Real Estate Q&A - 402Homes4U.com

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Q&A

11/4/2015

Today’s question:
Q: I was going to list my house a few years ago but the Realtor wanted to list it much lower than I wanted to sell it for. Are property values better now than they were a few years ago?

A: Although property values in Omaha have generally increased over the past few years (approximately 6% over the past year), there are additional factors that could affect each home and neighborhood specifically, that could cause a stagnation or decline in its value. The best thing to do is, get a comparative market analysis (CMA) from your Real Estate Agent to see what YOUR neighborhood valuations currently look like. I provide these for FREE! Just send me your address and I’d be happy to send you one!

Q&A

11/3/2015

Today’s Question is:
Q: My mom wants to sell her house, but she wants to sell it on her own (FSBO). Do you have any advice for her?

A: Yes. Hire an agent. I’m not saying your mom won’t be able to sell her house on her own. I’m saying the majority of FSBO’s end up listing with an agent for a reason, it’s not easy. Even the founder of ForSaleByOwner.com ended up using a Real Estate Agent. Agents have gone through certification, testing and required continuing education classes because there are a lot of pit falls in real estate. The documents she will be signing are legally binding. Unless you have not only been trained in real estate, but have experience with the many different scenarios that arise with inspections, appraisals, disclosures, title issues, lender issues, etc… hiring an agent is the safest and smartest way to sell a home.

Q&A

11/2/2015

Today's question is:
Q: You mentioned before that there are things I SHOULDN'T do while I'm trying to buy a house. Like what?

A: After you get your pre-approval, you want to be VERY careful to not do anything that would change the status of your approval. These are the "10 Commandments" that your should follow during the home buying process:
1) Thou shalt not change jobs, become self-employed, or quit your job.
2) Thou shalt not buy a new vehicle or other major expense.
3) Thou shalt not use credit cards excessively or let current accounts fall behind.
4) Thou shalt not spend money you have set aside for closing.
5) Thou shalt not omit debts or liabilities from your loan application
6) Thou shalt not let anyone pull your credit.
7) Thou shalt not make any large deposits without checking with your loan officer on how to properly document it.
8) Thou shalt not change bank accounts.
9) Thou shalt not co-sign a loan for anyone.
10) Thou shalt not pay off any collection accounts or charge offs prior to closing.

Q&A

10/23/2015

Today's question was:
Q: I'm planning on buying a home after I get my income taxes back next year. Should I be doing something now to prepare?

A: YES! I get this question often. It's VERY important to have a loan officer look at your credit report early on, in case there are any issues that you're not aware of. Sometimes it could take up to 6 months or so to get some issues resolved. Also, because of new federal guidelines, a lot of loans will take longer to close than before. (aprox 2 months... IF there aren't any issues) So if you want to be settled into a house by... let's say July, we need to have found "THE House" & have the contract in place by May. So it would be a good idea in this scenario to start working with a loan officer now to clear up any possible issues you may have, and educate you in what NOT to do, so you can make a solid offer in May (to be settled by July.)

Q&A

10/22/2015

Today's question was:
Q: I saw your Q&A yesterday about not charging your buyers. How do you make money then?
A: Although this isn't really the type of Real Estate question I was expecting, the curiosity of the question made me laugh, so I thought maybe other people might be wondering the same. I get paid by the seller! Let me explain... When a seller lists their home with an agent, the commission % that the agent charges them to list their house goes to 4 different parties. Out of that commission, the listing agent has to pay THEIR broker, Me, MY broker and themselves. I don't get paid hourly or a salary. I only get paid if my clients buy/sell a house.

Q&A

10/21/2015

Today's Question Was:
Q: Do I have to pay you a fee to help me buy a house?

A: No. My broker does charge a fee, but I don't like it or agree with it so if the seller won't cover it for you, I will pay for it out of my own pocket. I REFUSE to charge my buyers a fee for my services.

Q&A

10/21/2015

Today's Question was:
Q: Where do you suggest finding out if we qualify for a home loan?
A: I usually send most of my clients to a trusted loan officer that I've worked with several times in the past, Corey Campbell with Eagle Mortgage. I know that he does a great job and has helped people who aren't quite in the position to by yet, work on their issues to help them buy within the next 6-12mos. His website is www.EagleMortgageCompany.com. You can apply online and he will get back to you ASAP!

Q&A

10/19/2015

Today's Question was:
Q: I saw a house I would love to take a look at. Should I call the # on the sign in the front yard, or call you?
A: The phone number on the sign in the yard is the listing agent's. They are able to show you the house however, THEY REPRESENT THE SELLER. They're able to represent you as well, in what is called a "dual agency". Dual agency relationships owe LIMITED fiduciary duties to buyers. (meaning, their greater interest is that of the seller's) However, if you call me, I will happily show you the house, represent you and ALWAYS have YOUR best interest in mind. :)

Sold and Sold!

9/30/2015

A few awesome clients!

9/1/2015

Melissa & Jennifer & Mark

Disclaimer: I am not a Real Estate Attorney, CPA, Inspector or Appraiser. Please verify all information with appropriate professionals prior to making any decisions to buy or sell real estate.

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Veronica Contreras:
Professional Realtor

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