Certify That Pre-Owned Home!

If you're looking for a competitive edge in the sale of your home, your real estate agent may have an unexpected suggestion. Although many sellers assume that it is the responsibility of the buyers to pay for an inspection, having one performed before you even list your home can go a long way towards attracting a full price offer from confident buyers.

Think about it. If you're aware of flaws and needed repairs before you begin marketing your home, you can correct potential problems before the buyers even have a chance to think about negotiating a lower price for repairs. Sellers can expect an offer that is two dollars less for every dollar in needed improvements, so why would you give away that money when you can save it by simply investing in a pre-listing inspection?

A pre-listing inspection also reduces time and stress before closing, because there's no rushing around trying to get requested repairs done on the buyer's schedule. You're also establishing good will right off the bat, creating an atmosphere of trust and honesty up front.

All of these aspects greatly increase the chances that the buyers will offer full price and follow through to closing without any doubts, delays or picky negotiations. Like a quality used car, giving your home the "Certified Pre-Owned" label will encourage the buyer's seal of approval!

Turning Rent Into Equity!

Larger home inventories coupled with tougher financing requirements have made it difficult for both sellers and buyers to achieve their respective goals. In the search for creative solutions, one has recently begun catching on - Rent To Own.

The advantage for buyers is that a portion of your rent payment is put into an escrow account to be used eventually for downpayment on a traditional loan. You can begin building equity before you've even applied for financing! If your credit is less than perfect or you simply haven't the funds available for a significant downpayment, this could be a great opportunity.

Sellers also benefit from receiving income from the tenants and the likelihood that they will eventually purchase the home outright. However, caution must be exercised, and you can protect yourself by seeking the advice and services of a real estate agent. Many agents can even manage the property for you.

Consider who will maintain the property and what percentage of the rent will go towards the downpayment. What will happen if one party wants to back out of the deal or if the renters don't eventually qualify for financing?

These are just a handful of the questions and concerns associated with this otherwise mutually beneficial arrangement. If you're facing challenges as a buyer or seller, consult with an agent today to discuss the possibilities.

OPEN HOUSE | Saturday & Sunday | June 14 & 15

OPEN HOUSE Saturday, June 14

105 Coach House Square 1 - 3 PM
Pooler Morgan Pines
$199,5000


OPEN HOUSE Sunday, June 15

411 East Huntingdon Street 2 - 4 PM
Historic District
$439,000

424 East 31st Street 3 - 5 PM
Historic District
$349,000

404 East 51st Street 2-4 PM
Ardsley Park
$269,000

Before It's Too Late!

Foreclosure is forcing the sale of many homes, putting homeowners in a very stressful and challenging position. While most people think of real estate agents as mediators between buyers and sellers, realty professionals also work with lenders, who are likewise facing challenges.

Financial giant Freddie Mac commissioned a survey, finding that 58 percent of homeowners who are delinquent in their payments didn't know that lenders offer many ways to help. They also didn't realize that free counseling is available for those facing default.

For instance, did you know that a missed payment could be added to your loan balance? Or that you can extend the term of your mortgage? It will take longer to pay off, but it keeps you in your home.

That's another frequently misunderstood point. Banks really don't want to take your home back - they want YOU to keep it and pay for its maintenance and property taxes and so on. Banks are in the business of lending (and making) money, not in maintaining real estate.

While help offered by lenders and assistance organizations can save four out of five homes from foreclosure, the sad fact is that most homeowners simply don't find that help until it's too late.

Please, protect your investment and your community's property values by availing yourself of the assistance that's freely available. Don't wait another moment.

Cora Bett Thomas Keynote Speaker at the Savannah Downtown Business Association

Cora Bett Thomas recently spoke at the Savannah Downtown Business Association’s Leadership Luncheon Series at the First City Club on May 14, 2008.Thomas spoke to the group about the growth and vision of real estate in, “Downtown Savannah: Looking Forward…Forward Looking.” She also spoke about her success and personal experiences she has had starting a small business in Savannah.Attendance at the leadership luncheon was near an all time high to hear Thomas speak. The group was particularly interested because Thomas represents everything that is the Savannah Downtown Business Association. Cora Bett Thomas built her company to promote quality and it has prospered in the unique environment that is Downtown Savannah.

Savannah named in "Top 100 Places to Live"

RelocateAmerica.com has named Savannah one of America's "Top 100 Places to Live"

Plenty of Fish in the Sea!

While many areas around the country are experiencing a "buyer's market," you need to exercise caution when offering to purchase at below asking price. Bargaining is indeed an art, and the last thing you want to do is to insult the sellers.

An unreasonably low offer risks angering the sellers to the point where they won't even make a counter-offer. In general, an offer more than 10% below asking price is not customary and faces possible rejection, but there are ways to proceed with respect when you feel that a lower offer is substantiated.

Sit down with your representative and make a list of reasons to share with the seller about why your offer is less than asking price; or, strongly consider negotiating other terms of the purchase, such as closing costs or repairs. A reduction on those aspects can still yield great savings.

Whenever you are in the presence of the sellers, kindly exhibit proper etiquette and respect. Consult with your representative before any meeting to make sure you're both on the same page.

Ultimately, the best way to make your offer with confidence is to realize that there are many attractive homes for sale in your price range. If a seller rejects your offer outright, avail yourself of the other suitable properties on the well-prepared list of possibilities provided by your representative.