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Thursday Thriller


 

 

Are you getting the best quality service from your real estate service?  Looking for the best quality service?  Work with an agent that has your best interests at the top of the list.  Visit www.VickieGylling.com for more information.

Using the builders agent, is this in your best interest?


The decision has been made, you are not only going to buy a new home, you have decided to build. In every model you went through, there was an agent there and you found one that you really like. Being the expert in real estate you are, you decide that you will use the builders agent. Along with convenience, many people think they will get the agent to cut commission because they are working both sides of the transaction, their interests will be protected and the service will be of the utmost quality.

Are you really sure you know what you are doing? What most people don’t realized is the agent that represents the builder has a contract with that builder and their FIRST duty of responsibility in the transaction will be to the builder. The builders agent still has a fiduciary responsibility to protect the buyers interests and has to be careful what they tell the builder about the potential buyer, but any pertinent facts the buyer tells the agent, that agent may tell the builder, such as qualification of dollar amount, time frames, and any other information that may lead the builder to think twice about working with a particular buyer. For instance, if there are two parties talking with the builders agent and they are both thinking about building on a particular piece of land and both parties have informed the builders agent what they plan to offer, the builders agent may tell the builder the prices or information they know. This could work against the buyer in obtaining the piece of land they would like to build on.

Some buyers think that if they work with the builders agent, they will get a reduced commission or the dollars will be applied as a credit to the build. This could not be more incorrect. The agent working for the builder has already signed a right to represent contract with that builder that will protect the commission on the sell side. What people don’t realize is that the property is listed on the MLS with a pre negotiated pay out for the buyer agents side of the sale. The agent may cut some of this pre-negotiated commission, but many will not completely cut their pay they are to receive for the buyers side. The builder, by law, can not issue the buyer a kick back of any sort as it is against the law. The only persons in the transaction that can receive payment from the purchase is persons that are licensed by the state with an active license and all dollars or funds MUST be disclosed on the HUD at closing.

So when you are thinking about building, make sure your interests are protected as strongly as the builder you are working with and have your own representation. Your agent, once working under a buyers representation contract signed by both you and the agent, is required to work for your best interests. This representation should start from the moment you start to consider working with a builder, to the platting of the home on the land, the selections, the periodic walk through you will want to do, negotiations, closing and all in all making sure that you get the home you truly want, not the one you have to settle for.

Your Minnesota Real Estate agent providing quality service whether buying, selling or relocating. Experienced in short sale & foreclosures. Learn more at http://www.VickieGylling.com.

The Mistress in Real Estate


Many have bought their first home or may be even a second or third one.  Each time you bought a home, did you hear that infamous line;  “it’s a buyer/sellers market” and off you were to look at homes.  Did your Real Estate agent ever tell you about the mistress you would have to deal with when you bought your home?

You didn’t know there was a mistress in your deal? Well, there is or was, depending on where you are at in the process.  If you are a buyer, right now, you think the market is yours to control.  You can ask the seller to pay some of  your closing costs, contribute to point buy down, have the seller maybe provide a year or so home warranty program.  If you are buying an association home, you may even ask the seller to pay one or two years of association dues.  How about that big screen TV or the couch that makes the room.  Did you ask the seller to through that into the deal?

What if you are the seller. Right now you may feel like your hands are tied and you have to pretty much give your home away.  Maybe you did through that TV/couch in the deal, paid those association dues or purchased the home warranty program the buyer asked for.  Maybe you went as far to include a car in the garage with the deal.  No, I am not making this up, this is one crazy thing I have seen offered for the right price for the home.

Well, what about the mistress that REALLY controls the deal whether you are a buyer or a seller.  You don’t know to whom I am referring to? The Government.  They are the ones that have more control over a deal than even a  buyer or a seller.  Since the crash of the market, the Federal Government has really had more control over any deal.  Whether it is contributing an incentive program to bring the buyers out, to the taking away of the incentive or raising interest rates, yes, they have more power in the deal than one thinks.

Lets also look at how the government is compensating for all the short sales/foreclosures that are happening.  The Government stood by and watched as many home owners homes went upside down.  They did nothing to the banks that sat around refusing to help persons on the verge of loosing their home, nor did they make the banks work with the owners to make payments affordable for those that wanted to stay in their home and were trying their best to work something out.  Instead, the government sat back as banks took anywhere from 9 months to over a year to respond to potential offers from buyers on contracts submitted.  Then some even claimed they were in financial ruins…but what about the sellers? 

Now, many persons have lost their homes even if they were trying to work something out with the banks and there are an amazingly huge number of homes that are sitting vacant.  How about the sellers that are trying to do a traditional sale?  They now have to contend with the never ending battle of how am I to sell my home and not be punished by the short sale/foreclosures on the market.  Their home will be appraised against the homes in their respective neighborhoods that have been sold at a discounted price due to hardships by the past owner.  Again, the government continues to let this happen.

Shouldn’t the government at least try to help sellers that have kept their heads above water and not just walked away from their home with some sort of break?   This would be a positive incentive and still keep some value in our neighborhoods.  How should the government do this?  Well, that is the million dollar question.  Maybe these sellers get a bigger break on their new interest rate or maybe they get a break on their taxes in the year the home was sold.   I am sure there is something this mistress of the government could do to keep the housing market alive and moving.

So the next time you are thinking of buying or selling a home, remember to consider the mistress you will have to contend with.  If you are a buyer, you will have to have a down payment, good credit and choose a program that you may have to work through many hoops.  If you are a seller, you may have to come to the table with some of your own cash to sell your home, or maybe it’s time to consider bringing back the CD’s to help in your sell.

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Tuesday Talk


How Cold is Cold?


It is Friday, January 21, 2011. If you are living in the Minnesota area, you know that the freezer door has definitely been opened on our state. It is 10 am and our current temp here is -15 and with the windchill they are saying it is about -35. How’s that for cold?

How does this cold affect your home? This type of cold can do a lot of damage to your home if you are not paying attention. With just a couple easy steps, you can elevate a lot of pain.

PIPES~ Most people think that the pipes are on the inside of the home and the home is heated so they should be fine. But do you know that the pipes that are located on exterior was and in cabinets will get cold. So if you can, leave the cabinet doors open so the heat from your home can get directly to the pipes. You can also put towels or by the pipe heating blankets.

WINDOWS~ Unless you build your home and put high quality windows in, the chances of having some sort of draft from your windows is very likely. Most of your box stores now sell plastic that can be placed on the trim work and keep these drafts out. This will also save you dollars as your heater won’t have to work so hard to keep heating the air.

DOORS~ Not only does our family & friends come and go from these area, but so do your dollars in the winter seasons. Invest a few dollars and put the foam around the doors to keep the cold drafts out. You may also want to invest in draft preventers that go at the bottom of the doors.

So with the economy straining our pocketbooks, why not take a few moments of your time and put some of those dollars back into your wallet? Invest a little time into your home and keep it warm.

THE SPIRITS TO MOVE hope you & your home stay warm!

Your Minnesota Real Estate agent providing quality service whether buying, selling or relocating. Experienced in short sale & foreclosures. Learn more at http://www.VickieGylling.com.