Archive for the ‘Real Estate Market’ Category

Your home represents an important financial asset.  When it’s time to sell, put yourself in the buyer’s shoes.  He’s in the same financial boat and will want the most house he can get for the money. The stakes are too high to play the do-it-yourself game in this monetary arena.  The best advice is – let an expert from Hoisington Realty work with you to sell it.

“Why a Realtor, when I can sell it myself and save the commission?” you may ask. “Right?”….WRONG!

The average buyer is far from naive.  Before you even start serious negotiations, he’ll expect you to deduct the Broker’s commission for HIS benefit.  Then you’re on your own in the critical areas of financing, mortgages, contracts and deeds, etc. Your home will be exposed to any and all unaccompanied strangers who knock on your door.

An agent from Hoisington Realty can help save you from these headaches and dangers.  He or she will protect your interest and assist in selling your Bennington area real estate at the best price.  To learn more about our agents, click here.

Like any purchaser interested in Bennington real estate, you want to be able to shop and compare before you make an offer.  I tell buyers that by the time they are ready to make an offer they will know the Bennington area real estate market as well as I do and that is my first goal for them. I want to be part of the process that makes them informed purchasers that will help them get the home they choose.

There is nothing worse than an “uninformed” buyer making a ridiculously low offer that will only cause the seller to become non-negotiable. On the other hand, a buyer who emotionally reacts too quickly will most likely suffer buyer remorse during the contract period. A seasoned professional, your Realtor, can aid you tremendously in avoiding these pitfalls and assist you in finding your home in southern Vermont.

Now, back to the question – how long should you look? If you are serious about buying this year give yourself a month but certainly not more than 3 months to educate yourself before settling on a property.  There are high inventories in many price ranges and this can be confusing.  You don’t have to look at all of them, personally.  Use virtual tours on http://www.realtor.com/ and individual Realtor websites to get an excellent idea of what meets your needs and desires. However, it is very important to broaden your search in three ways:

 1)  Look at properties listed for 10% above and below your exact price range as this is a moving target.

2)  Do not insist that all homes have to be Colonials or ranches or any one particular style. While you are looking, remember that you are becoming an informed buyer and it is wise to check a variety of properties to get a sense of value.  

3)   Last but not least, keep a list of interesting properties and what you personally think they are worth and check the  properties that sell and see how close you came to judging the selling price.

If you look too long, you may lose your first choice to another buyer and too much time searching for the “perfect home” can confuse you rather than help. NOW IS THE TIME TO START YOUR SEARCH….GREAT RATES, GREAT INVENTORY AND A FIRST TIME HOME BUYER’S CREDIT OF UP TO $8,000. Good luck and enjoy the process!!  

YES! The stimulus package has confirmed that there will be a tax credit (not a loan, a credit) of up to $8,000 that should boost every first home buyer’s motivation to get into the Bennington real estate market now…….It won’t help everyone because credit scores of 700+ are the ideal and job loss, job furloughs or even a reduced salary as a result of the current economy may impact your credit score. However, for those with jobs and close to or above 700 credit scores THIS IS YOUR LUCKY DAY!…..I defy you to reason out why paying rent, which is a total loss at the end of the year, is better than buying a home and receiving deductions on your taxable income for mortgage interest, real estate taxes and even some of your closing costs. Don’t forget the prices in Southern Vermont are at all time affordability and interest rates remain at all time lows. Low down payment loans through FHA and other Vermont State programs make this all doable.

That’s just the beginning of the story because if we can get first time home buyers in Bennington and Southern Vermont moving, there will be a subtle wave of building home sales….for instance the purchase of a small house by the first time home buyer allows that seller who has owned for five years to upgrade into the next price range and that seller also gets to upgrade to his new level of dream home and onward and upward it goes! Those folks living in metropolitan areas will experience the same phenomena and once the banks are in recovery, Wall Street will be relieved and begin showing confidence and once again people start investing in second homes…..

So……..those of you who are first time home purchasers, this is why you have been singled out for such a great bonus – it’s up to you to get the market moving and we are counting on you! You have the opportunity of a lifetime – don’t miss it!