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Archive for the ‘Mortgages’ Category

What You Must Know About Home Appraisals

Understanding how appraisals work will help you achieve a quick and profitable refinance or sale. Read

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

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A small maze.

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I just read a post on Ronnie Bartles blog (http://www.bartlesandassociates.com/bartlebys-blog/2011/7/10/do-i-know-you.html) about the saga of Coco and her fiancée, first time home buyers. It made me stop and think about how things have changed over the past couple of years. Coco is not alone in her angst and customer service has all but disappeared. But there is hope!

My wife, Patricia, and I are Realtor*s and have helped a number of first time home buyers, and seasoned home buyers and sellers navigate through the real estate maze that is a fact of today’s market. We haven’t done this alone. We have a select group of service providers, that have mastered the maze, and we recommend them to our clients. As a team, we help our clients through the maze and bureaucratic red tape. No real estate transaction today is without stress, but we Team Up for Success and reduce the stress for our clients.

There should never be a reason for a home buyer to have to change agents, or home inspectors on any real estate transaction and then lose the deal after all is said an done. We cannot change the bureaucracy involved with bank owned homes, or short sales. But we can make sure that all the t’s are crossed and all the i’s are dotted. Team Up for Success is not just a slogan, it is how we approach our profession. If you have real estate needs, buying or selling, first timers or seasoned veterans, test us out! We want to Team Up for Success with you!

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Picture of the "Gingerbread House" i...

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As a real estate professional it is very easy to allow your time to be consumed by your work. Especially when working short sales…now there is an oxymoron! Short sales are a fact of life these days and for the foreseeable future. They can take an enormous amount of time to get done whether you are representing the buyer or the seller.
It can also be emotionally draining for everyone involved. It is difficult to keep in mind that it is simply business. On the sellers side, there can be the emotion of failure and with the banks asking for more and more documentation, it can feel as though someone believes you are withholding information.
On the buyers side there can be a different set of emotions. Families want to be settled in their home. As they started the process, they heard 45-60 days at least, but wanted 30-45 days. The agent has to keep in constant communications with them to help them to see that there is light at the tunnel.
Dealing with clients and banks in short sales make controlling your schedule a challenge.  This week we are taking a time-out on the IOP at Palm Seasons. Great weather! Great friends! And an absolutely great family!

Sometimes you just need a time-out!

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Is that a question you’ve asked your real estate agent? It is one that seems is being asked more and more these days. While there are many factors that go into the answer to that question, one reason that is the most frequent reason is the listing price. How is the listing price of your home so important in getting your home sold within 90 days?

What is your house worth to a buyer?

Your goal is to sell your home for the best price in the shortest time. That is also the goal of your real estate agent since your agent only gets paid when your home sells. That poses a very delicate balancing act. What is the best price to get your home sold in 90 days? What relationship does that price have with what you paid for your home, or more importantly, what you owe on your mortgage? As a homeowner, these  are important factors to you, but a potential buyer is not interested in what you paid for your house and what you owe on your house! To a potential buyer the only thing that is relevent is what is your house worth in this market. Isn’t that what was important to you when you bought your house?

When your home is listed, the first two weeks tell the tale of list price. If your house is shown often during that time you are probably in the right price range of comparable homes. If you haven’t received an offer, your list price could be high. If your house has only a few showings in the first two weeks that is a clear indicator that you need to take immediate pricing action to get in the range price of comparable homes in the area. If you do not act immediately another reason comes into play. What’s that?

If you’ve listed your house at a price that is above the selling price of houses that are comparable to yours and you aren’t getting showings within the first two weeks of listing your house, your house will be ‘old’ in the minds of buyers. Even worst, buyers might feel that it would be difficult to negotiate a deal on your house because the listing price is above the market. That puts you in a difficult position. By the time you lower the price to where the market was, you’ll find that the market has changed. You end up chasing the market and your house has lost its luster. Some agents may tell you that the price reduction will cause your house to show up on the MLS hot sheet notifying all local agents of the price reduction. But remember, these agents saw the first listing with a price that was above market. And there are newer listings that their clients might want to see!

Avoid the hassle! Selling your house is a business transaction and there is little room for emotion. What ever your reason for selling your house your goal is to sell it at the best price (fair market value) in the shortest time possible! While you cannot do this with price alone, one thing is sure: If you price above the market you will not sell your house in the shortest time possible.

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Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

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A lovely part of the Charleston Coast.

 

It has been a difficult time for the past several years for the economy in general. However, real estate seems to be at the center of the doom and gloom, and real estate agents have suffered as much as anyone during this economic down turn. Almost as much as the home owners they represent.

A number of agents have left the business. Many got into the business because they saw it as a way to make lots of money…They were wrong! Others got into the business because it appeared glamorous. They saw successful agents driving expensive cars and enjoying the finer things without, from their view, too much effort…They were wrong! It wasn’t a profession to them, just a job that they thought paid lots of money.

Patricia and I got into real estate with our eyes wide open. We understood that Realtors® are professionals in a field that is very complex and changing every day.  In our careers in the corporate world, we had over 20 personal real estate transactions where we were represented by professional Realtors®. Our NJ Realtor® handled most of our transactions, and referred us to other professional Realtors® in Ponte Vedra, FL and Atlanta, GA. We learned about how much work professional Realtors® take on in behalf of their clients.

Patricia was first to become a Realtor® and I followed her several months (OK, 2 years) later. Why did we do it? We wanted to help people by following the example of our Realtors®. They provided real service to us and that’s what we do for our clients. Our personal experiences taught us that there are many, many things to follow-up on to complete a transaction. From the negotiations on sales price, through inspections, and following up on deadlines and mortgages, a professional Realtor® makes it light work for their clients. We do that for ours.

We love helping people. We love our profession as Realtors®. If you are interested in buying or selling on the Charleston Coast, contact me at Mark@MarkandPatriciaFuchs.com, or Patricia at Patricia@MarkandPatriciaFuchs.com.  As part of Dunes Properties of Charleston, Nobody Knows the Charleston Coast Better.        

      

 

Professional Realtors® serving the Charleston Coast.

 

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There’s a flavor on every block.

I remember my first visit to a Baskin-Robbins Ice Cream store when I was a child. There were more flavors than I had ever seen before! How could I decide which was best? I was used to vanilla, chocolate and strawberry, but now there was mango, peach, caramel and cream, and about 27 other flavors to choose from. What was I to do?

Today’s real estate market is kind of like that. There are so many homes and neighborhoods available at great prices. How can a person decide on what to choose? If you are in the market for a new home, how can you avoid being mesmerized by the 33 flavors of homes available to you? Before you start looking, know what you need! Answer some questions before you go. The first answer you need is to the question of what you can afford.

Here are a few others to consider:

  • How big of a home do we need?
    • Will three bedrooms and two bathrooms work? Or do we need more?
    • How many square feet of air conditioned space do we need?
  • What size lot do we need?
    • Do we want a large lot?
    • Are we interested in a small lot?
    • How much yard work am I willing to do?
  • Are we interested in a townhome or condominium?
  • What schools are nearby?

Once you’ve established your needs and balanced them with your wants, your Realtor® can focus the search on that target. Your Realtor® will preview a selected group of homes before spending your time in actually visiting everything in the mix. You should be able to find your home within 5 to 10 homes that you visit.

Remember Baskin – Robbins? I got sick sampling as many flavors as I could. My stomach hurt and I never bought one scoop. Avoid the stomachache in your search by knowing what you want before you go to market.

Patricia and Mark Fuchs can help you find the flavor you want most. Call 843-425-0953 for Patricia or 843-364-9509 for Mark.

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