Christina Moock, REALTOR Cutler Real Estate

So, you have decided that now is a great time to look for a "deal", have you thought about this....

Are you planning to occupy the home, or are you looking to "flip" a house? Some of these homes may require quite a bit of construction to get them in livable condition. If this is a home that you plan to occupy, will you be able to live in the house during the construction process? If the house is not livable in it's current condition, then have you made arrangements to live somewhere else temporarily? If you are looking for a "flip" have you made arrangements on how you will finance and pay for the renovations? Many times the interest rate for a non-owner occupied mortgage is higher and requires a higher down payment than a loan for an owner occupied property.

Are you searching for a "deal" or are you looking for your dream home? It's easy to get caught up in all the hype about finding a deal that is going to turn a huge profit when you sell it. Will you be able to overlook the flaws of the house and see it's true potential? I think most real estate agents can tell you that we have all been in some smelly, dirty, outdated, falling apart, or moldy homes. Chances are that the homes you may look at will fall into one of those categories. It's important to look through the flaws and focus on the layout and structure of the home.

How will you handle a multiple offer situation? If you find a home that truly is a "deal" you need to prepare yourself that 5 other buyers may also think the house is a "deal". If you truly love the house will you be willing to forgo your bargaining thoughts and offer at or above the listing price? I have run into a few foreclosures that were in good condition where the bank under-priced the home to solicit multiple offers to drive the sale price up.

Do you need to sell your current home before you can buy? Most banks that own a house that has been foreclosed on will not accept an offer that is contingent on the sale of your home. You may need to wait until your home sells, or take the risk of owning 2 homes and 2 mortgages at the same time.

There are plenty of homes on the market and now is a great time to buy! Please contact me to assist you with your home-search, whether you are looking for a "deal", or looking for your dream home. I will be happy to help you!

5926 Snowshoe Cir.

$158,900

This 4 bedroom, 3 full bathroom home is waiting for your tender love and care. Located in Jackson township, home also has .475 acre yard and an in ground swimming pool. Request a private showing today to see this home's potential in person!

For more information on this home please visit: www.chrissymoock.com/1497619.

This would be a great home to utilize that new streamline 203K FHA loan. Please visit my previous blogs for more information regarding the 203K loan.

With the news, radio, and newspaper constantly stressing about how bad our real estate market is, it's a wonder that anyone is buying, BUT THEY ARE!!!! When searching for a home please keep in mind that the majority of homes do sell very close to their listing price. If you are looking for a "deal" you must be willing to do your homework and be very patient.

When looking for your "deal" you must be willing to consider homes that have been foreclosed on, may require lender approval, or may need some updating; this is where you will find the majority of homes that may sell below their true market value. Another way to find a home that may sell below market value is to look for words in the marketing remarks such as: motivated seller, must sell, fixer upper, needs minor repairs or updating. This usually signals that the sellers HAVE TO SELL, or may be more willing to negotiate a price lower than market value.

Once you and your buyer's agent have located a home that you think is a "deal" there are several things that you must consider. How much money will any needed repairs or updating cost? Will the cost of repairs be offset by the discount you may receive by buying below market value? Make sure to have your buyer's agent run some comparable sales for you of homes that have recently sold in the neighborhood. This will tell you if the price you have agreed to pay for the home falls within the correct range for the neighborhood.

Keep in mind that most bank foreclosed properties may already be discounted from their true market value. The bank who owns it will usually try to discount the price based upon the amount of repairs the home may require. Sometimes you will see a foreclosure that is in very good condition priced below market value. In this case, the bank is probably trying to create a multiple offer situation to drive the purchase price closer to market value. If you see one of these, you should try to prepare yourself that you may not get the house unless you are willing to write a higher offer.

When buying your "deal" you should be prepared to pay your own down payment and your own closing costs. Please don't insult the seller by offering 30,000 below market value and then ask them to pay all of your closing costs and or down payment requirement. It's almost like you asked them to immediately reject your offer.

Finally, if you are looking for a "deal" please be up front with your real estate agent and let them know ahead of time so you aren't inconveniencing yourself, your agent, and the sellers who may or may not be occupying the home. We are fortunate to live in an area where homes are very affordable. I am sure with some patience and a good buyer's agent you may possibly be able to locate your "deal" or your dream home whether at or below market value.

We have recently been reminded by the City of New Franklin about the strict enforcement of their real estate sign regulations.

The zoning resolution states (Article V 501-40): "No sign shall be placed in any public right-of-way except publicly owned signs, such as traffic control and directional signs." Sections 10a and 10b: "No person shall place, post, or affix any notice, poster, or other paper or device on any lamppost, utility pole, structure, or tree in the public right-of-way, except as may be authorized by law. Whoever violates this section is guilty of a minor misdemeanor."

Only one sign is permitted to be posted on a property that is being offered for sale. The city also asks that no directional signs be placed on street corners or intersections. If you have any private or commercial directional signs currently posted, the city asks that you please remove them as soon as possible. Any remaining signs will be collected and discarded by the planning and zoning department. Please call 330-882-4611 with any questions.

Are you planning to buy a new car sometime in the near future? You may want to read this before heading to the dealership. As many of you know my husband is very analytical. He likes to thoroughly research everything before buying it; as he wants to make sure he's getting the best product at the best price. I am not so "anal", but reading the article about car dealerships has definitely opened my eyes.

My husband, Jay, recently had an experience similar to the 4 square tactic often used by salesman. Read here. The salesman kept going back and forth between my husband and the manager, but was unable to tell my husband what the terms of the car loan were or even what interest rate he would be getting. Jay ended up walking away from the deal, but not before the salesman kindly told him that he was making a mistake and that he hoped the car wouldn't break down on his way home. I think we will definitely be avoiding that dealership in the future.

If more of the general public had read the article would REALTORS still continue to be ranked lower than car salesmen in surveys?