Choosing a Discount Listing Agent

April 18, 2013 by

Choosing a Discount Listing Agent

This may sound self serving and or like a solicitation, but hear me out. In these tighter economic conditions, many sellers choose their listing agent based on the commission their listing agent charges. There is no “Standard” commission and it varies greatly between companies, and even agents within the same company. However, negotiating is one of the main functions of your realtor/real estate agent. How quickly did they decide to come down in their commission?  If their job is to get you the highest price for your home and that agent is willing to give up their money that quickly, how fast would they be willing to give up YOUR money in the negotiation?  For example, if he/she went from 3% to 2% that is 33% discount – is that really who you want negotiating for you?

How to Avoid It – Hire an agent who is an expert negotiator and don’t choose your agent based on cost alone. Evaluate their entire business proposal, marketing plan, experience, etc. Often an agent can charge slightly more but you still walk away with more money because they can negotiate a higher price and terms for your home.

 

Please visit my website to see how well I will market your Boulder property for sale

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

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More Home Buyers Asking for Insurance Loss History Reports From Sellers (C.L.U.E. Reports)

April 14, 2013 by

More Home Buyers Asking for Insurance Loss History Reports From Sellers (C.L.U.E. Reports)

 

An increasing trend in Colorado real estate is home buyers requiring home sellers to provide a C.L.U.E. Home Seller’s Disclosure Report as a contingency to purchase contract. C.L.U.E. Home Seller’s Disclosure Reports provide a five-year insurance loss history for a given address, without divulging personal and private information about a property owner.

FOR BUYERS: If the report for your property indicates the owner/home has sustained an insurance loss within the past five years the availability and/or pricing of buyer’s new homeowners insurance policy can be greatly impacted. You might not be able to get a policy or it may come at much higher cost than you are expecting. In addition, if a claim is shown, you can make sure to verify the repairs have been completed, request work receipts, and even have your home inspector evaluate the repairs for you. If the repairs have not been made that raises some flags and you want to share these areas with your home inspector as well.

FOR SELLERS:   You can order this when you list your home (and not wait for the buyer to request it) By ordering the C.L.U.E. Home Seller’s Disclosure Report ahead of time you can be ready should this contingency arise when you receive an offer. In addition, providing this report to potential buyers will make them more comfortable when deciding to make an offer because the loss history is known. This may give your home an advantage over one where the insurance loss history is not known.

The seller’s insurance agent should be able to run this report, or the seller can order one directly online at Lexus Nexus

Boulder homes for sale

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

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Fannie Mae and Freddie Mac Help More Than 2.5 Million with Foreclosure Prevention Actions

February 27, 2013 by

Fannie Mae and Freddie Mac Help More Than 2.5 Million with Foreclosure Prevention Actions

Fannie Mae and Freddie Mac completed more than 134,000 foreclosure prevention actions in the third quarter of 2012, bringing the total foreclosure prevention actions to more than 2.5 million since the start of conservatorship in 2008 with nearly 1.3 million of those actions being permanent loan modifications. These actions, which have helped more than 2.1 million borrowers stay in their homes, are detailed in the Federal Housing Finance Agency’s third quarter 2012 Foreclosure Prevention Report, also known as the Federal Property Manager’s Report.

The quarterly report has information on state delinquencies and an updated, interactive Borrower Assistance Map for Fannie Mae and Freddie Mac mortgages, with information on delinquencies, foreclosure prevention activities and Real Estate Owned (REO) properties.

Also noted in the report:

• Year-to-date, Fannie Mae and Freddie Mac have completed nearly 411,000 foreclosure prevention actions.
• Nearly 38,000 short sales and deeds-in-lieu were completed in the third quarter, up 4 percent compared with the second quarter.
• 45 percent of troubled borrowers who received loan modifications in the third quarter had their monthly payments reduced by more than 30 percent.
• More than one-third of loan modifications completed in the third quarter included principal forbearance.
• The number of the Enterprises’ delinquent borrowers has declined 9 percent since the beginning of 2012.

REO inventory continued to decline as property dispositions outpaced property acquisitions during the third quarter.

For more information, click here

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

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First-Time Homebuyers Face Stiff Competition from Investors

February 17, 2013 by

First-Time Homebuyers Face Stiff Competition from Investors

first-time_homebuyers_family In this hot market the homes moving fastest have two types of increasingly web savvy buyers: First time homebuyers who take advantage of FHA financing and absentee buyers looking for investments.

“All-cash purchases and absentee buyers are at nearly twice their historic 12-year averages,” says Chris Pollinger, senior vice president of Sales for First Team Real Estate. “At the same time, FHA loans have dropped for another month even though they are still high, which shows that these two different groups are increasingly competing for single family homes in the price range of $225,000 to $400,000.”

According to figures released by DataQuick, nearly 1 of every 3 property purchases were to investors, many who paid all cash for houses with a median price of $245,000. At the same time, first-time homebuyers made up 25.5 percent of mortgage originations with FHA backed loans, down for the second time in as many months.

As these two groups compete for the mid-range of properties, they are increasingly using the web to find the properties that suit them best.

Analysis of thousands of home listings and hundreds of other criteria yielded three key reasons why first-time homebuyers and investors are using the web to get a leg up in the battle for homes:

• Local brokerage sites display 100 percent of the agent-listed homes for sale compared to about 80 percent for the national portal sites.
• Local brokerage sites show newly listed homes for sale 7 to 9 days earlier than national portals. FirstTeam.com is updated four times daily.
• Local brokerage sites almost never show a home listing as active that has already sold; about 36 percent of listings that appear as active on national portals are no longer for sale.

For more information, visit www.FirstTeam.com

John Marcotte

www.boulderhomes4u.com

720-771-9401

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What Today’s Homebuyer Wants and How You Can Give It to Them

February 6, 2013 by

What Today’s Homebuyer Wants and How You Can Give It to Them

Homebuyer-Wants_BH&G Buying a home is a multifaceted and often confusing transaction no matter how well-informed the buyer may seem. Today’s homebuyer is savvier than ever , having more information than ever before available right at their fingertips.

The buyer of today has educated themselves with data and trend reports on the housing and financial markets, as well as on their own communities. They know that you are no longer the gatekeeper of information.

As a result, today’s homebuyer requires more than the standard sales pitch. They anticipate that their agent be attentive, alert and highly attuned to their needs.

Today’s Savvy Homebuyer:
• Has already done their homework on communities and houses before they come to you
• Has the ability to recognize authenticity and will not settle for less than an agent who is transparent in their actions
• Has already researched who you are and has made assumptions about your professional credentials and skills
• Has a clear picture of what they want and what they think they should pay for it
• Expects to receive your undivided attention and anticipates you to respond quickly and honestly

To connect with a buyer in today’s market, standing out from the pack is a must. Understanding their expectations and having a clear picture of what those are is also critical prior to engaging in a transaction.

What Today’s Homebuyer Wants:
1. Brutal Honesty – Today’s buyer wants to receive news quickly along with an immediate solution or resolution.
2. Exceptional Service – What do you bring to the table that the buyer cannot learn on his or her own? Are you a community expert? Can you help them objectively prioritize their needs vs. wants? Can you help them take the emotion out of the transaction and interpret the facts?
3. Clear Direction – When discussing terms of the contract or other important matters, do you give clear direction delivered in a manner that eliminates any guessing on the part of the buyer? Today’s buyer wants your professional advice and will not tolerate being left to figure things out on his or her own.
4. The Right to Choose – Do you give your clients options with an understanding of how each one affects them? Today’s buyer does not want to be backed into a corner.
5. Professional Input – Do you offer clear, concise direction and give unbiased advice that permits your client to make an informed decision?
6. Sympathetic Ear – Are you sympathetic to your client’s needs, but determined and forceful when they need a little “tough love?”

Today’s buyer looks to their real estate professional for guidance and support. Evaluate your system, your strengths and your desire to meet those needs.

At Better Homes and Gardens® Real Estate, we believe in empowering the informed consumer with exceptional service, sound guidance, and helping them interpret critical information for a positive outcome for their transaction.

 

To read this article on Better Homes and Gardens Real Estate’s blog, “Clean Slate,” visit: http://bhgrealestateblog.com/2013/01/11/what-todays-homebuyer-wants-and-how-you-can-give-it-to-them/

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

 

 

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