Shreveport, LA

Heads up if you're financing your new home. One of the things the mortgage company will require is homeowner's insurance. Do you know how to get the best rate possible with the proper coverage? By asking the right questions and paying close attention to the details, you can be sure that you're getting all the discounts you qualify for. Below are some of the discounts insurance companies might give to policy holders.

• Do you have a current renter's or homeowner's policy with any company?
  • Having a current policy will lower the rate by up to 10%.
• What is the age of the home?
  • Newer homes have better rates. Up to a 20% discount.
• Does the home have a security system?
  • If is has a security system it will get a discount. If it is monitored by a company, the discount can be up to 20% off.
• Are you retired or a homemaker?
  • Retired persons over 55 and homemakers get a discount. Up to a 5% discount.
• Does anyone in the house smoke?
  • If no one in the house is a smoker, you receive a discount.
• How much is your mortgage balance?
  • Home owners are advised not to insure the cost of the land, just the home located on it. Land is not at risk of a loss.
• How much of a deductible can you afford?
  • The higher the deductible the lower the premium.
• What part of the city is the home located in?
  • Depending on the location of the nearest fire station and fire hydrant the premium can be lower.
• Do you have any previous homeowner's claims?
  • If you don't have any claims, there may be a Claim Free Discount.
• How good is your credit score?
  • Although, the credit score isn't the only factor in determining an Insurance Score, it is the largest factor. Basically, the better the credit the better the rating class for insurance.
• What is the main construction of the home?
  • If it is brick instead of siding it will have a better rate.
• Would you like to combine your home and auto policies together?
  • A multiple policy discount can help save you up to 30%.
• Does the home have any recent improvements?
  • A new roof, electrical system, plumbing or other renovations can get you a discount.
• Will your homeowner's insurance payment be escrowed?
  • If you escrow your insurance you can avoid up to a $60 per year charge for paper bills.
• How much personal property coverage do you need?
  • Some people don't need a large amount of coverage for belongings. Lowering this amount will save money each month.

These are just some of the discounts that insurance companies give to their clients, so be sure to ask about these discounts and whether there are any others you might qualify for to get the best premium possible. Thanks to Charles Semon of Semon Insurance Agency - All-State for this information. You can contact Charles here:

Charles M. Semon Jr. - Owner
Semon Insurance Agency - Allstate
charlessemon@allstate.com
318-861-2034 Office
We proudly serve all of Louisiana and Texas.

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You're at Home with Heather
Shreveport and Bossier City, Louisiana Real Estate

Shreveport Home Connection
Coldwell Banker J. Wesley Dowling & Assoc. LLC

Serving your real estate needs in Shreveport, Bossier City, Benton, Haughton, Keithville, Stonewall, Blanchard, and Barksdale AFB

Licensed in Louisiana

When you sit down with a real estate agent who wants you to sign a listing agreement with them so they can sell your home, be very careful. As I mentioned in my post, What's Your Listing Agent Really Doing For You?, there are three important blanks on that document that you should be aware of.

First, let’s talk about the length of the Listing Agreement. Most agents will want a six-month listing contract. Ask yourself if you are willing to work with that particular agent for six months while he/she tries to get your home sold. Do you need to sell your home more quickly than that? Whatever length of time you agree to, make sure you have a way to cancel the agreement with written notice to the agent.

Here’s a tip for you. Make sure the expiration date falls on a Monday. That way if the listing agreement needs to be extended (and it might in this economy), the agent won’t be calling you up on the weekend to get the paperwork signed.

Next is the Broker’s Compensation that you are going to pay to have your home listed. This is usually a percentage of the selling price. This is a negotiable number, but generally ranges from 4% to 8% here in Shreveport.

You can do the math, but be aware that this entire amount doesn’t go to the listing agent. Usually, the broker of the agent that brings the buyer receives half of that amount. The listing agent and buyer’s agent are then paid some portion according to their agreement with their brokers.

Perhaps the most important blank on the agreement is the List Price. Who determines this price? The seller? The agent?

In my last post I mentioned that the agent would be doing some work before meeting with you. Part of that work will be to determine what homes in your neighborhood have sold for recently and to determine the list price of homes currently on the market. These are two very useful pieces of information, and if the agent you are talking with hasn’t done this, be prepared to interview another agent or two.

I’ll go into more detail about how this information is used in my next post, You Said My House Is Worth What??

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You're at Home with Heather
Shreveport and Bossier City, Louisiana Real Estate

Shreveport Home Connection
Coldwell Banker J. Wesley Dowling & Assoc. LLC

Serving your real estate needs in Shreveport, Bossier City, Benton, Haughton, Keithville, Stonewall, Blanchard, and Barksdale AFB

Licensed in Louisiana

The original title of this post was, What Is Your Real Estate Agent Really Doing For You? The topic was too broad, however, because an agent can work with a client in one of two ways.

1. As a listing agent when you want to sell your home
2. As a buyers agent when you want to buy a home. I guess if you want to get technical, there's a third way.
3. If you're selling one home to buy another, and you use the same agent for both transactions - lucky agent. He or she is working for you in both these capacities.

So, do you really know what a listing agent does for you? Do you understand what they're doing to earn their commission? And do you understand just how much money they actually receive when you use their services?

The Basics

There are some basic things you should expect from your listing agent. These are things that must be accomplished to get your home on the market. They include:

• Explain and complete the Listing Contract with a purchase price decided by you
• Complete and review the MLS Data form (this is the information that will be entered into the MLS database)
• Have you complete the state-mandated Property Disclosure and Lead Based Paint forms
• Discuss the Showing Instructions
• Take Photos of the inside and outside of your house
• Install a Lockbox or alternate way for other agents to show your home
• Install the broker’s Yard Sign with flyer boxes and sign riders
• Enter the MLS Data and Photos to make your listing “active” in the database

That’s it. Looks like nothing more than filling out some forms and putting out a sign, right? Well, for some agents this is the beginning and the end of what they do to get your house on the market.

Trust me, though. There are several very important items in the list above that can make the difference between For Sale and Sold. Actually an agent’s work begins with the first call from you to set up a listing appointment. What happens between that phone call and when you are greeting them at your front door? That’s what the next post is about, so follow me to…

What’s So Important About The Listing Agreement?

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You're at Home with Heather
Shreveport and Bossier City, Louisiana Real Estate

Shreveport Home Connection
Coldwell Banker J. Wesley Dowling & Assoc. LLC

Serving your real estate needs in Shreveport, Bossier City, Benton, Haughton, Keithville, Stonewall, Blanchard, and Barksdale AFB

Licensed in Louisiana

Well, 2008 has come and gone with incredible changes in the housing market and overall economy. Although the Shreveport market has fared better than most of the nation, we haven't been totally immune as the table below shows. While homes sales were down 123 and average home values were down 4%, it took just an average of 73 days to sell those homes.

All in all, Shreveport's housing market is doing well, but at a little slower pace. As I've written before, putting your house on the market involves more than hammering a For Sale sign in the front yard. In a nutshell, you must find your competition and prepare your house to outshine and outprice that competition to differentiate your home from the slew of homes on the market today. And because over 80% of consumers begin looking at homes online, you absolutely must have a major online marketing presence.

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You're at Home with Heather
Shreveport and Bossier City, Louisiana Real Estate

Shreveport Home Connection
Coldwell Banker J. Wesley Dowling & Assoc. LLC

Serving your real estate needs in Shreveport, Bossier City, Benton, Haughton, Keithville, Stonewall, Blanchard, and Barksdale AFB

Licensed in Louisiana

I have read a number of articles lately discussing predictions on what the real estate market will be like when it corrects. There is an agreement among these articles that the real estate market will be a new ball game and that marketing will make a shift to predominately online media.

With a drive to optimize marketing dollars, the Internet is by far the hands down choice for broad reach with an abundance of information for a small cost. However, not only is economy driving the shift, but the Internet savvy consumer is demanding it. In this modern economy of high demand on individual's time, and high demand for information on which to base decisions, online information is the option of choice. An ever increasing number of consumers are looking online for information. Print advertising seems to be falling more and more to the roll of pointing the consumer to a website where the desired information can be obtained in the form of quality photos, descriptive text and interactive experiences. This seems to be particularly true of high ticket items, such as real estate, where consumers decide which homes to view in person based on information they have obtained online.

Moving forward, it will become more and more necessary for Realtors to provide quality information in abundance while creating a professional and tech savvy online image. In an arena where so many options are available, it is easy for the consumer to pass by a listing that does not offer an eye catching, professional presentation immediately. Professional virtual tour creation and photography, quality interactive marketing, and effective online syndication are the cornerstones of creating an online campaign that will make your real estate listing stand out from the others. And if the professionals' predictions about the future of the market are correct, these items will become the standard for real estate marketing in the future.

If you have questions about establishing your Internet presence in 2009, Ark-La-Tex Virtual Tours will help you make an informed decision about which marketing options are best for you. Contact us today for information and answers to your questions.