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Showing posts with label Home Buyer Tips. Show all posts
Showing posts with label Home Buyer Tips. Show all posts

4 Qualities of an Exceptional Buying Agent


If you need a real estate representative for your next home purchase, there are four qualities to look for if you want to hire the best possible agent.

When it comes time to buy a new home, how can you be sure that the agent you’ve hired is well-suited for the job? There are four key qualities to look for when evaluating an agent’s fitness for your transaction: 1. How much experience does the agent have? About 90% of the homes in our market are sold by about 10% of the active agents within it. What’s more is that the average agent only sells between three and five homes every year. A truly experienced agent will be much more active than this. Find someone who is not only very active, but is also providing quality service to their clients. Zillow is a great resource for finding active agents—they have profiles set up on the website, and clients can leave reviews for you to look at. You can even check out our Zillow profile by clicking here. On average, agents on our team typically sell between 18 and 30 homes a year—five times the number of the average agent. 2. What negotiation skills does the agent have? Most brokerages provide contract training, but training on negotiation isn’t as typical. However, negotiation skills are extremely important, since it’s through negotiation that you can determine how much equity you’ll end up with at the end of your transaction. Everyone on our team is a certified negotiation expert, all taught with the same curriculum used at Harvard Law. We’re very effective in getting our clients homes for the lowest possible price.

Everyone on our team is a certified negotiation expert, all taught with the same curriculum used at Harvard Law.


3. What resources does the agent have? A good buyer’s representative will offer you some off-market properties in addition to what can be found on the MLS. Almost 25% of the transactions that take place today involve homes that never made it the MLS. Those transactions are brokered between the top 10% of agents mentioned earlier. In addition to getting you access to more listings, a top agent can provide other resources like vendor referrals for movers, painters, contractors, and more. 4. Can you click with their personality? Over the course of the transaction, agents and clients tend to form an intimate relationship. We’re helping you build your dream of moving into your new home, so of course you’d want to work with someone you actually enjoyed working with. If you’re in need of an agent to represent you during your next home purchase, we’d be delighted to interview for the opportunity to help you find your dream home, so feel free to reach out us. We’ll be right here, ready to help you create a better life through real estate.
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Location: Silicon Valley, CA, USA

Don’t Forget These Home Buying Costs


When buying a home, it’s sometimes easy to forget about certain other costs that come with it. Here are five such costs that you need to remember to budget for.

As a homebuyer, here are five costs that often get forgotten about that you need to remember to budget for: 1. The down payment. Most people don’t actually forget the down payment, but they forget about what kind of difference how much you put down makes. In our area, you can put down as little as 3% for any property up to $700,000. Above that price, you usually have to put down a minimum of 10%. To get the best interest rate from your lender, you’ll have to put down 20% or more. 2. Your financial reserves. You’ll need at least six months’ worth of mortgage payments and property tax payments saved up when you buy a home. 3. Moving expenses. Unless you’re doing it all yourself (which I don’t recommend), moving isn’t cheap. A good moving company usually costs between $2,500 and $4,000, and we can refer you to several movers who will take great care of you.

Unless you’re doing it all yourself, moving isn’t cheap.


4. Furniture. Buying a new home is exciting, and once you move in, odds are you’ll want to fix it up exactly the way you want it. This usually means buying new furniture. Also, don’t forget about the essential items you might need to buy, like a new broom. 5. Home updates. If your new home has an old bathroom that you want to fix up, you’ll have to budget for that. How much this will cost you can vary, so we’d be happy to come to your home, give you an estimate, and recommend some excellent contractors. If you have any more questions about these costs or you have any other real estate needs, feel free to give me a call or shoot me an email. I’d be happy to help you.
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Location: Campbell, CA, USA

How to Win a Multiple Offer Situation: Part 1


Having the right financing is essential to winning a multiple offer situation, and today we’ll discuss three pieces of advice related to this point.

Today’s market is extremely competitive for buyers. So when they're up against multiple bids from other buyers on the same house, what can they do to make their offer stand out? Today's topic marks the first installment of my series that addresses that very conundrum.

 Our team’s preferred lender, Michael Treon, is going to help me cover the answer to this. Let’s kick off our discussion with three things buyers should do to set themselves up for success.

1. Get fully approved. Winning in a multiple offer situation starts with getting the right financing in place. Getting fully approved and underwritten, not just pre-approved, is essential. A full approval will allow you to be competitive in the marketplace because it eliminates the need for you to include a loan contingency on your offers. Today’s sellers are looking for the cleanest possible offers because they want to close quickly and without issue. 

Winning in a multiple offer situation starts with getting the right financing in place.


2. Select a lender who can provide financing the performs like cash in the market. Over 30% of buyers in today’s market are submitting all-cash offers. These offers easily win out against those with conventional loan financing because they allow a shorter close of escrow. Therefore, it’s very important that the offer you submit can stack up against ones such as this. Michael Treon and his team are able to provide buyers with financing that allows for an exceptionally fast close of just 17 days.

3. Consider all loan options. Don’t limit yourself by looking exclusively at 30-year fixed mortgages. The reality is that most homeowners won’t stay in a property for the full 30 years, so it’s critical to consider alternative loan options. There are a lot of opportunities to secure a home with a loan product that makes sense for your personal circumstances.

 Now that you understand how the right financing can boost your success in multiple offer situations, be on the lookout for part two of our series. Next time, we’ll talk about how to access off-market properties, and how doing so can help you find a home in today’s competitive market.

 If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
To view Michael Treon's mortgage pre-approval process, click here.

 Michael Treon
Senior Mortgage Loan Officer
PNC Bank
NMLS ID: 339550
michael.treon@pnc.com
pncmortgage.com/michaeltreon
(Office) 415.505.7558 | (f) 844.274.9911
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Location: Silicon Valley, CA, USA
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