So....this came up yesterday in a FB page that I am a part of.... This family is wanting to meet with a builder and have a home built, so she was asking the group members about a few different local builders. In our area, there are some really good builders, and some....not so great... builders. This woman was doing a great job in asking about others experiences with these builders, and doing research. The one thing that did, of course, come up is if she has her OWN Realtor, or if she was going to just use the builders Realtor/representative.... So, in doing her own research... she asked why it would be important for her to have her own Realtor....
In short, having your own Realtor during the build (or any purchase) process gives you someone in YOUR court. The builders rep (&/or sellers agent) works for the builder/seller...that's their employer.
YOUR Realtor works for you. If something comes up during the build/buy process, the builder/seller is more likely to negotiate, or make things 'right' when you have your own Realtor working for you.
For example, one of my clients was having a new home built with a guest room & full bathroom on the main floor for her disabled mother who comes to stay/visit. This was very important to her...to have a shower her mother could easily access & maneuver in, and this was mentioned, and discussed, quite a few times during the beginning with a variety of the builders personnel...including the builders Realtor/Representative. Fast forward to the main floor bathroom & shower install, and it is a standard fiberglass shower install....you know...with the 2 'seats' on the ends...and not enough room for her shower chair. My client was understandably distraught, and contacted the builders rep who told her that it was "too bad since it was already installed, and the builder wasn't going to re-do it." I like to drive by and check in on the my clients new build, and it just so happened that I went by that afternoon. I was in the house when my client called me...crying..., and told me about her conversation. Well, that was simply not going to work..... so I contacted the builders Realtor/Representative, AND all my other connections with the builder. The builder agreed that this needed to be corrected, and the builder had the standard fiberglass shower taken out, and replaced with a shower tray and a beautiful shower tile walls.
So, what was the difference? My client had her own Realtor who was able, and willing, to go to bat for her. Builders (at least most of them...but not all) do work well with, and prefer to have a Realtor on the other side as we can head off a lot of issues before they become issues. We are always looking for a win-win solution, and will bring more of our clients over to build with a builder who provides excellent homes, communication, and workmanship.
Think of your Realtor like the Genie in Aladdin. It's like having some 'power in your corner now ... some heavy ammunition in your camp', and after the sale is complete, you STILL have someone to turn to with questions, or concerns. Another bonus with having your own Realtor is that it is another set of eyes during the build who will be looking for things you don't even know about, and that the builder might not tell you.
I've even built my own home...once with a builder, and once on my own land. With your own Realtor, you can ask anything...even something you might be embarrassed, or unsure about, to bring up with the builder. Your Realtor works for YOU...not the builder/seller. Most Realtors have worked with the majority, if not all, of the builders in our area. We know the 'good' ones, and the ...well, not so great ones. We know which ones will charge you for Every. Single. Thing, and which builders include a lot of upgrades in their packages. Many times, we even know of upcoming developments. We will tell you the pros & the cons of all the builders because we, as Your Realtor, work for you...and not the builders.
I can never stress this enough... think of your Realtor as GPS... you have a destination in mind, and our job is to help you get there....and yes, sometimes Mayhem happens, and we have to re-calculate... We can do that! We got you!
...and having Your Own Realtor in the build, &/or purchase, process is at NO cost to you, the buyer.
So...what are you waiting for? Give me a call, or email today. Let's make some magic happen!!
Real Estate broker
Re/Max - Van Mall
360/ 903-3504 cell
Facebook: Tracie DeMars Real Estate
"Listen to the mustn'ts, child. Listen to the don'ts. Listen to the shouldn'ts, the impossibles, the won'ts. Listen to the never haves, then listen close to me... Anything can happen, child. Anything can be."
- Shel Silverstein, American poet, cartoonist and composer, (1930 - 1999).
So... recently people have been asking, "WHAT IS UP with this market?!" So... let's talk about it...
I've been a licensed Realtor for 16 years, and I have never seen a market like this. I teach home buyer and home seller classes (for 15 years) so excuse me as I go into 'teacher phase'.
It is being driven by a couple of things... One is the crazy low interest rate, and Second is the lower than normal inventory of homes for sale. This is NOT a typical market. The real estate market usually runs on a fairly predictable cycle. On 'average', the best time of the year to be a buyer is what I call, "happy hallowthanksmas". This is November through early February. This is the time of the year when inventory is usually the lowest, but there is usually the least amount of buyers on the market too. Nobody likes to move during the holidays, and during the crappy weather. The best time of the year to be a seller (usually) is late February through April. This is the time where we see the most buyers on the market due to income tax refunds, but the home inventory (while better than during the winter) is still pretty low. This is the time of the most multiple offer situations.
Most home owners list after spring break and through early June. This is where we see the market level off a bit and is a good time for buyers & sellers.
After kids get out of school in early-mid June (remember those days?), we see less buyers and more home inventory. Late June, July, & August, is usually a good time to be a buyer. For buyers this is where most have less money for down payments/closing costs, earnest money, inspections, & appraisals, as they have more costs at home with kids out of school, daycare, summer vacations, and then the costs of getting ready for kids to go back to school (we can hope)...not to mention that it is hot. It is funny, but the hotter it is, the slower the housing market as most people would rather go to the lakes, beaches, & rivers than go see houses....go figure... LOL.
Then the market 'bounces' back in a September/October rush for people to buy home to be into before the holidays....and then we are back to 'happy hallowthanksmas'. This is USUALLY the predictable nature of the market.... unless something comes along and throws a wrench in it.
Remember when the teacher strike occurred? We didn't see that 'back to school - be in the home before the holidays' rush and the market remained slow all fall and winter. Killer deals for buyers occurred during this time.
Last year was... peculiar... we have never had something like that happen before...
2020 threw everyone for a loop. When the shut down first occurred the market went D-E-A-D. I mean.... it, like everything else... dropped. Then about May, people were like... HELLO HOUSING! ....and we bounced back in a big way. Most of this was because the interest rates bottomed out to rates never before seen. This, and the fear of rising interest rates (which IS happening) drove buyers out in droves. Unfortunately, for a lot of homeowners, it also prevented them for being able to secure their next housing, so many homeowners who would like to sell, are not selling. Also, with COVID, many homeowners are not comfortable with selling and having strangers walk through their homes. Builders are building like crazy because of the lack of established home inventory, but their costs are also being driven up considerably due to rising material and labor costs. Trusses alone went up 30% in one quarter. Those costs are, of course, being passed along to buyers. In fact, some builders are changing prices AFTER the contract is written and accepted...and right before closing. If buyers don't agree to the new costs, the builders are returning the previous buyers deposits, and then putting the homes on the market for even more... and getting offers at the new price.
It is brutal out there... So what needs to change? As an industry, most of us Realtors are hoping (beyond hoping, we are praying) that with the Vaccines, kids back in school (at least a little bit), and with spring & summer around the corner, that more homeowners are comfortable with the idea of selling and we see more homes come on the market. To do this, we need more sellers comfortable with contingent offers. It's hard to get a contingent offer accepted these days... and this means a lot of home owners aren't comfortable (and for good reason) with putting their home up for sale. No one wants to be homeless....
Honestly...interest rates are rising. This will start to bring down prices, but not the costs of your mortgage. This year, and next year are most likely 'transition years'. We need to transition to a more balanced market... this means higher interest rates, and home prices coming down. However, mortgage payments will remain the same, or go up a bit on the lower priced homes....because the interest rates are higher. You, as a buyer, are not pre-approved for a purchase price... you are pre-approved for an interest rate which calculates to a mortgage amount...based off your Debt to income ratio. The higher the rate, the less you are pre-approved for....and your interest rate can't be locked until you are about 30 days from closing. This is where building becomes especially stressful right now as rates have started rising.
I can go on further, but this is already SO LONG! Sorry... more information is available at the www.learningtobuyahome.com website and the blog/vlog there
Thanks for coming to my TED talk.... LOL