DoorFly.com - A Fresh Start for Indiana Home Buyers

Mistakes home buyers can make when purchasing a home

2009-02-27T11:04:00.000-08:00

Protect yourself when buying real estate from these common pitfalls.

The home buying process can be full emotions. Ultimately, these stressful emotions can push you in the direction of making one of the 'Deadly Mistakes' which are common among home buyers.

#1. Making an offer on a home without being prequalified.
Prequalification will make your life easier - so take the time to speak with a lender. Their specific questions in regard to income, dept, etc., will help you determine the price range you can afford. It is an important step on the path to home ownership. Check this calculator as a starting point of what you can afford.

#2. Not having a home inspection.
Trying to save money today can end up costing you tomorrow. A qualified home inspector will detect issues that many buyers can overlook. See this home inspection checklist.

#3. Limiting your search to open houses, ads or the Internet.
Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a Realtor®. They have up-to-date information that is unavailable to the general public and are the best resource to help you find the home you want.

#4. Choosing a Real Estate Agent who is not committed to forming a strong business relationship with you.
Making a connection with the right Realtor® is crucial. Find a real estate agent who is dedicated to serving your needs - before, during and after the sale.

#5. Thinking there is only one perfect house out there.
Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask your Realtor® for a comparative market analysis. This compares similar homes that have recently sold, or are still for sale.

#6. Not considering long-term needs.
It is important to think ahead. Will the home suit your needs 3-5 years from now?

#7. Not examining insurance issues.
Purchase adequate home owner's insurance. Advice from an insurance agent can provide you with answers to any concerns you may have.

#8. Not buying a home protection plan.
This is essentially a mini insurance policy that usually lasts one year from the close of escrow. It usually covers basic repairs you may encounter and can be purchased for a nominal fee. Talk to your real estate agent to help you find the protection plan you need.

#9. Not knowing total costs involved.
Early in the buying process, ask your Realtor® or lender for an estimate of closing costs. Title company and attorney fees should be considered. Pre-pay responsibilities such as Homeowner Association fees and insurance must also be taken into account. Remember to examine your settlement statement prior to closing.

#10. Not following through on due diligence.
Buyers should make a list of any concerns they have relating to issues such as: crime rates, schools, power lines, neighbors, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase.

Copyright Buffini & Company

Find a real estate agent, compare qualifications, and negotiate home buyer rebates at DoorFly.com.

Home Buying? Find out About America's Most Congested Cities

2009-02-26T14:33:00.000-08:00

Do you want to be regularly stuck in a "traffic jam"? Probably not. If you are home buying in a new location, congestion is an important factor to consider.

Los Angeles California is the most congested city in America according to Yahoo Real Estate and Kirkland, Wash.-based research firm Inrix, which provides real-time, historical and predictive traffic information to television stations and other groups across the U.S.

Consider this story from an average commuter.

For two years, 26-year-old marketing associate, Stefani Cole, commuted from her home in Long Beach, Calif., to her job at a radio station in Burbank. The 40-mile drive takes about 45 minutes without traffic but averages between two to two-and-a-half hours during rush hour.

"I would try to get to the office early and work later so that I would miss the major traffic," says Cole. "But if there was a wreck or something, forget it. It was going to be bad no matter what."

In September 2008, Cole decided enough was enough. She packed her bags and moved to Burbank. She now lives just eight miles from work. Her commute, however, is still 25 to 30 minutes. That shouldn't have come as much surprise, since the roads of Los Angeles are the most congested in the country.

The top five congested cites are:

L.A.
New York
Chicago
Dallas
Washington, D.C.

Resources

See pictures of America's most congested cities.
See traffic reports for cities you are considering.
Most cities have a Transportation Authority that will outline various transportation option. For Central Indiana, see the Central Indiana Regional Transportation Authority.

There are many things to consider as a home buyer. If you are looking for a realtor and hoping to negotiate real estate agent fees, check out DoorFly.com. A rebate realtor will offer you back a portion of their commission in exchange for your business.

As Spring nears, so does planning

2009-02-22T10:54:00.000-08:00

I was looking at my calendar this morning, and I realized next weekend will be the start of March!

As Spring nears, I remember when my wife and I bought our first home. If only we could go back and do some things differently!! Like maybe plan a little!

For instance, if we had taken the time to get our finances in order, been pre-approved, found the ideal real estate agent, researched our desired home features, and on and on... things probably would have went a little smoother, cost a little less, and most importantly saved us a lot of time!

This leads me to the question...Are you planning on buying a home or looking to sell your home in the coming months? If so, than it's safe to say you've either started your planning or are thinking about it?

Besides getting the finances in order and being pre-approved, the next most important step is finding the right real estate agent to help guide you through the process. A real estate agents main role is to serve your best interests when buying or selling real estate. To have a qualified professional in your corner can make a huge difference when locating the right home, attracting interested buyers, or going into price negotiations.

This is where DoorFly.com's services best fit in. Buyers and sellers post details on their current or desired home for real estate agents to see. Agents will see your posted details and will compete with other agents to win your business. They do this by showcasing their knowledge and experience with an additional incentive. If you choose them, they will give you a rebate from their commission at closing!

It benefits both you and the agent. You choose the real estate agent that fits your needs and is willing rebate back to you some needed cash. The agent gains a new client!

Start the home planning off right. Find a real estate agent that has your interest first. Learn more.

Cool Websites and Tools - DoorFly: Find the Best Realtor

2009-02-22T05:05:00.000-08:00

DoorFly ranked #2 on MakeUseOfIt.com's February 21, 2009 list.

Here is the top five list from today:

(1) BehindTheName - It is a comprehensive resource that lists thousands of names, using this site you will be able to find out things like; name meanings, origin, popularity and more. Read more: BehindtheName - Find Out What Any Name Stands For.

(2) DoorFly - Connects home buyers, sellers and real estate agents, with the main focus on home buyers helping them to find the best realtor. The best part is that the buyer does not actually have to search for anyone, the agents find buyer via his DoorFly listings and even offer rebate from their commission.
Read more: DoorFly - Find The Best Realtor

(3) Fonomo - Dead simple video conferencing app that lets you quickly create virtual room and video chat with others online.
Read more: Fonomo - Easy Online Video Conferencing App.

(4) LovelyCharts - Online diagram editor that allows you to create professional looking diagrams and charts quickly.
Read more: LovelyCharts - Free Online Diagram Editor.

(5) Shutterborg - Online word processor that runs in your web browser and makes life easy by allowing you to edit documents online.
Read more: Shutterborg - Edit Documents Online.

These are just half of the websites that MakeUseOfIt discovered in the last 3-4 days. If you want us to send you daily round-up of all cool websites we come across leave your email here. Or follow us via RSS feed.

About Makeuseofit.com
Makeuseof.com is very different from most of the other tech blogs/websites. It’s unique and original in what it reviews and how it does it. On makeuseof we don’t write about any new web applications that come around but only about ones that are COOL, FREE and USEFUL. Or as it says in our tagline: cool websites, software and Internet tips. It may be a subjective judgment but that’s how it is. We also try to keep it simple and accessible, so that even newbies who never used such sites like Digg and Delicious or ones who think AJAX is famous washing powder brand can easily find their way around.

Read the full submission for DoorFly about how to negotiate real estate agent fees and earn a home buyer rebate. Rebate realtors are available when you are buying real estate and DoorFly helps you find one that is qualified and meets your needs best. Check out DoorFly today.

Most affordable housing market in at least five years!

2009-02-21T06:03:00.000-08:00

Crashing home prices have led to the most affordable housing market in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday.

Indianapolis is at the top of the real estate affordability list!
Topping the list of most affordable U.S. metro areas, which ranks areas with more than 500,000 in population, was Indianapolis. This is the city's 14th consecutive quarter in first place; it boasts a full 93% of all homes sold being affordable to median family households.

Affordability in Indianapolis, the 33rd largest metro area in the United States with 1.7 million people, was buoyed by fairly high median income of $65,100 and rock-bottom home prices. The median price for a home sold during the quarter was just $103,000, according to the National Association of Home Builders report.

Those prices, combined with reasonable mortgage interest rates, make home-buying in the area a snap. A buyer of a median-priced home putting 20% down would pay only about $450 a month in mortgage expenses.

But even though house buying costs are reasonable, the city's weakening economy meant it did not escape the foreclosure plague. More than 20,000 homes, representing nearly 3% of the city, received a foreclosure filing of some kind in 2008, the 26th highest rate in the nation.

Other most affordable home buying towns were: Warren, Mich. (89.6%); Youngstown, Ohio (89.4%); and Detroit (89.3%).

New York is at the bottom of the real estate affordability list.
The least affordable was the New York City metro area, where only 13.9% of homes sold met the criteria.

In the New York City metro area, home prices took a steep dive during the quarter, to $455,000 from $500,000 three months earlier. But even that was not enough to dislodge the city from its rank as the most unaffordable metro area in the land.

Median income in the area is $63,000 less than in Indianapolis and, with home prices more than four times higher than in the Midwestern metropolis, only 13.9% of the homes sold there were affordable to median income families.

That was still a major improvement from two years ago, when only 5.1% of homes sold during the fourth quarter of 2006 were affordable. And New York households have been barely brushed by foreclosure so far with only 0.71% receiving some kind of foreclosure filing during 2008.

Other least-affordable metro areas included San Francisco at 20.6%, where affordability improved greatly from 5.7% during the second quarter of 2007; suburban Long Island, where 25.5% were affordable; and Los Angeles, where 26.9% were.

Source: Yahoo! Finance

With affordability at a high-point, buying real estate is appealing. DoorFly can also help you find a real estate agent and earn a home buyer rebate. Real estate agents offer you money back from their commission as an incentive for your business. Check out DoorFly.com today.

DoorFly makes finding an agent "Easy"

2009-02-20T14:39:00.000-08:00

One of my favorite features of DoorFly is its simple user experience. A home buyer or seller can literally sign up and have agents making bids for their business in a matter of a few minutes.

It's really that easy.

A buyer or seller selects their location, enters a few home details, and then provides their contact information for the winning agent. Review and submit and you're done!

The new auction becomes live for agents to view. Buyer and sellers can then sit back and watch as agent bids come pouring in.

So, if you're in the market to buy or sell your home and are looking for a painless way to find a real estate agent, you will not be disappointed using DoorFly's simple signup process.

Have questions? Learn more on how DoorFly works.

Cool Technology for Real estate agents

2009-02-20T10:05:00.000-08:00

Adam and Kimberly Small, owners of Connective Mobile, offer a new communication tool for real estate agents.

What is Connective Mobile?
Connective Mobile uses the latest voice and text technologies to help real estate agents reach potential home buyers.

Their software is an innovative lead generation tool that utilizes both text messaging and hosted toll free numbers to ensure that home information is always available to prospective buyers.

How does it work?
Agents use a web-based interface to create messages that are automatically turned into text messages and voice messages (for the 800 number) when potential home buyers text the advertised number for more information about a home.

Key Features:

Immediate response to customer inquiries.
Online reporting including usage statistics and contact
information of leads.
Automated weekly reports delivered by email.
Easy to use online web portal providing sophisticated mobile marketing account management.

For example:
A young couple drives around on Sunday morning looking for a new home. They pass many 'for sale' signs and call the agent numbers listed on the sign. When the agent is not available, they leave a message or hang up == A potentially lost client. When/if the agent calls back, the couple has likely moved on or does not remember exactly which house they called about. If there is a flyer at the home, they jump out of the car and grab it. However, it is a digital world and most young home buyers prefer using the Internet and phone text messaging for communication.

These are not issues with Connective Mobile. The same couple drives by a home advertised with Connective Mobile. They 'text' the number on the sign and all home information is automatically sent to them on their phone. It is like a phone brochure and stored for them to look back later. Also, the real estate agent now has their phone number from their opted in request and can send follow up text messages about the home for sale. If the home buyer prefers to call the 800 number on the sign, a voice message is already set up to describe all details of the home.

Adam Small says their services is "about using the preferred communication method of potential new clients." Kimberly mentions a newly added service for realtors -- virtual tours to accompany the text messages.

Why should realtors use Connective Mobile?
"39% of home sales are first time home buyers and 65% of first time home buyers are between the ages of 18-35 representing the Gen X and Gen Y groups. These busy professionals are happier with sending one or two lines via text messaging rather than spending several minutes on the phone." According to the National Association of Realtors.

Fun Facts

In June 2007, 28.8 Billion text messages were sent.
This is 4 times the amount sent in June 2005.
One third of all cell phone users send and receive text messages on a regular basis.
The number of wireless subscribers in the US is now over 255 Million.

More Information:

About DoorFly
DoorFly.com is an online service that helps real estate agents find home buyers and home sellers in an easy and automated system. Agents offer home buyer rebates to potential new client in order to win their business.

In turn, DoorFly increases real estate affordability by helping buyers and sellers negotiate real estate agent fees in a non-intimidating setting. Selling real estate can be difficult, especially in today's economy. It is important to find the right real estate agent, and DoorFly makes comparing offers and qualifications easy. Check out DoorFly.com today.

DoorFly's soft launch shows success

2009-02-19T17:09:00.000-08:00

Early this week, DoorFly crossed the borders of Indiana and begin offering it's services nationally. The move made sense as prime real estate season nears and many home buyers and sellers begin their preparations for early Spring.

What was not expected was the immediate attention and positive feedback DoorFly recieved from various news sources and consumers.

CNET, a well respected news source that covers around-the-clock technology news and trends wrote an article about "5 ways to find a house". Listed at the top was DoorFly!

AppScout.com, another well-known news source known primarily for finding information on the latest killers apps wrote a great article on the services and features offered on DoorFly.com.

You can read more about these article in DoorFly's news room.

The best news of course was the activity and newly created accounts by agents, buyers, and sellers across 18 different states!

Looking to find a real estate agent? DoorFly.com provides a simple platform for locating and reviewing real estate agents with an added bonus. Agents on DoorFly are willing to negotiate real estate agent fees with you! The end result, extra money in your pocket and the ability to find a qualified agent that can serve your home buying and sellling needs.

Income tax credit up to $8,000 is available for first-time home buyers

2009-02-17T12:33:00.000-08:00

If you are considering buying real estate for the first time, the government is hoping to provide you an incentive to buy. For those that qualify, an income tax credit up to $8,000 is available.

The President is expected to sign into law later this week theAmerican Recovery and Reinvestment Act (ARRA). The purpose of the new legislation is to stimulate the overall economy. One of the provisions is directed at stimulating the real estate market by encouraging the purchase of houses. For first-time home buyers, an income tax credit equal to 10% of the cost of the home up to $8,000 is available. This new legislation actually extends and revises a similar credit that was available to first-time homebuyers in 2008.

The credit is not available to everyone. You must meet the following criteria to realize all or any portion of the credit.

Criteria for Eligibility

A first-time homebuyer includes any purchaser who has not owned a house for at least three years. The first-time home buyer credit is available to those who have never owned their primary residence as well as to anyone who has not owned a residence for at least three years prior to the purchase. For a married couple, both spouses must qualify as first-time homebuyers to receive the credit.
House must be used as principal residence. You can not receive the credit for the purchase of a second home for yourself or a primary residence for your parent or your child. You must be the owner and you must use the house as the principal residence for you and your family. Any single family residence will qualify, including condominiums, townhouses, and co-ops.
House must be purchased during the first eleven months of 2009. The tax credit is available for a residence purchased on or after January 1, 2009, and before December 1, 2009.
Income limitations for eligibility. To receive the full credit, the adjusted gross income of the purchaser can not be more than $75,000 for single tax filers or $150,000 for joint tax filers. The credit phases out between $75,000 and $95,000 for single filers and $150,000 and $170,000 for joint filers.

How Do You Get the Tax Benefit?
For eligible homebuyers, you will receive your tax credit when you file your 2009 federal income tax return due on April 15, 2010. This means that the credit will first reduce any federal income tax owed for 2009. Any amount in excess of the tax due will be returned to you as a tax refund.

It is important to note that this home buyer incentive does not provide immediate funds to assist with the purchase of the house. You will still need to accumulate sufficient money for the down payment and for the closing costs in order to complete the purchase. However, to receive benefit of the tax credit earlier than when you file your taxes, you may want to consider reducing the federal tax withheld from your paycheck during the remaining months of 2009 after the purchase. This will allow you to increase your take-home pay over the remaining paychecks for the year by the amount of the anticipated tax credit.

Warning…Recapture if Sell Too Early
If you sell your home within three years, the entire amount of the tax credit that you received is recaptured at the time of the sale. In other words, the closing documents will require the full credit amount be returned to the government from the proceeds of the house sale.

Author: Elaine E. Bedel, Bedel Financial Consulting, Inc. - Source
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Save even more money by using DoorFly to negotiate real estate agent fees with a rebate realtor. At DoorFly, real estate agent "bid" a portion of their commission back to you as an incentive for your business.

Now is a great time to consider home buying! Check back often for more home buying advice.

Doors are flying open! New features released on DoorFly.com

2009-02-16T12:34:00.000-08:00

Performance First, Inc. announced today it has released new features on DoorFly.com aimed at connecting home buyers and sellers with qualified real estate agents.

The latest round of upgrades include the opening of home seller listings where sellers now have the opportunity to connect with real estate agents. Unlike the buyer auctions where agents bid rebates to gain business, the seller listings contain an added feature. Agents are now able to make "sales-pitches" to sellers through the DoorFly bidding system.

Tatum Hindman, Co-Founder, talks about the new seller additions. "We added the seller section with a slight twist from home buyer auctions. Agents are encouraged to pitch their qualifications to the seller as part of their offer. The offers are more flexible to accommodate whatever agents feel is right to offer in order to win the business. This new feature allows agents who are not interested in bidding high rebate amounts to pitch their skills and experience to the seller."

In addition, buyers and sellers are now able to engage in private conversations with agents through private message boards. "We feel this will give both parties a chance to ask questions to one another, which can be extremely important and sometimes necessary before deciding to work together."

Please check back as DoorFly has announced more features to be released in the coming weeks.

Interested in buying or selling real estate? Go to DoorFly.com to find a real estate agent willing to give you a portion of their commission in exchange for your business. DoorFly's system allow you to find a qualified real estate agent and to negotiate real estate agent fees in a comfortable way. Learn more about these offerings.

DoorFly's instant bidding comes to the front!

2009-02-15T16:47:00.000-08:00

A new feature was recently launched to help agents gain instant exposure to new buyers and sellers on DoorFly.com. DoorFly calls it "Premium Bidding."

Here's how it works:
Real estate agents have the ability to automatically submit "instant" and featured rebates to newly signed up buyers and sellers during the first hour of the auction.

Both parties benefit!
Agents benefit by getting the first opportunity to pitch their experience, qualities and rebate amount to new home buyers and sellers. And the best part... agent participation in premium bidding is free unless you are selected by the client. A low nominal fee is charged to agents who are chosen from a premium bid offer.

Buyers and sellers also benefit! They get instant rebate offers from agents as soon as they sign up!

Looking for some home buying advice? Use DoorFly.com to locate an experienced real estate agent. DoorFly provides a comfortable environment for reviewing agent profiles and negotiating real estate agent fees.

Avoid financial loss and legal action. Know the agent's role.

2009-02-15T07:20:00.000-08:00

As a home buyer or seller, it's crucial to understand the responsibilities of the listing and buying agents before engaging their services. By having a clear picture of their job role, you will have a better chance of avoiding any financial pitfalls and legal troubles.

Home Buying
A buyers agent is bound by a set of laws to ensure fair dealings are met on both sides of the real estate transaction. Like a doctor or lawyer, agents have a statutory duty to uphold fair dealings, or else face major penalties including license revoking.

IndyStar.com talks about the role of the buying and listing agent. Some of responsibilities of the buying agent (also called selling agent) include:

Assisting client in obtaining financing
Visiting prospective homes
Handling negotiations with the seller's listing agent
- The offer
- Counteroffer
- Inspection
- Final purchase agreement

Home selling
When selling a home, sellers will usually work with listing agents. Some of the job responsibilities of listing agents include:

Negotiating with potential buyers and buyers' agents.
Working with title companies in providing buyers survey and title data

Source: Knowing agent's role crucial to sealing deal - By Tony Miller, IndyStar

There is also another kind of agent who handles representation for both sellers and buyers on the same transaction, known as limited agency representatives. These agents, although less popular compared to listing or buying agents, are often pursued by buyers or sellers looking to pay lower real estate agent fees. On the same token, this kind of representation also appeals to agents who are looking to not split the real estate agent commission with another agent.

If you selling and looking to buy a home, be sure to check our DoorFly.com where many qualified agents are willing to save you money by representing you as their listing agent and buying agent. It's important to find a real estate agent who will help guide you through the home buying and selling process. Learn more about DoorFly's services!

Doors are flying open! New features released on DoorFly.com

2009-02-13T17:26:00.000-08:00

Performance First, Inc. announced today it has released new features on DoorFly.com aimed at connecting home buyers and sellers with qualified real estate agents.

The latest round of upgrades include the opening of home seller listings where sellers now have the opportunity to connect with real estate agents. Unlike the buyer auctions where agents bid rebates to gain business, the seller listings contain an added feature. Agents are now able to make "sales-pitches" to sellers through the DoorFly bidding system.

Tatum Hindman, Co-Founder, talks about the new seller additions. "We added the seller section with a slight twist from home buyer auctions. Agents are encouraged to pitch their qualifications to the seller as part of their offer. The offers are more flexible to accommodate whatever agents feel is right to offer in order to win the business. This new feature allows agents who are not interested in bidding high rebate amounts to pitch their skills and experience to the seller."

In addition, buyers and sellers are now able to engage in private conversations with agents through private message boards. "We feel this will give both parties a chance to ask questions to one another, which can be extremely important and sometimes necessary before deciding to work together."

Please check back as DoorFly has announced more features to be released in the coming weeks.

Interested in buying or selling real estate? Go to DoorFly.com to find a real estate agent willing to give you a portion of their commission in exchange for your business. DoorFly's system allow you to find a qualified real estate agent and to negotiate real estate agent fees in a comfortable way. Learn more about these offerings.

Home Buying? Consider these Types of Neighborhoods

2009-02-13T16:43:00.000-08:00

If you are buying real estate or considering moving to another location, your neighborhood and lifestyle preferences will play a large role in the home buying process.

Whether you like big yards or hip nightclubs, there's a community type that fits your lifestyle.

1. Urban Core (Downtown)
Aging single family homes and apartments, modern luxury lofts and condos converted from old warehouses and above businesses

Your Neighbors: Ethnically diverse mix of young single professionals, low to middle income families and seniors

2. Urban Pioneer (Up-and-Coming)
Fixer uppers, older single family homes ranging in style from ranch to modern, garden-style apartment buildings

Your Neighbors: Ethnically diverse mix of young singles and couples, recently divorced and single parents, aging retirees who have lived in the neighborhood for years, immigrants

3. New Urban
New single family homes in retro styles, upscale apartments and condos, lofts above businesses

Your Neighbors: Educated, affluent-to-middle income couples with no or few children, young single professionals

4. Cul-de-sacs & Kids (Bedroom)
Large single family homes with manicured lawns and finished basements, tract homes, newly built homes

Your Neighbors: Middle-aged soccer moms and dads whose lives revolve around their children

5. Pedestrian
Cozy condos and apartments, lofts above businesses

Your Neighbors: Hipsters and single professionals

6. Historic
Large, well-preserved, older single family homes known for their architectural styles ranging from Victorian/Queen Anne to Colonial Revival

Your Neighbors: Style-conscious middle-aged couples, aging adults who grew up in the neighborhood, home-improvement buffs

7. Status/Destination
Large, custom-built single family homes and McMansions on the lake, on the beach, with city views, in gated communities; plush penthouses and lofts in trendy, urban areas

Your Neighbors: Affluent high-powered executives and wannabes, upper-middle income achievers, celebrities, millionaires

8. Ethnic
Small apartments, older single family homes

Your Neighbors: Immigrants from a particular ethnicity, young couples, budget-conscious singles

9. Active/Resort
Large single-family homes in newer architectural styles, luxury cabins, upscale condos

Your Neighbors: Affluent and active middle-aged adults and seniors

10. Golf
Upscale single family homes and condos in mostly contemporary styles

Your Neighbors: Families with young children, retirees, golf fanatics

11. Retirement
Small, low-maintenance apartments and condos with all kinds of amenities

Your Neighbors: Empty nesters, single seniors

12. Rural
Custom-built homes with lots of acreage and room to grow

Your Neighbors: Nature

How to buy a rural property
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No matter what neighborhood type suits you best, use DoorFly to find a real estate agent and earn a home buyer rebate. We help increase your real estate affordability and connect you with an Indiana real estate agent who best suits your needs.

Source: http://www.frontdoor.com/Neighborhood/12-Kinds-of-Neighborhoods/373/p1

Eight steps to house buying success

2009-02-13T10:55:00.000-08:00

1. Get some good advice
Whether you're buying a home for the first time or moving, it is important that you get some good advice. For information you can trust, find a qualified real estate agent and use online tools to gain information.

2. Determine how much you can afford
Before you start looking for your new home, you should find out:

How much you could borrow?
What your repayments will be?
How much you can afford to pay each month?
Use this mortgage calculator to help you work it out.

3. Start house hunting
Find the area you want to live in and talk with a few local estate agents. All reputable estate agents will take your details and get in touch as soon as suitable properties come onto the market. Have a good look at everything in the house including, the shower, the roofing, and furnace. Take a checklist of things to look out for so that you don't forget anything.

Use DoorFly to negotiate real estate agent fees and find a rebate realtor.

4. Make an offer
If you are interested in a property, make an offer to the seller agent. If your offer is accepted, it will be on the basis of being 'subject to contract'. This means that you and the seller have agreed in principle to go ahead with the transaction but neither parties are yet legally bound.

5. Get Pre-approved for a home loan
You can apply for your mortgage right now. There are many available loan officers to consider.

6. Hire a Home Inspector
We strongly recommend that you arrange for an inspection on the house be carried out for you. The inspector will highlight any alterations or problem that must be resolved before you finalize the agreements and whether the offer you have made is a good one.

7. Sign The Paperwork / Contracts
Once your attorney, agent, and mortgage broker have completed all the paperwork, you'll be asked to sign the contract. The seller will be asked to sign also. At this point both you and the seller become legally bound

When contracts are exchanged, a date is set for move-in - this is the day the property becomes yours. On completion, the balance of the purchase price is paid to the seller's mortgage broker in return for the title deeds of your new home.

8. Move in and start making the house a home.

Remember, use DoorFly to find an agent and gain a home buyer rebate. Congratulations and happy home buying!

When should you refinance?

2009-02-12T20:07:00.000-08:00

The other day I received a great offer from my lender for refinancing my home loan. I'll be honest in the fact that I really didn't know much about the refinance process. Is refinancing a bad idea? If not, would it be beneficial for my situation? My lender quoted me an interest rate of 4.3% on a 15 year loan, which is great considering the economic climate.

However, does the short-term cost of refinancing make sense in the long run, or short run if I consider movng in the next couple years? I decided to do a little more research to see if refinancing was something I should really consider. Here are some suggestions to consider when facing the short-term savings from the deal.

"As with a regular mortgage, refinancing involves closing costs. Lenders are required to provide you with a good-faith estimate of those costs before closing. But it's common for a few last-minute changes to boost the overall tab. Don't forget about the prepayment penalties that may apply to your existing mortgage, particularly if you're holding an adjustable-rate mortgage. Although the use of prepayment penalties may eventually be abolished, or at least severely curtailed, they are still in effect for many borrowers.

To calculate how long it'll take for your monthly savings to pay off the costs you'll incur by refinancing, add up your closing costs and any additional penalties. Then divide that number by the savings from your new monthly mortgage payments. The resulting figure is the number of months before you break even. So if your closing would cost $2,500 and refinancing would lower your monthly payments by $85, you'd hit your break-even point in 29.4 months. In that case, if you think you might move in the next two-and-a-half years, then refinancing is probably not a good idea."

Source: When to Refinance, when to Sit Tight - By PeterMcDougall, TheStreet.com

Like the above source mentioned, if you're planning on moving in the near future, refinancing may not be the right decision as closing cost would cloud any short-term benefits.

If you're planning on moving, check out DoorFly.com to learn more about their rebate realtor bidding system. Buyers and sellers can sign for free and have the ability to negotiate real estate agent fees. DoorFly makes home buying and selling beneficial for both parties as agents can easily gain new clients and buyers/sellers can dramtically reduce the incurred real estate agent commission costs.

Home Buyer Tax Credit Update

2009-02-10T07:31:00.000-08:00

Congress is actively considering an expanded home buyer tax credit, and the Senate has approved the following improvements:

The tax credit amount increases to $15,000.
The tax credit is extended to anyone buying a principal residence.
The tax credit will apply to all purchases occurring within a year after the bill is signed into law.
It is a true tax credit; it does not have to be repaid.

Please call your Senators and urge support for the expanded home buyer tax credit. To reach your Senators, call 1-866-924-NAHB (6242).
Source: http://www.federalhousingtaxcredit.com/

First-Time Home Buyer Tax Credit at a Glance

The tax credit is available for first-time home buyers only.
The maximum credit amount is $7,500.
The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
The tax credit works like an interest-free loan and must be repaid over a 15-year period.

About the First-Time Home Buyer Tax Credit
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. The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

Home Buyer Resources
Home buying a home can be complicated, but fortunately a lot of expert advice is available to help people navigate the experience. The National Association of Home Builders provided these online resources can help make the process smoother.

Buying and Owning a Home Freddie Mac
Buying a Home Department of Housing and Urban Development
The Home Buying Process Federal Housing Administration
FHA Loans Federal Housing Administration
Homeownership Resources Fannie Mae
Home Loan Learning Center Mortgage Bankers Association
Move.com NAHB’s official new homes listing site
Home Loan Guaranty Services Dept. of Veterans Affairs
State and Local Home Buyer Assistance Programs
Housing Publications from the Federal Citizen Information Center
Consumer Information from NAHB NAHB.org
Mortgage information from the Fed Federal Reserve Board
Home Financing Information from the FTC Federal Trade Commission

Real estate affordability will be helped with this tax credit. At DoorFly, we also encourage all home buyers and sellrs to negotiate real estate agent fees and to use a rebate realtor.

Sub-prime fallout means higher quality tenants

2009-02-06T14:49:00.000-08:00

The sub-prime fallout has impacted many folks in the real estate business. Lending institutions have seen a lot of their loans forced into foreclosure which in some cases has lead to bankruptcy. Sub-prime borrowers have taken the other blow by defaulting on their mortgage payments and losing their home to foreclosure. The result is less people are now able to obtain home loans, especially when trying to obtain 100% financing.

However, the results are not as gruesome for everyone. Many real estate investors see it as a great opportunity for them. Real estate investor Wendy Patton, on CREOnline.com, explains the positive impact the sub-prime woes have on lease options...

"When investing in lease options, it is harder for us to find quality tenant/buyers when almost anyone who can fog a mirror can get a mortgage. Not only that, but because it was so easy to get 100% financing, most buyers save nothing and are unable or unwilling to pay much for an option fee.

With the lending companies tightening their belts, I expect we will see a growing population of QUALITY tenant/buyers who are able to pay HIGHER option fees."

Source: Why Soft Real Estate Markets are GREAT for Investors - by Wendy Patton, CREOnline.com

The other side of this is tenants may need additional time to obtain financing in order to take the option.

For investors, buying real estate during these times is a great option as home prices are at their lowest in years and quality tenants are saturating the market.

My home buying advice for potential borrowers is to locate home buyer rebates. A good place to start is DoorFly.com, where agents bid rebates to potential home buyers for an opportunity to win their business. The Website benefits both parties: Home Buyers gain a rebate realtor and agents gain a new client! During these tough time, any extra money you can save during the home buying process may be well worth it.

Benjamin Button Home For Sale

2009-02-06T11:41:00.000-08:00

The Curious Case of Benjamin Button movie tells the story of Benjamin Button, a man who starts aging backwards with bizarre consequences. The film has been nominated for 13 Oscars.

If you've seen the movie, you surely remember the home that Benjamin grew up in and first met Daisy. Well, if you are in the home buying market, that property is for sale.

According the listing real estate agent:

"The 7,800-square-foot Garden District mansion featured in the film is much nicer than what people saw in the movie," says Dorian Bennett, who listed the house on behalf of his firm Dorian Bennett Sotheby’s International Realty. "It’s more like Tara than a home for old people."

The house, which has six bedrooms and bathrooms, a library and a reception hall, is priced at $2.85 million and is on the market to settle the estate of the late owner.
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Selling homes is tough right now, but it's interesting to see all sorts of homes for sale. Real estate agents are working hard selling real estate these days! Find a real estate today at DoorFly and earn your home buyer rebate.

Repairs to Help Sell Your Home

2009-02-06T11:25:00.000-08:00

Trying to sell your home during this economy is more difficult than it has been in the past. To help, we've compiled some home selling advice / repair tips that make a difference.

A study produced by HomeGain and posted on Realty Times aimed to take the guess-work out of where to spend your repair dollars. According to the study, the top four areas to focus on are:

Clean and de-clutter
Lighten and brighten,
Stage the home for sale, and
Landscape the front/back yards.

Cleaning and decluttering can create a 578 percent ROI (the highest return was 837 percent in the West). The ROI for staging a home was 340 percent (this category ranked second in the South and Mid-West). Landscaping the front and back yards, brought in a 415 percent ROI. According to the survey, each of these repairs range in cost from a few to several hundred dollars but can return thousands in profit.

Rounding out the study’s top-ten list of repairs are:

Repair electrical or plumbing problems
Replace or shampoo carpeting
Paint interior walls
Paint exterior walls
Repair damaged flooring
Update kitchen and bathrooms

Appearance is everything when you are trying to sell your house, especially in these tough times!

At DoorFly, we also recommend that you find a real estate agent who can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

Check out the Do-It-Yourself Home Repairs web site.

Questions every homebuyer should ask their agent

2009-02-05T18:14:00.000-08:00

When choosing a real estate agent, it's important to know exactly what kind of agent you're getting. As I mentioned in previous blogs, finding the right agent is like hiring the right employee. It's important to take an agent through an interview-like process by asking pertinent questions about their experience and qualifications. If you don't due your homework, you could wind up choosing a real estate agent that doesn't have your best interest when shopping for a home, or worse, encourages you to buy a home that you didn't really want. Most importantly, find an agent who's not going to work hard for you in crunch time when the numbers need to be in line for your budget.

PrNewswire.com provides some great questions to ask a real estate agent before choosing to hire...

How long have you been licensed? Do you work in real estate full time?
What percentage of your business is working with buyers?
How familiar are you with the area where I want to purchase?
Do you have references from other buyers who have used your services? Do you have an association membership that has a published code of ethics or standards of practice?
Do you think foreclosures, bank-owned properties or for-sale-by-owner properties would be appropriate for my home search?
How often will you supply me with properties that meet my criteria? How will you get them to me? Will you point out all the negative aspects of each property as well as all the positive aspects?
Please tell me how you represent buyers to help them get the best price and terms.
Can you help me with the loan process? Do you have a list of lenders, home inspectors, insurance agents, and other professionals to recommend?
How do you get paid?
Do you have a written agreement? What is the duration of that agreement? What if I see a for-sale-by-owner house on my own?
How would you represent me as a buyer client for properties listed with your firm? Will you change your relationship with me to "dual agency", "designated agent", or "transactional broker"? How might that affect your ability to negotiate on my behalf for those properties?

Source: Home Buying Experts Recommend Questions Every Buyer Should Ask Their Agent - By National Association of Exclusive Buyer Agents

Another important question to ask your agent is "Are your real estate agent fees negotiable?" Agents need your business just as much as you need their help. It's not considered rude or unethical to ask about real estate agent commission. Home buyer rebates are very common. DoorFly.com is one site that specializes in helping home buyers find a qualified agent who offers rebates. To learn more, go to DoorFly.com.

It's OK to downsize!

2009-02-05T17:57:00.000-08:00

Find a real estate agent who will listen to your new-home needs

In this economy, many people are thinking about downsizing their homes. This means putting their current home for sale and going through the typical home buying process looking for something smaller.

The problem? There shouldn't be one, but apparently it is according to one home owner in South Dakota. He says:

We are having a problem getting a real estate agent to work with us because we want to downsize. Many say we should want to move up, not down. Frankly this makes no economic sense to me. In addition, one agent said we are too late; there are not enough smaller homes available in the marketplace.

Why would they want to downsize? The explanation:
My wife and I own our current home free and clear. Unfortunately she is losing her job and my employer is considering an across-the-board 30% pay cut. Our children are grown, so we have too much house for the two of us. The taxes, insurance and maintenance are significant.

It makes perfect sense to me. Traditional ways of finding an agent are challenging. At DoorFly, home buyers and sellers can post their needs and lets prospective agents interested in the business bid for the opportunity. Many of these agents will even offer a home buyer rebate. Check it out and learn more about real estate affordability on our blog.

Do brokerages need to reinvent their image?

2009-02-03T04:44:00.000-08:00

The 2007 NAR Technology Survey has provided details on what agents are using as lead generators in today's market. The Internet, referrals, and repeat business were top three as you might expect.

And guess what was named the least important? Open houses and floor time, which are the traditional lead generators of brokerage houses of the past. The times are changing and many real estate brokerage may want to follow suit.

Today's consumers are seeking out agents, not brokerages. Buyers and sellers are wanting a qualified agent that can provide the best value for their services. Someone that can provide them with home buying advice or home selling tactics. On the other side, real estate agents need their brokerage to be more than just a collector of real estate agent commission. They need their brokerage to step up and provide an environment conducive to helping agents. And if agents can negotiate real estate agent fees with buyers and sellers, why can't brokerages be more flexible for the agent? It's still a win-win if the deal gets closed, isn't it?

For brokerages to succeed in today's real estate market, Inman News suggest the following items to improve their business model...

Recognize that clients follow agents, not brands;
Become an Internet presence;
Embrace technology;
A virtual office is not a benefit, it's a requirement;
Understand the following logic: The more benefits and training you give agents, the more professional they become, the better their image is to the general public.

Source: Consumers follow agents, not brands - By Inman News

Real estate agents: If you're looking for a great way to generate new leads, check out DoorFly.com. DoorFly provides a FREE online profile for real estate agents to show case their knowledge, expertise, and professional services to buyers and sellers. Learn more about this great opportunity!

Consumer Report: Fewer FSBO's and more agents cutting deals

2009-02-01T09:32:00.000-08:00

Consumer report has released some interesting findings on trends in the real estate marketplace. The report is showing that the real estate downturn has been second guessing seller decisions on going the FSBO route. An increasing number of sellers are finding it more beneficial to hire a real estate agent to assist in selling real estate.

On the same token, real estate agents are also finding these times difficult in the current market. More real estate agents have considered cutting deals with sellers to gain their business. Instead of taking in the full real estate agent commission, their negotiating the agent fees with sellers. Projo.com provides more detail on this...

"Last year, a Consumer Reports readers survey found that just over 80 percent of home sellers used the services of a real estate agent, about 17 percent tried to sell on their own, and just 1 percent used a Web site.

The Consumer Reports survey also found that “many real-estate brokers are willing to cut a deal on their commissions, and readers who successfully negotiated for a lower commission, often cutting the traditional 6 percent to 3 or 4 percent, tended to be just as satisfied with the result as those who paid the full fare.”

Source: Fewer sellers going the ‘do-it-yourself’ route - By Christine Dunn, Journal Staff Writer, Projo.com

DoorFly.com's service offerings fulfill the very same needs that the trends above state. Sellers and buyers need real estate agents. Real estate agents need sellers and buyers. DoorFly connects the 2 parties together through a reverse "auction-style" online bidding. If you're a seller or buyer in need of a qualified agent and some extra money in your pocket, go to DoorFly.com to find a rebate realtor ready to serve you.

Home Buying Question: How easy will it be to sell this thing?

2009-01-31T07:28:00.000-08:00

There’s an influx of people selling real estate in today's market.

However, with home prices down and foreclosures up, there are less home buyers looking to purchase. The next year or so may offer some prime buying opportunities for those willing to do some homework, and who meet the prerequisites of home ownership. Real estate affordability has increased!

Based on all of this, when home buying, one of the most important things to ask yourself when you start looking for a house is: “How easy will it be to sell this thing?”. Although it may seem counter-intuitive, it is important question to ask.

What characteristics lead to a house being highly “marketable”? We’re simply talking about buying a house that you can live in, put some sweat equity into over time, and then sell for a profit.

The right size
Curb appeal that is ripe for improvement
Good structure
Easy-to-improve internal aesthetics
An under-priced location
Good school district

The more desirable characteristics you’re able to find or add to through inexpensive sweat equity will improve your chances of not only selling your home, but selling it quickly and for a premium.

As you shop for a home, keep in mind these characteristics that not only make it appealing to live in now, but will make it have greater equity in the future (thus making it easier to sell).

Author: G.E. Miller
6 Must-Have Characteristics to Look for When Buying a Home

If you’d like to check out more from G.E. Miller, check out 20somethingfinance.com, his blog for young professionals. Also, read more about House and Home.
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A qualified real estate agent can help you evaluate these characteristics throughout the home buying process. Use DoorFly to earn a home buyer rebate in exchange for your business.