Whenever you buy or sell real estate, you may be like millions of other people out there, in thinking that you don’t need a real estate agent. Most people who buy or sell homes, generally think that a real estate agent is a waste of money. Those who choose to buy a new home, think that real estate agents only add to the cost of purchasing the home.
What most people aren’t aware of, is the fact that real estate agents are normally paid by the seller, not by the buyer. As a buyer, you’ll get to work with a professional real estate agent without really having to pay for it yourself. The policies can vary greatly from state to state and company to company, which is why you should always check any paperwork or contracts that are provided to you to ensure this is the case. When you are interviewing agents, make certain to ask about any type of fees as well.
A lot of real estate agents out there may work with both buyers and sellers, although most specialize in working with either the buyer or the seller. If you are buying a home, make sure that the agent you choose has prior experience of working with buyers and transactions that involve no money down. This way, you can count on your agent to be there when you need him the most - especially if you don’t have a down payment.
If you are interviewing a real estate agent and he or she isn’t familiar with down payment assistance programs, you shouldn’t hire their services. Agents who aren’t familiar with these types of programs generally aren’t on the level, or they may lack the experience necessary to help you purchase the home of your dreams.
You can also make a list of real estate agents that you can interview based on referrals from friends, lenders, and even family. Lender referrals are normally a great choice as most lenders have worked with their recommendations in the past and both are already familiar with each other. Choosing a lenders referral can also prevent you from encountering any obstacles or surprises.
When you interview a real estate agent, make sure that you have the agent explain his fees. This way, you’ll know exactly how much he will be getting from the purchase. You should also find out how much experience he has in the field, and how long he has been working with real estate. You can also ask about sample contracts as well. If you are buying a home, you should make sure that the agent works with buyers. If you happen to be selling your home, then you’ll want to make sure that the agent works with sellers. Agents that are dedicated to one or the other are the best to choose, as they will have more experience than agents who work with both buyers and sellers.
Find a real estate agent is an easy task - providing you know what to look for. If you take things one step at a time and carefully make a decision, chances are that you’ll end up with an agent who has the experience you want. You should always be careful when you choose, and never rush the process. Real estate agents are easy to find, although finding one who fits your needs and has your budget in mind is a little tougher to locate. When you make that final decision, you should always choose an agent who has your best interest in mind - and isn’t just after the money.

A lot of professionals consider that marketing for real estate agents is just about looking for clients, advertising, sites, brochures or newsletters.There are lots of “marketing” activities that result simply inefficient, time wasting and really demoralizing. Competent marketing for real estate agents is an ongoing activity defined by a number of steps. It is necessary that you see what true marketing for real estate agents is about; you will be amazed to witness how in 6 simple steps you create a winning strategy for your agency, one that will enhance your commercial image and propel your success. 1. Establish Aims Effective marketing for real estate agents is achieved by recognizing where you are and where you wish your agency to go. Detailed objectives present what you desire and how to get it. These should be founded on what you visualize yourself doing, possessing and being. Question yourself regarding what you want in terms of job, lifestyle and income. Your goals have to be SMART: Specific, Measurable, Achievable, Realistic and Timely. 2. Specify Your Main Clients You have to define, plan and target a specific group of individuals showing similar characteristics. You have to exhaustively know who your possible buyers are in order to understand why they would accept your service. True marketing for real estate agents is about holding sincere conversations with buyers about who you are and what you offer and building mutual faith and deference. To achieve this, you have to know every detail about the individuals behind a potential sale. Just then, you are able to deliver the accurate offering to possible buyers. 3. Create a Selling Message You have to distinguish yourself from the competitors within your arena by means of pluses, abilities and life experiences that are meaningful for your customers.4. Train your customers Good marketing for real estate agents lets you see that it is an ongoing training process. You have to deserve the buyer’s confidence and educate him on the facts in order to make him lastly acquire a property from you. Buyers first realize they can buy a property, then, they proceed to get facts, next they asses the different options they possess and lastly, they take action. You must recognize in which phase your buyer is in order to either begin from zero, clarify wrong ideas and get over objections or go for the sale.5. Establish a Recommendation Scheme Recommendations are essential in marketing for real estate agents, because these are the simplest way to get steady buyers. Tell your buyers that you expect recommendations and what sort you want. The more you remain fresh in your buyers’ minds, the more chances you possess of them talking to others about you. 6. Define a Monthly Selling Plan Based on the five preceding points, enforce genuine marketing for real estate agents with a detailed plan. Write your monthly objective in terms of potential clients, income or any other meaningful condition. Establish a weekly action program with events you will go to, individuals you will contact, meet or send information to, call on former buyers and writing articles.

The real estate industry is turning ferocious. There are innumerable real estate agents in the United States, making excelling an actual challenge. Every real estate agent is different, therefore, every real estate agent marketing campaign must match its subject. It is fundamental to utilize the trial and error rule with a number of ideas until you find the right plan for you, one that serves your style, finances and aims.Marketing can be intimidating; we show here several suggestions we hope can turn the path easier for you and are useful for attracting the correct users. We promise that one, two or all of these will be good for you once you are set to begin your real estate agent marketing adventure. First idea. Start a blog. A blog will serve you in expanding your real estate company in many manners and is simple to manage, making it effortless to share interesting and pertinent real estate articles. A bigger amount of superior content equals stronger Internet presence that equals being found on the Internet more easily and inspiring a positive response out of users. A blog gives you the chance to talk with your customers and meet them intimately, which is an important characteristic of any real estate agent marketing campaign trying to to convey to your customers that you care for them and their wishes.Idea number two. Increment on line presence. Your real estate agent marketing strategy wants you to gain as many future customers as you can. The web is an amazing instrument to touch persons in any corner of the globe, and once you unite a site, a blog, Internet news and writings, you can be positive users will reach you, as you are everywhere. You will pass as an authority as your business is widely covered.Third idea. Increase your direct marketing plans. The web is a significant real estate agent marketing means, however, there are others of the same worth. Direct marketing is highly effective to fortify and establish your real estate company too. Test several direct marketing instruments and research what is efficient; offer extra value to your communications so that people are prompted to act. Idea number four. Do public relations. Use it to boost your real estate agent marketing plan and strengthen your image. A piece in the town’s paper, a relevant press release or a free seminar in your community regarding hints to get a home, go a long way when aiming to imprint a solid image among customers. Fifth idea. Give people something to tattle about. Your venture counts almost completely on word of mouth, thus, help people to want to talk about you and your services continuously. Give distinctiveness which will turn you irresistible and that everybody will desire to communicate to others. Nothing is invalid, simply visualize what would impress your customers and find a way to offer it to them: free interior design tips, free landscape tips or a tour around their new city. Options are infinite. A real estate agent marketing plan is about imagination and, as any other business, about placing yourself in the customers’ place and surpassing their expectations. Go for it!

According to “Out of Reach”, the annual report of the National Low Income Housing Coalition (NLIHC), prices of many rental markets have increased sharply over the past few years making affordable housing difficult for low and medium wage workers.
The report reveals a marked disparity between people’s earning and rental housing costs. This difference is sizeable and has increased every year. In fact, the cost of rental housing has gone up by 28% in the past 7 years, much beyond the wages earned by the people who need affordable housing the most.
NLIHC calculated the hourly wage needed to afford the rent and utilities of a market rate rental home in each state. Affordable housing was defined as the cost of a two-bedroom rental home without having to spend more than 30% of one’s gross income on housing costs. The report terms this rate of affordability as the ‘national housing wage’, which has increased to $16.31 from last year’s $15.78.
Housing prices in many rental markets far exceed the wages of the renters, making them the least affordable rental markets. Based on the Out of Reach 2006 report, Hawaii stands at the top of the ten most pricy rental markets for a two-bedroom rental home. Listed below are top 10 most expensive states for rental housing:
1. Hawaii - hourly wage of $23.53 needed to afford a two-bedroom rental home.
2. California - hourly wage of $22.86 needed to afford a two-bedroom rental home.
3. Massachusetts - hourly wage of $22.65 needed to afford a two-bedroom rental home.
4. New Jersey - hourly wage of $21.21 needed to afford a two-bedroom rental home.
5. New York - hourly wage of $20.70 needed to afford a two-bedroom rental home.
6. Connecticut - hourly wage of $20.42 needed to afford a two-bedroom rental home.
7. Maryland - hourly wage of $20.07 needed to afford a two-bedroom rental home.
8. Rhode Island - hourly wage of $19.36 needed to afford a two-bedroom rental home.
9. New Hampshire - hourly wage of $18.10 needed to afford a two-bedroom rental home.
10. Alaska - hourly wage of $17.90 needed to afford a two-bedroom rental home.
The report concluded that a minimum-wage earner making $10,712 a year cannot afford even a one-bedroom home anywhere in the country. The reality is that a wage earner needs to make $28,475 per year to afford a two-bedroom rental home. Families with two minimum-wage earners need to make at least $33,925 to afford a two-bedroom rental home.

Foreclosures continue to rise across America. According to the latest annual report of http://Foreclosures.com, the number of foreclosures filed nationwide in 2006 had increased by 51 percent from the previous year, with foreclosure filings nearly topping one million. When compared to 641,000 foreclosure filings made in 2005 nationwide, almost 971,000 foreclosure filings were reported last year.
Among the States, California reported the highest number of foreclosure filings in 2006 with 157,417 foreclosures filed, which is an increase by 94 percent from the year before. California is followed by Florida with 120,989 foreclosure filings. Nevada struggled with the largest percentage increase in foreclosures in 2006 of 175 percent.
The Northeast region reported 96,101 foreclosures in 2006, an increase of 64.6 percent from 58,394 foreclosures filed in 2005. Still, a few states in the region, such as Maryland and Delaware, saw a decrease in foreclosure filings.
Foreclosure filings in the Midwest region of the nation went up beyond 70 percent with many states including Illinois, Michigan, Missouri and Nebraska facing increases of 80 to 96 percent. Industrial layoffs and a tough economy have spurted the number of foreclosure filings in this region, with foreclosure figures in states such as Iowa and Kansas increasing beyond 100 percent.
The Southwest region was the most affected with one out of every 2.2 foreclosures in the country taking place there. The region closed the books for 2006 with an increase of 37 percent from 162,259 foreclosures in 2005 to 220,189 foreclosures. Foreclosure filings in Colorado increased by 55.4 percent, while foreclosures in Texas increased by 35.2 percent. Although the region struggled with the high foreclosure rates, the figures are not all bleak for the region with a few states showing a decrease in foreclosure filings. Louisiana, New Mexico, Oklahoma and Oregon reported fewer foreclosure filings in 2006 when compared to 2005. These states have particularly reported a drop in foreclosure filings in the last quarter of 2006.
Although the foreclosure reports are not very cheerful, Alexis McGee, president of http://Foreclosures.com anticipates the housing market to improve soon. Overextended homeowners, who have been struggling to keep up with heavy debt loads, rising interest rates and property taxes, can soon look forward to some relief as home inventories come down and the market start looking up again. McGee also adds that the current housing market may be the best opportunity for home buyers in the next six years.

Green homes are eco-friendly homes that are energy efficient and use ecological design and sustainable resources. There has been a tremendous increase in awareness of the benefits of green building in America among builders and home owners alike. With home builders finding it easier to construct green homes, the number of green homes constructed throughout the country has gone up remarkably.
Ecological concerns and the increasing awareness of the advantages of green homes have led to an upsurge in green homes in the country. Concerns about the impact their homes have on the environment have prompted some homebuyers to opt for green homes.
Building green homes is no longer a remote concept these days. Over disturbing facts about global warming and indoor air pollution, today, the top priority of the National Home Builders Association and the American Institute of Architects is constructing green buildings.
There is sufficient data around that indicate that the building of green homes is on the rise. According to the figures provided by the U.S. Green Building Council (USGBC) (who developed the LEED (Leadership in Energy and Environmental Design) green building rating system), the number of buildings with LEED status in America has increased from 38 in 2002 to 669 now. Green buildings are progressively entering the mainstream with more and more buildings getting LEED certification.
Given that green buildings do not cost very much more than traditional buildings, and that they actually reduce energy bills, the building of green homes is on the rise. A green building is not only less expensive to live in but also spikes in value by 7.5 percent on average and improves return on investment by 6.6 percent on average.
Green building concepts begin to rise everywhere as the number of individuals who want to remodel, build or buy green homes are rapidly increasing. Architects and developers are responding to satisfy this growing demand. Green buildings have been found to appreciate faster than traditional buildings.
What was once a patchwork of green buildings in several cities has now increased to encompass whole communities and neighborhoods. According to a McGraw-Hill Construction survey in 2006, about two-thirds of builders would be building green homes in America this year. Green buildings are firmly mainstream now with federal government and 15 states requiring new public buildings to meet the LEED standards. In fact, four U.S. states and 17 cities offer incentives for private buildings built to LEED standards.
With rising government initiatives, consumer interest and the number of green developers and builders, the green building revolution is all set to go to a new level.

Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.
Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.
Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.
Las Vegas documented one foreclosure filing for every 31 households, making it the third highest in foreclosure activity among the 100 metro areas. It reported 22,928 foreclosure filings on 13,028 properties, double the number reported during the first half of 2006.
Six of the top 20 metro areas with the highest foreclosure rates were in California and four in Ohio.
The following are the top 20 U.S. housing foreclosure markets from Jan to Jun 2007, the total number of foreclosure filings and households per foreclosure filing.
1. Stockton, California: 8,169 foreclosure filings; one foreclosure filing for every 27 households.
2. Detroit/Livonia/Dearborn, Michigan: 28,705 foreclosure filings; one filing per 29 households.
3. Las Vegas/Paradise, Nevada: 22,928 foreclosure filings; one filing per 31 households.
4. Riverside/San Bernardino, California: 41,351 foreclosure filings; one filing per 33 households.
5. Sacramento, California: 20,516 foreclosure filings; one filing per 36 households.
6. Denver/Aurora, Colorado: 23,842 foreclosure filings; one filing per 42 households.
7. Miami, Florida: 20,275 foreclosure filings; one filing per 46 households.
8. Bakersfield, California: 5,365 foreclosure filings; one filing per 47 households.
9. Memphis, Tennessee: 10,800 foreclosure filings; one filing per 49 households.
10. Cleveland/Lorain/Elyria/Mentor, Ohio: 8,844 foreclosure filings; one filing per 50 households.
11. Fort Lauderdale, Florida: 15,720 foreclosure filings; one filing per 50 households.
12. Atlanta/Sandy Springs/Marietta, Georgia: 36,502 foreclosure filings; one filing per 54 households.
13. Fort Worth/Arlington, Texas: 13,221 foreclosure filings; one filing per 57 households.
14. Fresno, California: 4,867 foreclosure filings; one filing per 60 households.
15. Indianapolis, Indiana: 11,677 foreclosure filings; one filing per 62 households.
16. Dayton, Ohio: 5,966 foreclosure filings; one filing per 63 households.
17. Dallas, Texas: 23,284 foreclosure filings; one filing per 65 households.
18. Akron, Ohio: 4,378 foreclosure filings; one filing per 70 households.
19. Oakland, California: 13,482 foreclosure filings; one filing per 70 households.
20. Columbus, Ohio: 10,706 foreclosure filings; one filing per 70 households.

It seems that the decision makers running the Fannie Mae and Freddie Mac government refinance programs did not learn anything from the current, and continuing, housing bust.  If bad loans got us into the current mess, why do Fannie and Freddie think that more bad loans will get us out?  In a recent press release it was announced that the two government-owned agencies will now refinance loans up to 125% of the current homeâ??s value!

Does this spell trouble for the FHA home loans? All facts from the mortgage industry and government point to the fact that mortgage default rates take a huge spike upwards with high loan to value loans.

I would venture to say that many of the mortgage debtors (in trust deed states) may not realize that by refinancing through this program, they will be going from a non-recourse loan to recourse refinancing, in many cases.

My bet is that actions like this will give a false sense of recovery for awhile, only to have us fall further in the future, much like the stimulus money is currently doing.

In his statement FHFA Director Lockhart said, â??The higher LTV refinancing will allow more homeowners to strengthen their finances.â? Do you really believe this? If the government really wanted people to stay in their houses, they would allow them to go into foreclosure and help them find alternative housing. Moving them into a 125% LTV recourse loan is setting them up for disaster and setting taxpayers up to take on the resulting new losses.

Perhaps the government is not being 100% honest in their touting this 125% refinancing program as a way to help people stay in their houses. In reality, it may actually be a way to help banks keep from writing down assets while they earn enough money to increase their capital base.

Some folks like to say that where California goes, so goes the rest of the country.  The â??tax and spendâ? government in California did not yet come up with a comparable plan and have been beat to the punch by the Feds.  Californiaâ??s 26 billion (or more) deficit, the absence of a viable budget, and the need for issuing IOUâ??s rather than cash payments, is no excuse.  Only a few months ago California tossed out $100 million towards a credit to new home buyers for 5% of the purchase price (up to $10,000).  Now that the first pot of money is depleted, there are two new bills pending in Sacramento proposing to double or triple the original $100 million.

Decide to Buy

The first step in buying a house is to try and understand what you hope to achieve. When you begin to think about buying a new house, there are many questions you should ask yourself such as: Why do I want to move? How soon do I want to move? How long do I plan on living in the home? For some people renting or putting off buying makes sense. Expect to commit to your home for 3-5 years if you want to avoid losing money on the home.Needs Analysis

Once you decided that home ownership is right for you will want to decide a few things: What are the most important features to you in a house? How much do you want to invest in your home? Initially? Every month? Do you have lifestyle changes coming, such as adding a baby, having kids move out, or retiring? What part of town do you want to live in? What school district do you want your kids to go to school in? Once your goals are clearly defined you have your target.Get Pre-Qualified

An important part of the home buying process is to be qualified for a loan. You should get a “pre-qualification” letter before you start actively looking for a house. Most lenders can provide this over the phone or with a simple 1-page questionnaire. This typically takes 20 minutes. Some data you should have ready is your and your spouse’s name, address, phone numbers, social security numbers, and past two years of employment, residential, bank, asset and debt information. If possible, you should try to get pre-approved for a loan which is a more serious level of commitment from a lender than a pre-qualification. To receive a loan pre-approval, all employment and credit is verified. This will mean that you are approved for a loan, subject to a final credit check and an appraisal of the subject property.

Make sure to inquire about all loans costs (origination fees, discount points, etc) and find out about closing costs. Closing costs are the fees for services, taxes or special interest charges that surround the purchase of a home. They include up front loan points, title insurance, escrow or closing day charges, document fees, prepaid interest and property taxes. Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. Unless, these charges are rolled into the loan, they must be paid when the home is closed. Finally, make sure your lender provides a Good Faith Estimate according to the Truth in Lending Act (Regulation Z). This allows you to “compare apples to apples” between different lenders.Home Search

After you’ve found a house that you like, fits your needs, and has potential, you’ll need to prepare an offer. Determine whether or not the house is priced fairly by doing a thorough Comparative Market Analysis. Then review the seller’s disclosure and make appropriate adjustments and write your initial offer. Offers should include an earnest money check (made out to a title company), and an option money check (made out to the seller).

Some of the words in the previous paragraph may not be familiar to you. Let’s look at them:

Decide to Sell

Deciding to sell your home is a big decision. The first step in this process should be to understand your motivations, expectations, financial considerations, goals and what you plan to do upon the sale of your home. Many people begin the sale process with unrealistic expectations or unclear goals. It then becomes difficult to meet their goals because these goals have never been clearly defined. You must begin to view your house, no longer as your home, but as an investment property that you want to market.Setting the Price

Of course one of your most difficult questions is the listing price of your house. What price should you ask? This is an important part of the sales process. If you set the asking price too high, you may scare away buyers. Agents who feel that your house would not be a good investment may not even show the house. After the house sits on the market for a while, people begin to feel that there is something wrong with it because it hasn’t sold. Even if you could sell your house for an inflated price, many times a lender won’t approve a loan on a house that doesn’t appraise for that amount and the sale might fall through at the last minute. If you under price the home, you won’t realize the maximum potential of your investment.Marketing Plan

Decide on incentives that to be offered to buyers, determine the best places to advertise, and determine how to show the home. Remember that that goal is to sell the home for the highest price, in the least time, with the fewest hassles.Prepare the Home for Showing

There are two important ways that you can have an impact in making your house attractive to buyers: property condition and listing price. After deciding on a listing price, setup an appointment with a decorating company. They will give you some suggestions for making your house look its best. This process is called “staging.” The suggestions might be simple such as clearing cluttered counter tops. Or they might be more involved such as painting front doors or repairing obvious defects.

The staging company will look at your house from room to room and will offer advice on how to make each room show great. They will also look at the exterior street appeal, backyard and garage. They have a lot of tips that can make your house shine. After this meeting, you will have a list of what you should do to prepare your house for sale. Following these suggestions in a timely manner will ensure your home shows at its best.

Remember that “staging” addresses the appearance of the house and not necessarily other problems, which might become evident during an inspection. An inspection will uncover most defects that eventually may have to be repaired. In this way you can have the repairs done before a potential buyer’s inspection uncovers a defect that might cause a buyer to either change his mind or to want a substantial repair allowance deducted from the price. It is a signal to buyers that you are a responsible, reputable seller. It also allows you to have plenty of time to schedule any work that might need to be done.

Offer a residential service contract to buyers. This guarantees the major appliances in your home as well as other systems and structures. You can also include coverage for your house while it is on the market so you don’t have to pay for any unexpected repairs.Marketing the Home

Now the fun begins. Here are some ideas that can be used to promote your home.

It is important for you to keep your house in perfect condition everyday because buyers or agents might come by at any time. Keep the kitchen clean, make your bed every morning and keep clutter out of sight. It is especially important to keep pets and pet odors under control. Some wonderful added touches are fresh flowers and potpourri or freshly baked cookies.

As agents and potential buyers begin visiting your home either virtually on the Internet or in person, try to obtain feedback from the buyers. Make changes to the showing state, condition, and price as feedback deems necessary.The Offer and Negotiation

You have an offer, now what? Sometimes the buyer will offer you the asking price and have no special requests. In this case, you sign that you accept the offer. Sometimes, the buyer’s offer is a lower price and might have other requests. You should consider what is best for you and make a counter offer. Consider carefully your response because if you counter offer, there is no guarantee that the buyer will respond again. Also remember that, once agreed upon and signed by all parties, an offer becomes a legally binding contract. Never get involved in oral offers and negotiation. If you verbally accept an offer, a buyer has no legal obligation to buy the house and may want to continue to bargain with you to see how low a price you will accept.

No matter how well you have prepared your house and how fairly you have priced it, there is always the possibility of receiving a low offer. It could be a limit to the buyer’s ability to purchase. Don’t take it personally and react angrily. This is business, it’s not personal. You can either reject the offer or make a counter-offer. Try to find out as much as you can as to why the offer was low. Certainly if other offers come in very low or if your home is not being shown or not receiving any offers consider adjusting the pricing.

Once the buyer and seller agree on the terms, the buyer will have the home inspected. If there are any problems that are found during this time period then the buyer can withdraw from the contract. The buyer might request that you complete certain repairs before closing or that you contribute a certain sum of money at closing to cover these repairs. If this happens, try not to let contract fall through. After the limited time period is up, the buyer is legally bound to buy your house unless they are denied financing. In the event of cancellation, the buyer would lose any earnest money. One exception to this is in the case of the buyer not receiving funding from the lenders. In that case then the buyer is not held responsible. For this reason, always ask the buyer’s agent for a letter showing that the potential buyer has been prequalified for a loan and, once a contract is signed, ask the buyer’s agent to keep you informed of the buyer’s loan application progress.Closing

The exciting day is finally here! Verify in advance that all of the paperwork is in order. Request a copy of the HUD1 statement sheet so that you can read over it before closing. Feel free to ask any questions either before the closing or during the closing itself. Typically this is when you relinquish possession of the house so take the keys to give to the new owner.