Is Your Realtor Educating You On The Market?

Today we all wish we had a crystal ball that will allow us to forsee what the near future holds for home prices and mortgage rates. However; the reality is that noone can predict what will happen or not in this market right now. For every article out there that says prices are goign to get worse there is one that says we have hti bottom and are climbing upwards. For all thsoe that said interest rates would never be this low; we have interest rates around 4% for a 30 year fixed rate right now. So, is your realtor educating you in regards to the current market out there?

We can not predict what the future will hold. But, we can tell you the current trend that is happening right now in regards to your community and area. For sellers, it may be letting them know this is what the comparable homes in the area have done in the past 30 days. This is what has sold and what has come off the market. These are the average days on the market. Here is how your home compares to the statistics from last month. Do you need to adjust your price?
Does the home need soem sprucing with the colder weather approaching? Without giving this information to our sellers they cannot make a sound reasonable descsion when they do receive an offer on a home.

What if you had your home on the market for 90 days. When you first put it on the market it was priced cometitively to the other homes in the area. However; the market all of sudden received more comparable homes like yours and the prices were lower. Now, your realtor does not tell you this and you receive what you feel is a low offer. Thus you are upset and refuse to negotiate witht eh buyer on the house. When in reality that number may have been the right number to start at for your house and you were slightly over priced for the market and the current trends. Are you making an educated descsion?

For buyers, it is easy as letting them know the trends that are occuring in regards to prices in a neighborhood they are considering putting an offer in. Average days on the market and price sold of comparable homes. The trend over the past few months. Is it going up or down? Stable? These are all factors that a buyer needs to know in regards to making a fair sound educated offer. but are we giving our buyers this information?

How are mortgage rates right now? Is there down payment assisitance availble for you to purchase that house? Is there an HOA? What restrictions does it have? What are the dues and what do you receive for those dues? All questions that need an answer for a buyer to make an educated descsion. Does this house qualify fro USDA 100% financing ro are you a veteran entitled to a VA loan? these are questions that a buyer may not know to ask.

If your Realtor is not educating you; then who is?

Dave diCecco
Realtor/Broker
www.davedicecco.com

Looking For A Realtor? Personality Is Important

Homebuyers are out looking for homes. A recent article I read (sorry forgot which publication it was) stated that of the 90% of people who begin their search for a home online over half do not have a Realtor or know one. That means about 45% of the people looking to buy a home do not know or have any experience with a specific Realtor in the area they are looking. So how do they decide among the thousands of us in any one metro area? What questions should they ask? Should they interview multiple agents? Should they sign anything? Where do they start and how do they know if the agent they hire is the right one for them? All questions I remember asking myself when I was looking for my home in Charlotte when I moved here. What do you look for in a Realtor?

First, you want a Realtor that you feel comfortable with. One that your and their personality will mesh and get along. You are going to be out looking at the largest investment you ever make in your life with this person. Don't you want to make sure that you and their personalities are ones that work well together. Some Realtors do not blend well with some buyers. We are all unique and not everyone is a perfect match for one another. With all the choices you have out there; choose one that fits your personality.

You are going to be divulging personal information to your Realtor. How much you can afford, down payment and credit. Make sure you are 100% comfortable with that Realtor before you take those steps with them. It is the largest investment you will make....It is like a saying someone told me when I first got into sales. "We are like a pair of shoes. They are going to try you on. If they like you they are going to buy you'.

Dave diCecco
Realtor/Broker
www.davedicecco.com