If you are in the market to buy a home, you probably feel like you are king. You have been told over and over again that it is a buyer’s market and the “steal of a deal” you can get.
BEWARE! Many times it’s not always readily apparent why a particular house for sale is such a steal of a deal, and as a result you can be mislead into being a difficult buyer rather than a successful one.
Here are some qualities of a successful buyer to be sure you are on track to find the right house, at the right price, at the right time:
- Provide your real estate agent complete and accurate information, whether it be financial, motivations, or time-lines. The more information they have the more they can help you.
- Set aside consistent time to learn about and to stay abreast of the market inventory. Ask your real estate professional to send you homes currently on the market and keep track what price ranges are moving and what they might be selling at. Your real estate professional can help you with statistics as well.
- Be prepared to be competitive and disciplined.
- Give serious consideration to your real estate professional’s advice. There is probably good reason you hired this professional to work on your behalf so sure before you do hire a real estate agent, make sure they know their facts about the current market.
With these few basic qualities you’ll save yourself time and money, and will not be disappointed by unmet expectations.
Happy Buying!
Filed under Buy Your Dream House, Carolina Real Estate, Hiring An Agent, Home Buyers, Lessons Learned, Market Trends by 
As you might expect, with the turbulent real estate market we’ve seen for the past 2 years and with unemployment rates at record levels, the end result is a growth in the number of foreclosed homes in the Fort Mill SC area. And even though we’ve been lucky here in the Fort Mill SC area, we’ve still seen our fair share of foreclosed properties available.
And while it’s always a sad situation when someone loses their home to foreclosure, it also presents a great opportunity for those looking to buy a house at a great price. There really are some amazing deals available for foreclosed properties right now, especially if you know where to look and how to buy them.
One of the best opportunities for buying a foreclosed house at a ‘steal of a deal’ is HUD homes, or properties that were financed via an FHA loan and then reposed. I’ve personally helped 5 people in the past 8 months purchase HUD homes and every single one of them has gotten an absolutely fantastic deal on their property.
According to the government’s website about HUD homes:
What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
So, if you’re in the market for a new home, it would definitely pay to take a look at purchasing a HUD home!
My only bit of advice would be DEFINITELY consult with an experienced real estate agent, and I don’t say that just to get you to call me (although that would be nice 
) While HUD would have you believe that buying one of their homes is an easy, painless process, it’s not. While most real estate transactions can be a stressful, frustrating experience at times, purchasing a HUD home is much worse.
You still have to go through all of the typical real estate paperwork and processes, but with a HUD home, you now have to do all of these things through a government agency, and as we all know, they aren’t always they easiest groups to work with!
Don’t let that discourage you though! Just make sure you work with an agent that has the experience and know-how to help make sure your HUD transaction goes smoothly and you’ll quickly be able to enjoy a fantastic new home at a great price!
Filed under Buy Your Dream House, Can't Miss Opportunities, Foreclosed Houses, Home Buyers by
Given the turbulent housing market this past year or so has led to an obvious increase in the number of foreclosures across the country, and even here in our backyard in Fort Mill SC and Rock Hill SC. This means an increased inventory of homes available for purchase, which in turn means lower home prices for both those buying and selling real estate.
Well, while a foreclosure is the worst possible scenario for someone that has fallen behind on their mortgage payments and it’s something you want to avoid if all possible, there are other options. One of those options is something called a ‘short sale’.
As it relates to real estate, a short sale essentially means the lender has agreed to allow the home to be sold for LESS than what is actually owed. Now, not all homes qualify for a short sale simply because not all lenders will allow the home to be sold for less than what is owed on it.
If you’re in a situation where you feel like you’re about to lose your home, investigating the possibility of selling it via a short sale might be a good option, but as with everything in life you MUST do your own due diligence.
You certainly want to consult with your accountant and an attorney familiar with real estate short sales. You’ll find a great list of steps you could expect to have to take in order to sell your home via short sale right HERE.
On the buying side, purchasing a home via a short sale is much, much less certain a process than buying an average home listed for sale. You’d be wise to consult with a qualified real estate agent that has some experience working with real estate short sales.
If you have any questions about either selling your home via a short sale or purchasing a home via a short sale, I have experience in both so please don’t hesitate to CONTACT ME.
Filed under Buy Your Dream House, Home Buyers, Home Sellers, Sell Your Home by
The following question was posed recently on a very popular real estate website:
“How do you select a real estate agent to work with? What do you base your criteria on? Referrals from friends or family members? Do you call the first name you see on a flyer? How do you decide which real estate agent to work with?”
While my response didn’t go into all the details of selecting the right agent for you, I did touch on one important element to consider for both buyer’s and seller’s of real estate. This was my response to the question:
“Fortunately for either buyers or sellers, there are LOTS of choices. Even in today’s tough market.
While there are plenty of criteria one could use to select the real estate agent they choose to work with, here is one idea for both buyers and sellers to consider when trying to find a good real estate agent:
Buyer’s Agent – A good buyer’s agent will NEVER take you see a house that doesn’t fit your criteria. They should do their homework ahead of time so as to not waster yours. Sure, every once in a while you’ll just end up driving around looking at houses randomly, but that should be the exception and not the rule.
Seller’s Agent – A good seller’s agent will understand the power of the Internet. Since roughly 80+% of all real estate searches begin online, it’s critical to getting your home sold quickly and for top dollar that you work with someone that knows how to harness the power of the Internet in order to get your home the maximum exposure possible.”
So, what criteria do you use to select the real estate agent you’ll work with?
Filed under Buy Your Dream House, Hiring An Agent, Home Buyers, Home Sellers by
Ever wonder what it would cost to buy the White House? Yeah, THAT White House. You know, the one located at 1600 Pennsylvania Ave?
Well, according to Zillow.com, it you wanted to buy the White House you’d have to pony up roughly $303,362,000. Yep, over $300 THOUSAND!
That works out to a $1.4MM monthly mortgage payment!
Any takers? I know a GREAT real estate agent that could help you get your name on the deed? 
If you’d like to see all the details about our beloved White House, visit Zillow.com.
Filed under Buy Your Dream House, Fun Stuff by
