Addressing the Buyer Agent’s Fee
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Traditionally in the U.S. housing market, the seller has offered the buyer’s broker and agent a share in the commission specified in the listing agreement between the seller and the listing broker and agent. In a settlement between the National Association of REALTORS�, beginning on August 17, 2024, buyers… Read More
U.S. Homeowners Property Tax Increase
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Last year, U.S. homeowners faced an average property tax bill exceeding $4,000, marking the highest increase in five years, according to data from Attom Data Solutions, a real estate data firm. Property taxes nationwide amounted to over $363 billion in 2023, reflecting a 6.9% rise, largely attributed… Read More
Use Ben’s Balance Sheet to Decide
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There is a technique that has been attributed to Benjamin Franklin and used when faced with a decision. As the lore goes, whenever Ben was faced with a decision, like you are now, he’d take a piece of paper, draw a line down the middle of it. On the… Read More
Is a written buyer’s agreement necessary?
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Beginning August 17, 2024, many agents will be required to enter into a written agreement with a buyer before touring a home either in-person or through a live virtual tour and buyers should be familiar with what it entails. There have been buyer agreements for decades in the real… Read More
Tips to reduce your homeowner’s insurance cost
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Home insurance rates have increased by almost 20% nationally between 2021 and 2023 and even more in some states like Arizona where rates have jumped 62% in some cases. The appreciation that homeowners have enjoyed, especially in the past four years, has caused premiums to increase because the values… Read More
Finding Affordability in Lessons of the Past
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In the 1980s, home buyers faced significantly higher mortgage rates compared to today’s market. Despite this challenge, many people successfully purchased homes and made them worthwhile investments. They employed a range of strategies to manage costs and ensure affordability. Here are the key tactics they used, explained in detail:… Read More
Convenient but not accurate can cost you money
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Online estimates like Zillow, realtor.com, Redfin, & Homes.com are convenient, but typically lack accuracy and may have a significant margin of error. They are constructed using a computer-generated algorithm that utilizes historical public sales data and trends called an Automated Value Model, AVM. National AVMs derive values from automated… Read More
Benefits of Checking your Credit Regularly
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You are encouraged by the Federal Trade Commission to be sure the information on your credit reports is accurate, complete, and up to date at least once a year. It is an important part of your financial life that can determine whether you get credit, the terms of the… Read More
An annual home equity update benefits homeowners
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Homeowners should verify their home’s equity at least once a year because the two factors that affect it change regularly. Market value changes and the unpaid balance of the home decreases with each monthly payment made on an amortizing loan. Amortization and appreciation cause the equity to increase in… Read More
Is a friend your best choice for your agent?
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In the realm of real estate transactions, the decision to engage a friend who also happens to be an agent may seem like a tenuous situation and may cause some hesitation. Concerns about how professional relationships may impact their personal connection occasionally weighs on a person’s mind, leading them… Read More