Category Archives: Working with a Realtor

Benefits of Selling a House in the Winter

Motivated buyers: 

While more buyers are looking in the spring and summer months, the buyers actively shopping for a new home in the winter are likely very motivated — often moving because of a job relocation, change in financial situation, or change in family needs.

Less seller competition:

With fewer homes on the market in winter, there’s less competition from other sellers, and a limited inventory for buyers.

 More time off work:

People tend to take time off work during the winter, and three-day weekends like MLK Day and Presidents Day can be popular home shopping days. As a seller, it also means more options for showings and open houses!

More attention from agents: 

When agents have fewer listings, sellers receive more of their undivided attention. The same goes for buyers’ agents — they have more time to arrange showings and negotiate deals.

 Tax benefits: 

Buyers looking to purchase homes before the end of the year for tax purposes find December listings ideal.

 

Article source: Zillow.com

Millions of Consumers Getting a Credit Score Boost

An overhaul in how several major credit reporting agencies factor in negative credit information is prompting millions of consumers’ credit scores to rise. Collection events were struck from 8 million consumers’ credit reports in the 12 months ending in June. The New York Federal Reserve reported Tuesday that consumers who had at least one collections account removed from their credit reports are seeing an 11-point increase to their scores.

Critics have long claimed such dings to scores are prone to errors or that they’ve unfairly kept many out of the borrowing market. Equifax, Experian PLC, and TransUnion have all agreed to revamp reports, which stems from a 2015 settlement with state attorneys general on the matter. In the settlement, the firms agreed to remove some non-loan related items that were sent to collection firms, such as gym memberships, library fines, and traffic tickets. They also agreed to strike medical-debt collections that have been paid by a patient’s insurance company.

The majority of consumers who benefited from the recent changes are those who had credit scores below 660 before the collection events were removed, according to the New York Fed.

This could be good news for potential home buyers, as better credit scores are a big factor lenders use in granting cheaper rates for mortgages. And relatively small shifts in scores can make a big difference on loan affordability. A recent study from LendingTree showed that consumers who can raise their credit scores from “fair” (580-669) to “very good” (740-799) could potentially save $29,106 in mortgage costs.

Source: “Overhaul Boosts Credit Scores of Millions of U.S. Consumers,” The Wall Street Journal (Aug. 15, 2018)

7 Reasons to Work With a REALTOR®

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:

1.  An expert guide.
Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

2.  Objective information and opinions.
REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need.

3.  Property marketing power.
Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family. When a property is marketed by a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally pre-screen and accompany qualified prospects through your property.

4.  Negotiation knowledge.
There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.

5.  Up-to-date experience.
Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.

6.  Your rock during emotional moments.
A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.

7.  Ethical treatment.
Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters.