REAL ESTATE NEWS OCTOBER 1999

Your REALTOR:
Bonnie Fagoh
October 1999
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 1999 Realty TimesAll Rights Reserved.
Be a No-Show At Showings I t's 6:30 p.m. on a lazy Sunday evening. You've finished dinner, washed the dishes and settled in front of the television, when the telephone rings. Your real estate agent has an opportunity to show your home to an out-of-town buyer who's stopping by a few more properties before catching a late flight out of town. Should you hang around while the buyers go through your home? Or should you head out for a frozen yogurt or take the dog for an extra walk? Unless you have a reason to distrust your agent, making yourself scarce and letting him or her show your home is probably in your best interest. Here are a few reasons why: 1. Buyers are uncomfortable when the seller is present. Remember how you felt when you
Mortgage RatesNational averages as of September 30, 1999:
30 yr. fixed: 7.59%15 yr. fixed: 7.25%1 yr. adj: 6.20%
Get today's rates
were walking through other people's shopping for the one you decided to buy? You probably felt a bit intimidated or reluctant to spend much time in a home when the seller was at home. If you clear out, prospective buyers will be more inclined to give your home their full
CONTINUED >>>
Wondering What Your Home Is Worth?Let me show you.
Sellers' Tips: The Home Inspector's Coming Y our home is in escrow, and the buyer has scheduled a home inspection. Should you be worried about what the inspector might find? The answer depends, of course, on the condition of your home and how well you've maintained its major components over the years. Regardless of what the inspector may uncover, however, you shouldn't be overly concerned about the actual home inspection. Keeping in mind that disclosure laws and customary real estate practices vary from place to place, here are six suggestions as to how you might help the home inspection process go smoothly: 1. Leave the premises.It's perfectly reasonable to absent yourself from your home during the home inspector's visit and turn over the duties to your real estate agent. Your agent should be familiar with the home inspection process and able to act as your representative. In fact, many listing agents prefer that the seller not be at home during the buyer's home inspection. 2. Be courteous.Some sellers mistakenly assume the home inspector is an adversary. Experienced professional home inspectors aren't on a mission to
CONTINUED >>>
Are You Ready To Buy? S uppose you're shopping for a home. You've found a terrific real estate agent, who comes highly recommended, really knows the market in your preferred neighborhood, is a sharp negotiator and has an action plan to help you find a great home. In a hot market, though, having the best agent in the world can't get you past one obstacle - your lack of preparedness to buy. If you are tired of having other buyers' contracts accepted over yours, or missing out altogether on homes that hit the market and are quickly put under contract by someone else, it may not be your agent's fault, but yours. Maybe it's time to ask yourself - How badly do you want to buy a home? You may be sending mixed messages to your agent, and you may be getting inconsistant results as a consequence. If you want your agent to really work hard for you, then be a client who is ready to buy. People who are ready to buy demonstrate their preparedness in the five following ways:1. They get preapproved for a mortgage. Buyers who haven't demonstrated their financial ability to purchase a home won't be a high priority for most top agents. That's why a simple loan preapproval letter, preferably from a well-respected local mortgage broker, is a must. A prequalification letter is helpful, but not nearly as strong a motivator as a preapproval letter. 2. They are loyal. Agents admit they work harder for loyal buyers. Don't work with multiple agents in one area at the same time. If you decide to switch
CONTINUED >>>
Will Y2K RaiseYour Mortgage Rates? L ike the hula hoop and pet rocks, fads come and go, including -- we hope -- all the end-of-the-world visions associated with the Y2K computer glitch. Alas, and doesn't it figure, the latest Y2K victim may well be mortgage rates. The Washington Post and New York Times report that loan rates worldwide are rising in part because corporations are now borrowing more than usual so they will have cash in case there's a run on the banks at the end of the year. (See in the Post, "Rates Rise With Y2K Awareness," Sept. 2, 1999, and in the Times, "Facing 2000, Companies Stock Up on Money," Sept. 5th) If big companies are now borrowing more just to be on the safe side, then there is less cash available for other purposes, and so those worried about a lack of legal tender around New Year's Day are right. In effect, worries about a Y2K cash shortage are being translated into a self-fulfilling prophesy -- and also into higher mortgage rates because fewer dollars are available for mortgage products. In fact, excess company borrowing is real and it is a potential -- if short term -- problem. The Federal Reserve Bank of New York, for example, lends money overnight to banks
CONTINUED >>>Local Market Conditions
Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles

September Roundup: 1999 Sales Still Going Strong

Getting a Mortgage After Bankruptcy

Dealing With Clouds On Your Title

What a Difference A Door Makes

'Slash Your Debt' With Home Equity Consolidation

Trend Talk: New Notes on Colors
Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: WWW.TAMPACOASTALHOMES.COM 813-390-7606
Century 21 Beggins Enterprises813-390-76066542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
Equal Housing Opportunity


Previous Newsletters:
" + months[this_month - 1] + " " + this_year);
for (n = (this_volume - 2); n > (this_volume - this_sequence); n--){
this_month--;
if (this_month == 0){
this_month = 12;
this_year--;
}
window.document.writeln( "" + months[ this_month - 1] + " " + this_year);
}
// -->
September 1999August 1999July 1999June 1999May 1999April 1999March 1999February 1999January 1999December 1998