Robert P Bowman

A CMA is a "Comparative Market Analysis" prepared by your Professional Licensed REALTOR, which provides data comparing your property to similar homes in your immediate area. A detailed Analysis will include comparing square footage, bedrooms, baths, lot size, size of garage, type of home, roof, etc, all criteria that affects the value of your home. Properly done, a CMA will give you and your agent a fair Market value of your property, and a price acceptable to list it for sale.

A true CMA will only compare your property to others of similar size and style within a one mile radius. This is important when obtaining a Market Value for your home, since some areas of any town command a higher value for homes than others. You would not want to compare your home value if it were in the middle of town to a home on a hill offering beautiful panoramic views, or one sitting on the banks of a river! So locating homes of similarity within a one mile radius is important to finding a true value.

Please note, for all pratical purposes, a CMA is not an appraisal. An true appraisal must be performed by a licensed appraiser for the purposes of loan value, or taxable value for the county.

It is important to have the CMA before your home is listed for sale. This is a good assessment of what your house could potentially sell for, and helps you to understand how the REALTOR has formulated the value.

CMAs are not only for potential sellers, they are also useful for Buyers when they find a home that suits their needs, and are considering purchasing. Owners who are considering upgrading or remodeling their homes can benefit from a CMA to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. Part of his service to his clients has been to prepare a detailed CMA, making it most understandable on how he has obtained a Fair Market Value for his Sellers and Buyers. Robert can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Many times when people are ready to upgrade on a home they look at the current inventory of homes available, and consider building a new home as well. Today’s market has many advantages to either choice. Doing your homework, and working with a Professional Licensed REALTOR will make the decision and purchase process a lot easier.

Consider homes in your price range and have your REALTOR send you current and new listings that you can view in your e-mail. If there are any that look appealing to you, your REALTOR can make an appointment for you to view the homes. You may find a home with many features you like, and with the current Buyers market, go under contract rather quickly. We have many Buyers that have done their homework with our internet presence, making this option easy for them.

Do not forget there are new spec homes out there, and most are priced to move. Your REALTOR can search for these homes, and send them to you as well. The nice part of purchasing a spec home is not having to wait out the construction process, and finding a new home move-in ready.

Another option is to purchase a lot and build a new home. This is usually for those who want a particular home in a particular area, constructed exactly the way they want, with all the features they want. Nothing wrong with this option, I have done it quite a few times myself. I just ask people that choose this option to have patience! Construction done by a professional builder takes time, and I would rather have the process take longer than I expect, rather than a builder rush through it and have many things to redo later. I work with several quality builders, some that have their own lots to choose from as well.

So if you are ready to upgrade to a bigger and better home, call me to help you get the right home, in the right option, at the right time.

Robert P Bowman is a Licensed Professional REALTOR with CORNERSTONE REAL ESTATE PROFESSIONALS. He can be reached by e-mail loganrealtor@gmail.com or visit his website www.retireinlogan.com

Hire a REALTOR !

It is so important to have a Professional REALTOR on your side when searching for your dream home. Home ownership is a valued investment, and needs to be done right the first time. Too often people try to do it all on their own, and end up making mistakes that will haunt them for a long time. It is true we are in a good Buyers market and deals are out there, however connecting with a Professional REALTOR will help you to avoid these 10 Deadly Mistakes Buyers Make When Purchasing a Home

1) Making an offer on a home without being prequalified.

Prequalification will make your life easier – so take the time to speak with a lender. Their specific questions in regard to income, debt, etc., will help you determine the price range you can afford.

2) Not having a home inspection

Trying to save money today can end up costing you tomorrow. A qualified home inspection will detect issues many buyers can overlook. Well worth the investment.

3) Limiting your search to open houses, ads, or the internet

Many homes listed in magazines or on the internet have already been sold. Your best course of action is to contact a REALTOR. They have up-to-date information and are the best resource to help you find the home you want.

4) Choosing a Real Estate agent who is not committed to forming

a strong business relationship with you.

Making a connection with the right REALTOR is critical. Choose a professional who is

dedicated to serving your needs-before, during, and AFTER the sale.

5) Thinking there is only one perfect house out there

Buying a house is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities.

6) Not considering long-term needs

It is important to think ahead. Will the home suit your needs 3-5 years from now?

7) Not committed to one agent

Playing the field and using several agents at the same time may seem like a good idea, but you realize all agents use the same MLS system for current listings. You also want commitment from your agent; you will not get that working with more than one.

8) Not buying a home protection plan

This is essentially a mini insurance policy that usually lasts one year from the close of escrow. It usually covers basic repairs you may encounter and can be purchased for a nominal fee.

9) Not knowing total costs involved

Early in the buying process, ask your REALTOR or lender for an estimate of closing costs. Title company and closing fees should be considered. Pre-pay responsibilities such as HOA fees and insurance must also be taken into account. Remember to examine your settlement statement prior to closing.

10) Not following through on due diligence

Buyers should have a list of any concerns they have relating to issues such as; schools, crime, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase.

Contact your Professional REALTOR in Logan/Cache Valley, Robert P Bowman with Cornerstone Real Estate Professionals. Robert can be reached by e-mail loganrealtor@gmail.com or his website www.retireinlogan.com He has a team of lenders, title and escrow, inspectors, homeowner’s warranty, to make your home purchase a stress-free experience, as the purchase should be using a licensed REALTOR.

YES ! LENDING IS AVAILABLE

With all the negative news out there on the economy, many people are misinformed about the Real Estate market and the availability of lending. NEWS FLASH! Lending is available and the rates are more attractive today than they have been for some time. At this writing rates are at 5.5% for a 30 year fixed. This is great news for the people that have been waiting for the perfect time to buy. NOW IS THE TIME.

The most important part of obtaining financing is to meet with an honest lender, get pre-qualified, and make sure you know the up front cost for the loan. Some lenders have not learned from the past mistakes made by shady lenders, causing many people to get into loans they could not afford. True the Federal and State governments are working hard to omit these lenders from practice, never the less they still exist.

Good lenders are available and willing to work hard to get your business. They know most people have been waiting for rates to come down before they commit to purchasing a home. If your credit score, or FICO score is good, you have an income, and are diligent with payment of your bills, you should have no problems getting into an attractive loan that can be tailored to fit your budget. Most people are going with a 30 year fixed loan because, unlike Adjustable Rate Mortgages, they know what their payment will be for 30 years. There are 40 and now 50 year fixed loans available as well today.

I work with several lenders that have been in business for a long time, and are very reputable. I only work with lenders that service their clients as I do, with impeccable professionalism. There is no other way to do business in my book. Honesty, integrity, and getting the job done professionally are the keys to lasting relationships in business. For options on lenders contact me, and I will guide you to the perfect lender with the perfect loan to fit your needs.

Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals. He can be reached at 435-512-7214 or e-mail loganrealtor@gmail.com www.retireinlogan.com

If you have been considering purchasing a home, new or resale, there are several reasons why now is a good time to buy. In fact it is a GREAT time to invest, whether you are a first time home buyer, or looking to upgrade.

First, prices are lower now than they have been for a long time. The changed economic climate in the US and abroad means buyers have an opportunity not presented in decades. Once the market recovers, which undoubtedly it will, you will look back and pat yourself on the back for the smart timing you choose to buy.

This means Buyers are in control, and will be for some time. Not all bad new for Sellers, I will get to that soon. Buyers have an ample inventory in both new construction, and resale homes to choose from. Most have been on the market longer than the Seller wants, and are usually more open for an offer. In a hot market inventories are usually low, and it is not uncommon to have multiple offers on one home. This usually will bring in asking price, and even more. In today’s market Buyers are more in control to offer a bit less than asking, and also consider perks, as a home warranty.

Interest rates are very attractive today, wavering around 6% for a 30 year fixed, which is very good considering the times we are in. And the most important part, lending is available! It is very important to choose a good reputable lender, and one that will not gouge you with fees, points, etc. If your credit score is good and you have an income, it is best to get pre-qualified to see how much you should spend.

Now for the Sellers, it is not that bad. It is true you can not in most cases, get top dollar for you home today. This is true for new construction, or resale. But if you are looking to upgrade, and have had your eye on a certain home for some time, NOW is the time to bargain an offer with that home, and later with the equity, make up what you may not have got out of your current home. This makes even more reasons to have a Professional Realtor do a CMA on your home, and market it at the best price you can expect today.

Robert P Bowman is a Licensed Realtor with Cornerstone Real Estate Professionals in Logan Utah. He can be reached at 512-7214 or e-mail loganrealtor@gmail.com

www.retireinlogan.com