THE MARSHALL REDDER HOMESELLING SYSTEM - ***** FREE REPORT *****

MARSHALL REDDER & ASSOCIATES REALTY is pleased to provide you with this free information, and hope that it helps making one of the most important decisions of your life––buying your home.

TAKE APPRAISALS WITH A GRAIN OF SALT. Appraisals don’t measure value, do not determine a properties worth, and are essentially, just one person’s opinion. Appraisals are market information - not necessarily real estate values. Keep in mind the date of the appraisal, date of comparable sales, and any other factors, including your opinion of the home.

KEEP FEATURES IN PERSPECTIVE. OK, you loved the hot tub, swimming pool, kitchen, paint job, BUT evaluate the more important basics such as lot size, neighborhood, floor plan, square footage––things that are much harder to change or replace. Ask yourself how easily the feature you liked can be added to any home, and what you really would value in your living space.

YOU DID YOUR RESEARCH, AND STILL MAY PAY TOO MUCH. Selling price is only part of the story when comparing sales history. The following factors can inflate the value of the home: loan points and fees, certain home improvements, personal property left with house, certain types of financing––its a long list. Some sellers provide overinflated financing to entice the buyer and they overpay for the privilege of obtaining below market cost. Buyers and sellers acting on their own often pay too much or sell for too little––either way, its money out of your pocket.

A PICTURE DOESN’T GET IT. Looks good, now what? This is an investment you will live with for many years - how integral is it to your life-style? Do you fit in with the neighbors, and what is located around you? Think about future shopping centers, schools, changes in the character of the neighborhood. What about weather and travel time to work, friends for your children, quiet older people––what will it be like 10 years from now?

CHECK THE PULSE; WALK THE AREA. You’ll find out if the residents are friendly, their occupations, changes in community and new developments. Find out the moving/staying ratio, and ask what the residents would like changed in their immediate community. Walk more than once if possible and at different times– –you’ll learn a lot, and can now make an informed decision.

“CURB APPEAL” IS A START, BUT LOOKS ARE NOT LIVABILITY. Your home has to meet your needs and life-style. Check the floor plan, consider convenience and accessibility. How’s the water pressure, hot water, heating/cooling system, and is their room for privacy and gathering spots. Picture your furniture, and your family in that house on different days and times, imagine the TV on and dishwater going; then add the good looks and your changes––now you are beginning to get an accurate idea of whether a nice house can become your home.

AGAIN, FOCUS ON THE NEIGHBORHOOD. Be picky and do this when there is the most activity––after dinner probably or weekend. Do the homes show signs of neglect or disrepair? Any remodeling/improvements in progress? Do you get the feel of pride of home(s) in the neighborhood. Are parks and public places clean and well maintained? Landscaping? Any pileup of cars, noises, odors––anything you observe that would make you uncomfortable or that you just couldn’t live with?

BEST INVESTMENT - A PROFESSIONAL INSPECTOR. For about $250, a licensed contractor knows exactly what to look for, can identify problems in the early stages, and tell you what to expect or watch for in the future. The home inspector evaluates homes each day, and will take financial responsibility for any mistakes he makes. You can use his information as a negotiating tool to reduce price, have improvements made, lend credibility to a possible complaint, and keep you from getting stuck with a LEMON.

SAVE COSTS; GET AN AGENT. Over the past several years the real estate purchase contract has gone from 1-4 pages to 8, with additional addendum’s for special circumstances and area. Forms to discuss property defects, disclosures, procedures––all necessary in today’s litigious environment––point to a professional for the smoothest process and your best dollar value. An agent can make sure all parties comply with necessary procedures, legal requirements, ensures accountability within the sale to protect all parties involved, and save you money.

GET TO KNOW THE SELLER. Why are they selling? Are they open or inaccessible? Understanding them can open opportunities, trade-offs, shared information which can benefit both the buyer and the seller. Establish a relationship, tell them about yourself and family. Inquire, don’t interrogate. Compliment, don’t criticize. You actually could save money, if the seller can put a face with the offer, and it certainly will effect the way your offer is considered.

OPTIONS OPEN / EMOTIONS IN HAND. You love the house and tell yourself “It’s perfect and we have to have it”. WRONG. Don’t set yourself up to overpay for the home, get frustrated and disappointed when things don’t work out; don’t let the seller know you ABSOLUTELY LOVE THEIR HOME. There are many other options, there are certainly more homes, and if you keep your options open, you can have it all.

USE PRICE TO YOUR ADVANTAGE. If price is the seller’s main concern, then give a little on price, and go for everything else you want. Use concessions like closing costs, home improvements, you like the furniture or appliances - ask for them. Recognize a broader range of wants, needs, trade-offs, opportunities to negotiate a win-win situation.

DUO-PURPOSE; YOUR HOME IS AN INVESTMENT AND PERSONAL RESIDENCE. Balance your personal living space with desirability to future buyers. Consider marketability and future appreciation, and take into consideration your heart, mind, and pocketbook.

GET A BUYER’S AGENT. You need an agent to represent your interests exclusively. When you contact the listing agent from an ad, yard sign, or open house, this agent works for the seller and has a responsibility to represent their interest. Get a buyer’s agent.

WARNING SIGN: FOR SALE BY OWNER. You expected a ”good deal” and just might become a bargain hunter who is hoodwinked into an overpriced property while believing you got a bargain because you saved agent fees. Owners often sell their home themselves because they need that additional money for themselves - not to give the buyer a good deal. They don’t have an accurate concept of market value. The accountability and disclosure(s) you would take for granted if a professional real estate agent represented your interests, isn’t guaranteed.

30 YEAR FIXED RATE MORTGAGE - CAN YOU DO BETTER? Get your loan tailored to your specific situation and housing needs. Will you sell your home within the next 7 years? Do you expect your income to increase? What’s most important to you; protecting your equity or keeping your payments affordable. Today’s financial market has huge flexibility and range of interest rates, decide your priorities and get the best program available for you rneeds.

SAVE $28,000 IN INTEREST PER $100,00 BORROWED. Working with Marshall Redder & Associates Realty and Marshall Redder Home Mortgage Corporation ensures you a “wholesale rate” loan. You save 3/8% interest on a 30 year loan or $28,000 per $100,000.

OBTAIN A LIFE INSURANCE POLICY = TO THE VALUE OF YOUR HOME FOR FREE. Your real estate agent can provide more services than finding your home - ask about the program including this benefit - ITS FREE.

REDUCE THE DOWN PAYMENT ON YOUR HOME BY 50%. Negotiate with the seller to pay the closing costs, which in many cases, reduce your capital investment by as much as 50%. Raise the purchase price to cover these expenses. Do this by getting an agreement from the seller, then go back and increase the purchase price to cover your closing costs. The seller will net the same amount from the sale, and in most cases, won’t mind paying the closing costs. The lender has certain restrictions in the amount that the seller can pay, but often this is equal to the minimum down payment required.

VETERAN PLUSES. Veterans can have the seller pay credit cards, car loans, and installment loans as part of the purchase of their home. For example, a veteran can buy a home for $150,000 with no money down. The seller can pay the closing cost and $4,000 in credit card bills or car loans. The veteran can have the seller pay for the first year property taxes, insurance, and even the first mortgage payment. The Veterans Administration’s commitment to promote home ownership gives the vet the best deal in town!

FIRST TIME HOME BUYERS PERK. Take advantage of the Mortgage Credit Certificate (MCC)––a tax credit program which pays 20% of the mortgage interest in the form of a tax credit. That amount gets deducted from the mortgage payment for loan qualification, which, included with the normal interest deduction that all home owners receive, provides a special benefit worth up to three times the normal interest deduction. Certain restrictions do apply, so check to see if you qualify.

DOWN PAYMENT ASSISTANCE PROGRAMS. These programs provide low or no interest rate loans with no payments for the down payment on you home. These loans will be paid back upon the sale of your residence. Designed to provide assistance for those who need it, actual percent of down payment and qualification varies––ask us about participation.

BUY FORECLOSURES WITH $500 DOWN AND FIX-UP MONEY. This is the opportunity to purchase homes through the Housing and Urban Development branch of the federal government with a certificate for $500 down. These available properties include repossessions and foreclosures which are available in most communities. In addition, the cost to improve, remodel, or add to the property can be included in the purchase price. Let us know if you would like us to check this for you.

GET PRE-APPROVED AND HAVE THE POWER OF CASH (EVEN IF YOU DON’T HAVE CASH). By getting your loan pre-approved, you are enabled to make that offer on your next home. When your loan is pre-approved, you actually are approved as a borrower for a loan, and the only condition is the appraisal on the property you intend to purchase. This enables you to have a non-contingent sale, and a shorter escrow period which provides you a stronger negotiating position. PRE-APPROVAL should be your first step in the home buying process, so that, when you find your dream home, you know you can make it yours.

UPDATE YOUR THINKING; BUY A HOME NOW. Years ago home buyers were required to put down a large percentage of the purchase. Down payments today can be as low a 3% with the seller paying closing costs, cash rebates, wholesale loans, and other features designed to create situations where people can AFFORD TO BUY NOW. There are many special programs creating options and opportunities for home ownership. Community reinvestment, state and local subsidies, federal financing programs––you can often buy a home for less than the cost of rent.

LEASE OPTION TO BUY. Through a lease with the option to buy, you can have all the benefits of home ownership without actually owning it. A lease option will allow you to lock the purchase price for the property while you clean up your credit, increase your income, and save up for a down payment. You will pay rent as normal plus an additional amount which is applied to the purchase price. For example, a home selling for $150,000 would rent for approximately $900 with an additional payment of $300 per month credited to the purchase price. After 18 months, you would have enough credit for the down payment plus the benefit of any appreciation which occurred over that time. Of course, you have to find property owners who agree to a lease option - but in a buyer’s market there are plenty of opportunities.

IF YOU CAN BUY A HOME, YOUR BIGGEST MISTAKE IS NOT TO DO SO. The goal and dream of owning a home is within the grasp of more people than ever before. We are in a unique market in which housing prices have declined significantly, interest rates are at a record low, and the government has made a commitment to increase home ownership. Lenders have reduced down payment requirements. There are dozens of reasons to buy a home NOW; here are three which certainly apply:

Home ownership provides the safest and greatest opportunity to build personal wealth and security for retirement.
Over the course of a lifetime, home owners will spend far less money on housing than those that rent.
Home ownership provides life-style benefits that can far outweigh any financial returns.

BY ALL MEANS, be cautious, educate yourself, shop the market, get reliable advice from experts, GET A TOP-NOTCH agent working for and representing you, and pursue and purchase your home with confidence.

IF YOU ARE CONSIDERING BUYING A HOME, GETTING A LOAN,
OR WANT TO UPGRADE YOUR LIFE-STYLE AND NEED INFORMATION, PLEASE CALL US.

As a full service real estate and mortgage company, we at Marshall Redder & Associates Realty and Marshall Redder Home Mortgage Corporation, have a number of programs available, and we think these exciting packages, opportunities, and services, tailored to your unique situation will save you money and garner for you and your family a lifetime of benefits. Thank you for your interest in this report.