5 Reasons You Need a Real Estate Agent

1. A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.

2. Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of ____ days. And it usually takes another 60 days or so for the transaction to close after an offer is accepted.

3. Real estate has its own language. If you don't know a CMA from a PUD, you can understand why it's important to work with someone who speaks that language.

4. REALTORS® have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you've done it before, laws and regulations change. That's why having an expert on your side is critical.

5. REALTORS® provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they'll every make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you. 

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6 Creative Ways to Afford a Home

If your income and savings are making home buying a challenge, consider these options.

1. Investigate local, state, and national down payment assistance programs.

These programs give loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program,http://www.getdownpayment.com, and the American Dream down payment fund from the Department of Housing and Urban Development.

2. Get the seller to provide financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you do with a mortgage.

3. Consider a shared-appreciation, or shared equity, arrangement. Under this arrangement, your family, friends, or even an third-party may buy a portion of the home and thus share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and maintenance costs, but all the investors' names are usually on the mortgage. There are companies that can help you find such an investor if your family can't participate.

4. Get help from your family. Perhaps a family member will loan you money for the down payment and/or act as a cosigner for the mortgage. Lenders often like to have a cosigner if you have little credit history.

5. Lease with the option to buy. Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the purchase price. You usually have to pay a small, nonrefundable option fee to the owner.

6. See if you can qualify for a short-term second mortgage to give you the money to make a higher down payment. This may be possible if you have a good income and little other debt. 

More Buyer Info 

www.tucsonhomesteam.com

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5 Factors that Decide Your Credit Score

When you are ready to purchase a home, you will realize that your credit score becomes very important.  Not only will it determine whether you qualify, it will also factor in to what your interest rate will be.  This affects your monthly payment, and ultimately the sales price of the home you will purchase.  Scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score:

1.  Your Payment History and whether you paid credit card obligations on time.

2.  How Much You Owe. Owing a great deal of money on numerous accounts can indicate that you are over-extended.  This is also known and your 'debt to income ratio'. 

3.  The Length of Your Credit History. In general, the longer the better.

4.  How Much New Credit You Have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.

5.  The Types of Credit You Use. Generally, it's desirable to have more than one type of credit?installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, go to http://www.myfico.com/?lpid=NARI3. 

#tucsonrealtor #myfico #financingmyhome

When you are shopping for a home, you may not be thinking about property taxes, but you should. Twice each year a tax bill comes, and before it does, consider these questions. 

1.  What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller's tax bill to help you determine this information. 

2. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.

3. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. Is your tax bill based on a value that doesn’t exist any more?

4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

5. Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.

For more information on how to appeal a tax bill yourself or to find the forms, click here 

#tucsonrealtor #tucsonpropertytax #localexpert

How to Change a Habit: The One-Page Method

Preface: You are not aware that anything is wrong with your harmful habit. True, there was that one time...but you’d rather not think about that.  Your habit and you are a happy couple. 

“I can resist everything but temptation.”  ~ Oscar Wilde

“How often it is that the angry man rages denial of what his inner self is telling him.” ~ Frank Herbert

Chapter 1:  As a result of your habit, you get a figurative or literal kick in the backside. You think about changing.

 “We must embrace pain and welcome it as fuel for our journey.”  ~ Kenji Miyazawa

“A man too busy to take care of his health is like a mechanic too busy to take care of his tools.”  ~ Spanish proverb

Chapter 2: You get a Big Idea. This inspiration could fuel the change you want to see in yourself! This is your personal motivator!

“There is nothing more powerful than an idea whose time has come.” ~ Victor Hugo

“We generally change ourselves for one of two reasons: inspiration or desperation.” ~  Jim Rohn

Chapter 3: You make the decision to change.  

“(Y)ou only need one decisive act of free will to transform the course of your own life.” ~ Jill Ker Conway

“You have to decide what your highest priorities are and have the courage -- pleasantly, smilingly, nonapologetically -- to say 'no' to other things. And the way to do that is by having a bigger 'yes' burning inside.”   ~Stephen Covey

Chapter 4: You make a simple plan or choose a program to guide you as you change.  

“A goal without a plan is just a wish.” ~ Antoine de Saint-Exupery 

"He who has a why can endure any how."  ~ Friedrich Nietzsche

Chapter 5: You begin your change.

“To be in hell is to drift, to be in heaven is to steer.”  ~ George Bernard Shaw 

“Action may not always bring happiness, but there is no happiness without action.”  ~ William James

Chapter 6: You stumble. You lapse into your old ways. You try again. You alter your plan. You find better support. You fall again. You get up again. You keep going.

"He who never makes mistakes never makes anything." ~ English proverb

“To be enlightened is to be without anxiety over imperfection.”  ~ Buddhist saying

“Courage is not the absence of despair; it is, rather, the courage to move ahead despite despair.”     ~ Rollo May

Chapter 7: Time passes. You hang in there, working on your goal. It’s getting easier. Slowly a new habit, a better habit, takes shape.

“Discipline is remembering what you want.”  ~ David Campbell

"Energy and persistence conquer all things." ~ Benjamin Franklin

Chapter 8: Your new way of life has become second nature. You’ve improved your life, your health, or your relationships, probably all three. You did it! 

“He who controls others may be powerful, but he who has mastered himself is mightier still.” ~ Lao-tse

“I am, indeed, a king, because I know how to rule myself.” ~ Pietro Aretino

Do you have a quote that has inspired you as you changed your life in some way? Share it in comments!

(c)  Meg Selig, 2012  Author of Changepower! 37 Secrets to Habit Change Success(Routledge, 2009), the 232-page version of the one-page book above

SOURCE

The Upside to Downsizing

The latest craze in housing is no small feat. The tiny-house movement has taken downsizing to a whole new level. Build your own 150-square-foot haven for around $20,000 and say goodbye to your mortgage! Sounds great—as long as you don’t mind composting toilets and bumping elbows for the next few years.

Of course, you don’t have to go to these extremes to save a few bucks.

Most American families have plenty of room to size down without cramping their style. Consider the numbers: The average single-family home built in 2013 was nearly 2,600 square feet. You may not think that’s all too big until you look back at history. In 1950, the average home size was less than 1,000 square feet—and families were bigger back then. By those standards, today’s homeowners are living large!

Moving into a smaller home may feel like a step down, but a closer look reveals quite a few upsides.

Less Is More

One question we always hear when the topic of downsizing comes up is: “Where will I put all my stuff?” Here are a few ideas: your neighborhood yard sale, eBay, or Craigslist. That’s right—sell it and take that money to the bank, baby!

Sure, a smaller home means less space, but it also means less time, stress and money spent on upkeep. Think of all the fun you could have if you didn’t have to polish your miniature unicorn collection every weekend. You just might find a whole new world outside your door!

Shrinking your square footage might mean your family has to gather around one TV at night instead of spreading out across three or four different rooms (Gasp!). But is more time with the ones you love really all that bad? It just might be the kick in the pants you need to spend more quality time together!

Is Downsizing Right for You?

Downsizing might not make sense in every situation, but it’s worth a look if saving money and simplifying life appeal to you.  We can help you determine what your home is worth and show you options for cutting costs down to size. A true pro knows what it takes to get top dollar for your current home and negotiate the best deal on a new one.

Ready to downsize but don’t know where to start? Call or email today and we can set up a time to talk about your options!

Want To Know What A Buyer's Agent Is?

A real estate buyer’s agent represents the consumer who is purchasing a property in the transaction. This agent owes full responsibility and loyalty to the home buyer. He or she has solely the buyer’s best interests in mind throughout the entire transaction process. The agent is compensated at the close of escrow, and the fee is paid from the seller's proceeds, which have been paid to the seller, via the buyer's loan. 

There are many benefits to using a buyer’s agent. These agents will: 

• Take some time to carefully evaluate the specific needs and wants of a home buyer and locate properties that fit those specifications.
• Assist the buyer in viewing properties and either accompany the client on the showings or preview the properties on behalf of the client to insure that the identified specifications are met.
• Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property.
• Present the offer to the seller’s agent on behalf of the client.
• Negotiate on behalf of the buyer to help obtain the property at the best possible price.
• Review and explain all legal documents to their clients.
• Recommend and assist in securing adequate financing.
• Provide a list of potential qualified vendors such as movers, attorneys, home inspectors, etc.
• Most importantly, when working with a buyer’s agent, the home buyer will know and trust that they are fully represented throughout the entire transaction process.

Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

#buyeragenttucson #1stheritagerealty #buyatucsonhome #knowyourstuff #lovemyrealtor

What it Means to Have a Balanced Real Estate Market

The Tucson Market is Balanced ~ What does that mean for you?

If you have to move you have to move.  Sometimes it doesn't matter what's happening in the housing market because you're moving because it's time.  Other times, the market can certainly determine what the possibilities are.  

When it is a Buyer's Market then it is usually a better time to buy because there are more homes on the market to choose from, prices tend to decline and sellers are more willing to pay concessions on the buyer's behalf. 

In a Seller's Market it is a good time to sell because there are fewer homes on the market.  This pushes up demand and prices.  Buyers tend to be less picky and it is no longer necessary to 'sweeten a deal' by paying for buyer's costs and extras.

Now let's get to the Balanced Market, the best time to buy AND sell.  For people who have been 'stuck' in their homes because of the inability to sell and cover what they paid, this market can be a chance to get out of the house.  A lot more homeowners who would like to sell, will find that they can get a fair price and then also be able to purchase their next home with the equity from the sale.  Because they are not underselling (like they might in a buyer's market) and they wont over pay on their purchase (as could happen in a seller's market) they will gain and lose equally on both sides.  The value is in the difference between what they sell and what they will buy.  That makes this an excellent time to up-size, down-size, or relocate to that part of town you've always wanted to live in.

#tucsonrealtor #lovemyagent #buyeragent #1stheritagerealty #realestatetips #localexpert