Monthly Archives: October 2011

What is the cost to be represented by a buyers broker?

Questions and Answers

The decision to retain the services of a Buyer’s Broker when purchasing a home, is one you won’t regret.

Of course, there is a cost; Buyer Brokers make a living through representing their clients. The good news is that there is often no additional cost to you, the home buyer, if the search for a new home culminates in a purchase. For all of their time, energy, and incredible guidance they provide, Buyers Brokers fees are usually a percentage of the commission paid by the Seller to the listing Realtor at closing, so it ends up costing you nothing for full legal representation. In most instances, a Buyer’s Broker will ask you to sign an agreement stipulating payment to him or her for services rendered and/or expenses incurred in the search for a home, with or without a sale.

Given the value of their services, this is reasonable = Time is money.

Although there are many benefits to entering into a relationship with a Buyer’s Broker to represent you in one of life’s most important purchases, among the most valuable is the time you will save by letting a professional do your leg work. Advise your Buyers Broker of the “primary” and “secondary” features you want in a home, your desires in terms of location, and be sure s/he is aware of your price range. Armed with this information, your Buyers Broker can make inroads with the realtors listing those homes which are possibilities ….and tote you around to view those properties! This is a huge boon to busy buyers who are dealing with the responsibilities of their jobs, families, and those little surprises life hands us.

In addition to acting as your eyes, ears, and legs during the home search process, the Buyer Broker extends invaluable professional guidance to you on home buying. Examples include advice on avoiding common pitfalls of a home purchase, as well as information on all aspects of obtaining financing for your home and how that will play out (from mortgage application to closing). Your Buyer Broker will make sure all the “T’s” are crossed and the “I’s” are dotted in the home-purchase process and act as your advocate during the offer, the home inspection, and all other phases of the purchase. Representation by a knowledgeable Buyers Broker in a home purchase can replace the stress involved in a “do-it-yourself home search” with confidence and peace of mind.

Perhaps the question on the “cost of having a Realtor represent your best interests as a Buyer’s Broker” should be, rather, on the worth of a Buyer’s Broker acting as your advocate. The myriad merits of the services provided by this professional who marshals your interests, legally in all areas of your home purchase can be an invaluable asset in the transaction.

Acting as your scout, as your mediator between you and the listing Realtor or seller in what could be stressful negotiations, and as a proponent through the closing phase, the Buyers Broker is a home buyer’s friend, indeed.

Author Jeff Hammerberg is the Founding CEO of www.GayRealEstate.com offering Free Instant Access to Gay, Lesbian and Gay Friendly Realtors Coast to Coast.

Posted on October 28, 2011 in Uncategorized

Featured Gay Realtor: John Boggess, Comey & Shepherd Realtors, Cincinnati, OH

Cincinnati Gay Realtor John Boggess

Let me put my 25 years of marketing experience to work for you during these challenging times. From staging advice to best ways to market your home…I can help.

For buyers, I bring my own relocation experiences to the process…I understand what it’s like. I also work throughout Greater Cincinnati, so I know most neighborhoods really well.

I volunteer a lot of my time to Cincinnati non-profits. Not only does that strengthen our community, but it helps me understand the city and all it has to offer.

Diversity means working with ALL communities and I look forward to working with you.

 Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Member of Ohio Association of Realtors, Cincinnati Board of Realtors and Northern Kentucky Association of Realtors.

President of Davidson College Cincinnati chapter
Vice President of the Cincinnati Gay Chamber of Commerce
Founding member of the Museum of Advertising
Membership VP for the Friends of CCM
Certified Association Executive
Marathoner

Specialties:

Single Family Residential; Resale and New Construcation. Condominiums, Townhomes and Loft Living. Relocation and Corporate Transfer.

View John’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on October 28, 2011 in Gay Realtors

Featured Gay Realtor: Duane Hosek, Coldwell Banker Lewis-Kirkeby-Hall, Black Hills, South Dakota

Gay Realtor Duane Hosek

Hello and welcome to the Black Hills of South Dakota. I have lived in South Dakota my whole life and have been in business 28 years. I look forward to finding you just the right home, land or business. You will love what the Hills have to offer. Clean air, a slower lifestyle and of course millions of pine trees. Our gay community is growing and I would enjoy meeting you and helping you to get acquainted and situated here in the tranquil beauty of the Black Hills.

 Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

2000 Rookie of the Year……2001 Realtor of the Year……..2002, 2003, 2004 and 2005 Coldwell Banker Presidents Elite….2006 Diamond Society Award.

Specialties:

First time homebuyers. Relocation buyers. Military Market Specialist. 2nd home buyers. Land and business.

View Duane’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

 

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on October 26, 2011 in Gay Realtors

Trick or Treat ~ What to Look for in a Home Inspection

Home Inspection

Buying a home isn’t as clean cut as you would like it to be, requiring that you take the time to inspect the home before you decide if it’s the right fit for you and those that will be living with you if you have a family.

Your inspection should involve several things, most importantly, electrical, roofing, pluming and foundation. In addition, whether or not the floors are stable, without drooping spots or sink holes, and whether or not the windows are updated or if there is going to be an efficiency problem. At the same time, you want to do your homework and determine the condition of any included appliances. 

When you are initially going through the home, you are of course tempted by the difference to overlook many things, but you should always take the time to hire a professional certified home inspector and complete a thorough home inspection. I’d recommend an inspector affiliated with: The American Society of Home Inspectors (ASHI) North America’s oldest and most respected professional society of home inspectors.

This helps to assure no scares or surprises by the home or the inspector.

The very first thing you want to consider is the actual electrical service panel and proper wiring throughout the home.

As you continue through the home, you’ll want to check out the plumbing… everything secure, and lurking lead pipes? How old is that roof, and how many layers are currently on the home?

You’ll want to also check out the windows as these are very important to the comfort of the home. If the windows are out-dated, it is easy to deduce that they will leak out heat and air, causing issues with efficiency. Updated windows seal in the heat and air into the home much better, therefore can introduce much greater savings when it comes to electric and heating bills. Also, updated windows signify that other elements of the home may have also been updated.

Don’t forget to do your homework when it comes to the inspection of a home, as there are things in the past that can affect the home as it stands today.

You also want to find out the average heating and lighting bills in the home by simply calling the utility company and providing the property address to ensure you aren’t getting into a money pit that is going to make it difficult to maintain the cost of the home.

If there are any major issues, they should be addressed before considering the home so you are able to determine the steps that will be taken to prepare the home for you.

Your real estate contract will allow for a home inspection, and working together with your realtor, you can determine what are safety / security issues and need to be addressed, vs. cosmetic issues which you noticed when you wrote your initial offer.

Author Jeff Hammerberg is the Founding CEO of www.GayRealEstate.com ~ Free Instant Access to the Nation’s Top Gay, Lesbian and Gay Friendly Realtors Coast-to-Coast.

Posted on October 25, 2011 in Uncategorized

Featured Gay Realtor: Jack Miller, Bob Parks Realty LLC, Nashville, TN

Nashville Gay Realtor Jack Miller

Jack Miller, of the stutts-miller group, is consistently one of the top producing agents with Bob Parks Realty (company-wide) and among the TOP 25 agents in Middle Tennessee (of more than 8,000 agents, Nashville Business Journal).

“Our team services Nashville (including downtown condos/lofts), Brentwood, Franklin, and surrounding suburban areas.”

“If you’re interested in buying a home in Middle Tennessee, you’ve come to the right place. We are happy to assist you free of charge by researching the market daily to find that special home for you and your family. My partner Robert Stutts and I work with buyers and sellers IN ALL PRICE RANGES.”

The stutts-miller group’s marketing & Internet capabilities have made their services particularly valuable to relocating corporate executives. “We specialize in Corporate Relocation and are approved by all third party relocation companies that service our area. Please let us know if we can send you a complimentary “area info package.”

Jack and Robert have been together since 1996 and live in Nashville. They entered the real estate business in 1998 and both hold brokers licenses and work full time in the corporate office of Bob Parks Realty in Brentwood/Cool Springs.

Jack earned a B.A. at the College of William and Mary and settled in Nashville in 1988, after completing his Master’s Degree at the University of Tennessee.

Robert, a lifetime resident of Middle Tennessee, graduated from Tennessee Technological University with a B.S. in Physics.

Jack and Robert are youth mentors and foster parents and Jack volunteers at the following organizations:

Make A Wish of Middle Tennessee (President of founding Board of Directors)

Monroe Harding (boys home/youth mentor)

Youth Villages (youth mentor)

Additionally, Robert builds race cars and manages Stutts Motorsports where our nephew drives and competes regionally in late model dirt track events.

 Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Broker, B.A., M.S., GRI (Graduate Realtor Institute), ABR (Accredited Buyer Representative),ePro (Internet Professional),CSP (Certified New Homes Sales Professional),SRES (Senior Real Estate Specialist)

Specialties:

Contact us today to discuss how you may benefit from expanded tax credit program! Robert and Jack have lived in and renovated older and historic homes. Their most recent project was a 1930’s mission stucco they lived in for six years and recently sold to country music artist Dierks Bentley. That home was featured in two magazines, including a cover story on “Home and Garden Magazine.” If you are interested in older, eclectic neighborhoods or downtown condos and infill development, we can help you find properties and contractors, too!

View Jack’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on October 24, 2011 in Uncategorized

What are the Tax Savings when buying a home?

Tax benefits of buying a home

There are several places to look for tax savings for people who are buying or who own a house. In fact, the purchase of a main residence for a person has a lot of different financial advantages. Tax savings will accrue each year, especially if the homeowner has a mortgage on the home, tax savings are a major reason for a person to buy and improve a home.

Each year, the different tax advantages may change, so it is important to speak with your CPA or tax professional to figure out these tax savings year by year.

A homeowner can take many home related deductions on their federal income tax form each year. They can deduct the mortgage interest each year, within very generous limits. This mortgage deduction is a real significant bonus for the homeowner (the interest portion of your house payment is significant; it may be as high as 90 – 95% of your entire mortgage payment… deductible). 

Most homeowners could not afford to pay cash for their homes, and so a mortgage is necessary, they can deduct most if not all of the interest paid on this mortgage on their federal taxes. This is a primary tax savings advantage for homeowners.

Some home improvements can be tax savings for the homeowner also. For example, some energy improvements can result in tax savings on both federal and state taxes.

Homeowners can also deduct the various property taxes paid on the home. These are deductable because that tax has already been paid to the municipality. The municipality will often fund schools, roads, and police with this tax. This property tax savings is an additional benefit to homeowners, and it is also deducted on the federal income tax and for several states as well. The result of the property tax of course will provide a wonderful neighborhood, city and services equaling peace of mind for the homeowner. When a person is considering the purchase of a home, neighborhood conditions, the various tax savings, and improvements are crucial considerations.

Finally, in addition to these excellent tax savings, the buildup of equity for a home will help the homeowner against the ravages of inflation. Historically, the homeowner will have more and more equity, or value in the home, each year. The mortgage will be paid off a little each year, increasing your equity, and potentially lowering your taxes as you enter your golden years.

 

Author Jeff Hammerberg is the Founding CEO of www.GayRealEstate.com ~ Free Instant Access to the Nation’s Top Gay, Lesbian and Gay Friendly Realtors Coast to Coast.

Posted on October 23, 2011 in Uncategorized

Featured Gay Realtor: Kevin Lee, RE/MAX Preferred Realty, Greenville, NC

Gay Realtor Duane Hosek

I was born and raised in Eastern North Carolina. I have been in real estate in Greenville, NC since 1998.

I have an extensive working knowledge of our market place and successfully help buyers and sellers on a daily basis.

If you are looking for and energetic agent dedicated to customer service, you have come to the right place. Please contact me today!

 Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

Greenville Pitt Association of Realtors Board of Directors, Graduate of Star Power Universities for Buyers and Sellers

Specialties:

Residential, Investments, Resort Properties

View Kevin’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on October 22, 2011 in Gay Realtors

Featured Gay Realtor: David Dorman, Century 21 Professional Group Inc, Orlando, FL

Gay Realtor David Dorman

I specialize in relocation to Orlando and it’s surrounding areas!

I have been an Orlando resident since 1985 and an agent since 1999. I am the only agent in the area to be asked to be a member of the Professional REALTOR Council. I am well known in the community for my charitable efforts and giving back to the community. I take great pride in my job and have been recognized for my high level of customer service both by CENTURY 21 and my peers.

I work all over Central Florida and sell in all different price ranges. There is no home too big or too small. I am a people person and unlike many other local agents, I will answer your call or respond to your email in a timely manner. Communication is important and in my book, being responsive is a show of respect.

I have helped hundreds of gay men and women relocate to Orlando, and I am proud to say many of them have become great friends. I do my best to help them not only with finding or selling their homes, but also helping them adjust to their new community! I look forward to assisting you!

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

GRI E-PRO VIP Relocation CENTURION Producer 2004-2010 Member Professional Realtor Council Voted Orlando’s favorite Gay Realtor 2007, 2008, 2009,2010

Specialties:

First time buyers, High end homes, Condos, New Construction, Relocation

View David’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

manager@gayrealestate.com

Posted on October 20, 2011 in Gay Realtors

Featured Gay Realtor: Mark Minelli, Realty One Group, Inc., Las Vegas, NV

Las Vegas Gay Realtor Mark M

As a resident of Las Vegas for over 10 years I have seen the city change. As a full time agent, I want to make the sale or purchase of your home as worry free as possible. Prior to real estate I was a territory manager for a company handling business development and marketing for a multi million dollar region. I have a do whatever it takes attitude and will handle your transaction with agressive negotiation, patience and integrity. The best compliment I can receive is when others tell me I am not like other agents. I enjoy what I do and my passion is your gain.

Click here to search for a gay or lesbian real estate agent anywhere in the country.

Professional/Personal Distinctions:

NAR, National Association of Realtors, GLVAR, Greater Las Vegas Association of Realtors, MLS, Multiple Listing Service

Specialties:

Listing and marketing your home. Buyers both investment as well as first time. I love “Old Las Vegas” as well as Condo Conversions, Luxury Condos, Single Family homes and vacant land.

View Mark’s Complete Profile & Contact him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com

Posted on October 18, 2011 in Gay Realtors

So what exactly is a short sale?

What is a short sale?

In today’s economic crisis and down real estate market this is a term that comes up a lot. But what exactly does it mean? In simple terms, a short sale is a tool that is used by banks and borrowers who have come on difficult times, as an alternative to foreclosure when a borrower cannot repay their loan.

When a homeowner takes out a mortgage loan to purchase their house, they agree to pay a certain sum of money, known as the principal. This principal balance is paid over the course of 15, 20 or 30 years plus interest.

In the event the homeowner is unable to, or stops making their mortgage payment, the bank, or lending institution will start the foreclosure process. The bank will always give the homeowner along the way several opportunities to pay the back-owed payments, and stop the process. In the event the homeowner cannot catch-up their payments, the bank will proceed with the impending foreclosure.

At this point homeowners have a few options to consider.

  1. They can simply wait for the bank to take their home or walk away from it.
  2. They can try to get a loan modification, where the bank will change the condition of their loan and either lowers the principal amount owed, the interest rate they are paying, or the term of the loan and thus lowering their monthly payments to an affordable amount.
  3. They can give the property back to the bank (known as a deed in lieu of foreclosure) or
  4. The final option is that the bank can authorize a “short sale.

A short sale is an agreement by the bank to allow the borrower to sell the property at a discounted price.

The homeowner will hire a real estate agent and put the house on the market just like any other sale, except the home will be priced according to current market value and conditions, which is typically much less then the homeowners owes on their mortgage. Buyers will come and tour the home and make offers.

In the end, the bank will have to approve any “short sale” offer made by a potential buyer before the sale can continue. Once the bank has made that agreement, the property can be sold just as it would normally.

The bank is essentially agreeing to accept the purchase price as a payment in full on the loan that is owed. It frees up the borrower to walk away from the property without a foreclosure on their credit, and it keeps the bank from having to take the property back.

It’s my opinion that a short sale is a better option than a foreclosure, as you’re cooperating with the bank in selling a home they loaned you money on, that you can no longer afford ~ short sale or foreclosure, expect your credit to be damaged.

Additionally, it’s important as part of the short sale agreement, that the bank agrees not to come after you for the “short payoff”… in some cases with foreclosure or short sale, the bank may attempt to collect from you the negative balance and or 1099 you for the “gift”, which you’ll pay taxes on.

Always consult a professional REALTOR® and or tax and legal professionals that are experienced in “short sales” to analyze your best options. 

Author Jeff Hammerberg is the Founding CEO of www.GayRealEstate.com ~ Free Instant Access to the Nation’s Top Gay, Lesbian and Gay Friendly Realtors Coast to Coast.

Posted on October 18, 2011 in Uncategorized