You want to hire an agent to buy a home... now what?

After researching the Internet, talking to agents, visiting open houses, talking to lenders you have finally decided you want your own representation when purchasing a home. So now what?

First thing is you should really hire an agent before you visit any open houses or new home sites. This will save potential procuring cause issues later. Understanding why you should have your own agent and representation is important. The main reason is the listing agent represents the seller as her client. If you decide to buy that home you are just a customer not a client. Her clients interest come first.

How to choose one is based on what you read and want to believe. Does the agent have to have a designation such as ABR®? No. I've been in this industry for almost 10 years and can represent a buyer just as good as an agent with a ABR®. In fact, that ABR designation is a 2-day class and any buyer agent can get it.

Choose your agent based on what the agent has to offer. It should be more than emailing you homes. They should really listen and learn about what you are looking for in your home. They should know the areas well or give you resources.
There are a ton of agents in our area. They should also be full time. Not that a part time agent can't be good, but real estate is a career, not a hobby. Laws, rules, and contracts change all the time. You want an agent that is on top of everything and not having to research at the last minute.

So be a little picky when picking an agent to represent you in purchasing a home. In most cases the agent will make or break how good your home buying experience was.

Windsor, VA

To some, Windsor VA may seem out of the way. Speaking to the people who live in Windsor you will hear a different story. Located off Route 460, Windsor is tucked away but close to everything. Pricing for homes are a lot lower than surrounding 'main stream' areas such as Suffolk, Chesapeake, and Virginia Beach. The home located at 25098 Old Mill Rd West is listed at $150,000. The large yard and desireable floor plan makes it perfect for first time home buyers. Click to see full details: 25098 Old Mill Road West


You can also read more about Windsor,VA here

Current listings

Selling your first home

As a first time buyer, you were nervous and excited.  If you had a great agent the frustration level should have been low. You will have the same feeling selling your first home.  There is a lot to consider when selling your home.

Keep in mind it always costs more to sell a home than to buy a home. If you purchased a home in the last few years, you most likely got closing costs assistance, 100% financing if you were a first time buyer, and a potential $8000 credit.
When you are a seller, you are on the opposite side and will be offering those things to potential buyers.  Every buyer (or almost every buyer) is receiving some closing cost assistance.  The average I am seeing on contracts is 3-4% of the sales price.  The main reason for this is loan guidelines have changed.  If someone is not a first time  home buyer, they will most likely have to put down a 3.5% down payment (FHA loans).

The next thing to consider is to hire an experienced full time Realtor® like myself.  I specialize in internet marketing,  short sales, and pricing the home to sell.  The days of 'feeling out the market' and pricing the home high are over.  If you don't price right from the start, you won't get any showings.  There are several ways to price the home.  I base my suggested price on what homes have closed in the area in the last 3 months.  The reason for this is an appraiser is going to use sold homes, not active or pending.

If you are considering selling your first home, give me a call.  I'll stop by and go over the process, make suggestions on the interior and give you a suggested sales price.  It doesn't have to be complicated or frustrating if you use an experienced and personable Realtor®.

Hampton Roads schools make Americas Best List!

Newsweek published the Americas Best High School list. (Click to see entire article).  Locally,  it came as a great suprise to me that the school I graduated from ranked 122. Higher than any other school in the area.  When it comes to real estate in Virginia Beach, schools play a big part of the criteria.  The schools that are normally asked for fell way below Princess Anne High School.
Here are the rankings

Virginia Beach
#122 Princess Anne High School
#659 Cox High School
#853 Ocean Lakes High School
#1123 Kellam High School
#1132 First Colonial High School
#1344 Bayside High School
#1355 Landstown High School and Technology Academy
#1408 Kempsville High School

Hampton


#845 Hampton High School


Newport News

#412 Warwick High School

#880 Menchville High School

Norfolk

#529 Granby High School

York County

#270 York High School

#491 Bruton High School

#651 Tabb High School

#877 Grafton High School

Should I buy?

Should I buy or just keep renting?  This question comes up on amost every real estate web site, buyer class and just in every day conversation with buyers.  The answer really depends on why you are buying.  If you are looking to purchase a home look at your debt and monthly finances.  Yes, the rates are incredible right now and you could possibly own a home for the same amount as you are paying in rent. Depending on what you are looking for, it may be less than rent.

The average 1 bedroom apartment in Chesapeake runs about $1000-1500 depending on location, amenities and how new the complex is.  Look in Virginia Beach and it may be about the same or even higher the closer you get to the ocean front.

What's the big deal about interest rates?  If you talk to anyone who has been in the real estate industry for quite awhile, you will quickly see why interest rates are a huge deal.  Buyers are taking advantage of rates below 5% in some cases.  Interest rates can not stay low forever as some buyers are thinking.  As they start to creep up so do the monthly payments for the same house.  Inventory starts to shrink because buyers will rush to buy to save on their interest rate. 

I hate to sound like a broken record, but the best time to buy really is now.  The rates are driving more and more buyers to lock in their new home with a payment equal to or less than renting.  As a first time home buyer there are many programs you may qualify for to help with your down payment (depending on the property).  Military home buyers can also qualify for special programs. 

Take a moment and use the financial tools on my website.  You can see some of the most common questions, put in your montly income and debt and see the results.  There is also a Rent vs Buy calculator to help you decide.

Still debating?  Send me an email or call me at 757-773-5456.  I'm here to answer your questions and give you as much information as possible so you can decide if buying a home now is the right decision (or not) for you. You can also search all the homes for sale in Hampton Roads by clicking here.

Chesapeake VA and Suffolk VA make the top 100 places to live!

From Cnn Money-
Money Magazine has posted their Top 100 places to live list.  Making that list is Chesapeake (85) and Suffolk, VA (91).   You can read the full articles below on the two cities. 

Chesapeake, VA:
 http://money.cnn.com/magazines/moneymag/bplive/2010/snapshots/PL5116000.html

Suffolk, VA:
http://money.cnn.com/magazines/moneymag/bplive/2010/snapshots/PL5176432.html

Both of these cities have great inventory.  Taxes vary, but overall people chose to live in these cities because they seem less congested than Virginia Beach, VA.  Be sure to email me if you want the most updated market report for either of these cities.