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One of Westchester’s Premier Real Estate Teams Specializing in Westchester County, New York for over 20 years


Our Office – Ranked top in County in Listings

Cloud 9 homes, LLC In affiliation with Keller Williams NY Realty 120 Bloomingdale Road, Suite 101 White Plains, NY 10605


Introducing the Cloud 9 Homes Team with over 30 years experience!

“You’ll be on Cloud 9” Carolyn Schoemer, Lisa D’Annibale, Amy Sagastume Carolyn Schoemer – Licensed Associate Broker & Partner – ABR, CRS, GRI, E-PRO, SRES Lisa D’Annibale-Licensed Real Estate Salesperson, Buyer Specialist Amy Sagastume – Marketing Specialist & Administrative Assistant


The Home Buying Process Westchester County, NY Everything You Need to Know From A to Z


10 Great Reasons to Buy a Home 1. Improve Quality of Life

6. Leverage/ Financial investment

2. Pride of Home Ownership

7. Tax Deduction Advantages

3. Historically Low Interest Rates

8. Tax Exemption at Time of Sale

4. Appreciation Potential

9. Stop Renting & throwing $ away

5. Equity Buildup and Debt Pay-Down

10. Fix it the way you want it.


Renting vs. Owning Renting offers you no equity, no tax benefit, and no protection against regular rent increases. If you’re paying rent, you’re really just paying someone else’s mortgage. Let’s compare.*

Rent

vs.

Monthly Payment Insurance Taxes

$1,000 $ 30 $ 0

Total Payment

$1,030

Interest Deduction Tax Deduction

$ $

0 0

Net Monthly Payment

$1,030

Own Monthly Payment Insurance Taxes MIP Insurance Total Payment

$ 855 $ 50 $ 260 $ 45 $1,210

Savings Interest Deduction $ 175 Tax Deduction $ 75 After Tax Net Monthly $ 960 Payment *Based on $125,000 mortgage at 7%


The local Market Rates continue to stay around 4-6% • It is a Buyer’s market vs. a Seller’s Market so your timing is IDEAL – Congrats!


It’s Called a Buyer’s Market for a Reason

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WHAT ARE YOU WAITING FOR? IT'S TIME TO GET SERIO US ABOUT BUYINGBEFORE AN INEVITABLE RISE IN INTEREST RATES WIPES OUT YOUR ADVANTAGE. QuickTimeª and a Graphics decompressor are needed to see this picture.

• YOU CAN’T TIME THE MARKET PERFECTLY! • If you think all there is to do is wait for prices to drop some more, think again….a 1% increase in interest rates tends to cancel out the advantage of a price drop of approximately 10%.

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Interest rates have increased by 0.6 percentage points in five weeks...the fastest increase in two decades. January 24, 2008: 5.48% February 21, 2008: 6.04% LetÕ s look at the effect of interest rate hikes and home price declines and how the y mi ght affect your finances.

SCENARIO 1 : Home prices decrease by 5% Int erest rates increase by 0.5%

SCENARIO 2 : Home prices decrease by 1.0% Int erest rates increase by 1.0%

TODAY

SCENARIO 1

SCENARIO 2

Home Price: $650,000

Home Price: $617,500

Home Price: $585,000

Int erest Rates:

Int erest Rates:

6.04%

+0.5% | 6. 54%

+1.0% | 7. 04%

Int erest Rates:

Home Price: $3,895

Home Price: $3,898

Home Price: $3,886

I TÕ S CAL L E D A BU YE R Õ S MAR K E T F O R A R E A S O N


19 Years of National Market Shifts Months

Million

Housing Inventory (left axis)

12

7

10.2 10

Sellers Market

Buyers Market

8

6

4

4.4

6 5 4 3

Existing Home Sales – Single Family Homes (right axis)

2

2

1

0

0 2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

1994

1993

1992

1991

1990

1989

Source: NAR


Mortgage Rates Fixed Rate - 30 Year 1971-2007 – NOW EVEN LOWER! 20% 16% 12% 6.4%

8% 4% 0%

2007

2005

2003

2001

1999

1997

1995

1993

1991

1989

1987

1985

1983

1981

1979

1977

1975

1973

1971

Source:Freddie FreddieMac Mac Source:


We will help with a PreApproval

• Find out what price range you can buy • Receive Good Faith Estimate for closing costs from the lender • Increases your negotiating power when you find the home you want


Multiple Listing Service • Know about homes first before they hit the major sites online or in print • Instant Notification Program via email – We will ensure that you know about the homes that match your criteria as soon as they are available


COOL TOOL! “LISTING BOOK” • Great new tool to search the MLS like a broker does • Will send you a “morning report” with new listings and changes to listings • You can update your own criteria – like & must haves • You can save and reject properties and make notes in your notebook • You can see properties SOLD & in CONTRACT


Market Conditions • Once you find a home you like, we can show you the market conditions for that community, such as: – Average sale price – Average days on the market – What similar homes have sold for


OPEN HOUSES You can search for them on my website Cloud9homes.com but please tell them I sent you so there is no misunderstanding


For Sale By Owners • Tell us if you see a house you are interested in and we will make the call and show it to you • Many times they are overpriced and were previously on the market with an agent • We can represent you


Buying New Construction?? • It’s fun to shop, but it may cost you your right to be represented by your own agent – Many subdivisions will have you register – Keep in mind that on site agents work for the developer or builder…not you • Use our name when you register • Contact us to get you more information about the subdivision


GUESS WHAT? In looking for Your Next Home • Don’t be surprised if the first homes you see are the best! • Go with your gut feeling • “Buyer’s remorse” can happen


The Contract • If you find the right home today, do you have an attorney and are you ready to sign a contract? • Make your best offer first, often lower offers can turn off the owner


Down Payment Money • Standard earnest money in this area is a 10% (personal check) when you sign a contract • Do you have it available now?


Inspections • We recommend you get an inspection • General inspections include termite, radon, and standard engineer’s report • Buyer pays for the inspection ($450-850) • Takes place 1-3 days after the Offer is Accepted


The Appraisal • An Appraiser is sent by bank soon after signed contract and mortgage application • Appraiser takes photos and measures the property • They focus on comparable properties SOLD in the last 4-6 months


The Closing • 1-2 days before closing we will conduct a final walk-through of the property • You will need to plan about 2-3 hours for the closing • Bring your Drivers License for photo ID • Required funds for closing must be certified funds


TIMING • HOW LONG DOES IT TAKE TO BUY A HOME?

• • • •

1-2 weeks to negotiate and do an inspection 3 days - 1 week to sign the contract 1 month to get a loan 2-3 months to close depending on the seller and if they have a place to go, have moved out or have to find a home. • GRAND TOTAL 2 – 6 MONTHS


Reaching Your Goal • We want you to be happy in your new home • Fulfill the American dream of Home Ownership – 68% of Americans own their own home!


Questions Your Broker Won’t Answer • What kind of people live in this neighborhood? • What is the predominant race, religion, ethnicity of the neighborhood • Is this a good school district • Where Sex Offenders live • Where there are “group” homes


USE MY WEB SITE FOR RESOURCE CENTER – www.CLOUD9HOMES.COM


10 Commandments Thou shalt not change jobs, become self-employed or quit your job. Thou shalt not buy a car, truck or van (or you may be living in it)! Thou shalt not use charge cards excessively or let your accounts fall behind. Thou shalt not spend money you have set aside for closing. Thou shalt not omit debts or liabilities from your loan application. Thou shalt not buy furniture. Thou shalt not originate any inquiries into your credit. Thou shalt not make large deposits into you’re a/c without first checking with your loan officer. Thou shalt not change bank accounts. Thou shalt not co-sign a loan for anyone.


How Will You Be Represented • You have the right to have an agent working in your best interest as a BUYER’S AGENT • If you are committed to us, we likewise promise to be committed to you • We will advise you throughout the transaction


As a Buyer’s Agent Just some of the advantages….. • • • • • • • • • • • •

Professional representation Experienced negotiator Advice, counseling and your advocate Due diligence – will do the leg work to save you time and hassle Broker previews – will preview homes for you to save you time Assistance with pricing knowledge & strategy Help you structure offers that work to your favor Assistance with ancillary services & reputable local service providers As a “client”, you have priority of my time Valuable resources on local community information Always available for your needs throughout the process A smooth process along the way!


A seller’s agent is an agent who is engaged by a seller to represent the seller’s best interests. A seller’s agent has the following fiduciary duties to the seller: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A seller’s agent does NOT represent the interests of the buyer.


A buyer's agent is an agent who is engaged by a buyer to represent the buyer's interests. The buyer's agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer's agent has the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer's agent does NOT represent the interests of the seller.


DUAL AGENCY with DESIGNATED SALES AGENTS

If the buyer and the seller provide their consent, the real estate broker who represents both parties as a dual agent may designate a sales agent to represent the buyer and another sales agent to represent the seller, With the informed consent of the buyer and the seller in writing, the designated sales agent for the buyer will function as the buyer's agent representing the interests of and advocating on behalf of the buyer and the designated sales agent for the seller will function as the seller's agent representing the interests of and advocating on behalf of the seller in the negotiations between the buyer and seller.


DUAL AGENCY A real estate broker may represent both the buyer and the seller if both the buyer and seller give their informed consent in writing. In such a dual agency situation, the agent will not be able to provide the full range of fiduciary duties to the buyer and seller. An agent acting as a dual agent must explain carefully to both the buyer and seller that the agent is acting for the other party as well. The agent should also explain the possible effects of dual representation, including that by consenting to the dual agency relationship the buyer and seller are giving up their right to undivided loyalty.


YOUR WISH LIST • WE will go over your WISH LIST • Please tell us about you – your taste - likes and dislikes, your goals, anything that you think will help us find you your dream home!


Paperwork • NY state agency Disclosure form– we represent YOU, the buyer • Seller Disclosure Law $500 credit • Exclusive Buyer Right to Represent Form • Lead Paint Form – see booklet


Referrals • Our main goal in this relationship is to make you happy…we want you to tell others about us • We hope you will RECOMMEND us to your family, friends and business associates. We can refer to other agents anywhere around the world!


J.D. Powers & Associates Ranked Keller Williams #1!          

"Highest Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row!"


Buyer Presentation