By Annie Oehler · Comments (1)
Tuesday, May 15th, 2012

Home Ownership – My Story

I bought my first home late last year. I wasn’t exactly the kind of person who dreamed my whole life of having a home of my own. Actually, just the opposite. I tend towards commitment phobia and even the idea of becoming a homeowner brought no small amount of fear with it. I vowed to be a renter for life. But being a renter working at an office full of Brokers and Realtors® is no easy task. Over time, they wore me down. After a lot of hand-holding from a patient Agent and a lot of time spent searching for the right house, mortgage, etc., I made the leap. And somehow, seemingly overnight, I started noticing things I never noticed before.

For instance, door knobs. House address numbers. Plants. Things I gave little thought to before I owned my own place all of a sudden became completely fascinating to me. I even started caring more about things in my home that I’d had for years but never given much thought to. “I should get that picture re-framed.” “I should buy some different pillows for my couch.” After 10+ years of adult life without a proper dining room table, I finally got one.

When a home goes from being a place you live to your place, it does inevitably change your feelings toward it, like the difference between holding a stranger’s baby and holding your own baby. It gives you a strong urge to beautify your surroundings and makes you more aware of possibilities, even some blue sky fantasies that are just plain fun to dream about.

Whenever I listen to a story about the U.S. economy, I always hear the words “real estate” or “home sales” in the same breath. Real estate is the engine that drives the economy. Home building creates and sustains jobs for a multitude of trades. But beyond even job creation, home ownership can exert a powerfully positive effect on the economy. Having taken more trips to Home Depot in the last 5 months than I have in my entire life previously, I can testify to the truth of that statement.

Home building and home sales still matter. They matter more now perhaps than ever before. People, even the most stubborn among us, are still being won over to the idea of home ownership, still having their fears quelled. There is room for optimism.

Trust me.

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Categories : Featured Posts, First Time Homebuyers, Home ownership, Homebuyer advice, real estate agents
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By Annie Oehler · Comments (0)
Monday, April 16th, 2012

Short Sale Q & A

With short sales taking up such a large portion of homes on the current national real estate market, questions about how the short sale process works are frequent.  Today we will talk about 3 common questions and concerns about short sales and give some tips for how to make the short sale process a smooth one.

First things first, though. What exactly is a short sale? Simply put, a short sale is an alternative to foreclosure for lenders and homeowners. A short sale is performed when a lender agrees to allow a homeowner to sell his home for less than what is owed. This process results in a chance for prospective homebuyers to acquire the short sale home at a very attractive price and for home sellers to have less negative impact on their credit.

Question 1: How long does it take to complete a short sale?

This is usually the first question prospective home buyers or sellers ask when considering a short sale. Unfortunately, there is not a definitive answer to this question. Many real estate agents will tell you that from the point of submitting an offer it typically takes 3 to 6 months to complete a short sale. But the truth is the length of time to complete a short sale varies from lender to lender and from home to home. The good news is that things seem to be improving in this regard. In California the average time it takes to close a short sale recently dropped by around 19%.

The bottom line, though, is that the short sale process is generally not all that short when compared to traditional sales. If time is of the essence, a short sale may not be the best choice for you.

Question 2: Are all real estate agents trained to handle short sales?

You may be surprised to learn that real estate agents are not required to have even one minute of specialized training to represent a buyer or seller on a short sale. Unfortunately, this lack of required training can often hamper the short sale process. Thankfully, there are many real estate agents who have pursued a thorough education in short sales. If you are considering a short sale, it may be in your best interests to choose an agent that has SFR (Short Sales and Foreclosure Resource) or HAFA (Home Affordable Foreclosure Alternatives) designations. The National Association of Realtors® official website allows you to search for Realtors® in your area that have such designations.

Question 3: How can I get my short sale offer accepted?

Since your first offer is likely to be your only offer on a short sale, make sure it is realistic. Your real estate agent will be able to look at the local market and help you determine what a reasonable offer would be. It’s also important to be as attractive to a lender as possible. Including a pre-qualification letter with your short sale package will show the lender that you are a serious candidate. If you are able to put down more than the customary $1,000 earnest money deposit, this will also be appealing to a lender.

Once again, having a real estate agent who is a short sale expert is a great aid to getting your short sale offer accepted. Your agent will be able to give you additional suggestions for how to make your offer stand out and increase your chances of having it accepted.

These three questions are only a few of the many questions that both home buyers and sellers will have about short sales. What is most important is that you don’t hesitate to ask whatever questions you might have. If you have any questions you would like to ask the Advantage Group’s Certified Short Sale Experts about, please feel free to contact us at info@taghomes.com and we will be happy to assist you.

Photo credit: Alan Cleaver
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Categories : Featured Posts, First Time Homebuyers, Homebuyer advice, real estate agents, Short Sales
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By Annie Oehler · Comments (0)
Thursday, April 5th, 2012

This blog post concludes a three-part series designed to answer common questions and concerns from first-time home buyers.

First Time Home Buyer Series

Part Three: Shopping for a Home

You’re pre-approved for a loan. You’ve secured the aid of a real estate agent you trust. Now there is only one step left between you and your first home: finding the home!

While shopping for a home can be time-consuming and even occasionally tiring, it is also indisputably the most enjoyable part of the home buying process. There’s nothing quite like that anticipation you feel every time you are about to tour a home. After all, this could be “the one” – the house that will become your home!

What are some practical tips to ensure your home shopping experience will result in finding the home that’s right for you?

Start Your Search Online   Everyone loves to shop online; home buyers are no exception and with good reason – the internet is a quick and easy resource for finding information about homes for sale. Test out a few different real estate search engines until you find a favorite. In addition to popular sites like Zillow or Trulia, be sure to check out local real estate agency websites. Many of them have real estate search engines that give you more localized and, oftentimes, more accurate and up-to-date information than national real estate websites will be able to provide.

Careful Not to Bite Off More Than You Can Chew   Your real estate agent will be happy to show you any homes you are interested in, but as you gather information on homes you’d like to visit, a word of caution is in order: Resist the temptation to attempt to tour more homes than is reasonable. After touring several homes, you may find that shopping fatigue starts to set in and every home starts looking the same! If you have a long list of homes you are interested in, try to refine it down to 6 or 7 homes you want to see and then go from there.

Take Your Time While Touring   This is the fun part, so don’t rush! While it’s true that most of us will be attracted first to what we see when we tour a home, make sure you look beyond aesthetics. Inquire about the “bones” of the home – what is the age and condition of the electrical system, plumbing, roof and insulation? Take time to get a feeling for the area a home is located in. Don’t be afraid to approach neighbors and ask about their experiences living in the neighborhood.

Don’t Trust Your Memory   If you are planning on touring more than one home at a time, don’t trust your memory! Many home shoppers take notes or even pictures as a way of reminding them of various features of the homes they have visited. It is especially important to take note of any unresolved concerns you had while touring a home.

Keep Your Dreams in Check   Everyone has a dream home. For most of us, though, our first home is not the home of our dreams. In fact, trying to find the perfect home can derail your home buying experience. There will be pros and cons with any home you live in. Figure out what features of a home and neighborhood are most important to you and then be willing to compromise on some of the less important aspects. Remember, it’s called your first home for a reason – it will likely not be your last!

With the right tools and the right attitude, searching for your first home can be a delightful experience. Happy home buying to you!

Photo credit: Alan Cleaver

__________________________________________________________________________________________________

This concludes our First Time Home Buyers blog series. If you have a subject you would like to see us discuss on the blog, please tell us about it by leaving a comment or emailing us at info@taghomes.com.
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By Annie Oehler · Comments (1)
Tuesday, March 27th, 2012

This blog post continues a three-part series designed to answer common questions and concerns from first-time home buyers.

First Time Home Buyer Series

 

Part Two: Finding a Real Estate Agent

“Never again!”

Many of us have said those words after going on a (usually reluctantly agreed upon) blind date. While there are certainly tales of blind dates with happy endings, those stories are few in comparison to the number of horror stories you will hear about when you bring up this subject. Clearly, establishing a relationship with someone we’ve never met before is a tricky task. Even when our interests are professional and not personal, we can sometimes find ourselves in situations that make us think, “Never again!”

The process of choosing a real estate agent need not be so painful. How can you make sure that you get connected with a real estate agent that is a good fit for you?

Look Before You Leap

Many people, antsy to get the ball rolling on a home purchase, will contact the first real estate agent they see advertised in the paper or on a bus stop bench. But if at all possible, take the time to find out a little more about an agent before you pick up the phone. Visit their website, read their profile, seek out reviews from their satisfied customers. When a friend recommends a real estate agent, ask them questions about why they enjoyed working with the agent. Were they prompt, reliable, readily available to answer questions, honest, friendly? What’s important to one person may not be important to another. While there are some people that may like an agent that has a more “taking care of business” demeanor, most of us want to work with someone that is relaxed, friendly and has a real personal interest in us. Whatever qualities are important to you, seek out an agent that is the right fit.

Trust Your Instincts

Regardless of how well you do your homework, you may find that once you meet a real estate agent in person you feel unsettled. Does the agent make you feel genuinely listened to? Are they willing to answer all of your questions, even in great detail at times? If you get the impression that your potential agent is annoyed by your questions or in a rush to move on, your impression is probably accurate. Shopping for and purchasing a home will involve a lot of communication with your agent. Do you really want to go through that process with someone who leaves you feeling cold? Trust your instincts – if an agent doesn’t seem right for you, move on in your search.

Communicate

Even the best real estate agents do not come equipped with the ability to read your mind! If you have questions, concerns or problems at any point in the home buying process, don’t hesitate to communicate your thoughts to your agent. If you are a first-time home buyer, one of the greatest comforts of working with a real estate agent is having an expert on your side to guide you through uncharted territory. So don’t hold back; take advantage of your agent’s expertise!

Choosing the right agent does take some effort, but the result will be a real estate story with a happy ending!

Next week we’ll tackle the last subject in our First-Time Home Buyer series: Shopping for a Home.

Meet TAG’s Agents

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By Annie Oehler · Comments (0)
Tuesday, March 20th, 2012

First Time Home Buyer Series

Part One: Qualifying for a Home Loan

This blog post begins a three-part series designed to answer common questions and concerns from first-time home buyers.

Lately it’s become impossible to ignore the steady chorus of financial experts urging renters to make the leap to home ownership. From Warren Buffett to Donald Trump, it seems like everyone has gotten into the “Now is the Time to Buy” conversation. But for those who have spent many years renting and are just now beginning to entertain the possibility of home ownership, the idea can be a bit daunting. A friend called me recently to ask for advice about becoming a homeowner. Her real question basically boiled down to this: “Where do I begin?” 

If you (or your potential clients) have found yourself asking the same question, this series of blog posts is for you! In this post, we’ll discuss 3 keys to the first step towards home ownership – qualifying for a home loan.

1) Be Personal

The internet is bursting with websites that feature pre-qualification calculators and others tools to help you determine your loan eligibility. While these tools can be useful, they are a poor substitute for personal contact with a lending professional. For one thing, different mortgage programs have different requirements. The subtleties that can make or break loan qualification are things a computer program will be ill-equipped to assist you with. Talk to friends, neighbors, and co-workers who own homes and ask if they had a positive experience with their lender – if they say yes, ask them to help you get in contact with their lender.

2) Be Honest

For some people, finding out if they qualify for anything is a nerve-wracking process. As tempting as it might be to fudge your numbers or in some other way keep certain facts from your lender, this will only end in frustration. Be honest. Tell your lender anything that you think is pertinent, including any changes – for better or worse – that you think might be on your financial horizon. The more information you share with them, the better equipped they will be to help you secure your home loan.

Additionally, if you have questions about how the loan process works, and you surely will, don’t hesitate to ask. A good lender expects these questions and will be happy to patiently answer all of your questions and set your mind at ease.

3) Be Patient

It’s possible that your lender will tell you that you need to make a few adjustments before you will qualify for a loan. If this happens in your case, don’t be disheartened. One of the benefits of having established a personal relationship with a lender is that they will be able to give you specific advice for how to qualify in the future. And that future doesn’t necessarily need to be far off. Oftentimes problem areas can be addressed in a relatively short period of time and before you know it you will have that loan pre-qualification letter in hand!

Tune in next week for Part Two in the First-Time Home Buyers Series: Finding a Real Estate Agent

Photo credit: nikcname
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By Annie Oehler · Comments (4)
Thursday, March 1st, 2012

It Never Hurts to Ask!

It is so much a part of human nature to ask questions that it seems that as soon as children learn to speak, they learn to ask. Children aren’t shy about asking questions, either. They will ask you questions from the profound to the simple with the same earnestness and curiosity.

As adults, though, most of us become more reluctant to ask questions. Too often in life, we assume that we should just automatically understand certain things if other people around us seem to understand them. It can be tempting to play along when things are over our heads, but honestly, how often does just pretending we know the answers ever work out in our favor? Usually it just leads to worse embarrassment! Instead of playing along, we really should be saying, “Wait…can you explain that?”

If you are not a real estate professional, then you are not supposed to have all the answers about the home buying process. Particularly is this the case with first-time home buyers. If you have a question, no matter how trivial or basic you think the answer might be, by all means ask it! Getting clear and direct answers to your questions is one of the greatest benefits of having personal contact with a real estate professional. Getting your questions answered will also help put your mind at ease and make you feel more relaxed and in control of your home buying experience.

When it comes to buying or selling a home, remember: It never hurts to ask!

Photo credit: Helga Weber

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By Annie Oehler						· Comments (4)					

					
					

						Friday,
						February
						3rd,
						2012
					

				

				
				
				

					
 


TAKING QUALITY REAL ESTATE PICTURES


Whatever potential home buyers are focused on when they shop for homes online – location, square footage, design features – there is one thing they all have in common: they want to see pictures! Now that nearly half of all real estate transactions start online, quality pictures are more important than ever before.


Thankfully for all of us novice photographers, you don’t have to be an expert (or own a lot of fancy camera equipment) to take great pictures for your real estate listings. Here are some tips for how to get the best pictures possible with any camera:


1) Keep it clean 


When a potential buyer is looking at pictures of your listing, you want them to see the home, not the pile of junk mail sitting on the counter or dirty dishes in the kitchen sink. Clutter makes rooms look smaller, so clear it out of the way before you take pictures. You may also want to consider rearranging furniture if doing so will provide a more unobstructed, clean view of a room. Eliminating distractions makes it easier for the viewer to see the potential for a home to be their own, instead of simply seeing it as a place where someone else lives.


2) Quantity AND Quality 


For most home buyers, the more pictures they can see of a home the better. But even an abundance of pictures will have little positive effect if the pictures are of poor quality. Remember to keep the focus on the most interesting part of the room. Is the ceiling distinctive? If so, then by all means include it in the shot. But if not, don’t fill a large part of the picture with what is essentially uninteresting blank space. Take pictures at different angles, including below or above eye level. For instance, taking an exterior picture below average eye level can fill more of the frame with the home and less with the sky or surrounding distractions that viewers will be less interested in.


3) Do a disappearing act 


Handsome though you may be, the home buyer is not interested in purchasing their very own real estate agent, so leave yourself out of the picture! An agent can sometimes show up in a picture inadvertently – as in the case of the tricky bathroom mirror photo. Make sure to angle yourself in such a way that you don’t show up in the mirror’s reflection (especially if you are using a flash!)


Applying these simple tips from the experts can make a world of difference in the quality of your real estate pictures. Remember, a picture can be worth a thousand words, so let your camera do the talking!


Photo credit: brtsergio

				

				
				
				

					
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By Annie Oehler						· Comments (3)					

					
					

						Tuesday,
						January
						17th,
						2012
					

				

				
				
				

					
Closing Costs 101


It’s undeniable that the most exciting moments in our lives usually come along with some anxiety – weddings, the birth of children, starting a new career…and buying a home. As overjoyed as they might be when their purchase offer is accepted, it seems like prospective home buyers hardly have a moment to celebrate before new concerns bring them back to reality.


One of these concerns is the oft-dreaded closing costs. Closing costs – the fees your lender charges at the finalization of your home purchase – are regarded by most as a necessary evil. But armed with a little knowledge, even the most inexperienced buyers can feel prepared for this step and equipped to negotiate for fair closing cost expenses.


Here are some guidelines for home buyers in every step of the process:


PRIOR TO CONTRACT


If you are concerned that coming up with enough cash for both your down payment and closing costs will be more than you can handle, consider requesting the home seller to pay a percentage of your closing costs as a contingency in your purchase contract. Many sellers anticipate covering a portion of the closing costs in a real estate transaction and factor this into their asking price accordingly. What percentage of closing costs will be seller-paid depends both on the seller’s preference and on the type of loan you are using, so be sure to talk this option over with your real estate agent.


Additionally, some lenders will pay all or a portion of your closing costs in exchange for your acceptance of a higher interest rate on your loan. Be sure to calculate the long-term cost of this option to determine if it is a good choice for you.


IN CONTRACT


Your lender is obligated to provide you a Good Faith Estimate (GFE) within 3 days of your loan application. Because real estate purchases often come with a mountain of paperwork, it can be tempting to avoid a careful examination of items like the GFE. But this is one document you want to scrutinize carefully! Non-recurring fees, such as application fees and settlement costs, can be negotiated with your lender. So shop around and see how your lender’s fees compare with standard fees from other lenders. Don’t be afraid to ask for a lower price for these items and for an explanation of charges you don’t understand.


JUST PRIOR TO CLOSING


Request your lender to provide you the HUD-1 Settlement Statement and then compare the fees listed on that document to the fees listed on your Good Faith Estimate. If there are discrepancies, ask you lender for an explanation.


Being as proactive as possible in the home buying process is always to your advantage, so be diligent about researching and negotiating closing costs. And then get back to celebrating!


Photo credit: Victor1558

				

				
				
				

					
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Categories : Closing Costs, Featured Posts, Homebuyer advice

						
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By Annie Oehler											

					
					

						Monday,
						August
						8th,
						2011
					

				

				
				
				

					
Livable Design Documentary highlights the practical value of functional design


Last month on the blog, we talked about the increasing demand for home design that is accessible for everyone. Livable Design recently produced an excellent 4 minute documentary – Ken’s Story – that puts a very personal face on the need for more accommodating home design. You can watch the inspiring story by clicking on this link.


What features of Livable Design would you most like to enjoy in your home? Feel free to share your thoughts in the comments section.

				

				
				
				

										

						
Categories : Featured Posts, Livable Design

											

				

			

			
			
											
			

				
				

					
					
					

						 
By Annie Oehler											

					
					

						Thursday,
						August
						4th,
						2011
					

				

				
				
				

					
Price Reduction at East 34th Street!


Prices have been reduced at the East 34th Street community! It is now more affordable than ever to own your own home in East Sacramento! Prices now range from $139,990 – $209,990 for these 2 and 3 bedroom homes. Take a closer look at these adorable homes (including pictures and a virtual tour) at our official East 34th Street page.

				

				
				
				

										

						
Categories : East 34th St, Featured Posts, New Communities

						
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