Zero-down programs are few and far between these days, but one stalwart just got an upgrade!

USDA Guaranteed Rural Development loans offer 100% financing with no monthly Private Mortgage Insurance. Seriously, did you hear me? I said NO monthly PMI.

Although income restrictions for this program are determined based on the number of people living in a household, these limits were loosened beginning April 20. Previously, the income limitations were based on the exact number of people living in the home. For example, the limit for two people was different from the limit for one person; the limit for three people was different from the limit for two people, etc.

As of April 20, however, the household income limitations are grouped into two categories: 1-4 Person Households and 5-8 Person Households. This is great news!

It means that higher income earners with fewer people in the household may be more likely to qualify.

In non high-cost counties, where 1-4 people reside in a home, the income limit will now be $70,750. In homes where 5-8 people reside, the limit is $93,400. While these figures serve as a guide, there are certain formulas to arrive at these numbers where people can earn more and still qualify.

Now just because you see the word “rural” in the program name, it doesn’t mean we’re talking farmland here.   Rural generally is defined as areas that are not densely populated and have fewer neighborhoods – but you might be surprised at how many neighborhoods qualify. To check if a home you are interested in would qualify click the link below.

Is my property eligible for USDA Guaranteed Rural Housing financing?

More buyers will have the ability to buy a home without a down payment. Also, when it comes to USDA Rural Housing loans, the seller can pay closing costs up to 6%. When you combine these benefits with the available tax credit of up to $8,000 for first time home buyers, helping more people get into the home of their dreams is suddenly a lot easier.

To learn more about how this program can help you sell more homes, and how people earning more than the limits listed above can qualify, give us a call. This is a great opportunity to increase your business and your share of the market.

Sincerely,

Anita Becker
Coldwell Banker Home Loans
(520) 730-0969

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The Obama administration will be releasing details today on the stimulus plan Obama proposed on February 18th. It should be interesting to see how much (if at all) the plan differs from what was originally proposed.

I will be updating this post throughout the day as details become available.

Update 3/4/09 9:02am: CNNMoney.com has posted details to the Obama Stimulus Plan here.

Do I Qualify?

To participate in the loan modification plan, borrowers must:

• have obtained their mortgage before Jan. 1, 2009;
• have a primary mortgage of less than $729,500;
• live in the property;
• fully document their income by providing tax returns and pay stubs;
• sign a statement of financial hardship; and
• go for counseling if their total household debt – including auto loans, credit cards and alimony – totals more than 55% of their income.

The modification program will be in effect until the end of 2012, but loans can only be adjusted once.

Officials also unveiled more details on how servicers will modify the loans. First, they must reduce interest rates so that borrowers’ total house payments are not more than 38% of their monthly income. The government will then subsidize servicers dollar-for-dollar to lower that ratio to 31% – but the interest rate can’t go below 2%.

The new interest rate would then remain in place for five years, after which it will increase by 1 percentage point a year until it reaches either the original rate or the prevailing mortgage rate at the time of the modification, whichever is lower.

If rate reductions aren’t enough to get payments to 31% of income, a lender can extend the term up to 40 years, or shift part of the principal to the end of the loan at no interest. Servicers also have the option of reducing the loan’s balance.

Servicers will receive $1,000 for each loan modified, as well as additional annual bonuses if borrowers keep up with payments. Investors will receive one-time $1,500 incentive payments for restructuring qualifying loans that are not yet delinquent. Finally, borrowers who keep up with their new payments will receive up to $1,000 a year in principal reduction, for up to five years.

he program also includes a new provision to eliminate borrowers’ second mortgages. Investors in those mortgages, who at times have blocked modifications because they don’t benefit from the adjustments, will receive incentives to eliminate those claims. Servicers that get second-mortgage holders to participate will receive an additional $250.

Update 3/5 5:38am – The Arizona Daily Star has an article in today’s paper entitled “Mortgage plan may aid 9M; many Arizonans are left out ” that I think is a crucial read, brief excerpt below:

President Obama’s new mortgage-relief plan, launched Wednesday, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes.

But it leaves out tens of thousands of borrowers — many of them Arizonans — in the most-battered housing markets. They won’t qualify because their homes have lost too much value.

The program detailed Wednesday offers refinanced mortgages or modified loans with lower monthly payments. Yet its refinancing plan is limited to borrowers who owe up to 5 percent more than their home’s current value. Loan modifications, supported by $75 billion in federal funding, are unlikely for severely “underwater” borrowers.

In the California cities of Stockton, Modesto and Merced, more than one out of every 10 homeowners with a mortgage won’t qualify for any help because they owe more than 50 percent more than their house’s current value, according to data from Zillow.com, a real estate Web site.

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This article on Obama’s new stimulus plan was just posted on CNNMoney.com and I think it’s safe to say it should be recommended reading for everyone.

Here are the important excerpts (edited for brevity):

Falling home prices

The administration, which is marketing its plan as help for “responsible homeowners,” estimates it can help up to 5 million people.

The plan would help borrowers who owe more than 80% of their home’s value to refinance and reduce their monthly payments. Lenders generally won’t refinance people who have less than 20% equity in their homes.

But only those who are current on their payments and whose loans are held or guaranteed by Fannie Mae and Freddie Mac are eligible. Also, the new mortgage, including refinancing costs, can’t exceed 105% of the current market value of the property, excluding many of the hardest hit. So if your mortgage is $210,000, your property can’t be worth less than $200,000.

The program, which begins March 4, allows borrowers to refinance into 15-year or 30-year fixed-rate mortgages at the current market rate, which hovers around 5%. This could benefit those whose mortgages carry higher rates or those in adjustable-rate or interest-only loans, groups of people who could see big rate spikes in the future. The plan, however, will not reduce the loan balance.

For instance, consider a family that took out a $207,000 mortgage at 6.5% on a home originally worth $260,000, but now valued at $221,000. If they refinance to a rate of 5.16%, they could reduce their annual payments by more than $2,300.

Homeowner stability initiative

The administration is also creating a $75 billion initiative to reduce monthly payments for at-risk borrowers by subsidizing interest rates. The goal would be to bring payments to no more than 31% of a borrower’s income.

It estimates this program, dubbed the Homeowner Stability Initiative, would help up to 4 million people. It also argues that the measure helps stabilize home prices for all in the neighborhood, maintaining as much as $6,000 in value.

The effort would help borrowers — both those current and delinquent — who live in their homes lower their monthly payments for five years. The servicer would reduce interest rates so that the monthly obligation is no more than 38% of a borrower’s income and then the government would kick in money to bring payments down to 31% of the homeowner’s income.

Servicers can also reduce the loan balance to achieve these affordability levels. The government will share in the cost, up to the amount the servicer would have received if it had reduced the interest rates.

Obama’s plan also addresses critics who say that some homeowners need extra help because they are carrying so much debt on top of their mortgages. Those with total debt — including credit cards and auto loans — equal to 55% of their monthly income must enter a debt counseling program to qualify for a modification.

In addition to providing incentives to servicers and investors, the administration will also reduce borrowers’ loan balances by up to $1,000 a year for five years if they keep up with payments.

To entice servicers to modify mortgages in the wake of continuing home price declines, the administration and the Federal Deposit Insurance Corp. have developed a $10 billion insurance fund that will pay mortgage holders additional funds based on declines in a home price index.

Attached are copies of three documents released by the White House regarding the new “foreclosure plan” announced today.

• The first document is a detailed summary of the provisions outlined by the administration today.
• The second document describes how the plan will help 3 different “families” facing foreclosure.
• The third document is a question and answer series.

This information also is available on REALTOR.org

The one group who does not benefit at all from this stimulus plan are those homeowners who have investment properties, vacation homes, or other-than-primary-residence properties that would otherwise qualify.

So what does this mean? It sounds like substantial help is on the way for millions of homeowners. Politics asides this should definitely provide relief to many homeowners who would otherwise face foreclosure or bankruptcy.

I am curious to see how many lenders/servicers/banks find these programs attractive enough to actually perform loan modifications and I suppose it will become clear during the coming weeks as details of the program are more fully understood.

The Hope For Homeowners Initiative (H4H) really fell flat on it’s face and was another example of a plan that sounded good in theory but that never panned out.

Let’s hope these ideas don’t have the same fate.

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With Obama expected to sign the $787 billion stimulus plan into law tomorrow the country will hopefully be put on the path towards economic recovery. As a homebuyer the biggest difference has to do with the first-time homebuyer tax credit.

Existing First-Time Homebuyer Tax Credit

The existing first-time homebuyer tax credit (Part of The Housing and Economic Recovery Act of 2008) authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009.

In general, the tax credit is equal to 10% of the qualified home purchase price, but the credit amount is capped or limited at $7,500. For most first-time home buyers, this means the credit will equal $7,500. For home buyers purchasing a home priced less than $75,000, the credit will equal 10% of the purchase price.

But this credit isn’t really a credit, it’s a 0% loan that must be repaid over 15 years.

New First-Time Homebuyer Tax Credit under Obama’s Stimulus Plan

The tax credit under the stimulus plan would give buyers 10 percent of the price of a primary residence bought within one year, up to $15,000 $8,000, and is intended to stabilize plummeting home prices. The major difference is that this credit would NOT be a loan that would have to be paid back. It is a no-strings attached tax credit. However, home-buyers would have to repay the credit if they sold their homes within three years.

And here are your Tucson MLS 24-Hour Change Statistics

New Listings	30
Back on Market	6
Price Increases	7
Price Reductions	55
Contingents	10
Pendings	9
Solds	11
Expireds	58
Inactives	14

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The number of licensed Realtors in Tucson continues to dwindle from an all-time high of nearly 8,000 agents a few years ago. Once the state releases the official number of agents who didn’t renew their licenses this year I expect to see a number right around 4,500.

A few months ago (before renewals fees came due) Tucson had approximately 4,800 licensed agents and apparently the recent economic punch to the gut finally took a few more hundred out of action, which I think is a wonderful thing. I still think that state needs to enforce more stringent requirements to become an agent (more schooling, an apprenticeship, more continued education) to prevent just what happened a few years ago when there was a large influx of under-qualified agents who were clamoring to make a quick buck.

Here are your 24-Hour change statistics from the Tucson MLS:

New Listings	143
Back on Market	15
Price Increases	10
Price Reductions	138
Contingents	51
Pendings	24
Solds	31
Expireds	30
Inactives	53

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This is the fourth installment in my Tucson Short Sales series, I would suggest reading part one (Tucson Short Sales – Part 1 – What are Short Sales?) part two (Tucson Short Sales – Part 2 – I’m Ready to Short Sale My Home.. What Are The Repercussions?)  and part three (Tucson Short Sales – Part 3 – How to Short Sale My Home) before reading this article.

After the offer has been submitted to the bank (typically to someone in the Loss Mitigation department), your file will probably be assigned to an intermediary or negotiator. These people have many files just like yours on their desks and their job is to evaluate each offer to see if it warrants further consideration. Many banks have a bottleneck at this stage in the process and simply cannot keep up with the number of short sale packages coming across their desks.

The bank has to know what the actual market value of the home is before it can intelligently evaluate a buyer’s offer. They will usually order an appraisal or Broker Price Opinion (BPO) to determine the market value of the property which will help them decide which course of action to take with an offer (accept, reject, counter).

The next step in the process is usually the one that takes the longest. After a valuation of the property has been completed and the offer has been deemed complete the holder of the note has to decide what to do.

You see, many times a mortgage has been resold by your mortgage company to an investor or group of investors (whether individually or in a “bundle” or other mortgages). When this is the case (the bank doesn’t hold the mortgage note), the investor(s) has to evaluate the offer and choose either to accept, reject, or make a counter-offer.

This step can be even further complicated when there are multiple lenders (80/20 or 80/10/10 loans, for example).

The short sale process typically takes no less than 30 days. There are some lenders, smaller ones usually, who can respond more quickly to an offer. I have seen short sales take seven months from contract submission to close of escrow, and I have seen countless short sales that have gone to foreclosure because the bank did not respond soon enough. This is definitely the most stressful and frustrating part of the short sale process because it involves waiting. And more waiting. And then, more waiting. Sometimes you’ll get lucky and have a responsive lender but nine ten out of times you won’t.

For the next step in the Short Sale process (End Game Short Sales) stayed tuned!

• Tucson Short Sales – Part 1 – What are Short Sales?
• Tucson Short Sales – Part 2 – I’m Ready to Short Sale My Home.. What Are The Repercussions?
• Tucson Short Sales – Part 3 – How to Short Sale My Home
• Tucson Short Sales – Part 4 – The Offer Is In To The Bank
• Tucson Short Sales – Part 5 – End Game Short Sales

If you would like to search the Tucson MLS for Short Sale, Bank-Owned, or Foreclosure homes, search for Tucson Homes for Sale or contact me for a comprehensive list.

If you would like assistance in avoiding foreclosure feel free to contact me for a no-cost consultation.

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This is the third installment in my Tucson Short Sales series, I would suggest reading part one (Tucson Short Sales – Part 1 – What are Short Sales?) and part 2 (Tucson Short Sales – Part 2 – I’m Ready to Short Sale My Home.. What Are The Repercussions?) before reading this article.

Since I wrote the first two articles in this series the Senate and House passed a Housing Rescue Plan that President Bush is expecting to enact. In short the bill will allow many homeowners who are in financial distress and who purchased a home between January 2005 and June 2007 to essentially refinance their home to 90% of the market value of their home. Read the article about the Housing Rescue Plan here.

We will continue with the assumption that you (the homeowner) has decided to proceed with the short sale process. Because the process is generally complicated with many timelines and necessary documentation, several Consumer Resource Groups have sprung up to assist homeowner’s. If you are considering a short sale please call call one of the below agencies first for FREE assistance/advice on whether a short sale is your best option.

Once you’ve resolved to go ahead with a short sale the process is relatively simple. You market the home as you normally would in a home sale, have showings, entertain offers, etc. Once you have an accepted offer, it is then submitted to the bank along with whatever documentation the lender requires; together this is generally called a “short sale package”.

Once a completed “file” is submitted the bank will then assign the file to a “negotiator” or “intermediary”. These processors generally have many files on their desk at one time and much of the timeline is eaten up here. For the next step in the Short Sale process stayed tuned!

• Tucson Short Sales – Part 1 – What are Short Sales?
• Tucson Short Sales – Part 2 – I’m Ready to Short Sale My Home.. What Are The Repercussions?
• Tucson Short Sales – Part 3 – How to Short Sale My Home
• Tucson Short Sales – Part 4 – The Offer Is In To The Bank
• Tucson Short Sales – Part 5 – End Game Short Sales

If you would like to search the Tucson MLS for Short Sale, Bank-Owned, or Foreclosure homes, search my Tucson MLS or contact me for a comprehensive list.

If you would like assistance in avoiding foreclosure feel free to contact me for a no-cost consultation.

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Since the influx of short-sale and bank-owned homes I have been waiting for the Tucson Association of Realtors (TAR) to get on board and add specific designations in our MLS system to address these items. It is entirely too cumbersome to search the Tucson MLS on keywords in the description fields when looking for a lender-owned home or home going through a short sale.

I don’t know how many times I’ve run the same search with the following keywords in the “Description field” and gotten different results: lender, bank, reo, foreclosure, foreclosed, short sale, short. And then, some agents only put these keywords in the “Agent Remarks” section (only us Realtors get to see those) so that makes it even more time consuming.

What’s the hold up? Apparently ARMLS (the MLS for the Greater Phoenix Area) has two such indicators to search on, “Lender/Corp Approval Required” and “Lender Owned Property”. Many other MLS’s across the nation have the same capability and yet we have not caught on.

It reminds me of the short sale addendum situation for TAR; I was at a special short-sale information session a few weeks ago and TAR finally has a draft of an official TAR created short-sale addendum; I just wish it would have been done last year.

Granted, most offices/companies already have their own version of a SS addendum but the TAR form should eliminate the headache of not having a standardized form.

Not only would having these additional search criteria make it easier for us Realtors but it would make it easier for consumers as well. Let’s hope it gets changed soon!

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This topic has been on my mind the past several months. When the housing market exploded a few years ago and homebuyers squeezed into homes with [tag]Adjustable Rate Mortgages[/tag] ([tag]ARMs[/tag]) with seductive initial interest rates, I said to myself, “In 2 or 3 years when those ARMs come due, there are going to be a lot of unhappy people.”

The recent follies in the [tag]sub-prime mortgage[/tag] market were an omen of trouble on the horizon and in a few more months that trouble will burst onto the mortgage scene with reckless abandon. According to this latest article from CNN.com more than 600,000 homeowners will be affected by the resetting mortgage rates.

“Delinquency rates will probably peak by the end of the year,” said Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), “and foreclosures in 2008.”

Lenders approved many borrowers who had little chance of being able to afford the payments two and three years out. They approved applications without any proof of income or assets (“liar loans”) and others that barely could make the low teaser-rate payments. Some borrowers chose interest-only ARMs, which left the principal of the loan untouched.

The epitome of the “[tag]liar loan[/tag]” fiasco is probably best displayed by [tag]Casey Serin[/tag] of IAmFacingForeclosure.com, a self-proclaimed real estate entrepreneur who acquired 8 properties and $2.2 million in debt in a whirlwind of bad decisions fueled by “liar loans.” His story and on-going road to recovery (albeit laced with self-promotion) is an interesting read.

The most troubling part of the article is when Mark Zandi, chief economist and co-founder of Moody’s Economy.com, says that 75% of sub-prime ARMS loans were made in California, Nevada, Arizona, Florida and Massachusetts.

In the Tucson market housing inventory has risen to almost ten thousand active listings, three times as many as there were two years ago. I’ve seen listings where I’ve walked in and wondered how the sellers think they can get away with asking as much as they were. After a bit of homework, I find they either refinanced their home recently, pulling out all of their equity, or bought at the height of the market. Now they can’t fetch the same prices that were existent a few years ago and may very likely fall into a short-sale situation.

For those homeowners who currently have an Adjustable Rate Mortgage and/or those of you looking to refinance, there is a great post over at BlownMortage.com entitled “Blown Mortgage’s 8 Step Program Will Save You $2,500 on Your Mortgage Refinance.” Stop by and take a look if you get a chance.

The big question is how large of an impact these ARMs will have not only on the housing market, but on the US economy in general. With some housing markets already depressed, an influx of homes on the market will send prices even further downward.

Has anyone seen a rise of [tag]short-sales[/tag] in their housing market?

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Lately it seems like news stories about For Sale By Owner (FSBO) homes vs. homes sold by real estate agents have been popping up more and more often. In many of the stories the conclusion is that FSBO homes are a better deal, financially, for the homeowner. Now I’m not saying a homeowner can’t or shouldn’t sell their own home, but I think it’s unwise to minimize the value that a good real estate agent provides. So I went ahead and made a list of the top 100 reasons you should use a real estate agentfor everyone who is thinking of selling their home themselves. Enjoy!

1. The best research tool for home buying – “ According to the National Association of REALTORS, real estate agents are listed number one (85%) for Information Sources used in Home Searches.
2. Saves you time – An agent knows clients lead a busy life with work, family and kids. A real estate agent takes the time necessary to ensure a smooth transaction with the least amount of intrusion into your life as possible.
3. Less stress – Buying a home can be a stressful experience. Agents take the worry out of the home buying or selling experience. They do the work for clients so that means less stress in the long run.
4. Peace of mind for the future – Agents know that buying a home is a big investment that clients will make for their future. Agents work with clients with this in mind, but also want to give their clients peace of mind that they will be enjoying their home for many years to come!
5. Security for yourself and your family – By helping you find that perfect home for you and your family, agents care about clients and their well-being. An agent is going to take that extra step to ensure clients and their families are happy and secure with their new home purchase.
6. Professional advice – Agents will take the guess work out of the home buying/selling process. An agent will offer you step-by-step instructions on the entire process from beginning to end.
7. Top-notch negotiation skills – Agents have the necessary skills to negotiate the sales contracts with the other party and close the sale with the best price for clients.
8. Paper and more paperwork – Agents have the professional expertise to read contracts and understand legal terminology that the average person may find frustrating. An agent takes the hassle out of the paper trail.
9. Showing your home – Agents will show your home to potential buyers and prepare flyers and handouts with details and photographs of your home.
10. Networking opportunities – Because real estate agents are eager to help their clients, they will promote and talk about their houses or inquire about potential new homes for clients every opportunity they get.
11. Access to property listings – Agents have information about properties that aren’t publicly advertised and can research listings that are not listed on public multiple-listing services.
12. Analyzes clients’ buying or selling power – Agents will counsel clients and advise them accordingly on how to maximize their buying or selling power.
13. Access to mortgage brokers/lenders – Agents can refer clients to viable brokers and lenders they have worked with in the past, helping them finds the best financing options available.
14. Consistent communication – Agents are in constant communication with clients, apprising them of latest information on latest listings and leads.
15. Customer service -Agents offer that personal, customer service touch that a computerized listing or ad cannot offer.
16. Techno-friendly – Agents have the latest technology at their fingertips, whether it’s searching the Internet for listings, emailing clients from their laptops, or typing an instant message on their PDAs. Because they are techno-friendly, they are able to prospect faster and communicate with clients quickly.
17. Property Inspections – Most properties are inspected before sales are closed. Agents provide clients with referrals to professional inspection companies and works with inspectors to expedite necessary reports (termite, home inspections, etc).
18. Property Appraisal – For clients who are interested in home appraisals, agents can refer clients to reputable appraisers and companies.
19. Understands specialized loan programs – Agents have access to information about specialized loan programs (i.e. loans for physicians) and can refer clients to lenders who deal specifically with these loans.
20. Works well on deadline and under pressure – Time is of the essence when negotiations are on the table. Agents understand and adhere to time-sensitive deadlines and can work well under pressure to meet these deadlines.
21. Closing the sale – Agents guide clients through the closing process and are there to answer any specific questions clients may have about closing costs, paperwork, etc.
22. Advertising gurus – Agents will actively advertise property listings for clients. Agents don’t blindly advertise, they strategically know when, where and how to advertise listings and also use multiple-listing services.
23. Availability – Agents are readily accessible to clients and their needs. Agents not only work during the day but also work weekends and nights (only when they have to!). Agents will work around their clients’ busy schedule to meet with clients and show houses.
24. The seller doesn’t have to stay home! – Clients can trust agents to show their homes without the clients being there. Clients are busy people and agents acts as their personal sales representatives when showing homes to buyers.
25. Staging your home – Agents want their clients’ homes to show well. Agents will refer clients to professional home stagers or will work with clients to maximize the full showing potential of their home.
26. Creative listing techniques – Agents know how to emphasize unique selling points in their clients’ listings to catch prospective buyers attention (i.e. “A National Historical Society Queen Anne charmer built in the late 1800s”).
27. Connections with title companies – Agents work closely with title companies and can refer clients to professional contacts they have worked with in the past.
28. Understands real estate law – Agents understand real estate law and can explain them to clients and also refer them to professional legal counsel for further information.
29. Marketing experts – Agents are highly specialized when it comes to marketing techniques and will showcase and promote properties in the most appealing ways ranging from promotional flyers to listing websites.
30. Knowledgeable about the financial transaction – Agents have experience closing the deal, especially when it comes to the financial aspects of a transaction, such as closing costs, etc.
31. Relocation services – Many agents specialize in relocation services for those buyers/sellers who are moving out of or into the area (especially cross-country moves/sales).
32. Financial counseling – If clients have financial/credit issues, agents can make recommendations for credit or financial counseling to help clients better financially prepare for buying a home.
33. Prospecting buyers – Agents will work closely with other agents to prospect buyers when selling clients’ properties.
34. Cultivating sellers – Agents will actively cultivate leads with other agents who are selling property that fit their clients’ needs.
35. Future growth – Agents know about the future growth in towns and cities and advise clients of homes listed in redevelopment areas.
36. Real estate market trends – Agents are constantly researching and finding out the latest information on real estate/housing market trends.
37. Census data – Agents have access to local and national census records and can research census data for specific areas/cities/counties.
38. Zoning - Agents know about zoning laws and regulations in particular cities and neighborhoods and refer clients to more knowledgeable sources if necessary.
39. Low income clients – Agents can work with low-income clients and refer them to local government redevelopment agencies for lower income housing opportunities and financing that might be more affordable.
40. Federal programs - Agents will also refer clients to government-based funding agencies (like HUD) if clients are struggling with financing options.
41. Cleaning services – For relocation clients, agents can recommend cleaning services to make sure properties are spotless before their clients arrive in their new home.
42. Moving companies – For clients moving out of state or long distances, agents can suggest reputable moving companies for clients.
43. City/town information – For clients moving into a new city or neighborhood, agents will provide local relocation/welcome packages so they can better acquaint themselves with their new location.
44. Local media and television – For news-savvy clients, agents have updated lists of local television stations, radio stations, newspapers and magazines.
45. Storage Facilities – When clients relocate, they might need a temporary storage unit. Agents can help clients find nearby, affordable storage facilities.
46. Restaurants – For clients who enjoy fine dining, agents have updated information about local and popular restaurants in the area.
47. Night Life – For jet-setting clients, agents can provide clients lists of local bars, clubs, movie theatres, concerts, comedy clubs and entertainment venues.
48. Sports - For sports enthusiasts, agents can provide clients with information/ticket prices to professional sports teams, stadiums, sports arenas and game schedules.
49. Hotels/Hospitality – When relocation clients visit a city or town to look at property, agents can provide lists of affordable hotels and motels in the local area during their stay.
50. Outdoor Recreation – If clients are interested in outdoors activities, agents can provide contacts for local outdoors recreation in that particular area (i.e. hiking, skiing/snow boarding, kayaking, white water rafting, rock climbing, etc).
51. Gyms/Health & Fitness – For health-minded clients, agents have lists of local gyms and health and fitness facilities in their clients’ neighborhoods.
52. Medical facilities – Agents have information to share with clients about local medical facilities, hospitals, dentists, doctors, and chiropractors in their local neighborhood.
53. Utilities - Agents have updated information about local utilities, cable TV, satellite dish companies, etc. to pass along to clients.
54. Professional Movers – Not only can agents provide lists of moving companies, but they can also refer clients to professional moving companies who can help make life easier by packing for them.
55. Repairs - If a home buyer or seller needs repairs made on their property, an agent can refer clients to licensed contractors and vendors.
56. Schools - For clients with children, agents can provide listings of schools, school districts, PTAs, etc.
57. Spas/Salons – Agents can provide clients with information about the closest hair salon or full-service spa in their neighborhood.
58. Banks - For clients who are in need of banking services, agents can pass along information about local bank branches and financial institutions in the nearby vicinity.
59. Local Services – For clients moving to an unfamiliar town or city, agents have information about local amenities such as copy services (i.e. Kinko’s), dry cleaners, gas stations, car washes, etc.
60. Daycare/Child care – For those clients seeking child care, agents can provide lists of daycare and child care facilities in the local area.
61. Auto dealerships – For those clients relocating to the area and are in search of buying a car, agents have listings of nearby auto dealerships.
62. Home Security – Agents have contacts with bonded, reputable home security companies if clients are interested in installing a home security system.
63. Local special events/cultural activities – Agents stay on top of the local special events and cultural activities native to the area and can provide clients with a calendar of events.
64. Auto Transport – For clients moving into or out of the area, agents have contacts with professional auto transport companies that ship cars across the country (if clients don’t want to drive cross-country).
65. Historical sites/points of interest – For clients relocating or moving to historical cities or towns, agents can provide maps of nearby landmarks and points of interest near their property.
66. Commuter/traffic information – “ For clients who will be commuting to a larger city outside of their area, agents have information about van pools, commuter car pools and maps of local highways and toll roads.
67. Emergency Services – Agents know where the closest fire departments, police departments, and EMT services are located in relationship to a particular neighborhood.
68. Public transportation – For clients moving into cities and larger towns, agents have current information about the public transportation system (i.e. subway schedules, bus line information, etc.).
69. Local airports/train stations – For those clients who are on the go and travel a lot, an agent can provide information about local airports and train schedules.
70. Homeowner associations (HOAs) – Agents can advise clients of any homeowner association dues if they plan to move into a planned urban development.
71. Retail/Shopping – Agents can also provide listings of local retail and shopping establishments including grocery stores, malls, outlet stores, etc.
72. Recreational districts/parks – For families, agents have listings of local recreational districts, children’s sports league, and public parks information.
73. Government - For politically-minded clients, agents can inform clients of local city government representatives and town hall information.
74. Weather - Clients who are relocating out of state or out of the area and aren’t familiar with the local weather, agents can apprise clients of average rainfall and local temperatures and climate conditions.
75. Employment - For clients who are relocating and need to find employment, agents are able to refer clients to staffing agencies and can provide information about top corporations and businesses hiring in the area.
76. Tourist attractions – For clients moving into tourism-based areas, agents can provide listings of well-known tourist attractions (amusement parks, water slides, etc).
77. Safe Neighborhoods – Agents will provide crime statistic resources to help clients choose safe neighborhoods/locations.
78. Working with lending companies – Agents can provide interface with lending institutions to help clients determine their budget/price range.
79. Competitive pricing – According to the NATIONAL ASSOCIATION OF REALTORS®, the home price for sellers who use a real estate agent is 16% higher than those who do not use an agent.
80. Open houses – Agents know how important open houses are for their clients and are an effective marketing tool when it comes to the selling process.
81. Real estate boards - Many agents have affiliations with professional real estate boards and pay members dues.
82. Education and experience – Agents must pass a specialized real estate board exam in order to obtain their real estate licenses before they can practice real estate. Professional experience coupled with real estate knowledge is why agents are hired.
83. Continuing education – Agents are always learning and attending innovative classes about sales techniques and best business practices and are usually required by state law to take a minimum number of hours of renewal classes per year to retain their license.
84. Credentials - Agents attend educational seminars allowing them to earn credentials to make them more knowledgeable and specialized in the field of real estate (i.e. GRI, Relocation Specialist, etc).
85. Internet research – Agents surf the Web to find other agents’ sites, multiple-listing services, ads, neighborhood data and statistics, etc. Agents are skilled at using the Internet in order to house hunt for clients.
86. Personalized website – In this technological era, agents have their own personal web sites which makes finding information easy for clients and a great marketing tool for agents to advertise their company and services.
87. Code of Ethics – Agents abides by a strict code of real estate ethics. Agents act as sole representatives in the best interest of their clients.
88. Develops lasting relationships for future business – Agents develop a long-standing, professional business rapport with clients in order to generate outside leads and with clients themselves (they may want to buy or sell in the future).
89. Professional signage – Agents take pride in their professional signs that are displayed in front of properties. Agents use these signs as effective marketing tools to generate prospects and leads for clients.
90. Answering questions after closing – Agents will spend time with clients to ensure they are happy and all questions are answered after the property’s sale has closed.
91. Knowledge about properties – Agents study and research the details and features of clients properties so they are able to answer questions prospective buyers may have.
92. First time home buyers – Agents know that buying that first home is a big step and a huge investment. They will work with clients to make sure the first time home buying experience runs as smoothly as possible.
93. Classes for first time home buyers – Agents can refer first time home buyers to first time homebuyer classes or provide a class on site at their real estate company (if offered).
94. Location, location! – Agents will work with clients closely to meet their location needs, whether clients want that remote cabin in the wilderness or a posh new home in a sprawling urban development in the suburbs. Agents have the necessary tools to research that dream location for clients.
95. Interior designers/home improvement – Agents have contacts with professional interior designers for clients who are looking to renovate and update their property.
96. Homeowner’s insurance – Agents can refer clients to reputable homeowner’s insurance companies who offer reasonable, competitive rates.
97. Flood insurance – In certain states and cities, clients who buy homes in flood zones are required to buy flood insurance. Agents can provide clients with necessary information and refer clients to insurance companies who handle flood insurance.
98. Strong team support – Agents, whether working for a big or small real estate company, work with a supportive staff. When agents are not readily available, their full-service team can help assist clients and find out the information they need.
99. Tax information – Agents are well-versed about property taxes and will communicate the necessary tax information to clients.
100. Value - Agents value your time, your hard-earned money and your future investment as a home/property owner.

Why Use A Real Estate Agent?

Agents will save you time, energy and the stress. Wouldn’t it be nice to receive that call from a friendly voice saying, “Guess what? You have a new home!” or “I just sold your house!”

But most importantly, a real estate agent takes the hassle and guesswork out of buying/selling a new home or property. When you choose to work with a real estate agent, you are choosing professional sales representation.

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