Do I need a Realtor(R) to purchase a new home?

Should I use a REALTOR® to purchase a new home from a builder?

Recently I spoke to a woman who bought her home directly from a builder.  She felt that she did not need a REALTOR® to buy the new home.  I said that many people have successful transactions buying directly from the builder.   I did say to her that I believe that there are benefits when using a REALTOR® when purchasing a new home from the builder.

The builder knows that they will sell so many homes with and without an agent.   The builder has budgeted that into their bottom line. 

One benefit of using a REALTOR® when purchasing a new home is that the agent can assist you when choosing the lot.  Sometimes the builder has one particular lot that is more difficult to sell than another?  Maybe they might offer you a discount for that lot?  If the builder is having a hard time selling that particular lot, maybe you will too?

The REALTOR® can help choose amenities that will make your home more salable in the future, ie more money for you.

The REALTOR® can help negotiate and make sure you are getting fair rates and closing fees, many builders have their own lenders that you are “encouraged” to use.

I sold a new home last summer.  The home would not be ready for about 7 months.  My seller, against my advice, wrote his contract non contingent on the sale of his home.   As we know the market is slower and prices are not where they were in the past.  The looming settlement date of the new home was coming and my client was stressing.

 I contacted the builder and negotiated an extra $40,000 in closing fees for my client AFTER they had already ratified their contract months ago. My client told me that he would have never thought to negotiate the terms I did and the ending may not have been so smooth. 

Both homes have sold and everyone is happy.  My client always tells me how happy he is with me and my services are invaluable.  He has told me that he knows using me saved him money.

It doesn’t cost you money to take your REALTOR® with you to purchase a new home, but I could cost you money in the long run to not use a REALTOR®

For more information contact Audrey at Audreyjune.com  

Photo flickr.com

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Super Single Family Home Silver Spring, MD

Audrey June-Forshey | RE/MAX Reatly Group | 301-921-2672 4013 Jeffry Street, Silver Spring, MD Move right in to this light and bright detached home! 3 Bdrm Single Family House offered at $369,900 Year Built 1959 Sq Footage Unspecified Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking 4+ Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION Nothing to do here, move right in. This home has been freshly painted and carpeted. The bedrooms have hardwood floors and the kitchen has been totally updated. see additional photos below ADDITIONAL PHOTOS Seller contact info: Audrey June-Forshey RE/MAX Reatly Group 301-921-2672 For sale by agent/broker Equal Opportunity Housing Posted: Apr 3, 2008, 10:07am PDT

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Single Family Home Rental Gaithersburg, MD

Audrey June-Forshey | RE/MAX Reatly Group | 301-921-2672 20007 Mattingly Terrace, Gaithersburg, MD Great Single Family Detached Home! 3 Bdrm Single Family House $1,875/month Bedrooms 3 Bathrooms 3 full, 1 partial Sq Footage Unspecified Parking Unspecified Pet Policy Cats, Small dogs ( Deposit $1,875 DESCRIPTION What a find! Single family home in move in condition. New appliances and countertops. Gorgeous brazilian hardwood floors and cozy fireplace in the living room. Finished basement, fabulous master suite w/ cathedral ceilings and bath with 2 person soaking tub & separate shower. Garage/driveway & backs to trees with patio. see additional photos below RENTAL FEATURES Air conditioning Central heat Fireplace Hardwood floor Living room Dining room Dishwasher Refrigerator Stove/Oven Basement Washer Dryer COMMUNITY FEATURES Garage parking LEASE TERMS Pets considered on a case by case basis with an additional $400 deposit. Available 5/28/2008. Application fee is $35 per person, accompanied by photo id and copy of paycheck stub. ADDITIONAL PHOTOS Renter contact info: Audrey June-Forshey RE/MAX Reatly Group 301-921-2672 Equal Opportunity Housing Posted: Apr 11, 2008, 10:03am PDT

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Washington DC Cherry Blossom Festival 2008

If you have never seen the Cherry Blossoms along the Tidal Basin in Washington DC, youare missing one of nature and man’s most breathtaking  sights!!  Every year the parks services work at trying to predict the peak of the blossoms.  This year they are anticipating March 29th!  If you have a chance you should try at least once in your lifetime to come to Washington during the early part of Spring to see it.  

Not only is it just viewing the blossoms, it is an entire festival the Official Cherry Blossom Website .  There are walks, and tours, there is also a big parade. You can kill two birds with one stone and visit the Nation’s Capital.  

Washington DC has several hip trendy neighborhoods with fabulous restaurants and shopping.  Even locals flock to see the beauty of the Cherry Blossoms.

There are endless things to do here.  Take in a show at the Kennedy Center  it will as big as any New York show, Smithsonian Museums with some of the great art and wonders of the world.  You should consider coming to DC and experience this fabulous gift of nature!

If you can’t make it this year, try to add this to your “bucket list” to make sure you see it in your lifetime!

Hope you can make it!

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Cool Radio for your computer

We just found this really neat website for music.  It is www.Pandora.com .  You sign up, it is free, it feeds through your computer.  The really fun thing about it is if you want to listen to a certain genre, then it play music from different artists of that genre.  So if you are in the mood for Jack Johnson, then you will get a mix of Donavan Frankerieter, or Matt Costa.  If you like Country, that is what it plays.  No commercials that I heard? Really cool.

I know you youngsters have known about this, but for me this is really great. Thought I would share it with the rest of you that have not heard of it. 

Have a good evening.  Check it out, I hope you enjoy it.

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Choosing your first REALTOR(R)

So you are thinking about buying your first home and you are not sure where to start?   The first thing you should consider is the agent. This is the person that is going to be your advocate and will represent and guide you through the transaction. Get referrals from friends and family that have purchased and sold real estate.  Look on the internet; see if anyone appeals to you. 

When you make your initial call to the agent ask them if they do a buyer consultation prior to looking at houses.  You will want to work with an agent who does this.  It will prepare you for the transaction.  You will be a more confident buyer and have a smoother transaction.

You should have a list of question that are important to you and make sure you get clear answers from the agent.  These are some of the basic items you should expect to cover in a buyer consultation appointment.   

I give my potential clients a buyer packet.  It has local area information, information about me, and a blank copy of the forms we will go over and that you will be asked to sign.  I also include a home buyer’s guide that has a copy of the contract that you will sign, a HUD-1 and a glossary of terms.

• The agent should give you a clear understanding of who represents whom in the transaction, how the agents are paid. Together, you should go over the Buyer Broker Agreement but not pressured to sign it.  Remember, you are interviewing the agents.  You should be able to walk away and digest the information.  If the agent is the one you want to work with, you will call them and let them know “they got the job”.
• Your potential agent should be able to discuss and explain your closing costs.  You may ask if in your market is it customary for sellers to pay any of these fees.
• You should get an idea of what your approximate monthly payment will be and how it is broken down.  You will confirm this information with a professional lender, but the agent should be able to explain the basics to you.
• The agent should be able to give you a couple of lender names so that you may then call and confirm the closing fees and compare interest rates.
• This is the time to ask about inspections and what they entail, who pays for what and what items would the seller be responsible for as far as repairs go?
• Make sure you feel you have clear communication with the agent.  Tell the agent the best way to communicate with you. 

I wish you luck in your endeavor in buying your first home.  Being prepared by an experienced, capable agent will be the key to smooth transaction.  I am located in Montgomery County Maryland in the Gaithersburg area. No matter where you are, if you have questions, shoot me an email and I will answer your questions to the best of my ability!

You may search for listings and local area information at www.Audreyjune.com .  Email Audrey@audreyjune.com .

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For serious Animal lovers only!!

Every morning I get up, my dog has his routine.  Hutch here at the left, is an Australian Shepherd.  He stands at the top of our staircase, waits for me to go downstairs, rattle his colar and make the tags jingle.  Then, he comes down.  In the evening before we go to bed, some how , he sits in front of my view of my television to make eye contact with me and my husband to let us know it is 8:55, give or take 5 minutes,  that means his last walk before dinner.  Now, he know many words, walk is one we cant say out loud because he understands and gets all excited, so we have to say “W”. My dog has me trained in these routines.

I have always known that animals are more intelligent than we give them credit for.  Here is an article in the March 2008 issue of National Geographic that shows us just how much we humans have to learn. 

This Border Collie here is on the cover of National Geographic Magazine, Betsy has a vocabulary of over 340 words.  There is the story of Alex, the African Gray parrot and how Irene Pepperberg, who studied Alex for 30 years and taught him to speak and to communicate, not just “parrot” words.  The story of the Dolphins in Hawaii is amazing.  There are several other animals featured in this story.  The author visits the Wasington DC zoo, the Baltimore Aquarium and many labs, schools, and homes arround the world for this ariticle.  On a side note, if you ever get a chance to vist the Baltimore Aquarium, it is one of the most fabulous places to see!

In typical National Geographic fashion, Vincent J Musi, the photographer, has beautiful photographs of all of his subjects no matter if they are dogs, fish, or chimps.  The article is a facinating read, written by Virginia Morell. Click here to read the story.

This article just confirms what I have always known, animals are just little people in fur coats.

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Birds and Bees are; Why not credit as a curriculum?

Birds and Bees are; why not Credit as Curriculum???Credit is probably one of those discussions most parents don’t have with their children.  It is surely a subject that will probably go by the way of the Birds and the bees.  . . .  let them learn it on the street.

Truth be known, most parents don’t completely understand the world of FICO scores themselves?

Credit is the basis for just about everything these days.  I mean just about EVERYTHING.  What if we started teaching kids about credit in school?

I am talking about early in high school not college.  By then it is probably too late.

By the time they get to college, they are already spending money pretty regularly and have been given the “college credit card”.  All you have to do is sign this paper and viola’ you have a credit card.  Ahh . . the mighty credit card, what fun and/or dangers may lurk ahead?

My Mom and Dad didn’t explain credit to me.  They said if you have a bill you have to pay it and be responsible for it.  Save your money.  Take part of your allowance and save it.  Do odd jobs, get paid, and learn how to deal with your money.  Those were the basics of money.  Not watch out for your FICO scores? 

I think if there could be a class that kids take early in high school where they understand the importance of how credit works, what to do and not do in order to keep themselves in good standing and understanding the importance of good credit.  I guarantee we have young people who would like to buy a home and have their credit pulled to find out that they have ruined their credit for the next few years and they have no idea how that happened?  When you try to explain it to them, you might as well speak a foreign language.  Maybe the Montgomery County and Maryland School systems could investigate this and see if could be added as a “life course” of some sort?  If it is being taught, is it taught in all schools or is it only taught in certain schools?  If so, why is that?

I think this phenomemon of making this very basic financial tool could drastically help improve the US economy.  The American consumer would have less debt, intrest rates could be lower, less bankruptcies, which all end up falling on the shoulders of the American citizen and the bottom line of the economy.

 This might just save a few kids from making mistakes in their youth that could save them many dollars in the years to come.

What are your thoughts on this subject.

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Do you know “Lender Lingo”?

Years ago my niche market was first time buyers, Now, they have gotten married, have babies and many of them are my move up buyers.  I still have a large base of first timers.  I love them, they soak up all of the information I give to them.  My buyers know what is going on during their transaction because I have educated them as much as I possibly can.

When my buyers come to see me, I do a Buyer Listing Presentation , where I try to touch on many of the main details they are about to encounter.  Part of this is talking about the financing.  Now, I don’t do a final prequal, I leave that up to the actual loan officer, but I try to prepare them for some of the “lingo”.  I find that most loan officers throw words like ARM, Conforming, Non Conforming, FHA, VA, Purchase Money etc around like everyone just knows what that means?  I am not picking on my lender friends, I am sure you could turn this around on us agents.  I think we get used to our own lingo, we all forget the public might be saying, Huh?  Don’t worry, I will get to the agents shortly.

It would be like my Biopharma husband explaining the breakdown of proteins and cells to me in his work, I just get that deer in the headlights look.  it is giving me a headache just thinking about that. 

Anyway, I thought I would address some of the most popular terms I hear with my clients from lenders to clarify, in layman’s terms,in English, for the first time home buyer.  These are basic terms and you should consult a loan professional for actual rates and terms of any loan you are considering when purchasing a home.

Note- This is the document you will sign when settling on your home that is the agreement between you and the mortgage company of your exact interest rate, what kind of loan you are getting.  It spells everything out in specific detail of what you will be obligated to pay for your home.

Fixed Rate This means your interest rate will stay the same through out the term of your loan.

ARM- Adjustable Rate Mortgage.  This means that your interest rate is set to be the same for a short period of time.  If you chose a 5 year ARM, for example, the rate will stay the same for 5 years and then at the anniversary, it will adjust based on what the Caps are. After it adjusts in 5 years, your payment can change monthly, semi annually or annually.  Make sure you read the note for the exact terms at settlement.

Caps - the maximum your ARM can change when it is time for the adjustment.  For example, if you have a Fannie Mae loan, you may see 2/6 caps on your note .  This means if your interest rate starts at 6% and at the time of adjustment, it cannot go any higher, or lower, than 2% at a time.  The lowest it could go is 4% and the highest it could go is 8%.  If you never refinanced this loan, the highest interest rate you would have is 12%.  There is probably a minimum interest rate that the loan would be.

Conforming- This is a loan limit of $417,000, currently- you may see that this amount is about to be raised in higher priced areas- we are still waiting for a final number.  When you are borrowing money the rates are typically lower on a loan under the conforming limit.

Non Conforming- This is a loan amount above $417,000.  These loans are also called Jumbo loans. The rates are typically higher on the higher limits.  This is why it is important for the Conforming limit to be raised in the higher priced markets of the country.  This will make it easier for the consumer to have a cheaper mortgage payment.

FHA - Federal Housing Administration.  These are loans made that are insured by the Federal Government.  These loans are great for first time home buyers, although you do not have to be a first time home buyer to qualify.  There is a minimum down payment and the rules, or underwriting guidelines, are relatively easy to work with.

VA Veterans Administration.  You must qualify by having served in the Military for specified lengths of time to qualify.  See the VA’s website for details.  This program is great for veterans with liberal guidelines and 100% financing programs.

GFE Good Faith Estimate.  Your lender, I actually do this as an agent - I know some agents don’t do this-, is an estimate of how much cash you will need to bring to settlement to purchase your home.  It will also include the estimate of your monthly payment.

These are very basic terms in the loan world.  I hope this helps some of you that are new at the home buying process.  It is not difficult at all and always remember, if you are not sure what the loan officer is  talking about, stop ask again and make sure they explain it to you until you understand.  It is a lot of money, more importantly it is your money,  and it is important that you understand.

I will tell you I am a real estate agent, not a loan officer and find these are some of the more popular terms I hear with my clients.  You should always speak to a qualified lender to clarify and confirm this information.  I feel this if very important- they are handling one of your biggest financial decisions of your life.

I wish you luck in your endeavor of home ownership!!

For more information contact Audrey June-Forshey Remax Realty Group

                                                     301-921-2672

                                      www.Audreyjune.com

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On the street where I live

Welcome to Darnestown Maryland.  Darnestown is located in the Gaithersburg area of Montgomery County Maryland, a suburb of Washington DC.  Darnestown is not incorporated but instead has a Civic Association.  The Darnestown Civic Association, with its officers and neighbors, regulate, debate and vote on zoning and development issues that affect the Darnestown area.   Even though we are located 20 minutes outside of one of the largest metropolitan areas in the US, it feels like living in a quaint New England Town.

 Darnestown was originally settled in 1750 to Irish and Scottish immigrants.  Click here for the detailed History.

Every season is has it’s own beauty.  Even the Snow of the winter is like a postcard.  The spring with all the different blooms, summer spoils us with the beautiful sunsets.  Fall in my backyard is like going to New England on a trip to see the trees. I have several maples and they are breathtaking.

The homes are situated on 2+ acre lots; many families have had, and still do, have horses.  There are several equestrian trails in the area.   I love walking my dog on a nice Sunday morning.  You can hear the church bells toll.  There is just something so nice about that.

Every spring the Smokey Glen Farms sponsors a neighbor BBQ.  Everyone has a blast.  In the fall there is a Hoe Down.  People get all dressed up and have a good time.

My Husband and I play softball on the Darnestown Coed Softball league.  Each neighborhood has a team.  There has to be a minimum of 3 women playing on a team.  The games are played on Sunday afternoons and let me tell you, they can get pretty competitive sometimes.

I count my blessings to be so fortunate to live in such a fabulous place.  If you have thought about moving to the Suburbs of DC, but are enchanted by living in the country, then this is a place for you.

If you have questions about the Montgomery County Maryland Area Real estate you may contact me at www.Audreyjune.com  or 301-921-2672, office direct.

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