Jim Valentine

Buying The Right Home ... It Isn't Always About The Price

In Carson Valley, Nevada ... like most communities ... price has, and always will be, a critical factor when buying a home. It seems, however, as if price has recently become an obsession with some Buyers to such an extent that their mindset is detrimental to their own interest. There is so much more to buying a home to live in than price.

Value is the eye of the Buyer ... or Seller. Seller's have their reason for value - their perceived need for a price to achieve, their family memories, or the many upgrades they've put in the home that separate that home from the rest of the market. Buyer's on the other hand, are visualizing their enjoyment of the property, but don't yet have the personal connection to the property. They are dreaming about what can be.

What affects price? Location, of course. But what might be a great location for one person can be a terrible one for the next. Living on a park can be great ... if you can tolerate the crowds that it attracts. Living conveniently in town is great for kids' activities... unless you want horses. Living in a condo is great for minimal maintenance ... unless you have three dogs.

If you travel frequently you will likely enjoy landscaping that requires minimal landscaping. If you like horses you'll enjoy an existing horse set up. Like to recreate on public lands - proximity to BLM or Forest Service property can provide great pleasure to you and your family. Have a boat or other toys - you'll enjoy a three car or larger garage that will protect your investments.

Many factors inside can make a difference in houses. Entertain a lot - double ovens will come in handy. Have a lot of kids - good luck with a single bathroom. Enjoy the mountain scenery - every day you wake up and see a special view from a real view property will make you feel like a winner. Whether you like a great room design, or formal "compartmentalized" design - buy the style you really like and you will enjoy your time at home. Like granite counters or do you prefer tile?

Want a garden ... or not? Need room for the RV or do you want a small lot? Do you mind fixing up a home? Are carpet and paint all you want to do, or will you do other significant repairs? Ready to tackle landscaping - new and bank owned properties require that you do.

Our Advice: Don't worry about the last $50 on the negotiating table. Consider the overall transaction and weigh the benefits - pro and con. If there is a better home for you out there then you should be negotiating to buy that home.

If you have found the perfect home, make an offer, negotiate the best price, terms and conditions that you can, buy it, and enjoy it. Unless it is a rental property where the numbers dictate your actions, realize that there is an emotional return on your investment when buying and living in your primary residence. Get a high rate of emotional return and you will understand why price, though important, is not all-important.

Finding the right home can be rewarding in many ways. Don't overpay and don't stress over trivia. Don't miss the opportunity to enjoy the right home for the sake of a dollar - you'll be "tripping over happiness to chase a dollar".

When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com

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Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley, Carson City and the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: www.findhomesincarsoncity.com or visit our website at www.CarsonValleyLand.com

Photos by Jim Valentine, RE/MAX Realty Affilliates, 1320 Highway 395, Gardnerville, NV 89410. www.carsonvalleyland.com dpwtigers@hotmail.com 775-781-3704 Lisa Wetzel and Jim Valentine Serving Northern Nevada for 30 years - Carson Valley, Gardnerville, Minden, Genoa, Topaz, Smith Valley, Carson City, Dayton, Stagecoach. Land, ranches, residential, short sale, REO, investment, and development properties.

Working With A Buyer's Agent In Today's Real Estate Market

Working with a Buyer's Agent In Northern Nevada? It is important to select the right agent to help and represent you when you buy a home. The choice of agent varies as each is as distinctively unique as their personality, life experience, real estate knowledge and experience, and attitude. You won't know everything about an agent when you meet them, but it will help you to know what you are looking for and what to expect from an agent.

Real estate agents serve several roles. If you are new to the area they will orient you, give you what we call our "Chamber of Commerce" talk. You'll learn about weather, government, taxes, activities, etc. They will also help you identify what you want in a property, what you are able to afford, and what neighborhoods in the area fit your wants and needs. That is an important step as it leads to the next critical step- selecting properties to look at.

This is where Buyer's agents can differ greatly. Are they interested in selling you any property, or the right property for you? Do they want to sell you the right property, or just sell you their, or their company's listing? Are they working for you? You will get a feeling right away when you are taken to a two bedroom house with your five kids in tow. There are more subtle things to look for - pay attention.

Are they eliminating market segments that could work for you? Short sales are a common sales situation avoided by many agents these days. They can take time and be uncertain, but with the right circumstances they can be a wonderful buying opportunity. How do you buy a short sale property? Do your homework! We recently studied a niche market for a customer and found the right short sale - had approval in five days. That is unusual, but a good example of why you can't categorically discard a short sale property from your list of prospective homes without doing the right investigation first.

When you've found a house the agent becomes the investigator, contract drafter, and negotiator. They should help you determine how the property stacks up in the market and how to strengthen your position. After the offer has been accepted the escrow process begins - and there is much work for the active Buyer's agent to coordinate, follow up on, monitor to assure a minimal risk and timely close of escrow.

Our advice: Go with your instinct on selecting your agent. Just because you walk in to an office and are assigned an agent doesn't mean that is the agent for you. It could be ... you could have attracted each other, but if it just isn't working understand that you are making a major financial and emotional investment - you should have the right agent. They should ask questions of you - it is your investment , not theirs. Feel free to interview the agent(s) - do they understand you and your needs/wants. Will they do the job for you? Agents should be readily available and follow up in a timely manner when you call or email. They shouldn't be expected to be available 24/7, but they shouldn't disappear on you in this active market.

We are fortunate to have a very high standard of practice in our industry in the Northern Nevada region. There are many good agents available to work with - make sure you find them. It is more important to find the right agent than it is to find the right house ... they will help you with the latter.

When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com

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Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley, Carson Cityand the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: www.findhomesincarsoncity.com of visit our website at www.CarsonValleyLand.com

Seller Motivation Today ... Understanding It For Success

In our Carson Valley Real Estate Market, like everywhere else ... It takes a willing Buyer and a willing Seller to make a sound real estate transaction. Understanding a Seller's motivation is essential for Buyers to negotiate the best transaction for the home of their choice. There are three distinct categories of Sellers today: Bank Owned (REO), Short Sale, and Private Party (regular). Each is motivated differently.

The easiest to assess is the REO owner, the lender. They are numbers and risk driven. They want the most money in the shortest amount of time with the least amount of risk to the transaction. They are not emotionally involved, will make a decision based on price and terms alone. They want a clean offer with minimal conditions. You can usually make a good buy when buying a REO, but there are contractual restrictions and often property deficiencies that must be dealt with.

The Short Sale Seller is motivated to minimize the impact on their credit. They will get nothing from the sale other than the ability to repair their credit sooner than if they are foreclosed on, and the forgiveness of their debt. They also can save face in their neighborhood by living in their property and maintaining it until the close of escrow. There can be difficulty motivating the third party decision maker, their lender, to work to accept your short sale offer, but that situation is improving. Motivation in a Short Sale situation is usually high on the part of the Seller - your agent can help you determine the anticipated motivation of the lender based on his/her short sale experiences.

The regular Seller is still out there, and many are sufficiently motivated to compete in the market place. It would seem like these Sellers would also be price driven, but often there are other factors that are important to them that can impact the dynamics of the negotiations. These can include a rent back opportunity, a Buyer that will be a good fit for the neighborhood, minimal conditions, a long escrow period, a short escrow period, etc. Other motivating factors can be health, moving for family, moving for work, buying down, buying up, etc.

Our Advice: It doesn't matter what a Seller paid or didn't pay for their property ... what matters is their motivation to actually sell. Understand what the Seller wants and make your offer accordingly. Not all offers are the same, and your agent should help you craft an offer that will resonate appropriately with the Seller of the home you want to buy. It isn't all about money ... the art is to find the true motivation(s) of the Seller. When your Buyer motivation matches the Seller's motivation on a home that you really like ... you can make a wonderful purchase and enjoy a smooth escrow that all parties are committed to.

Some Sellers have listed their home for sale, but are insufficiently motivated - move on. Unless there is an overwhelming reason for you to buy that specific property, i.e.- your sister lives next door, we suggest that you move on once you determine that the Seller isn't realistic in their expectations. Probe for motivation before you decide you can't buy the house - you might be surprised how easy it will be if you find a motivating factor other than that which is stated by every Seller, "We're not going to give it away!"

When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com

..................................................................................

Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley, Carson City and the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: www.findhomesincarsoncity.com of visit our website at www.CarsonValleyLand.com

Seller Motivation Today ... Understanding It For Success

It takes a willing Buyer and a willing Seller to make a sound real estate transaction. Understanding a Seller's motivation is essential for Buyers to negotiate the best transaction for the home of their choice. There are three distinct categories of Sellers today: Bank Owned (REO), Short Sale, and Private Party (regular). Each is motivated differently.

The easiest to assess is the REO owner, the lender. They are numbers and risk driven. They want the most money in the shortest amount of time with the least amount of risk to the transaction. They are not emotionally involved, will make a decision based on price and terms alone. They want a clean offer with minimal conditions. You can usually make a good buy when buying a REO, but there are contractual restrictions and often property deficiencies that must be dealt with.

The Short Sale Seller is motivated to minimize the impact on their credit. They will get nothing from the sale other than the ability to repair their credit sooner than if they are foreclosed on, and the forgiveness of their debt. They also can save face in their neighborhood by living in their property and maintaining it until the close of escrow. There can be difficulty motivating the third party decision maker, their lender, to work to accept your short sale offer, but that situation is improving. Motivation in a Short Sale situation is usually high on the part of the Seller - your agent can help you determine the anticipated motivation of the lender based on his/her short sale experiences.

The regular Seller is still out there, and many are sufficiently motivated to compete in the market place. It would seem like these Sellers would also be price driven, but often there are other factors that are important to them that can impact the dynamics of the negotiations. These can include a rent back opportunity, a Buyer that will be a good fit for the neighborhood, minimal conditions, a long escrow period, a short escrow period, etc. Other motivating factors can be health, moving for family, moving for work, buying down, buying up, etc.

Our Advice: It doesn't matter what a Seller paid or didn't pay for their property ... what matters is their motivation to actually sell. Understand what the Seller wants and make your offer accordingly. Not all offers are the same, and your agent should help you craft an offer that will resonate appropriately with the Seller of the home you want to buy. It isn't all about money ... the art is to find the true motivation(s) of the Seller. When your Buyer motivation matches the Seller's motivation on a home that you really like ... you can make a wonderful purchase and enjoy a smooth escrow that all parties are committed to.

Some Sellers have listed their home for sale, but are insufficiently motivated - move on. Unless there is an overwhelming reason for you to buy that specific property, i.e.- your sister lives next door, we suggest that you move on once you determine that the Seller isn't realistic in their expectations. Probe for motivation before you decide you can't buy the house - you might be surprised how easy it will be if you find a motivating factor other than that which is stated by every Seller, "We're not going to give it away!" When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com

.......................................................................................

Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley, Carson City and the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: www.findhomesincarsoncity.com of visit our website at www.CarsonValleyLand.com