Homeowners insurance is required by the lender when you are buying a home. If you are paying cash, it's still advisable to protect you investment with insurance. There are things you should know about the policy you acquire.
1. Ask about the exclusions. Most insurance policies don't cover flood or earthquake damage and require additional coverage. Check with your insurance agent so you will be understand the policy and be prepared.
2. Understand the dollar limitations. You may be covered for a risk but different aspects of the policy may have dollar amount limitations of coverage. Be sure you understand if and what they are.
3. Make sure your replacement costs are sufficient. When you purchase a home the policy is usually written for replacement based on the purchase amount. Especially in this market of foreclosures and short-sales, make sure the amount of coverage is sufficient to replace/rebuild in the event of destruction.
4. Find out about the actual cash value. Your replacement costs less depreciation is the actual cash value that you will receive less the deductible.
5. Be aware of the liability limits. Usually your homeowner's policy will cover the liability of injury of others on your property but they do have limitations so make sure it's sufficient to cover your assets.
And, I want to be your REALTOR®! If there is any information you
would like regarding relocating to the Austin area, let me know. You can
contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment
on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Sunday, November 30, 2008
Sellers Must Help Get Their Home Sold
Please listen to your REALTORS advice on repairs and staging your home. A home that is clean, repaired, clutter-free and well arranged sells much faster than one that is not. There are many cost free or inexpensive things you can do to make your home more appealing if you don't have the budget for needed repairs.
And provide your REALTOR with the documentation they request such as the disclosure, a survey, perhaps builder plans or utility charges. These are things that enhance the value and/or provide needed information for the buyer to make a decision to make an offer.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Monday, November 24, 2008
My blog personality
Thomas Scott wrote a blog
The Duty Fulfillers are happy to be let alone and to be able to work in their own pace. They know what they have to do and how to do it.
Sounds about right. I even did it twice to make sure it would come up the same both times.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
what Does Your Blog Say About Your Personality?
about typealyzer where your blogs can be analyzed and your personality type defined so I checked and this is what it said about me -ISTJ - The Duty Fulfillers
The responsible and hardworking type. They are especially attuned to the details of life and are careful about getting the facts right. Conservative by nature they are often reluctant to take any risks whatsoever.The Duty Fulfillers are happy to be let alone and to be able to work in their own pace. They know what they have to do and how to do it.
Sounds about right. I even did it twice to make sure it would come up the same both times.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
What's for Dinner? Happy Thanksgiving
We are going to my sisters house in Buda for Thanksgiving. Finally we have started trading Thanksgiving dinner duties so that I don't have to cook every time. However, I'm still responsible for the dressing, pumpkin pie and a vegetable.
My favorite part of the dinner is the dressing which my husband and I make together because it requires a lot of gathering and slicing. We've added so many ingredients over the years that we think it's really special. We start with a cornbread which I make and mix in onions, garlic, celery, red bell peppers, mushrooms, sausage and touch of jalapenos for a hint of spicy. But it doesn't stop there because my husband has an herb garden so we also add fresh oregano, parsley, rosemary and thyme some olive oil and chicken broth. Yum, yum.
My sister has her own tradition and that is black olives. Yes, there must be black olives as a condiment for my sister to consider it Thanksgiving.
It seems most of us like that traditional meal but some families have thier own traditions that are different than others. What's yours?
Happy Thanksgiving to you all.
Friday, November 21, 2008
The Pros and Cons of Purchasing a Condo
Condominiums can provide a low maintenance lifestyle and there are pros and cons to any property purchase decision. Below are some things to consider.
CONS:
Reserve funds and association fees - There are usually homeowners association fees associated with a condo that must be considered when a budget for the monthly mortgage payment is determined. The condo association takes responsibility for maintenance of the common grounds, area amenities and exterior maintenance like roofs, exterior doors and siding. Some times a special assessment must be levied because of an unexpected expense that the available funds wouldn't cover.
Condo rules - When you purchase a condo you are purchasing a share in a corporation providing you with a vote but you must comply with the condo rules. Be sure you understand the covenants, restrictions and bylaws. They will restrict your neighbors from participating in behavior you find unacceptable but those same rules will apply to you as well.
Resale - In a condo community, your resale value is more closely tied to that of the neighborhood. The number of investment properties, the condition of the grounds and the reserve of funds available in the association coffers can effect your ability to sell your condo. You don't have complete control over the situation so time and value can be effected.
Neighbors - You are in close proximity to your neighbors so your lifestyle will have a stronger effect on them and theirs on you.
PROS:
Amenities - Many condos have amenities like a pool or fitness center. It eliminates the need for outside memberships and provides a convenience of ease.
Maintenance - Most condos cover maintenance in common areas like the grounds, pool and usually the exterior maintenance of the unit like roofs, siding, doors, etc. These are items that make living in a condo more care-free.
Condo rules - These regulations help to keep the area more agreeable to everyone. Remember, you are entitled to a vote so you may want to attend the association meetings.
Neighbors - The proximity provides an opportunity to get to know your neighbors, develop friendships and provide the security that neighbors provide.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
CONS:
Reserve funds and association fees - There are usually homeowners association fees associated with a condo that must be considered when a budget for the monthly mortgage payment is determined. The condo association takes responsibility for maintenance of the common grounds, area amenities and exterior maintenance like roofs, exterior doors and siding. Some times a special assessment must be levied because of an unexpected expense that the available funds wouldn't cover.
Condo rules - When you purchase a condo you are purchasing a share in a corporation providing you with a vote but you must comply with the condo rules. Be sure you understand the covenants, restrictions and bylaws. They will restrict your neighbors from participating in behavior you find unacceptable but those same rules will apply to you as well.
Resale - In a condo community, your resale value is more closely tied to that of the neighborhood. The number of investment properties, the condition of the grounds and the reserve of funds available in the association coffers can effect your ability to sell your condo. You don't have complete control over the situation so time and value can be effected.
Neighbors - You are in close proximity to your neighbors so your lifestyle will have a stronger effect on them and theirs on you.
PROS:
Amenities - Many condos have amenities like a pool or fitness center. It eliminates the need for outside memberships and provides a convenience of ease.
Maintenance - Most condos cover maintenance in common areas like the grounds, pool and usually the exterior maintenance of the unit like roofs, siding, doors, etc. These are items that make living in a condo more care-free.
Condo rules - These regulations help to keep the area more agreeable to everyone. Remember, you are entitled to a vote so you may want to attend the association meetings.
Neighbors - The proximity provides an opportunity to get to know your neighbors, develop friendships and provide the security that neighbors provide.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Wednesday, November 19, 2008
Being Appreciated and Appreciating in Return
Often we encounter those who don't recognize the value a professional REALTOR brings like the for-sale-by-owner I dropped in on yesterday. But, I have a buyer client who appreciates my value so much that she checks with me about all decisions and where some new home buyers don't even let me know when there is a final walk-thru of the property, this client wants to make sure I can be there.
Through my professional abilities and experience I was able to negotiate a favorable price for the house, support the buyer in upgrade and design decisions, explain the credits and debits and find and have corrected an error on the part of the builder, provide vendor information and connect the buyer with others in her community.
It's great to be appreciated and that's what will bring referrals.
I appreciate my client too. Tomorrow I'm taking her to lunch.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Through my professional abilities and experience I was able to negotiate a favorable price for the house, support the buyer in upgrade and design decisions, explain the credits and debits and find and have corrected an error on the part of the builder, provide vendor information and connect the buyer with others in her community.
It's great to be appreciated and that's what will bring referrals.
I appreciate my client too. Tomorrow I'm taking her to lunch.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Monday, November 17, 2008
REALTORS Make a Difference - Survey Shows
According to a new survey by Consumer Reports, most buyers and sellers were satisfied with the service they received from a real estate agent.
71% of sellers say they were very or completely satisfied with their real estate agent.
86% of home sellers who had their homes listed with an agent did sell their homes.
90% of listed homes that sold, the days on market were 6 months or less.
66% of buyer's had a real estate agent and on average paid less than asking price.I'm an agent that would like to make a positive difference for you. If you are planning to buy or sell a home in the greater Austin area, please call me at 512.589.7988.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
71% of sellers say they were very or completely satisfied with their real estate agent.
86% of home sellers who had their homes listed with an agent did sell their homes.
90% of listed homes that sold, the days on market were 6 months or less.
66% of buyer's had a real estate agent and on average paid less than asking price.I'm an agent that would like to make a positive difference for you. If you are planning to buy or sell a home in the greater Austin area, please call me at 512.589.7988.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Thursday, November 6, 2008
Homebuyers Myths
This is a list intended to set first-time homebuyers straight about myths circulating about the real estate industry.
Myth 1. All real estate agents are the same. Of course not. Some agents have more experience than others and some are Accredited Buyer's Representatives who have demonstrated a special interest in helping buyer's through increased buyer education and experience to achieve this designation.
Myth 2. The agent on the for sale sign can help. The agent on the for sale sign is representing the seller. Not you. The seller pays a buyer's agents commission so take advantage of the opportunity to have representation.
Myth 3. I can find properties for sale on my own. The internet has made it possible for the consumer to search for properties but the consumer information on public search sites is not as complete or up to date as what is available to a Realtor.
Myth 4. If I keep looking, I'll find the perfect house. There is no perfect home. The best way to proceed is to prioritize a list of things you want and pick the house that most closely matches your list.
Myth 5. I can work with more than one agent to find a home. All agents have access to the same information. If you work with more than one agent you will become frustrated by duplicated information. Get a commitment from an agent with whom you have confidence to represent you.
Myth 6. to buy a house you simply agree on a price and sign some papers. It actually involves a number of processes and negotiations on everything from price to when you get the key. A professional can guide you through the process and negotiate on your behalf for the best results.
Myth 7. Foreclosures are a good deal. Don't even get me started. Briefly, foreclosures are priced at market value less the cost of needed repairs. So in the end, you'll pay about the same to purchase and repair as you would a move- in condition home.
Myth 8. Getting a mortgage should be easy. Lenders need particular information so they can be assured of a buyer's credit worthiness before they will lend the money.
Myth 9. All mortgages are the same. There are many different kinds of loan programs and a mortgage broker should be able to assist the buyer in choosing the one that best suits their needs.
Myth 10. A house must pass an inspection or the seller must repair all that is wrong. There is no pass or fail with a home inspection. The inspector will provide a report of what is not working in the house or in need of repair and the buyer may negotiate with the seller as to which repairs the seller will make.
Hopefully this information will get you started out right as you become a first-time homebuyer.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Myth 1. All real estate agents are the same. Of course not. Some agents have more experience than others and some are Accredited Buyer's Representatives who have demonstrated a special interest in helping buyer's through increased buyer education and experience to achieve this designation.
Myth 2. The agent on the for sale sign can help. The agent on the for sale sign is representing the seller. Not you. The seller pays a buyer's agents commission so take advantage of the opportunity to have representation.
Myth 3. I can find properties for sale on my own. The internet has made it possible for the consumer to search for properties but the consumer information on public search sites is not as complete or up to date as what is available to a Realtor.
Myth 4. If I keep looking, I'll find the perfect house. There is no perfect home. The best way to proceed is to prioritize a list of things you want and pick the house that most closely matches your list.
Myth 5. I can work with more than one agent to find a home. All agents have access to the same information. If you work with more than one agent you will become frustrated by duplicated information. Get a commitment from an agent with whom you have confidence to represent you.
Myth 6. to buy a house you simply agree on a price and sign some papers. It actually involves a number of processes and negotiations on everything from price to when you get the key. A professional can guide you through the process and negotiate on your behalf for the best results.
Myth 7. Foreclosures are a good deal. Don't even get me started. Briefly, foreclosures are priced at market value less the cost of needed repairs. So in the end, you'll pay about the same to purchase and repair as you would a move- in condition home.
Myth 8. Getting a mortgage should be easy. Lenders need particular information so they can be assured of a buyer's credit worthiness before they will lend the money.
Myth 9. All mortgages are the same. There are many different kinds of loan programs and a mortgage broker should be able to assist the buyer in choosing the one that best suits their needs.
Myth 10. A house must pass an inspection or the seller must repair all that is wrong. There is no pass or fail with a home inspection. The inspector will provide a report of what is not working in the house or in need of repair and the buyer may negotiate with the seller as to which repairs the seller will make.
Hopefully this information will get you started out right as you become a first-time homebuyer.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
House Hunting Tips
1. Get pre-approved through a lender. This will enable you to search for a home and neighborhood within your financial means. You don't need to commit to a lender at this point but it's helpful to know what you can afford, what your out-of-pocket expenses will be and what kind of monthly payment you may expect.
2. Make some decisions before you start. Determine what features you want in a home, ie 1 or 2 story, master up or down, number of bedrooms, square footage. Drive neighborhoods to figure out which ones you like and don't like.
3. Consider your home ownership timeline. If you are expecting your life situation to change in 2-5 years or if you are expecting to settle in for 10-20 your need may be different so take that into account when making a decision about what's right for you.
4. Be realistic. There’s no such thing as a perfect home. Make a list of your priorities and look for a home that comes closest to matching the list.
4. Consult with a limited number of people. When you announce you are going to buy a home, everyone you know will offer advice and much of it will conflict so limit your consultations to a few that are in a position to provide worthwhile advice.
7. Get a home inspection. Have a professional inspect your home and ask the seller to provide you with a one year home warranty.
8. Hire a REALTOR®. A REALTOR® will be a great asset. She can advise you on processes, prices, negotiate on your behalf, guide you through the processes and represent you throughout the purchase process. Look for an Accredited Buyer's Representative. The buyer's agents commission is paid through the seller.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Use a Realtor When Purchasing New Construction
Why would you need a REALTOR?
Oh, let me count the ways.
First of all, it's important to remember that the friendly salesman in the model home represents the builder not YOU.
Then, perhaps you think that the builder will give you a better deal if they don't have to pay the REALTORs commission but did it ever occur to you that an experienced REALTOR may be able to get you a better deal with the builder than you could get on your own without your agent.
And most important is having someone available who can separate the inaccuracies, misunderstandings and incorrect information.
Here are some examples:
• When the salesperson adds up the figures incorrectly and asks for more in a deposit than you should pay.
• When the salesperson neglects to tell you significant information about their neighborhood.
• When the salesperson tells you false or misleading information. Not intentionally of course.
This morning, a salesperson told my buyer's that their neighborhood was protected against homeowners leasing their homes, short sales and and foreclosures. What! Perhaps the salesperson didn't understand about what had been explained to him. It's not uncommon in our area for the builder to have restrictions against the builder selling to investors but it's unlikely in an average neighborhood to have an HOA prevent someone from leasing their home after occupying as an owner and you can't prevent a homeowner from selling their home in a short-sale or to an investor who will lease or being foreclosed on by the bank.
You may have known these simple truths but having a professional, someone who buys and sells property day in and day out backing you up is a worthwhile investment.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Oh, let me count the ways.
First of all, it's important to remember that the friendly salesman in the model home represents the builder not YOU.
Then, perhaps you think that the builder will give you a better deal if they don't have to pay the REALTORs commission but did it ever occur to you that an experienced REALTOR may be able to get you a better deal with the builder than you could get on your own without your agent.
And most important is having someone available who can separate the inaccuracies, misunderstandings and incorrect information.
Here are some examples:
• When the salesperson adds up the figures incorrectly and asks for more in a deposit than you should pay.
• When the salesperson neglects to tell you significant information about their neighborhood.
• When the salesperson tells you false or misleading information. Not intentionally of course.
This morning, a salesperson told my buyer's that their neighborhood was protected against homeowners leasing their homes, short sales and and foreclosures. What! Perhaps the salesperson didn't understand about what had been explained to him. It's not uncommon in our area for the builder to have restrictions against the builder selling to investors but it's unlikely in an average neighborhood to have an HOA prevent someone from leasing their home after occupying as an owner and you can't prevent a homeowner from selling their home in a short-sale or to an investor who will lease or being foreclosed on by the bank.
You may have known these simple truths but having a professional, someone who buys and sells property day in and day out backing you up is a worthwhile investment.
And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.
Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
Like us on facebook!
Subscribe to:
Posts (Atom)