Click Save Mortgage Interest Deduction!
Read on to see how your voice can be heard!
Helene Kelbaugh of
EXP REALTY LLC
137 National Plaza
Ste 300
National Harbor, Md 20745-0000
443-465-8443 M
888-860-7369 O
Monday, February 27, 2012
Save Mortgage Interest Deduction
Click Save Mortgage Interest Deduction!
Read on to see how your voice can be heard!
Friday, February 24, 2012
Do I need to be pre approved first to shop for a home?
When I get a call "Hi Helene, I see a house I like! Can we see it today?" As a REALTOR I love this call!
My initial feeling is joy for the buyer as they may have found a great home!
My first response is great are you pre approved? That's when the conversation takes a turn.
It is so crucial before putting the barrel before the horse, buyers you MUST be pre approved first. There really is no exception, unless using cash.
Buyers, before burning gas and time, ask your self these questions:
*Do I know how much house I can buy? (Random online mortgage calculators don't count!)
*Do I know you what price equals as a monthly payment?
*What property tax bracket should I stay under?
*Do I qualify to get a grant?
***Most important YOU NEED IT WITH YOUR OFFER***
These are just a few items to consider!
You wouldn't make a grocery list, get dressed, drive to the store, full up your shopping cart and leave your wallet home, right?
Also, as a seller, would you want a bunch of strangers that are unqualified to buy your home walking through your house?
The house is perfect! Only to find out, you can't buy it because it's out of your range or to much work! Heartbreaking for first time buyers!
Your best bet is to start with a trusted REALTOR and discuss the home buying process.
Get preapproved! Your REALTOR may have some suggestions of lenders or you may decide to work with your bank.
Friday, February 17, 2012
Parkville Homes - Should I buy a Short Sale?
Parkville Homes - Should I buy a Short Sale?
What is a Short Sale?
A short sale means the seller owes more on the house that what it's worth and the bank is willing to accept an offer from a buyer that is less than the current amount owed. Whoa, that was a mouth full!
How do Short Sales work?
Well very similar to a traditional purchase, buyers shop with their LOCAL REALTOR to find a home to write an offer on. Write the offer with your REALTOR. It's submitted to the sellers REALTOR for review. The seller can accept, counter or reject the offer. Once seller and buyer agree to terms it becomes a contract.
This is where the deal differs from a traditional sale. This contract is submitted to the bank for third party approval. The bank(s) will review the contract. The banks can counter or reject as well. Depending upon how many mortgages, liens, tax liens, water liens, home owners/condo association fees, contractors liens, etc. how far behind the mortgage is, the amount owed, etc. are all things the bank(s) have to review before the bank will issue a third party approval. This can take 3 or more months before you get an approval.
THIS TAKES TIME! There is no rushing this process.
THE GOOD NEWS? Short Sales are way below market value, so chances are the buyer is getting a great deal.
IS A SHORT SALE WORTH IT?
Now buyers there are a few things to remember with a short sale.
1. They take a long time.
Are you in a lease situation?? Do you need to be in the home by a certain date? If so, DO NOT WRITE A OFFER ON A SHORT SALE! Unless you can make alternate living arrangements while you wait, don't do it!
2. Will the bank do repairs?
BANKS DO NOT DO REPAIRS!! Short Sales are as-is. Here is my recommendation. If you really like the house and lender required repairs come up, be prepared to have money set aside to do the repairs yourself! Be sure you have seller permission as they still legally own the property and you could be liable for any damage by contractor. Use licensed, bonded and insured contractors only!! Even with putting money into it yourself, chances are you are still getting A GOOD DEAL!
Last but not least, it's not worth lowballing a short sale! It takes so long and chances are they will counter back anyway, not worth wasting time. If you don't like the house, there are a gazillion other homes available to choose from.
NEXT STEP:
* Search for Short Sale
* Contact a LOCAL REALTOR certified to work with short sales, Certified Distressed Property Expert for an appointment, showing and more information.
Keller Williams Realty Baltimore
443-465-8443 m/t
410-246-6032 o
HeleneSellsHomes@gmail.com
REALTOR
EQUAL HOUSING OPPORTUNITY
CERTIFIED DISTRESSED PROPERTY EXPERT
What is a Short Sale?
A short sale means the seller owes more on the house that what it's worth and the bank is willing to accept an offer from a buyer that is less than the current amount owed. Whoa, that was a mouth full!
How do Short Sales work?
Well very similar to a traditional purchase, buyers shop with their LOCAL REALTOR to find a home to write an offer on. Write the offer with your REALTOR. It's submitted to the sellers REALTOR for review. The seller can accept, counter or reject the offer. Once seller and buyer agree to terms it becomes a contract.
This is where the deal differs from a traditional sale. This contract is submitted to the bank for third party approval. The bank(s) will review the contract. The banks can counter or reject as well. Depending upon how many mortgages, liens, tax liens, water liens, home owners/condo association fees, contractors liens, etc. how far behind the mortgage is, the amount owed, etc. are all things the bank(s) have to review before the bank will issue a third party approval. This can take 3 or more months before you get an approval.
THIS TAKES TIME! There is no rushing this process.
THE GOOD NEWS? Short Sales are way below market value, so chances are the buyer is getting a great deal.
IS A SHORT SALE WORTH IT?
Now buyers there are a few things to remember with a short sale.
1. They take a long time.
Are you in a lease situation?? Do you need to be in the home by a certain date? If so, DO NOT WRITE A OFFER ON A SHORT SALE! Unless you can make alternate living arrangements while you wait, don't do it!
2. Will the bank do repairs?
BANKS DO NOT DO REPAIRS!! Short Sales are as-is. Here is my recommendation. If you really like the house and lender required repairs come up, be prepared to have money set aside to do the repairs yourself! Be sure you have seller permission as they still legally own the property and you could be liable for any damage by contractor. Use licensed, bonded and insured contractors only!! Even with putting money into it yourself, chances are you are still getting A GOOD DEAL!
Last but not least, it's not worth lowballing a short sale! It takes so long and chances are they will counter back anyway, not worth wasting time. If you don't like the house, there are a gazillion other homes available to choose from.
NEXT STEP:
* Search for Short Sale
* Contact a LOCAL REALTOR certified to work with short sales, Certified Distressed Property Expert for an appointment, showing and more information.
Keller Williams Realty Baltimore
443-465-8443 m/t
410-246-6032 o
HeleneSellsHomes@gmail.com
REALTOR
EQUAL HOUSING OPPORTUNITY
CERTIFIED DISTRESSED PROPERTY EXPERT
Wednesday, February 15, 2012
Parkville Homes - Do I "Lowball" The Seller??
Parkville Homes - Do I "Lowball" The Seller?
"It's a buyers market, shouldn't I lowball the seller?"
"What difference does it make? The seller will just counter right?"
"If the seller is motivated they will give me the house at whatever price I want right?"
These are questions I hear quite frequently in this market from many buyers.
As a professional REALTOR, and someone who purchased a home before, the worst thing you can do is submit a lowball price on a home you love!
Can this "lowball" method work? Well anything can work once. But doesn't mean that it's the best way to do things.
The home buying process can be stressful and emotional. My recommedation is if you don't feel the house is worth it, don't write on it! I'm not suggesting that all sellers are reasonable with their prices. There are a few sellers who have been on the market much longer than they should be. That could be for a number of reasons, but that is another blog article so, check back for that one.
Review recent sales with your REALTOR (or check the Market Analysis) and if the house is price several thousand dollars below what other comparable homes are selling for ,considering condition and location , you stand a chance of getting a counter or even being out bid if there are multiple offers.
Find a home that you feel is worth the price, meets your needs long and short term and within your range. This is even more so in the world of short sales. Banks want to sell the home, but not give it away.
Remember, the seller DOES NOT have to counter your offer. The seller can reject the offer and not consider any further offers from you.
For first time and primary resident buyers, the house is more that just price. If it were just price any old house would with a door and 4 walls would do.
Ready to explore a purchasing a home? What's your next step?
Contact REALTOR
Search Baltimore Home
Resources:
How to Price Your Home
Buyer Help
REALTOR
EQUAL HOUSING OPPORTUNITY
BaltimoreBuyerAgent@gmail.com
443-465-8443 text/cell
410-246-6032 office
Keller Williams Realty Baltimore
"It's a buyers market, shouldn't I lowball the seller?"
"What difference does it make? The seller will just counter right?"
"If the seller is motivated they will give me the house at whatever price I want right?"
These are questions I hear quite frequently in this market from many buyers.
As a professional REALTOR, and someone who purchased a home before, the worst thing you can do is submit a lowball price on a home you love!
Can this "lowball" method work? Well anything can work once. But doesn't mean that it's the best way to do things.
The home buying process can be stressful and emotional. My recommedation is if you don't feel the house is worth it, don't write on it! I'm not suggesting that all sellers are reasonable with their prices. There are a few sellers who have been on the market much longer than they should be. That could be for a number of reasons, but that is another blog article so, check back for that one.
Review recent sales with your REALTOR (or check the Market Analysis) and if the house is price several thousand dollars below what other comparable homes are selling for ,considering condition and location , you stand a chance of getting a counter or even being out bid if there are multiple offers.
Find a home that you feel is worth the price, meets your needs long and short term and within your range. This is even more so in the world of short sales. Banks want to sell the home, but not give it away.
Remember, the seller DOES NOT have to counter your offer. The seller can reject the offer and not consider any further offers from you.
For first time and primary resident buyers, the house is more that just price. If it were just price any old house would with a door and 4 walls would do.
Ready to explore a purchasing a home? What's your next step?
Contact REALTOR
Search Baltimore Home
Resources:
How to Price Your Home
Buyer Help
REALTOR
EQUAL HOUSING OPPORTUNITY
BaltimoreBuyerAgent@gmail.com
443-465-8443 text/cell
410-246-6032 office
Keller Williams Realty Baltimore
Saturday, February 4, 2012
610 South Curley Street, Price Dropped Dramatically!
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