Contact MargaretArchive for the 'Real Estate' Category
How to Find a Home Online
February 2nd, 2012 Categories: Real Estate, Real Estate Information
Crofton MD Real Estate Q&A
Q. I’d like to begin my home search online, but there are so many real estate websites. Where should I start?
A. You’re right, there are probably thousands of websites offering home listings. The good news is this: the data for most of them is gleaned from the local MLS listing so the information is essentially the same, no matter where you find it. But why not go straight to the source…
MRIS is the regional multiple listing service used by REALTORS in the greater Crofton area and much of the Middle Atlantic Region. Homesdatabase.com is the public version of MRIS, and you can count on it to be up-to-date and consistent with the information available to agents using MRIS.
BUT…
If you click on the agent’s contact information for more information about the property, you will be reaching out to the listing agent WHO REPRESENTS THE SELLER’S BEST INTEREST, not yours.
My suggestion: Look to Homesdatabase.com for up-to-date listing information, but contact YOUR BUYER AGENT for more information. It is your buyer-agent’s job to represent your best interests in your home search and purchase.
Real Estate Company Websites: Long and Foster and most other large real estate firms have their own websites and a home search feature. One special feature you’ll find on Long & Foster’s website is a Foreclosure Search, if that interests you.
Non-traditional real estate websites such as Zillow.com have some of the best mobile apps available, but the listing information is not always up-date.
One feature of Zillow that I do like is real estate agent reviews posted by consumers. Perhaps that’s because my reviews are pretty good, but really… where else are you going to find unedited testimonials directly from other home buyers and sellers? Simply click on the link at the top of the page for “Professionals” and then type in the name of an agent you’re considering. If you don’t have an agent in mind, type in the zipcode where you’re looking and check out the agents who have at least 3 or 4 reviews.
Agent websites are another option you may want to consider for your online home search, such as this one at MargaretWoda.com. If you’re already working with an agent, check their website for a home search; if you’re not working with an agent yet, please feel free to use the home search on my website at your own pace and convenience. There’s no registration required unless you request email updates for new listings. Again, you can count on up-to-date information on most agent websites – and for sure on mine.
While you may find a home online, the Internet cannot represent your best interests in a real estate transaction. That’s your agent’s job. Choosing the right real estate agent has never been more important than it is in today’s market… but that’s a subject for another day.
For answers to your real estate questions, please click on the contact tab at the top of this page and give me a call or send an email.
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Common Sense Home-Selling Secret #1 for your Crofton Home
January 30th, 2012 Categories: Real Estate, Real Estate Information
The Common Sense Home-Selling Secrets I’ve shared with home sellers in the greater Crofton area for more than 30 years are more “common sense” than they are “secret.”
Here’s #1:
my “Common Sense Home-Selling Secrets” and other important information
that will give you a competitive edge when you sell your home.
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Electronic Signatures Gain Popularity
November 18th, 2011 Categories: Real Estate
Real Estate Questions and Answers
Q. I want to sell my Crofton home, but I live in California. Will you mail the paperwork to me?
A. Paperwork that required mailing 10 years ago and scanning/emailing just 2 years ago can now be signed and sent electronically. Let me explain…
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Your autograph is no longer necessary on real estate sales contracts, addenda, and other documents used to buy, sell, and lease real estate. E-signing is the latest item on a long list of technology innovations since I started helping Crofton home buyers and sellers in the 70’s. I love it!
The e-Sign Act (2000) and Uniform Electronic Transactions Act (1999) made electronic signatures binding, but there are still a few hold-outs in the banking world that won’t accept digital signatures. In these situations, many people use electronic signing in their initial negotiations and then follow up with a copy signed the old fashioned way – with pen and paper – after the agreement is complete.
However, FHA is on board (FHA Letter) and so is the National Association of REALTORS (NAR White Paper), as well as many lenders.
Here’s how e-signing works:
1. Your agent goes online to an e-signature company (such as Authentisign or Docusign) to create a new signing. The first step is to name the signing, such as “123 Crofton Parkway - Lease.”
2. Your agent will identify each participant in the new signing by entering their name, email address, role in the transaction, and whether they are a signer, reviewer, or copy recipient.
3. The document (or two or three…) will be uploaded by your agent. It’s done the same way you add an attachment to email.
4. Your agent will then go through the document to identify each place where a signature or initials are needed. It’s a simple “drag and drop” process. If cross-outs or written changes are needed in the document, your agent will do that electronically and create an initial box next to it.
5. After reviewing the document to make sure nothing has been overlooked, your agent will go to the final step – i.e., sending it to you, accompanied by an email message with any comments or instructions.
6. You receive an email containing the document, along with step by step instructions, and submit it for authentication.
7. After your document is authenticated by the e-signature copy, it is forwarded to the next party. Once all parties have signed, the final copy will be sent to anyone identified as a reviewer (such as your agent) and a copy will be delivered to everyone listed in Step 2.
8. Now all parties have an electronic file of the completed document, which you can save as a PDF file and print for a hard copy.
My clients have used electronic signing for leases, listings, contracts, and random follow-up documents such as the home inspection addendum. Obviously it’s ideal for people who are out of the area, but even local clients have loved the convenience.
Don’t be surprised if there’s an electronic signature in your future, especially if you buy or sell a home. This ranks right up there with fax machines, cell phones, online listing data, and electronic lock boxes… just a few of the other technology innovations that have made life easier for consumers and real estate agents alike.
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The very best thing about being in real estate
August 11th, 2011 Categories: Real Estate
Friendship can be addictive.
One of the things I like best about being in real estate is that my clients become friends, my friends become clients, and most of the people in my world are now both clients and friends. Sometimes I have to stop and think back to remember which they were first. Not that it really matters.
All those cynics who attribute greed to people in the real estate industry just don’t know the same people I do. 99% of the real estate agents I know have genuine affection for and dedication to their clients, and those caring relationships are just as important to them as the real estate commissions earned.
I was reminded of this yesterday, at the funeral for one of my former clients who became a good friend – Candace Mays Hewitt, a 41-year old mom who was killed instantly in a terrible accident on the D.C. beltway while she was en route to work last week. There I was, seated among her many friends, including a former client that she referred to me – and I couldn’t help thinking that the real estate commissions earned by helping her and her friend were definitely not the reason I was there. (The cynics probably think I mourned the loss of her future business.)
My mind flashed back to the happier times I’ve enjoyed with this and other clients – the weddings, new babies, new jobs, backyard cookouts, retirement parties, and more.
It is such a privilege when someone invites you into their world to walk side by side with them in pursuit of their real estate goals. It’s an even greater privilege when they want you to stay in their world to share other milestones and their friends with you.
These lifelong friendships really are the very best thing about being in real estate!
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Blaming Home Owners for Today’s Housing Crisis Is Not Fair
June 10th, 2011 Categories: Real Estate
The first thing I read this morning was a real estate blog titled The McMansion Extra Value Package : Is it REALLY the Bank’s Fault You Can’t Afford Your Home Now? (The post has been edited, since I first read it and wrote this, to remove the word “greedy” regarding home buyers.)
I disagree with the premise that home buyers who took advantage of low-down and no-down loans to buy a home in the early 2000’s were greedy, or even over-reaching. There were a lot of responsible people who purchased homes well within their means who have been hurt in today’s real estate market. I don’t believe it’s entirely their own fault if they and others are in a financial crisis now. And I don’t really believe it’s entirely the bank’s fault, either. It’s a symptom of the overall dismal economy, in my humble opinion.
Sure, there were some naysayers predicting a housing collapse, but plenty of experts shunned that idea.
To be fair, I think we have to go back to those so-called “bubble years” and remember what the housing market was 5 or 6 years ago:Home buyers qualified for loan programs that were widely available, most people felt secure in their jobs, and there was no reason to expect anything other than continued growth in property values. Level off, maybe… but, in their experience (and ours), home prices never went down before. We all knew that declining home values might be possible in theory, but it seemed unlikely based on decades of real estate history in this country – certainly in the D.C.-Baltimore-Annapolis triangle, where we live and work.
It’s real easy to sit in an ivory tower now, point fingers and, in hindsight, sweep all those home buyers (and banks) with a broad brush labeled “greedy” – It’s just not fair or accurate.
In my experience as a REALTOR, responsible people used low-down and no-down loans to purchase an average home – a 2 or 3-bedroom townhouse with an hour-long commute to work or a modest 40-year old split foyer in the D.C. suburbs that needed updating - NOT a McMansion. People felt they had to buy “now” - before home prices went any higher and completely out of reach in their lifetime. They anticipated re-financing in a couple of years, as home prices continued to escalate and their equity grew.
Home buying and borrowing decisions were made in good faith, based on conditions at the time – and no one had a crystal ball in their back pocket to predict the future.
Fast forward five years to 2011, and frustration fills the air as many people lose their jobs or at least their job security… the price for gas and commuting goes up… higher costs for health care loom… taxes and fees are on the rise… bullies and bad guys threaten our kids online and on the street… our nation is threatened daily by extremists who chant in the streets of their homeland, “Down with America!”… and (drum roll, please) home values plummet.
This must be a nightmare!
Unfortunately this is today’s reality, but it won’t fix anything to play the blame game or wallow in a pity party. Let’s go about the business of coping with reality and finding a way to make lemonade out of lemons. It could begin with something as simple as a random act of kindness for a stranger… or a smile…
With that in mind, let me share with you some positive articles about today’s real estate market. (This is a real estate blog, after all.) Why don’t you pass them on to friends… maybe you can put a smile on someone’s face. It’s a start.
Americans Still Want to Own Homes (MReport – 6/11)
Housing and Economic Forecasts Points to Rising Activity (NAR – 5/11)
5 Reasons You Should Consider Selling Now (KCM Blog – 5/11)
Still a Good Time to Buy a Home (Gallup Poll – 4/11)
Home Sweet Home. Still. (Pew Research Center – 4/11)
Real estate: It’s time to buy again (CNN Money – 3/11)
Why your best investment is a house (Wall Street Journal - 1/11)
Most people who purchased a home 3–6 years ago are still making timely payments on their homes, even though they probably owe more than their homes are currently valued. Give them a break… don’t blame them for today’s housing crisis. It’s not fair!
Published yesterday at Margaret’s Maryland Real Estate Blog on Activerain
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