Mortgage rates have fallen
$8,000 tax credit for first time buyers (couple)
More than 4,000,000 house on sale nationwide
Benefits of Home owner ship
Building personal wealth
Real sudden increase in buying power
NAR 2008 Survey is out
First time homebuyers are dominating the real estate purchase market! In the
South, it's 39% and in the Northeast, a whopping 46%. The national average is 41%.
Define Your Need
Make an offer
Prepare for Closing
Affordablequot; home price followed the guidelines of most
Total debt-to-income ratio
no more than 36 percent.
Housing payment-to-income ratio of 28% (conservative
33 percent (aggressive estimate)
Consider your savings needs, including retirement and
Actively shop and negotiate or
passively browse houses
If you find the right house at the right price,
Buy a home that can grow with you if necessary
Put the technology to good use
comparative market analyzes
Why hire a Realtor or real estate
What do you get in return for paying a $10,000+
Assume that a home seller:
1) Knows the value of their home and the
comps on the market,
2) Can list their home on the MLS for $400,
3) Can hire a real estate attorney to prepare
the necessary paperwork and attend the
closing for a flat fee of $500, and
4) Is available to show his/her home with
Knowing the value of your home is only part of the equation, you also need to know where to price it to have it
sell quickly (if that is your intention). The Realtor has access to all the sales, market time and how long they
were on the market so we can determine an quot;absorption ratequot;.
You are getting a have a full time advertiser
Listing your home on the MLS is only exposing it to other Realtors so you have to agree to pay them a
commission to bring you the buyer. You are not getting out of paying a commission if they do bring you the
buyer. And then you are dealing with a buyers agent with out the assistance of a selling agent to represent your
Real Estate attorney could charge much more than a $500 fee
Time is essence!
Being available to show your home with a quot;reasonable noticequot; actually will limit the amount of showings the
Most people are in looking in Real time and sometimes are not very considerate with the time line. However
when it is on lock box and can be show with a Realtor any time you will likely have more showings.
The more showings.. the more opportunity to sell!
The National Association of Realtors has determined that on average homes sold For Sale by Owner sell for less
than those listed with a Realtor (10-15%)
-seller does not price their home correctly
-buyers feel that a seller that is avoiding paying Real Estate commission should take the difference off the price.
Most people like going through realtors to find houses, so you would have access to a bigger list of potential
buyers. They also have an interest to sell your house, and make sure the closing goes smoothly, since they don't
get paid unless it does. You also get the experience they have of working in that market.
Are you comfortable to meet strangers and show your house?
Showing your home is much safer through trained professionals
Prepare Get the
an offer to sell
Prepare Close the
to close deal
1. Best product and best possible price
Successful home sale begins before the house listed on the market
2. Scope out other houses for sale.
3. Make it a turnkey, not a turkey.
Take away all their opportunities (from the buyer) to say no
Hire a home inspector –know it and fix it
Paying discount point to lower interest rate
Paying closing cost
Flexible with moving date
Bonus for buyer ‘s agent