Glad Heart Realty Agent Sharon Eaton is sharing with us new developments coming to Kansas City. Stay tuned for more videos and information!
This blog is directed to a person or family who wants to buy a house to live in. This does not apply to investors who have cash, crews, connections, and experience.
If you are looking to buy a foreclosure, live there, and fix it up, it is a great idea if you can find the right house. A majority of foreclosures need a major amount of work, so you have to think about a few things.
The good news is you can usually have first crack at a foreclosure. There is a 10 day window when it hits the market that only owner occupied purchasers can bid on. This is to give the regular guy a chance, and not let the investors buy everything up.
My observations over the past few years:
Foreclosures usually drop the price $5,000 to $10,000 every 30 days, after 90 days they are more negotiable. They are not very negotiable in the first 30 days, and many times get above asking price.
Dealing with a bank is different than dealing with a seller (person), the bank is on their own time schedule.
Be prepared to walk away if inspections don’t go well. There is no renegotiating with the bank. You are buying the house as-is. I just learned this one the hard way J. You might hear otherwise, but 98% of the time they will NOT renegotiate for repairs.
I like to tell first time buyers that they may want to spend $20,000 to $30,000 more on a house and get something that is nicer. That is about $40 to $60 a month more. Instead of taking $1,000’s out of your pocket, and not knowing when it will end.
I have sold many foreclosed homes and have had happy clients. I just like to help people understand what they might be getting into. It is a big deal to buy a house!
What are your thoughts? Have any of you had a great experience or a bad experience with a foreclosure?
By Wendy Manaco
I have been thinking about why buying a house is so emotional. You have probably heard that from the real estate professional. I will meet with a person and will listen to their wants and needs, carefully taking notes so I can best serve them. We will peruse the internet, looking for the house that meets their needs, has the right amount of bedrooms, bathrooms, garage, and basement. I call these the non-negotiables.
The buyer will then tell me what their wants are, such as big yard, a deck, a front porch, prefer a dead end street, brick house, vinyl siding, no vinyl siding, small yard…. You get the idea. Everything has to fall under the umbrella of PRICE RANGE! So we usually have to be ready to let some things go.
I have heard this a million times “if we could just take this house and put it on the other lot”. It is a common problem. We can look at 10 houses that have all the needs, but they just don’t have the mojo, the buyers are saying “it’s nice…but. I always want to give feedback to the seller’s agent after looking at houses, but sometimes all I can say is “they weren’t feeling it”; but great house.
I LOVE when we walk into a house and you can feel the buyer’s smiles, they are “feelin” it. Now this house may or may not have all the wants and needs, but it feels good, like home. I LOVE THIS!!!
It reminds me of the list I had for my future non-existent husband before we met. I had a nice list of wants and needs, but let’s just say, the list went out the window on our first date. I think he could have eaten the shrimp tails and I still would have fallen in love. Oh wait, he did eat them. I should have known then. He was a lot of things I never wanted, like Italian, yuck, and tall, not my favorite. He was just barely a Christian, so we got that one covered, had 2 kids, wasn’t too sure about that.
None of it mattered. I was in love; it was emotional, a bit irrational. Oh well it worked out. I am a happily married woman with a big Italian husband.
By: Diane Bickle
These 3 factors determine a satisfactory and timely sale on your home.
Your Glad Heart Realty professional will inform you of important information that affects the asking price of your home.
Factors that affect price are:
Offer better terms than your competition to position your home ahead of your competition.
Some terms to consider are:
Appearance is everything! Your home should look it’s very best the day you go on the market.
Some appearance considerations are:
By: Michael Cirelli
There is nothing quite like that feeling, you’re sitting at home waiting for what seems like days for your agent to call you and say one of the greatest phrases you will ever hear: “Your offer has been accepted!” Take a moment and let it sink in; you just took a huge step in the journey of home ownership. Feelings of excitement fill your heart as you think about the fact that you are under contract. This good news is followed by about 45 days of a roller coaster of emotions until you close on your new home.
What are your next Steps? There are 3 major next steps.
This isn’t everything you need to know – but it’s the broad strokes. Your Glad Heart Realty agent will answer all your questions, keep you on target, and on your timeline to a successful close.
This is a great day! Relax, have fun and embrace the journey to home ownership.
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