Should You FSBO?

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Have you ever thought of selling your home, “For Sale by Owner”? There are challenges when selling a home by yourself and you may still have to pay out a commission to another real estate agent.  The numbers reported by the National Association of Realtors say, 88% of Buyers look for their new home online and using a real estate agent can net you $39,000 or more than going at it alone.  Hmmm… I would definitely think about it first and check with professional real estate agents before sticking a sign in front of your house.

Friend or Family Members as Your Realtor

A lot of the time, I speak with people who are seeking real estate advice and they end up working with a family member or a friend because they feel obligated to work with them because of their relationship.  I don’t mind, usually.  I strongly believe the better informed people are, the better decisions they make when it comes to their real estate transactions.  I do however, become concerned for the folks who decide to work with their family member or friend and that agent is lacking in areas I believe are necessary in order to protect their client.

Here’s a quick list of items I believe an agent, besides their license, should have in their repertoire at the minimum:

Membership to the National Association of Realtors and their local board.  Ours on O’ahu is called the Honolulu Board of Realtors.  They should carry a title, Realtor or Realtor-Associate.  They should be a full-time Realtor.  Wouldn’t it be disappointing if you missed a home just because they were not available due to their full-time job outside of real estate?

At the minimum, at least one designation, either a Graduate Realtor’s Institute (GRI), or Accredited Buyer’s Representative (ABR). These designations help build an agent’s knowledge in Residential Real Estate and it strengthens their skill set.

A computer and knowledge in using applications that are provided through our membership with the local board.  Some don’t know how to use our forms program, smart card and electronic lockbox features.

At the minimum, a cell phone with texting abilities.  NOT a smartphone.  I personally believe my smartphone is the best and by far my favorite tool in my practice.  I couldn’t function properly without it!

Knowledge and understanding of our standard forms.  THIS IS A MUST!   Once I understood our standard forms, I knew then I would be able to better protect my clientele.

This is just a quick list of bare minimum items that your appointed agent should have.  So if your family member or friend don’t have any of these items on this list and it’s your first purchase or your first time putting your home on the market, interview other agents before you decide to work with them.

 

 

Just Sold!

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91-1217 Kauiki Street, Ewa Beach    $355,000 fee simple

A home is where your heart is.  This home had the biggest hearts lovingly caring for it for more than 40 years.  Although the Seller was emotional in saying goodbye, I know that a new adventure and a new “home” awaits him at his next destination!  Good luck, Choogie!

 

 

Interest Rates are Unreal

I have lenders send me daily rates.  I can’t believe how low some of these rates are!  Back in 2007, rates were considered GREAT at 6.25%, then in 2009, 5% was unheard of, then in the end of 2010, 4% was phenomenal.  Now, I see interest rates at 3.625% with 1.875 points for a 30 year fixed, and a 3.625% with .875 points for a FHA/VA loan.  Wow!  It is a great time to buy!  Homes on O’ahu are available!

Waiting for the Lender to Evict You?

My first question is why?  Some homeowners are staying in their homes during the long, foreclosure process until someone forces them out.  They may be holding on to the thought of possibly saving their home, but in reality, saving it from the big, overbearing bank is inevitable.

Don’t despair! There is hope.  Hope that you may be able to start over in the near future, but a foreclosure will no doubtingly make things 100 times more difficult!  If you are in trouble, it’s OK to ask for help.  Ask plenty of questions so that you understand all the consequences of your current situation.

A professional real estate agent who either specializes only in short sales and lender sales, or perhaps an agent who is a general practitioner with Short Sale education and experience can help answer the questions to help determine if a short sale is for you.  In most cases, a short sale is better than waiting for the bank to take your home away.

If you need to inquire, don’t hesitate to pick up your phone or email me…. advice is always free!