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What A Seller Should Never Say!


What A Sellers Says Can And Will Sabotage a Sale!

Wherever possible a seller should not even be home or be the one to show their home to a potential buyer and their agent. However, situations do arise in which it is necessary for the seller to show their home. But, one of those reasons should not be a seller who just wants to be involved in showing off their home. The seller should leave when the buyer and their agent arrive. It is the incidental comments to, or answers to questions from, the buyer or their agent on the way out that can kill the sale.

Things a Home Seller Should Never Discuss


A buyer's agent will try to get every advantage in negotiating a sale for their client by pulling personal information out of a seller when the seller is willing to provide it.


All too often, sellers answer questions put to them by other agents because they don't see it as a mistake to provide what they feel is "just information". But what they can say to an agent or the buyer can have big implications.
Here are some things a seller should never talk about with a buyer, regardless of how innocent the topic might seem:


1.The present sales price.
2.The length of time the home has been for sale.
3.Why the seller has decided to sell.
4.The comparable sales prices of other homes.
5.Any price reduction considerations.
6.Things that might be wrong with the home
7.How many offers the seller has received.
8.How quickly the seller would like to close.


It is "Miranda" all over again: anything a seller says can and will be used against the seller when the buyer enters negotiations to buy that home. If a seller, for example, mentions that she hopes the home sells soon because she's under contract to buy another home, the buyer knows this is an opportunity to squeeze every concession they can out of the seller.


The best thing a seller can say to respond to any of those questions is:
You will have to ask my agent that question.

•Buuuutt, I just wanna know if you've had any offers yet.
Answer: You will have to ask my agent that question.

•Can't you tell me if your home has been on the market for 7 days or 7 months?
Come on, this is not a hard question!
Answer: You will have to ask my agent that question.


•If we wrote an offer today, would you be willing to reduce the price by $10,000?
Answer: You will have to ask my agent that question.

This is the reason you hire a real estate agent to sell your home. A listing agent is the buffer between the seller and the buyer, including the buyer's agent. Your agent earns their commission by protecting you and your investment.

 



 

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First time home buyers usually have the same first question. Should I wait until I find the perfect home or settle in a timely manner? This question has a surprisingly easy answer. For your first home, buy a home that fits your needs at a price that you can handle.Family in Front of House - Rent to Own

Your first step should make a list of everything you NEED in a house. It’s going to be really hard for your first home but you’ll want to REALLY differentiate yours wants from your needs. Now have your real-estate agent conduct a search based on your list of criteria. Narrow the search results down to your favorites. Some things you’ll need to think about when deciding if it meets your needs are:

Number of bedrooms, number of bathrooms, garage space, type of lawn, traffic, noise level, noise level, school reputations, and distance to stores.

We have prepared a checklist to fill out for each of the houses you have your eye on. Click Here for the checklist!

As with any negotiations, it’s not wise for you to try and outbid your competition on EVERY home you see. Bid reasonably and eventually you will win.

The upshot of this blog is: buy the house you need at the price you can afford!

Still hungry for more information? Fortunately, we have just the thing for you. Check out our website dedicated to giving first time home buyers like you all the information you need to make buying your first home a smart, well-informed, and pleasant experience. You can also follow us on facebook and twitter.

First Time Home Buyers - Your First Home in Las Cruces

First Time Home Buyers

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  Looking for a home in Las Cruces? Then we have the perfect event for you! The Las Cruces Homes Builders Association is hosting the Spring 2015 Showcase of Homes. This year the LCHBA has 28 homes spread throughout Las Cruces. The houses vary in design, styles, and building techniques. This showcase is great for someone in the market for a home, or someone looking for ideas to apply to your current home. This year there is a special showcase, The Twilight Tour. The tour features the lighting elements of each home, which gives the buyer a different perspective of the homes being showcased. This event is something you don't want to miss. Below is a chart & map to locate details on homes in the Spring showcase.


The Las Cruces Home Builders Association hasbeen working tirelessly to be the voice of the building industry in Southern New Mexico. It was established in 1959, and has been constantly changing and improving over the years to promote professionalism in the industry, advocate for a balanced economy in Southern New Mexico, and providing educational opportunities about the industry for the community. Currently they have over 300 builder Members, associate members, and affiliates, who are working in association with the LCHBA to ensure that they continue to meet their goals and grow. Thanks to their hard work and dedication, this event gives buyers or anyone interested in viewing a home the opportunity to do so.

WHEN: April 25-27 & May 2-4


Fridays 4pm-7pm • Saturdays 10am - 7pm • Sundays 12pm - 5pm


The Twilight Tour Friday May 2, 2014 4 pm - 9:30 pm

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This Blog marks the first in our weekly series: "365 days of special things to do and places to go" in Las Cruces, Dona Ana County and the surrounding areas of Southern New Mexico".

 Spring is here and the Festival Season is starting out with a bang. Next weekend April 24th-26th, there is something for everyone. There are festivals, fiestas, art shows, and annual events that ring in the summer in the Southwest. You can listen to some of the hottest country acts in music at the Las Cruces Country Music Festival. Visit the Farmer’s Market and be amazed as artists create paintings using Main Street as their canvas. You can spend a relaxing weekend tasting wines from right here in Southern New Mexico at the La Vina Wine Festival. Whatever suits your taste, there is something for you to do this coming weekend.

 Let’s start with this coming weekend.

Las Cruces Country Music Festival: Las Cruces is proud to once again bring visitors some of the hottest and most popular names in country music April 24-26, 2015! The Las Cruces Country Music Festival is a three day celebration of country music in downtown Las Cruces. http://www.lascrucescountrymusic.com/



 

4th Annual Avenue Art: When: Sat, April 25, 6am – 3pm, Where: Main St, Las Cruces, NM. AVENUE ART NEW MEXICO is a one-day community festival where art happens before your eyes as artists of all ages create paintings on the street. The canvas is Main Street in Downtown Las Cruces, New Mexico. Juried artists compete for cash prizes and awards. There is also a special area set aside for our very young “ASPIRING ARTISTS” to play and create (so bring your kids!) See more details at

http://downtownlascruces.org/home/avenue-art

https://www.facebook.com/AvenueArtNewMexico



 

La Viña Winery 2015 Spring Wine Festival: Saturday April 25 and Sunday April 26 from noon to 7 p.m. Over 20 wines will be available for tasting and purchase. Adult admission to the festival is $20 and includes a souvenir glass and a choice of 9 wines or a glass of wine. http://lavinawinery.com/


Keep watching our blog weekly for what to do and where to go.

 

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6  Mortgage Mistakes You Can Make

Getting an affordable property at a great rate can make you feel as if life couldn't be any sweeter. But ask anyone who bought a house with a mortgage they didn't understand and couldn't afford, and they will likely tell you their house has brought them nothing but frustration and tears. Here are the top 6 mistakes buyers make when purchasing a home.

1: Not reviewing your credit first

Before you go to your first open house, you need to get a credit check. You can find free credit report services online, some of the major ones are Experian, Equifax and TransUnion. You're entitled to one free credit report from each agency each year, make use of these tools to be familiar with your credit background and score. You'll need your credit score to be in tiptop shape if you want the best rates. According to the Federal Trade Commissions' in 2013 they found 5 percent of consumers had errors on their report that could result in less favorable loan terms. If you're among that 5 percent, you want to the find the error and correct it before applying. If your credit score simply stinks, you can try these tips for raising it fast.

2: Failing to get pre-approved

The next mistake you can make when applying for a mortgage is failing to get pre-approved. Getting pre-approved by a bank is one way to avoid the heartbreak that comes from falling in love with a house you can never buy. It may also give you an edge if there are multiple offers for the same property. A seller may feel more confident selecting a bid from someone with a mortgage pre-approval rather than a person who hasn't even begun the process.
However, don't get carried away by whatever pre-approval amount you receive from the bank. Remember, what the bank thinks you can afford and what you can actually afford may be two different things. A lot of people lost their homes in the Great Recession because they were given loans they couldn't pay back. Don't make the same mistake.

3: Not shopping around for the best rate

The Consumer Financial Protection Bureau states nearly half of mortgage borrowers don't shop around and that's a big mistake. Even seasoned comparison shoppers may search for the best deals on their soap, their furniture and their car, but then don't look for a better mortgage rate. It may be convenient to use your primary bank for a mortgage, but that could also be expensive if its rates aren't competitive. According to Bank of America, for every 0.25 percent you can reduce your loan on a $200,000 mortgage, you'll save $30.55 per month. Over a 30 year period that can add up to a lot of extra cash.

4: Ignoring mortgage fees

While you're investigating rates, check out the fees on available mortgages, too. Most mortgages come packed with fees of all kinds, and while some, such as your county recording fee, are likely fixed, others are completely negotiable.

Before your closing, you should be provided with a good faith estimate of the fees. Ask your lender to review what they are for and then see if you can negotiate a lower price. These are a few of the fees likely to have the most wiggle room:
    •Loan origination fee
    •Application fee
    •Broker fee
    •Underwriting fee

5: Not having cash for a down payment

Not having a down payment can be a mistake for two reasons. The first is that it can sink your prospects of getting a mortgage. After being bitten by the housing market crash, traditional lenders shy away from giving mortgages to those bringing nothing to the table. But even if you can find a program that will allow you to get a mortgage with little or no money down, you could still be making a mistake. Remember how the housing market crashed from 2007-2009? Property values plunged and suddenly homeowners found themselves owing more than their homes were worth. When those owners then lost their jobs or otherwise couldn't keep up on their payments, they often found themselves without a prayer of refinancing or selling their property As a result, many ended up on the receiving end of a foreclosure notice. While nothing is guaranteed, putting 10-20 percent down on your house can reduce your chance of ending up in the same position.

6: Not understanding your mortgage terms

Underwater mortgages weren't the only problem facing homeowners during the Great Recession. An untold number of people also lost their houses simply because they signed on the dotted line without understanding what the heck their mortgage entailed.For example, people thought they'd hit the jackpot with interest-only loans that let them buy houses beyond their wildest dreams. However, they apparently didn't understand or overlooked the fact that their monthly payment would hit the stratosphere five years later. What's more, those five years of payments wouldn't give them a bit of equity in their home.
Adjustable rate mortgages, known as ARMs, operate under a similar structure. Homeowners were fine for the first few years when their mortgage rate was fixed and low. Then it reset to the current market rate and that affordable monthly payment suddenly didn't seem so affordable anymore. A 2008 report from the Federal Reserve Board found more than 75 percent of the subprime loans issued from 2003-2007 were "short-term hybrids" that work like ARMs. By 2008, more than 21 percent of these subprime loans were seriously delinquent.
The moral of the story is to always understand what you're signing up for. It's not enough to know what your monthly payment is today. You also need to ask if the interest rate can change and if so, when and by how much will it increase. If you're not comfortable with the loan terms or don't understand them, it's better to walk away than make an expensive and potentially life-altering mistake.

 

Bonus: Choose a Realtor who can help you!

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