Chicago North/Northwest Suburban Real Estate Blog

Allyson Hoffman

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SO -- Should I Invest Time & Money Into Preparing My Home for Sale?

 One question that has been surfacing with regularity relates to the benefit of preparing one's home for sale BEFORE putting it on the market.  It's great to think about this concept in advance of actually selling.  In today's market, the successful sellers are the ones who are offering the "most for the least."  Location continues to be an important criteria for success, enhancing demand and desirability.  But successful sellers are also those who have coupled extremely good pricing, extremely good condition & presentation, and superb marketing.  So addressing these concerns can be handled in a few ways. 

I could personally meet with you, look at your home and make recommendations or if you preferred to have a home stager (an accredited professional who is trained to assist homeowners in getting their homes in top showing condition), I can recommend someone to you.   This is a service that many Realtors provide to their prospective clients.  To arrange a time to meet with you or for a recommendation to a local home stager, please feel free to contact me by email or phone.  If you would simply like additional information about the home staging process, please feel free to visit:  http://www.homestagingresource.com/2007-04news.asp.

If you have been considering listing your home or are actively looking for a new home to purchase, you may notice a change at the front door!  A new lockbox system has been introduced to this area as of August 2008.  Homeowners and agents now will have a new secure electronic box to potentially use when selling their homes or showing those properties.  Introduced the first week of August, this box replaces the old gray Supra boxes that were so widely relied upon in this area for many, many years. 

This new box, SENTRILOCK, introduced to the brokerage community by the National Association of Realtors is spreading nationwide with the majority of Realtor Associations in the Chicago metro area selecting it as their first choice for secured electronic lockbox application, including the North Shore-Barrington Association of Realtor (www.NSBAR.org ).   Conversion to the new lockbox system which included turning in all old gray boxes was a successful event that took place during the first half of August and the new lockboxes are now showing up throughout the area.

As with the old boxes, to access these boxes, one must have an active keycard that is tied directly to them and identified by a key number with a password that is needed to make it work and provide security.  The keycards are the size of a credit card and expire each and every day, so that agents who wish to use them, must diligently update their cards daily.   One issue in the use of these boxes is that not all of the Realtor Associations have selected this box as their box of choice for the members, so those without a keycard in this area can actually also call in and receive a one-time code that can be used to obtain keys for access.  This assures that those using these boxes will be able to provide and monitor access by all agents, something that is not available to those using the newer generation of Supra boxes (the "blue" Supra boxes).    We are still seeing an abundance of our solid and trusty non-electronic boxes that do not record access such as the combination, pin push or other simple code-type boxes that have been commonly available for decades.

 

Allyson Hoffman, RE/MAX North

 

How to Look for the Most Affordable Mortgage

TODAY'S FEATURED PROPERTY

 

With lenders quoting a wide variety of interest rates and points, smart mortgage shoppers take a close look when comparing borrowing costs. Sometimes it turns out that the lowest interest rate isn’t necessarily the best buy. Here are some tips: Loupe

  • Compare borrowing costs.
  • Count the points.
  • The simplest way to compare borrowing costs is to ask the lender for the actual annual percentage rate (APR) – the true interest on the loan. The APR consists of the simple interest rate, plus all other charges imposed by the lender. It’s not at all unusual for the APR to be substantially higher than the rate quoted by the lender. What’s more, a simple rate quoted by one lender, although higher than another lender’s advertised simple interest rate, may turn out to have the lower APR. For the shopper who wants to take into account the cost of points (each point is equal to 1% of the loan amount), an simplified rule of thumb comes in handy: Each point is roughly equal to an interest rate increase of 1/8th of 1% over a payback period of 30 years. Thus, a lender offering a 10% rate with no extra points is offering a better deal than the lender offering, say, a loan at 9 7/8% plus two points. Which is best for you depends on how long you plan to live in the house.

Mortgage Workouts, Tax-Free for Many Homeowners

 There is now tax relief for struggling homeowners. If your mortgage debt is partly or entirely forgiven during 2007, 2008 or 2009 you may be able to claim special tax relief by filling out Form 982 and attaching it to your federal income tax return for that year.

Normally, debt forgiveness results in taxable income. But under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude from tax up to $2 million of debt forgiven on your principal residence. The limit is $1 million for a married person filing a separate return.

Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, may qualify for this relief. The debt must have been used to buy, build or substantially improve your principal residence and must have been secured by that residence. Debt used to refinance qualifying debt is also eligible for the exclusion, but only up to the amount of the old mortgage principal, just before the refinancing.

Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the new tax-relief provision. In some cases, however, other kinds of tax relief, based on insolvency, for example, may be available. See Form 982 for details.

If your debt is reduced or eliminated you will receive a year-end statement (Form 1099-C) from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property given up through foreclosure.

The IRS urges borrowers to check the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. You should pay particular attention to the amount of debt forgiven (Box 2) and the value listed for your home (Box 7).

For more information about the Mortgage Forgiveness Debt Relief Act of 2007, visit the IRS Web site at IRS.gov. A good resource is IRS Publication 4681, Canceled Debts, Foreclosures, Repossessions and Abandonments. This publication and Form 982 can be downloaded from IRS.gov or by calling 800-TAX-FORM (800-829-3676).

Remember that for the genuine IRS Web site be sure to use .gov. Don't be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.

This article is courtesy of the www.irs.gov.  Visit their website for more information.

Summer Tips for Your Home

TODAY'S FEATURED PROPERTY

It's that time of year when we have our air conditioners running and windows open to help make our homes a little bit more bearable during these warm summer months. As a result of trying to battle the extreme heat we tend to forget what we have heard, and learned about being energy efficient.

Here are a few summer tips for your home that will help keep you on track with an energy efficient plan.

For Outside

  • Longer days mean we don't need out outdoor lighting as much. Adjust your outdoor lighting timers accordingly and you'll save money and extend bulb life.
  • Try solar-powered outdoor lighting or garden lighting as an alternative. They are energy-efficient, inexpensive, safe and very easy to install.
  • Electric mowers are a recommended alternative to gas mowers as the electric models tend to pollute less and are much quieter.
  • For the same reasons as above, electric grass and hedge trimmers are a great alternative to gas powered models, although manual trimmers are a more commonly recommended alternative, by professional gardeners.
  • Using a broom to clean your driveway and walkways is just as effective as a gas powered leaf blower and is not harmful to the environment.

For Inside

  • There is really no need to have your gas fireplace's pilot light during the summer. Save energy, and money, by turning out the fireplace's pilot light until the fall. It is always a good idea to refer to the operating manual for your furnace to learn how to do this properly or  consult a technician. 
  • During hot days, it helps if you keep the windows closed and then reopen them in the evening when it cools off.
  • Blinds and draperies should also be closed on hot days to keep the inside temperature cooler and comfortable. 
  • Everyone knows that hot air rises and that makes your attic at hot spot in the home.making sure your attic has the proper insulation will protect your home from excessive heat penetration in summer and cold penetration in winter.  making sure your attic has the proper insulation will protect your home from excessive heat penetration in summer and cold penetration in winter. 
  • Floor and ceiling fans are a fabulous way to create gentle breezes throughout your home to keep your family cool and comfortable.

These are a few summer tips to keep your family comfortable in your homes, during this hot summer as well as a few energy saving and environmental alternatives.

Have a fabulous summer.


Wishing you and your families a Happy Fourth of July.

Everyone is gearing up to spend time with family and friends this holiday weekend so grab your flags and head to one of the many events being held this year in the North Shore Chicago Suburbs.

Below are events, activities and fireworks display times in Deerfield, Evanston, Glencoe, Glenview, Highland Park,  Northbrook, Northfield, Winnetka, and Skokie.

Deerfield

Deerfield Family Days
Date: Thursday, July 3 – Friday, July 4
Location: Thursday – Brickyards Park. Saturday – Jewett Park Community Center
Time: 5 p.m Thursday, 7:30 a.m. Friday

Activities:
Friday – Pancake Breakfast, Parade, Arts and Crafts Show, Rides, Games, Dog Show, Petting Zoo and Ponies!


Evanston

Fourth of July Parade & Fireworks
Date: Friday, July 4
Location: Central Street (Parade in Downtown Evanston), Clark Street Beach (Fireworks)
Time: Parade is at 2 p.m., Fireworks are at 9:15 p.m.


Glencoe

Date: Friday, July 4
Location: Glencoe Beach 
Time: Live music is at 7:15 p.m., Fireworks are at 9 p.m.
Cost: None (with admission to beach: Non-residents: $8/adult $6/kids, Residents: $6/adult $4/kids, Guests of residents: $4


Glenview

Fourth of July Parade & Fireworks
Date: Friday, July 4
Location: Parade starts on Glenview Rd., Fireworks are at Glenview Park Golf Club
Time: Parade is at 11:30 a.m., Fireworks are at 9 p.m.

Highland Park

Highland Park Kids Bike and Pet Parade
Location: Central Ave
Time: 9 a.m. - Kids & Pet Parade, 10 a.m. - Main Parade starts at Central Ave

Highland Park Fourth Fest
Location: Sunset Woods Park
Time: 11a.m. - 2 p.m.

Activities: picnic, carnival rides, petting zoo, carnival games, live music, snacks

Highland Park Float and Fireworks
Location: Hidden Creek Aquapark 
Time: 8:15 -10:45 p.m.
Cost: $5/person or Summer membership

Fireworks and Battle of the Bands Finale
Location: Wolters Field 
Time: Battle of The Bands kicks off at 6:30 p.m., Fireworks are at 9:15 p.m. 


Northbrook

Fourth of July Festivities & Fireworks
Date: Friday, July 4
Time: Pancake breakfast at 7 a.m. on the Village Green, Parade is at 2:30 p.m., Fireworks are at dusk
Location: Pancakes and Parade starts at the Village Green, Fireworks are at Ed Rudolph Velodrome, Meadowhill Park, Waukegan Rd. west on Maple Ave.

 

Northfield

Fourth of July Festival
Date: Friday, July 4
Location: Willow Park
Time: Bike Parade is at 10 a.m.

Activities
Sand art, face painting, Guitar Hero, climbing wall and inflatables open at 10:30 a.m.


Winnetka

Fourth of July Parade, Festival & Fireworks
Date: Friday, July 4
Location: Parade starts at Elm and Glendale Rds., Festival activities on the Village Green and Duke Child's Field, Fireworks are at Duke Child's Field
Time: Parade is at 10 a.m., Village Green activities at 11 a.m., Evening Festivities at 6:30 p.m. and Fireworks are at 9:15 p.m.

 

Skokie

Skokie Parade and Fireworks
Date: Friday, July 4
Location: The Parade is on Oakton St (begins at Lincoln Ave.), Fireworks are at Niles West High School
Time: Parade is at 12 p.m., Fireworks are at dusk, with festivities beginning at 7 p.m.

 

Have a happy and safe holiday weekend.

Top Insider Secrets to Preparing Your House For Showing

 Presentation is everything. Home buyers are attracted to clean, spacious and attractive houses. Your goal is to dazzle buyers. Brighten up the house and remove all clutter from counter tops, tables and rooms. Clean the house from top to bottom and make it sparkle. Simple aesthetic improvements such as trimming trees, planting flowers, fixing broken tiles, cleaning rugs and carpets and even repainting a faded room will greatly enhance the appeal of your house. Also make sure your house smells good. Clean out the cat box and light some mildly scented candles. Invite a trusted friend or neighbour to walk through your house as a buyer would, and get their opinion.

In preparing your private property for sale, consider:

• how much should I spend?

• exterior and curb appeal

• preparing the interior

How much should I spend?

In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren't likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive "polishes" and "touch-ups" to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen.

The simplest way to think about how much to spend is to divide your spending into two categories:

• What things, if left unchanged, are going to bring the price down by more than it costs to fix or change them?

• What new changes can I make that will definitely increase the price by more than I pay for them?

The first category tends to be all your 'touch-ups' - fresh coats of paint etc. The second category requires careful thought before you spend - new bathrooms or kitchens or carports. You need to be convinced that (a) you will definitely get a significantly higher price for this effort, and (b) that you don't decrease the pool of people who are potential buyers. (In other words, not everyone wants a pizza oven in the back yard, so your potential buyers pool is decreased.)

Focus on curb appeal

The age-old observation that "you never get a second chance to make a first impression" certainly applies when it comes to attracting buyers to a for-sale home. Estate agents understand the power of 'curb appeal;' that initial impression a buyer gets driving up outside your property.

Ever noticed how, after living in a house for a while, you become 'blind' to those niggling details that other people see? To maximize curb appeal, you need to see the exterior of your property with 'fresh eyes;' perhaps ask a good friend for their opinion.

Tips to enhance your home's exterior and curb appeal:

• Keep the lawn edged, cut and watered regularly. (Buy 'Bounce Back' from your local nursery to apply it to make your lawn greener.)

• Trim hedges, weed lawns and flowerbeds, and prune trees regularly. Cut back overgrowth on pathways.

• Consider planting a few lavender bushes around the outside of your garden gate.

• During spring and summer months consider adding a few showy annuals, perhaps in pots, near your front entrance. (Two large pots either side of an entrance always looks good.)

• Basic intercom systems are pretty cheap nowadays; consider installing one at your gate if appropriate.

• Store toys, bicycles, roller-skates, gardening equipment and the like out of sight.

• Have at least the garden gate, the front of your house and the trim painted, if necessary.

• Check the foundation, steps, walkways, walls and patios for cracks and crumbling.

• Inspect doors and windows for peeling paint.

• Sweep the porch and the front walkway.

• Repair and replace loose or damaged roof tiles.

• Re-seal an asphalt driveway.

• Keep your garage door closed.

• Store old and beaten up cars elsewhere while the house is on the market.

All in all, your attention to curb and exterior appeal should translate into excited buyers by the time they enter your home. With no 'cringe factors' outside the house, they are in a great frame of mind entering the house and fully expect a positive experience.

Maximizing interior appeal

There is a lot that you can do to improve the impression the interior of your home gives potential buyers, without getting into major renovations. In general, don't underestimate the power of paint! While we all have different tastes, please be aware that if you have outlandish taste in interior colour, you will be decreasing the pool of potential buyers. In other words, this is not an exercise in expressing yourself creatively; rather it is an exercise in creating an interior that appeals to as many buyers as possible. If necessary, repaint dingy, soiled or strongly colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.

Here are some of the other 'insider tips' that estate agents use:

Clear out the clutter

Real estate agents say buyers won't purchase a home they can't see. If your home has too much furniture, overflowing closets, crowded kitchen and bathroom countertops or lots of family photos or collectibles on display, potential buyers won't be able to see your home. Get rid of anything you don't need or use. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms have actually rented storage garages and moved half their furniture out, creating a sleeker, and more spacious look.

Removing less frequently used items from kitchen counters, closets, and attics make these areas much more inviting. Since you're anticipating a move anyhow, holding a garage sale at this point is a great idea.

Use your nose

Many people are oblivious to scents, but others are extremely sensitive to offensive odours. To eliminate bad smells, bathe your pets, freshen the cat litter box frequently, shampoo your carpets, dry clean your drapes, and empty trash cans, recycling bins and ash trays. Place open boxes of baking soda in smell-prone areas, and refrain from cooking fish or strong-smelling foods. Introduce pleasing smells by placing flowers or potpourri in your home and using air fresheners. Baking a fresh or frozen pie or some other fragrant treat is another common tactic when expecting buyers.

Make all necessary repairs

Buyers expect everything in their new home to operate safely and properly. Picky buyers definitely will notice - and likely magnify - minor maintenance problems you've ignored for months or even years. Leaky faucets, burned-out light bulbs, painted-shut or broken windows, inoperable appliances and the like should be fixed before you put your home on the market. These repairs may seem small, but left undone they can lead buyers to question whether you've taken good care of your home.

Here are a few examples:

• Check for cracks, leaks and signs of dampness in the attic and basement.

• Repair cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.

• Replace broken or cracked windowpanes, moldings, and other woodwork. Inspecting and repairing the plumbing, cooling, and alarm systems.

• Repair dripping taps and showerheads.

Keep it spotless

This is often a tricky point for estate agents to make - different people are comfortable living with different levels of cleanliness. To appeal to as many buyers as possible, it is imperative that every inch of your house is clean and grime-free. Giving every room in the house a thorough cleaning. Hiring a professional cleaning service, once every few weeks while the house is on the market. This may be a good investment for owners who are busy elsewhere.

Focus on the 'hotspots'

While all rooms in the home are important, estate agents know that kitchens, bathrooms and master bedrooms are the 'hotspots.' These rooms require special attention. Assuming that you don't do major renovations, here are some ideas:

• Kitchen cabinet and general cupboard doors can be spruced up with a paint technique and new handles.

• Repaint the kitchen and bathroom walls in neutral colour, if necessary.

• Clean all tiling grout using a grout cleaning product. (You can buy grout cleaner from your hardware store.) You'll be amazed how much better your tiles look!

• If your lights are dated, consider replacing them.

• Consider retiling your kitchen and bathroom, if appropriate.

• New curtains in these areas may be a worthwhile investment.Buy new towels for the bathroom, to be brought out only when prospective buyers are on the way.

Selling Your Home: 10 Tips for Choosing a Real Estate Agent

 Before you sell, it's a good idea to interview at least two or three different real estate agents. Meet with them individually, and handle each meeting as if you were conducting a job interview (selling your home is an important job, after all!). This checklist will help you evaluate and compare the agents you meet:

1 --Professional

Once you've established the basics (licensing status, etc.), look for other indications that the agent will handle your home sale professionally. Does he or she belong to any local real estate organizations? In Manhattan, for example, The Real Estate Board of New York (REBNY) tracks credentials and continuing education of its members, and provides many valuable resources for members, sellers, and home purchasers.

What sort of training did the sales agent receive? You'll find that this may range from the minimum required for licensing, to a full-time company training program of six weeks or more. Also ask if the agent has done any advanced training. Perhaps he or she has taken extra courses and exams to become a licensed broker, an accredited home-staging specialist, an appraiser, etc.

Do a bit of research, too, in order to learn as much as you can about the company the agent works for. Is it a company with a strong reputation in your area? Does it specialize in your neighborhood, or your type of property? Does the company provide its sales agents with the most up-to-date technology?

2 -- Knows the Market

In order to price and market your home effectively, your real estate agent will need to have a thorough understanding of your neighborhood in particular, and state of the real estate market in general. Expect to see "comps" (comparable properties) of similar homes that have sold recently, as well as those that are currently on the market. And find out what other techniques the agent will use to determine the best price -- and best marketing strategies -- for your home.

Has the agent sold in your neighborhood? Has he or she sold similar types of homes, perhaps in another neighborhood? Has the agent ever lived in your area? Is he or she familiar with the neighborhood schools? Restaurants? Museums? Ask lots of questions to find out how well the agent will be able to represent you, and your home, to prospective purchasers.

3 -- Accessible

Buyers will want to see your property at all times of day -- daytimes, evenings, and weekends. So be sure you hire an agent who is available full time, and accessible to you virtually around the clock to handle any questions you may have, or issues that may arise.

And remember, accessibility is a two-way street! Be sure to support your agent by making your home as accessible as possible for showings -- even when it feels a bit inconvenient to you.

4 -- Good Listener

When you interview real estate agents, give extra points to those who ask as many questions as you do. Did the agent arrive with a 'standard' presentation, or is he or she able to make -- or adjust -- his or her recommendations based on what comes up in your conversation?

How interested is the agent in learning your point of view? How many questions does he or she ask about your personal goals and needs? After all, pricing and sales strategies could vary substantially based on what you're looking to accomplish (for example, you may need to sell quickly to meet a job relocation deadline, need to work around an existing tenant, or simply want to make the most profit no matter what the timeline).

5 -- Tells the Truth (even when you don't want to hear it!)

Expect that a good real estate agent will challenge you once in a while, ask the tough questions, and yes, even disagree with you occasionally. When he or she makes a recommendation that seems off-base, give your agent the opportunity to give you the facts -- and share his or her knowledge and experience -- before making a final decision. Learn to trust your agent's intuition, insights, and perspectives; they'll often lead you in the right direction.

6 --Team Player

Your real estate agent should be able to recommend a great team of professionals to support your sale -- from mortgage brokers and appraisers, to cleaning services and real estate attorneys.

Be sure, also, that your real estate agent enlists the help of other agents in your area in order to bring you the best buyer. In Manhattan, for example, more than 95 percent of sales are co-broked (one sales agent representing the seller, another the buyer), so it's especially important to work with someone who actively markets to other agents, and other real estate companies.

7 -- Helps Prepare Your Home for the Sale

There are entire books written on how to get your home ready for a sale, so we won't go into great detail here. Be sure to ask your real estate agent whether renovations -- particularly to the kitchen or bathrooms -- make sense. Decide if any re-painting -- or paint touch-ups -- may be necessary to make your home more attractive to buyers.

However you decide to proceed, be sure to follow these four basic steps before inviting buyers in to see your home: 1) de-clutter, to make your rooms seem larger; 2) de-personalize, to keep prospective buyers' attention on your home, rather than on your 'stuff;' 3) repair everything that's not in good working order, from re-caulking to replacing light bulbs; and 4) clean, clean, clean -- until your home literally shines!

8 -- Buyer to Closing

Remember that finding an interested buyer is only the beginning. Be sure your real estate agent is well prepared to qualify the buyer, negotiate aggressively on your behalf, and assist the buyer in finding financing, if necessary. Your agent should be ready to follow through with banks and mortgage brokers, any other agents involved in the deal, and with the real estate attorneys, until the sale is complete.

And if you're selling a home in Manhattan, be sure you have a real estate agent who is adept at preparing the materials necessary for the board application package, following through with the management company, and if it's a co-op sale, preparing the buyer for the board interview.

9 -- Gives Timely Updates

Throughout the sales process, ask that your real estate agent stay in touch with you regularly, in the way that's most comfortable to you (in person, or by phone, email, or text messages). He or she should give you regular progress updates, and timely notice of any issues that may arise -- along with potential solutions, of course.

It's also likely that a good real estate agent will suggest changes to sales and marketing strategies along the way. These minor course corrections will help eliminate any less effective efforts, and capitalize on what's working best. The result? Finding the buyer you're looking for, more quickly.

10 -- The Relationship

Don't underestimate the importance of your real estate agent's personality when you choose your selling partner. You'll be spending a lot of time with them -- and entrusting them with one of the most important transactions of your life. So be sure to find someone you not only trust and respect, but also look forward to working with.

Chances are, your home represents the largest purchase you have ever made. What's more, your home is not just a financial investment, but an emotional investment as well. When you decide to sell, be sure to enlist the services of a real estate agent who has the knowledge, experience, and understanding that will be necessary to navigate you safely and securely through every aspect of the selling process.

Buying a New Home: 10 Reasons to Use a Real Estate Agent

Why, then, should a buyer enlist the services of a real estate agent? Here are ten reasons that I think make a lot of sense. After reading them, see if you agree:

1 -- Experience

Purchasing a new home may well be the largest expenditure that you ever make. So it simply makes good business sense to enlist all the help you can get.

A seasoned real estate agent has completed more real estate transactions already this year than you'll likely make in your lifetime. That adds up to a whole lot of knowledge and experience. Experience that can help navigate you safely and securely through every aspect of the buying process.

2 -- Knows the Market

A real estate agent will know what's happening in a particular area, or neighborhood, and help you decide if a home you find is a good value. Once you find a property that interests you, your agent will show you "comps" (comparable properties) of similar homes that have sold recently, as well as those that are currently on the market.

And if your real estate agent works with an established firm, he or she will have instant access to a host of proprietary tools -- and property information -- that may be difficult, or even impossible, to find on your own. All this information will help you make a well-informed decision.

3 -- Saves Time

A good real estate agent is an organizational genius. He or she will manage to get you in to see new properties as soon as they become available -- and arrange the most appointments possible within your available time slots, no matter how limited.

But remember, accessibility is a two-way street! Be sure to support your agent by being as flexible as possible -- especially when your time is very limited.

4 -- Good Listener

If you decide to use a real estate agent, look for someone who asks as many questions as you do. When you mention a price range, does the agent give you a 'standard' list of available properties, or is he or she able to make -- or adjust -- his or her recommendations based on what comes up in your conversations?

How interested is the agent in listening to your point of view? How many questions does he or she ask? After all, your real estate agent's recommendations should vary substantially based on your personal needs and goals (for example, you may be starting a family, need to configure your new home to accommodate an office, need space for your son's new car, or be downsizing).

5 -- Tells the Truth (even when you don't want to hear it!)

Expect that a good real estate agent will challenge you once in a while, ask the tough questions, and yes, even disagree with you occasionally. When he or she makes a recommendation that seems off-base, give your agent the opportunity to give you the facts -- and share his or her knowledge and experience -- before making a decision. Learn to trust your agent's intuition, insights, and perspectives; they'll often lead you in the right direction.

6 -- Respects Your Budget

One of the most important things that your real estate agent will do is help you determine how much you can afford to spend. He or she may well ask you to consult with your accountant, financial planner, and/or mortgage broker before you make this important decision.

In some markets, there's a lot more to purchasing an apartment than having cash for the down payment, and securing financing. For example, most Manhattan cooperative buildings ('co-ops'), which account for about 75 percent of the properties in the city, will also look at your debt-to-income ratio (DTI), and your post-closing liquidity (yes, it can be a bit complicated!).

A good real estate broker will understand the particulars of your market, and help you find a terrific housing solution that you'll be able to qualify for financially -- and that will be possible within your budget.

 7 -- Team Player

Your real estate agent should be able to recommend a great team of professionals to support your purchase -- from mortgage brokers and appraisers, to contractors and designers and real estate attorneys.

8 -- Getting to Closing

Remember that finding the right property is only the beginning. Be sure your real estate agent is well prepared to negotiate aggressively on your behalf, and assist you in finding financing, if necessary. Your agent should be ready to follow through with your bank or mortgage broker, any other agents involved in the deal, and with your real estate attorney, until the purchase is complete.

And if you're purchasing a home in Manhattan, be sure you have a real estate agent who is adept at helping you put together the materials necessary for the board application package, following through with the management company, and if it's a co-op purchase, preparing you for the board interview.

9 -- Gives Timely Updates

Throughout the buying process, stay in touch with your real estate agent regularly. He or she should give you regular updates on new properties, any changes in the local real estate market, mortgage rate changes, and so on. And you should update your real estate agent right away should any of your priorities change, or if your research turns up a property you may be interested in seeing. The result of working together closely? Finding just the home you're looking for, more quickly.

10 -- The Relationship

Don't underestimate the importance of personality when you choose your real estate agent. You'll be spending a lot of time with them -- and entrusting them with one of the most important transactions of your life. So be sure to find someone you not only trust and respect, but also look forward to working with.  

Many home buyers try to find the perfect property on their own. No surprise, actually. With internet access to more real estate information than ever before, it's fairly easy for anyone who's computer literate to access a list of available properties in every part of the country.

Happy Father's Day

Happy Father's Day

A Dad is a person
who is loving and kind,
And often he knows
what you have on your mind.
He's someone who listens,
suggests, and defends.
A dad can be one
of your very best friends!
He's proud of your triumphs,
but when things go wrong,
A dad can be patient
and helpful and strong
In all that you do,
a dad's love plays a part.
There's always a place for him
deep in your heart.
And each year that passes,
you're even more glad,
More grateful and proud
just to call him your dad!
Thank you, Dad...
for listening and caring,
for giving and sharing,
but, especially, for just being you!
Happy Father's Day


Poem found at http://www.indianchild.com/fathers_day_poems.htm

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