As I was reading an email from an escrow agent, she had this posted below her signature - it really hit home with me and I would like to share it.
A veteran - whether active duty, retired, national guard or reserve - is someone who, at one point in their life, signed a blank check made payable to "The United States of America ", for an amount of "up to and including my life." That is Honor, and there are way too many people in this country who no longer understand it. --Author Unknown
I know this is a real estate blog, if you are reading this please take a moment and be thankful for everyone who is actively serving or who has served so we can continue to have the freedom and privilege for living in this great Country.
For those of you who may be wanting to purchase a home, there are fantastic loan programs available for the Veteran, don't wait to see if the market is going to get better - it is a great time to buy today; interest rates are still at a very low rate! Sellers are a little bit more flexible with their prices on their homes as well. Take advantage of our market. If you would like more information please call me at (210) 681-0300 or send me an email sheila.anderson@century21.com
Tuesday, July 29, 2008
Thursday, July 17, 2008
Pricing your home the right way
This e-newletter was sent to me from Flores Law Office - I thought it would be helpful for everyone who is wanting to know how to find the value of their home - and who should be the one to give them the most accurate information. Please let me know if I can be of any assistantance. I hope you find this article informative.
The Importance of an Appraisal****************************** An appraiser is a professional person who can tell you what your home is worth. The appraiser will come to your house and list the number and size of the rooms and any extras, such as a fireplace, porch, pool, or garage. The appraiser will compare your home and property to other homes that have sold recently with similar features. The appraiser then estimates that your home might sell for approximately the same amount of money as similar homes. This is called an "appraisal." In short, anappraisal is the estimated amount of money your home may sell for.What is a Real Estate Appraiser?********************************A real estate appraiser is an impartial, independent third party who provides an objective report on the estimate of value of rea lestate. The appraisal is supported by the collection and analysis of data. A real estate appraiser values real property (land, houses,buildings, etc.), not personal property (cars, jewelry,furniture). The appraiser determines the physical characteristics of the property to be appraised and estimates value based upon three common approaches to value: * Sales Comparison Market Approach * Cost Approach * Income Capitalization Approach A state licensed real estate appraiser meets nationally established standards for education and experience, and successfully passes a comprehensive examination. A state licensed appraiser conforms to national ethical and professional standards, which establish the standards for ethics, competency and confidentiality governing professional appraisal practices. Home Inspections Are Not Appraisals*********************************** A property appraisal is a document that provides an estimate of a property's market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers. The Federal Housing Authority (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), requires lenders to obtain appraisals of properties securing FHA-insured loans. FHA requires appraisals for three reasons: * To estimate the market value of the property. * To make sure that the property meets FHA minimum property requirements/standards (health and safety). * To make sure that the property is marketable. The FHA appraisal process will note property deficiencies that are readily observable and found not in compliance with HUD's minimum property requirements/standards. These deficienciesmay not be the same as those items noted in a home inspection report.When Should I Use An Appraiser?******************************* You will likely need the services of a real estate appraiser whenever an estimate of the value of your real estate is required. Most commonly, this occurs when you apply for a real estate loan, either to purchase or refinance your home. You may also need a real estate appraiser to assist in the appeal of your property tax assessment, for insurance purposes, for probate and estate settlements or other reasons. What's My Property Worth?************************* It is common to ask the appraiser this question as soon as the appraiser has inspected the property. The truth is at that time the appraiser doesn't yet know. The inspection is the first step of many that the appraiser must complete before a value is determined. The appraiser measures the house from the outside to determine square footage. The appraiser takes notes concerning the features of your house such as room layout, number of bedrooms, baths, etc. The appraiser also makes a determination of the general condition, appeal and functional layout of your house. All of these items are taken into consideration in the appraisal report. How Long Does an Appraisal Take?******************************** The physical inspection of a typical property usually takes about twenty to forty-five minutes. Sometimes an inspection can take longer if the house is difficult to measure or has some unique features that require additional investigation by the appraiser. After the initial inspection of the property the appraiser spends time examining or analyzing the neighborhood or area. The purpose of this is to search for other properties that are similar to the property being appraised that have sold recently and examine neighborhood influences. When the fieldwork is finished, the appraiser completes the report at his office.What Does The Appraiser Need to Know?************************************ To help the appraiser complete the appraisal, you can provide some information that is helpful. Please tell the appraiser of any previous sale on the property within the last 12 months. Indicate if there is a pending contract to purchase on the property. Does the property have any right of way or other easements? Is there structural damage, or water leakage in the house? Is the property in a flood zone? Basically, inform the appraiser about any hidden features or detriments to the property. How Do I Choose an Appraiser?***************************** Although federal and state laws usually require that the lender must hire the appraiser when the appraisal is to be used for a real estate loan, some lenders will allow you to select an appraiser from their list of approved appraisers. For all other appraisals, you are allowed to select your own appraiser. Licensed real estate appraisers can be found on the internet or by talking to your friends who have previously used an appraiser. Be sure to interview the appraiser carefully to determine if he or she is licensed and experienced in appraising your type of property. Most licensed appraisers will provide an advance estimate of the cost to perform the appraisal, and many will commit to a fixed fee for the appraisal. It is always wise to obtain a written contract for services which includes a description of what is to be appraised, the scope of the assignment, the anticipated delivery date, the fee and terms of payment.
The Importance of an Appraisal****************************** An appraiser is a professional person who can tell you what your home is worth. The appraiser will come to your house and list the number and size of the rooms and any extras, such as a fireplace, porch, pool, or garage. The appraiser will compare your home and property to other homes that have sold recently with similar features. The appraiser then estimates that your home might sell for approximately the same amount of money as similar homes. This is called an "appraisal." In short, anappraisal is the estimated amount of money your home may sell for.What is a Real Estate Appraiser?********************************A real estate appraiser is an impartial, independent third party who provides an objective report on the estimate of value of rea lestate. The appraisal is supported by the collection and analysis of data. A real estate appraiser values real property (land, houses,buildings, etc.), not personal property (cars, jewelry,furniture). The appraiser determines the physical characteristics of the property to be appraised and estimates value based upon three common approaches to value: * Sales Comparison Market Approach * Cost Approach * Income Capitalization Approach A state licensed real estate appraiser meets nationally established standards for education and experience, and successfully passes a comprehensive examination. A state licensed appraiser conforms to national ethical and professional standards, which establish the standards for ethics, competency and confidentiality governing professional appraisal practices. Home Inspections Are Not Appraisals*********************************** A property appraisal is a document that provides an estimate of a property's market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers. The Federal Housing Authority (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), requires lenders to obtain appraisals of properties securing FHA-insured loans. FHA requires appraisals for three reasons: * To estimate the market value of the property. * To make sure that the property meets FHA minimum property requirements/standards (health and safety). * To make sure that the property is marketable. The FHA appraisal process will note property deficiencies that are readily observable and found not in compliance with HUD's minimum property requirements/standards. These deficienciesmay not be the same as those items noted in a home inspection report.When Should I Use An Appraiser?******************************* You will likely need the services of a real estate appraiser whenever an estimate of the value of your real estate is required. Most commonly, this occurs when you apply for a real estate loan, either to purchase or refinance your home. You may also need a real estate appraiser to assist in the appeal of your property tax assessment, for insurance purposes, for probate and estate settlements or other reasons. What's My Property Worth?************************* It is common to ask the appraiser this question as soon as the appraiser has inspected the property. The truth is at that time the appraiser doesn't yet know. The inspection is the first step of many that the appraiser must complete before a value is determined. The appraiser measures the house from the outside to determine square footage. The appraiser takes notes concerning the features of your house such as room layout, number of bedrooms, baths, etc. The appraiser also makes a determination of the general condition, appeal and functional layout of your house. All of these items are taken into consideration in the appraisal report. How Long Does an Appraisal Take?******************************** The physical inspection of a typical property usually takes about twenty to forty-five minutes. Sometimes an inspection can take longer if the house is difficult to measure or has some unique features that require additional investigation by the appraiser. After the initial inspection of the property the appraiser spends time examining or analyzing the neighborhood or area. The purpose of this is to search for other properties that are similar to the property being appraised that have sold recently and examine neighborhood influences. When the fieldwork is finished, the appraiser completes the report at his office.What Does The Appraiser Need to Know?************************************ To help the appraiser complete the appraisal, you can provide some information that is helpful. Please tell the appraiser of any previous sale on the property within the last 12 months. Indicate if there is a pending contract to purchase on the property. Does the property have any right of way or other easements? Is there structural damage, or water leakage in the house? Is the property in a flood zone? Basically, inform the appraiser about any hidden features or detriments to the property. How Do I Choose an Appraiser?***************************** Although federal and state laws usually require that the lender must hire the appraiser when the appraisal is to be used for a real estate loan, some lenders will allow you to select an appraiser from their list of approved appraisers. For all other appraisals, you are allowed to select your own appraiser. Licensed real estate appraisers can be found on the internet or by talking to your friends who have previously used an appraiser. Be sure to interview the appraiser carefully to determine if he or she is licensed and experienced in appraising your type of property. Most licensed appraisers will provide an advance estimate of the cost to perform the appraisal, and many will commit to a fixed fee for the appraisal. It is always wise to obtain a written contract for services which includes a description of what is to be appraised, the scope of the assignment, the anticipated delivery date, the fee and terms of payment.
Tuesday, July 15, 2008
Choosing an Agent to Sell Your House
There was very interesting article in the The Wall Street Journal yesterday on having to sell a home today and what you need to do. The one part that really caught my eye was the fourth item, Hire a top real estate agent.
4. HIRE A TOP REAL-ESTATE AGENT.
Get the best, most aggressive selling (listing) agent you can find. When everything was selling before it even hit the market, of course, you didn’t need the best. You just needed the cheapest. But not these days.
Fortunately, in this market, real-estate brokers are even more anxious than you. They’re eager to get whatever work they can, so don’t rely on your cousin with the real-estate license or your best friend’s wife.
Ask, instead, for the local real-estate office’s top salesperson. All offices have one or two sellers who greatly outperform their colleagues. That’s who you want.
Interview various agents and insist that they present you with a well-conceived marketing plan that goes way beyond the usual Internet page, one or two open houses and a yard sign. (Think about using a professional photographer for multiple shots on the primary Web listing, your house as the featured “home of the week” in the local newspaper, a decorating segment on a morning chat show, a stop on the local garden club’s spring tour.)
Sellers of higher-end properties should be able to negotiate a lower commission percentage, but this is no time to quibble over a couple of percentage points. Also, offer the agent a big bonus if he or she sells the house in 30 days or at your asking price. Offer other agents bonuses if they bring in the ultimate buyer. via WSJ.com
Sellers need Well-Trained, aggressive agents with an aresenal of marketing tool and resources at their disposal. Avoid making the mistake of letting just any agent list you home. Email me today at sheilaandrs@aol.com
4. HIRE A TOP REAL-ESTATE AGENT.
Get the best, most aggressive selling (listing) agent you can find. When everything was selling before it even hit the market, of course, you didn’t need the best. You just needed the cheapest. But not these days.
Fortunately, in this market, real-estate brokers are even more anxious than you. They’re eager to get whatever work they can, so don’t rely on your cousin with the real-estate license or your best friend’s wife.
Ask, instead, for the local real-estate office’s top salesperson. All offices have one or two sellers who greatly outperform their colleagues. That’s who you want.
Interview various agents and insist that they present you with a well-conceived marketing plan that goes way beyond the usual Internet page, one or two open houses and a yard sign. (Think about using a professional photographer for multiple shots on the primary Web listing, your house as the featured “home of the week” in the local newspaper, a decorating segment on a morning chat show, a stop on the local garden club’s spring tour.)
Sellers of higher-end properties should be able to negotiate a lower commission percentage, but this is no time to quibble over a couple of percentage points. Also, offer the agent a big bonus if he or she sells the house in 30 days or at your asking price. Offer other agents bonuses if they bring in the ultimate buyer. via WSJ.com
Sellers need Well-Trained, aggressive agents with an aresenal of marketing tool and resources at their disposal. Avoid making the mistake of letting just any agent list you home. Email me today at sheilaandrs@aol.com
Monday, July 14, 2008
Welcome to My Real Estate Services Blog
Hi. Welcome to my new blog! I have created this blog as a service to my customers and clients as well as the San Antonio community. I love this town. As a real estate professional in San Antonio for over 13 years, I have acquired a lot of knowledge in buying, selling and investing in and around the San Antonio Area. My plan is to update weekly with advice for dealing in Real Estate in the area. Please feel free to email me at anytime. My email address is in the links section. I look forward to your questions and comments.
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