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. 

That’s when I discovered Mixed Elements’ beautiful facility, friendly and competent staff, and LOWER PRICES than the local salon I’d been using for years. Now you have a great excuse to experience Mixed Elements during their semi-annual Color Jam next week, on February 7.  Enjoy a 20% discount off their already “lower than the competition” prices for the following:

• Colors, foils and styles
• Nail services
• Eyebrow waxing
• Boutique items
• Select retail items*

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:

Q. Now that my contract on a home has been accepted, what’s next?

A. That’s a question shared by many first-time home buyers, and even some people who have previously purchased a home.  Every transaction is different, so the list may vary from one house to the next, but this will give you a general idea what to expect, including information you will receive and things you must do:

CONTRACT TO CLOSING CHECKLIST FOR HOME BUYERS

• Good Faith Estimate – The lender’s estimate of your closing costs.  You may have received this from your lender already.  If not, you will receive it shortly.  The Good Faith Estimate (GFE) will outline your closing expenses from the lender, title company, and other third parties such as any condo or HOA association. When you receive this, please send a copy to me so I can review it and suggest to the lender any changes unique to your contract. 
• Appraisal – The appraiser’s opinion of the property value.  Hopefully the appraisal will come in at the sale price agreed by you and the seller.  If the appraisal is low, we will have a problem: Either you will have to come up with more cash or the seller will have to drop the price.  Please pray to the appraisal gods, cross your fingers and toes, and carry your favorite good luck charm in your pocket until the appraisal comes in.  Appraisals can be very unpredictable in this market.
• Loan commitment – Final loan approval, based upon receipt and review of all required verifications, including a satisfactory appraisal.
• Postal Service –  After your loan commitment is in hand, you can start notifying your credit card companies and others of your new address and the effective date of your move.
• Moving Arrangements –  After your loan commitment is in hand, you can finalize your moving plans.  (Don’t assume you can’t afford professional help because local moves are probably less expensive than you expect.)
• Home owner’s insurance – Required by the lender to protect against expenses incurred due to fire and other hazards.  Check with your family and friends to find out which insurance company and agent they use and why… but make your own decision based on comparison shopping for cost, benefits AND services.  A policy must be paid a year in advance and a copy provided to your lender before they will release your loan proceeds to the title company.  At closing, the lender will collect an extra two months of insurance premium, and 1/12 of the annual premium will be part of every monthly loan payment so the lender will have enough to pay your insurance next January.
• Utilities –  Contact the utility companies prior to closing. The Settlement Notice I send you will include a list of them and their phone numbers.
• Pre-Settlement Inspection –  We will schedule this three-five days prior to the scheduled settlement date, and confirm the day and time a week earlier.  The purpose of this inspection is to make sure the property is in the condition you expect, that all the appliances are in working order, and the home inspection repairs have been completed satisfactorily.
• Closing funds – A certified or bank check for the amount due from buyers at settlement.  The good faith estimate from your lender will have this amount, but you should contact the settlement company to find out if anything has changed before you go to the bank for your closing funds. (Their contact information will be on the Settlement Notice I send you.)
• Settlement –  Settlement is when all the final paperwork is completed and all the money changes hands, other than a few items paid outside closing (POC) such as your insurance and lender charges, if any.  I will provide you with a Settlement Notice that includes the date, time, and location of closing, contact information for the settlement company, and a checklist to help you prepare for settlement. 
• Happy Ending – When you walk out of settlement, you will hold the keys to your new home in your hands.  Congratulations!

If you have any questions about the home-buying process, feel free to contact me.  No cost or obligation, of course.

_______________________

“Balance” is the barometer I use to evaluate the Crofton real estate market and predict its short-term future direction. This is done by determining whether new sales and new listings number about the same. (If new listings are double the number of new sales, for example, it’s a bad thing for sellers and a good thing for buyers.) New pending contracts in December and new listings were very much on balance:  fifteen new listings vs. fourteen new pending sales.  

Crofton home sellers and buyers can both find something to like in the December real estate report, as balance seems to be returning. Could we see a “normal” real estate market in 2012?  I hope so.

If you’re a statistics junkie and want more details about the Crofton real estate market, I’ll be happy to share it with you.  Just give me a call for the latest information.

P.S. Watch for my article on Crofton real estate in The Washington Post.  I’ll post a link on my Facebook business page when it’s published so you don’t miss it.

Current Crofton Listings