ADVANTAGES OF USING A REALTOR TO ASSIST YOU?

Some buyers decide to buy direct from the Realtor selling the home.  Getting assistance from a Realtor representing you does not cost you anything and it provides you with assistance that can save you $1000's.  Find out more about the way a Realtor can assist by viewing this document.

LOOKING FOR A HOME?

Our team has many years of experience finding our buyers their Dream Home. We will work with you to locate the right house in the right city home; a place you can call HOME.

The following information will assist us in making the home purchase easy for you:


Assisting with Your HOME Search - 2 Options Available
You can use a PUSH (reports sent to your) or PULL (using a tool, you search) method to find your Dream Home. If you are unsure, sign-up for both.

The PUSH option (click on the symbol to the left):

  • You contact me and provide me with home search information. I then setup an automated report.
  • You receive daily reports with new listings or updates to previously sent listings.
  • PROS: you sit back and wait with no input, the source of the information is directly from MLS database so it is the latest information, searches can be very specific with extensive search criteria, you can unsubscribe at anytime, you can define a list of favorites, good, bad, etc.
  • CONS: you have to contact me for any changes, you don't have the opportunity to explore
The PULL option (click on the symbol to the left):
  • Using tools I provide for you on this website, you create an account,
  • You can save your search information between logins and setup reports to be sent to you.
  • There is no obligation and the option to UNSUBSCRIBE is available at anytime.
  • PROS: you can change your search criteria whenever you want
  • CONS: you will have to spend more time on the internet, you may not get the most up-to-date information


Before You Make an Offer, Know the Market Value

Purchasing a home will be the largest purchase that most people make during their life time. It is important to be prepared by having a good understanding of the real estate market value prior to making an offer to purchase the property. The market value can be obtained from 1) a Realtor using a CMA (Comparative Market Analysis) or 2) an appraiser who works primarily at the request of a bank/mortgage company before they finance the purchase of real estate.

The value of a property is based on what the current market will support.  The list price is determined by looking at the sale of homes in the area of the subject property.  A CMA analyzes comparable Active homes on the market and Sold properties in the area to determine a property's market value.  The standard CMA Report is provided by the local MLS (Multiple Listing Service) used by most Realtors.  This is a very good report when analyzing a property and comparables located in a densely populated city.  It provides Sellers with a very good List Price and provides Buyers with a very good idea of the property market value. 

The MLS CMA provides the Realtor with one value for the analysis, .  It is assumed that the Realtor has selected properties that are similar and the comparison homes are located on city lots of similar size and value.  The value of the land is NOT estimated using the standard MLS report and the lot becomes part of the $/finished-square-feet number.  When comparing properties that are on larger plats of land that vary in size, the $/finished-square-feet number which includes the land value, becomes confusing and difficult to use to determine a market value.

When you want a Market Analysis for a property built on a larger parcel of land ( more than .5 acres), you need to know the value of the land in terms of $/acre.  It is almost impossible to find a property with a similar home on a similar amount of acreage especially in sparsely populated areas.  I provide a 2nd type of CMA for use with larger parcels of land allowing you to use a wider range of properties for comparison and providing an accurate value for the building and the land prices. My B/L CMA (Building/Land Comparative Market Analysis) provides 2 numbers for analysis, $/finished-square-feet and $/acre.


The differences in the 2 types of CMA reports (MLS CMA vs B/L CMA) are depicted on the B/L CMA Flow Diagram. View this example of the B/L-CMA to see the information provided by this detailed report.


A brief description of the CMA's follows:

The standard method of determining a home's market value in preparation for making an offer on a home is to complete a CMA (Comparative Market Analysis). The St. Paul Multiple Listing Service (MLS) provides a report that allows Realtors to select similar homes in the immediate area (e.g 1 or 3 miles ) and have the report calculate and the information. The CMA focuses on one number to determine the value of home; $/finished-square-feet. The lot value is part of the $/sqft number which works great IF you have homes located on similar valued lots.

When a home is located in the rural area finding a similar home on the same size acreage is not always possible. There are also out buildings values to consider, the type of land, trees, road frontage, etc. that add value. The standard MLS CMA tools and reports will not adequately provide usable information. When the MLS CMA is used, the Realtor will have to make arbitrarily manual adjustments resulting in inaccuracies.

I have designed and developed software to download to a spreadsheet comparable properties from the MLS database. The spreadsheet breaks down the property value into $/square-foot and $/acre. It also allows for adjustments for many types of price variations and calculates a more accurate and defendable market price.


LOOKING FOR THE "RIGHT" REALTOR?

As a buyer, Realtor services are FREE to you since commissions are paid by the Sellers. The flow chart at the bottom of this page describes the steps in the buying process. As an experienced agent, I will work for you to ensure you are properly represented throughout the entire process. You can work directly with the Home Listing Agent but they are under contract to work exclusively for the Seller ONLY. A Buyers agent knows how to evaluate the market price of a property to ensure you are getting the best price possible. An experienced Realtor is good at negotiating not only the price but many other negotiable items in the transaction.

If you have not yet decided on a Realtor that you can trust as your partner in buying a home, here are Suggested Realtor Questions from Realtor.com.

To get you started in learning more about the buying process, I have FREE DOWNLOADS that include a 1) a Buyer's Brochure and 2) Tips and Tricks and for Buyers.


WHY SHOULD I GET A PRE-APPROVED MORTGAGE?


Click here for assistance in obtaining a preapproval and mortgage.

Offers for purchase of a home cannot be submitted without a pre-approval from a mortgage company. When you find a home, you want to be ready to submit an offer before someone takes your home. This is a simple process and can often be completed online. When you apply for a mortgage, you will need to supply information with regards to your income, expenses, and obligations. Many lenders will help you find a solution to your credit problems. We work with various mortgage companies that can help you.



Coldwell Banker Burnet - Ken Tibesar - 576 Bielenberg Drive Ste 100 - Woodbury, MN 55125
Phone: 651-263-0522   Email: kgtibesar@cbburnet.com

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The materials contained within this page may not be reproduced without the express written consent of COLDWELL BANKER BURNET. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.


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