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Amanda Wernick

Buying a Home "online", a Gen Y'er's story!

It's nice to get a fresh perspective in pretty much anything. I am thankful to have made a connection with Taylor Fyhrie of Just Snooping and asked him what his experience as a Gen Y'er buying a home was, and what methods he used to purchase...Read more about it here...don't be afraid to comment!

http://www.amandawernickfunomenalrealtr.com/introducing-taylor-fyhrie/

The Winter Olympics...and of course...Real Estate!

The Winter Olympics will soon be under way and personally, I CAN’T WAIT! I love to see it from the very beginning…Getting to know each of the athletes as they work to make their dream a reality. Watching them compete on a level that so few of us (aside from die-hard athletes pro or not) will ever experience.

They train for years, whether they feel good or not. Injuries, mental struggles, physical limitations mean nothing to them. Some sports are “one man” such as skating, snowboarding or skiing. Other sports such as couples figure skating or the Luge rely on timing, coordination, a meeting of the minds that is so close, a split second makes the difference between winning the Gold, or going home with nothing to show for it but a bruised body, and for some, bruised egos.

In the end they all compete as TEAM USA…looking to win as many Gold medals for themselves, for our country.

How does this relate to Real Estate you might ask? I’ll tell you how I see it.

In real estate, it is so important for you as a buyer or seller to have a team of professionals help you on your journey. Your team may not include world famous coaches, or dieticians, or even medical staff, but a team, nevertheless.

Your Realtor is your frontrunner. If this were the Luge, your Realtor would be front and center…finding out what your needs are and how they can best help you achieve your goal. They would give you advice on which direction to take and how to get there.

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Next would be your Loan Officer. They would be right behind your Realtor, looking at interest rates, tax benefits (remember the first time homebuyers tax credit) and ensuring that all documentation is in place, speaking to the bank on your behalf and working to make sure your loan funds and records like originally planned.

Next is your Escrow officer. They are the third man in. They make sure that title orders are placed; Home Owner Associations paperwork is ready, pay out in a timely fashion any monies owed and ensuring that they work with your Realtor and Lender to have your transaction close smoothly.

Lastly is the “anchor”: The brokerage. A company with its pulse on the market and community, ensuring that all of the agents that work there are knowledgeable and have continued access to management should the need arise and a staff on hand to answer any questions you may have, from finding a Home Stager to a roofing specialist.

There are others in your team…members that work behind the scene to assist you in buying and selling your home. The Marketing Department, the Title Company, the Home Inspector, the Transaction Coordinator: all working hard for you from day one.

We’re here to work for YOU…Doesn’t that feel good?

One last note: take a moment to see who will be competing to be a part of TEAM USA WINTER OLYMPICS! http://www.teamusa.org/making_teamusa

Jumping to conclusions:

I'm on a plane heading to New York for a meeting with some of the best and the brightest in the Real Estate world (at least in New York)

It's a red eye flight and everyone around me is resting, some even snoring, and here I sit posting a blog. What can I say...sometimes the most random things inspire me!

I don't have my headset on and currently playing is "The Time Travelers Wife". It's a movie that I had planned on seeing, but somehow never made it to the theatre to catch.

I'm looking up at the screen periodically and get the gist of the movie but what I don't have are the details. For example, why does he always disappear? Does he have control of it and how long he'll be gone? Why does he do it? Does his wife finally get tired of? Why did she sign up for it to begin with?

That is the relevant information that I should have before making a decision on whether I like it or not. Seems logical.

But let's say that I don't bother to watch it with the headset and decide to jump to conclusions and create my own storyline. While there is an art to creating something from almost nothing, this is also the way that many rumors get started.

You arrive home from the market and you see a "For Sale" sign on your neighbors yard....what do you do next? Do you call one of your neighbors and ask if they know what's going on...or do you call and give them an explanation on what YOU think happened?

This is something you should consider if you are looking to buy or sell a home. Allowing people that are not in Real Estate to advise you on:

When is the perfect time to buy/sell, what to offer, how much to ask for, asking the agent to kick in their commission check, looking for the best buy, work with many agents to see who gets you the best deal. In the end, this will do you more harm than good.

I bring this up because I know a lot of Monday morning quarterbacks. You know what I'm talking about. The ones that would have won the game if....

Without a professional Real Estate agent to represent YOU, you can expect to waste your time, writing low ball offers not aware of what the current local market is doing. If you're looking to sell your home, looking on Zillow is a good start, BUT it's still not an accurate portrayal as to what is REALLY going on in the neighborhood. For example, a home on a cul de sac will generally sell for more than a home that is on the corner of a freeway on ramp.

You'll probably be told that REO's (bank owned properties), short sales and foreclosures are the way to go...when in truth, that may not be the way for YOU to go. Time constraints (these can take anywhere from 3-9 months to actually materialize) condition of the home and price are all factors to consider. If it takes too long, what happens to your loan? The interest rate? Your payment?

I'm not saying to hire the first Agent you speak with. Interview several. Get a sense of who they are (Google them if you need to) and then move forward.

I wouldn't represent myself in court or perform open heart surgery on myself...I also would not represent myself in a Real Estate transaction...

Why would you?

Now's the time to buy! Or is it?? (part 2)

A few years back (I am sure you are fully aware) homes were selling like hotcakes at a Waffle house after church.

During this time, homes were selling almost the same they went on the market! Buyers were rushed into buying homes. Some lenders were “qualifying” the buyers into homes that were well beyond what they could realistically afford.

It didn’t matter they said, because at the end of the day, “you’ll be a home owner and two years from now, we’ll just refinance you and adjust your payment”. Such a shame that a few have spoiled the stew for those that are ethical.

As a Realtor, I tell my clients all the time: You will more than likely buy 3 homes before it is all said and done.

1. Your beginner home. Here, you will learn about yourself and plan for your future and set goals accordingly. Here is where you will discover that the next time you buy a house you DO want direct garage door access into the kitchen and not a bathroom.

2. Your second home will be the one that, usually, you grow in your career, and for those that choose to, grow a family. It is the one that says: I love my family and can provide for them OR it’s your “Look! I made it!” home.

3. Your third house likely will be the one after the kids are grown and gone (if you had them) and the house is just too big to take care of. The one where you decide that you would rather spend your weekend sailing or playing a round of golf and not pulling weeds, unless of course you’re into that!

These life events cannot be rushed. They are steps that we all take and should savor along the way. Don’t buy more than you can realistically afford. You’ll get there…it’s just going to take some time….

Now's the time to buy! Or is it??

Its funny how quickly time passes.

One minute you’re toasting soon to be un-kept New Years Resolutions, next thing you know, you’re preparing, once again, to carve a turkey at Thanksgiving.

Where does the time go? What’s the hurry?
Over the summer we couldn’t wait for fall to get here. No sooner had Memorial Day come that we were buying Halloween candy…
The day after Halloween, you would see all of the Thanksgiving Day themed paper plates and wind socks.
Two weeks before Thanksgiving, the Christmas music starts playing and “How the Grinch Stole Christmas” is on TBS!

So what’s my point?? What inspired me to post this blog?

As a buyer you have no doubt been hearing how NOW is the right time to buy a home…you’re hearing words like “Tax Credit” “Low interest rates” “get off the fence”.

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These are the buzz words. And everyone I know is throwing them out there like leftover meat loaf!

The truth is that right now may NOT be the right time for you to buy a home. Buying a home is a process, and one that you will be well advised to pay attention to.

The process begins when you awake and decide that you would like to know how being a homeowner will benefit you. Next, you’ll want to know what is happening with home values in a neighborhood you’ve been considering. You start to pay attention to what is going on the market, at what price homes are listed, how long they stay on the market and finally what it sells for. This process cannot be rushed! Only by seeing this for yourself will you discover what you are willing to pay for a home.

The next step is to meet with a lender and discuss all of your options. You want to talk about down payments, closing costs, interest rates and finally the payment. How much house can you really afford? What about reserves? Seasoning of funds? Do you even know what these terms are and why they’re important to you?

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You also need to make the time to speak to your tax preparer to see how purchasing a home will impact you and if you are able to live with this impact.

Next you want to get a recommendation from a friend or family member who is currently a homeowner. Ask them…what agent did you use? Would you use them again? What questions do I need to know to ask? Do I need to interview more than one agent? When you have gotten this far it is time to take the next step…begin interviewing agents, preferably a Realtor®