Buyers - Did You Know?
1. As a buyer, Realtor fees are paid by the Seller when you purchase a home.
2. Buyers’ Agents, like myself, work for you, the purchaser.
3. The listing agent works for the seller and is contractually obligated to act in the sellers’ best interests.
4. Prices are way down (about 50%). Remember the old saying, "Buy Low, Sell High"
5. Interest Rates are Low (some 30 year fixed rates around 5%).
6. $8,000 Federal Tax Credit is available for 1st Time Buyers
7. You may be able to purchase a home for less than rent.
8. Low/No Down Payment Programs are Available for Qualified Persons
9. Most foreclosures in "good condition" are on the market for less than a week.
10. Sellers will not consider any offers without a "lender letter of qualification" for financed transactions or a "proof of funds" letter for cash purchases.
11. Gift money from family members may be used as part of your down payment with some financing programs.
12. Seller help to pay closing costs may be possible. There are a couple of ways to do this. We will discuss them further once we start viewing properties
13. The foreclosure market in the Northern Virginia area is very competitive for the "best properties". If you plan to purchase in the next 6 months, I suggest you start your financing and home search right away. Foreclosures are normally sold similar to a "silent auction". You place you best offer/bid and the highest bid wins. The bank may use other criteria in their selection process, but price is usually the most influential factor. You will probably need to submit a number of offers before one is selected as the winning offer.
14. Banks are doing many more "mortgage modifications" to help homeowners avoid foreclosure, so there are fewer foreclosures now than last year. This means less supply and more demand for "quality properties" which is the driving force for an increase in home prices. Get your home now while prices are down.
15. THIS IS THE BEST TIME IN YEARS TO PURCHASE A HOME! GET STARTED AND FIND YOUR NEW HOME TODAY.
Thanks for taking the time to read this information. I hope it has been beneficial. I take great pride in assisting my clients/friends in the purchase of their new homes. I want to be upfront and honest so you know just what to expect throughout your homebuying journey. Purchasing a home does take some effort and purchasing a foreclosure is hard work, but in the end, it is worth it. I will do my best to make the purchase of your new home as easy and painless as possible.
As you can see, I do not sugarcoat information. I've been a Realtor in Northern Virginia for many years now and helped hundreds and hundreds of clients. I will tell you exactly what I think. If a property is a good value or overpriced for the market, I will let you know my opinion. I track the market daily so I know what is going on from day to day. As we are viewing properties I will update you as to the current market conditions. So, if you want a Realtor who will be truthful and straight forward with you, give me a call. Thanks again for your time.
