A home buying expert in New Jersey just posted a good article on the scam that real estate people push buyers and sellers into. In our market it is usually disguised as “designated agency”. But for a huge percentage of consumers it turns into dual agency.
It seems every month or so we get a call from someone who is upset because they found themselves in a dual agency/designated agency situation.
Last month it was actually criminal. This month is was the daughter of a couple buying a lake front home.
They were foolish enough to call the listing agent to start with, then she got them to sign a dual agency disclosure along with the purchase contract. Then the funny-business starts.
The lesson here is to ask yourself: “Who is the best real estate company to work with if I am going to buy a home?”
If you ask that question and do some research. We’ll see you walking in our front door.
As Ann Arbor’s oldest and largest buyer’s real estate company we offer unique and specialized services for home buyers.
Best to you.
This is a new web directory I just ran across and it looks like it might be interesting.
And here is another directory that might prove interesting:
I discovered a local real estate site that is advertising properties that sold six months ago along with some other bogus stuff.
Take a look:
I apologize to recent visitors. It seems that every few weeks somebody injects about 20 lines of spam into my most recent posting.
(I actually paid my teenage daughter this summer to fix the security hole but I guess she didn’t get it figured out.)
In any case it looks like I’ll need to move or reorganize/reformat the blog soon because this is really embarassing!
As I’ve had a little more time to do web work this year I’ve learned the value of Google pagerank. Our main Ann Arbor real estate office site is PR3 because it has been around a while and gets a fair amount of traffic.
I was just a little surprised that this blog is up to PR2.
Thank you loyal readers!
A while back we created a twelve question web based home buying quiz. The answers are in audio and it is informative, especially to first time home buyers.
Click the link below:
Ann Arbor real estate buying quiz
Some of the items in the quiz are things that traditional salespeople actually don’t want you to know.
If you are ready to take the next step and start seriously looking at Ann Arbor area homes for sale, give us a call at 734-662-6240. We’ll be glad to answer your questions and help you achieve your home buying goals.
We ran across an interesting outcome on a search engine question this week.
Doing a search on “ann arbor buyer agent” on one computer yielded our office web page as number 1 in the ranking. (Which makes perfect sense.)
But when doing the same search on another computer a few feet away our main site wasn’t in the first 20 positions.
Strange!
I’ve been posting here for a while as you can see from the archives, but for some reason spammers keep breaking in and posting spam links.
I’ve asked my daughter, who uses Wordpress on her blog and is much more familiar with it, to help me out on getting the problem fixed, but she doesn’t have a clue.
So, in the coming weeks I may be moving these posts all over to my ActiveRain blog.
There is now a company here in Southeastern Michigan that specializes in fixing fogged thermal pane windows.
They serve Ann Arbor as well as all of Washtenaw County.
Fogged windows often come up as a concern during the home buying process. This reportedly system takes a while, but it looks like it is a lot less expensive than replacement.
Here is a blog where it is discussed in more detail.
If you use the service please post a comment here or there so others can learn about your results.
Helping Home Buyers Locate, Evaluate, and Negotiate great home deals!
Jon Boyd, Broker/Manager
The Home Buyer’s Agent of Ann Arbor, Inc.
http://buyersagentannarbor.com/
734-6620-6240
1908 W. Stadium Blvd. Ann Arbor, MI 48103
In this Inman News Article Tom Kelly writes about the conflicts of interest and the kick-backs often involved when a buyer lets a real estate agent pick the title company and lender.
Here is a quote:
The heat clearly is on around the country. For example, the Washington state insurance commissioner’s office investigated 12 title companies. Its report found “all the major players in the greater Seattle title insurance market were routinely breaking state laws that limit and restrict the use of incentives and giveaways to steer business.”
Powerful stuff.
If you want to work with a company that NEVER takes kick-backs, contact us at Home Buyer’s Agent of Ann Arbor
This year I’ve been lucky enough to help three different home buyers who were/are looking at homes priced well above a million dollars.
One of those families closed on their new home today.
Recently I showed one of the other families the Palmer house in Ann Arbor. Ann Arbor’s only real Frank Lloyd Wright designed and built home.
It is currently priced at a cool 1.5 million and it is unique. It is just that living there is a lot different than what we typically expect in a million dollar quality of living.
Here is a tour that the Ann Arbor News put together:Palmer Home Tour
If you are in the market for an Ann Arbor home, even if you don’t like Frank Lloyd Wright, give us a call, we would be happy to help you.
Jon Boyd
Broker/Manager
The Home Buyer’s Agent of Ann Arbor, Inc.
1908 W. Stadium Blvd. Ann Arbor MI 48103
I blog in a number of different places, most of it recently is on the real estate blog site Active Rain .
I just read a post their from one of my friends in Utah and the topic was Zillow. And, there were a dozens and dozens of examples of the problems other people have found with Zillow estimates.
Remember, you can’t determine the market value of a home with Zillow. At best you can be within about plus or minus 30 percent. That is no way to make decisions on purchases that cost hundreds of thousands of dollars!
As Exclusive Buyer Agents in an area with a lot of older homes, we end up knowing ans sharing a lot of information about sewer lines.
Here is a link to a list of homes that have had their sewer lines replace. As of this writing it is a little out-of-date, but it at least can give buyers an idea if your street is likely to be a trouble area:
List of homes in the city that have had sewer line work
Here is a document the city put together that discusses Orangeburg sewer line material:
Document on Orangeburg sewer lines
And, here is one of our other blogs where we have a couple of actual sewer line videos:
Another Blog With More Sewer Info.
Sewer lines aren’t the best topic of conversation over the dinner table, but when you are buying a home it is better to know about these types of things before you start evaluating homes!
I just saved one of our buyer clients $150 more dollars by negotiating with the title company over their closing fees.
Here is another example where it is not likely that a regular real estate agent would be doing this because they often generate income from the title companies. Or, they have a “cosy” relationship with a favorite title company that they don’t want to upset.
But this is real. We probably save buyers a couple thousand dollars each year just by using our experience when it is appropriate.
Here is a local attorney’s web page where he notes the same thing: Local Real Estate Attorney on negotiating with title company about their fees
CNN Money came our with their updated “100 best places to live and launch” list yesterday and Ann Arbor again ranked in the top 50. Here is a link to the article: 100 Best Places
The article shows that we aren’t the only ones who enjoy the vibrancy and diversity here!
I was just thinking about the level of technology we kind of take for granted here when a friend who owns a restaurant downtown ask me a computer question. I didn’t happen to know the answer so showed his laptop to one of his customers at the restaurant. The customer was happy to take a look and he identified what the problem was on the spot.
Another example - a few weeks ago I met with two different sets of home buyers. And all three of us had iphones, the newest smartphone trend. Amazing.
I saw this post today from a real estate agent writing about how he was able to negotiate a high price on a home he had listed.
Note two things:
1. He gets “buyer” and “seller” confused twice.
2. The other real estate agent, a ”buyer’s agent”, discloses how much the buyers like the home.
Both of these things are really bad if you are a home buyer. Exclusive Buyer’s Agents only represent the buyer’s side, and our agents are trained in negotiation so they don’t tell the seller’s agent “my buyers love this house”.
Here is the article:
“
The key in this market is to have a real estate agent that is good at negotiation and that can read between the lines. One of my clients had a Canton home for sale. It was beautiful, updated but it was not in the best subdivision in Canton. We Listed this Canton home for $209,000. We got an offer for $170,000. My seller turned it down. A couple of weeks later the buyers agent called me up trying to find out what my buyers would take for the home. While talking he let it slip that he couldn’t understand why his buyers loved this house so much. He said that the last agent that had listed the house had said the sellers would not sell it less for than $205,000. I told the other agent to make a good offer and I would present it to my sellers. They came back at $199,000 and $6,000 in sellers closing costs. We negotiated back and forth. The final result was that I got my buyers $205,000 with my sellers giving $6,000 in closing costs. They netted $199,000. I was able to get my seller’s 95% of the listing price because I knew the buyers really wanted the house. That is a $30,000 increase from the first offer.
This is not a typical deal in this market. But you want an agent that will tell you when you may lose the deal because of price, and an agent that will negotiate well for you. ”
Our Saline Blog had a post about Saline High School now offering a real estate license class: Saline real estate class
Our Pinckney blog recently had a post on repair credits for home buying.
Here is a quick link: Structuring a repair credit
On the topic of credit repair, one of our buyers recently asked me about raising his credit score. There is one trick I mentioned to him that is easy, beneficial, and really has no downside. That is asking your current credit card companies to increase your limits. (Only do this if you have a good record of payments with them and ideally when your credit usage is half or less than your max on the line.)
90% of the time they will increase your limit on the spot. This makes the actual account balance a smaller percentage of the available limit so you look better in terms of credit scoring!
If you have studied home buying you’ve probably seen a number of authors mentioning that in many markets the best “buyer agent” is the office that is an “Exclusive Buyer Agent”.
Well it turns our a lot of regular real estate agents have read those publications also, but instead of actually making the sacrifices that come with Exclusive Buyer Agency, they just decide to ignore the definition and advertise themselves as being an “EBA”.
It is funny that most of “bogus” agents we’ve seen aren’t even real “buyer agents” claiming to be “Exclusive Buyer Agents” they are “designated/dual buyer agents”.
A top Carolina home buying expert just posted an article on the issue here:
Will the REAL Exclusive Buyer’s Agent Please Stand Up?
It is important to understand the concepts if you are entering the home buying arena.