see what the agent sees: 4x the...
Highlights of Redfin’s Site  ●   Search by zip code or neighborhood  ●   Saved searches/instant alerts  ●   Agent notes  ●...
Finding the Right Team     - Realtors and LendersSlide 11 of 62
What to Ask Any Agent  ●   Is this your full-time job?  ●   Familiar with foreclosures or short-sales?  ●   Where were you...
Make Sure He’s a Good Fit                                 Click here                                 when you             ...
Partners in the Process                                          AGENT                                          Responsibl...
Redfin’s Partner ProgramPartner agents are employed by other brokerages, but  have teamed up with us to provide Redfin-Cer...
Open Book  ● Redfin Certified Providers  ● Every professional is reviewed and all reviews are shown  ● Search for local:  ...
Are you a Good Buyer?Slide 17 of 62
What Agents Look For in a Buyer  ● Sense of urgency (need to buy)  ● Realistic about     ► the market     ► what they want...
Need to Know About Agents  ● Agents work for free until a deal closes  ● Only about 10% of home buyers will buy a home    ...
Creating a Solid Relationship  ● Start by clearly communicating     ► Your expectations of your Realtor     ► Your work sc...
MortgagesSlide 21 of 62
Lending: Go Local! Go Personal!● Interview your LO and find out how they can help you  in a competitive situation● Establi...
Review Your Financial Situation  To Buy or Not to Buy  ● Pull credit report, look for errors  ● Establish comfort level fo...
Getting Pre-Approved  A pre-approval letter is a letter from a bank or a lender estimating  how much theyll lend you… we n...
Start Shopping for Lenders  Compile a list of 3-4 lenders & brokers  Good sources include:  ● Redfins partner lenders  ● R...
Types of Loans  ● Conventional:     ► As low as 5% down     ► Fixed or adjustable rates, conforming or non-conforming  ● F...
Comparing Loan Estimates     ● Gather loan estimates           ► A minimum of three, more is better           ► These aren...
Where Are Rates Headed?Slide 28 of 62
Make Your Decision     ● When possible, get a loan commitment     ● Make alternative funds liquid (401k, stock)     Good n...
TouringSlide 30 of 62
How to approach a tour    ●      Goal 1: Determine if the   ●       Goal 2: Identify any potential           home fits you...
Making the Most of Your Tour    1.     Bring a camera, notebook &      8.  Check for hardwood floors           tape measur...
Market ConditionsSlide 33 of 62
-                              10,000                                       20,000                                        ...
Number of Active Listings                  Single Family Dwellings50,000                                                  ...
Homes for Sale by Listing Type                           Short Sales                               11%        Traditional ...
Inventory – Single Family Homes                                             Sold     Pending                  Active Pendi...
$-                                $20                                                                       $40           ...
Final Sale to List %                         By Listing Type104%                 Homes are selling for102%               a...
Case-Shiller – By the Numbers  Case-Shiller: Phoenix Area    Up 3.3% year-over-year    Peak was June 2006    Down 54.2% fr...
Chandler April Stats for HomesSlide 41 of 62
Chandler April Stats for HomesSlide 42 of 62
National Market Trends ● Multiple Offers    ► 74% of offers in OC faced competition in March, 51% in      DC    ► Offers i...
Short-Sales & Bank OwnedSlide 44 of 62
What is a Short Sale?  The owner owes more on the mortgage than the home is  worth  ● Usually pre-foreclosure, but not alw...
Short Sales  ● Pros                          ● Cons        ► Significant Savings       ► Approval time 3-6        ► Not as...
What is a Bank-Owned Property?  ● A foreclosed home owned by a bank or lender  ● Standard sale but:     ► Verbal negotiati...
Bank Owned (REOs)  ● Pros                        ● Cons        ► Significant savings     ► Verbal negotiations        ► De...
Writing the Offer   and dealing with multiple offersSlide 49 of 62
9 Steps to Being Competitive     1.     Pricing     2.     Lending and Preapprovals     3.     Earnest Money Deposit     4...
Pricing is Important…But Not  Everything!     • When is it appropriate to offer list or above?       • < 14 days on the ma...
Who is the Competition?  ● The Competition     ► Fellow home buyers     ► Casual investors     ► Professional investors   ...
Understanding the Process after   Contract AcceptanceSlide 53 of 62
Sequence of a Purchase  ● Your agent:     ► Researches seller & listing agent     ► Prepares a comparative market analysis...
Closing: The Title Company  ● The Title Company:     ► Prepares the final documents, including the HUD-1     ► Conducts th...
Closing: Title Insurance  ● Title insurance guarantees that the property is clear and    marketable  ● 2 types of title in...
Closing: What you need to know  ● What to bring:     ► Government issued photo ID     ► Certified check  ● Closing typical...
Closing: HUD–1 Settlement  HUD-1 Settlement Statement – Lists all fees/charges/credits  ● Lender charges     ► Includes or...
Sample HUD    ● A form that your lender is      required to provide to you one      day before closing. It lists the      ...
So What Now?  ●   Make sure it’s the right time for you  ●   Start browsing online  ●   Check out our Home Buying Guide an...
Thanks for Coming!  Please fill out the survey that was handed out at the beginning     of  class. We appreciate the feedb...
AppendixSlide 62 of 62
Appendix  ● Important forms/contracts  ● Favorite Real Estate ResourcesSlide 63 of 62
Some Of Our Favorite Sites  ●   Seattle Bubble: market analysis  ●   Curbed Seattle: cool houses  ●   Urbnlivn: for condo ...
HUD Settlement Statement
Favorite Real Estate Links● Property information   ► PropertyShark: Zoning data, title     history, permits, neighborhood ...
Favorite Homes For Sale Links ● Redfin: MLS + FSBO + REO, updated every 15   minutes, with DOM, price history, Zestimate ●...
Favorite Data Links ● Case-Schiller Indices: Pricing trends by metropolitan   area ● Altos Research: Median price trends a...
Favorite Mortgage Links ● Bankrate: Many ads, but is great for comparing local   lenders ● Zillows Mortgage Marketplace He...
Favorite Links● Loans for first-time home buyers   ► Federal Housing Administration (FHA)   ► Fannie Mae and Freddy Mac● G...
Favorite Links Cont.● Remodeling & renovations   ► DoItYourself.com: A few ads, but a useful clearinghouse     of informat...
Upcoming SlideShare
Loading in...5
×

Phoenix hbc 5.17.12 final

244

Published on

Published in: Business, Real Estate
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
244
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Doug: Courtney and I update this slide to reflect the agent who is presenting and their team.
  • Chart:http://www.mortgagenewsdaily.com/mortgage_rates/charts.aspPrediction:http://www.bankrate.com/finance/mortgages/mortgage-rate-trend-index.aspx
  • Lender owned sales make up 53% of the sales each month, however only 21% of the homes for sale are lender owned. Indicates a very fast market for lender owned homes.
  • This graphs shows the very consistent pricing between the different types of homes.
  • The 95% rule, a home listed at a price that will attract an offer will almost always sell within 95% of the final list priceAlso, banks aren’t desperate to sell their listings and they won’t drop the price more than a traditional sale or a short sale
  • Phoenix hbc 5.17.12 final

    1. 1. Redfin’s Home Buying Class May 17, 2012 Chandler, AZ Follow: @RedfinPhoenix Like: http://www.facebook.com/RedfinPhoenixSlide 1 of 62
    2. 2. Agenda ● To buy or not to buy ● Home buying process ● Choosing your team ● Get prequalified ● Touring homes ● Market conditions ● Short sales & foreclosures ● Writing the offer ● Multiple offers ● The offer processSlide 2 of 62
    3. 3. A Little Bit About Who We Are Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. ● Customers, not commissions ● Informed decisions ● The right home for the right price  No obligation  Get back a portion of our commission  Redfin VideoSlide 3 of 62
    4. 4. To Buy or Not to BuySlide 4 of 62
    5. 5. Why You Should Buy a Home ● You have a family and need room to grow ● You expect to stay put for 5 or more years ● You want a home that is difficult to rent ● You’re handy & and ready to invest ● You’ve saved up a down paymentSlide 5 of 62
    6. 6. Why You Shouldn’t Buy a Home ● You don’t have a good reason like family or schools ● You can’t afford the down payment ● You can rent for much less ● You plan on moving soon ● You’re worried about job securitySlide 6 of 62
    7. 7. Overview of a Purchase •Search homes online & tour •Get pre-approved •Find a dream home Finding •Consult with agent, write offer Your Home •Submit offer to listing agent •Negotiations •Success! •Earnest money (within 24hours) •Inspection contingency (10 days) Mutual •Title review Acceptance •Financing contingency (20-25 days) •Waiting for loan approval •Escrow signing appointment •Get keys and take possession! Closing! •Receive Redfin refund •Complete Redfin SurveySlide 7 of 62
    8. 8. Redfin as a Tool in Your SearchSlide 8 of 62
    9. 9. Benefits of a MLS Powered Site ● All the homes for sale: 30% more listings ● You see what the agent sees: 4x the data ● Real-time market data: photos, details of just-sold homesSlide 9 of 62
    10. 10. Highlights of Redfin’s Site ● Search by zip code or neighborhood ● Saved searches/instant alerts ● Agent notes ● Download results ● Price your home ● Agent scouting report ● Forums ● Home buying guide ● Home inspection guideSlide 10 of 62
    11. 11. Finding the Right Team - Realtors and LendersSlide 11 of 62
    12. 12. What to Ask Any Agent ● Is this your full-time job? ● Familiar with foreclosures or short-sales? ● Where were your last five deals? ● Who else will be working with me? ● Will you show me all properties for sale? ● When am I committed to working with you? ● Has a client ever filed a complaint? ● How are you paid?Slide 12 of 62
    13. 13. Make Sure He’s a Good Fit Click here when you decide See all deals & reviewsSlide 13 of 62
    14. 14. Partners in the Process AGENT Responsible for your success Writes your offer Handles negotiations YOU FIELD AGENT COORDINATOR Takes you to see homes Schedules tours See 50+ homes a week Prepares paperwork Works with escrowSlide 14 of 62
    15. 15. Redfin’s Partner ProgramPartner agents are employed by other brokerages, but have teamed up with us to provide Redfin-Certified service to a wider range of customers.We’ll refer you to a partner agent when: ► A home is outside of our direct service area ► A home is below our price minimum ► We’re experiencing an unusually high customer demandWe survey all partner agent clients ► All surveys are published on their Redfin page ► 97% of customers would recommend Redfin partnersSlide 15 of 62
    16. 16. Open Book ● Redfin Certified Providers ● Every professional is reviewed and all reviews are shown ● Search for local: ► Inspectors ► Lenders ► Title CompaniesSlide 16 of 62
    17. 17. Are you a Good Buyer?Slide 17 of 62
    18. 18. What Agents Look For in a Buyer ● Sense of urgency (need to buy) ● Realistic about ► the market ► what they want in a home ► the buying process ● Respectful of the agent’s time and schedule ● See’s the agent as a trusted advisor ● Good communication skills ● Fully prequalifiedSlide 18 of 62
    19. 19. Need to Know About Agents ● Agents work for free until a deal closes ● Only about 10% of home buyers will buy a home ► That’s a lot of time worked for no pay ● This is a 24/7 job ► But we still need personal time and family time ● This is a career/job that is constantly changing ● Agents often become life long friends with their clientsSlide 19 of 62
    20. 20. Creating a Solid Relationship ● Start by clearly communicating ► Your expectations of your Realtor ► Your work schedule ► Preferred communication method ► Motivations for  buying a home  and timeline (doesn’t have to be immediate)Slide 20 of 62
    21. 21. MortgagesSlide 21 of 62
    22. 22. Lending: Go Local! Go Personal!● Interview your LO and find out how they can help you in a competitive situation● Establish a relationship with a loan officer (LO)● Get (1) preapproval for your max ► Customize later● Local banks are always better● Avoid credit unions, brokers and bigger banks where your LO is not available 7 days each week● In a competitive situation its good to find a locally known lender ► It can be the difference between winning and losingSlide 22 of 62
    23. 23. Review Your Financial Situation To Buy or Not to Buy ● Pull credit report, look for errors ● Establish comfort level for monthly payment ● Figure out how much monthly income goes towards debt: 28 – 33% healthy ● Pay down credit balances to 1/3rd ● Don’t open any new lines of credit ● Don’t buy any big ticket items ● Source of money ● Current employment statusSlide 23 of 62
    24. 24. Getting Pre-Approved A pre-approval letter is a letter from a bank or a lender estimating how much theyll lend you… we need a PQF! ● Establishes what you can afford & makes offer process go faster ● Good for 90 days, depending on lender ● Ask for a few different amounts ● Similar, yet different from pre-qualification ● Redfin asks that you get pre-approved before your third tour ● Are gift funds involved? ● How much do you have for a down payment? Information needed: ● W-2, two pay-stubs, tax returns, bank statementsSlide 24 of 62
    25. 25. Start Shopping for Lenders Compile a list of 3-4 lenders & brokers Good sources include: ● Redfins partner lenders ● Referrals from friends, family & co-workers ● Your real estate agent ● Online review sites, such as Yelp ● Local chains and offices *Know your lenderSlide 25 of 62
    26. 26. Types of Loans ● Conventional: ► As low as 5% down ► Fixed or adjustable rates, conforming or non-conforming ● Federal Housing Administration Loan (FHA): ► Always have mortgage insurance ► Buyers need only a 3.5% down payment ● VA Guaranteed Loan: ► Veterans, active duty personnel, reservists/national guard, surviving spouses ► No down payment ● Ask your lender if they have special loan programs ► Example: BB&T Chips ProgramSlide 26 of 62
    27. 27. Comparing Loan Estimates ● Gather loan estimates ► A minimum of three, more is better ► These aren’t final numbers, but within a few thousand dollars ► Compare similar loans  Program (FHA, conventional)  Timeframe (same day) ● Compare costs side-by-side ► Discount & origination points ► Interest rates ► Insurance premiums (FHA, PMI) ► APR (interest rates + fees + points + PMI)Slide 27 of 62
    28. 28. Where Are Rates Headed?Slide 28 of 62
    29. 29. Make Your Decision ● When possible, get a loan commitment ● Make alternative funds liquid (401k, stock) Good news! Loan payments are made in arrears, so your first loan payment won’t be for two months.Slide 29 of 62
    30. 30. TouringSlide 30 of 62
    31. 31. How to approach a tour ● Goal 1: Determine if the ● Goal 2: Identify any potential home fits your needs inspection related items ► AC ► Pests (scorpions, termites) ► Water damage ► Deliberate damage ► Deferred damage ► Exposure issues ► Pool surfaceSlide 31 of 62
    32. 32. Making the Most of Your Tour 1. Bring a camera, notebook & 8. Check for hardwood floors tape measure 9. Peek into the attic 2. See how much sunlight the 10. Bring a marble or two place gets 11. Listen for road noise 3. Check ceilings for water 12. Ignore the appliances and damage carpets 4. Look for dry rot on the eaves 13. Check the closets 5. Flat roof or pitched? 14. Get the disclosure packet 6. Take stock of storage space 15. Compare the property’s tax 7. Turn off any music playing in records to the listing details houseSlide 32 of 62
    33. 33. Market ConditionsSlide 33 of 62
    34. 34. - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Jun-03 Sep-03Slide 34 of 62 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Number of Active Listings Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 # of Active Listings Dec-11 Mar-12
    35. 35. Number of Active Listings Single Family Dwellings50,000 # of Active Listings45,00040,000 Selection of Homes35,00030,00025,000 Competition20,00015,00010,000 5,000 -Slide 35 of 62
    36. 36. Homes for Sale by Listing Type Short Sales 11% Traditional 14% Short Sales 21% Lender Owned 13% Last Year This Year Traditional 76% Lender Owned 65%Slide 36 of 62
    37. 37. Inventory – Single Family Homes Sold Pending Active Pending Solds Inventory Inventory REO 851 1,499 1,306 0.65 1.15 Traditional 6,273 3,769 3,267 1.92 1.15 Not all these homes will sell Short Sales 896 11,281 2,001 0.45 5.64Slide 37 of 62
    38. 38. $- $20 $40 $60 $80 $100 $120 Jan-10Slide 38 of 62 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 By Listing Type May-11 Jun-11 Jul-11 Aug-11 Avg $/sqft for 3 Bedroom Homes Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Short Sale Traditional Feb-12 Lender Owned Mar-12
    39. 39. Final Sale to List % By Listing Type104% Homes are selling for102% above list price100%98%96%94%92% Traditional Lender Owned Short Sale90%88%Slide 39 of 62
    40. 40. Case-Shiller – By the Numbers Case-Shiller: Phoenix Area Up 3.3% year-over-year Peak was June 2006 Down 54.2% from peak Currently at July 2000 prices Case-Shiller: 20-City Composite Down 4.5% year-over-year Peak was July 2006 Down 35% from peak Currently at November 2002 pricesSlide 40 of 62
    41. 41. Chandler April Stats for HomesSlide 41 of 62
    42. 42. Chandler April Stats for HomesSlide 42 of 62
    43. 43. National Market Trends ● Multiple Offers ► 74% of offers in OC faced competition in March, 51% in DC ► Offers increased 50% nationwide but closings only increased by 17% ► Competition is up for getting offers accepted ● Tale of 2 markets ► Prices are mostly soft for condos and townhomes ► Entry level and mid range houses are selling like hotcakes ● Nationally, prices are down 3.8% ● Number of homes for sale is down 27% from March last yearSlide 43 of 62
    44. 44. Short-Sales & Bank OwnedSlide 44 of 62
    45. 45. What is a Short Sale? The owner owes more on the mortgage than the home is worth ● Usually pre-foreclosure, but not always ● Listed for less than what’s owed to the bank ● Requires 1 - 2 banks’ approval (usually 2) ● May have other liens (taxes, utilities, HOA)Slide 45 of 62
    46. 46. Short Sales ● Pros ● Cons ► Significant Savings ► Approval time 3-6 ► Not as much months competition ► Instant foreclosure ► Fewer bidding wars ► Seller’s aren’t vested in ► Large pending maintaining the home inventory ► Listing agents won’t ► Not everyone can deal communicate with them ► Banks ask too much of home buyers ► Very stressfulSlide 46 of 62
    47. 47. What is a Bank-Owned Property? ● A foreclosed home owned by a bank or lender ● Standard sale but: ► Verbal negotiations ► Long response times ► Repairs unlikely ► Legal addenda may require an attorney ► Limited or no disclosures ► Banks demand use of their own contracts ► Bank can back out any time until they’ve signedSlide 47 of 62
    48. 48. Bank Owned (REOs) ● Pros ● Cons ► Significant savings ► Verbal negotiations ► Decent shape ► Bank contracts ► Quick closing ► Bidding wars ► Might do repairs ► Cold attitude ► Listing agents play games (?)Slide 48 of 62
    49. 49. Writing the Offer and dealing with multiple offersSlide 49 of 62
    50. 50. 9 Steps to Being Competitive 1. Pricing 2. Lending and Preapprovals 3. Earnest Money Deposit 4. Closing Date 5. Escalation Clause…Maybe 6. Inspections and As-Is Addendums 7. Financing and Appraisal Contingencies 8. Sympathy letters 9. Cash is KING! (or not)Slide 50 of 62
    51. 51. Pricing is Important…But Not Everything! • When is it appropriate to offer list or above? • < 14 days on the market • Multiple offers • Want to lock it down before multiple offers occur • When is it appropriate to offer below list? • >30 days on the market • Comps support itSlide 51 of 62
    52. 52. Who is the Competition? ● The Competition ► Fellow home buyers ► Casual investors ► Professional investors ► Portfolio companies ► Flippers ► Inside deals ● What you need to keep in mind ► Mass offers strategies ► Have they seen the property? ► What are their intentions and strategiesSlide 52 of 62
    53. 53. Understanding the Process after Contract AcceptanceSlide 53 of 62
    54. 54. Sequence of a Purchase ● Your agent: ► Researches seller & listing agent ► Prepares a comparative market analysis and discusses ► Writes up your offer ► Submits offer ► Negotiates on your behalf ● Mutual Acceptance ► Earnest money (within 3 days) ► Inspection contingency (5-10 days) ► Title review ► Financing contingency (20-25 days) ► Appraisal ► Waiting for loan approval ► ClosingSlide 54 of 62
    55. 55. Closing: The Title Company ● The Title Company: ► Prepares the final documents, including the HUD-1 ► Conducts the closing ► Examines and clears the title to the property ► Records the deed, mortgage and any other recordable instruments ► Issues title insurance to the lender and the buyerSlide 55 of 62
    56. 56. Closing: Title Insurance ● Title insurance guarantees that the property is clear and marketable ● 2 types of title insurance policies ► Limited (Standard)  Protection against pre-closing defects in title ► Enhanced (Eagle)  Costs 20% more than Standard policy  Covers post closing fraud, forgery, identity theft  Increases with value of the property up to 150% of original price  Includes coverage for: mechanic’s liens, invalid permits, forced removal of structure, unrecorded easements, unrecorded leases,Slide 56 of 62
    57. 57. Closing: What you need to know ● What to bring: ► Government issued photo ID ► Certified check ● Closing typically takes 1 hour ● Shop for title fees ● Get keys and take possession! ● Receive Redfin refund ● Complete Redfin SurveySlide 57 of 62
    58. 58. Closing: HUD–1 Settlement HUD-1 Settlement Statement – Lists all fees/charges/credits ● Lender charges ► Includes origination fee, appraisal fee, credit report, insurance and tax escrows ● Title charges ► Includes settlement fee, and owner’s and lender’s title insurance ● Government charges ► Includes recording fees, recordation taxes and property taxesSlide 58 of 62
    59. 59. Sample HUD ● A form that your lender is required to provide to you one day before closing. It lists the final closing costs and fees for your loan. ● By law, the final costs listed on your HUD-1 must be within 10% of the estimates provided on your Good Faith Estimate (GFE).Slide 59 of 62
    60. 60. So What Now? ● Make sure it’s the right time for you ● Start browsing online ● Check out our Home Buying Guide and Events page ● Find the right agent ● Get pre-approved & look for a lender ● Start seeing homes ● Make an offer & close the dealSlide 60 of 62
    61. 61. Thanks for Coming! Please fill out the survey that was handed out at the beginning of class. We appreciate the feedback! Check out our upcoming classes and events at http://www.redfin.com/buy-a-home/classes-and-eventsSlide 61 of 62
    62. 62. AppendixSlide 62 of 62
    63. 63. Appendix ● Important forms/contracts ● Favorite Real Estate ResourcesSlide 63 of 62
    64. 64. Some Of Our Favorite Sites ● Seattle Bubble: market analysis ● Curbed Seattle: cool houses ● Urbnlivn: for condo shoppers ● WalkScore: see what’s nearbySlide 64 of 62
    65. 65. HUD Settlement Statement
    66. 66. Favorite Real Estate Links● Property information ► PropertyShark: Zoning data, title history, permits, neighborhood data; navigation is clunky● Neighborhood information ► WalkScore: Proximity to points of interest ► Trulia Heat Maps: Median prices across a county
    67. 67. Favorite Homes For Sale Links ● Redfin: MLS + FSBO + REO, updated every 15 minutes, with DOM, price history, Zestimate ● craigslist: Major FSBO source that Redfin doesn’t have ● HotPads: Foreclosure heat maps ● RealtyTrac: Foreclosure market detail, subscription required for full reports ● Brokerage site of listing agents: more photos of the listing
    68. 68. Favorite Data Links ● Case-Schiller Indices: Pricing trends by metropolitan area ● Altos Research: Median price trends and days on market by city, but some complain data is unreliable ● MSN Home Affordability Calculator: Based on your income & credit score ● SmartMoneys Home Buying Worksheet: Similar to the MSN calculator, but requires more info
    69. 69. Favorite Mortgage Links ● Bankrate: Many ads, but is great for comparing local lenders ● Zillows Mortgage Marketplace Help Center: Articles mortgage rates, types of mortgages, credit reports, and a series of mortgage calculators ● The Mortgage Professor: Bare bones information on mortgages, definitions of common terms, myriad of mortgage calculators ● HUD FHA page: Most reliable explanation of FHA loans, good site for first-time buyers
    70. 70. Favorite Links● Loans for first-time home buyers ► Federal Housing Administration (FHA) ► Fannie Mae and Freddy Mac● Government sites ► Federal Trade Commission: Articles & alerts for home- buyers. ► Dept. of Justice: Role of competition in real estate
    71. 71. Favorite Links Cont.● Remodeling & renovations ► DoItYourself.com: A few ads, but a useful clearinghouse of information on remodeling ► National Association of Home Builders (NAHB): Articles on remodeling your home, most are good
    1. A particular slide catching your eye?

      Clipping is a handy way to collect important slides you want to go back to later.

    ×