Real Estate Tips: Buying new construction? Yes, you need a Realtor®.

New Home for 2.25.14
With new home sales in 2013 up 16.4 percent over 2012, it’s clear that many homebuyers are considering new construction homes again.

And, since most new developments have an agent on-site, new construction homebuyers may wonder why or if they need a Realtor®. Let’s take a moment here to examine the question more closely.

Buying a home is likely the biggest investment you will ever make, so it’s generally a good idea to have a Realtor on your team.

A Realtor will help you learn about buying a new home, find a builder in your target location and budget, help you explore the latest building trends and become a more educated consumer. When looking at new construction developments, a Realtor can help you find and compare different communities, builders and floor plans.

If you make the decision to go with a particular builder, it is the on-site sales agent, who works for the builder, who will help you make flooring and lighting selections and write your sales contract. Your Realtor will help you negotiate the contract, explain the process and be your advocate throughout the transaction.

Using a Realtor as your representative in this transaction won’t increase the price of the home, nor will not using a Realtor reduce the price of the home.

Before you close on your purchase of a newly constructed home, you, your Realtor and the builder will do a final “walk-through”, providing an opportunity to spot items that may need to be corrected or adjusted. During the inspection, your Realtor can advocate for you and ask the right questions about:

  • The operation of the house’s components
  • The buyer’s responsibilities for maintenance and upkeep
  • Warranty coverage and procedures

Buying a newly constructed home can be more complicated than it first appears. Representation by a Realtor gives you peace of mind, and an expert set of eyes to make sure that you get the home you expect and deserve.

Tony Jarrett
Allen Tate 
Regional Vice President, Triad

Posted 2/25/2014

Real Estate Market: Great Expectations

What can you expect as a seller and request as a buyer in today’s market?... When it comes to buying and selling a home, the rules have changed. Both the seller and the buyer have goals they wish to reach and with the help of a local Realtor, the result is mutually beneficial. Today’s market is a buyer’s market but that doesn’t mean sellers can’t fare well. They may feel like they have to sacrifice on their sale of their home but when they become the buyer, they will reap the benefits on that side.

 Here are some helpful tips for succeeding on both sides in today’s housing market.

 

SELLERS: Now more than ever, a seller needs the expert advice of a Realtor. Your Realtor will give a ‘must do list” -items that need to be addressed in order to sell the home- and is not optional. The process will likely take several weeks longer than in the past, so the sellers need to be patient. A good way for the seller to differentiate their property from the others on the market is with a home warranty and/or pre-inspection. These little items will keep little issues from being blown out of proportion, and help balance the scales during negotiation. Also, buyers will ask for the moon. However, experts are finding that most buyers become emotionally attached to a home as soon as an offer is agreed upon, and are not quick to walk away at this point.   BUYERS: Although it may seem like it, buyers do not control the whole situation. It is fair and common for a buyer to request repairs, but unfair to take advantage of the inspection process and try to negotiate twice for the items that need work. Today’s buyers can also be unrealistic in understanding the financing requirements and the time it takes to underwrite a contract. While many sellers are willing to make concessions in order to sell, they will still walk away if a buyer is too demanding. Losing money, especially on something personal like a home, packs a powerful and emotional punch. Moral of the story: The seller wants to sell. The buyer wants to buy. Put yourself in the shoes of the other; play nice; and you’ll both end up feeling like you’ve won.

 

Real Estate: Why You Need a Realtor NOW More Than Ever

Surely, buying or selling a home can’t be that difficult, right? Think again. Today, it’s a new world for residential real estate. Homes are taking longer to sell and selling for lower prices. Buyers are taking their time to find the perfect home at the best value and asking  for more seller concessions. Lenders are more closely scrutinizing loan applications and extending less credit. Short-sale and foreclosure properties are abundant, but buying one can seem next to impossible. If you think you could do it alone, ask yourself the following questions: Are you objective? Available nights, weekends and holidays? Ready to go toe-to-toe with a Realtor representing the buyer? Are you willing to spend hundreds or thousands of dollars to market your home? Do you have access to the top local, regional and national real estate Web sites? Do you fully understand seller disclosures, appraisals and other key paperwork? Are you prepared to deal with legal consequences if you don’t? Not using a professional Realtor like us is a little bit like defending yourself in court. You might think you’ll do okay, but by the time you realize it wasn’t a good idea, it might be too late! Let The Lee Ann Miller Team help you with your real estate transaction.