The competition for rental homes is heating up as more Americans choose to rent instead of buy. That increase in demand is driving up rents in some markets.

Consider these eye-opening statistics: 25% of renters spend more than half of their income on rent and utilities, according to a recent report by Harvard University's Joint Center for Housing Studies. Another quarter of renters spend between 30% and 50% of income on rent and utilities.  MORE

·  What is your procedure for assisting a buyer from beginning to closing? Make sure that the agent has a precise presentation for you that explains exactly how they work and how they represent only you and your best interests.

·  What is your experience with financing alternatives, and what might they be in my situation? Each buyer's situation is different. We can literally put you in a much better financial situation with the same monthly payments simply by adjusting the financing. You might have many alternatives. Don't depend solely on the lender. Your agent should lead the way.

·  How do you determine my qualifications and when? You would be shocked at how rare it is for an agent to complete your qualifications right away. Even so, it is important to have this done early in the process. This way you are ready to make a strong offer at a moment's notice, increasing your chances for not only finding, but buying the home of your dreams.

·  How do you provide me with information on new homes for sale? Your agent should have a system that automatically updates you when new homes meeting your criteria come on the market.

·  What is your negotiating philosophy, and how do you apply it to me? This is important. Play close attention to how many transactions the agent does per year. More is better. The more transactions the agent closes, the more experience they have in negotiating just about every situation that could come up.

·  How do you find the best value for me? How do you make sure it is a good value? This is important because the agent should have some immediate and concise answers as to how they accomplish this for you. They should have systems in place and be able to explain them to you.

·  How do you protect me from the extensive costs that lenders, title companies, inspectors and others charge a home purchaser? The typical answer is that these charges are just normal. Make sure that the agent has relationships with companies that can offer you good service and some discounts. Also make sure that the agent has an immediate knowledge of what typical costs are.

·  Can you sell us a new, resale or foreclosed home? Most agents will answer affirmatively, but you should follow up with questions about specific builders and areas.
 

Of course, there are many more questions to ask, this is just a sampling. Do you have a specific question you would like answered? Let us know by calling us at RE/MAX America's Top Realty at (850) 934-4449. 

There are only four words in the English language
which end in "dous":
tremendous, horrendous, stupendous, and hazardous.

There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?

If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

A good real estate agent will know how houses in your area are selling, as well as the other factors that may influence the sale. Nearby commercial development, which may create congestion and noise, may also mean a greater demand for housing from people who will be working in the new office buildings. A new bus route that cuts commuting time could make your home more valuable and highways close by can be an issue with the price. The economic conditions have a strong impact on the real estate market. Real estate professionals can help you consider all of the issues and assist you in setting a fair price for your home.

If you are planning to build a new home, you should take full advantage of the opportunity to design a custom-built home that meets your needs and includes all the amenities you want. Create a professional-quality kitchen for the "gourmet cook" in the family, include space for a home office, and place the master suite at the opposite end of the house from the kids. Enjoy designing your dream home!

This may be the biggest project of your lifetime. Be certain to select a team of highly qualified professionals to work with you. Your home team should consist of a real estate salesperson, an architect, a builder, and a lender.

Your "Dream Team" will assure that all the legal requirements are met as your dream home is being built. Interview each member of your team and ask for references, in order to be confident you are hiring the best people for the job. You will be working closely with these professionals for many months, so choose your team carefully.

When you have decided on a mortgage lender, you begin the loan process by filling out a loan application. You should be fully prepared to go over your current financial situation and credit history with the loan officer.

Have a record of all of your current bank accounts, including the name and address of bank(s), type of account(s), and approximate balance(s). Be prepared to provide details about outstanding loans, including student loans and major credit accounts. You will also need information about your assets, such as car title, stocks and bonds, and life insurance policies.

If you foresee any credit problems, ask the loan officer for advice on how to keep them from interfering with approval of your mortgage loan. The loan officer can usually give you a prompt opinion about your chances for obtaining a mortgage. 

This knowledge makes its own case for doing your part to make the neighborhood appealing. The time to take remedial action is before you think about moving, especially if your house is the one with peeling paint, over-grown bushes, rusty bicycles, and cracked sidewalks. The value of your home will be largely determined by the recent selling prices for comparable properties, and neighborhood "eyesores" do not help to keep the values up. Even if you don't feel that you will ever move again, you will enjoy living in a house that is a real source of pride.

  In most television commercials advertising milk,

a mixture of white paint and a little thinner

is used in place of the milk.

A family pet often represents a major challenge when a house is being marketed. Your family may call your large dog "Fido"-- but your real estate agent calls him "Fang"! This is a sensitive issue for a real estate agent to communicate to sellers.

Even though he is just doing "his job", a dog's bark will sound ferocious to anyone who is knocking at the door. This is usually a good thing, but when your home is on the market, real estate agents will be bringing a lot of strangers to the door. Most agents are concerned about the unpredictability of dogs they don't know. When they are greeted by a barking dog, they may not be willing to enter the house unless the owner is at home. If your dog is confined to part of the house, such as a basement, be sure to put up a sign informing people of that fact.

Talk with your real estate agent about the best way to manage your pet while your house is being shown, and make sure that this information is included in the MLS listing.

Realtors are quick to point out that home ownership allows a lot of tax advantages not available to someone who merely pays rent. A homeowner can deduct points used to obtain a mortgage when buying a home, mortgage interest paid during the year, and property taxes.

To find out what is deductible when buying a home, click here. This article is about deductions during home ownership.

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Discrimination in mortgage lending is prohibited by the federal Fair Housing Act and HUD's Office of Fair Housing and Equal Opportunity actively enforces those provisions of the law. The Fair Housing Act makes it unlawful to engage in the following practices based on race, color, national origin, religion, sex, familial status or handicap (disability):

• Refuse to make a mortgage loan
   
• Refuse to provide information regarding loans
• Impose different terms or conditions on a loan, such as different interest rates, points, or fees
• Discriminate in appraising property
• Refuse to purchase a loan or set different terms or conditions for purchasing a loan  
  
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January Foreclosure Market Trends Report

Attached is our latest issue of the Market Trends e-Newsletter, informing you of the most up-to-date foreclosure trends and properties. 

For information,  CLICK HERE

You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you.

​To pre-qualify for a mortgage, you meet with a lender and provide information about your assets, income and liabilities. Based on that information, the lender will roughly estimate how much money you can borrow. The entire process is informal. The lender does not verify the information provided, nor charge you a fee, and he does not formally agree to approve a mortgage for the amount you are pre-qualified to borrow.

While the pre-qualification process does not guarantee loan approval, it does give a general idea about how much money lenders are willing to provide you. This gives you a number to work with, helping you decide whether you are willing and ready to borrow that much money, and to see which types of properties fall within your price range.

If coloring weren't added to Coca-Cola, it would be green.

Home sellers are always interested in their tax deduction options. If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.

Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must prove that the job change occurred while you owned and used the home as your primary residence, and that your new job is located at least 50 miles farther from your residence than your previous place of employment.

A reduced exclusion from capital gains tax may also be granted for health reasons. If your motivation for selling your house was to obtain diagnosis, treatment or cure for a disease or injury to you or a family member, you can apply for an exclusion. Unforeseen circumstances such as death, unemployment, divorce or natural disasters may also reduce your capital gains tax. Consult a tax professional for advice about your unique circumstance.