Do You Need a Realtor to Buy a Home?

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Buying a home is a major investment, and it comes with a lot of variables. From finding the right neighborhood to determining how much home your budget allows, it is a complicated task. Because of the difficulties involved, many prospective homebuyers decide to work with a full-service realtor. However, if you decide to go on this venture by yourself, here are the top things you’ll want to know before you buy a home without a realtor. 

 

Consider These 5 Things Before Buying a Home Without a Realtor:

Forbes shared 5 times to consider buying a home without a realtor:

1. You’re Related to the Seller

You might be able to avoid hiring a real estate agent if you’re selling a home within your family. In that case, as long as you’ve agreed on a price and other important transaction details, you’ll probably be able to handle it without the seller paying thousands of dollars in commission. Regardless, consult a lawyer to conduct a title search on the property and ensure that all paperwork is properly filled out, reviewed, and filed.

 

2. You Know the Area

When you’re buying a home in a neighborhood you know well, you might not think it’s necessary to hire a buyer’s agent. However, a real estate agent can provide more information than just market knowledge, such as assisting you in finding the right home and negotiating with the seller’s agent.

 

3. You Can Save Money

In rare circumstances, a buyer may be required to pay all or part of a buyer’s agent’s commission. Someone selling a home on their own, for example, might state in their listing that they will not negotiate fees with a buyer’s agent. In this case, instead of hiring an agent, you might decide it’s worthwhile to try to work directly with the seller.

 

4. You Get to Work Alone

Even though they are legally required to represent your interests, you may be wary of dealing with a buyer’s agent. If you believe an agent would rush you into a deal or match you with the wrong house, you might feel more at ease handling it yourself.

When dealing with the seller’s agent, you’ll want to make sure you’re not overmatched. Think of it like negotiating a divorce settlement with just the counsel and expertise of the other party’s lawyer—it might not go well for you.

 

5. You’re Buying a New Home

If you’re only interested in buying a newly constructed home, you might be able to work out a deal with the builder directly. According to the NAR survey, about 6% of buyers worked with a builder or builder’s agent to purchase a home in 2020.

 

real estate agent helping someone with paperwork

 

The Benefits of Working With a Realtor

The best tip for buying a home is not to do it alone. Realtors can assist you with every aspect of shopping for a home. From researching the market to representing you throughout sale negotiations, a realtor’s ultimate job is to provide you with peace of mind. When working with a realtor, they can help you find the home that meets your budget and your lifestyle. Additionally, real estate agents speed up the process of buying a home because their knowledge and experience help them be more efficient throughout the entire process. This means you will save both time and money and have the peace of mind in knowing all the details are being handled by a professional.

Are you interested in learning more benefits of working with a realtor? 

Connect with a Local Expert

The post Do You Need a Realtor to Buy a Home? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Do You Need a Realtor to Buy a Home?

/in , , , , , , , , /by

Buying a home is a major investment, and it comes with a lot of variables. From finding the right neighborhood to determining how much home your budget allows, it is a complicated task. Because of the difficulties involved, many prospective homebuyers decide to work with a full-service realtor. However, if you decide to go on this venture by yourself, here are the top things you’ll want to know before you buy a home without a realtor. 

 

Consider These 5 Things Before Buying a Home Without a Realtor:

Forbes shared 5 times to consider buying a home without a realtor:

1. You’re Related to the Seller

You might be able to avoid hiring a real estate agent if you’re selling a home within your family. In that case, as long as you’ve agreed on a price and other important transaction details, you’ll probably be able to handle it without the seller paying thousands of dollars in commission. Regardless, consult a lawyer to conduct a title search on the property and ensure that all paperwork is properly filled out, reviewed, and filed.

 

2. You Know the Area

When you’re buying a home in a neighborhood you know well, you might not think it’s necessary to hire a buyer’s agent. However, a real estate agent can provide more information than just market knowledge, such as assisting you in finding the right home and negotiating with the seller’s agent.

 

3. You Can Save Money

In rare circumstances, a buyer may be required to pay all or part of a buyer’s agent’s commission. Someone selling a home on their own, for example, might state in their listing that they will not negotiate fees with a buyer’s agent. In this case, instead of hiring an agent, you might decide it’s worthwhile to try to work directly with the seller.

 

4. You Get to Work Alone

Even though they are legally required to represent your interests, you may be wary of dealing with a buyer’s agent. If you believe an agent would rush you into a deal or match you with the wrong house, you might feel more at ease handling it yourself.

When dealing with the seller’s agent, you’ll want to make sure you’re not overmatched. Think of it like negotiating a divorce settlement with just the counsel and expertise of the other party’s lawyer—it might not go well for you.

 

5. You’re Buying a New Home

If you’re only interested in buying a newly constructed home, you might be able to work out a deal with the builder directly. According to the NAR survey, about 6% of buyers worked with a builder or builder’s agent to purchase a home in 2020.

 

real estate agent helping someone with paperwork

 

The Benefits of Working With a Realtor

The best tip for buying a home is not to do it alone. Realtors can assist you with every aspect of shopping for a home. From researching the market to representing you throughout sale negotiations, a realtor’s ultimate job is to provide you with peace of mind. When working with a realtor, they can help you find the home that meets your budget and your lifestyle. Additionally, real estate agents speed up the process of buying a home because their knowledge and experience help them be more efficient throughout the entire process. This means you will save both time and money and have the peace of mind in knowing all the details are being handled by a professional.

Are you interested in learning more benefits of working with a realtor? 

Connect with a Local Expert

The post Do You Need a Realtor to Buy a Home? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Must-Haves and Nice-To-Haves Lists

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Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home.

A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.

Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.

Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.

These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.

Creating Your “Must-Haves” List

The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.

Here are some questions to ask yourself as you build your “Must-Haves” list:

  • Where do you want to live? (Be as specific as you can.)
  • What do you have now that you can’t live without?
  • What are you missing now that you may need for the next several years?

If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.

Creating your “Nice-To-Haves” List

While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.

Here are some questions to ask yourself as you build your “Nice-To-Haves” list:

  • What home upgrades are you willing to make?
  • What is something you’d like to do in your house more often?
  • What do you have in your current home that you love, but don’t need?

Searching for Your Next Home

These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.

Looking for a real estate agent who can help guide you through the home buying process? Connect with an Agent:

 

The post Must-Haves and Nice-To-Haves Lists appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Must-Haves and Nice-To-Haves Lists

/in , , , , , , , , , /by

Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home.

A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.

Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.

Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.

These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.

Creating Your “Must-Haves” List

The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.

Here are some questions to ask yourself as you build your “Must-Haves” list:

  • Where do you want to live? (Be as specific as you can.)
  • What do you have now that you can’t live without?
  • What are you missing now that you may need for the next several years?

If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.

Creating your “Nice-To-Haves” List

While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.

Here are some questions to ask yourself as you build your “Nice-To-Haves” list:

  • What home upgrades are you willing to make?
  • What is something you’d like to do in your house more often?
  • What do you have in your current home that you love, but don’t need?

Searching for Your Next Home

These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.

Looking for a real estate agent who can help guide you through the home buying process? Connect with an Agent:

 

The post Must-Haves and Nice-To-Haves Lists appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Seller Facts

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Here are some fun facts about recent home sellers. This research comes from the National Association of Realtors survey of home buyers and sellers:

  • 10 years = the average time recent home sellers have lived in their home. This number has remained essentially unchanged for the last ten years. From 1987 to 2007 the average was 6 years.
  • 89% = the percentage of home sellers who use a Realtor to help sell their home. This has been trending higher over the last 20 years. In 2001, 79% of home sellers used a Realtor. As the transaction gets more and more complex, more sellers seek the help of a Realtor.
  • 75% = the percentage of home sellers who found their Realtor through a personal relationship as opposed to seeking out an agent they didn’t know.
  • 77% = the percentage of home sellers who only interviewed one Realtor for the job of selling their home.

The post Seller Facts appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Seller Facts

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Here are some fun facts about recent home sellers. This research comes from the National Association of Realtors survey of home buyers and sellers:

  • 10 years = the average time recent home sellers have lived in their home. This number has remained essentially unchanged for the last ten years. From 1987 to 2007 the average was 6 years.
  • 89% = the percentage of home sellers who use a Realtor to help sell their home. This has been trending higher over the last 20 years. In 2001, 79% of home sellers used a Realtor. As the transaction gets more and more complex, more sellers seek the help of a Realtor.
  • 75% = the percentage of home sellers who found their Realtor through a personal relationship as opposed to seeking out an agent they didn’t know.
  • 77% = the percentage of home sellers who only interviewed one Realtor for the job of selling their home.

The post Seller Facts appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

No Inventory?

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One misconception about today’s market is that there is ‘no inventory.’

Actually, there are numerous new listings that hit the market each month. It just so happens that they tend to sell quickly.

The numbers show the number of new listings that came on the market in September closely equate to the number of sales that occurred.

  •  In Larimer County, 693 new residential listings hit the market last month and there were 688 sales.
  •  In Weld County, there were 681 new listings and 733 sales.
  •  In Metro Denver, there were 6125 new listings and 5233 sales.

So, while homes tend to sell quickly today, there is still a significant amount of new inventory hitting the market each month for buyers to consider.

The post No Inventory? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

No Inventory?

/in , , , , , , , , , , , /by

One misconception about today’s market is that there is ‘no inventory.’

Actually, there are numerous new listings that hit the market each month. It just so happens that they tend to sell quickly.

The numbers show the number of new listings that came on the market in September closely equate to the number of sales that occurred.

  •  In Larimer County, 693 new residential listings hit the market last month and there were 688 sales.
  •  In Weld County, there were 681 new listings and 733 sales.
  •  In Metro Denver, there were 6125 new listings and 5233 sales.

So, while homes tend to sell quickly today, there is still a significant amount of new inventory hitting the market each month for buyers to consider.

The post No Inventory? appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Lower Lumber

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Lumber prices are becoming more normal again.

After soaring this Spring to record levels, they have lowered back to near pre-pandemic levels.

The current price for 1000 board feet of lumber is $577.  This is 62% below the price this past May when it reached an all-time high of $1,515.

In the years leading up to the pandemic, prices tended to be between $350 and $500.

While this is great news for consumers and home builders, the prices aren’t drastically lower yet in the lumber aisle at your local bib-box hardware store.

This is because many retailers are still selling through their inventory of lumber which they purchased at higher prices.

However, for the long term, home buyers will benefit from the more normal lumber prices that now exist in the market.

The post Lower Lumber appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Questions to Ask During Your Virtual Home Tour

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Thanks to COVID-19, the new reality is that many open houses and home tours are being conducted virtually. For prospective home buyers, this new territory brings an added element to prepare for in the home buying process. Some of the questions that should be asked in a virtual home tour parallel those of in-person tours, but others are unique to today’s virtual world.

 

Could you zoom in?

  • Sometimes it can be difficult to get a true glimpse at what you want to see in a room. Asking the agent to zoom in on specific features is commonplace in virtual home tours, and they understand this is part of the viewer experience. Don’t hesitate to ask multiple times. Getting a better look at everything you want to see will help you feel like you’ve gotten the most out of your virtual tour.

 

How many square feet are in this room?

  • Virtual tours can slightly distort space, making it tough to gauge the size. The room-to-room square footage is information the agent is sure to have handy. Since you can’t be there in person, it will help you piece together the virtual visuals with the sense of physical space that we’re all accustomed to feeling in the places we live.

 

What color is that?

  • In the smartphone era, and computer era at large, we have come to understand that digital representations of color are not always true to the eye. Ask the agent to confirm specific colors so you can plan accordingly. Have a color swatch on hand or look the colors up online as you go through the tour.

 

When were the appliances last updated?

  • The importance of this question rings true in past, present, and future. Knowing the state of the home’s appliances, and the likelihood and timing of when they will need replacement, is vital information for both assessing the move-in readiness of the home and understanding what costs might lie ahead.

 

Has the seller provided an inspection?

  • This is another example of a critical question, whether your home tour is virtual or physical. If the seller has already done an inspection, ask the agent to lead you to any areas of concern based on the inspector’s findings. If there is anything that has not yet been addressed by the seller, have your agent ask what their plan is for making the necessary repairs/updates.

 

When is the offer review date?

  • Understanding the seller’s timeline for reviewing and accepting offers will help guide your decision-making process and allow you to strategize based on the timeline.

 

Whether your home tour is physical or virtual, getting the information you need to make an informed decision remains paramount. Although there is no substitute for physically being in the home you are looking to buy, keeping these questions in mind will position you well as you progress through the home buying journey.

The post Questions to Ask During Your Virtual Home Tour appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.