House hunting (continued)!

This is the next step after being pre-approved (see previous post).

Now that you have talked to a lender and he/she has determined an accurate and comfortable amount of money you can barrow we can start looking for your new home.

During this process it is a good idea to have your real estate agent educate you to the market conditions.
Market conditions:Factors that, at a particular point in time, affect the sale or purchase of a home.

Market conditions will tell you weather there are more homes for sale than there are buyers (buyers market) or if there are more buyers than there are homes for sale (sellers market).

Knowing this should help your expectation level as far as how picky you can be when looking for your new home or how agressive you should be to find your new home.

Currently in Toledo the maket conditions are predominantly a "buyers market". This is to the buyers advantage since it give the buyer more homes to choose from and typicaly forces the seller to compete with a lower listing price.

All you homeowners out there don't let this upset you and discourage you from selling your home.
Even though you might not sell your home for top dollar, remember you will probably be able to buy your next home for less too.

More house hunting tips later

Finding the house you'll call home

Here are a few suggestions you may consider.

How to find the house you will call your home.

The first thing anyone should do before they begin the ever exciting, and challenging house hunting tour is to talk with a lender and get pre-approved.

Know the difference between a pre-approval and a pre-qualification.

Pre-approval- is given after the loan officer has had a chance to review your financial position, this review will determine the amount of money the lender is willing to let you borrow.

Pre-qualification- is given (typically) by the loan officer over the phone without reviewing all of your financial. This qualification doesn't guarantee how much you truly can borrow and doesn't mean the lender will actually lend you money.

I will continue this later. If you have any questions feel free to ask.

Home Inspections

Today we are going to be talking about home inspections.

What is a home inspection?
A home inspection is an objective examination of the physical structure and systems of a home, from roof to foundation. A home inspection report or home inspection service is the equivalent of a physical examination from your doctor. When problems or symptoms of problems are found, the inspector may recommend further evaluation or remedies, making the home inspection cost well worth it.

What does a home inspection include?
A standard home inspection is a visual inspection of the condition of the subject home’s heating system, central air conditioning system (weather permitting), interior plumbing and electrical systems; roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; foundation, basement, and the visible structures of the home.

Can a house fail a home inspection?
No. A home inspection is an examination of the current condition of the subject property. It isn't an appraisal, which determines market value, or a municipal inspection, which verifies compliance to local codes and standards. A home inspector will not pass or fail a house. A home inspection describes the physical condition of a property and indicates what may need repair or replacement.

What if the report reveals problems?
No home is perfect. When the inspector identifies problems, it does not indicate you should not buy the house. The findings are to educate you in advance of the purchase about the condition of the property. A seller may adjust the purchase price or contract terms if major problems are discovered during an inspection. If your budget is tight, or if you do not want to be involved in future repair work, this information will be extremely valuable. The home inspection does not relieve the buyer from their obligation to purchase a home either.

The home inspection is a tool to help serve both buyer and seller of the true condition of the home. When defects are found the seller or buyer can negotiate them to be repaired or the purchase price adjusted.
A broken drawer in the kitchen isn't a major problem, a leaky roof is, you wouldn't expect a broken drawer to be fixed or there to be any type of adjustments for the drawer but for the roof there might be an adjustment in the purchase price or the roof repaired.
If the replacement cost for the roof is $6000.00 one shouldn't expect $6000.00 off of the purchase price. One might expect $1000.00

If the report finds evidance of cracking in the basment floor this might be from normal aging.
Each inspection is diffrent, Talk to your real estate agent and he/she can educate you further.

You may also contact me with any questions you might have.

Thank you and good luck

Rookie Season

Today has been an interesting day. I received a call today asking me if I could cover someone else's floor shift.
I was originally supposed to answer phones today from 8:30-10:30 but another agent asked me to charge days with her because today was better for her than last Friday, so we switched.

Well I came in today to cover for another woman who is sick and when I got to the office I was reminded that today I was originally scheduled to answer phones. I thought to myself "big Deal" but it was. The women who switched with me was in a conference room with a client that had walked in from off the street to list her house.
That would have been my (money) listing.
Thats OK I say to myself I'm here covering for someone els meaning free floor time.
I did get a few leads but nothing to promising yet. We'll see.

It's the time of year I'm telling myself. I'm a rookie and the last few months are the slowest for everyone even the big guy.

All I have to do is hang in here and eventually things will be consistent.

If anyone out there has a lead please sent it to me.

Don't forget this isn't just a place to read about me it's also a place to get info. ASK AWAY

Shadows Scare Me!

I have this fear of being stuck in the winter season for to long. What I mean is that I worry I might be affected by SAD (Seasonal Affective Disorder). I'm not going to try and explain in to much detail what this ailment is or how it affects people and animals. I have provided a link to a web site I believe has some very educational information. http://www.outsidein.co.uk/sadinfo.htm

SAD: is cause mainly from the lack of exposure to sunlight.

I believe we are all affected by this disorder. Some people more than others.
getting out and playing in the snow or hitting the ski slops puts me in a better mood.

There are a few reasons I rather we have a shorter winter.
First of all summer has many more activities to participate in.
Second it's easier to get a tan HAHA.
Third I can go swimming in my own pool.
Forth reason and maybe one of the best reasons is golf.
last but not least I can ride my motorcycle.

Don't get me wrong I don't hate or even dislike winter I just enjoy summer a lot more now that Im getting older. Winter was more fun as a kid.

You might be wondering why I said shadows Scare me in the Title. This is in reference to the groundhog seeing it's shadow.

Good day everyone.

I Lost It

Now I don't have to worry about the conflict of interest.
I called this morning to set up the 2 showings to find out the home has been sold.
One of the clients I'm working with I told "this home wont last long on the maket" she asked why so I explained to her the home if fixed up ($20,000-$30,000 worth of repairs) would be worth twice as much as it were purchased for.
She didn't believe me and not in a rude way but didn't believe me that the home would sell so quick. It's only been listed for less than a month.

As far as the other client goes he's nuts. To begin with I told him the same thing I told the other client and he out right told me this house has to many repairs to sell this fast.
OK buddy, whats up with the house now.

I'm only a real estate person I don't know jack.