Great Article about Home Buying!

Top 10 Reasons to Use a Real Estate Agent
by Brandon Cornett

“Do I need a real estate agent when buying my first home, or can I handle it myself?” This is a common question among first-time home buyers. It’s also an easy question to answer, and you’ll understand why by the time you finish this article.

Let me start by saying yes, you should definitely seek the help of a licensed real estate agent when buying your first home. There are dozens of reasons for this. Let’s talk about some of the most important reasons…

Why You Should Use an Agent

Your first home will likely be the largest purchase of your life, up to that point at least. With so much money on the line, it only makes sense to have professional guidance.
In most states, the sellers pay the agent’s commission (out of the proceeds they make from the sale). In these scenarios, you get the benefit of expert advice without paying out of pocket.
A veteran agent can help you find the kind of home that meets all of your needs, and can save you a lot of time in the process.
In addition to helping you find a home, your agent can match you with the best neighborhood for your needs.
Agents have a trained eye and will often see things that you overlook. They can point out all of the pros and cons of a particular house and neighborhood.
Your agent will help you evaluate the seller’s asking price by analyzing recent sales in the same area. This is the key to making a smart offer on the home.
When you make an offer, you will need to include certain contingencies to protect yourself. For example, you should make the offer contingent on a successful home inspection. Your agent can explain these contingencies and help you include the right ones.
A good agent will educate you during every step of the home buying process. Instead of making decisions for you, your real estate agent will give you the information you need to make a smart decision of your own.
Your agent will keep you on track through the entire transaction, from house hunting all the way to the final closing process. He or she will help you avoid problems that can delay the process.
A veteran real estate agent will usually have a network of contacts in related fields. This is a good way to find a home inspector, a local lender, etc.
These are not the only reasons to use a real estate agent when buying your first home. But they are some of the biggest and best reasons. After reading this information, you’ll probably agree that it makes sense to have professional help. Buying a home is a major financial undertaking, and having expert guidance along the way is the key to success.

© 2009, Cornett Communications.

About the Author: Brandon Cornett is a consumer advocate and publisher of the Home Buying Institute. You can reach the author at www.CornettCommunications.com.

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Principles of Real Estate- Spring PVCC Class

Isn't this an attractive group. Here is the class just before the final exam. Can you spot any future star REALTORS? Instructors Pat Widhalm and Barbara McMurry.

NAR Mid-Year Meeting DC

It is about that time. May always finds us in Washington DC for several days of meetings-the National Association of REALTORS Mid-Year conference. On Tuesday May 12 th there will be an economic summit featuring former Fed Chairman Alan Greenspan. Another meeting of interest is the RIS Media sponsored session on Bank Owned properties. Once again this meeting will be an opportunity to get up to speed on the real estate industry.
It is also a good time to meet agents and brokers from all over the country. Watch for updates.

Charlottesville Dogwood Festival Parade

The 60th annual Dogwood Festival Parade kicks off tomorrow, April 25th, at 11:00 and I will be holding down my usual place on the library stairs! I love parades in general and the Dogwood Parade in particular. There is something about the bands, scouts marching, Red Hat Ladies, or the Girls just Want to Have Fun troupe. Such a simple thing. Every spring invite the world to your streets to celebrate the beautiful dogwoods, young people, old people, hobbies, talents-you name it-it will parade by on Saturday morning.
My first Dogwood Parade stepped off with out me. My first ever appearance with the AHS band (8th grade)was postponed due to two sprained ankles(long story but it involved jumping out of the hay loft). My next appearance was a year later-lost my music lyre in the first block and had to fake it the rest of the parade. ( In the olden days band members didn't memorize their music).
It is a wonderful event. See you there.

Charlottesville mentioned in Travel and Leisure Magazine

We know we live in a terrific area;that is only reinforced when Travel & Leisure Magazine features Charlottesville as a destination for a weekend get-away. Several wineries and restaurants got a shout out, as did the Georgian Villa at Barboursville, and the Dinsmore House bed and breakfast in Charlottesville. Pig-n-Steak made the restaurant guide and so did Calhoun's Ham House in Culpeper. Where shall we go for a weekend get -away?

First Time Homebuyer Tax Credit is now $8,000

While we are still sorting out the details of what the entire American Recovery and Reinvestment Act ( you can read more ),will mean to the housing market, we do know the First Time Homebuyer Tax Credit was revised. The maximum credit amount could be as much as $8,000 for the purchase of your principal residence ( or if you have not owned a home in the last 3 years). The biggest change is that there is no repayment of this credit if you own this home for longer than three years. Your REALTOR will have the details.
Don't forget that a tax credit is different than a tax deduction. This is a great opportunity.

Finance 101

Many families have heard the financial wake up call delivered in the fall of '08. Most are reviewing their debt, income, spending, investments;What different financial decisions will we make in '09. Are we destined to repeat the same mistakes? Check out A New Common Sense, an article in Realty Times, Jan 27, 2009.



" Owning real estate is one way to put your money to work for you.
Headlines may proclaim declines in real estate values and pundit may forecast further doom, but these temporary realities and induced fears are a natural part of the revolving real estate cycle, however extreme they are just now. How many recessions have you weathered? How many "the sky is falling" predictions have you seen replaced with "the only way is up" reality?
Real estate is an often underestimated element in wealth building, even though real estate holdings usually represent very high proportions of personal net worth. What percentage of your total net worth is held in real estate? Compare the percentages before and after the world financial crisis, and you'll see that investing in real estate and in continuously improving the value and saleability of your live-in assets has a significant impact on your quality of life now and in the future. "



Works for me.