What does MLS (multiple listing service) mean to me?
IF YOU ARE A SELLER, it means that your property is introduced to any and all Realtors to see if any of them have a buyer that would be interested in your property - great advertisement for sellers.
IF YOU ARE A BUYER, it means that you can look with ONE agent and he/she can show you any and all properties listed for sale. You should pick an agent that you feel comfortable with and be loyal to that agent when looking at properties. Doing this will insure that the agent will give you the utmost attention to your needs in a property instead of bouncing from agent to agent and that agent will not work as hard for you if he/she does not have your loyalty.
What are some simple things that I can do to my home to help you sell it faster?
Great Question! There are lots of little things you can do to put your home in the best light for when buyers look at it. One key thing, is to reduce clutter! It's fine to have your home look "lived in" but the more clutter you can eliminate, the better your home will show to potential buyers. That goes for "big clutter" as well as "little clutter". If you have a place where you can store excess furniture, do it! Less furniture makes your rooms look bigger, and potential buyers can get a better idea of how their furniture would look in any given room.
Pick up magazines and knick-knacks. Leave some things out, to keep your house looking like a home, but instead of filling a tabletop with photos, just leave a few.
I am looking to purchase a home. Should I get a Buyer's Agent?
Visit or ask your favorite Realtor about the "Agency Disclosure Form". Our agency rules and regulations are constantly changing from National Realtors Association and you should become familiar with the different forms agency can take. Aspen Realty works as an intermediary agent; therefore, we can sell any property in the state of Wyoming and work with the buyer and seller to negotiate a contract that is suitable to both parties, even though we do not represent either side but remain impartial. As agency is complicated to understand, we recommend again that you visit with a Realtor to fully understand and pick an agent that will best fit your needs.
I've heard about the "first time home buyer's" incentive. Can I still take advantage of that?"
Yes, here is some information on the Tax Credit!
LIMITED TIME ONLY: The qualifying homebuyers must have a signed purchase contract in effect by April 30, 2010 and close the transaction on or before June 30, 2010. Tax credit has now been extended to Sept. 30, 2010!
AMOUNT OF TAX CREDIT: For the first time homebuyer it is up to $8,000 (10% of the purchase price, up to a maximum of $8,000. For the repeat/move-up homebuyer it is up to $6,500 (10% of the purchase price, up to a maximum of $6,500).
FIRST TIME HOME HOMEBUYER: Eligibility requires qualifying homebuyers to not have owned a principle residence during the three-year period prior to the purchase.
REPEAT/MOVE-UP HOMEBUYER: Eligibility requires qualifying homebuyers have used the home sold or being sold as their primary residence consecutively for 5 years of the previous 8 years.
INCOME LIMITS: $125,000 for single taxpayers; $225,000 for joint taxpayers.
PURCHASE PRICE LIMITS: $800,000 maximum for both first-time and repeat/moveup buyers.
NO REPAYMENT REQUIRED: The tax credit does not have to be repaid, but homebuyers must maintain the residence as their principal residence for at least 3 years or face recapture of the tax credit amount.
MILITARY PERSONNEL: Military personnel deployed overseas for a minimum of 90 days in 2008 or 2009 would have until April 30, 2011 to claim the tax credit.
Now is an excellent time to buy your first home or take advantage of the repeat/move-up homebuyer tax credit!
What is "Private Mortgage Insurance" and do I have to have that?
Do not confuse mortgage insurance with life insurance on your mortgage payment. Mortgage insurance is insuring the bank that you will pay the payment at least down to the 80% loan to value before the bank's money is at any risk. Banks typically lend up to 80% on conventional financing and if you are asking for a 90-95% loan to value, then you have to pay the amount monthly to insure that the bank's exposure is only 80%. Ask your lender also what you will need to do, once you have paid the loan down to 80% to stop paying the monthly mortgage insurance premium.