Stepping Through the Buying Process

So you're thinking about purchasing a home, but you're not quite certain where to begin. Throughout the next several entries, I will outline -step by step- the best method for finding just the right home!

Step One- Find Yourself a Buyer's Agent

APPOINTING AN AGENT:

Once you have decided that you’re ready to buy a home, it’s time to find a real estate agent. It’s true that the Internet has come a long way in allowing home buyers to search the web for homes that meet their criteria. Additionally, I can’t argue that spending a Sunday going around looking at open houses isn’t a lot of fun (because it can be!). However, I can say for certain that having your very own agent is the most efficient method of finding YOUR home.

SHOULD YOU HIRE A BUYERS AGENT?

The benefits of having your very own buyer’s agent are numerous! See below for a list of the full range of services provided!

FINDING THE RIGHT AGENT FOR YOU

It’s essential that you have a good rapport with the real estate agent that you decide to work with, as you will likely be spending a lot of time together. Your real estate agent should be thrilled to work with you and also be well acquainted with the areas of town you’re interested in.

HOW ARE BUYER'S AGENTS COMPENSATED?

You may be amazed to learn that buyer's agent services are (in most cases) free to the buyer! In most instances, the listing broker of the home you purchase pays the buyer’s agent.

HOW DOES BUYER AGENCY WORK IN WISCONSIN?

Understanding Buyer Agency:

Buyer Agency is an agreement between agent and buyer in which the agent represents the buyer throughout the entire buying process. Buyer Agency was created in response to buyers’ desires to have agents work in their best interest as opposed to the sellers’ best interest.

Services Provided by Buyer's Agents:

• Express a professional opinion of the seller’s asking price, based on a home valuation

• Recommend & assist you with negotiation strategies for best price/terms

• Negotiate exclusively on your behalf throughout the transaction

• Analyze a seller’s property beyond disclosing defects

• Advise on, write the offer, and draft provisions in your best interests

• Protect your confidentiality

• Treat you honestly and fairly

• Respond honestly and accurately to questions concerning the property

• Provide community data and current market conditions

• Present contract proposals in an objective and unbiased manner

• Accompany you to the closing and assist you throughout the process

• Disclose “adverse facts” about the property

In short, buyer agency representations allow the agent to bypass the Wisconsin state law that states that the agents' duties are singularly to the sellers (of the homes the buyer is viewing). The Buyer's Agency Representation therefore switches the agents' fiduciary duties over to the buyer.

The Awareness Chasm

In this entry, I’d like to address the current portrayal of the housing market in daily media. The abundance of inconsistent information in the headlines is cause for great confusion among prospective homebuyers and homeowners alike. These reports are at times not especially enlightening and often lack depth and completeness. This is not to say that there is not more mindful media available on the current status of the housing market. Relevant, insightful articles do exist, but they’re often featured in business-focused journals, news sections, and blogs, which may require greater effort and curiosity by reader to seek out. Therefore, the all too often occurrence of the catchy, attention-grabbing negative headlines cloud the consumers’ perception and create a prevailing negative view of the housing market. I urge you to take the following into consideration: despite the doom and gloom portrayed by the media, much of the refined analysis about housing is vastly positive. An article recently published in The Wall Street Journal (linked below) is very optimistic in detailing how the housing market is poised to make significant gains. Overall housing affordability has dropped beneath pre-housing bubble levels in more than two-thirds of the country, raising affordability to an all-time high. Additionally, interest rates are low, demographics are encouraging, and household formations are on the uptick. This isn’t to say that conditions in the housing market are perfect, because they have much room to improve, but things are most certainly looking up. 

Wall Street Journal - Why It's Time To Buy
http://online.wsj.com/article/SB10001424052702304563104576361522020024248.html

We're No April Fool's

Hi folks!

April is finally here! We had a bit of snow on the first, but I think it’s safe to say that winter is behind us now. I took a walk yesterday without a jacket and it was just lovely! It’s been an exciting start to April already, with lots going on everywhere!

In the real estate world, activity is dramatically picking up. The real estate market is very cyclical in our area, with fewer showings and transactions in the fall/winter than in the spring/summer (which makes a lot of sense considering the climate and snowfall during our winter months). With all of the snow now melted and the temperatures rising, home buyers and sellers are on the move- open house attendance has increased, more homes are coming up on the market, and agents are busy helping to facilitate transactions.

In my personal world, April has been bustling as well (hooray)! I assisted a client in writing his first offer to purchase a home, got some spring-cleaning accomplished, saw a concert in Milwaukee, viewed some stunning homes on the broker’s open tour, and attended my very first Zumba dance class (which was incredibly exhilarating!). 

Oh hi, Milwaukee!

It's exceptionally nice to live in a uniquely central location such as Madison,

 because it allows for day-trips to numerous big cities (Milwaukee, for example)!

Enthusiastic Concert-Goers:

The Hubby & Myself

Photograph locations: 

Wisconsin Ave, Downtown Milwaukee &

Riverside Theater, Downtown Milwaukee

Cheers, everyone!!

A bit about me.

Allow me to introduce myself, I'm Danielle. I live and work in one of the most charming and enriching cities in the Midwest, Madison, Wisconsin! After graduating with a Bachelor's in Psychology from University of South Florida, I made my trek up north with my hubby, in his pursuit of a Ph.D. at UW-Madison. Ever since the day of our arrival, we have become increasingly enamored with our new home and community here in Madison. Present day, I am a licensed Realtor® in the state of Wisconsin and I am a Residential Real Estate Advisor at Stark Company Realtors. I love my job for the very reason that it allows me to meet interesting people each day and help them through all the ups and downs (mostly ups, of course!) of the home buying and selling process. Madison is a unique city with everything from interesting architecture, to scrumptious food, to gorgeous parks, to a vibrant music scene. How could one not adore a city with nicknames like: Madtown, The Berkeley of the Midwest, and (my personal favorite) 78 square miles surrounded by reality. Warm weather is on its way, and so too are blossoms, chirping birds, and beautiful bright sunshine.  

Some mementos from last summer:

Pope Farm Park, Madison, WI

July 2010