Signs you have hired a great Real Estate Agent

When you want to buy or sell property, the smartest thing you can do is hire a great agent which is harder than it sounds. You want to find an agent who you like and trust, who knows what they are doing and can prove it!  

We recommend asking two basic categories of questions to help determine if an agent is right for you:

 
1.     The first category is all about the agent: What can you tell me about your experience as an agent?

-       Do you work full time or part time? Full time means real estate is their livelihood; agents who work full time will typically be better to work with because they are not juggling more than one job & they have flexible schedules to be present throughout the entire home-buying process. However, an agent who is working full time but they are not local won't be as helpful as an agent who is locally based; local agents have knowledge of schools, community happenings, connections with local lenders, etc. and this can often be the key to finding the right fit.

-       How long have you been licensed? The longer the better; more experienced agents know how the business works and how to overcome obstacles that a newer agent may get stuck on. However, some new agents are hungry for work and can have experienced teams behind them to help them with snags. 

-       Is your license in good standing? You want to know if your agent has ever been subject to a client complaint, if they are part of their local board and if they have access to the MLS (multiple listing system - nationwide database of houses, regardless of what company is listing the home; agents who only have access to their company’s website, will not be able to help you remotely as much as agents with access to MLS), this will allow them to have the best resources available to buy or sell your home. 

-       Can I contact recent past clients for recommendations? You will want to ask your agent for past client referrals and testimonials; ideally you want this information from current or recent clients they have worked with and more than one if possible. 

-       Do you have a website & any social media that I can preview? A well-connected agent means they are operating in the 21^st century and will be able to use all avenues of technology to your advantage for marketing or finding properties.  

-       How did your last 2 deals surprise you? It's helpful to know how your agent resolves conflicts that arise; an agent who is good a problem solver is ideal with a market that is filled with unexpected hurdles! 

2.     The second category is all about your specific circumstance: What will our contract entail? 

-       What are your fees? It is important to know from the start what you are getting yourself into. Agents typically work for a percentage (usually paid by the selling side of the transaction), however some agencies tack on a bunch of other fees that other agencies don’t.

-       What do you expect from me? Real estate transactions require all hands on deck. If your agent has not mentioned “your part” of the process, be sure to ask. When selling, there will be things like staging, communicating available times for showings, disclosing known facts about your property, etc. and same goes for the buying side as well. It is also helpful to know how often they will be contacting you, you want someone who is in constant contact and updating you at least weekly with progress. 

-       What aspects of the transaction will you personally handle and which will be delegated to others? Nothing is better than having a totally hands-on agent, except having a team of hands-on agents. Working with an agent who has a strong team to help get the job done ensures that you will always have someone available to you who knows your transaction just as well as your primary agent.  

-       What is your plan? If you are using an agent to sell your home, ask what their marketing plan is; your agent should provide you with a CMA (comparative market analysis) which includes current listings & recent sales and the more data they can show you the better! If you are using an agent to help you find a home, they should be able to send you property reports and CMA's for houses you are interested in. 

-       What are you working on currently? It is good to have a full time agent but you don’t want one who is stretched too thin. Agents usually represent a few people at any given time and it is important to know their availability for you and your needs. Ask when they are not available, how much time they spend on their current clients and how much they plan to dedicate to you. 

-       Can you explain the process to me? Ask to see all documents you will be required to sign and if there is something you don’t understand then have them explain it. An agent should be able to walk you through a step-by-step process of what the buying or selling side of a transaction will typically look like. It is always better for you to have a head’s up about deadlines and other things that will eventually come your way. A good question to end on here is: What haven't I asked you that I need to know?

Finding an agent may be more difficult than you originally thought, but by asking the right questions, you can be sure to find the right match! Remember: anyone can be an agent, but a good agent is hard to come by. The Real Estate Professionals at Regal Homes welcome you to ask us questions or share your concerns, we are always happy to help in any way that we can.  

Read more:

http://www.bankrate.com/finance/real-estate/7-tips-for-picking-a-real-estate-agent-1.aspx#ixzz3PZc8gYJ8
http://www.wikihow.com/Find-a-Good-Real-Estate-Agent

http://www.foxnews.com/leisure/2013/09/13/how-to-hire-perfect-real-estate-agent/

Tis' the Season for Taxes!

       If you live in Florida, “Homestead Exemption” does not just cover one small facet of real property. In addition to exemption from taxation it also provides an exemption from  forced sale before and at death, restrictions on devise and alienation, protection to surviving spouse or minor child as well as many other things. However for this blog, the part we are all most concerned with is: the property tax exemption clause of Article VI, which “renders property tax-free to the extent of certain dollar amounts in the value of the homestead”.  

      With this exemption homesteaders in Florida are able to save on property taxes because we may exclude a portion of our home's value from its assessment. To qualify you must own real property in Florida on January 1^st and the amount of tax owed is calculated based on the difference between a home’s value and the exemption amount. For Floridians, on Jan. 29, 2008 voters approved an amendment to the Florida Constitution raising this exemption to $50,000 (the first $25,000 applies to all property tax), which is a nice change from the original $5,000 when the amendment was first passed in 1933…not too bad! 

      It is important to know that while the provisions apply automatically when one establishes a primary residence in FL, in order to benefit from the exemption, it must be claimed by a filing with the local county property appraiser's office. Another good thing to note is that the annual increase in assessed value for one’s homestead limited to the lesser 3% of the percentage change in the Consumer Price Index, which basically means there is a cap on the rate at which property assessments may be increased annually and we have the "Save Our Homes" Amendment to thank for this; it was passed by voters in 1992, and went into effect in 1995.  

        For our purposes, remember that the homestead exemption only applies to principal residences and can only be claimed by mortgage holders. They are only available for a primary residence; they don’t apply to businesses, rental property, second homes, homeowners claiming permanent residency-based exemptions or tax credits in other states or homes with owners that do not claim Florida as their primary residence. Again we have “Save Our Homes” to thank for allowing homesteaded owners to move up to $500,000 of the benefit from one Florida home to the next. New buyers make a note: acquiring a house that had a homestead exemption does not entitle the new owner to retain the low tax rate from the previous homesteaded resident homestead exemptions cannot be inherited or purchased. Also, under Florida law, the homestead exemption is only available to US citizens, permanent resident aliens or others who are legally able to form the intent to remain permanently under immigration laws. If something changes and your home is no longer your primary residence, you should notify the county tax assessor's office. In some states, failure to do so is considered fraud and can result in a criminal charge.

Here is a helpful link to help you file for your homestead exemption:

http://dor.myflorida.com/dor/property/taxpayers/exemptions.html

Other links that may be helpful are:

http://money.howstuffworks.com/personal-finance/personal-income-taxes/homestead-exemption.htm

http://finance.zacks.com/homestead-exemption-work-5597.html

Happy Tax Season to all! With love from your friends at Regal Homes!

The Keys to Keeping Your New Year Resolution

     Every year we set out to make positive change in our own lives by declaring our “resolutions”. You may be the exception, one of the minuscule percentiles who have never defaulted on a resolution but chances are…you fall into the category with the rest of us, who begin to fall off by the end of January. To help our friends this year, we have put together some “keys” to keep your resolution all year long, and then some!

Key #1: Keep it simple. Don’t overwhelm yourself with a list of 25 different goals. We suggest no more than 3 resolutions…this might sounds crazy but 3 resolutions means 3 life changes to put into practice for the next 365 days, which equals at least 1,095 intentional decisions that you did not make last year…not so simple anymore, huh?

Key #2: Don’t try to do it alone. We all need a little help from our friends now and then, especially when we want to make positive differences in our lives. Let your social media friends know, or if you like to be more low key, let your inner circle know so they can help to hold you accountable and help keep you moving in the right direction. No lone ranger can travel the path to sustainable habit change!

Key #3: Be your best ally, not your greatest foe. You’ve heard it said, “We are our own worst critics”; personal reflection often leads to harsh criticism of ourselves but remember: this is not about perfection, it is about growth. If and when you mess up, don’t throw the baby out with the bath water; each day and every moment is a chance to begin again.

     And remember, if your resolution includes owning keys to your new home, we are always here to help. Happy New Year!