Holiday Shoppers Beware
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Real Estate Agent |
RAINER 1,380 |
| Irene Geyer | ||
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Shawnee, KS
— Keller Williams
Keller Williams Realty Inc. |
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| web Irene Geyer's (irene1) Blog | ||
Get to Know Irene Geyer
With many homes for sale, finding the right one could be a little like sailing the sea without a compass.
The drive from one open house to another takes time, and even the most diligent seeker will miss opportunities. There are many more homes available on multiple listings that an individual may ever know about.
Real estate agents have access to all of these homes. They can assess a buyer's needs and wants and determine which listings could fill the requirements. After that, several homes with the right square footage and in the right price range can be viewed in an afternoon or two.
Factors the agent takes into consideration include the area that interests a buyer, how long various homes have been on the market, whether owner and buyer could agree on a possession date, and how to make the best offer.
In real estate, human factors play an important role. They may include a work-related move, an addition to the family, the death of a loved one, or the fact that children have grown up and a large home is no longer needed. Few listings give this information, but the agent is familiar with them.
While it is true that agents also represent some of the home owners, their goal is to create a good relationship with both. That matters because the buyer or seller may later recommend the agent to others, and either party may buy another house in the future.
With negotiation, a favorable deal can be created for both parties. The agent knows whether the property owner has room to negotiate and what the buyer's limitations may be. It could be a perfect fit. Give me a call--let's talk.
Certifications
A 2006 survey by the National Association of Realtors found that 92 percent of home buyers financed their home and the typical buyer finances 91 percent of his home. Age and experience were big factors in how buyers financed their homes.
As you might expect, first time buyers were most likely to finance. Usually younger buyers, first-time buyers don't have cash from the sale of another home to put toward their purchase. They tend to have lower down payments and the average first-time buyer finances 98 percent of their home. Buyers age 45 and older are less likely to finance a home purchase, and the number of buyers who finance decreases significantly after age 65. These are often repeat buyers or people who are downsizing.
Of the people who do make a down payment, money from savings is the chief source of down payment funds for home buyers overall and that was also true for 73 percent of first-time buyers who had a down payment. About 40 percent of repeat buyers drew on savings for a down payment, while 62 percent of repeat buyers used the proceeds from the sale of a primary residence for a down payment.
The second most popular source of down payment funds for first-time buyers was a gift from relatives or friends (22 percent).
Once they decided to finance a home, about 71 percent of recent home buyers chose a fixed rate loan. About 8 percent had an adjustable rate loan. First-time buyers were more likely than repeat buyers to start with a fixed rate loan that eventually had rates adjusted.
Surprisingly, 3 percent of home buyers don't know what type of mortgage they have.
If you want the expertise of a professional agent, give me a call. I am licensed in both Kansas and Missouri, and work with both buyers and sellers.
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There are some wonderful affordable homes in the local market. Log on to my website at www.irenegeyer.com for a complete list of all available homes in the KC Metro area (or I can mail you a list).