Colorado Springs Area Real Estate
Colorado Springs property is some of the best property in the state of Colorado. You should be able to find that perfect mountain property or other great property rather you are buying or renting a home in Colorado Springs. If you are considering a move to another state, you will want to take more than one look at this fantastic area.
When you come to visit the homes and get to know the city, you will realize that Colorado Springs has so much to offer you and that the land is just breath taking. No one ever really gets accustomed to the view it is great. Everyone would be envious of your Colorado estate even if you were on a tight budget just because of what you can see when you look out your windows. Dont worry about your budget, because there is something for everyone in Colorado Springs. From the small one bedroom homes, to the multiple story condos, townhouses and even five bedroom homes, you can find it all in Colorado Springs.
When it comes to the value of Colorado Springs homes, you will be able to find anything in any price range and with high value. The properties range from 30,000-4,000,000. Therefore, as for class, Colorado Springs is for anyone, and you can find the house that will fit your budget, your family and your dreams. You should be able to fit right into Colorado Springs no matter what class you are from and you will benefit greatly from the Colorado Spring area.
Colorado Spring realty businesses make sure that they price their homes fairly for both the seller and the buyer so that both parties can be happy with the final sell. Thats why it is so great to buy a home for investment purposes. Investments in the Colorado Springs real estate is a good move because you know that you will be able to buy for the lowest prices and then you can always ask for something higher when you sell it. In fact, most of the time people will purchase a house in Colorado Springs and live there for maybe a couple years or not live there at all but do some upkeep on their investment and sell it for way more than what they bought because the market value increases daily. Colorado Springs land is worth more than almost any other area in the United States.
The tourist attraction and the number of visitors that go to Colorado Springs each year makes sure that the value goes up. For those who know their stuff about real estate, the more the area is visited by tourists and the more attractions that are offered, the better the investment. Its literally a real estate hot spring. The land that for sale in the Colorado Springs area is good to build anything on and can be used for building a home or ranch. A family type of life is what you will experience in this area, where people come to really experience life.
If you are thinking about Colorado Springs relocation, you are on the right track to a good investment. The atmosphere is very friendly and everyone is considered the best type of neighbor. If you are planning on relocating to Colorado Springs you will want to know a little bit of the citys history. Well it was first found in 1871 and has become the second-largest city in Colorado. Although the city has changed a lot from being a small, Victorian spa to a huge, sophisticated city, Colorado Springs has still managed to keep its small town feel. While every town has a bit of history, you can also find there are many types of developments and houses being built all the time. The economy is strong, and jobs are to be found in this area.
It is also one of the most famous places to vacation. In fact, over six million people visit the area per year. Its amazing that the town can stay so caring knowing that most people are only coming and going. One of the most famous tourist sites in the world is located only six miles from Colorado Springs. When you move to Colorado Springs, you became part of the town and also a part of the history as many people come to live, fulfill their career, ski, and farm. Practically everyone in the area has gone to Pikes Peak which is a site that you will have to visit when you are visiting or if you are going to live here. Pikes Peak is the gateway to all outdoor adventures found in Colorado. In fact, it is the most commonly visited mountain in the world. Tourists bring money and jobs to this region so if you want to start a business, you can do that in Colorado Springs as well.
Homes that are located in Colorado Springs can be some of the nicest homes in the state, but you should make sure that you get a good realtor in Colorado Springs. This is important because getting the financial details straight can be mind-blowing. A good local Colorado Springs Real estate will show you the best homes in Colorado Springs.
Many times the realtors will show you the Colorado Springs MLS, which contains multiple listings from multiple banks or sellers so that you are able to find your dream hom-e in Colorado Springs. This is an area you will want to live, explore, and raise your family for years to come. Real Estate agents in Colorado Springs are well acquainted with the area and should be able to tell you some tricks to find the best type of foods or where you can save the most money shopping, or where you can find the best nightclubs. They will inform you about the area and of what to expect with your relocation, how much services cost locally and you can find out information if you have any special needs or requirements. You will also be happy to know that your real estate agent will take of you and your every need. They will make sure that you make your transition as smooth as possible and without too many concerns or stressful times. They will try to get you the best deals for property and for any property that you are selling. The Springs is a great place to live because it is family friendly and even works for those who love the single life. Rather you have a family or are as single as they come, you will love the environment and atmosphere of Colorado Springs. Look for a home that you can grow into, one that has three or four bedrooms, so you can build a family, throw parties and have a great time living in Colorado.
Colorado Springs mountain property is some of the best property that you will find. If you live in an area where there are not mountains now, you will be excited about what you will find, see, and what you can do in this region. It is great for those who want to build a ranch or simply just be located out of the city and away from others. Mountain property can also be a great investment because everyone wants to be left alone and escape their work world when they come home. By owning mountain property, you should be able to easily cash in the investment and turn your mountain property into cold hard cash. Most mountain properties do not stay on the market for too long, thats why you should try to snatch it up before anyone else is given the chance. Even if you are selling property by owner, you will be able to sell the house quickly and be able to invest in more Colorado real estate quickly. Real estate values are going to rise, as properties become more scarce, if you want to move, you can do it all with the help of a real estate agent who will provide you the best information about areas you can live.
Colorado Real Estate The Rocky Mountains
Colorado is the land of the Rocky Mountains and all that comes with it. Located in the foothills, Denver is the central location for Colorado real estate.
Colorado
A state dominated by mountains, Colorado is a popular relocation spot for outdoors enthusiasts. The state offers skiing, hiking, rock climbing, fishing, camping and other activities in the mountains in combination with big city sophistication in Denver. A beautiful state, Colorado experiences the full effect of the four season of spring, summer, fall and winter.
Denver
Located in the foothills of the Rocky Mountains, Denver is a modern metropolis and is growing. Undergoing serious redevelopment, Denver has sprouted a new sophistication with a lively night scene, strong cultural feel and big city sports teams. With a population approaching two million, the Mile High City is experiencing significant growth and is starting to experience the negative aspects of too many people. Still, there are plenty of jobs and the city is a great launching point for experiencing the surrounding mountains.
Boulder
Home to the University of Colorado, Boulder is a classic little college town in both atmosphere and appearance. The town is such a pleasant place to live, many have tried to relocate there causing high real estate prices. With the liberal attitude typical of a college town, Boulder is pricey but an absolutely great place to live.
Steamboat Springs
One of many ski resort areas in Colorado, Steamboat Springs is a personal favorite. Originally a ranching town, Steamboat Springs has a definite western atmosphere complete with Cowboy poetry readings and so on. Sitting in a small prairie and surrounded by sweeping valleys, the area is visually stunning in the winter. In summer, flowers bloom and hiking, mountain biking, camping, fishing, bird watching and practically any outdoor activities are readily available. An absolutely great place to live.
Colorado Real Estate
Colorado is one of the more popular relocation destinations in the United States. Californians, in particular, seem to be flocking to the state to escape the crowds and outrageous costs of living in California. One of the keys to getting a good deal in Colorado is to look just outside of centralized locations. You can easily find real estate at a thirty or forty percent discount as little as five miles out of town.
Colorado real estate prices are highly dependent on the location. Denver is reasonable with prices averaging 325,000 for a single-family residence, while the same home in Boulder will cost you an additional 200,000. Move up into the mountains and you can expect prices to do the same.
The Colorado real estate marketing is currently undergoing a bit of a consolidation process. For 2005, appreciation rates have been a relatively low six percent on average.
Choosing a Real Estate Agent
The ideal agent is not always the one with the most sales under his or her belt, or the most years on the job. The ideal agent is one who listens to you, is easy to get along with, and has the tools and skills to address your unique situation.
Every home buyer is different. Some have credit issues. Some are buying from out of state. Some need help selling their current home in addition to buying a new one. Just as buyers have different needs, real estate agents have different skills and specialties.
Here’s how to find the agent who’s right for you:
1. Ask friends and family for agent referrals.
Nobody knows you as well as your friends and family do. So they’re often in the best position to recommend an agent who is well-suited for your needs. You can also trust a referral from friends or family more than one that comes from a stranger.
2. Talk to multiple agents.
I once saw a statistic that 84% of home buyers choose the first real estate agent they contact. This means one of two things. Either most people are choosing wisely the first time, or they’re just rushing into things without shopping around. Probably a little of both.
You don’t have to exhaust yourself interviewing agent after agent, but at least talk with two or three to see who you’re most comfortable with (which leads to the next point).
3. Consider the vibe factor.
Professional expertise is an important criterion when choosing a real estate agent. But interpersonal skills are equally important. After all, you’ll be working with this person anywhere from 2 to 12 months, so it helps to get along with them. We all have unique personalities, and that’s the way it should be. But when working with someone professionally, if helps if their personality “meshes” well with your own.
4. Ask how they hunt.
When deciding on a real estate agent, ask how they search for homes. Some agents have their own preferred listings that they favor. But you want what’s best for you, not what’s best for your agent. You’re paying them, right? So make sure the agent is willing to search high and low to find the best home for you. That includes using the Multiple Listing Service (MLS) as well as their own personal network.
5. Read paperwork carefully.
This advice is heavily used for a reason. It’s critical that you examine all documents during the home buying process, and that includes your agent agreement. At some point during the relationship, your agent will probably ask you to sign an agent agreement. Basically, it just means that if the agent shows you a particular property, your purchase of the property should be credited to that agent. In most cases it’s a simple, standard document just be sure to read it carefully and ask questions.
Changes afoot in the broader real estate market
It’s finally happening. The recent repeated warnings of economists and industry watchers predicted the housing boom of the 2000s is winding down. The recent news is full of reports about slowing existing home sales, rising inventories, longer selling cycles and lower asking prices.
So if the housing market finally appears to be cooling down, commercial real estate investors should take notice. Heres why: There’s a strong connection between the residential boom and the health of the four key commercial sectors retail, multifamily, office and industrial. Soaring home prices and low interest rates have enabled millions of homeowners to take out home equity loans and cash-out refinancing and the resulting wealth effect has percolated through the economy.
The big beneficiary was retail real estate, where owners of malls and shopping centers have seen valuations skyrocket, along with retail receipts. The boom also has helped drive growth in industrial construction, particularly on the West Coast, to handle incoming Chinese goods. It has also bolstered office occupancies in hot residential markets as the mortgage business expanded. Finally, the housing boom has whipsawed multifamily properties, first crushing occupancy rates as renters became owners and more recently boosting occupancy rates as the condo craze cull units from the rental inventory.
Changes are afoot. Existing home sales plummeted 2.7% last month more than double the 1.1% that analysts predicted in September and 2.87 million unsold homes are now on the market (which represents the largest unsold inventory since 1986, reports the National Association of Realtors). Even David Lereah, the chief economist at the National Association of Realtors (NAR), stated recently that the housing sector has passed its peak.
With home-equity cash running dry, homeowners will reign in retail spending next year.
This could materially impact retail REITs, particularly those with large holdings in pricey markets such as Southern California and the Northeastern cities. According to PricewaterhouseCoopers most recent Emerging Trends In Real Estate 2006 report, the only factor that will keep consumer spending afloat are wage increases. However, energy costs and rising mortgage rates could zip pocketbooks. Retail has all the risk.
After retail, multifamily is the most directly affected sector in the housing slowdown. And, in this case, the news could be good. With apartments dropping out of the rental pool and more renters priced out of the purchase market, national apartment vacancies dropped from 6.4% to 5.8% between midyear and the end of September, the largest quarterly drop that Manhattan-based Reis Inc. has measured since it began tracking the apartment market in 1999.
There is one caveat, however: Overhanging the rental market is a potential glut of condos. If converters fail to sell recently converted condominium units and throw them back into the rental market, occupancy rates could fall again.
A housing slowdown could also ripple through pockets of the office market, especially those where residential mortgage firms have aggressively staffed up in recent years. No market exemplifies this trend better than Orange County, Calif., where heated demand to buy homes and refinance existing loans has fueled a leasing binge on behalf of these firms.
This wont help, either. Roughly 37% of all recent homebuyers in Orange County are using interest-only mortgages (requiring the first few years of the mortgage to be just interest payments). Orange County is the third most expensive housing market in the country after Los Angeles and San Diego, so its obvious why so many new owners are resorting to creative financing methods.
Much like the office market, the industrial market is also exposed to ripple effects from a housing slowdown. The difference here is that any negative effects will be delayed for several months because the industrial market tends to move at a much slower pace than its peers. To Bob Bach, national director of research at Grubb & Ellis, the industrial market is possibly the least exposed property class for one simple reason imports.
Of course, the biggest threat to commercial real estate would be a national recession, sparked by a slowdown in retail sales (consumer spending now accounts for roughly 72% of GDP). The gloom scenario is a downward spiral. Consumer spending falters because the cash-out boom ends and the situation is made worse by rising fuel prices and higher interest rates on all consumer debt. That triggers falling profits, layoffs, deeper cutbacks in consumer spending
That suggests parallels to the dot.com bust an economic watershed that the real estate industry misjudged.
On the other hand, the housing market is not the same as the equities marketfor all the paper gains and stories of speculation, residential housing is illiquid and most homeowners are invested in keeping a roof over their heads. Indeed, the other news has been a surging stock market, strong durable goods orders and a rebound in consumer confidence. Stay tuned for the next NAR home sales report.
Good luck to you,
Burbank California Real Estate
Burbank, California, is located in Los Angeles County, and is nine miles north of Los Angeles, California. Burbank has a population of 100,316. Among its residents are those who work in the media and entertainment field. NBC, Warner Studios, and Disney Entertainment call Burbank their home. The city is served by Burbank International Airport.
Burbanks homes consist of luxury homes in the hills, and single and multi-family homes throughout the city. Its sunny weather, prosperous economy, relative safety, and consistently high-ranking schools make Burbank a popular place to live, especially with families and those in media and entertainment.
Burbank properties pool is 41,608 residential properties including Burbank new homes. The median age of real estate in Burbank is 1956. The average household size is 3.14 people. 7% are one bedroom homes, 39% are 2 bedroom homes, 42% are 3 bedroom homes, 10% are 4 bedroom homes, and 2% are 5+ bedroom homes.
Homes With No Mortgage – 26%
Homes With Mortgage – 74%
First Mortgage Only – 56%
First & Second Mortgage or HELOC – 18%
Burbank Real estate Tax: Median Real Estate Taxes (2000) were 1,640 comparing to 1999 Median Family income 56,767. Compare to USA median yearly Real Estate Tax 1,300 and USA median Family Income 42,000 (1999).
Burbank School District: The Burbank School District consistently rate as one of the most successful in the County. Parents are keen to purchase homes here in order to send their children to the highly successful District.
Children make up 22.3% of Burbank population. Burbank has 22,337 under 18 years old residents, or 0.46 kids per one worker, or 0.54 kids per one household.
Burbank Real Estate & Burbank Homeownership
There are 14146.72 or 34% one person households, 12482.4 or 30% two person households, and 6241.2 or 15% three person households in Burbank, California. Median residents age is 36.4, Senior citizens (65+) make up 12,859 or 12.8%% of Burbank population.
There are 48,430 workers (over 16 years of age) in Burbank. Of these, 89.33% drive to work. Approximately 2.56% of workers in Burbank take public transportation, reflecting the areas over reliance on cars. An estimated 2.75% walk to work.
Median Burbank homeowner’s housing expenses are 22.4%
Crime in Burbank (2003), crimes per 10,000 residents per year
Violent Crimes – 28.21
Robberies – 6.88
Aggravated Assaults – 19.54
Property Crimes – 268.55
Burglaries – 49.84
Larceny-Thefts – 172.26
Motor Vehicle Thefts – 46.45
When making a decision about buying real estate in Burbank California area, many factors should be considered, along with the following statistical data:
Near Medium City -
Near Large City – Los Angeles, California
Burbank Zip Codes – 91501, 91502, 91504, 91505, 91506
Burbank Area Codes – 818
White population – 72.18%
African-American population – 2.06%
Asian – 9.15%
American Indian & Alaskan – {-}%
Hispanic (of any race) – 24.87%
Median Family Income (1999) – 56,767%
Population Below Poverty Level – 10.45%
Britain’s Real Estate
The five ghastly “Jack the Ripper” murders took place in an area less than a quarter square mile in size. Houses in this haunting and decrepit no man’s land straddling the City and metropolitan London could be had for 25-50,000 British pounds as late as a decade ago. How things change!
The general buoyancy in real estate prices in the capital coupled with the adjacent Spitalfields urban renewal project have lifted prices. A house not 50 yards from the scene of the Ripper’s last – and most ghoulish – slaying now sells for over 1 million pounds. In central London, one bedroom apartments retail for an outlandish half a million.
According to research published in September 2002 by Halifax, the UK’s largest mortgage lender, the number of 1 million pound homes sold has doubled in 1999-2002 to 2600. By 2002, it has increased elevenfold since 1995. According to The Economist’s house price index, prices rose by a further 15.6% in 2003, 10.2% in 2004 and a whopping 147% in total since 1997. In Greater London, one in every 90 homes fetches even a higher price. The average UK house now costs 100,000 pounds. In the USA, the ratios of house prices to rents and to median income are at historic highs.
One is reminded of the Japanese boast, at the height of their realty bubble, that the grounds of the royal palace in Tokyo are worth more than the entire real estate of Manhattan. Is Britain headed the same way?
A house – much like a Big Mac – is a basket of raw materials, goods, and services. But, unlike the Big Mac – and the purchasing power index it spawned – houses are also investment vehicles and stores of value. They yield often tax exempt capital gains, rental income, or benefits from occupying them (rent payments saved). Real estate is used to hedge against inflation, save for old age, and speculate. Prices of residential and commercial property reflect scarcity, investment fads, and changing moods.
Homeowners in both the UK and the USA – spurred on by aggressive marketing and the lowest interest rates in 30 years – have been refinancing old, more expensive, mortgages and heavily borrowing against their “equity” – i.e., against the meteoric rise in the market prices of their abodes.
According to the Milken Institute in Los Angeles, asset bubbles tend to both enhance and cannibalize each other. Profits from surging tradable securities are used to buy property and drive up its values. Borrowing against residential equity fuels overvaluations in fervid stock exchanges. When one bubble bursts – the other initially benefits from an influx of funds withdrawn in panic from the shriveling alternative.
Quantitatively, a considerably larger share of the nation’s wealth is tied in real estate than in the capital markets. Yet, the infamous wealth effect – an alleged fluctuation in the will to consume as a result of changing fortunes in the stock exchange – is equally inconspicuous in the realty markets. It seems that consumption is correlated with lifelong projected earnings rather than with the state of one’s savings and investments.
This is not the only counter-intuitive finding. Asset inflation – no matter how vertiginous – rarely spills into consumer prices. The recent bubbles in Japan and the USA, for instance, coincided with a protracted period of disinflation. The bursting of bubbles does have a deflationary effect, though.
In a late 2002 survey of global house price movements, “The Economist” concluded that real estate inflation is a global phenomenon. Though Britain far outpaces the United States and Italy (65% rise since 1997), it falls behind Ireland (179%) and South Africa (195%). It is in league with Australia (with 113%) and Spain (132%).
The paper notes wryly:
“Just as with equities in the late 1990s, property bulls are now coming up with bogus arguments for why rampant house-price inflation is sure to continue. Demographic change … Physical restrictions and tough planning laws … Similar arguments were heard in Japan in the late 1980s and Germany in the early 1990s – and yet in recent years house prices in these two countries have been falling. British house prices also tumbled in the late 1980s.”
They are bound to do so again. In the long run, the rise in house prices cannot exceed the increase in disposable income. The effects of the bursting of a property bubble are invariably more pernicious and prolonged than the outcomes of a bear market in stocks. Real estate is much more leveraged. Debt levels can well exceed home equity (“negative equity”) in a downturn. Nowadays, loans are not eroded by high inflation. Adjustable rate mortgages – one third of the annual total in the USA – will make sure that the burden of real indebtedness mushrooms as interest rates rise.
The Economist (April 2005):
“An IMF study on asset bubbles estimates that 40% of housing booms are followed by housing busts, which last for an average of four years and see an average decline of roughly 30% in home values. But given how many homebuyers in booming markets seem to be basing their purchasing decisions on expectations of outsized returnsa recent survey of buyers in Los Angeles indicated that they expected their homes to increase in value by a whopping 22% a year over the next decadenasty downturns in at least some markets seem likely.”
With both the equity and realty markets in gloom, people revert to cash and bonds and save more – leading to deflation or recession or both. Japan is a prime example of such a shift of investment preferences. When prices collapse sufficiently to become attractive, investors pile back into both the capital and real estate markets. This cycle is as old and as inevitable as human greed and fear.
Arizona Real Estate – A Perfect Place For Settlement
Arizona, a large state in the Western United States, also known as Grand Canyon State, is famous for its astonishing landscapes, soaring mountain ranges, rivers, grasslands, forests and beautiful weather. Arizona valley constitutes of all these and makes it a perfect place for vacation, retirement, land investment or for permanent settlement.
Over the years, Arizona real estate has become the most sought after real estate in the United States. Real estate market of Arizona is huge and is one of the most commendable real estate markets in USA. The real estate in Arizona is full of luxury houses, apartments, buildings, beautiful decorated homes that draw attention not only from people of the United States but also from other countries.
For anyone planning some investment in the real estate market, Arizona real estate market is the ideal place to start. The state has witnessed record appreciation levels. Any sort of investments done in the commercial area, single-family home, rental apartment or retirement property, will be considered undoubtedly a perfect investment.
The state depicts its natural beauty through beautiful landscape, desert climes, pine covered high country and an abundance of topographical characteristics has made it a prime location in the eyes of the people seeking new homes or property. Its a visitors paradise for vacations and has, over the years, become a hot spot tourist destination.
Arizona real estate market is soaring high with its increasing population contributed by the migrating populace from different states of USA. The people of Arizona are very friendly and cooperative in nature. The state has endless choices of entertainment and amusement, including parks, forests, rivers and a colorful Grand Canyon, which is one of the seven natural wonders of the world.
Arizona is also a well-known destination among retirees and is even more popular for the custom-built homes created around resorts, spas and other epicurean areas. Apart from that, there are plenty of first-class universities and colleges in Arizona. Phoenix, the capital of Arizona, comprises of incredible natural beauty. At Arizona, real estate and homes are available at an affordable rate and as per the needs of the people. The state is also famous for some popular sports arena where baseball is the major attraction for the tourists and other visitors. Baseball fanatics find this place really attractive and hence, an ideal place to live in.
Buying and selling real estate or property is not an easy task and there is always a certain amount of risk involved in it. Thorough study and extensive research are needed before investing in real estate or property. People want experienced knowledgeable agents who have maximum information about the area and can locate a real estate property as per their needs at a price below market standards. There are many real estate businesses that you can find online and some of them specialize only in Arizona Real Estate. It is advisable that if you are planning to do real estate transactions in Arizona always look for a specialist for that area. If you are taking the advice of any Arizona real estate specialist, your land transaction is definitely going to be smooth and profitable.
Arizona Real Estate
There is quite a bit of real estate available in Arizona, because new homes are being built constantly. If youve ever been to Arizona, you may be surprised by its vast open spaces and even the new developments that spring up dont seem to take anything away from all of that wide open space. In fact, all of that beautiful space is what attracts many people to the Arizona real estate market!
Many people buy real estate from a distance, sight unseen. While this practice can be used to scam people out of their hard-earned money, if you follow certain guidelines you and your money should be relatively safe. Start by understanding what documents you should see throughout the sale process.
The first thing you should see is the MLS printout. MLS stands for Multiple Listing Service. The MLS printout is a copy of the listing that was sent out by the service. It contains a description of the property, and there may be statements made in the MLS that need to be verified for accuracy. If the property or home is in a new sub-division, you need to ask for the Public Report as well.
Other important documents that you should request include the Sellers Property Disclosure Statement (SPDS), Covenants, Conditions, & Restrictions (CC&Rs), governing documents from the Home Owners Association, HOA Disclosures, the Title Report, the Home Warranty Policy, an Affidavit of Disclosure, Lead-Based Paint Disclosure, County Assessors Records, and a Professional Home Inspection Report. Make sure that you get a copy of all of these documents, for your own protection. It is a good idea to have your lawyer look at these documents as well.
There is quite a bit of information that you need to learn about a property in the state of Arizona before making a purchase. For instance, some places in the state may be infested with scorpions, which are quite common in Arizona and are hard to get rid of. Some areas of Arizona contain soil and groundwater that has been contaminated by improper disposal methods. All of this information can be found at the Arizona Department of Real
Estate (http:www.re.state.az.us). You should use the various online maps that are available to stay away from less desirable properties.
Advice on Picking a Real Estate Agent
The ideal agent is not always the one with the most sales under his or her belt, or the most years on the job. The ideal agent is one who listens to you, is easy to get along with, and has the tools and skills to address your unique situation.
Every home buyer is different. Some have credit issues. Some are buying from out of state. Some need help selling their current home in addition to buying a new one. Just as buyers have different needs, real estate agents have different skills and specialties.
Here’s how to find the agent who’s right for you:
1. Ask friends and family for agent referrals.
Nobody knows you as well as your friends and family do. So they’re often in the best position to recommend an agent who is well-suited for your needs. You can also trust a referral from friends or family more than one that comes from a stranger.
2. Talk to multiple agents.
I once saw a statistic that 84% of home buyers choose the first real estate agent they contact. This means one of two things. Either most people are choosing wisely the first time, or they’re just rushing into things without shopping around. Probably a little of both.
You don’t have to exhaust yourself interviewing agent after agent, but at least talk with two or three to see who you’re most comfortable with (which leads to the next point).
3. Consider the vibe factor.
Professional expertise is an important criterion when choosing a real estate agent. But interpersonal skills are equally important. After all, you’ll be working with this person anywhere from 2 to 12 months, so it helps to get along with them. We all have unique personalities, and that’s the way it should be. But when working with someone professionally, if helps if their personality “meshes” well with your own.
4. Ask how they hunt.
When deciding on a real estate agent, ask how they search for homes. Some agents have their own preferred listings that they favor. But you want what’s best for you, not what’s best for your agent. You’re paying them, right? So make sure the agent is willing to search high and low to find the best home for you. That includes using the Multiple Listing Service (MLS) as well as their own personal network.
5. Read paperwork carefully.
This advice is heavily used for a reason. It’s critical that you examine all documents during the home buying process, and that includes your agent agreement. At some point during the relationship, your agent will probably ask you to sign an agent agreement. Basically, it just means that if the agent shows you a particular property, your purchase of the property should be credited to that agent. In most cases it’s a simple, just be sure to read it carefully and ask questionss.
A Positive Outlook for Real Estate
There is one word to describe the current housing market: optimistic. Despite months of hearing about a housing bubble and rising mortgage rates, the outlook for real estate is good.
The worries of a bursting real estate bubble actually seem to be low among homeowners. In a national survey conducted by ING Direct, most individuals experienced some growth in their home value in the past 12 months. The average increase was approximately 6%, with owners in New England and Pacific states having the largest growth. The values of homes in south central states remained about the same.
Most homeowners do not seem concerned about a downturn in the real estate housing market. Almost 74% of the individuals surveyed, who have owned their homes for more than three years, remained optimistic about the value of their home.
The 30-year fixed rate mortgage is at its highest point in four years. However, as it hovers at 6 percent, it is still a relatively low rate compared to the exceedingly high rates of the late 1980s when mortgage rates increased to over 10%.
According to Freddie Mac, there are indications of a strong economy, which is why mortgage rates have increased lately. Consumer confidence is on the rise and existing home sales is also on the upswing. This can be attributed to a positive labor market. As most people know, healthy employment leads to greater consumer spending.
Consumer perception is everything. With the continued view that real estate is a good investment, people will continue to buy and sell houses. This will bode well for home buyers, home sellers, real estate salespeople, mortgage lenders and just about anyone related to the real estate industry.