10 Reasons to Own Instead of Rent (not what you’d expect)

March 14, 2009

We’ve all heard the familiar reasons to own instead of rent. “Build equity”, “invest in your future”, “stop paying someone elses mortgage”, “forced savings plan”, etc. I have constructed a list of own-not-rent motives that you may not have thought about.

10 (different) reasons to own a home instead of renting.

You can move in and out when you want to, you don’t have to wait till your lease is up.
No one has to approve the colors you paint your walls.
You actually could be paying less monthly in your own home than similar rentals. Enough to make a difference.
You don’t have to inform anyone that your living arrangement has changed.
Want new lighting fixtures? Not a problem.
Typically, your mortgage payment doesn’t ever increase, unlike rent. (Unless you get an ARM)
Staying in your home longer, means you can become more involved in the local community.
You don’t have to ask anyone to fix your shower head, just do it yourself.
Help build your credit by paying on time.
Most importantly: You don’t have to ask anyone if you can have a pet! Please adopt.

Are you a first time home buyer? Get started with my first time home buyer’s guide.

Share and Enjoy:

Posted by joeymarino | Filed Under Real Estate Blog | Leave a Comment

$8000 Stimulus Tax Credit Details

March 14, 2009

So you’ve probably heard about the stimulus tax credit for first time home buyers, but you may qualify even if you’ve owned before.

A first time home buyer is someone that has not owned a property as their principle residence in the last three years.
In order to qualify you must make less than $95,000 singly or $170,000 as a couple.
You must live in your new home for 3 years or more.
The tax credit is actually 10% of the purchase price or $8000 dollars, whichever is less.
You can not purchase a home from your or your spouses family.
You can file for your tax credit now if you haven’t filed your 2008 taxes.
The $8000 does not have to be repaid!
You must close on the property before November 30th 2009. It may take 60 days to close making Sept 30th the last day to find a home.

Call or fill in some basic information below to start looking now!

In order to make home buying easier and have free representation, you should find a free buyer’s agent!

Call today in Stark and Summit counties to get started looking. Joey Marino ~ cell:330.412.2221 ~ joey@whippleauction.com

Check out www.federalhousingtaxcredit.com for more details.

First time home buyer’s get started here.

**I am not an accountant or tax professional. Please contact one concerning the details of this tax stimulus.

Share and Enjoy:

Posted by joeymarino | Filed Under Real Estate Blog | 2 Comments

Why Buyers Shouldn’t Call the Listing Agents

March 5, 2009

Most first time home buyers don’t know that they are entitled to be represented by their own real estate agent for free!

Get started with a no obligation home buyer consultation now

The Buyer’s Agent:

Before you start searching, it is in your best interest to find a FREE buyer’s agent. It is important for you to have your own representation when purchasing a home. There is no fee required to use an agent to buy property because the seller’s commission will be split between both agencies involved.

If you call the agents that have the property listed, they are obligated to be looking out for their seller’s best interest. The main reason agents put their names on their listings’ signs and ads is because they won’t have to split the commission if they sell their own listing. If you call the listing agent and walk through the property with them, no other agent will be able to write any contract with you. This is called procuring cause.

Writing an offer with the listing agent will not help you get a better price. The listing agent cannot disclose any prior knowledge concerning what offer the seller would take without permission. A good buyer’s agent will help you decide the best price for the home and negotiate on your behalf to get you the best deal.

It is the buyer’s agent’s obligation and duty to make sure that you get the best deal possible and make the transaction as easy as possible. A good buyer’s agent can also help you find a property that suits your needs because they are constantly watching the market and know what you are looking for. They also have tools to update you on potential properties automatically via email.

Probably the biggest benefit of having a buyer’s agent, is that you can tell them what properties you would like to see, and they can show you many at one time. Otherwise, you would have to call every single agent, set up multiple appointments, at times convenient for all of them, and meet motivated salesmen trying to double their commission.

One little known fact, as a buyer you are responsible for turning on utilities and inspecting the property with professionals. You usually have 5-15 days to do this in. A good buyers agent can make sure this gets done correctly and on time.

Another thing to keep in mind is, most agencies charge a transaction fee. This is approximately a $200 fee, in Canton, Ohio area, that is charged at closing and is totally unnecessary. My company and I do not charge this fee, saving you money. Ask your potential agent if their brokerage charges this.

I am a dedicated and trustworthy buyer’s agent with years of experience. I can help you find a home in the least amount of time for the best value.

Contact us or fill out the quick questionnaire to get started today.

Phone: 330-412-2221
Email: joey@whippleauction.com