We Help U Buy: Pre-Foreclosure, Short-Sale, Trustee's-Sherrif's, Bank-Owned (REO), Auction, Estate, Court Ordered, HUD Homes, Foreclosure, New Construction, Tear Down Lots, Condo's, Co-ops, Regular Resale, Investment and Commercial Properties, EB-5 Investors (gives a path to legally immigrating to United States).
Options for 1st Time Buyers: 620+ credit score, no money down, $500 closing cost; CHIP, VHDA, VHDA+, MIPAP, FHA, FHA+, conventional w/ 5% & built-in MI, 203K w/ renovations wrapped into the loan, getting a gift, using a 1 time exemption to withdraw from 401K penalty free, etc....
Government incentives: Mortgage interest deductions from federal income tax; Local and state property tax deductions from federal income tax; Home equity loan interest deductions; Capital gains exemptions from the sale of a home; Large allowances before the estate tax; Down-payment assistance; Interest rate “subsidies” from Government Sponsored Enterprises (due to the perceived backing by the federal government); VA loans for veterans; FHA loans for moderate-income households; ability to pass property on death to heirs with step-up basis; when elderly a reduction of property taxes.
If you are an investor: depreciation; costs incurred for management; ongoing operations; maintenance; 1031 exchange deferring capital gains tax.
Likely reasons for existence: Multiple scholarly papers exist showing correlations b/w homeownership and: +educational attainment, +happiness, +health, +participation in civic & volunteering activities, +children of homeowners do better in school and have better social outcomes, home owners pay 80-90% of federal income taxes, +mental health, -crime, etc.
Why you want to do it: The median net worth of a renter was $4,800 compared with $171,700 for homeowners in 2001 and according to 2004 census average renter’s equity is $4K vs $185K for a homeowner (historically 31-46 times higher net worth). Furthermore, since 1975, practically all the gains in household income have gone to the top 20% of households. If the economy is doing good then who is benefiting? How can you hedge and protect your future? I can find you 3 homes with mortgage payment less than your rent!
We Help: Understand the process; point out unnoticed features or faults with a property; Find the right home; Negotiate the price; w/ terms of the Sale; Provide advice to help you make informed decisions; Safeguard confidential information that might weaken your bargaining position, act at all times in your best interest; help you evaluate pros and cons of specific properties; assist you in determining what a fair market value is likely to be; work with you to develop negotiating strategies specific to the particular property and sellers, advise you regarding the most favorable price and terms to offer, advocate your position throughout the process, make it fun and easy.
In a more complex language :)
||Market Position Analysis
||Comparative Property Alternatives
|Situation and Objective Analysis
||Optimization of Investment Returns
Thanks for stopping by,
Elena & Kirill
Real Estate Guide
Lenders / Home Inspectors / Contractors
Additional Buyer Handouts
Top Reasons to get a Buyer's Agent
- Gain invaluable details about the properties you're considering, Title Reports, Permit Info, Previously Sold Data, CMA's and detailed information about the Sellers that the Seller's Agent can't ethically provide.
- An Exclusive Buyer's Agent can negotiate on your behalf. The Seller's agent cannot.
- Discretion, confidentiality, loyalty, and obedience.
- We can help you find Lender Foreclosures, Bank REOs, and other properties that may not be listed for sale on the market.
- Our services can save you thousands of dollars.
Advice from the Experts
"Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process." — CNNMoney.com
"Many people don't realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer's broker, representing only the buyer, may be able to secure a better price and better terms." — Good Housekeeping
"Always remember that a real estate broker does not work for you, but for the seller. If you want an agent on your side, contract with a buyer's agent." — Reader's Digest
"Buyer's Agents work only for consumers and can save them money - and they don't cost more to hire." — Los Angeles Times
"If you ever doubted the value of real estate agents who work solely for home buyers (as opposed to traditional agents who report to sellers), consider this: A recent study by U.S. Sprint found that 232 relocating Sprint employees who hired buyer's brokers paid an average of 91% of a home's list price. People who use traditional agents typically pay about 96%." — Money Magazine, "House Hunting? Save By Hiring Your Own Agent", By Carla A. Fried
FYI: Highlight of requirement of 54.1-2137 of the Code of Virginia amended on July 1, 2011:
"Brokerage agreements shall be in writing."
"Agents are not allowed to show a property without a brokerage agreement."
"Giving any opinions or advice about a property’s condition or what repairs to make or ask for."