Posts Tagged Buyers Agent Representation
This Beaverton real estate agent is now a certified Short Sales and Foreclosure Resource.
Posted by Danny in Brokerage, Short Sales and Foreclosure on March 8th, 2010
I have just earned the National Association of Realtors certification as a Short Sales and Foreclosure Resource. This specialized training has prepared me to provide better service to my clients when seeking to purchase short sales or bank-owned properties. It has also improved my skills to help clients look to other avenues that may help them keep their home. If that is not an option, I am can provide assistance to determine if a short sale is a viable alternative to foreclosure.
Financial institutions are not in the business of holding and maintaining real estate properties. They would prefer to have these properties sold. Foreclosure auctions rarely offer the best prices for buyers and seldom provide any access to inspect the properties before the auction. Once a property fails to sell at auction, it is then called bank-owned or REO. Beaverton, Portland, and otherwise throughout Oregon, real estate markets now contain many bank-owned properties. They typically listed at better market prices than comparable properties, but purchasing from banks has certain disadvantages.
Purchasing a short sale property provides the opportunity to buy a home at competitive current market prices while helping an owner that is facing the threat of losing the home to foreclosure. The seller may be more responsive to buyer concessions than the holder of a REO. Despite a common short sale myth, the bank with the lien on the property is not a party to a purchase transaction. Approval of the original lender is just another contingency for the sell to be completed.
As a real estate agent listing a short sale property, I insure that all possible steps have already been taken for the lien holder and any other lenders with an interest in the property to approve a reasonable offer after the buyer and seller sign a purchase agreement.
If you have any questions or interests in short sales or foreclosed properties or know a home owner that I may assist, please contact me at 503-267-8370 or at dannyshepard@oregon.
Aloha new construction open homes this Saturday
Posted by Danny in Listings, Open houses, financing on February 24th, 2010
4088 SW Moniker PL, Aloha, 97007
I am holding open houses for three new construction homes in Aloha this coming Saturday, February 27th from 1:00 to 4:00 pm. They are located at 4033, 4072, and 4088 SW Moniker Place, Aloha, 97007. This is the last weekend before the sellers take the homes off the market!
These new homes have two different floor plans, ranging in size from 1,414 to 1,512 square feet with prices listed at $221,900 to $225,900. Each of these two story homes has four bedrooms and two bathrooms on the second story and a partial bathroom on the main floor.
For qualified buyers, Key Bank has 100% financing available. These homes are perfect candidates to take advantage of the extended and expanded home buyers tax credit of $8,000.
For more information, see them on:
If you have any questions regarding these homes or any West Side real estate, or would like to see a house outside of open house hours, please call me at 503-267-8370 or email me at dannyshepard@oregonfirst.com.
Portland-Metro real estate market conditions for February 2010
Posted by Danny in Monthly newsletter on February 17th, 2010
We just adopted a cat from the Oregon Humane Society. His name is Cougar. After a month in a shelter, he really seems to appreciate our home office as his starting room and to explore the rest of our house. He is also looking forward to trying out the deck. We appreciate having two floors with a baby gate on the top and bottom of the stairs, making it easier to introduce him to our other cat Gracie Joy. Did we have these features in mind when buying our home or baby-proofing it? I would have to say no.
In other news, my mother-in-law has just begun a three week visit. She has so far enjoyed sharing the room with Cougar. I am glad to continue sleeping in my own room during her visit. During the Valentines/Presidents Day weekend, we celebrated our love and patriotism by finishing the conversion of the home office to a guest room with office functionality. Meanwhile, the second office desk has been moved into our master bedroom. The idea is that neither desk is personalized and therefore usable for either my wife or I as needed. Mackenzie continues to enjoy a bedroom without a desk or work, though she is showing a lot of interest in both. You do not always have to change where you live to change how you live, but I am here to help if you want to buy or sell a home.
The Portland-Metro real estate market activity improved last month over the same period a year ago. Closed sales were up 34.7% versus January 2009 and pending sales increased by 24.3%, but new listings dropped by 6.2%.
Comparing last month to December 2009, pending sales were up 34.5% but closed sells fell by the same percentage. New listings increased by 87.1%! The drop in closed sales combined with the rise in new listings increased active inventory, which is calculated by dividing the total number of active listings for a month and dividing it by the number of closed sales. It would take about 12.6 months to sell the 12,449 active residential listings.
Sale prices for last month were down compared to January 2009 by 5%, and the median sale price also decreased by 4%. January 2010 sale prices were also down when viewed against December 2009 with average prices dropping by 3.7% while the median price slightly decreased by 0.9%.
If you are in the market to purchase a home, now is the perfect time to buy. There are plenty of properties available, sale prices have continued to drop, and interest rates are low. Additionally, if eligible, the extended and expanded home buyer’s tax credit is available if in a purchase contract by April 30, 2010 and close by June 30, 2010.
Would you like to receive more detailed information about?
- Realtor services?
- The extended and expanded home buyer’s tax credit?
- Interest rates?
- Your neighborhood or neighborhoods of interest?
Please contact me at:
dannyshepard@oregonfirst.com
503-267-8370
All statistics listed are quoted from the January 2010 issue of RMLS Market Action. The Regional Multiple Listing Service releases the previous month’s statistics near the 15th of the current month.
Tax credit information provided by the IRS at http://www.irs.gov/newsroom/article/0,,id=215791,00.html?portlet=7
Additional tax credit information provided by the National Association of Realtors FAQ on Homebuyer Tax Credit Changes, available on request.
Portland, Oregon, and National realtor associations information has been added to this site.
Posted by Danny in Brokerage, Real estate on January 25th, 2010
My links section now contains the official websites for the Portland Metropolitan Association of Realtors, the Oregon Association of Realtors, and the National Association of Realtors. Beyond being professional real estate sites, each provide useful information and content for home buyers and sellers.
If you have any questions concerning their content or why I am a member of these professional realtor associations, please post a comment or contact me at:
dannyshepard@oregonfirst.com
503-267-8370
Buyer Agent Representation
Posted by Danny in Brokerage, Mortgages, Real estate on October 26th, 2009
What is buyer agent representation? Why would someone buying a home want a real estate agent to represent them? How much does it cost?
Buyer agent representation is when a real estate broker assists and represents a buyer in a real estate transaction. Representation is agreed upon in a written contract between the buyer and agent. A Buyer’s Agents performs many duties, including: helping buyers identify what their wants and needs are, locate and show properties that will fulfill their wants and needs, submit and negotiate the best possible offer to the seller on behalf of the buyer, help the buyer evaluate counteroffers, perform all communications and follow-up inquiries with the seller, and inform buyers of any actions that are needed to insure the transaction closes as smoothly as possible. Other duties of buyer agent representatives include educating buyers on: the real estate market, financing, trends, neighborhoods, and providing informational sources on these and other topics. A buyer’s agent may also suggest a list of potential real estate service providers, such as lenders and home inspectors; but not to select service providers without expressed consent from the client.
A real estate agent is more informed than even the most determined and motivated buyers. Certainly, buyers should educate themselves, but they can only benefit by having a real estate professional working for them. An agent representing a buyer works exclusively for the buyer’s benefit. Any real estate agent in Oregon should provide a pamphlet from the state that defines an agent’s duties and responsibilities in representing buyers and sellers.
Finally, a buyer seldom needs to pay for the services of an agent to represent them. That is correct. The cost of services is typically free, to the buyer. Sounds too good to be true? This is because the selling agent is typically willing to split a portion of the commission received by the seller at closing. This amount is predetermined, typically by percentage of commission, and is provided as part of the listing information on the home for sale in the multiple listing service. By cooperating with the selling agent, he or she is willing to pay for the buyer’s agent for the services. The buyer’s agent conducts all business on good faith and duty as required by personal integrity and real estate law, but only owes loyalty to the buyer that the agent represents.
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