Trust Your Agent to Negotiate a Win-Win Deal

You’re about to make one of the most important purchases of your life – a home for you and your family. But here you are, handing over those all-important home purchase negotiations to your real estate agent..

Relax. Your negotiations are in good hands. win-win

Strong negotiating skills are among the many reasons you use an agent. He or she has been specially trained in negotiations and has many years of experience putting this training into practice.

Here are some of the reasons you should trust your agent to bargain on your behalf:

  • While your agent wants to make the best deal possible for you, he or she knows that, by definition, negotiating requires some compromise to make it work. (For example: “Give on the price, we’ll loosen our demands for a 30-day close.”) Both parties should emerge from negotiations feeling they’ve gotten a good deal – a win-win.
  • The adage that everything is negotiable in real estate isn’t necessarily true. You don’t want to go for everything, because you may end up with nothing. Your agent will decide what mountains to die on according to your priorities. And let’s face it – that refrigerator you want but the seller won’t surrender, probably doesn’t qualify as that mountain.
  • Your agent has the experience to correctly size up the seller, which can give you a major advantage during negotiations. Is the seller motivated and prepared to give concessions, or are there other offers waiting in the wings?
  • Most important, your agent negotiates based on facts, not emotion. He or she can table a home inspector’s report proving that repairs are needed without recriminations and present stats to support your offer without arguing over value.

So you can relax; your agent’s negotiating skills will get you that deal. And chances are it will be a win-win.

Call Dennis today at 513-207-2899.

Dennis Egan, bringing knowledge & expertise to your home buying experience since 1983.


5 Reasons You Should Buy a Home NOW!

home-in-your-handsBuy Now in Greater Cincinnati

5 Reasons You Should Buy a Home NOW!
The rationale stated in this national blog posting from KCM (Keeping Current Matters) applies to our Greater Cincinnati area as well… see below.  If you’ve been waiting for the best time to move ahead, this might well be the time.  Contacting me, Dennis Egan, your friendly Comey & Shepherd agent is the appropriate step forward.

Many potential buyers are waiting until they can be 100% sure the real estate market has fully recovered before making the move to purchase a home. Here are five reasons why waiting might not make sense any longer:

1.) Prices Are on the Rise

The latest Case Shiller Home Price Index revealed that home prices have appreciated 5.5% over the last year. This is occurring across the nation as increases were reported in 19 of 20 metros. The Home Price Expectation Survey, which polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts, calls for continued appreciation over the next five years.

2.) Mortgage Interest Rates Are Expected to Increase

The Mortgage Bankers Association has predicted that, after reaching record lows in 2012, mortgage rates will creep up slowly in 2013 to 4.4%. Rates have already increased by 2/10 of a point (3.32 to 3.53) in the last two months.

3.) Rents Are Continuing to Skyrocket

Recently, Zillow reported that rents in the U.S. increased by 4.2% over the last year. Increases were 5% or more in many major metropolitan areas including Chicago, Boston, San Francisco, Detroit, Baltimore, Denver, San Jose and Charlotte.

4.) New Mortgage Regulations Will Be Announced Later This Year

Six regulators, including the Department of Housing and Urban Development, the Office of the Comptroller of the Currency and the Securities and Exchange Commission, are currently drafting the new Qualified Residential Mortgage (QRM) rule. They will decide on two major requirements for buyers looking to qualify for a mortgage: minimum down payment and minimum FICO score. Many experts believe the new rules will be more stringent than current requirements.

5.) Timelines Will Be Shorter

The dramatic increase in transactions caused many challenges to the process of buying or selling a home in 2012. We waited for inspections, dealt with last minute appraisals and prayed that the bank didn’t ask for just one more piece of paper before issuing a commitment on the mortgage. There are fewer transactions this time of year. That means that timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.

These are five good reasons why you should consider buying a home today instead of waiting.

Courtesy: The Comey & Shepherd Blog February 4, 2013

Call Dennis today at: 513-207-2899

Dennis Egan, bringing knowledge & expertise to your home buying experience since 1983.


Help Through The Home Buying Maze

mazeWorking with a professional real estate agent will help you through the exciting maze of home buying. However, before you begin, consider the following:

Why?

  1. What is your motivation for buying a home? New job, Closer to Work/Family, Schools, Downsizing, Retirement
  2. Location Important? Neighborhood, Rural, Urban, Suburban
  3. Local Amenities? Schools, Parks, Shopping, Restaurants
  4. Type of dwelling? Single Family, Townhouse, Loft, Condo

When?

  1. What is your time frame?
  2. Do you need to sell your home before you buy another?
  3. Are you in a time constraint? Kids to be in school, Baby born, Getting married ?

How Much?

  1. How much do you want your monthly payment to be?
  2. Figure out how much you can afford.
  3. Calculate your monthly income and debt. $ ________ – $ ________ = $ _______
  4. Check your credit report and FICO score. FICO score: __________
  5. How much do you have for a down payment?

How to Finance?

  1. Type of Mortgage Conventional, Fixed, Government, Adjustable, Jumbo, Other
  2. Shop
  3. for the Best Interest Rates and Programs Interest Rate : _____% Terms: ______ Years
  4. Speak to at least 5 lenders and mortgage brokers
  5. Get a Pre-Approved Mortgage!

What & Where?

  1. What style of home do you prefer? Traditional, Contemporary, Two Story, Ranch, Historical, Loft
  2. What specific features do you want in your home?
    Size ______________ Sq. Ft
    Bedrooms _________
    Bathrooms _________
  3. Price Range ______________ to _____________
  4. In which area of Cincinnati do you prefer to live? East, West, North, Central, Northern Kentucky

Call Dennis today at: 513-207-2899

Dennis Egan, bringing knowledge & expertise to your home buying experience since 1983.


Take the Guesswork Out of Finding A Realtor

question-markPurchasing a home is one of the largest purchases most people make in a lifetime.   Selecting the right real estate agent to help you buy or sell your home is essential to a smooth transaction. For the best possible experience, you should consider a professional’s background, personality and responsiveness. Take time to find an expert. Look for experience and good chemistry.

Qualities to look for in a Realtor:

  1. Someone you can trust to have your best interest at heart.
  2. Someone who really listens to what you want and need in a home purchase.
  3. Someone who knows the ins and outs of the home buying process. Rely on an expert!
  4. Someone who knows the communities you are considering. Speaking “Cincinnati” is a plus!
  5. Someone who can give you access to all the information you need to help you feel comfortable in your decision. Experience matters!

Get referrals.

A realtor’s business is built upon referrals.  Check out his or her references and testimonials.

Interview at least three agents.

Feel free to “shop” until you find the perfect person for the job!

Questions to ask when interviewing a prospective Realtor:

  1. Ask the real estate agent how he or she would establish a listing price, if selling your home. Request a Comparative Market Analysis, also called a CMA, which shows the market value of similar homes in the area that are for sale or have recently sold.
  2. Ask the agent how he or she would market your property. Understand that some agents may prefer to first tour your home and then put together a customized marketing plan to present at a later meeting. But if he or she can’t suggest a strategy when asked, you might consider interviewing other candidates.
  3. Ask the agent how often you should expect to hear from him or her. Know how and when you will communicate to avoid unrealistic expectations.
  4. Ask how long the agent has been licensed and how many buyers and sellers he or she has helped.
  5. Ask about designations. Interest in continuing education is a strong indicator of motivation and professionalism.
  6. Pay attention to the agent’s listening skills. Does he or she cut you off before you’ve finished a sentence? There’s nothing worse than looking at houses you have no interest in because the real estate agent has not listened carefully to your needs, or having your home on the market too long because it’s priced incorrectly and the wrong buyers are being targeted.
  7. Ask the agent what is his or her fee structure. Does he or she require a percentage of the sales price or work for a flat fee? Will the agent be paid another way?

Take the guesswork out of finding a Realtor.

Call Dennis Egan today at 513-207-2899.

Dennis Egan, bringing knowledge & expertise to your home buying experience since 1983.


Guide to Selecting a Realtor

Purchasing a home is one of the largest purchases most people make in a lifetime.   Selecting the right real estate agent to help you buy or sell your home is essential to a smooth transaction. For the best possible experience, you should consider a professional’s background, personality and responsiveness. Take time to find an expert. Look for experience and good chemistry. Read more…


Before You Begin: Home Buying Considerations

Working with a professional real estate agent will help you through the exciting maze of home buying. However, before you begin, consider the following: Read more…


Things to Consider When Buying a House

Are You Ready?

Planning is the Key. You are thinking of moving, why? Is it that you need a bigger home or are downsizing, a job transfer, the Dream House? Be sure you know your motivation.  Then, can you move? Are you tied into a lease, or do you have a home to sell? What is your timeframe? Do you want to be moved before the kids start back to school, or do you have to be in a new area because of a job? How am I going to pay for this new home, finance, cash, combination of both? These are all things to think about before you seriously jump in there and start looking at homes. Read more…


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