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Redfin Home

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Redfin Home

  1. 1. Home Buying Class Presented by: Katie Scire & Rebecca Love
  2. 2. Meet Katie & Rebecca Rebecca Love Redfin Agent ● 5 Redfin buyers & sellers ● 525K median home price ● 5 star rating (5 reviews) Katie Scire Redfin Agent ● 22 Redfin buyers & sellers ● $425K median home price ● 4.5 star rating (20 reviews)
  3. 3. About Redfin A better way to buy & sell On Your Side. Your Redfin Agent is paid based on your satisfaction, not commission so your interests always come first. Smarter & Faster. You’ll move quickly and confidently with our easy online tools and the most complete and accurate home sales data available. You Get More… Get full service and better results while saving thousands in fees. …Including 100% Team Support With Redfin, your home search is backed by a team of real estate pros, so there’s always someone available
  4. 4. Agenda 1. Local Real Estate Trends 2. Home Buying Process 3. Recap 4. Conclusion
  5. 5. #1. Local Real Estate Trends
  6. 6. Washington, DC Real Estate Overview Median List Price $395K Median List $/SqFt $466 Median Sale Price $437k Median Sale $/SqFt $501 Median Sale/List 99.7% Average Number of Offers 3.3 Average Down Payment 21.5% Number of Homes Sold 1599 Calculated using the last 90 days
  7. 7. Trending Right Now: Bidding Wars
  8. 8. Foreclosures & Short Sales
  9. 9. #2. Home Buying Process
  10. 10. Before You Buy ● Rent vs. own ● Length of ownership ● Life changes (family, job) ● Personal finances
  11. 11. Overview of the Home Buying Process 1. Research 2. Search for Homes 3. Finance Your Home 4. Make Your Offer 5. Closing Process
  12. 12. 1. Research • Home wish list & requirements • Location & neighborhoods • Mortgage loan & pre-approval • Real estate agents & reviews
  13. 13. 2. Search for Homes • Identify your home wish list & requirements • Check out open houses • Request home tours • Save searches on Redfin and get notifications on the mobile app & email
  14. 14. See Homes in Person 21
  15. 15. 3. Finance Your Home • Review your finances • Check your credit score • Find the right loan • Get pre-approved
  16. 16. Latest Mortgage Rates Type of Loan July 10, 2014 July 3, 2014 30-Year Fixed 4.14% 4.12% 15-Year Fixed 3.24% 3.22% 5/1 ARM 2.98% 2.98% 1-Year ARM 2.40% 2.38%
  17. 17. Break! ● Katie Scire katie.scire@redfin.com ● Rebecca Love rebecca.love@redfin.com
  18. 18. 4. Make Your Offer • Pricing & comparables • Common contingencies • Negotiations • Mutual Acceptance
  19. 19. 5. Closing Process • Inspection • Appraisal • Financing & approval • Title • Closing!
  20. 20. Home Inspection
  21. 21. The Closing Process Success! The seller has agreed with your price and terms. You’ve achieved mutual acceptance. Deposit your earnest money to prove you’re serious about the offer. The seller will disclose any known problems with the property The home’s ownership history and title for liens, encroachments, and easements is reviewed. Schedule a professional home inspection. Your agent will have recom- mendations. Select your lender and submit your loan within three days of mutual acceptance. Take your final walkthrough to look for any issues since the inspection. Sign all of the paperwork at your signing appointment. Get your keys, take possession and start moving! Receive your commission refund. Complete the Redfin survey for your agent.
  22. 22. Congratulations, You bought a home!
  23. 23. #3. Recap
  24. 24. Home Buying Timeline
  25. 25. #4. Conclusion
  26. 26. So, What Now? Make sure it’s the right time for you. Find an agent & get pre-approved for a loan Search for homes on Redfin.com & mobile app. See homes in person & make an offer. Buy a home!
  27. 27. Get More From Redfin • Explore our online tools, including a home affordability calculator to find out how much you can afford, and the home value tool to see how much a home is worth. • Take Redfin with you: Download the Redfin app for iPhone, iPad, and Android. • Claim your home on Redfin and receive monthly home reports. • Sell your home: Work with a Redfin Agent to sell your home and get free professional photography and online marketing to all the right buyers — for a 1.5% listing fee. • Check out more classes, including market trends, mortgages, home selling classes, and more at Redfin.com/Events.
  28. 28. Thanks For Coming!

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