Buyer Tips – Page 2

How Do You Find Who You Can Trust For Your Real Estate Needs?

The root of any good or great relationship is trust. Without trust it is impossible to maintain or build a relationship. Trust is a necessary component to any relationship that is to be deeper than a superficial relationship. So how does an individual begin the journey of building trust with another individual?

There are a few ways:
1. Sometimes a level of trust is established based upon an introduction by a someone else that is mutually trusted. And so begins the journey of a referred client or maybe even the blind date that Aunt Mary set us up on. I guess a referred client is the equivalent of a blind date when you think about it.

2. After meeting a person, trust may be established by the small actions that build into larger ones. You set a time to meet and the person keeps the appointment and shows up on time. Trust is increased. The person tells you that they will commit to a task and then they follow through. Trust is increased again. The smaller things culminate into an increased level of trust until finally a true level of genuine trust is established.

3. The “gut feeling”- we will discuss the “gut feeling” in a moment.

Trust can be broken when someone does not follow through. Sometimes trust is broken even due to a person’s perception that another has been untrue to their word. Perception can cause trust to falter whether it is based in reality or not. When questioning ourselves on whether we trust another person, sometimes we come up with the response that we just have a “gut feeling.” That “gut feeling” is ultimately probably based on a perception of another based on something we have seen, heard or believe.

The root of any relationship is trust. Both business and personal relationships are built upon trust. Without it, there is no real relationship. When it is time to make your next real estate move, it is important that you can establish a strong level of trust with your real estate agent. As a local resident and Inland Empire real estate agent, building relationships that last is extremely important. We don’t want you to just jump in so we actually take the time to get to know each and every client so that services are tailored to each client’s individual needs. Listen to what other people have to say about us.

Bank of Mom and Dad To The Rescue For Many Chino Hills Homebuyers

By Keisha Hosea Leave a Comment

When traditional banks can’t help due to strict guidelines and other numerous reasons, the Bank of Mom and Dad Come To The Rescue For Many Chino Hills Homebuyers. A recent article discussed how more parents are helping kids buy homes. More than 68% of the people polled responded that they expect to provide financial support for either there children or grandchildren to purchase a home. In a previous post, I examined how one affluent businessman purchased a mansion for his college age daughter. Now don’t get confused, this trend is not just for the affluent. Working class parents are jumping on the bandwagon understanding that with prices as low as they currently are and interest rates at a low, there are bargains to be had. However, with the credit crunch and tightening loan standards, it is difficult for kids of baby boomers to afford homes without a little help. Parents are either buying the homes outright, furnishing the down payment or co-signing the loan. All is not lost when it comes to homebuying in Chino Hills and surrounding Inland Empire cities, there is just a new way of getting it done. Chino Hills CA real estate remains highly desired and co

What Should I Expect At My Buyers Home Inspection?

By Keisha Hosea Leave a Comment

Once you get your offer on a home accepted, you will probably want to schedule a professional home inspection. Most home inspections are based on the square footage of the home but typically run between $200 to $300. Your real estate agent should typically be able to refer you to some reliable inspectors. When you call to make your appointment, they will typically ask you a few questions about the home. Therefore, it is very important to have this information available when you call to schedule the appointment. It is a good idea to ask your real estate agent to give you a copy of a flyer with the information on it. Your real estate agent will also need to confirm that all the utilities are on at the property. This is necessary so that the inspector can check items like the heating and cooling systems, plumbing, etc.

The inspection generally will take 2-3 hours so come prepared to get very acquainted with your new home. It is advisable that you bring chairs to sit on, snacks, magazines, your camera, a measuring tape so you can measure spaces for furniture placement, pen and paper for note taking and any family members or friends that you may want to take a look at the property. During this time, your real estate agent may also bring additional documents that require review and signatures.

Once your home inspector has completed the inspection, they will generally go over their findings with you. You will usually receive a written report that documents these findings and suggestions. Bear in mind that the suggestions made are to aid you in better understanding the current condition of the home and the type of maintenance and repairs that you may wish to consider. The home inspection is a great way to familiarize yourself with your new home.

Should You Be Negotiating Or Simply Fact Finding Before The Buyer Actually Sees The Home?

By Keisha Hosea Leave a Comment

A seemingly simple question but one that seems to elude many real estate agents. Should You Be ‘Negotiating’ Or Simply ‘Fact Finding’ Before The Buyer Actually Sees The Home? In the world of real estate, these two skills are essential when it comes to writing an offer for a buyer. But real estate agents must understand that there is a difference between the two. ‘Fact Finding’ consists of asking questions regarding the listing or the home.

Fact Finding Questions Are Things Such As:

1. Is there a Home Owners Association? If so, how much is the Monthly Home Owners Association?

2. Do you currently have offers on the home?

3. When will you be presenting offers to the seller?

4. Is the home appropriate for FHA financing?

Negotiating is generally what occurs after the buyer knows that they intend to make an offer on the home. In the case of investors, some make an offer sight unseen. However, most buyers who plan to occupy the home will want to see the inside first.

Negotiating Questions Are Things Such As:

1. What types of terms is the seller looking for?

2. Is the seller firm on the price or is it negotiable?

3. Is the seller willing to contribute to buyers closing costs?

4. Is the seller willing to complete repairs on the home?

It is important to keep in mind that home buying is a process. There is little use in negotiating a home BEFORE knowing whether the buyer wants to actually purchase the home. Having a real estate agent on your side who understands the in’s and out’s of real estate can help you when you most need it.

When A Home Buyer Asks Me To Be One of Many Realtors To Show Them Homes, I Am Afraid I Must Decline The Offer

By Keisha Hosea Leave a Comment

Many buyers do not understand what a Realtors business entails. A simple analogy of this may help the average buyer understand why I must decline an offer to be one of many Realtors to work for them in a simultaneous fashion. Take a moment and think about what you do for a living. Really it does not matter what you do. Just imagine that you are ready to work and someone comes to you and says, “Hey I have two or three other people who are also going to do the same job. I want you to show up everyday, give it your all and then whoever finishes the job first is the one who will get paid.”

What would you say? Would you agree to come to work each day in hopes of a pay day? You have to also factor in that you are going to spend hours on this job everyday and must pay for gas to get to work, utilize time to do the job, possibly pay for supplies and then not only is it a possibility that you won’t get paid but that you will have expenses that you will not be reimbursed for either. In essence, it costs you to go to work everyday and you have no guarantee that you will ever get paid.

Hmmm…does this sound like a job you’re ready to jump at? Have you ever watched a hamster on a wheel? They run and run with no place to go and eventually stop running at all. That is pretty much what happens when a home buyer wants to hedge their bets by utilizing several Realtors at once. I don’t think I make a very good hamster on the wheel.

For me, it is a matter of evaluating what helps me serve my clients best and what makes the most business sense. I am better able to serve a smaller group of committed individuals who are equally committed to building a business relationship with me than I am able to enter a lotto pool for several non-committed individuals and pray that my lucky number hits. Once we establish what goals the clients are looking to achieve and the fact that I am equipped and ready to assist them, then a joint agreement is entered that we will work to achieve the desired goal together. Giving 120% to clients is a joy when there is a mutual commitment. Oh and just to be clear, I still may also work with committed individuals and never get paid. Why? Because I am only paid if my clients actually buy or sell a home. There are times when for numerous reasons this just doesn’t happen. This is a known risk of the business. So you see, a Realtor such as myself, already must factor in a percentage of expenditures that are not reimbursed. But running on the hamster’s wheel indefinitely just doesn’t interest me nor does it serve the better interest of my clients at large.

When A Home Is Over Priced, How Much Should A Buyer Offer The Seller?

By Keisha Hosea Leave a Comment

So you have found a home that you would like to put an offer in on, but it looks like the home may be over priced. What do you do? First and foremost when contemplating placing an offer, a buyer should always have their real estate agent run a report of comparable home sales. By doing this, you will have a greater knowledge about what similar homes are selling for. Once you know what similar homes are selling for then you can make a decision as to what you would reasonably want to offer for the home.

When placing your offer, it is wise to include recent closed comparable sales so that the seller understands what you are basing your offered price on. Sometimes home sellers need to see the hard facts before they will consider an offer lower than their listing price. Also be sure that your agent prepares a complete offer package. Including supporting documents such as proof of funds to close, pre-approval letter, etc. will help to show that you are a serious buyer.

Winter Home Maintenance in The Inland Empire

By Keisha Hosea Leave a Comment

Some Call It Winterizing, but in the Inland Empire, We’ll Just Call It Winter Home Maintenance

We probably don’t get cold enough in most Southern California areas to really do “winterizing” on our homes but we can certainly prepare for winter. Homes in the Inland Empire may need a little spot check to make sure we are ready for any rain.

1. Inspect and tune heating system

2. Time to clear the rain gutters. We may not get much rain but you better not forget those gutters.

3. Have your fireplace inspected for cracks and wear. Clean out the fireplace to get rid of old soot and logs.

4. Adjust your sprinkler system to compensate for the need to use less water.

5. Replace batteries in smoke detectors and carbon monoxide detectors

What Happens When The Appraisal Comes Back Lower Than My Offered Price On My Corona Home Purchase?

By Keisha Hosea Leave a Comment

What Happens When The Appraisal Comes Back Lower Than My Offered Price On My Corona Home Purchase?

When an appraisal comes back lower than a home buyers offered price, there are several courses of action that a home buyer can take with their Real Estate Agents help. The first step is to thoroughly review the written appraisal. There are occasions where there are errors in the appraisal and these items may need to be addressed.

Once the appraisal has been reviewed, if no errors are found, then a buyer has several options:

1. The buyer may decided to continue with the purchase despite the lower appraised value so long as they have enough of a down payment that would make this feasible with their loan.

2. The buyer may request a reduction in the sales price based upon the homes appraised value. The seller has the right to agree or not agree to this request.

3. So long as the buyer has not released their appraisal contingency, if the seller does not agree to reduce the sales price based on the appraised value, then the buyer may decide to cancel the contract to purchase the home.

Once a buyer’s decision has been made as to how they want to deal with an appraisal issue, then its is time to contact the seller’s agent. Quite frequently appraisal issues are worked out and everyone gets what they want. The buyer gets a new home at a fair price and the seller gets to move on. While these issues can cause one’s heart to pound profusely when they occur, an experienced Corona Real Estate Agent can help you maneuver through this not so uncommon issue. Best of luck!

Do You Know The Difference Between A Necessary Repair vs A “Desirous Repair”?

By Keisha Hosea Leave a Comment

Do You Know The Difference Between A Necessary Repair vs A “Desirous Repair”? Okay, so maybe I have coined my own term here. Yes, I am asking about the “desirous repair.” So since I am asking the question of whether you know the difference between a necessary home repair vs. a “desirous home repair,” I will provide some definitions.A necessary home repair would include those items that are in such uninhabitable, unlivable condition, unsafe condition that any reasonable person would expect and request such repairs. For example, the banister is missing from the staircase or the carpet is missing and concrete floors are exposed in a less than artistic fashion.Now that leads us to the “desirous home repair.” That would include such items as replacing the tile kitchen counters that are in reasonably good condition with granite counters or changing the carpet because it is blue and you want beige.

Most home buyers would like to find a house that is more or less move in ready and fits their minds ideal. While there is nothing wrong with this idea, we must also address this practically. This must be particularly addressed as more short sale and foreclosure properties enter the real estate market place across the Inland Empire. Many of these properties have been subjected to deferred maintenance by home owners who just did not have the financial means to keep them up or because they have sat vacant for indeterminable amounts of time and fell into disrepair.

As you search for the perfect home remain cognizant that your ideal property may exist but you may have to put a little elbow grease into it. Definitely try to negotiate the best real estate deal possible but be wise in asking for necessary repairs only. Despite what you may see on the national news regarding real estate, there are home sales and multiple offer situations happening across the Inland Empire in cities such as Riverside and Corona.

Your Corona CA Real Estate Agent Should Respect Your Privacy. Do They?

By Keisha Hosea Leave a Comment

Your Corona CA Real Estate Agent Should Respect Your Privacy. Do They?

One of the issues that many people are concerned about when they buy or sell a home in Corona is their privacy. It’s the reason that many home sellers in Corona do not want a sign in the yard or a buyer may not want to use their friend because of the financial information that must be shared. All of these concerns are valid. Much of the information about real estate is public information, however, there is a certain professional decorum that I believe most people should be able to expect from their Corona Realtor. Part of most people’s selection process when choosing a real estate agent is to select someone that they feel they can trust.

This hit home for me recently as I stood talking with a group of co-workers recently. As we stood in the open public bantering, one of my co-workers came across a person that they knew. As they shouted out to them, the person drew near the group. Much to my surprise, the Real Estate Agent then asked the person, “How’s your house coming along with the bank? Did they give you a loan modification?” As the person stood there sort of like a deer in the headlights, the Real Estate Agent turns to the group and says, “Yeah, I had to do a BPO on their house.” After mumbling a few words but avoiding a direct answer, the person quickly moved away from the group. They were mortified and so was I. Once alone with the other agent, I did voice my concern about the interaction. It just made me thin about how careless people can become when they are so used to dealing with a certain issue. Yes, real estate agents are dealing with loan modification situations, BPO’s (Broker Price Opinion), short sales and foreclosures everyday. It has become part of the norm and really most have probably become somewhat desensitized to the whole phenomenon. However, it does not mean that the rest of the world is. This is why carefully selecting a real estate agent is crucial. Worrying about whether the next time you see your real estate agent in public, they are going to mention something highly personal or not. Proceed with caution.