Archive for the 'Resources for Buyers' Category
EXIT PRO REALTY EXPANDS TO BELLA VISTA
Posted by Jana Robison on February 21st, 2010
Bella Vista Branch Office
Exit Pro Realty is proud to announce the opening of our Bella Vista Branch. Our office is located on the South side of Bella Vista on the Frontage road across the highway from Lowes.
Bella Vista is a chic, sleek, hot and energized community designed especially for homebuyers who crave an urban lifestyle near shopping centers and freeways while still being just minutes away from the breath taking country side.
Home shoppers this community is one of the best in Northwest Arkansas. Country Clubs, golf courses, swimming pools, lakes, tennis, hiking trails and much more. With all this you need an agent who lives and knows Bella Vista.
Come by or call one of our specialist today to visit homes in eclectic Bella Vista neighborhoods! Whether you are looking for chic and modern home designs or the serenity of relaxation it can all be found in Bella Vista.
EXIT Pro Realty’s success and unprecidented growth is directly attributed to the unmatched agent training, attention to the needs of our clients, unique beneifts for our agents and fantastic technology! Call today 479-245-7777 or visit us at 13020 Frontage Rd.
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Selling Your Home? 5 Easy Must Do Tips
Posted by Jana Robison on February 20th, 2010
Selling Northwest Arkansas
Are you thinking of selling your home? Or is your home already on the market and your just not getting the feedback you desire? In Northwest Arkansas we have a great source in Donna Schoby, Ready, Set, Stage, who has given us five great tips on things you can do when selling your home to give it the edge.
How many times has this happened to you while having your home listed? Your home shows and the feedback is not negative the new prospective buyers didn’t not like your house but there was just something……..
It’s hard for most people to visualize anything other than what they see when viewing homes, so if you have a room that serves several purposes (i.e. a home office/exercise room or a guestroom/playroom, pick one purpose, and stick with it when staging your home.
Confused Rooms = Confused Buyers
It’s hard for most people to visualize anything other than what they see when viewing homes, so if you have a room that serves several purposes (i.e. a home office/exercise room or a guestroom/playroom, pick one purpose, and stick with it when staging your home.
Things To Do:
• Keep in mind that master bedrooms are for sleeping and relaxing, not for ironing, exercising, or gift wrapping. Make sure your master shows the potential buyer this will be a great place to unwind and relax.
• Remember that the dining room is one of the first rooms the buyers will see. Be sure to stage it as only a dining room, and not a craft area, study or catch all for toys and homework papers.
• Remember that the garage’s primary purpose is for parking cars. Empty the garage as best you can and show that at least one car can be parked in there.
• If you have a large space that has different purposes (i.e. a game room that serves as a play area for kids and a scrapbooking area for mom, set up clear zones to delineate the t.v. viewing area, the craft area, the game playing area, etc.
If you would like for Donna to come out for a one on one with you give her a call today Donna Schoby
Ready, Set, Stage! 479-236-6784 
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2705 OSAGE DR SPRINGDALE PRICE REDUCTION!
Posted by June | Micky | Valerie on February 9th, 2010
WHAT AN AWESOME DEAL!
MLS# 593398
2705 OSAGE DR SPRINGDALE, AR
This 3 bedroom, 2 bath home located in south Springdale right off Business 71 giving you easy access to not only Springdale but to Fayetteville and Johnson as well! The owners have given the entire home a makeover that is neat as a pin with fresh paint and spic n span floors. There is a fenced backyard that is huge. Let’s take a peak inside this totally remodeled home to see just how the homeowner made it move-in-ready for you!
Neat as a pin in well established neighborhood
Dining area off kitchen with access to a large fenced backyard
So neat and clean you could eat off the floors in this kitchen!
Very large main bathroom
Very large fenced back yard with established trees
Utility room off the dining room/kitchen area
Bedroom
Hallway leading to bedrooms and extra storage
Call about this great home today!
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Great Foreclosure Ebook Plus 4 Terms to Know When Searching Out Foreclosures in Northwest Arkansas
Posted by Ben Roberts on December 8th, 2009
Based on current trends in our client searches on our websites as well as the massive success of NWAforeclosurelist.com, it seems pretty obvious that one of the main things buyers are searching for is foreclosed or distressed properties. If you are one of those people (and if you found this article, you are) searching for foreclosed properties in Northwest Arkansas, here’s 4 Terms that will be invaluable in your quest to get a good deal…
Corporate Addendums…
You’ll often see these two words on a listing sheet somewhere. This means the property is owned by some form of corporate entity whether it be a bank, fannie mae, hud, or some other corporation. These two words should me a couple of things to you…
- It’s probably a Good deal. Yes, most properties that are listed and owned by a corporation tend to be under market value. I said MOST. Be careful.
- It’s probably going to be a hassle. Just prepare yourself for this eventuality and it won’t stress you out nearly as much. Corporations like to use their own documents, their own timetable, and their own way of doing things. This leads us to our next term…
REO
Those three letters stand for Real Estate Owned and to a buyer, they basically mean the same thing as Corporate Addendums. REO’s are not foreclosures even though people use the terms interchangeably. An REO can only exist after a home has been foreclosed on and taken back by the bank. REO properties are generally priced at or below market value. If you have a good Realtor keeping an eye on new listings that pop up you can snag the great deals as soon as they hit the table.
Foreclosure
A foreclosure, more specifically, a foreclosure sale, is when a bank attempts to sell a property to cover the outstanding balance on the mortgage plus expenses and attorney fees. Most properties that are foreclosed on are worth less than the note that is on the property (under water), so foreclosure sales are generally less successful than a typical REO sale. Investors tend toward foreclosure sales because they will usually allow the previous owners to become the new renters, thereby getting a good start in cash flow for the rental property.
Underwater
This is the term used when someone owes more on the property than it could currently be sold for on the open market. This happens when people take out high loan/value ratio loans on properties, then values fall, resulting in more being owned on a property than it’s worth.
There was a recent study done that showed (as of the end of June 2009) that 24% of owner-occupied homes had mortgage debt that exceeded their value according to Economy.com.
There are many other terms and things to understand about Foreclosures, REOs, and other forms of distressed properties. This article barely scratches the surface.
If you are a serious buyer and want a great 60 page e-book all about buying foreclosures… Give us your email address below and we’ll give you a free copy. Thanks for reading.
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EXIT Pro Realty Launches NWAforeclosurelist.com – Did You Get Your List?
Posted by Ben Roberts on December 2nd, 2009
We at EXIT Pro try to keep our fingers on the pulse of what people want. You want a great, no hassle website where you can find real estate info… got it. You want to connect easily and transparently with your real estate company… check. Now you’ve asked for something else… a simple, no hassle list of the hottest properties available in Northwest Arkansas… done. Check out NWAforeclosurelist.com and get your free custom list today.
There’s not much to it. Enter your info and the zip code you want properties from and you’ll get it within 8 business hours… a custom foreclosure and short sale list of the hottest deals in Northwest Arkansas. No strings attached.
We’re offering this service for two simple reasons:
- To connect buyers to great properties
- To have those buyers contact us when they need more information, to schedule a showing, or to write a contract.
That’s it. Head on over and get your list now.
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20 Questions You Gotta Answer Before You Go House Hunting
Posted by Ben Roberts on November 23rd, 2009
Searching for the perfect home can be time consuming. Very time consuming. Since we all have work, family, and a social calendar to keep while looking for homes, here’s 20 Questions You Gotta Answer Before You Go House Hunting. If you know the answer to all these questions, you will be able to easily eliminate homes that don’t meet your criteria… leaving only the cream of the crop for you to spend your time on. Check ‘em out.
20 Questions That will Save you Major Heartache and Time
- If the perfect home presented itself, are you in the position to buy it. If not, what would need to happen before you were in the position to buy it?
- What is the most money per month that you think a bank would qualify you to make a payment?
- What do you think you’re current home would list and sell for?
- What in your current home would you like to change?
- What features in your current home or a friend/family member’s home would you like in your next home?
- What style do you love? Not like, love.
- Do you prefer single story, two-story, or multi-level living?
- Do you want/need a yard?
- Are you looking for a maintenance free lifestyle?
- How many bedrooms?
- How many baths?
- What would be the most compelling reason for you to purchase a particular property?
- Which of the amenities you’ve mentioned would be nice to have but not necessary?
- Who helps you make real estate decisions?
- Who else will play a role in making your final decision?
- What are the most important appreciating characteristics to you?
- What is the minimum square footage you can live with?
- What features and benefits should a great real estate agent provide?
- How easy or hard is it for you to put together money for a down payment? What is the maximum down payment you could afford for a home that meets all your needs?
- How do you like to view/search for homes? Internet or in person? With an agent or drive by? Appointments or Open Houses?
If you can answer these twenty questions… (and you may want to write the answers down for reference) then the agent that you choose can direct you to a list of perfect homes for you to look at that are already qualified with these parameters in mind. It saves everyone valuable time and you’ll get much less frustrated with the process of home buying. Give us a call at (479) 636-7777 if you need help determining the answer to any of these questions or if you’d like to view some home you saw using our home search.
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Can I get the 2010 Home Buyers Tax Credits?
Posted by Mel Reed on November 10th, 2009
OK, you have heard by now that congress has passed and the president has signed the bill that extends the tax-credits for home buyers. It is what it is, and it may help with the sale of homes in the marketplace, it may just be postponing the inevitable market correction. But, hey, it is here and we can use it, (maybe). There are still some qualifiers, and if you are considering the purchase of a home, anytime soon, it is great to have options!
The following is a summary of my understanding of the 2010 program. Listed are some major points that may help sort through the details.
$8,000 First-time Home Buyer Tax Credit Major Points:
- The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The tax credit applies only to homes priced at $800,000 or less.
- The tax credit now applies to sales occurring on or after January 1, 2009 and or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
- For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
- For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
The $6,500 Move-Up / Repeat Home Buyer Tax Credit Major Points:
- To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’’s purchase price up to a maximum of $6,500.
- The tax credit applies only to homes priced at $800,000 or less.
- The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by May 1, 2010, the home purchase qualifies provided it is completed prior to July 1, 2010.
- Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
So there you go, hope this helps. Let me know if you need the help of a professional.
The REED-able quote of the day is: “Promises Kept, are what Successful Business are Built on”
Many Blessings – Mel Reed
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How Can We Help You?
Posted by Larry Robison on November 10th, 2009
Thank you for visiting our website. Simply put, how can we help you? Are you in the market for a new home, possibly interested in taking advantage of the just approved tax credit? Looking to sell a home? Commercial property or lease? Please give us a call. We will help you have an enjoyable experience no matter the direction you choose.
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9 Tips for Northwest Arkansas First Time Home Buyers
Posted by Ben Roberts on November 4th, 2009
Congratulations! You’re buying your first home! It’s always exciting when you’re buying a home… especially your first one. It can also be filled with a bit of anxiety and uncertainty. Here are Nine Tips and Steps to take if you’re a Northwest Arkansas First Time Home Buyers… Read the rest of this entry »
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Agency and Real Estate. How it Works in Arkansas.
Posted by Ben Roberts on October 26th, 2009
Ever wonder why they call us Real Estate Agents? Lots of people do. This article is about agency and real estate and how it pertains to you, the buyer or seller of a home. Many people go through the entire process never really understand how their agent represents them or what duties they have. This is important stuff so let’s get crackin’…
Agency in Real Estate… Who do Agents Represent?
Arkansas law requires real estate agents to clearly disclose to all parties in a real estate transaction which party(s) he or she is representing. Real estate agents typically represent Sellers but can also represent Buyers as well as both Buyers and Sellers in the same transaction (disclosed dual agency).
An agency relationship in real estate creates a fiduciary and ethical duty for the agent to act on your behalf and in your best interest. A fiduciary duty is legal requirement of loyalty and care.
Seller’s Agent
A Sellers’ Agent represents the Seller to protect and promote the interests of the Seller. Any information given to the Sellers’ Agent by another party must legally be given to the seller to further promote their interests. This means that if a buyer does not have representation (as in when you call a yard sign and talk to the listing agent) any information you share can and may be used against you in the transaction. Needs, motivations, financial information, an negotiating strategies are just a few of the issues that can be shared with a seller after a conversation with an unrepresented buyer.
Buyer’s Agent
Smart Buyers hire real estate agents for two reasons.
- Someone is paying a commission on the buyer’s side either way… you might as well get representation for it.
- People have neither the time nor understand of how to go through the complex search, negotiation, and closing process of home buying.
A Buyer’s Agent does the same thing as a Seller’s Agent… but for the Buyer. Try to keep up with me now. The same thing holds true in this situation. If a seller is unrepresented in a transaction (as in a property for sale by owner), the Buyer’s Agent has a duty to tell their client any pertinent information the Seller discloses about price, negotiating strategy, terms, concessions, and the Seller’s financial situation.
Are you getting the idea that it is good to be represented on either side of the transaction?
Dual Agency in Arkansas
I say in Arkansas because not a whole lot of states still offer Dual Agency. It isn’t something to be scared of though. In fact, it can make a transaction go remarkably smoothly. You are cutting out part of the process. Dual Agency actually happens any time the same firm represents the Buyer and Seller in a transaction. It doesn’t even have to be the same Agent in the firm. Both Seller and Buyer much give their written consent to be in a Dual Agency situation.
In Dual Agency the Agent becomes a ‘facilitator’ of the transaction. They still cannot disclose confidential information from one party to another but take steps to make the transaction flow smoothly and mediate any conflicts or concerns during the closing process. Realize that a Dual Agent generally gets both sides of the commission, resulting in a much higher income for the work done. This is why Agents in Arkansas like Dual Agency and will work hard to make a transaction where it exists work for all parties involved.
If you are not comfortable with Dual Agency you have a right to separate representation from the other party to the transaction.
Why You Sign on the Dotted Line
Agency is meant to help you and protect your interests as the Seller or Buyer. I talk with some many Buyers who “don’t want to be tied to one Realtor” and Agents who “can’t give the buyer a good enough reason to commit.”
Here’s what I have to say to that…
Buyers – What are you talking about? When you sign an Agency Agreement with a Realtor they are now your employee. They work for YOU. If you just go around asking Realtors to find you a house they:
- Aren’t going to take you seriously
- Will do a half-A**ed job
Why? Because they have no guarantee that they’ll get paid if they do find you a house.
Realtors – If you don’t have a good reason to get a Buyer or Seller into an Agency Relationship with you then you don’t understand Agency in Real Estate. Explain to the Buyer:
- I will work harder for you knowing that we have a committed Agency Relationship in place.
- I am legally bound to look after your interests and needs in regards to purchasing a home.
- You can dissolve our Agency relationship at any time if you feel I am not the Agent for you.
If one through three aren’t reasons enough I would wonder who the heck you are trying to represent. Seriously people. This is why the general public doesn’t take Real Estate seriously as a profession. You have to be professional. Part of that is making sure you are in an Agency Agreement with the party you represent.
If you need to know more about Agency, have a story or opinion to share, just leave a comment below or contact me. Thanks for reading.
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