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A product of The Norman Transcript • 2.8.2014
Saturday, Feb. 8, 2014 NORTHWEST
OPEN houses
3000 LOCHINVER
SOUTHEAST
OPEN SAT 10-5; SUN-WED 1-5
WESTPOINT HOMES’ SHOWCASE HOME IS A MUST SEE! As your walk thru this open design and see the colors you will have a warm, at home feel. This 3 bedroom, 2 ½ bath home has special features such as a study with beautiful bookshelves and wood flooring, a mudroom, decorative tile work and so much more. WESTPOINT HOMES todd@westpoint-homes.com 641-0447
3103 TARA LANE
4503 GREEN FIELD
OPEN SUNDAY 2-4
GREAT BROOKHAVEN HOME on oversized end of cul-de-sac lot. Granite in kitchen, stainless steel appliances, huge master w/fabulous bathroom, large spare bedrooms, 2 fireplaces, new windows ‘08, new roof ‘09, sprinkler front and back, wood floors, tons of storage, plenty of room for pool with lots of privacy. $375,000. Hosted by Tray Holley @ 822-6060. #269392 DON CIES REAL ESTATE WWW.DONCIES.COM 329-0256
prospective
CALL ME TODAY!
buyers with Norman Angela Williams Homes’ 405-366-3556 “Open awilliams@normantranscript.com Houses”
OPEN MON-FRI 12-6
Hwy 9 east to 12th Ave SE, south to Cobblestone Creek Dr, north to Spyglass.
THIS WONDERFUL HOME IS IN THE WORKS. Another quality home by Skyridge. Still time to choose your own fixture, interior finishes, colors and flooring. Plus has entertainment room on second floor. $239,000 Call Mahnaz Partou @ 979-7462 #259455 DON CIES REAL ESTATE WWW.DONCIES.COM 329-0256
SOUTHWEST 512 WINSTON
641-0447
(I-35 & Robinson, west to Broad Acres, north to Green Field Circle.)
Reach over 35,000
4313 SPYGLASS
OPEN SUN 2-4
3 BEDROOM 2.5 BATH HOME! Study, bonus room, 3 car garage, large backyard, $333,600 WESTPOINT HOMES todd@westpoint-homes.com
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OPEN SUN 1-3
Robinson west to 48th, south to Rhoades, west on Rhoades to Winston, north to property.
CAMBRIDGE ADDITION. 3 bedroom, 2 bath, 2 car garage in Truman school district. Owner has replaced builtin appliances including gas stove. Central heat and air just replaced, Dual Fuel Heat Pump. Flooring has been updated, Roof 2 1/2 years old. Formal dining makes great study. Master has separate tub and shower. Lots of light with large windows. New storm shelter and Home Warranty paid until August 2014. $175,000 Hosted by Judy Moss 405-397-5444 WEICHERT REALTORS CENTENNIAL
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Saturday, Feb. 8, 2014
Saturday, Feb. 8, 2014
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BEGIN THE NEW YEAR IN A NEW HOME. After the economic downturn that began around 2008, the housing markets is showing strong signs of recovery. Those in the market to buy and sell may find this year presents an ideal opportunity to do just that. According to the real estate listing website Zillow, home values rose 5.1 percent across the United States between February 2012 and February 2013. Buyers will need to be prepared to purchase inventory right away, while sellers will need to price their homes right for the best chance of sale. The following are some guidelines.
BUYERS Having a plan is essential when buying a home, as such a purchase is not something buyers should take lightly. Establishing a budget is the first step. This means taking inventory of savings, expenses and borrowing power. It is advisable to sit down with a lender and do a run-through of what you can afford. By providing key financial information, including earning statements, existing debt and credit history, buyers can quickly learn how much they're qualified to borrow and how much they are comfortable borrowing. This helps buyers zero in on homes in their price range. Being preapproved for a mortgage is
advantageous when it comes time to make offers on properties. It shows sellers that buyers are serious and that they have been vetted by the bank. Many buyers conduct a lot of research online prior to stepping into a home. This research lasts an average of six to eight weeks, according to the National Association of Realtors. Homework includes investigating neighborhoods and school systems, comparing the going rates of homes in the area, as well as figuring out which features are desired in a home. It also is important to hire a buyer's agent. Such professionals send buyers listings that fit their home-search parameters, which saves buyers a
lot of time and effort. Some agents preview homes for their buyers, even going so far as to identify overpriced listings that can be avoided or finding sellers who are willing to negotiate. A buyer's agent works for the buyer, meaning there will be no conflict of interest. Agents assist buyers in the negotiating process, using their knowledge of the real estate market to help buyers make realistic offers that are likely to be accepted while providing a wealth of information about housing trends, area services and home improvement vendors. When sellers accept buyers' offers, buyers must then arrange home inspections. An inspection is oftentimes included as a contract contingency,
and buyers have a right to cancel contracts if inspections find that a home is unsatisfactory structurally. SELLERS Sellers competing for business in a thriving housing market also have to do their share of work. It is unlikely sellers will be able to list their homes for sale one day and have dozens of offers the next. Today's buyers are much more conservative, and homes will have to be presented in the best light and listed at reasonable prices. Sellers can start the process of selling their homes by researching recently sold homes in their
neighborhoods, paying particular attention to final sales prices. This information may be available through tax records, and some real estate sites publish the data online. Sellers can then compare this information to what they still owe on their mortgages if their homes are not paid off, and this should give sellers an idea of their potential profits. Sellers also can benefit from working with real estate agents, as it can be quite difficult and stressful for homeowners to sell their homes on their own. Agents have access to multiple listing databases and industry contacts, information that is quite valuable when selling a home. Agent will do their own assessments of a home to help sellers
price the home accordingly based on market conditions. In addition, real estate agents can inform sellers about which, if any, repairs or changes may need to be made to make a home more attractive to prospective buyers. Real estate agents also help sellers through the negotiating process, finding a balance between what the buyer wants to pay and how much the seller wants for the home. Housing markets are once again looking up. As the new year arrives, many people may find now is the time find their next homes. Understanding the process and getting guidance from real estate professionals makes the process of buying and selling a home that much easier.
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Saturday, Feb. 8, 2014
HOW TO PREPARE YOUR HOME FOR A QUICK SALE Here are some tips from local real estate agents who consistently outperform the market: DE-CLUTTER AND DE-PERSONALIZE YOUR HOME: Look at your home through the eyes of a prospective buyer. Would you be interested in seeing somebody's wedding photos and kid's baseball picture? Or would you like to see how the space can be used and picture your belongings in the home? Removing the clutter opens up spaces such as countertops and shelving and lets the buyer use their imagination. Be strategic with your furniture. Pieces in corners tend to make rooms feel smaller. HAVE YOUR HOME READY BEFORE PLACING IT ON THE MARKET: Walk the home with your agent prior to listing it on the market and make a punch list of things to be done before it hits the MLS. Research shows the activity of a house spikes when it is first listed, so it needs to be ready for that initial surge. If the home is not ready, most of those buyers will not be back to view it when it finally is. That's why it is essential to put your best foot forward from the get go. Remember, first impressions are typically lasting ones. HAVE YOUR HOME INSPECTED BEFORE PLACING IT ON THE MARKET: Pre-inspections are becoming more and more popular with today's sellers. For a fee of around $300-$500, a licensed inspector will evaluate your home's major systems (electrical, plumbing, heating, cooling, roof, etc). By having this prior knowledge, sellers have the chance to make repairs or modifications on their own terms and can alleviate any issues that may come up during a buyers inspection. Nobody's home is perfect, yet sellers are often blindsided by demands for costly repairs they didn't anticipate on systems they have never had issues with. On the positive side, if systems show up as being in good working order after a pre-inspection, sellers can use this information as a marketing tool.. PRICE YOUR HOME TO SELL: No matter what steps and precautions you take when selling your home, if it is overpriced it will not sell! Partner with your agent as much as possible when determining the price of your home and be realistic when setting the sales price. Sellers who actively participate in researching comps usually have better luck in moving their homes. An agent can show them how they come up with a price based off of prior sales and active listings and by being involved, sellers get a better feel for the marketplace. Ask to meet with your agent at his/her office so you can view history on the MLS with them. Overpricing on purpose and then counting on settling for the "real" price is setting yourself up for failure.
Saturday, Feb. 8, 2014
FIRST-TIME HOMEBUYER TIPS FIND A GREAT INSPECTOR Every home someone purchases — even one that’s brand new — ought to be inspected by a qualified,
to know up front. Buyers need to be aware of these things before making their final decision.
T U O
experienced home inspector.
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REAL ESTATE GLOSSARY Amortization Schedule A table that shows how your loan balance changes over the life of your mortgage. If you want to know what you’ll owe on the home after 10 years of making payments, the amortization schedule will show you.
A good inspection will let you
The best inspectors are extremely thorough. They’ll find every little
know exactly what to expect down the road. It’s money well spent.
problem with the home, which is vital
e s u o h of the
Escrow An account that can be used to pay property taxes and insurance premiums.
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