Purpose of a Buyers Agent

What specifically does an agent for the buyer actually do to earn their share of commission?  Obviously, a buyer agent supports the buyer (you) and represents your interests; they maintain confidences, and provide loyalty and care. How hard could that be?  Is this really more meaningful than making arrangements to open a door of a vacant home?  The answer is Yes!!!

Understanding your true needs:  First, any good buyer agent will need to find out exactly what you want, not just at a high level, such as your need for a 3 bedroom/2 bath condo for $500K.  But a buyer agent will want to know, when you close your eyes and picture yourself in your new home, what is the vision in your head? 

  • Do you want a sunny spot for a garden? 
  • Do you want a back yard, and should it be fenced?
  • Do you need space for visiting in-laws, and do you want that space right near your room, or far away in the basement?
  • Are you a chef who requires a world-class kitchen or would a small efficiency kitchen work fine? 
  • Are you in a rush to purchase because you want to be in your home before the kids start school in September, or are you willing to take your time to find the “perfect” house?
  • How much are you pre-qualified for?  If you’re not pre-qualified, do you have an expert that can help, or do you need one? 
  • Regardless of your pre-qualification status, how much are you really comfortable spending, since that may be a different amount.  
  • Do you want a fireplace?  A pool? 
  • Do you have a limit to what you wish to pay in taxes, utilities, and other charges? 

The list goes on.  It’s our job to figure out exactly what would make you happy.

Finding and viewing potential matches:  Sure, you could do a realtor.com, trulia.com or zillow.com lookup by yourself.  But agents have access to a lot of information such as history of the home – has it been for sale before?  Has the price recently been reduced or increased?  What are the actual taxes?  Are there any developments or building issues going on in the location you wish to move to?  We’ll work to select only those properties that are worth your time to view, and then we’ll call and schedule and cancel and reschedule the appointments as necessary.  We’ll also preview the properties ourselves to make sure they’re going to meet your needs.  And then of course we’ll take you to see them.  We’ll explain the particular benefits, and the potential downfalls for each home.  We’ll listen to your likes and dislikes so we can better target future showings.  And then we’ll repeat the process as often as possible until we find the right home for you.

Validating the information:  If you’re looking at a co-op or condo, we’ll verify the fees with the management company.  What is the fee for maintenance?  Does that include taxes?  What % of that fee is tax deductible?  Is there a parking fee?  Are there assessments?  If yes, when do they start and end, and how much are they?  When was the last one?   If you’re looking at a single family home, we’ll validate all information.  What are the town/state and village taxes?   We’ll verify the square feet with the town records.  Any data points that we have will be validated and clarified if necessary.

Putting in an offer:   We’ll make sure you have all the data you need to come up with a great offering price.  We’ll gather comparables so you’ll know what similar homes recently sold for.  We’ll fill out the necessary paperwork, contact the seller’s agent to make sure there haven’t been any last minute changes, and we’ll submit the offer.  And then we’ll negotiate on your behalf.  We’ll let you know what contigencies you should consider, and will ensure your offer includes them.

Completing the purchasing process:  Once we have an accepted offer, we’ll do all the work required to make the rest of your buying process simple.  If you don’t have your own, we’ll provide you with names of expert real estate lawyers, home inspectors, mortgage brokers, and anyone else you need to finalize your transaction.   We’ll obtain all documentation from the management company if you’re buying a co-op, and we’ll walk you through all the documentation requirements.  We’ll ensure appraisers have access to the home, we’ll do whatever we can to ensure contracts are completed expeditiously and we’ll hold your hand until you’re at the closing table and have signed your documents.

In a nutshell, buying a home can be incredibly complicated.  The buyer’s agent job is to make a potentially very difficult process extremely simple and to make sure your dream home doesn’t escape from your grasp. 

I have been helping home buyers for over a decade and look forward to the opportunity to help YOU when it’s your time to purchase a home!

FREE Boise Home Search/Area Wide Home Search

FREE Boise Home Search/Area Wide Home Search

Trust Realty contains a FREE Boise home (and Greater Boise-Nampa Metro Area) search engine which is directly linked to the area Multiple Listing Service.   Property information is updated immediately and has no “lag time” much like the larger search sites (Trulia.com, Realtor.com, Zillow.com, etc).  In a nut shell, you are able to view real time data for Boise homes for sale (and Greater Boise-Nampa Metro Area) in the same manner as I, a licenses Broker in the State of Idaho.  www.TrustIdaho.com contains a user friendly mapping feature which streamlines your search and you can also create a profile which will automatically notify you when Boise homes for sale matching your search criteria come onto the market.

The search engine contained at https://trustidaho.com is an excellent tool for those activity looking for a home (or just browsing) since you are notified of homes that have come onto the market prior to the information populating to alternate websites.  Even though this is a “down” market, homes that are priced well still obtain offers within 24 hours.  The early bird gets the worm!   

This is a free, no obligation service.  Browse as you please by clicking the following Boise home search link:  Boise Homes for sale/Greater Boise-Nampa Homes for sale

*   Quality of life, upstanding people, opportunity for instant equity, low interest rates and historically low prices make it an opportune time to purchase a home.  As a buyer in the State of Idaho, you use my services at no charge.  The seller of the home that is purchased compensates Trust Realty and myself for bringing you to them and most importantly, representing your interests!  I specialize in new home ownership, relocation, investment and new construction and will provide you the negotiation skills and experience gained from over a decade in the real estate market.

Check out the boise home search today!

BOISE HOMES—HAS THE MARKET STABALIZED?

BOISE HOMES—HAS THE MARKET STABALIZED?         

Boise home pricing has stabilized (in my opinion and others).  Granted, we could see a spurt of depreciation if inventory were to increase substantially. However, inventory levels within the Greater Boise-Nampa Real Estate Market have subsided drastically within the past 6 months.  If this trend continues then Boise home pricing will continue to stay stable and appreciation should begin.

Typically, any type of trend in home pricing is found at the employment epicenter of our Valley–Boise.  Statistics show that there has been some appreciation (although minimal) within certain pockets of SE Boise and North Boise.  This is a very good sign and I hope that the trend spreads throughout the remainder of the Treasure Valley that include Meridian homes, Kuna homes, Eagle homes, and Nampa homes.

A strong case for market stabilization can be found by viewing market statistics from the 1980’s.  You see, the real estate market during the mid 1980’s was similar (not exact since typical interest rates during this time were at 15%–much different then the 4.5% mortgage rates at this time).  At the “bottom” of the market during the 80′s, a potential purchaser could purchase a home for less then what it costs to rent a home.  When this happened, home pricing began its upward climb.  One can assume that this trend will surface for Boise homes, as well. 

At this time, one can purchase a Boise home for sale for less then it costs to rent.  I, along with most real estate experts predict that we are at the bottom of the market due to this fact.

It’s time to take advantage of the historically low Boise home prices and interest rates before this opportunity passes.  Please call or email me to discuss your options!

When Can I Purchase A Home After Short Sale Or Foreclosure?

The waiting periods in order to qualify for a home loan after a foreclosure, deed-in-lieu, short sale and bankruptcy varies both by the government agency purchasing or insuring the loan as well as the dollar amount of the loan.

Conventional Conforming (FNMA/FHLMC)

1) Foreclosure is 7 years

2) Deed-in-Lieu is 4 years < 80% LTV and 5 years > 80% LTV for primary residences. 7 years for second homes and investment properties regardless of LTV.

3) Short Sales is 2 years < 80% LTV and 5 years > 80% LTV and 7 years > 90% LTV

4) Bankruptcy is 4 years

Conventional Non-Conforming (JUMBO)

1) Foreclosure is 7 years

2) Deed-in-Lieu is 7 years

3) Short Sale is 7 years

4) Bankruptcy is 7 years

Federal Housing Administration (FHA)

1) Foreclosure is 3 years

2) Deed-in Lieu is 3 years

3) Short Sale is 3 years

4) Bankruptcy is 2 years

Veterans Administration (VA)

1) Foreclosure is 2 years

2) Deed-in Lieu is 2 years

3) Short Sale is 2 years

4) Bankruptcy is 2 years

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When Can I Buy Another Home After a Short Sale Or Foreclosure?

The waiting periods in order to qualify for a home loan after a foreclosure, deed-in-lieu, short sale and bankruptcy varies both by the government agency purchasing or insuring the loan as well as the dollar amount of the loan.

Federal Housing Administration (FHA)

1) Foreclosure is 3 years

2) Deed-in Lieu is 3 years

3) Short Sale is 3 years

4) Bankruptcy is 2 years

Veterans Administration (VA)

1) Foreclosure is 2 years

2) Deed-in Lieu is 2 years

3) Short Sale is 2 years

4) Bankruptcy is 2 years

Conventional Conforming (FNMA/FHLMC)

1) Foreclosure is 7 years

2) Deed-in-Lieu is 4 years < 80% LTV and 5 years > 80% LTV for primary residences. 7 years for second homes and investment properties regardless of LTV.

3) Short Sales is 2 years < 80% LTV and 5 years > 80% LTV and 7 years > 90% LTV

4) Bankruptcy is 4 years

Conventional Non-Conforming (JUMBO)

1) Foreclosure is 7 years

2) Deed-in-Lieu is 7 years

3) Short Sale is 7 years

4) Bankruptcy is 7 years

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