5 Reasons Why You need to Hire a Real Estate Professional When Buying or Selling

The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

Whether you are buying or selling a home it can be quite an adventurous journey, which is 
why you need an experienced Real Estate professional to guide you on the path to your ultimate goal. In this world of instant gratification, Internet searches, and mobile apps, many sellers think that they can For Sale by Owner or FSBO. However, before you do that consider a few things...

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. OK, so you found your dream house, now what?

There are over 180 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to make sure that you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $185,000 compared to $245,000 among agent-assisted home sales.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the Internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively, and correctly, price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make the biggest, most important financial decisions of your life without hiring a Real Estate professional? So when you're looking at buying or selling please contact us, the Springs Summit Group, we are more than happy to assist you with all your Real Estate needs, and make the whole process as smooth as possible. 

Article content from: http://www.keepingcurrentmatters.com/

Edited by Seth Worthey

4 Tips for Effectively Making an Offer

So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true! 

Here are 4 steps that can help make that dream a reality!

1. Understand How Much You Can Afford

“While it's not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ should really take place before you start your home search process.

As we’ve mentioned before, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.” 

According to the latest Existing Home Sales Report, the inventory of homes for sale is currently at a 3.7-month supply; this is well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market!

4. Be Prepared to Negotiate

“It's likely that you'll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you'll be glad you did your homework first to understand how much you can afford.

Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home." If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract.

Bottom Line 
Whether you’re buying your first home or your fifth, having a local professional on your side who is an expert in their market is your best bet in making sure the process goes smoothly. Here at the Springs Summit Group we're happy to assist you with any of your Real Estate needs. If your buying, or selling we want to be there for you every step of the way, so contact us today!


Article content: http://www.keepingcurrentmatters.com/2017/05/16/4-tips-for-effectively-making-an-offer/

Edited by: Seth Worthey

Generational Trends

Each generation is different and recognizing these differences is key to understanding these trends. 

The National Association of Realtors has been writing the Home Buyers and Sellers Generational Trends Report since 2013 to determine the similarities and differences between generations when it comes to real estate transactions.

According to their current findings, the largest share of home buyers are those 36 years and younger, also known as 'Millennials'. Sixty-percent of these buyers were also first-time home buyers.

The second largest group of buyers were between the ages 37-51, 'Gen Xers'. They make up 28% of buyers. This generation is typically experiencing their peak years of earnings in their positions. This is the generation most likely to be married and have children under the age of 18 living in their homes and tend to search for properties based on these demographics.

The most common reasons for purchasing a home vary among the different generations, however NAR's research found that for those buyers 61 years or less, the main purpose of buying a home was to have property of their own. Those 62-70 years old were searching for a home to be closer to friends and family and to prepare for their retirement, while those 71 and older were more inclined to downsize.

Some similarities exist among the different generations. For example, nearly all of them start their home search online, except for those 71 or older. Those buyers typically reached out to a real estate agent to start their home search. In fact, all generations continue to utilize real estate agents. Buyers need the help of real estate agents to find the right home, negotiate terms of the sale, and negotiate pricing.

Regardless of your generation, and whether you're looking to buy or sell real estate, reach out to the Springs Summit Group to get started. We have highly experienced and knowledgeable agents available to answer your questions and guide you through the entire process. It can be a daunting adventure, let us help!



Article Content:
National Association of Realtors - https://www.nar.realtor/reports/home-buyer-and-seller-generational-trends

Narrated by: 
Kelsey Ruger

Edited by:
Seth Worthey

to help them

Market Cycle: Thoughts for Investors

Springs Summit Group

Market Cycle:

Thoughts for Investors

The more you know about the cycle the more profitable you can be in Real Estate investing

In order to be successful in the real estate business, it is crucial to not only to do research, but to learn and become familiar with the current market trends.  By understanding the market cycles, you as the potential buyer can make a wise investment decisions by developing a strong market strategy. This strategy can help you to weigh out the potential risks and rewards in investing at any point in the market cycle, and it is imperative to making a profit in of real estate.

The first advantage to knowing and understanding the market cycles is the ability to know when you are getting a good deal. As an investor you will make your most money on the front end, and many times sellers will overprice their properties based on the belief that their property’s value will appreciate. It is not wise to buy solely on expected numbers. If the property does not work on paper, why would it work at all?

When starting your Investment property search, it is wise to use real numbers rather than the hopes and dreams of the sellers made up numbers. A mistake like this can take you from the black to the red and of course ultimately out of the investing game entirely. To make the most money in real estate, always use actual numbers and buy properties with signs of growth and appreciation. If you study the market, and know you are in a current down cycle, it is important to know you are buying a property for a good deal. A deal that allows you to hold on to the property during the down time, with the possibility of still making profit.

If you are aware that a down cycle is going to occur, you may want to make sure that you have the freedom to gather up your resources in order to take advantage of the new buying opportunities that you may have. As a buyer, you can find a great deal in the down market because of all of the sellers who are looking to get rid of their properties. Being ready in a situation like this can set you up for some money saving deals that will bring you a great deal of profit later on. Buy low sell high.

Knowing the market cycles can help you design a proper exit strategy for selling your existing properties. If you buy a property for a certain price, then you want to sell that property at an even higher price in order to make the profits that you are looking for. In order to make the most for your property, it is imperative that you as the owner try to sell your property at the top of the market cycle, or in the so called “boom phase”. In this phase of the cycle, you have the opportunity to bid up the price of your property due to short supply. This cycle is relatively short and only tends to last between six and 12 months, which leaves many unprepared investors with a missed opportunity. If foreclosures start hitting the market you maybe a little late to the punch!

Investing for an entire market cycle, about five to ten years, and can give you a clear picture of this cycle from boom to bust! Without market experience you should consult with someone who understands the real estate market cycles and knows the proper warning signs to keep your money safe. It is important to get a long-term view in order to be most advantageous at exploiting every possible marketing opportunity. It is important to remember that while there are great times to buy and sell a property in a market cycle. A savvy investor can make money in any phase of the cycle by simply becoming familiar with each phase and identifying the characteristics. Such as knowing and researching the best strategies for each phase, and by having the ability to recognize when the next phase is about to begin.

For example, during a contraction (the process becoming smaller) a smart investor who knows the market cycle may only look to buy properties that are largely discounted, ensuring a large cash flow. During a recession, it is important to remember to buy properties that are below market value. A smart investor will know that buying a property at this point in the cycle should only occur if you are planning on holding that property for a long period of time. As the market begins to recover, it is vital to invest your money into properties that have taken the largest fall in price, as it is these properties that will gain their value back at the fastest pace. As the market begins to expand, it is important to recognize that you may not be getting deals below the market value. You want to put your money into areas that are in high demand, ensuring that you will get good cash flow.

These are just a few things a savvy investor can do in any area of the market cycle. Doing your own research and becoming familiar with what takes place can ensure your success at becoming profitable in real estate. Knowledge equals dollar signs in the area of real estate, so staying a step ahead can keep you ready for anything that may come your way!

If you ever have any questions or need to talk to a real estate professional please contact us we'd be happy to assist in anyway we can!


Article content: creativesuccessalliance.com
Narrative by: Justin Torres
Edited by: Seth Worthey