First time homebuyers often experience blunders when looking for their first home to purchase. To avoid such a frightful experience, which could lead to a loss of time, effort and even worse your money; here are a few common mistakes and how to avoid them.

Lack of research

When buying your home, go back to the basics: research before proceeding with any kind of purchase. Research is basically asking questions about the house or the property. Examples include:

• Reasons for putting the property on sale
• Any problems about the house’s foundation that needs to be addressed.
• If there are any problems in the area where the house and property is located like being near a flood zone, termite problems, etc.

Too much waiting

There is nothing wrong with waiting for the right house but a homebuyer should be realistic. It is difficult to find a home that fits 100% of your demands. Homebuyers who are looking for homes with this method can easily by-pass homes that would meet nearly all your standards. To avoid this, it is important to sort out priorities. Identify your top needs, followed by B and C list requests.

Without any professional assistance

Another mistake that most homebuyers make is that they think can get a house on their own. There is nothing wrong with buying a house without any professional help. It is just that it could be very stressful and would take a great deal of your time. Real-estate agents have the resources, contacts, and tools that would make the search quicker.

Rent to Own stores have built an empire with rent to own merchandise, however the buyer normally ends up paying double what the merchandise is actually worth. While this may be a great option for those who have bad credit, most of us would prefer to avoid this route. Homes are no exception, especially if you are buying a home on a rent to own basis.

Even though rent to own may be good for a short period of time, it proves to be an expensive way for someone to buy something they intend to keep. The agreement is normally for around 15 - 20 months, which is where the company makes their money. Although you may be paying just a few dollars a week, the total amount quickly adds up to nearly twice the cost of the item.

In most cases, rent to own houses are put up on the market by the owner. This way, you’ll deal directly with the owner. It will start out as a traditional lease, then proceed to a rent to own basis if you decide you want to keep the home. You and the owner will then work out an arrangement, which will normally be quite a few years. Some owners are very flexible and will work with you just to get the price they want for their home, while others will charge you quite a bit more, in order to make a hefty profit.

If you have bad credit and can’t get approved for a mortgage, then rent to own would be your next best option. With rent to own houses you are paying money towards the home, instead of just paying rent. In some cases this is fine, although you should make sure to double check with the owner before you agree or commit to anything. This way, you’ll know how much you’ll be paying for the home - and for how long.

There are millions of people looking to a buy home - either now or in the future. Over the last few years, lower interest rates have come along, making it more affordable than ever to buy a home. When most people stop and give it some thought - buying a home makes a lot more sense than renting a home or an apartment.

The two biggest expenses you will encounter are closing costs and a down payment. Your down payment will typically range anywhere from 3-15% of the price or the value of the property.It is a good idea to have 20% to put down. If you aren’t able to put 20% down, you will need to buy private mortgage insurance, which will cost you more in terms of your monthly payment.

Closing costs will cost you around 5-7% of the property price. Before you purchase the home, you should always get an estimate.

When you buy a home and get your monthly mortgage payment, it should not be any more than 25% of your total monthly income.

Keep in mind that there is always more money involved with a home other than the mortgage payment. You will also have to pay for utilities, homeowners insurance, property taxes, and repairs/maintenance.

Before you begin the home searching process, you should always look over your credit report and check for any errors. If you have an error on your credit report, it can cost you a lot of money in interest rates. Rebuilding credit can take time though, sometimes even years. You should always plan ahead - and give yourself plenty of time to fix your credit.

Buying a home will require a bit of commitment on your behalf. You should always strive to get the best possible deals, which means knowing your credit and where you stand.If you can help it, you don’t want to buy a home with bad credit, simply because you’ll pay a lot more money for the home. If you take the time to fix any credit problems and save up some money - you’ll be able to get a much better home for your money.

It is very important that you find a realtor who will listen to your needs and wishes and act accordingly. The right realtor for your needs can mean all the difference in the world between a successful and easy transaction. Below are some important points to notice when selecting a realtor that will meet your needs.

• Does the real estate agent listen to your needs? This is important as it will save you both a lot of time and money in the process of finding the perfect.
• Does he or she ask questions and provide appropriate feedback? This indicates a direct interest in your needs.
• Are you comfortable with the real estate agent you are considering? There are many realtors in most cities and there is no reason that you should deal with an agent that doesn't make you feel comfortable and secure.
• How well do they know the area in which you are seeking a home? You want a realtor that has their finger on the pulse of the city and the various areas of interest, growth, and decline within the city.
• Do they have an online presence- A website, blog, social media sites-Is there a way for you to learn more about them and their current and past transactions. This can give you a good guide for what to expect.

If you invest a little bit of time and energy shopping around for the right realtor to meet your needs, you will find that your real estate transactions will take much less time and effort for this small sacrifice. It is much better to make the decision based on a few careful interviews in the beginning than after looking at fifty or more homes that do not meet your needs or price range.

Janus Real Estate Group *    Heather Anderson *    972-765-3773

When it comes to buying a home, most potential buyers will use the listing price as the number one factor to determine the homes that they look at.  Even though you and a realtor may determine the asking price, the buyer will determine the selling price.  If the price is too high, most buyers won’t give it a second thought - which is why you want to determine the listing price carefully.

Setting the right listing price will also attract more potential buyers to your home right off the bat.  You’ll also notice an increase in response from realtors, and receive more calls about the property.  The listing price is very important - and it can ultimately determine whether or not you sale your property.

When you put your home up for sale, most activity will happen within the first couple of weeks.  If you put the right price on your home, you’ll notice immediate interest.  There are always buyers looking for homes in their price range, waiting for new homes to be listed or homes to be reduced in price.  Buyers who are waiting to purchase may miss seeing your home completely if the price is too high.

Getting an appraisal before you list your home can help to determine the listing price of your home,   This way, you’ll know the full value of your home.  You can sell it for market value or go a little under, although you should never attempt to go way over the value.  The home market is very competitive these days, which is why you want your home to draw as much interest as possible.

Keep in mind that real estate agents really have no control at all over the real estate market, only the plan behind marketing.  Real estate agents don’t determine the asking price - the seller does.  If you do things right and take each thing step by step, you’ll set the listing price in the right area and make selling your home much easier.

LIKE MODEL HOME--Wide plank hardwoods throughout bottom level, Floating Island, 3 cm Granite in Kitchen, Cherry Cabinets Throughout.

Mirrored Dining Wall, Welcoming Paint & Accents, Plantation Shutters, Upgraded Ceiling Fans with remotes, 3-M Window Tent, Radiant Barrier Decking, upgraded insulation.

Come see this phenomenally well kept property!

Tenant gets use of Twin Creeks Amenities Included!

Real-estate is among the industries who are stepping up with their online with nearly 84% beginning their home search online.

A common online scam is with false web classified ads. Some of the homes listed on online ad sites are posted far below the actual sale price or they are homes posted that are not truly for sale.

How do you identify such scams? Here are some examples:

• A person claiming to be out of the country.

• Dealing only with wire transfers or money gram

• Requiring money before showing you the home

Some real-estate scammers would be able to show you a property, however, remain cautious and do some research first on the property before proceeding with any kind of payment.

Never provide any kind of personal or financial information to individuals or organizations that only send you emails asking for it. Verify the information provided by the person you are dealing with.

But the best thing that could help you avoid such problems is by getting a real-estate agent or a mentor to help you out and protect your best interests.

Janus Real Estate Group *    Heather Anderson *    972-765-3773

According to the U.S. Green Building Council, more homes are becoming environmental-friendly due to its numerous benefits. What are these benefits?

• Lower Utility Bills - Greener homes use less energy which means less money on bills. The price of fuel has constantly increased over the past years. Studies show about 15 to 20% of house energy can be lost because of poor construction.

• Healthier air quality - Indoor air is two to five times more polluted compared with outdoor air. Using home materials that produce better air quality are those materials (paints, stains, glues) that have low content of toxic chemicals. They may cost more in the beginning but are better for your health in the long run.

•Doing your part to help the Earth - Opting for greener homes and buildings means that you are helping save the earth. Less consumption of energy means you are consuming less fossil fuel, and less of a carbon footprint.

When thinking about making your real-estate property eco-friendly, you could always coordinate with a local or regional green building organization. They have network of architects and builders who would be able to help you improve your home. There are also guidelines when building green houses, so make sure that you are properly informed. Before proceeding with any green real-estate developer or builder, make sure to inquire about their previous homes.

Planning to sell your home but not sure about its market value? Getting your home and property appraised would help you get an idea about your property’s value. However, the appraised value should not be confused with comparative market analysis (CMAs). The appraised value is the only value honored by banks whenever they are planning to loan money.

Appraisal reports are actually very detailed. They include details of the property, the status of the real-estate market where the house is located, flawed characteristics of the house, how long the house has been for sale, and the type of the neighborhood where the house is located.

Appraisers should not be confused with inspectors. Inspectors check the chimney, test appliances, inspect fixtures and recommend repairs to increase the home’s value before putting it up for sale, or before the end of your contract option period.

When determining the value of the property, appraisers use three approaches. First, the value could be determined by the sales comparison approach - by comparing the property with other similar properties in the area. Second, the cost approach- determining and identifying needed improvements in the property. Finally, the income capitalization approach where the value is determined by the potential operating income that can be earned from the property. The sales comparison approach is most common in purchasing a home.

When choosing an appraiser, verify his background and identify if they were able to meet state licensing requirements. Appraisers have strict standards and codes they must abide by as well.

Negotiations in real-estate deals is all about compromising and agreeing in order to close a transaction.  The negotiator should know the needs of the client.  Legal knowledge is important, since the negotiator should be able to identify the legal processes that could be done to achieve the client's needs.  Negotiators are usually real-estate lawyers, although real-estate agents can also negotiate for their clients.

To get successful negotiation results, it is important to be informed, prepared and set realistic goals.  Your agent can provide you with a Comparable Market Analyses or CMA to know a realistic price range to begin your offer with-showing how local houses with similar features compare in price and size.

• Never let your emotions get ahead of you.
• Start with an offer that you know that they would not be able to refuse and not a quote that would make them angry or rolling in laughter. When presenting the offer, make sure to state how both parties would benefit from the deal.
• It is normal that the opposite party would ask questions and state their expectations, be confident when answering. Be cool and calm, even if the arguments are pushing you on your wit's end. Present the answers in a way that would help them see that they have a way of getting out of the deal.
• You do not have to say or show how desperate you are to purchase the property. If you would like to convince the other party to give-in, don't overreact with the offers or quotations or try bluffing with the other party. Be straightforward with your win-win solution and be prepared to counter their arguments. Look for loopholes and weaknesses which would help turn the table around.
• When starting with the negotiations, it is better to correspond with written documents. Oral commitments cannot stand or are not duly recognized as a binding agreement by some states.

In real estate negotiations, compromise is key.  Sharing a common ground makes it easier for both parties to come up with win-win solutions.

Janus Real Estate Group *    Heather Anderson *    972-765-3773

This weekend, August 20-22, 2010 is the annual Tax Free Weekend for Back to School shopping. The following is a list of items that are included in the program:

• Binders
• Book bags
• Calculators
• Cellophane tape
• Blackboard chalk
• Compasses
• Composition books
• Crayons
• Erasers
• Folders; expandable, pocket, plastic, and manila
• Glue, paste and paste sticks
• Highlighters
• Index cards
• Index card boxes
• Legal pads
• Lunch boxes
• Markers
• Notebooks
• Paper
• Pencil boxes and other school supply boxes
• Pencil sharpeners
• Pencils
• Pens
• Protractors
• Rulers
• Scissors
• Writing tablets

Good luck to all the students going back to school on Monday morning!

When you sell your home, the process is almost like going to a job interview. Selling a home involves presentation, which is one of the key factors that determine the outcome. Although this may sound a bit weird, presentation is a way of life in the world of real estate. Buyers in today’s market look for good presentation – many basing their final decisions on it.

If you have a garage, be sure to go though and clean out your garage before listing your home. Chances are that you store things in your garage, which can easily pile up over time before you realize it. Many buyers look for homes that are in tip top condition.

Most homes have some truly outstanding features inside of them. You should always do your best to highlight the best features of your home, instead of just hoping that the buyer understands what they are. The ideal way to bring out the best features of your home is to use the proper lighting and accentuate the best features.

When a potential buyer first pulls up to your home, if your lawn is trimmed and well taken care of, he will get a good impression right off the bat. If your lawn is a wreck, he may immediately pull away. Put some thought into this first impression. You can easily plant flowers around the walkway and throughout the yard.

Make sure the entrance into your home is inviting. The front door should be in great shape, as well as the entry area into the home. You can add plants, paintings, and rugs to ensure that your buyer gets a good first impression. When the buyer walks through the entry way into your home, you should make sure that the view he or she takes in is a good one.

Keep in mind that it may take some time to sell your home. These days, homes can be on the market for months at a time before they actually sell. If you are having trouble selling your home, you can always reduce the price or simply go back to the basics and take a look at your house through a buyers shoes.

Is an Inspection Really Necessary? The long and short answer to that question is absolutely and I will do my best to explain exactly why this is so.

A real estate inspection is the act of having a qualified (and in many states, licensed) professional take a look around the property you are considering and informing you of obvious and potential damage or problems with the property.

This is not something you want your uncle Bob doing, unless of course, good old uncle Bob has had the training and experience to know what to look for in an inspection and know what those things could mean.

Inspections are great before placing the bid on a house because they actually give you a bargaining chip. If the roof needs to be replace you are justified in offering a lower amount. If the electrical system needs to be updated, this is something that should be adjusted or amended in the final offer. These are things that are easily identified by a qualified and competent property inspector.

Property inspections often shed light on the amount of money that will be needed in order to get the house in livable condition. Knowledge is very important and can mean the difference between taking on a project or thousands of dollars in repairs and professional help.

While these things seem so simple, it is often the simple things that lead to the greatest disasters. Whether or not you realize it, a good home inspector is one of the best tools you can have in your belt when purchasing your next home.

There is something to be said about a neat and tidy house when you are sorting through house after house looking for the perfect home for you and your family. This is something that should be kept in mind when selling either a personal home or an investment property. There are a few other things you should keep in mind when it comes to selling real estate. One of those things is that staging sells homes.

Seriously, there is something cold about an empty house. It could be painted impeccably and meet every possible standard a family has and yet feel cold and anything but homey when walking through the home for a real estate tour or inspection. This can be easily overcome by contacting a local furniture rental store and picking out furniture that will match at least the primary rooms of the home in order to make the home appear leaved in and homelike.

There are few things that will turn off potential buyers more quickly than an overpowering fragrance however so keep this in mind when selecting the method of fragrance. Having some fragrance in the home also eliminates the problem of an empty house taking on the 'empty house' scent that so many do over time. In other words, this is yet another part of the staging process that works for many trying to sell homes.

The short answer to the question of whether or not staging sells real estate is "yes". Staging a home can absolutely lead to a higher offer and a quicker sell, even in today's sluggish market.

Collin County has a new - free - online tool for its residents to protect their identy and property:  Property Fraud Alert.

The purpose of the notification system is to help prevent people from filing fraudulent land records with the County Clerk, making it look like they own your home or business property.

"Scam artists pick a house to steal, maybe a rental property.  They then assume the homeowner's identity using any information they can find on the homeowner, create fake ID’s, forge signatures and notarizations, and file a fraudulent deed transferring the property away from the legitimate homeowner. Next, they record the deed and sell the property or re-mortgage it and pocket the proceeds – and can be long gone before the homeowner is aware of what’s happened"

Sign up today for free to keep an eye on your property.