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"FOX Real
Estate....... We often receive questions that buyers and sellers ask us for additional information. We update this FAQ site often with new questions and answers. If the answer to your question is not found here, there's a short form at the bottom where you can ask a question and we will respond as soon as possible. Q. What about the Real Estate Bubble Bursting? A. According to economic indicators, it appears the housing market is
in for a leveling off - at best. Interest rates keep going up - they're unstoppable.
People in the know are getting ready. Real estate investors such as Toll Bros. sold $441 million of their
stock, Hovnanian sold $40 million of their stock. Even one the largest homebuilders in the U.S.,
Lennar Homes, is dumping their stock. Q. As a First Time Home Buyer, where do I start? A. Get your
credit report.
Once your finances are in order, check for Home Buyer Assistance programs to help with the down payment and closing cost. These are offered by the state, county and city, some have requirements and restrictions. Research and understand the loan process, the rates and terms. Check with a lender to determine how much the lender will loan you. Calculate monthly mortgage payment plus estimated monthly taxes plus monthly insurance and if any, monthly home owners association fees. Make a list (wish list) of amenities that you want and prepare a scorecard of homes to be viewed. View homes on this site or the MLS. Check with a local Realtor for properties that you want to view. Once you have viewed a few homes, you'll have a better understanding of the home buying process. (How much money = How much home) Q. I am interested in selling my home, why should I pick you as my listing agent? A. We offer the same options and services as any Realtor except we charge a low commission fee of 3.95%. This includes the buyers agent commission as well. We are a full service agency, licensed Real Estate Professionals and have an exclusive marketing plan that attracts approved home buyers. We advertise in local newspapers, San Ramon Valley Review magazine and we advertise on the internet on several websites that will be seen by thousands. We do all the paperwork and follow through on every detail and we assist you in how to stage your home for best results. We supply all the tools, for sale and open house signs, lock box, put your home on the MLS and colorful flyers. You will save thousands without having to pay a 5-6% commission. Q. How do I get the real scoop on homes I am looking at?
A. Home
inspections, seller disclosure requirements and the agent's
experience will help. Disclosure laws vary by state, but in some
states, the law requires the seller to complete a real estate
transfer disclosure statement. Here is a summary of the
things you could expect to see in a disclosure form:
Q.
What's the
difference between market value and appraised value?
Q.
What are the
standard ways of finding out what a house is valued at? Q. Is it important to have a home inspected? A. We always recommend home inspections. Each home has characteristics of its own, some may be considered to be problems to one buyer and not to another. Sellers are required to provide property disclosures for the buyer of their home, but there may be issues developing that they know nothing about. Inspections usually take about 2-3 hours of time, and are valuable not only from the aspect of diagnosing defects but also from the educational value you gain from learning about the home you wish to buy. It is also good to learn what maintenance needs to be done to keep problems from developing in the home. Inspections which are most frequently done include (but are certainly not limited to): general building inspection (covers structure, electrical, plumbing, and basic heating systems), septic systems, wells, radon (both air quality and water levels), pest, lead, water quality. A developing area of concern pertains to mold. There are inspections available for this, and you should consult your home inspector with questions and concern about mold. Q. How do I determine the type of home I should be looking for?A. Types Of Homes You Want To Buy
The least expensive house in an upscale neighborhood.
On a golf course. The views are great. Some people love it, some don't. A house at the end of the block or a cul-de-sac. You'll get less traffic. Backed up to land that is zoned residential, or a forest, or water. In a neighborhood that puts your kid in the best school. Reasonably close to fire departments and hospitals. Reasonably close to the grocery store or work. No traffic or logistics problems getting in and out of your street. High ceilings, large kitchen, walk in closets, office (higher resale value.) At least a 2 car garage, 3 is preferable if you can afford it. Has a paved brick driveway. Much nicer than standard blacktop. Newer home, upgraded appliances, higher efficiency A/C, good insulation. Has a nice pool in good condition. Make sure it's fenced in. Energy efficient home with the highest A/C SEER rating, insulation, etc. Homes To Avoid
Backed up to a shopping center or land that is zoned for business.
Backed up to a street with lots of traffic. You'll hear it at night. Houses that have any kind of flat roof, for example on a room addition. The biggest, most expensive house on the block. Next door to a renter. Renters treat the house and yard like crap. A house with chipped paint, or a damaged roof. Avoid any house that you did not have a home inspection firm review. In an area that puts your kid in a bad school, or far from their school. In a noisy area like an airport or other industrial area. In a high crime area, that you drive through would have to get home. In a neighborhood with high homeowners association maintenance fees. In an area prone to flooding when it rains. Visit the house when it's raining. A house with only one bathroom. It's very difficult to resell. Neighborhoods with no code enforcement: boats, commercial vans, etc. A house with no central air conditioning, or central heating. A house without a fireplace. On a steep hill. This can be a problem in icy winters in northern states. Overpriced "premium view" lots. If you can't get a decent price, don't buy. Only has a one car garage or a carport. These will be hard to sell. In a neighborhood where property values have not increased much. 2 bedroom, 2 bath homes are a lot harder to resell than 3 bedroom, 2 bath. You don't want a house with a tiny master bedroom or tiny closets. A weird architectural design that you'll have a hard time selling later. Anywhere within 2 miles of a landfill, or near a water treatment plant. Close to the beginning of the block. You'll get all the traffic. The house that gets headlights of all the cars turning onto the street at night. Corner lot near the entrance to your street. You'll get tracks in your lawn. On a street that's hard to get in and out of, i.e., long traffic light, or busy intersection, or a street that you have to drive past and make a U-turn. On a golf course. Expect broken windows. Some people love it, some don't. Q. What is a Seller's or Listing Agent? A. A seller's agent works solely on behalf of the seller and owes duties to the seller which include the utmost good faith, loyalty and fidelity. The agent will negotiate on behalf of and act as an advocate for the seller. The seller is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must disclose to potential buyers or tenants all adverse material facts about the property actually known by the broker. A separate written listing agreement is required which sets forth the duties and obligations of the parties. Q. What is a Buyer's Agent? A. A buyer's agent works solely on behalf of the buyer and owes duties to the buyer which include the utmost good faith, loyalty and fidelity. The agent will negotiate on behalf of and act as an advocate for the buyer. The buyer is legally responsible for the actions of the agent when the agent is acting within the scope of the agency. The agent must disclose to potential sellers all adverse material facts concerning the buyer's financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property. A separate written buyer listing agreement is required which set forth the duties and obligations of the parties. Q. What is a Dual Agent? A. A Dual agency or agent occurs when a real estate professional represents both the seller and the buyer. It can also occur when the Listing or Seller's Agent works for the same real estate firm as the Buyer's Agent. In most states, the buyer, the seller, and the Agent must agree in writing for the creation of dual agency. The Dual Agent is required to treat the buyer and seller honestly and impartially. In dual agency, the professional's duties are more limited and there is potential for conflict of interest. You may hear the terms "transaction broker" and "intermediary" in association with dual agency. Buyers beware! Q.
What is Title
Insurance? We don't know all the answers, but we can find them. If you got a question or comment, let us know.
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provide the following information:
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