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Ask the Real Estate Expert

Conquering your fears Assisting people find answers to their real estate questions is the primary goal of this blog. Fear of the unknown, financial status (credit worthiness) and lack of real estate knowledge are some of the biggest obstacles preventing would be homeowners from purchasing a home. Instead of investing money into their life through real estate, they invest in their landlord's life and help him pay his mortgage. The landlord will have a tax deduction and is happy to sit back and collect the renter's money while his land increases in value and your bank account gets smaller. STOP this cycle and take charge of your own family's destiny. Start making plans to give yourself the benefits of home ownership. Create the memories that will stay with your family forever. Become a part of home ownership. Consult a Professional Consulting a real estate professional is one of the ways to overcome a major portion of fear of the unknown. No one can predict the future, but a real estate professional will have knowledge and insight into the market that John Q. Public may not possess. Through the Multilist system (MLS), membership in local and national associations, affiliations with banks and mortgage companies and other systems the realtor has in place, a potential buyer can get a really good look at what is happening in the housing market now and in the near future. Another part of consulting a professional is getting a pre-approval letter from a recommended lender. This will allow a buyer to review their credit worthiness and is a free service. A good real estate agent will know who to recommend for that process depending on the buyer's financial status. Various lenders focus on specific groups.  Are you going to restore a home and need a contractor loan? Do you qualify for any federal, state or county money? Does a city have incentive money available to purchase a home in a certain area? Does your employer offer incentives to live within a certain area? A professional mortgage person can help you get these answers. They will give you the price range of a home you can afford, thus eliminating the financial worries. A bit of bad credit? Mortgage professionals can put you on the track to cleaning up your credit and get you qualified for that future mortgage. All of these services are free and put you on the track of home ownership. All Real Estate Agents Are Not Created Equal Educate yourself about real estate by learning from the best. Interview realtors.  Remember however, that the best presentation is not always the best realtor.  What separates one realtor from another is RESULTS. Ask them about their education, their experience, their market results, for recommendations from past clients who may have been in a similar situation. Take your time.  A good realtor will not work at their speed, but at yours. A good realtor will educate the buyer as they begin to tour homes. They will point out what may become a problem and what is safe to overlook. Buying new construction? Make sure the realtor has experience in dealing with builders. Some important facts to keep in mind are: All realtors are working for the seller unless you have a signed Buyer's Agency Agreement with them. There are certain details a realtor is not allowed to disclose with the buyer unless they have signed a Buyer's Agency Agreement. Once that is in place, the realtor is free to discuss any and all details and information on the home to the potential buyer. The buyer of a new construction home needs a realtor to represent them. Sales agents in model homes represent the builder's interest, NOT YOURS. Having your own realtor may save you money and the builder pays the fee. Trying to sell your own home? Are you aware of your legal responsibilities? If not, you may face a legal tangle down the road and a possible law suit. I'd Be HonoredIf you, your friends or family ever have real estate needs, I'd be honored to assist you. The greatest compliment a client can give me is a referral. I have a degree in business and economics from the University of Delaware and beyond the normal training in real estate, math and law for realtors, I have my CRS designation (Certified Residential Specialist)which entails extensive course work that only approximately 4% of realtors have completed. I'm also a certified e-Pro. This is another certification in todays market that is extremely important. The internet is the present and future of real estate. A good agent will be on top of the wave of technology being offered today or their business will drown. Please feel free to contact me through the blog, e-mail or phone and I'd be happy to help you with any questions or concerns about real estate. Also, check out my web site:www.DelawareHomeInfo.comThanks,Steve302-367-5852 direct linesteve@stevetolmie.com

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