S.S.W.O.R.E. - Smart, Successful Women Own Real Estate

Are you Average? Do You Fit the Mold of the "Average" Female Homebuyer?

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Sat, 14 Mar 2009 20:55:00 +0000

According to the National Association of REALTORS® Profile of Home Buyers and Sellers, in 2008, 41% of homebuyers were first-time homebuyers!

The average age of a first-time homebuyer was 30.
The median income of a first-time homebuyer was $60,600.
The average purchase price was $165,000.
The median down payment was 4%.

Additionally, 20% of homebuyers in 2008 were single women, proving that there is no "correct order" to do things (i.e., get married and then buy a home!).

Where do you fit?

$8,000 First-Time Homebuyer Tax Credit

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Thu, 26 Feb 2009 01:17:00 +0000

You've heard it a lot lately, but now it's more true than ever:

Now is a great time to buy.

And not only is now a great time to buy - it's a SMART time to buy. And what's the name of this website? Smart Successful Women Own Real Estate.

As of February 19, the government is offering up to an $8,000 tax credit for first-time homebuyers. If you have been thinking about buying, now's the time to do something about it. Here are a few of the facts about the new tax credit:

Who is eligible? First-time homebuyers who are qualifying taxpayers who buy a house this year before December 1, 2009

How is "first-time homebuyer" defined? The IRS defines first-time homebuyer: "For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

When can I claim my credit? On your 2008 or 2009 tax return (you must fill out Form 5405 with your tax return)

How does my income affect my tax credit? The amount of the tax credit begins to phase out if your adjusted gross income is over $75,000 (or more than $150,000 for joint filers).

Do I have to pay back the $8,000 tax credit? No, unlike the 2008 tax credit, you do not have to pay the 2009 tax credit back. (For more information on the differences between the 2008 and 2009 tax credits, please click here.)

What if I want to buy a condo? All single-family residences are eligible, including townhomes, condos, co-ops and detached houses, as long as it will serve as your primary residence.

If you have more questions about this INCREDIBLE opportunity to be rewarded for buying a home, please give me a call. I can help you understand the tax credit, as well as understand the homebuying process.

Buyers: 10 Important Questions That Your Buyer Agent May Ask You . . . And Why!

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 18 Feb 2009 21:04:00 +0000

Buyers (especially First-Time Homebuyers): It is a good idea to have a REALTOR® representing you when you purchase a home. True, you can search for homes online and even view homes with the listing agent or the seller, but a REALTOR® can help you to navigate the often tricky waters of negotiation, inspections and legal aspects of a real estate contract, especially if you are a first-time homebuyer.

And just as you will want to interview your Buyer Agent before you hire her, she may want to "interview" you. She's not being nosy - she's just trying to get an idea of you as a buyer and how to best serve you. Please click the link below to see some sample questions that your Buyer Agent may ask you - just so you can be prepared!

To read the full list and to have a chance to comment and ask questions, please click here!

Buyers: 10 Important Questions to Ask Your Buyer Agent . . . And Why!

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 18 Feb 2009 20:51:00 +0000

Buyers (especially First-Time Homebuyers): It is a good idea to have a REALTOR® representing you when you purchase a home. Especially these days, when the market can seem difficult understand, with foreclosures, short sales, buyers' markets, and all the other ins and outs of the real estate transaction. True, you can search for homes online and even view homes with the listing agent or the seller, but a REALTOR® can help you to navigate the often tricky waters of negotiation, inspections and legal aspects of a real estate contract, especially if you are a first-time homebuyer.

There are some inportant questions that you should ask your REALTOR®, when you are considering hiring her to represent you.

To read the full list and to have a chance to comment and ask questions, please click here!

First-Time Homebuyers Make Up Large Percentage of Buyers in 2008

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Tue, 17 Feb 2009 19:44:00 +0000

Did you buy your first home in 2008? If so, you fall into the category of "First-Time Homebuyers" and according to the National Association of REALTORS®, you make up a large percentage of the home sales!

The above chart shows that 41% of ALL BUYERS were first-time homebuyers - and then breaks down the numbers by region:

Northeast - 46%
Midwest - 41%
South - 39%
West - 41%

According to the study, "unencumbered first time buyers are therefore a larger share of purchasers, now 41 percent." In almost all regions of the country, and nationally, "first-time buyers became a larger segment of the market."

If you did not buy in 2008, it is still a great time to buy! In many areas of the country - and in the Atlanta area, in particular - it is a "Buyer's Market," meaning that it is a market in which the number of sellers is greater than the number of buyers, so the supply outweighs the demand. This means you have more choices and more chance for negotiation. There are still some "good deals" out there, but even more important than that, there are beautiful properties on the market in good to great condition. You do not have to buy a foreclosure or short sale property or a distressed property in need of major repair to get a good price on a home.

Do you want to find out more about buying a home in the Atlanta area, or are you thinking about buying your first home? I'd love to meet with you for a consultation! Give me a call today at (770) 238-0595 or email me at Maura@GebhardtGroup.com.

Atlanta's Buckhead Neighborhood Wins National Attention on HGTV's "Top Ten Dreamy Neighborhoods"

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Tue, 10 Feb 2009 23:52:00 +0000

Want to live in a dreamy neighborhood?

Move to Atlanta, Georgia's Buckhead! According to HGTV's "Top Ten Dreamy Neighborhoods," Buckhead is definitely the place to be!

With the current interest rates and the plethora of choices for buyers - especially first-time buyers - in Buckhead, now is a great time to buy! If you've been thinking about buying, take a look at these numbers:

As of today, February 10, 2009, with the current FHA loan limit falling within a purchase price of approximately $350,000, there are 39 single-family homes and 676 condo units currently on the market in Buckhead!

To read the full article about HGTV's list, please click here.

To find out more about buying a home in Buckhead or anywhere else in the Atlanta area, please email me today at Maura@GebhardtGroup.com

Home Inspections - Not Evil, Just Necessary

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Fri, 10 Oct 2008 12:00:00 +0000

I once heard a buyer describe home inspections as "a unnecessary evil," and I thought, "Really?"

I can't imagine buying a home without one.

In my years as a REALTOR®, I've seen good inspections and not-so-good inspections, but never have I regretted advising a client to get one. It's always a surprise to me that anyone would really make one of the biggest purchases of their life without have a professional come in and inspect the home, all for the sake of saving about $400.

In a recent article on MSNMoney.com entitled "10 times you can't afford to skimp" by Liz Pulliam Weston, home inspections appear on her list. She writes:

"Talk to any group of smart real-estate investors and you'll hear hair-curling stories of properties they fell in love with, only to have inspectors discover the house was about to fall down or needed tens of thousands of dollars in repairs. Having this knowledge helped them pass on bad deals or at least negotiate lower prices."

A home inspector helps you to notice the things you can't see with the naked eye, or with the untrained eye. Termite damage. Toxic mold. An unsupported floor joist. An ungrounded electrical outlet. I know I don't have the knowledge or the training to see these things for myself...do you?

Pulliam Weston goes on to say:

"During the real-estate boom, there were some buyers who made the (weak) argument that insisting on an inspection would cause the sellers to choose another bidder, but in today's slower markets, there's really no excuse not to hire an expert to inspect a home before you buy. Check the American Society of Home Inspectors for details."

Do yourself a favor -- ask your REALTOR® to give you a list of home inspectors they know and trust and then get on the phone, get quotes and choose one. It could be the best $400 you've ever spent!

Understanding Your Credit Report - What Does It Mean?

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Thu, 09 Oct 2008 19:20:00 +0000

Your credit report is like a financial fingerprint - its positive (and negative) elements can stay with you indefinitely and serve as a form of identification for your credit trustworthiness.

You should be aware of what your credit reports say about you. The three major credit reporting agencies -- Equifax, Experian and TransUnion -- can provide you with copies of your credit report so that you can check its accuracy.

If you are a resident of the state of Georgia, you are entitled, under state law, to receive two (2) free copies of your credit report from each of the three major reporting credit agencies (Equifax, Experian and TransUnion) per year. Click here for a form you can use to request your credit report, found on the website of Atlanta's real estate guru, John Adams.

But credit reports can be confusing, at best, if you are not sure what you are looking for. There are many websites that can provide you information on how to read your credit report, but I think you should go straight to the source.

Founded in 1956, Fair Isaac is the company that invented the modern credit score system and works with the credit reporting agencies to provide your credit score. Their website -- http://www.myfico.com/ -- provides free downloads on understanding your credit score and report, bankruptcy, identity theft, and more. You can also purchase detailed credit reports through their site and get discounts by joining as a member. (I do not have any experience with using their paid services.)

Here are some downloads you can access from myFICO.com that may help you to better understand your credit report and scores:

Understanding your credit score and regularly monitoring your credit report for fraud and accuracy is vital to your credit health.

GEORGIA RESIDENTS: Order your free credit reports today!

How Healthy is Your Credit Rating?

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Thu, 09 Oct 2008 19:15:00 +0000

Your Credit Rating Can Have a Serious Affect on Your Ability to Purchase a Home...Especially Now

When is the last time you checked your credit report?

Identity theft is a serious problem these days, what with the accessbility of personal information over the Internet and how lax we have become with giving out our personal information over the web and the phone.

The information that appears on your credit report can seriously affect your ability to make major purchases, such as a home, a car, even a new computer. It's crucial to your credit reputation that you give your credit report a check-up, at least once a year, to be sure that the information on the report is correct -- that your recorded debt is accurate, that your payoffs show up on time, and that there are no unauthorized purchases falling under your name.

If you are a resident of the state of Georgia, you are entitled, under state law, to receive two (2) free copies of your credit report from each of the three major reporting credit agencies (Equifax, Experian and TransUnion) per year. Click here for a form you can use to request your credit report, found on the website of Atlanta's real estate guru, John Adams.

Think about it twice a year when you change your clocks - once in the spring and once in the fall - simply fill out the above form, make three copies and mail it to the addresses included on the form.

If You Have Credit Problems, You Can Fix Them!

If you have made unwise decisions in the past that have affected your credit, such as letting a credit card or cell phone account fall into default or consistently making late payments, those things will show up on your credit report. But do not despair - you can fix your credit problems!

Request a copy of your credit report from each of the three major credit agencies. Use your credit reports to first verify that the debt listed is correct and not the result of identity theft or unauthorized use of your credit cards. Then make a plan to pay off your debt and free your name of bad credit.

It may take some time to revive your credit, depending on how many bad debts you have on your reports, but make an effort to start now.

For more information about your credit report and what it includes, please visit our post on Understanding Your Credit Report - What Does it Mean?

Are You Living Beyond Your Means? Are You Thinking of Buying a Home? Five Ways to Assess Your Finances

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 16 Jul 2008 14:49:00 +0000

Ladies...Are you living beyond your means? Now is the time to clean up your act!

All the talk on the news lately focuses on the economic downturn and the soft real estate market. It seems as though these things have become a self-fulfilling prophecy -- the more they're talked about, the more they come true.

Whether or not we are headed for a recession, now is not the time to be living beyond your means. Now is the time to clean up your financial act and tighten your purse strings a bit, if for no other reason than to develop healthy financial discipline!

In an article this morning on Yahoo! Finance, Glenn Curtis discusses "Five Signs That You're Living Beyond Your Means".

1. Your credit score is below 600
2. You're saving less than 5%
3. Your credit card balances are rising
4. More than 28% of your income goes to your house
5. Your bills are spiraling out of control

If your any one or more of the above sounds like you, it may be time to reassess your budget to make sure things don't get worse.

Homeowners: if #4 sounds like you, it may be time to really sit up and pay attention. To figure it out, calculate what percentage of your monthly income goes toward your mortgage, property taxes and insurance. If it's more than 28% of your gross income, then you are likely in over your head.

"Why is 28% the magic number? Historically, conservative lenders have used the 28% threshold because their experience has told them that this is the rate at which the average person can get by, make their mortgage payments and still enjoy a reasonable standard of living. Certainly, some homeowners can get by spending a higher percentage on their homes, particularly if they cut back elsewhere, but it's a dangerous line to walk," according to Curtis.

If you're thinking of buying a home in the near furture and you're not sure what you can afford, discuss your financial situation with your REALTOR® and a reputable lender. While divulging this kind of information can be uncomfortable, it's absolutely vital to make sure that you can afford the house you want to buy and that you can afford the mortgage product you are stepping into. With the help of your homebuying team -- your REALTOR® and your lender -- you can make smart decisions that can make homeownership a reality, even in a tough economic and real estate market!

TAKE HEART: "As a nation, we are digging ourselves ever deeper into debt. To avoid becoming part of the gloomy bankruptcy and foreclosure statistics, it's important to measure your financial health regularly. The five signs presented here are not a death sentence; instead, they should be seen as symptoms that allow you to diagnose a problem before it gets worse."

Getting Help Buying Your First Home

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Fri, 11 Jul 2008 14:45:00 +0000

Though it is true that different mortgage lenders and different loan products have varying requirements for loan approval, including differing limits on how much money you can get from outside sources, you can still get help in buying your home...and it can be as easy as asking Mom and Dad.

A recent article on REALTOR® Magazine Online, "How to Help the Kids Buy First Home," highlighted three ways that parents can help their children buy a home in that time-honored tradition of getting them out of the house!

Another great way to find out about ways your parents or other family members can help you purchase your first home is to talk to a reputable lender. There are many options out there for gift money, as well as downpayment assistance and many types of loans that you may not even know exist!

Just click here to read the article - and see if this is an option for you!

BUYERS: Why You Should Want to Sign a Buyer Brokerage/Buyer Agency Agreement | Why I Need You to Sign a Buyer Brokerage/Buyer Agency Agreement

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 18 Jun 2008 19:05:00 +0000

Buyer Agency Agreement Buyer Brokerage Agreement Benefits of Working with a Buyer's Agent

Buyers: I know what you're thinking..."why should I sign a Buyer Brokerage or Buyer Agency Agreement with my Realtor?"

As a Buyer's Agent, I can tell you that my reasons for wanting you to sign the Buyer Agency Agreement with me is for more than just securing you as a client. This contractual agreement protects both you and me, and it is in your best interests to sign it. And in Georgia, it's the law. Here's how it works to protect both sides -- you, the Buyer, and me, the Buyer Specialist:

First of all, by signing the Buyer Agency Agreement with me you ensure that I am working for you in a client relationship, meaning that I represent you exclusively in the contract. I can tell you all of the information I know about the property. I am obligated to work in your best interests.

The traditional agency relationship requires that all agents have fiduciary relationship with the seller. By that I mean it's their job to protect the interests of the seller. By entering into a Buyer Agency Agreement with me, you ensure that I will always be working in your best interests, not the seller's. This is how it protects you.

The agreement also protects me. It means that you are acknowledging that I am representing you for the duration of the contract period, and you are agreeing that you are working exclusively with me for the duration. The benefit of working for you as a Buyer's Agent is simple: if I know what the seller's motivating factors are, as a Buyer's Agent, I can tell you everything I know, therefore increasing your leverage in negotiations.

The Buyer Agency relationship is serious. It's like being married - you don't date other people. And once we're ‘married,' you don't go shopping for homes with other REALTORS®. This is how it protects me.

A Buyer Specialist solely represents your interests. Someone who has a signed agreement with the seller represents the seller's best interests. Would you, for example, want to be represented in court by the attorney working for the other side? I would guess that your answer is no. So you may not want to call the listing agent to represent you in the purchase. Why would you want to be represented by the agent who also represents the seller and has had a relationship with them for longer and cannot, legally, work solely in your best interests?

With me as your buyer agent, we can work together and pull up what the seller paid for the home, comparable sales, and I will represent you on your behalf.

I believe it is my responsibility to prove to you that you should work with me and trust in my abilities. Because of that, you can sign the Buyer Agency Agreement with me for one week - or even just one day - so that you can see how I work and we can build rapport and trust. Then, we can move forward with a longer contract period for the Buyer Agency Agreement and find you that perfect home.

Do you have further questions about the benefits of working with a Buyer Specialist? Would you like to know more about how I work as a Buyer Specialist? Please feel free to contact me!

BOOK REVIEW: Buying Solo - The Single Woman's Guide to Buying a First Home (by Vanessa Summers)

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 18 Jun 2008 01:04:00 +0000

Buying Solo - The Single Woman's Guide to Buying a First Home
by Vanessa Summers

FINALLY! A book that caters to single women who are in the market to buy their first home...or who have just begun to entertain the idea! As the cover of the book reads: "Don't wait for Mr. Right -- make the best investment of your life!"

Vanessa Summers presents an in-depth look at the process of purchasing your first home and provides excellent inspiration and motivation to spur on single gals toward the ultimate goal of owning a place of their own.

Covering such topics as figuring out how much home you can afford to the joys of home ownership (no more landlords!) and the impact of your credit report on your ability to buy, Summers enthusiasm is infectious! And the brief 192-page book is more like a conversation with a big sister or trusted friend than a book about purchasing real estate. Her skill at overcoming common excuses for not buying -- such as "I can't afford to buy" and "I'm not sure how long I want to live in one place" and the definitive "I want to wait to buy until I have a family [read: husband] of my own" -- is authoritative, yet gentle. Basically, the gist of the book is stated in the first sentence of the introduction: Why a Home is the Best Investment a Single Woman Can Make.

However, I do have a few criticisms of Summers' book, mainly that she oversimplifies and glosses over a number of important concepts, such as commission structures and the importance of using a Buyer Agent or Buyer Specialist to represent you in the purchase of your home. Summers claims that using a Buyer Agent is dangerous, as "there will always be an inherent conflict of interest [when using] a buying agent because their commission size is always going to be dictated by how much the buyer paid for the house!" True, I work mainly as a Buyer Specialist so of course my position on this issue differs from Summers'. However, working with an ethical Buyer Specialist ensures that your best interests will always be foremost - above commissions, above closing the transaction, above all.

Moreover, aligning yourself with a Buyer Specialist you can trust is the most important part of your home purchase. A Buyer Specialist can guide you through the process of buying your first home -- and every home thereafter -- with far greater skill and knowledge than following the simplified and non-state specific guidance of a book. This book is an excellent motivator and provides credible advice in a readable format, but it is no substitute for a qualified, knowledgeable Buyer Representative.

My advice:

Interview your Buyer Specialist carefully. Ask them as many questions as you feel you need to in order for you to be comfortable!

Ask for copies of testimonials and references from recent past clients, and take the time to follow up on those references.

Meet with your Buyer Specialist before actually going to look for homes -- have coffee or lunch to see if you "click."

Then move into the home-search process slowly, asking questions as you go so that you feel confident in your own knowledge and decision-making.

(NOTE: The book is also a bit out-of-date as it relates to types of mortgages available. With the recent demise of the sub-prime market, the mortgages Summers discusses that come with little or no money down are few and far between -- if they even exist at all anymore. As a general rule: get a referral to a good mortgage lender or broker to discuss current mortgage options and what you can personally qualify for, before making the decision to buy.)

Read this book, but read it with the understanding that its advice is very generalized. Use it for a motivator to get you inspired to begin to explore the possibility of owning your first home. Let it drive you to start asking questions and talking to others who have gone through the process.

If you have questions or comments about this book or this review, please feel free to post them below! I'd be happy to respond!

* * * * *

BOOK INFORMATION:
Buying Solo - The Single Woman's Guide to Buying a First Home
by Vanessa Summers
ISBN-13: 9780399530760

A Good REALTOR® Does More Than Show Homes

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 07 May 2008 19:20:00 +0000

Call on Your Real Estate Agent to Help You With ALL Your Real Estate Needs!

Most people think of calling a REALTOR® at two times in their lives: when they are ready to sell their home and when they are ready to buy a home. In both cases, the REALTOR® is expected to do one main job - show homes.

But a good REALTOR® does more than show homes. A good REALTOR® wants you to call on him or her for any number of a long list of tasks and is prepared to help you with them. In fact, showing homes really makes up a very small percentage of a good real estate agent's daily tasks. Here are a few things you might not have known you could call your REALTOR® for:

Comparative Market Analysis. You just bought your home a year ago and aren't even close to thinking about moving yet, but you've noticed a lot of homes in your neighborhood going on and off the market during the year you've lived there. You find yourself wondering what those homes sold for, and perhaps also wondering what your own home is now worth.

Call your REALTOR®. Ask for a market analysis. Ask to know what other homes have sold for in your neighborhood and whether those prices have affected your home's value. Your REALTOR® will be happy to help.

A Referral to an Out-of-Town REALTOR®. Your niece has just graduated from college and is ready to buy her first home. She lives across the country in a town where neither you nor her parents have any contact. You're worried about her making a good decision, making a good investment, and having all the information she needs to do both of these things.

Call your REALTOR®. Ask for a referral to an agent in your niece's city. Give your REALTOR® as many details as you have about what your niece is looking for; she may even ask to call your niece to get more information before turning to her referral network. Many agents attend annual conferences and educational classes around the country and make many contacts with real estate agents they know they can trust. Through her extensive referral network, your REALTOR® can give you a referral anywhere in the world. Your REALTOR® will be happy to help.

1031 Tax-Free Exchanges. You own a rental property and are thinking about selling it and buying a vacation home at the beach so that your family can have a place to get together during the summers. You know that your rental property has appreciated a great deal since you bought it, and you've heard about the tax implications of selling an investment property. You want to be able to keep those profits and put them into your beach house, not hand over a large percentage to the government, but you aren't quite sure how to do so.

Call your REALTOR®. Ask for help doing a 1031 tax-free exchange. Your REALTOR® has a 1031 tax-free exchange company or a contact through her real estate attorney's office. Together, they can help you through what can be a difficult process and get you that beach house you're dreaming of. Your REALTOR® will be happy to help.

Of course, this is not an exhaustive list. Each REALTOR®'s areas of expertise are different, and you should contact your real estate agent to see what other services she can provide. For a complete list of the services my team and I provide, please email me!

A good REALTOR® is more than just a person with access to the Multiple Listing Service and a lockbox key. To get the most out of your real estate experience, make the call - your REALTOR® will be happy to help!

Copyright © 2008 Maura C. Gebhardt. All Content. All Rights Reserved.

Go Green, Girls! Wallet-Friendly, Budget-Conscious Ways to Live Greener

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 23 Apr 2008 16:01:00 +0000

Yes, Earth Day was officially yesterday. But shouldn't it really be Earth Day everyday?

"Going Green" feels overwhelming to me -- I can't afford to replace all of my windows in my house with brand new, evergy-efficient ones. Or buy a hybrid car when I just bought a new car two years ago. Or add solar panels to my roof.

But there are wallet-friendly, budget-conscious things that I -- and you -- can do every day.

For a short list of ways you can start living greener, just click here. (It will take you to The Gebhardt Group's blog where you can add your own wallet-friendly, budget-conscious tips in the comments section!)

Single and Proud of it? But...

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Mon, 21 Apr 2008 20:00:00 +0000

Are you a single woman and proud of it? You should be proud of yourself! You are smart... You are successful...

But you are still renting your home.

Despite the fact that you have heard that now is a good time to buy.

Despite the fact that you know that owning a home is a better investment than renting.

Despite the fact that you have a savings account, a money market account, a 401(k), an IRA, or other smart investments.

Over the next few weeks, I'll be giving you a series of posts dispelling myths about homeownership and offering you reasons to start thinking about owning your own home right now. This is what S.S.W.O.R.E. (Smart, Successful Women Own Real Estate) is all about.

My goal is to provide you with the education and knowledge you need to achieve your dream of homeownership. It is crucial that you feel comfortable and confident when beginning the home ownership process, and as a fellow woman I understand the importance of feeling respected and educated about the process. It is of no surprise that there are more and more women who are acquiring homes without the help of a male figure, and it is about time that there is a source in our area dedicated to catering to women's needs in this respect.

WE ARE SMART, SUCCESSFUL WOMEN: It’s All About Respect.

Should Newlyweds Buy a House? | Buying Property with your New Spouse | Buying a Home as a Joint Investment

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Wed, 16 Apr 2008 00:18:00 +0000

I came across an interesting article on MSNmoney.com the other day entitled, "Should Newlyweds Buy a House?"

An interesting question, indeed.

In my dealings with a lot of newlyweds/first-time homebuyers, I have encountered this question a lot. Of course, I cannot answer this question for a client, but I can help them through the thought-process and try to help them reach a decision that they are confortable with on their own.

One of the first things we do with any buyer, not just the first-time variety, is refer them to our trusted mortgage lenders. Not only do we know that these mortgage professionals do a great job with our clients, but we have all used them personally and can attest first-hand to their knowledge and trustworthiness.

And of course, one of the tips in the article is right up this alley: Get pre-approved before house-love hits.

But it's not just about getting pre-approved and finding out how much the standard debt-to-income ratio says you can afford to spend. It's also about knowing what you are comfortable spending, and those two numbers can be very different.

Of course, the article doesn't do much to answer the question it poses in its title - should you buy a new house. That is a question that only you and your spouse can ultimately answer. But it does eloquently present some important things to think about. In addition to getting pre-approved, other helpful tips offered by this article are aggressive saving, discussing and managing timelines and researching mortgage deals.

I highly recommend this article to any newlyweds/first-time homebuyers contemplating that first big housing purchase. There is so much to think about as you venture into a life together, not to mention into homeownership together.

Women: What Are You Waiting For to Buy Your First Home?

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Mon, 14 Apr 2008 15:00:00 +0000

Despite our ideals of the 21st-century woman being more independent than ever, making more money than ever before and climbing the corporate ladder, many women still feel that certain life milestones need to come in a certain order -- marriage first, buying a home second.

But it certainly isn't true for a growing number of women. Look at these numbers:

The single female segment of the homebuyer population accounted for 18% of all homebuyers in 2004.
Single women purchased approximately one in five homes in 2003, while more than one in ten were purchased by single men.
More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
Over the time period of 1994-2002, the number of unmarried females owning homes climbed from 13.9 million to 17.5 million.

So what are you waiting for?

It's true that buying a home means a lot of responsibility. It's the single-largest investment that most people will make in their lifetime. And it is truly the best long-term investment you can make.

Imagine...instead of putting your hard-earned money into your landlord's pocket and building up his investment every time you write a monthly rent check, by buying a home and making a mortgage payment, you are actually investing in yourself. You are building up equity (equity: the difference between the sale price of a property and the mortgage balance owed on the property), adding to the value of your property and to your own net worth.

You probably have at least one of the following: an IRA or Roth IRA, a savings account, a money market account, a 401(k), which proves that you are thinking about your financial future. You can continue to build your personal wealth and your individual portfolio by buying a home. Don't invest in your landlord's future -- invest in your own future. And start thinking about it now. There's no time like the present!

Why You Should Use a Licensed REALTOR® When Purchasing a Home

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Thu, 10 Apr 2008 19:06:00 +0000

Answering Common Excuses for Not Using a REALTOR®

Are you in the market to buy your first home? If so, I'm sure that you have heard many reasons that you should not use a REALTOR®, but I am here to debunk those home buying myths and give you some very valid reasons why using a licensed REALTOR® is in your best interests.

Test your knowledge below - Truth or Myth?

If I go straight to the listing agent, I'll get a better deal.
Myth. The real estate agent who has a home listed has a contractual obligation to the seller, not to you. That agent is duty-bound to work in the seller's best interests. By negotiating with the listing agent, without having your own agent for representation, you are denying yourself the opportunity to have a licensed professional work on your behalf.

Look at it this way: Would you, for example, want to be defended in court by the prosecuting attorney? My guess would be, no. So you probably should not rely on the listing agent to represent you. Why would you want to be represented by the agent who also represents the seller and has had a relationship with them for longer and cannot, legally, work solely in your best interests?

It will cost me too much money to work with a real estate agent.
Myth. Many consumers do not realize that, in most cases, the seller pays all of the real estate commissions, to both the listing agent and the buyers' agent. When a seller lists their home, they sign a listing agreement with the listing agent, in which they agree to the total commission to be paid on the sale of the home. This includes the commission that will be paid to the agent that represents you, the buyer. In most cases, the total commission is between 6% and 7% of the purchase price, which the listing agent splits with the agent representing the buyer.

So in short, it costs you nothing to have a licensed REALTOR® represent you in the purchase of a home.

I can find out everything I need to know to buy a home myself on the Internet.
Part Truth, Part Myth. The Internet is a valuable resource for homebuyers, especially now. Many really reputable REALTORS® have websites and blogs that provide a plethora of information that can be extremely helpful and educational for homebuyers.

However, the amount of information available can also be extremely overwhelming. Every site and article has links to other sites and articles, and the amount of information is virtually infinite. Do you have the time to read through seemingly endless articles and websites to get the information you need?

Also, almost anyone can publish articles and information to the Internet. How can you be sure that what you are reading is substantiated by fact? How can you be sure that the person who wrote that material is knowledgeable enough in the field to be qualified to give you this advice? How do you know that person is even a licensed REALTOR®?

Unlike a faceless author on the Internet, a licensed REALTOR® has a license number, and you can check the status of their license with their state real estate commission. You can interview that REALTOR® in person to see if you "click" with them and think you would enjoy working with them and trust them with your transaction. You can also ask for a list of past clients as references so that you can call and ask that person what their experience was working with that REALTOR®.

Additionally, a licensed REALTOR® has had considerable training both pre-license and post-license in all aspects of representing a buyer - don't waste your time trying to learn everything that an agent already knows. Spend your time finding the right agent, and then rely on them to do their job.

Buying a home is the American dream. A home is a great investment, but it is a huge financial commitment - for some people, it's the largest financial investment they will ever make. Shouldn't it be a priority to make sure that you have a licensed REALTOR® working in your best interests for the biggest financial investment of your life?

Copyright © 2007 Maura C. Gebhardt. All Content. All Rights Reserved.

Statistics on Women and Homeownership

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Tue, 01 Apr 2008 22:30:00 +0000

Just the Facts About Women as Homeowners

B The single female segment of the homebuyer population accounted for 18% of all homebuyers in 2004.

B Single women purchased approximately one in five homes in 2003, while more than one in ten were purchased by single men.

B More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).

B About one-quarter of the nation's nearly eight million single mothers spend more than half of their incomes on housing, compared with one-tenth of households headed by single fathers.

B Over the time period of 1994-2002, the number of unmarried females owning homes climbed from 13.9 million to 17.5 million.

Sources: 2006 NAR Profile of Home Buyers and Sellers, (Chicago, IL: National Association of REALTORS®, 2005).

Welcome to S.S.W.O.R.E.!

maura@smartsuccessfulwomen.com (Maura Neill, REALTOR®, ABR, CRS, MA) — Tue, 01 Apr 2008 21:47:00 +0000

Smart, Successful Women Own Real Estate

Are you a woman? Are you a homeowner and/or property owner -- or interested in becoming one? Then this blog is for YOU!

According to the National Association of REALTORS®, "Single women represent 20 percent of buyers, up 50 percent during the past eight years. That's an amazing statistic! The NAR goes on to say that "single women represent the future of real estate sales."

Here are some other interesting statistics about women and homeownership:
a More than one in five home buyers is a single woman.
a Twice as many unmarried women are buying homes than single men.
a Single women make up more than one-third of the growth in real estate ownership since 1994.

But WHETHER YOU ARE MARRIED OR SINGLE, buying a home is one of the best long-term investments you can make. The money you pay monthly in rent could be much better spent by paying it toward a mortgage, with which you are basically investing in yourself and in your home's equity. Additionally, you can take that one step forward and begin to explore the possibility of owning investment properties, such as rental properties or a second home.

WELCOME TO S.S.W.O.R.E -- Smart, Successful Women Own Real Estate!