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How to Find a Good Real Estate Agent and What to Expect from Them

Are you a beginner in real estate business? Do you want to make your first property purchase however you’re not sure how to get a good agent and you don’t know what to expect from them? If you find yourself in this kind of situations, read on and you’ll definitely find the right real estate agent for you.

If you have been thinking about real estate investment, today would be a great time. The interest rates are adjusted at historic lows and the process all around the country have already fallen at 2002 levels in numerous places. The question however is, how to find a good real estate agent and what should you expect from them.

First and foremost, you should consider finding an agent through referrals. You can have it from your friends, your colleagues and other professionals whom had worked with that agent in the past that can vouch their responsiveness and integrity. After all, the one you will hire will represent you in one of the biggest decision and investment you’ll make in your life so make sure that they are very trustworthy and they consider your interest as their first priority. Another thing to consider is to visit the local open houses within your area and speak with the present agents that are working with them. This will make you feel how really busy they are based from the number of homes in their list for sale. Also, you are able to get a chance to speak in a very informal setting with an agent to find out how personable and knowledgeable they are.

Once you have already identified your potential candidate in real estate agent, you should interview them first either in person or through the phone. You should consider asking them some things like their term in the business, the products and areas they specialize most, and 2-3 names of their satisfied clients. Remember that the first impressions go a long way. Ensure that they have a strong follow up and they are always right on time. After all, if they cannot get it right for you, you investment will surely go to nothing but waste.

Now that you have selected your real estate agent, you should give him clear parameters of what you are really looking for in order to give them the idea and choose the best. Consider answering this questions and these are things you should tell to your agent:

Is this your first real estate investment?

How much money you are willing to invest in this kind of business?

How much distance from your home you’re willing to consider?

What is the most comfortable and best price range you want for you?

Remember that a real estate business is just like most of the other service businesses. Only 20% of the agents will do 80% of the business. Take your time before getting started in finding the best agent from you to ensure that you’ll get the best deals in real estate business.

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Qualities of a Good Real Estate Agent

All the real estate agents are having their own different qualities, however, there are several common traits that are being considered as a positive for anyone headed into the property market. These qualities will be able to help you in buying or selling you home a lot more quickly while you can also ensure that you will get the best deal possible based on the market at the point in time that you are making the transaction. Thus, if you are finding to head into the property market, you can try finding a real estate agent that is embodying the following qualities:

Honesty

As unlucky as it may be, the real estate industry are having something of a reputation to host people who are selling snake oil to their customers instead of looking out for their best interests. By no means, this describes each agent in the industry, but there are some bad apple who are making it a lot harder to develop that all significant trust than it should really be.

As such, you need to hire a real estate agent who will always be honest with you about your property, and many different facet going into the transaction. Even the best real estate agent are not having all the answers and it will be much more encouraging if you would hear that they do not know but they will try to find out, as opposed to a marketing speak slew being designed to take your focus off the topic.

Hard working

A work ethic will go a long way in the business of the real estate so you would want to be sure that your real estate agent will do everything they can with the goals you have in mind. They must be willing to be carrying out any research that is needed to be done, making full use of the their contacts as well as the marketing facilities at their disposal in getting your property out there or finding you something that you would want to buy.

A good real estate agent will be providing you with regular updates in relation to your potential transaction making the effort in order to keep you at the forefronts of their minds. They will as well be present for viewing, leaving as a little of work as possible at your hands. If your real estate agents would insist you to handle viewings on your own and will be doing all the legwork, it might be the time to find a new one.

Engaging personality

At the end of the day, a real estate agent will have to be able to express themselves, drawing your interest. If they are not able to do that for you, what would be the chances that they can be able to do it for anyone else? Your real estate agent should be personable, friendly and engaging, without a need to come across as dishonest or false. Some may need to develop this through time, whereas there are others who naturally simply charming. However, in order to find success in the real estate industry, they need to be able to talk about the things’ business side without having to lose the interest of the client and ensure that they understand everything that have been said.

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Real Estate Truths to Know When Purchasing a House

Because the real estate market is diverse, wide and has an ever-changing environment, you need to learn it before you enter the playing field. There can be some mishaps and glitches that may occur in your real estate transaction if you are not careful enough. Knowing the genuine real estate facts that will be making the process of your home buying simpler and smoother.

The most significant thing that you need to do before you start looking for a new house is by getting a pre-approval from your leader. This will involve the lender that is going through your assets, income and credit history. The sellers will be requiring pre-approval to even start the buying process, so you have to make sure that you get it done. Also, money should be arranged. Even if you will be taking a mortgage in financing the purchase, you have to ensure that you have enough money to use for partial payment and some other expenses such as home maintenance and closing cost after you own the house.

You need to always be budget conscious. Lookout for what your budget is allowing you to buy and not the other way around. Hoping that a certain low-priced offer will actually be getting you the house is just a wishful thinking since the sellers won’t usually go below what they have been asking for. Also, knowing the market is really important. Each locality has its uniquely own real estate market that is following different price patterns. You need to familiarize yourself with your local market and analyze carefully the property average price and price trends before you go in the purchase.

Another real estate truth when buying a house is that too much expenditure will never be a good idea. The expenses in getting a new house will go out usually of hand, leaving the buyer to be debt ridden. In order to avoid such a situation, you have to spend your money really careful and you need to make sure that you won’t buy any luxury items until you are financially stable. Price rigidity will led to missed opportunity. This does not necessarily mean to overshoot your budget. Instead, it is alright for you to generously spend on your dream house for it is a long term commitment. To shell out extra for a house that you would really like is not that big as an issue and nothing must stop you from buying it.

Second hand homes will be requiring a repair. If you go in for a home that has been used already, you need to always expect some repair work that will be waiting for you, as soon as you have acquired the property. Damages that are small are natural and the seller will not be bothered to repair them as they know that they will leave soon. Purchasing a new house could be a tricky process, most especially for first time buyers who are quite unaware of some intricacies in the process of buying and selling. Thus, to ensure that you have all the information that you may be needing is a prerequisite.

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3 Deal-Breakers to Look For When Inspecting a House

If you’re planning on buying your very own piece of real estate in Grand Junction, the single most important thing you can do after going under contract is to get a home inspection. Without a doubt, hiring a home inspector to go through every nook and cranny of your potential home-to-be is one of the best uses of your hard-earned money.

 

A good home inspector will go through a house with a fine-toothed comb to uncover both the positives and negatives. It should take them at least 2-3 hours and can cost upwards of $600, but a home inspection can save you thousands of dollars in the long run by making known all the problems, how much they’ll cost to fix (should you decide to buy), and the severity.

 

In some cases, however, a home inspection isn’t even needed. If you know to look for these 3 deal-breakers when inspecting a house on your initial walk-through, you can save yourself a lot of money and time by walking away then and there:

 

1) Doors and windows don’t open and shut properly. This is a big one because this could signal foundation problems. Fixing a foundation can cost anywhere from $5000-7000 and sometimes even more, depending on the severity.

 

2) The roof has hail damage or needs replaced. New roofs come in around $3700-7500 and oftentimes your insurance company won’t cover a roof that is over a certain age. If the roof looks worn and leaky, make sure you ask for it to be replaced by the current owner or expect to cough up the money yourself.

 

3) Asbestos. Yes, it still exists in the walls, floor tiles, and around furnace ducts in older homes and can be a real nightmare to mitigate. It’s totally stable and non-hazardous as long as it isn’t disturbed, but what if you want to open up a wall that has asbestos in the plaster? You’ll have to bring in a company that specializes in hazardous materials removal and charges a premium to do it.

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When to Hire a Pro vs. Doing it Yourself

Much like choosing a good real estate broker or home inspector, the decision to hire help when fixing up a house can save you a lot of time and frustration then by doing the work yourself. Some people are very hands-on and prefer to fix things themselves, while most are either too inexperienced or too overwhelmed to attempt DIY-jobs.

 

If you’re facing an upcoming item on the old “honey-do” list but aren’t sure whether you want to tackle it yourself or hire a professional, there are a few questions you should be asking yourself.

 

First of all, what is the scope of the project? Is it something as simple as painting a room or a more daunting task like replacing a water heater? If it’s something easy that doesn’t require a whole lot of technical know-how, you could probably do it yourself, save some money, and learn a new skill.

 

Are you comfortable enough to do it yourself? How familiar are you with the problem/solution? A great way to figure out if you’ll be comfortable on your own is to search the internet for YouTube videos, technical writings, and how-to guides for the specific issue you’re facing. Once you’ve seen what it takes to do it yourself, you’ll have a much better idea about whether you want to hit it head-on or hire a pro.

 

What are the cost savings if you do it yourself? Don’t overlook any tools or materials you’ll have to purchase to get the job done, as well as time. Time is the most valuable commodity because it’s something you don’t get back, so if it’s worth it to you to spend a few more bucks to have someone else do it, use the time you’ll save on something a lot more fun.

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What is the best time to put your home on the market?

People are always asking me When is the best time to put your home on the market?

In my opinion there is no “best time” to put your home on the market. If you chose a Realtor who is educated about the market and is moving properties regularly, you don’t have to wait until a particular time to put your home up for sale. I think sometimes it is better to watch the market and chose a time to list based on when inventory is low in your price point and area. When the market gets flooded with inventory, that creates a lot of competition. The whole idea is to make your home stand out from the rest! Choosing when to list sometimes isn’t a choice and the good news is, each time of year has its own perks.  Inventory is lower in the cooler months and there are typically more buyers in the warmer months. With that being said, you want to make sure that no matter what time of year you put your house on the market, it is “show ready” and that you are not just throwing caution to the wind and attempting to see what the market will bring. Be educated about the market and that will net you more money in a shorter amount of time.

For help with this or any other real estate questions contact myself or a member of my team!  970-270-5705

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Leading the Pack or Left in the Dust?

Technology

What does technology mean to you? Do you stay up with it? Or try? I believe many of us try to stay up with “The Jones” with the newest iPhone or TV but have you ever thought about if your Realtor stays up with technology? Do you even know what that could mean to you as the Buyer or Seller?

Leading the pack

We at The Joe Reed Team consistently stay up with the latest trends in technology. When I started in real estate back in 2004, I like all Realtors back then, took their own photos with a point and shoot camera. Disappointed in my photography skills, I met my now friend Leah and started taking more professional pictures with a much more expensive camera. I didn’t stop there, I wanted more!! Leah then introduced me to my now photographer Jim Adams, Leah’s husband. Since 2006 I have had professional photos done on all of my listings, regardless of price. Back in those days only million dollar homes had this courtesy. I essentially raised the bar of real estate photography in Grand Junction. Can you believe that there are some agents that still, in 2016, taking photos with their iPhones or point and shoot cameras? 

There is a similar story to Virtual Tours. In 2010, I wanted to raise the bar again with how virtual tours were done. I had a client in New York and he wanted to see the house thru video because the listing photos were so terrible. I had a dilemma; then I had an idea.  I had met Erika, Matt, and Joe Jones a year prior and they together ran with my vision of how virtual tours should be done. I was tired of the fish bowl look and wanted something more. I wanted a virtual tour that if you were a Buyer who was looking at the house online, you could feel yourself walking through the home. So we started the HD walking tours we now have. They have evolved with the ever changing technology. I went back and looked at the first one we did and I think to myself, “THIS was revolutionary back then!?”

The Joe Reed Team is always on the leading edge of technology whether you are buying or selling. If you are in the market or know someone who is, let us help.

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How Long Should You Live in a House that You Buy?

During the real estate boom of the early 2000’s, there was any number of self-help gurus out there pitching the idea of flipping homes for money. This, perhaps, is responsible for the fact that many people genuinely wonder how long they’re supposed to stay in a house that they just bought. This is particularly true for first-time homebuyers. Many of that crowd are going to be looking to upgrade shortly after they buy their home.

 

According to many experts, it’s best to consider staying in the home for five years after you purchase it. This gives you a chance to get past the first few years of your mortgage, when you are generally going to be paying a lot more in interest than anything else. At the five-year mark, you should be to the point where you are actually getting the advantages of owning a home financially speaking.

 

You will also have had enough time to get the money together to deal with another real estate transaction. It’s important to remember that, when you upgrade in homes, you’ll be going through the same process you did when you bought your first home. That means inspections, closing costs and other expenses that you will have to pay in order to sell your home and purchase another.

 

One of the best ways to figure out whether or not selling would be advantageous to you is to talk to a real estate agent in Grand Junction who has experience working as a seller’s agent. They can take a look at the market, your position in the home, what’s available to you in your price range and so forth and help you determine whether it might be a good idea for you to move or whether you may want to hang onto your home for a couple more years to get more of the benefits of ownership.

 

http://moneyning.com/housing/the-five-year-rule-for-buying-a-house/

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Are You Ready for a House?

If you’ve been renting for years, you are probably sick and tired of seeing your rent money going toward nothing substantial. You no longer want to see your money swirl down the drain, so you are thinking about buying your own home somewhere on the Western Slope. However, some people simply aren’t quite ready to get a new home right now. You do not want to try to buy a home only to find out that you simply can’t afford it. Let’s look at some signs to see if you are on the cusp of getting into a property you can call your own.

 

First, it’s all about the finances. You have to be ready to buy a home financially, and that means more than just having a down payment. It is important to have a good job that’s reliable and that pays enough to cover the mortgage and all of your other expenses. Keep in mind that owning a home means you will need to have extra money for taking care of emergencies. If there is a plumbing problem, for example, you have to be the one to take care of it rather than simply calling management or the landlord.

 

Second, a home takes more upkeep than an apartment. You have to make sure that you keep the lawn under control. You need to paint the house every few years as well. Do you have the time to take care of these things? If you don’t, do you have the extra money to pay someone to take care of it?

 

Never get into a house if you really aren’t ready. Look at the pros and the cons, and all of the expenses that come with buying a home, and then you can buy. Don’t worry; you will find some great properties on the Western Slope if you buy tomorrow or if you have to wait another year.

 

Resource: http://www.bankrate.com/finance/real-estate/buying-your-first-home-signs-youre-ready-1.aspx

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What Type of Investor are You?

Since the past few months with all of the volatility in the financial business markets, it’s a better time for people to get back to the basics to determine what kind of investors they are. In actual sense the investors falls under three categories that includes, the long term investors, the traders & the speculators.

Most Often, our popular social media and news networks are centered to short-term focus therefore they convey the idea of the trader or speculator to the people everywhere. This calls for confusion among the Long-term investors. Today let me discuss each of the three kinds of investors, along with the different ways which they adopt to interpret in market volatility.

Long-term investor:

This type of investor stays in the stock market for a long period. They know that the financial status and markets will experience ups and downs over a long haul. They believe that each up market would reach a higher level than the previous one, and it will motivate the investors to invest in the market.

Most Often, Long-term investors have diverse portfolios of stocks, cash, bonds, real estate and few other assets. It helps them to gain smoother rates of return and it also leads them to avoid the need to move in and out of the market at every anti- headline.

The Traders:

The Second category of investors is comprises of traders. Generally, there are two kinds of traders in the Volatility market. Some are those that trade on other’s behalf. Such traders including the Wall Street trading desks that execute trade on behalf of others. The time period for such traders can be in minutes, hours or even days.

Other type of trader executes trading for his personal account. The holding time period for such traders is likely to be more than Wall Street traders, but still quite shorter than the long-term investors.

Speculators:

The third type of investors is made up of speculators. This category of investors will be less likely to diversify and more to concentrate in individual sectors or securities. They might also concentrate their capital in speculative type securities. Finally, they might also tend to take positions with borrowed finances.

Investors should clearly clarify to their advisors that what they are exactly attempting to do. They must define themselves to their advisors that they act as a long term investor, trader or speculator.