Five Advanced Home Buyer Services You Should Expect from Your Agent
Any real estate agent can show any home buyer any listed home. Everyone knows that by now, so it's no wonder that many buyers don't place any importance on selecting which agent they work with, they just want to buy a house. It's incredibly understandable, because the choice of a selling agent SEEMS irrelevant.
It's the ADVANCED services that an agent offers that can make such a difference in a home buying experience, not only during the actual purchase transaction, but each and every year thereafter, and culminating in a more profitable transaction when it is time to SELL the house.
The time a buyer takes to interview an agent to help them is perhaps the BEST investment they can make. And it is a step that so many buyers fail to take, wanting to jump right in and search for pictures of houses online. That course of action often leads to an over-excited call to the listing agent (who represents the seller) of the home that has the best pictures. Not clever.
So what Advanced services should the informed buyer look for? The following are suggestions that I know have helped my clients make a better purchasing decision:
1. Familiarity with local lenders. Find an agent who has several "go-to" lenders. Lenders ALL want ANY business, but frankly, most lenders have special areas of expertise and areas that they aren't quite up-to-date on. Your agent should be able to lead you to a lender with special knowledge in your loan type. Your agent will know which lenders provide good service and communication, and which lenders have historically delayed closings, sometimes causing the seller to refuse to extend the contract, which causes buyers to lose their dream home, and the money they've invested in it so far, thru no fault of their own.
2. Experience in construction or remodeling. Not every agent is a former homebuilder or remodeler, nor should they be expected to have been, but little working knowledge of the craft can be a great asset to a buyer wanting to make improvements or modifications after the fact, for instant equity. There are fabulous buys available in the market where the seller can't or won't cure functional obsolescence in a home, and the savvy buyer that negotiates a good purchase on these homes and does cure the problem is way ahead of the equity game. The agent who can help advise on what can be done, and it's approximate cost, and the value it will add to the home is worth their weight in gold. Conversely, if an agent can advise which projects will cost more than the value they add will save a buyer from a money pit.
3. Experience on BOTH sides of the transaction. Every seller has their own motivations, as does every buyer. There are a lot of agents who specialize in exclusive buyer agency or exclusively work for sellers. I think it is possible to lose sight of what might be important on the other side of the transaction, making it possible to get blind-sided in negotiations. The most powerful tool in any negotiations is the ability to see the decision from the other side.
4. Due-diligence research. Once you have made your top-pick selection, your agent should be willing to research the neighborhood of interest. Is your selection the largest house in the neighborhood, or the smallest? Where does the seller's asking price fall in the range of homes sold there? Is the tax evaluation from the Central Appraisal District out of line with the surrounding homes? When was the home last on the market? Has it sold an unusual amount of times in the past several years?
5. Willingness to advise a client. There's an undercurrent of "liability avoidance" with a lot of agents. Understandably, we can be SUED. Horror stories abound. Many agents feel it is best to NOT recommend a lender or a home inspector or a termite inspector, etc. and opt to simply hand the client a list of all possible service providers. (That way, it is the client's fault if they pick a bad one.) The service-oriented agent understands that there is also a liability in knowing that there are good ones and not-so-good ones on the "list", and opts to recommend service providers who have proven themselves worthy by past performance. The word "client" implies professional advice. Advice does not have to be dictatorial, the client can always choose an alternate course of action.
Take home message? Your choice of agent MATTERS. A LOT. Finding, interviewing and signing with an agent is the wise buyers' FIRST step.
It's the ADVANCED services that an agent offers that can make such a difference in a home buying experience, not only during the actual purchase transaction, but each and every year thereafter, and culminating in a more profitable transaction when it is time to SELL the house.
The time a buyer takes to interview an agent to help them is perhaps the BEST investment they can make. And it is a step that so many buyers fail to take, wanting to jump right in and search for pictures of houses online. That course of action often leads to an over-excited call to the listing agent (who represents the seller) of the home that has the best pictures. Not clever.
So what Advanced services should the informed buyer look for? The following are suggestions that I know have helped my clients make a better purchasing decision:
1. Familiarity with local lenders. Find an agent who has several "go-to" lenders. Lenders ALL want ANY business, but frankly, most lenders have special areas of expertise and areas that they aren't quite up-to-date on. Your agent should be able to lead you to a lender with special knowledge in your loan type. Your agent will know which lenders provide good service and communication, and which lenders have historically delayed closings, sometimes causing the seller to refuse to extend the contract, which causes buyers to lose their dream home, and the money they've invested in it so far, thru no fault of their own.
2. Experience in construction or remodeling. Not every agent is a former homebuilder or remodeler, nor should they be expected to have been, but little working knowledge of the craft can be a great asset to a buyer wanting to make improvements or modifications after the fact, for instant equity. There are fabulous buys available in the market where the seller can't or won't cure functional obsolescence in a home, and the savvy buyer that negotiates a good purchase on these homes and does cure the problem is way ahead of the equity game. The agent who can help advise on what can be done, and it's approximate cost, and the value it will add to the home is worth their weight in gold. Conversely, if an agent can advise which projects will cost more than the value they add will save a buyer from a money pit.
3. Experience on BOTH sides of the transaction. Every seller has their own motivations, as does every buyer. There are a lot of agents who specialize in exclusive buyer agency or exclusively work for sellers. I think it is possible to lose sight of what might be important on the other side of the transaction, making it possible to get blind-sided in negotiations. The most powerful tool in any negotiations is the ability to see the decision from the other side.
4. Due-diligence research. Once you have made your top-pick selection, your agent should be willing to research the neighborhood of interest. Is your selection the largest house in the neighborhood, or the smallest? Where does the seller's asking price fall in the range of homes sold there? Is the tax evaluation from the Central Appraisal District out of line with the surrounding homes? When was the home last on the market? Has it sold an unusual amount of times in the past several years?
5. Willingness to advise a client. There's an undercurrent of "liability avoidance" with a lot of agents. Understandably, we can be SUED. Horror stories abound. Many agents feel it is best to NOT recommend a lender or a home inspector or a termite inspector, etc. and opt to simply hand the client a list of all possible service providers. (That way, it is the client's fault if they pick a bad one.) The service-oriented agent understands that there is also a liability in knowing that there are good ones and not-so-good ones on the "list", and opts to recommend service providers who have proven themselves worthy by past performance. The word "client" implies professional advice. Advice does not have to be dictatorial, the client can always choose an alternate course of action.
Take home message? Your choice of agent MATTERS. A LOT. Finding, interviewing and signing with an agent is the wise buyers' FIRST step.
Remodeling Your Home may be a HUGE Financial Mistake!
RE-MODEL or RE-BUY? Which is the right move for me?
That’s a great question! The answer that is right for your home, your family and your situation may be different than the right answer for your friends, family and neighbors.
IN GENERAL, the following questions are vital to the decision process:
Are you 100% happy with your home except for the ONE thing you want to upgrade?
Have your family’s needs for the rest of the house changed since you purchased?
Do you anticipate your family’s need changing (more people, less people?) in the next 3 years?
Are you becoming concerned about growing maintenance issues in the rest of your home?
Will you live there long enough to recoup your costs?
Will the completed remodel over-value your home for it‘s location, age, size and condition?
Are you trying to increase the SIZE of your home?
Is your current mortgage interest rate at 6% or more?
I am uniquely qualified to assist you in your decision!
As a former homebuilder (Valiant Custom Homes),
and a former remodeled (Residential Makeovers),
and a CURRENT Real Estate Broker,
I can help you with my free and confidential Remodel Cost/Benefit Study to help you determine the intricacies of your own unique situation. There is no obligation whatsoever, just call me and make an appointment for a time convenient to you, evenings and weekends are ok!
Mickey Lackey
REALTOR
BROKER ASSOCIATE
Keller Williams REALTY - Abilene
325-665-5939
That’s a great question! The answer that is right for your home, your family and your situation may be different than the right answer for your friends, family and neighbors.
IN GENERAL, the following questions are vital to the decision process:
Are you 100% happy with your home except for the ONE thing you want to upgrade?
Have your family’s needs for the rest of the house changed since you purchased?
Do you anticipate your family’s need changing (more people, less people?) in the next 3 years?
Are you becoming concerned about growing maintenance issues in the rest of your home?
Will you live there long enough to recoup your costs?
Will the completed remodel over-value your home for it‘s location, age, size and condition?
Are you trying to increase the SIZE of your home?
Is your current mortgage interest rate at 6% or more?
I am uniquely qualified to assist you in your decision!
As a former homebuilder (Valiant Custom Homes),
and a former remodeled (Residential Makeovers),
and a CURRENT Real Estate Broker,
I can help you with my free and confidential Remodel Cost/Benefit Study to help you determine the intricacies of your own unique situation. There is no obligation whatsoever, just call me and make an appointment for a time convenient to you, evenings and weekends are ok!
Mickey Lackey
REALTOR
BROKER ASSOCIATE
Keller Williams REALTY - Abilene
325-665-5939
New Listing on Abilene Housing Market
Never before offered for sale, this one-owner custom home built in 2003 will be held open for viewing Sunday, November 13 from 1 to 5 PM.
7910 Starlight Drive features three split bedrooms in Wylie Schools. With it's open roomy floor plan, the columned formal dining at the front of the home balances the corner fireplace at the rear of the great room. The secluded master suite is roomy, and the master bath sports a jetted tub and a separate shower. The ceiling treatment is a stunning recessed cloverleaf, that glows with back-lighting for an awesome effect.
The kitchen is a flow-thru arrangement with smooth surface range, built in microwave and a breakfast bar and load of storage with its deep drawers and pantry.
Enjoy the covered patio in the privately fenced back yard, while the storage building hides all your "stuff". The storage building is insulated and the window unit will keep you cool all summer while working away at your favorite workshop hobbies.
Come see the home this weekend and meet Mickey Lackey. (She'll be baking bread)
www.KeyToAbileneHomes.com
325-665-5939
7910 Starlight Drive features three split bedrooms in Wylie Schools. With it's open roomy floor plan, the columned formal dining at the front of the home balances the corner fireplace at the rear of the great room. The secluded master suite is roomy, and the master bath sports a jetted tub and a separate shower. The ceiling treatment is a stunning recessed cloverleaf, that glows with back-lighting for an awesome effect.
The kitchen is a flow-thru arrangement with smooth surface range, built in microwave and a breakfast bar and load of storage with its deep drawers and pantry.
Enjoy the covered patio in the privately fenced back yard, while the storage building hides all your "stuff". The storage building is insulated and the window unit will keep you cool all summer while working away at your favorite workshop hobbies.
Come see the home this weekend and meet Mickey Lackey. (She'll be baking bread)
www.KeyToAbileneHomes.com
325-665-5939
$100 down homes!
HUD has approved (for the term of one year) a downpayment of $100 for FHA-Approved HUD homes for owner/occupants. Yes, that means that if you promise to live there, you can buy a home for $100 down, if the home qualifies under the FHA lending guidelines. These would be homes that have been foreclosed on, and most probably need some work.
It is a tremendous opportunity for folks on the edge of their ability to take the BIG step from renting to owning. The ability to buy a home, live in it, improve it, gain equity in it and eventually own it will allow a lot of struggling families to get their first strong foothold to the next economic level. For this reason, I am pleased to see it.
I wonder, though, how many will take advantage of the opportunity for the short run instead of a long term project, or have need to sell in a short time and find themselves upside down in the home, spurring yet another round of foreclosures.
What are YOUR thoughts?
It is a tremendous opportunity for folks on the edge of their ability to take the BIG step from renting to owning. The ability to buy a home, live in it, improve it, gain equity in it and eventually own it will allow a lot of struggling families to get their first strong foothold to the next economic level. For this reason, I am pleased to see it.
I wonder, though, how many will take advantage of the opportunity for the short run instead of a long term project, or have need to sell in a short time and find themselves upside down in the home, spurring yet another round of foreclosures.
What are YOUR thoughts?
Refinancing Your Mortgage may NOT be the thing-to-do!
For those homeowners sitting on top of a 7%+ mortgage that was a pretty good deal not too many years ago, the first and only option you might have considered is refinancing your home. If everything else is equal and stable, it is the thing to do. I did it. I dropped $40 a month AND 15 years from my payment. It is the route I chose to go because I love my house, my needs have not changed since I bought it, and are not likely to change over the next five years. There were costs involved, of course. For my needs, it was well worth it.
It may not be the right thing for others, and here's why.
You are essentially re-purchasing your home. Therefore, you have closing costs, appraisal, prepaid interest, bank fees and escrows to pay, just as if you were purchasing a new home. Granted, you don't have to move.
But there is the point of my thinking on this subject. WOULD you buy the home you are in NOW, if you were buying a home - now? If the answer is no, refinancing is a complete waste of money.
Ask yourself these questions:
Is your home now too small, or too large for your current and foreseeable needs?
Is maintenance becoming an issue?
Do you see your family size growing or shrinking in the next five years?
Are you still thrilled with the location of your house?
Did your work address change, causing a longer commute than you used to have?
Would you rather have some more up-to-date features and appliances?
Go a little newer, or brand new, custom built, for that matter?
When you look at the suitability and functionality of your current home, and realize that you could buy nearly twice the home for the exact same payment, would you buy the one you are in? Would you like to see some homes that you could currently buy for the same payment? Do you need some help with the real estate math?
As always, if you'd like to look at real numbers and have me give you information specific to your particular situation, call me NOW (325) 665-5939. I'll analyze your current equity position and payments, and show you the costs and the savings involved. Maybe even show you some alternate homes... always no pressure, no obligation, free information is power.
If you do decide to stay put, ask me to recommend a local lender for your refinance!
Mickey Lackey
My Personal Website
325-665-5939
Email me
It may not be the right thing for others, and here's why.
You are essentially re-purchasing your home. Therefore, you have closing costs, appraisal, prepaid interest, bank fees and escrows to pay, just as if you were purchasing a new home. Granted, you don't have to move.
But there is the point of my thinking on this subject. WOULD you buy the home you are in NOW, if you were buying a home - now? If the answer is no, refinancing is a complete waste of money.
Ask yourself these questions:
Is your home now too small, or too large for your current and foreseeable needs?
Is maintenance becoming an issue?
Do you see your family size growing or shrinking in the next five years?
Are you still thrilled with the location of your house?
Did your work address change, causing a longer commute than you used to have?
Would you rather have some more up-to-date features and appliances?
Go a little newer, or brand new, custom built, for that matter?
When you look at the suitability and functionality of your current home, and realize that you could buy nearly twice the home for the exact same payment, would you buy the one you are in? Would you like to see some homes that you could currently buy for the same payment? Do you need some help with the real estate math?
As always, if you'd like to look at real numbers and have me give you information specific to your particular situation, call me NOW (325) 665-5939. I'll analyze your current equity position and payments, and show you the costs and the savings involved. Maybe even show you some alternate homes... always no pressure, no obligation, free information is power.
If you do decide to stay put, ask me to recommend a local lender for your refinance!
Mickey Lackey
My Personal Website
325-665-5939
Email me
Hey Abilene, Your Market is UP!
I've just logged an interesting phenomenon! Our Abilene real estate market usually peaks in the summer and starts dipping dramatically as soon as school starts, both in terms of units (most of us call them "homes") sold, and average price.
NOT THIS YEAR! Data pulled from our Multiple Listing service for Abilene shows that :
from August 15 to September 15 there were 91 units sold for an average of $128,000
from September 15 to October 15, there were 97 units sold for an average of $130,000!
This unusual rise in price and number bears watching. And you know, I'm on it.
My Website:
NOT THIS YEAR! Data pulled from our Multiple Listing service for Abilene shows that :
from August 15 to September 15 there were 91 units sold for an average of $128,000
from September 15 to October 15, there were 97 units sold for an average of $130,000!
This unusual rise in price and number bears watching. And you know, I'm on it.
My Website: