Friday, September 26, 2008

An Empowering Relationship!

Sports agent. Talent agent. Insurance agent. Real estate agent. What significance does the label "agent" hold, and why is it important when buying or selling a home?

Webster's dictionary defines an agent as "a person, firm, etc. empowered to act for another." For an "agency" relationship to exist, there must be a "principal" and an "agent." The principal is the person who empowers another to act as his representative, while the agent is the person empowered to act.

In real estate, an agency relationship is created when a seller signs a "listing agreement." The seller gives the broker authority to act on his behalf to locate a purchaser. The agent must be loyal to his principal, exercise competence, and when negotiating a sale, the agent must protect the principal's financial interests. The agent must also treat all third parties honestly and fairly.

It is also possible for an agency relationship to exist between a buyer and a broker. When this occurs, the broker's fiduciary loyalty is to the buyer, and all sellers must be treated honestly and fairly. In that case, the agent attempts to secure the lowest price and most favorable terms for the buyer, his principal.

Whether buying or selling, it is critical to understand which parties make up the agency relationships. If in doubt, ask the real estate agent for a clarification.

Friday, September 19, 2008

No "Chicken Little"

If you're a homeowner, what do falling prices mean to you? You might assume that it's a bad time to sell. But guess what? It could mean it’s the perfect time to buy the home of your dreams!

Do the math, and you see that market downturns can actually work in your favor. Homes are listing at prices that are truly affordable. If you’ve already built equity in your current home, you could parlay that into the purchase of a terrific property.

When prices do rise again, and you know they will, you will have made an excellent investment for the future. If the home you really want was previously offered at $500,000 but the price has fallen - let's say 20% to $400,000 – that’s a sweet deal, even if your own home has lost some value.

In any home purchase, there are usually some concessions: location, style of architecture, or any number of features. If you made some concessions when you bought your current property, and you can replace the negatives with the positive features you’ve found in another home, now is the time to make your move!

Once the market turns around - and again, you know it will - you'll find your appreciation will be greater in the new, larger home. It's an upgrade at an opportune time that makes good investment sense.

Friday, September 12, 2008

The Long and Short of It

You've been reading negative stories about the housing market, and while some are experiencing a slowdown, it's still no reason to keep you from pursuing the American Dream.

Anyone who's watched the industry for the last thirty years will tell you that it's a natural cycle, much like the adjustments the stock market experiences. All's well that ends well after a period of time passes.

Remember that housing is a long-term investment. Some people tried to create high yields over the short term, and that’s part of the reason so many markets are experiencing readjustments now.

Regardless of whether housing is up or down, individuals and families will always have a need to buy or sell. Home sales last year actually surpassed those of five years ago, which was another record year. Interest rates and prices are at historical lows, creating an excellent atmosphere for qualified buyers.

When reading the gloom and doom about foreclosures, it's important to keep the reports in perspective. Most defaults are associated with sub-prime loans, which account for less than 10% of all mortgages. Of those, only 0.6% are currently in foreclosure.

Now is the time to turn to the advice and guidance of a trusted local real estate professional, whether you're buying or selling. Keep a level head and take advantage of positive forces in the current housing market.

CBTR Student Design Center






SCAD Students & Parents are welcomed to stop by the cbtr student design center located at 616 Barnard Street
Friday, Sept. 12th - Sunday, Sept. 14th from 10am - 4pm

Tuesday, September 9, 2008

Beaufort, SC Best Place to Retire by the Water





CNNMoney.com announced that Beaufort, SC is one of the top six places to retire by the water!! To read the full article click here.














Find your dream home in Beaufort, SC http://www.corabettthomas.com/beaufort.html