How To Find A Real Estate Agent

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Better Judgements eZine
Terria Judge, Realtor
CRS, ABR, GRI, Broker Associate

Better Judgements is a newsletter on home matters, from
Terria Judge, your Garden City, KS real estate agent!

Contact Terria Judge at 620-271-2129!

Terria Judge
Coldwell Banker, The Real Estate Shoppe, Inc.
John P. Judge, Broker
1135 College Dr. Suite E
Garden City, KS 67846

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In this Issue
=============

1. Article: How To Find A Real Estate Agent
2. Open House Listings at TerriaJudge.com
3. Featured & New Listings
4. Article: Tips For Beginning Real Estate Investors: Fixing And
Flipping Houses
5. Article: Home Buyer Beware - Know The Signs Of Real
Estate Market Trouble

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How To Find A Real Estate Agent
By Alex Fir

You may be of the opinion that you don't need a real estate
agent and that using one will add to the cost of buying your
new home.

The fact is that a real estate agent's fees are typically paid
by the seller of the home. So, as a buyer, you can get the
services of a professional real estate agent without having to
directly pay for it. Please confirm this in any paperwork or
contracts that a real estate agent may provide because policies
vary greatly by state and company. Be sure to ask about fees
when you interview agents.

Most real estate agents may work with buyers and sellers but
often they specialize in working with one or the other. Make
sure the agent that you choose has experience working with
buyers and with no down payment transactions.

Be careful if you are speaking with a real estate agent and
they don't seem to recognize terms like "Down Payment
Assistance Program".

Start making a list of possible real estate agents to interview
with referrals from your lender, friends and family.

A referral from the lender is great because you get the
services from people that have worked together in the past and
are already familiar with each other's systems. This can help
prevent any last minute surprises or obstacles.

Questions to ask while you are interviewing real estate agents:

Please explain your fees.

Are you familiar with any no down payment financing programs?

Have you been involved with no down payment buyers in the past?

Would you mind providing sample contracts so I may review them?

Does it clearly state in the contract who will be paying your
fees?

How long have you been a real estate agent?

Do you mostly work with buyers or sellers?

I'm looking for a home in the areas of ______. How familiar are
you with those areas?

What specific steps would you take to help me find the home I
am looking for?

You should also try to get an idea of these factors while you
are speaking with the agent.

- Does this person have good negotiating skills?

- Do you feel this agent is trying to understand your
situation so that they can properly
represent you to sellers?

- How much knowledge does the agent have about mortgage
markets?

About the Author: Do you need business or finance information?
Visit "Business Finance information", FREE web site for those
who want to learn how to achieve success in business and
finance. http://www.business-finance-site.com

Source: http://www.isnare.com
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Open House Calendar at TerriaJudge.com
====================================
http://terriajudge.com/garden-city-ks-real-estate/index.php?main_page=document_general_info&cPath=7&products_id=8

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FEATURED & NEW LISTINGS
========================
http://terriajudge.com/garden-city-ks-real-estate/index.php?main_page=index&cPath=1&zenid=6029539a605873e737839576cfb53f6d

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Tips For Beginning Real Estate Investors: Fixing And Flipping
Houses
By Jeanette Joy Fisher

Many real estate investors make millions turning ugly houses
into dollhouses. On the other hand, some inexperienced
investors lose money buying houses that just don't turn a
profit. If you want to get started investing in real estate by
fixing and flipping houses, you'll want to know what to type of
property to buy.

Three Tips to Help You Find the Ideal Fixer

1. Learn Your Market

Your first task, exploring your market, helps you know a
bargain house when you see one. Look at houses for sale in your
area. Keep track of sales and how long the houses take to sell.
Ask about the terms of these sales because this helps you
understand how sellers market their property. For instance, if
a seller paid closing costs for the buyer, did the price rise
from the listed price accordingly? Or, did the seller come down
on the price and pay the buyer's costs, too. Examine the sales
that sell quickly. What home features and financing options
prompted the fast sale?

Also, look at model homes. Buyer often chose resale homes
because they can't wait for a new home to be finished. But,
these buyers like the amenities found in newer homes. When you
transform your fixer, you'll know what buyers desire and you'll
make informed makeover choices.

2. Know When "Bad" Can Be Good

When you first start out in your real estate "fixer"
enterprise, you'll want to look for houses needing only
cosmetic work. Look for houses that just need cleaning up,
painting, and new flooring. Don't be afraid of stinky houses
that show horribly; look for fixers with peeling paint, holes
in the wall, stained carpeting, and trash in the yard.
Remember, these houses won't look good to most buyers, but that
other investors see them as gold mines. You need to use your
imagination when viewing theses homes. Try to visualize the
finished product.

3. Know When "Ugly" Means "Pass"

If the house has cat urine staining the carpet, the
sub-flooring or concrete foundation may need replacing. Dog
urine cleans up easier. If the walls have too many cracks and
bumps, you may need to hang new sheet rock or hire a
professional plaster refinisher. Look for signs of plumbing
problems such as water stains under sinks and loose flooring.

When you're new to real estate investing, always remember your
limitations. Use caution when considering houses needing
structural repairs. Some rehabbers replace walls, plumbing,
structural beams, sub-flooring, and electrical systems, but
they acquired those skills after years of experience or pay a
professional.

If you find a house with structural problems, get estimates
from reliable contractors to do the work. Experience teaches
you how to do more over time. Until then, rely on experienced
contractors to do the repairs. Take professional estimates into
account before deciding whether or not to purchase an investment
property.

Why would anyone want to do this?

How much does the average investor make? In Philadelphia, real
estate investors only make offers on houses they expect to make
$30,000 on. In Southern California, many investors make $50,000
to $100,000 on each house.

You can make a fortune fixing and flipping ugly houses. Learn
your market. Know when "ugly" means bad that can be good, and
when stinky means keep looking.

About the Author: For more information about finding,
financing, fixing and flipping houses, visit Jeanette Fisher's
Doghouse to Dollhouse for Dollars. Learn about decorating to
attract buyers. Jeanette teaches Design Psychology college
courses and professional real estate seminars. She is the
author of books about home staging, credit, and real estate.
http://www.doghousetodollhousefordollars.com/

Source: http://www.isnare.com

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Home Buyer Beware - Know The Signs Of Real Estate Market Trouble
By Charles Essmeier

Lots of articles have appeared recently about the booming real
estate market in the United States. Home prices, especially on
the East and West coasts, are not only at record levels, but
are increasing at record rates. In some areas around
Washington, D.C. and San Francisco, home prices have tripled in
the last five years. While many homeowners have been enjoying
huge increases in their equity, realized when they either sell
their home or borrow against it, the market has become
increasingly difficult for those trying to buy homes. It may
get worse, as there are now some strong signs that the market
may be near its peak:

# The prices of homes in many markets are so high that few
buyers can purchase them using traditional mortgages. In
Washington, D.C., for instance, 48% of new mortgages are of the
interest-only variety, where the buyer pays only the interest on
the loan for the first few years. This keeps the payments low
enough that the buyer can qualify for the loan. The problem is
that the buyer is only paying interest and not actually
contributing to the purchase price of the home. The fact that
so many buyers are obtaining interest-only loans suggests that
prices in those markets may be too high to be sustained.

# Many home appraisers have complained that lenders are
constantly pressuring them to "make the numbers" when
appraising homes. Appraisers in some modestly-appreciating
markets, such as Buffalo, NY, say that they are often given a
value when assigned an appraisal, with the unspoken
understanding that their appraisal is expected to come in at or
above that figure. The lending industry is competitive, and
lenders want to issue as many loans as possible. It would
appear that quite a few of them are even willing to lend money
when the home doesn't appraise for the asking price. Appraisers
point out that if they don't provide the "requested" figures,
then the lenders will simply hire other appraisers.

# The foreclosure rate is increasing. The rate increased in
March and April over the same months last year, suggesting that
more buyers may have discovered that they have mortgages on
which they cannot make the payments. The foreclosure rates are
the highest in Florida and Texas, which have foreclosure rates
that are nearly triple the national average. With interest
rates near historic lows, mortgages are more likely to become
even less affordable as interest rates increase.

What this means for prospective buyers is that they must do
even more research before buying a home. Buyers should
genuinely consider whether or not they could actually afford to
make home payments that include a reduction in principal. If a
buyer can't afford a home without taking out an interest-only
loan, the buyer probably can't afford the home. Buyers should
be suspicious of home appraisals and should, if possible, ask
the appraiser if they are being pressured to provide a
predetermined figure. Every buyer wants his or her home to
appraise for at least the amount of the loan. But the current
market is one where buyers are straining to make payments on
prices that are at record levels. The last thing any buyer
wants is to strain to make payments on a mortgage that exceeds
the value of the home. The real estate market is in a
precarious state at the moment, and prospective buyers should
do as much research as possible to make sure that they can both
pay for, and keep, their new home.

About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a Website devoted to debt consolidation information and
http://www.HomeEquityHelp.net, a site devoted to information on
home equity loans.