2.  When you find a home you are interested in, act quickly… MAKE THAT OFFER, before someone else does!

3.  Find the RIGHT REAL ESTATE PROFESSIONAL… who is willing to patiently help you through the process, and creates a WIN/WIN for all parties.

4.  Make your offer look as appealing to the seller as possible!… I have seen clients loose a home for under $1000-2000!  Be serious when making an offer!

5.  Think about resaleability before you purchase a home… the average first-time buyer only stays in their home for four years. 

For more information regarding purchasing a home, please contact me at 801-577-8605 or email me at  DanetteS@HomeRealty.com

Thanks for stopping by,

Danette Suker

Based on Info from REALTOR Magazine

To borrow some of today’s language from the  Mortgage Market Guide here is the latest:
 
“The House of Representatives has approved legislation that would extend and expand the credit. The House vote comes after the Senate voted yes on Monday night, and while there is more work to be done, word has it that an agreed upon bill should reach President Obama for his signature by the end of this week.
 
Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension would cover homes under contract by April 30th and closed by June 30th, 2010. And, as predicted, the tax credit will be expanded to non-first time homeowners as well. There are a few tweaks for non-first time homebuyers—the credit is reduced from $8,000 to $6,500, and they must have owned (and I believe lived in) their home for at least five of the past eight years.
 
Remember, this is NOT final and even if it is approved, it could contain further changes.”

*(The above Info was provided from Cameron Adams with First Security Home Loans)

If you have further questions or concerns regarding this information, please don’t hesitate contacting me! 

Blessings,

Danette Suker/801-577 8605

@Home Realty Network

There are GREAT DEALS out there with Builders.  To compete with the market, BUILDERS are offering several incentives which are hard to pass up… here are a few:

1.  In some areas, including Lehi, the base price for a brand new home is less than existing homes…  Many of these new homes already have great upgrades included in that base price!

2.  When you use their lender, many times they will offer between 3-6% either for closing costs or to help buy down your interest rate.

3.  Most builders also give incentives toward upgrades to use in their Design Centers…  perhaps to add a gourmet kitchen, 2 tone paint, granite counters, stainless steel appliances, or upgrade the carpet, etc.

4.  It is true, there are a high volume of homes currently on the market in Utah County, yet if you really want to take advantage of these GREAT BARGINS, build a new home… JUST THE WAY YOU LIKE IT!!!

5.  Take advantage of the $4000 Home Run Grant!  Buy a Spec Home, or Build Your OWN!

For more information on NEW CONSTRUCTION in LEHI and surrounding areas… contact me!  801-577-8605.

Here are a few ideas for you!!!

1.  SOLDS In Your Area:  It is very unlikely that a buyer will pay you more for your home than they would a similar home in features, etc.  How do we know what a buyer may be willing to pay for your home?  We look at the prices of similar homes in your neighborhood that have recently sold.  Homes that are currently on the market, but have not yet SOLD, are not an accurate way to determine your price… remember… those homes haven’t sold yet!

2.  The Location of Your Home:  Have you ever heard the Real Estate Term:  “LOCATION, LOCATION, LOCATION!”  More than likely you have.  Remember that buyers are willing to pay sometimes very different prices for a similar home when they are located in different areas… could be just the right LOCATION for them and you!

3.  Condition of Your Home:  Remember your home will be competing with other homes that are also for sale.  Those that are in top condition will receive top dollar.  When you are ready to sell your car, you would not hesitate to wash and wax and make it SHINE… your home should also be in “Showroom” condition when you decide to put it on the market.  Remember FIRST IMPRESSIONS are so Important!  The first 2 weeks a home is on the market is the most critical time… make your home “SHINE” and you are sure to make the most of that critical time.

4.  Interest Rates and Economy: What do you think is the biggest factor that influences the market?  A big influence is the number of homes that are currently available vs the number of active buyers.  A high demand for houses will increase the overall value; a low demand for houses, will lower those values.  Another important factor to consider is; what are the current interst rates, and how strong is your local economy.  Real Estate Values tend to decrease in times of recession, and obviously increase when the economy is strong.

What Are the Benefits to Accurate Pricing?

1.  Faster Sale:  More buyers and More Realtors will see your home and create an excitement about your home when it is priced right!

2.  More $$ To You… (Won’t that be nice!) When a home is priced right, the excitment of the market often causes a higher sales price.  Buyers are less likely to make low offers on a good home, out of fear of loosing that home when it is priced fair.

3.  More Convenient:  When a home is priced right it also means less time on the market, which means fewer showings for you and fewer hassles with your lifestyle.

4.  Agent Excitement: When a home is first put on the market, it does generate a certain “BUZZ” among local Realtors.  When an agent is excited about a home’s price and condition, they will make a special effort to show that home to their potential buyers, as well as tell other Realtors what a Gem they have found!

5.  Exposure to the “RIGHT” Buyers:  When a home is priced too high, buyers not only refuse to make offers, many times they are not even interested in seeing the home.  They may feel the seller is unrealistic with the price, and won’t even waste their time.  Most buyers view numerous homes before making a purchase.  If your home is priced competively, you will have more opportunities for the “right” buyer to see it and make an offer.

RISKS OF OVERPRICING!!!

1. An Unrealistic Price may Delay or even Prevent a Sale.

2.  Many Qualified Buyers won’t even Look!

3.  Those who do will more than likely be Disappointed.

4.  Interested Buyers will Hesitate making an Offer.

5.  After awhile some people may think something is wrong with the home!

6.  When Time Runs Out , You May Be Forced To Accept Less Than Fair Market Value For Your Home!

WITH SO MANY HOMES ON THE MARKET… PRICE YOUR HOME COMPETITIVELY AND BE ONE OF THE LUCKY ONES WHO SELL!!!

1.  Maintain the home and property in the best possible condition.  Have a “show ready” home.  This responsibilty continues through closing.

2.  Make sure the home is available for showings at all reasonable times.  Also understand that having a key box on your property will increase your showings over 30%.

3.  Stage your home if possible… your realtor can assist you if you need help.

4.  Always provide easy access to the home… provide keys, and if renting the home, provide tenant names and contact info.

5.  Remove your pets from the home during showings.

6.  Leave the home when possible during showings.

7.  Have lights on, candles for fresh scent, even leave your fireplace on during winter months… adds to the buyer’s experience.

8.  Ask for business cards of all Realtors who show your home.

9.  Notify your realtor if  the sign, or other sales material becomes damaged.

10.  After a couple weeks, if you are not getting several calls and showings each week, consider adjusting the price… the longer a home is on the market, the less the value in the eyes of the buyer.

11.  Speak to your realtor if you have concerns… communication is very important!

12.  Notify your realtor if any circumstances change, lawsuits, leins, re-finances, and changes in marital status occur through the listing period.

13.  Make sure your agent has an “800″ number on your property… interested buyers may hesitate to call your realtor but will not feel threatened by calling a recorded message… your agent can then capture their contact info and call them, many times while they are still sitting in front of your home!

14.  Contact your realtor if your motivation in selling your home changes.

15.  Contact your agent if you would like to view or purchase a home.

16.  Keep your realtor informed of your plans if you travel, just in case they receive an offer while you are away.

17.  Do not rent your home unless your tenant has agreed in writing to be corporative in showing the home.

18.  Have a voice recorded message on your phone to take message while you are away.

Here are a few tips when looking at Bank Owned Homes in the Highland, Lehi areas.

1.   A foreclosure or bank owned home is different than a short sale or regular sale.

2.   There are no Sellers Disclosures as the bank has never occupied the home and does not know the history.

3.   Homes are “AS IS”, although your agent can include certain items in your offer.

4.   It is recommended to always have an inspection to determine possible issues.

5.   A Pre Approval Letter is required so make sure you are pre approved before you submit an offer for review.

6.   All submitted offers are subject to Bank Approval or sometimes called “Subject to Third Party Approval”.

7.   The list price is the “bank approved price” and usually close to what the bank will accept.

8.   Offers can be over the list price.

9.   If you really love the home, offer your “Highest and Best”… don’t loose the home over such a small amount!

10.   Banks will usually respond to an offer within 24-72 hours.

11.   Bank Owned Homes can close very quickly, sometimes in just days from bank approval, so be ready to move!

These are just a few tips when working with bank owned homes or foreclosed properties.  Please feel free to contact me with any additional questions or concerns.

Danette Suker 801-577-8605