Are You House Hunting In A Good Neighborhood?

Thursday, September 6, 2007

You know the paramount rule of real estate – location, location, location. Buying in a good neighborhood makes sense on a lot of fronts, but how do you know if you are looking in one?
Nobody wants to buy a home in a bad neighborhood. Still, it happens a lot more frequently than you might think. Why? Well, it can be difficult to evaluate whether you are in a good or bad neighborhood just by driving through it. To avoid bad decisions, you need to research the area. Asking your real estate agent their opinion is not research. They are trying to get a transaction done, so keep that in mind.
The first issue to assess is the economic status of the area. Obviously, you want to live in an area where people have jobs. Jobs equate to money, which means rising property values over time. So, how do you do it? Well, you can dig up statistics on jobs, unemployment and so on, but it can get confusing. A better approach is to drive around the neighborhood and look at how many homes are for sale. If there are a lot, the economic situation is not good. If you see even one empty home, high tail it out over there as fast as you can.
Walking is good for your health. It is also a good way to evaluate a neighborhood. No, you don’t have to walk. Instead, take note of how many people you see walking around. Don’t do this assessment on a Monday in the morning. That isn’t fair! Try a Saturday when people are off work. Keep the windows down as well so you can evaluate whether the area remains quiet or turns into Woodstock. If you are at all concerned about the noise level, cruise the neighborhood on Friday and Saturday night.
Schools are an oldie, but goodie. Quality schools are a sign of a good neighborhood. Most people without kids discount the school issue, which is a huge mistake. Yes, you don’t have kids, but what about when you resell the property? Families are going to make up a large pool of your potential buyers. They are going to be very interested in the quality of the schools, so you should be as well.
Home conditions are another huge factor you need to consider. In this case, we are not talking about the quality of construction and so on. Instead, how are the homeowners taking care of their homes? Drive the neighborhood and look at the homes? Are they run down? Cracking paint? Yards that look like the Amazon rainforest? All are warning signs that should make you reconsider buying in the area.
When house hunting, it is easy to fall in love with a particular property and not really notice the neighborhood. This is a recipe for disaster. Make sure you carefully evaluate the neighborhood around you to avoid buying in a bad area.
Raynor James is with FSBOAmerica.org - get daily real estate tips.

Things To Keep In Mind When Buying A New Home
We all like new things, from cars to gadgets to clothes. That being said, there are some things you need to keep in mind if you are considering buying a new home.
A new home is a glorious paradise. Don’t believe me? Well, just go look at a model in one of the new developments. It is heaven on earth. The carpets and furniture is tremendous. Did you see that kitchen? The yard would be fit for a Sultan. Man, where do I sign the purchase agreement? We have to buy before all of the homes are snatched up!
The above represents a developer’s dream, but isn’t necessarily a good scenario for you. First off, it is very important that you understand what a model home represents. It represents a sales pitch and nothing else. The developer stands to make millions off of the sales of tens or hundreds of homes in the development. How much money do you think he or she is willing to spend on the model home? A lot. While it looks like the Taj Mahal, you have show some discipline and try to picture your stuff in the home. Also, you might be surprised to learn that the marble counter top isn’t a standard feature in the homes for sale. Heck, your home may come with a dirt yard. In short, what you see is rarely what you get. Buyer beware!
Another thing to keep in mind when considering a new home is the cost. Unless the developer is really hurting, you are going to pay more per square foot than with a used home. Much like cars, this is true even when the new home is compared to one that is six months old. There is nothing wrong with paying a premium for something new, but you should be aware you are doing it.
Homes in new developments also can come with some high hidden costs. Many areas now require the developers to build amenities to support the new housing. This can range from new roads to schools for kids. Guess what the developer does with those costs. Yep, he or she passes them through to you in the form of fees and assessments. Examine the purchase agreement very closely because they are often given innocuous names, but can add hundreds or thousands to your monthly payment.
For many buyers, it is a new home or nothing. There is nothing wrong with this approach. Just make sure you educate yourself on the costs and have a realistic understanding of what you are getting compared to the model home.
Raynor James is with FSBOAmerica.org - get a free one month real estate listing.

Coming Up With a Real Estate Closing Gift Idea
The real estate closing gift idea is a fairly new concept for real estate practitioners. Many practitioners in real estate frown at the idea of giving a closing gift to one of their clients. More than likely, they have not embraced the idea because to them it does not seem like good business practice. Even though it may be new to the real estate industry, the idea of giving a gift at the close of a deal is not new to the business world. In fact, it is a practice that has been going on for many years. The practice of giving business gifts has proven to be a good relationship builder in the business world. The same can be true for real estate.
It is not difficult to come up with a real estate closing gift idea. There are some standard gifts that you can consider giving to your client. Alternatively, you can come up with a personalized real estate closing gift idea based on what you know about your client. In the weeks leading up to the close of the real estate deal, you, more than likely, spent a great deal of time with your client. During this time you probably learned something about their tastes. If this is the case, then you won’t have too much trouble coming up with a suitable real estate closing gift.
Once you have come up with a real estate closing gift idea, there are some other considerations that you should take into account before purchasing the gift. The price of the real estate closing gift idea is important. While it isn’t appropriate to spend a great deal of money on a gift, it is also inappropriate to purchase a cheap gift. In fact, it is better not to purchase a closing gift than it is to purchase a cheap gift. Your real estate closing gift idea should be something that the client can use in their new home. Consider the selling price of the home and the affluence of the buyer as you evaluate your real estate closing gift idea.
Add your personal touch to the real estate closing gift idea. This will take a little more time and effort, but the effect that it will have on your business relationship will be well worth it. When you add a personal touch to a real estate closing gift idea it conveys just how much appreciation you have for your client. When you can effectively express your appreciation for your client through a real estate closing gift idea the client will be sure to have positive things to say about your business relationship.
The real estate closing gift idea you have should have staying power. The longer the gift lasts, the more the client will be reminded of the service you provided. A long lasting gift provides more chances for the client to talk about your services. This is a subtle way of generating referrals for years to come.
Once you follow through on purchasing your real estate closing gift idea and giving it to the client, you can follow up with smaller tokens of appreciation. Consider sending a card or giving a phone call to your client at key milestones after the closing. For example, thirty days and six months after the close of the transactions are good times to follow up with your client. This will serve as a reinforcement of the good will that your gift giving generated.
Your real estate closing gift idea doesn’t necessarily require a great deal of thought. Remember that the more thought you put into the gift, the more positive things the client will have to say about you. Only give the gift as a genuine token of appreciation, not to smooth things over with a deal that went sour.
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Ben Hirsh is a Realtor in Buckhead GA and an expert on that market. He also enjoys the study of other markets. His unique website features a Buckhead GA MLS search and an informative report on Buckhead GA real estate .