Tammy Doss

“Do You Qualify To Receive
An $8,000 Credit?”

The US government has extended the tax credit and expanded it so that existing homeowners can also take advantage of this great opportunity. So if you are new to the real estate market, or have owned a home for 5 out of the past 8 years –you may qualify! Let me AND a professional lender help you take advantage of the new tax credit. I’m ready to answer your questions and to help you find your home.

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February 7, 21 & 28
2:00PM - 3:00PM and
3:30PM - 4:30PM
FREE INFORMATION WITH NO OBLIGATION

Yes!  I will be attending the free workshop.

There are many reasons why people continue to rent.   But the primary reason is most people believe they cannot afford to buy a home. The question they should be asking is… “Can I afford not to buy?”

In most cases owning a home is much better than renting. Before signing that rental renewal lease, take into consideration the benefits of owning a home over renting.

Financial Advantages

You might be able to afford more than you think. Often a mortgage payment is less expensive than a rental payment. Plus, you often get more for your money. Where you might be able to afford a small apartment, consider this… for the same amount in a mortgage you will have significantly more space. Rent is guaranteed to go up every year, sometimes significantly. A mortgage, on the other hand, might fluctuate slightly if you have an adjustable rate, but odds are it is going to stay in a similar range, plus or minus.

With rent you are making no long-term investment. You have the right to live there but you are not building investment toward your future. When you own your own home, it is considered a valuable investment and increases your net worth. The longer you own your home, the more equity you put into it. As real estate property appreciates, so will the worth of your home. When you are ready to sell in order to upgrade or move to a different area, you’ll likely make more on your investment.

How much longer do you want to continue paying your landlord’s mortgage?

The Department of Commerce reports that between 1995 and 2007, the average renter accumulated a little over $4,000 in net worth. The average homeowner accumulated $184,400. That translates into $180,000 more, or $1,500 per month. In other words, each month that the average person continues to rent, it costs them $1,500 in lost wealth accumulation. Furthermore, renters are subject to rent increases as well as higher tax rates because they cannot take a mortgage deduction.

Quality of Living

Have you ever thought the plain white walls of your rental space are a looking a bit boring? Good luck in trying to change it though. The landlord will generally not allow any type of significant changes to the property.
In your own home, however, you can customize it to your heart’s content. In fact, making improvements to the home actually increases its value so it’s beneficial to do so. There is a certain amount of pride that goes into home ownership.

Privacy and security are additional benefits in owning your own home. You, and whoever you designate are the only people allowed in your home. You can pull into the garage at your leisure, you can sit in your back yard without being disturbed by the neighbors, you are not required to let a third party into your home without your consent, you can have friends and family over, invite guests to stay and even have a roommate if you so desire all at your freedom.

Owning a home is a big step and a significant financial matter. However, when considering the advantages of owning as opposed to renting, it is really not a difficult decision as to which one is best. There are great financial and quality of living benefits to owning a home.

Many people assume that buying a home is out of financial reach for them. However, they may be able to afford more than they think and it would be beneficial to speak with a Realtor about the advantages of owning. Consider the option of owning before committing to another year of throwing money away on rent.

What Steps Should I Take Next?

First, discover how much you can afford for your new home.  A qualified Realtor at Coldwell Banker Advantage can provide tools to help you determine your home affordability.  You can get started with a simple tool such as a Mortgage Calculator.

Next, determine the area where you would like to live and begin your search with a Realtor’s assistance.  Realtor services are a powerful tool for buyers.  Your Realtor will have a knowledge of the market and what’s available to purchase.  For this reason, it is beneficial to use an agent when searching for properties. They have tools and resources to locate your ideal home. Some properties you may never find without the help of a Realtor.  Click here to get started with our powerful search tools online at ColdwellBankerWV.com

As a buyer, the services of a Realtor will cost you nothing.

We look forward to helping you on your journey from renter to home owner!  Contact us today.  The sooner we get started, the sooner you’ll be enjoying your new home and all the advantages that come with it.

A question that is asked often in real estate is…

“Do I have to pay my Realtor to show me houses that are listed by another Realtor?”

One client asks, “There are several real estate companies in the city we are moving to, and we have found a Realtor we really like working with. However, there are several houses listed by other companies we are interested in seeing.  Do I have to go to each company to see those houses?”

If the home is listed on the multiple listings service, ANY Realtor can show the property. An EXCLUSIVE listing is one where the company that listed it can only show and sell it, but those listings are usually very rare and exclusive only for a short time.

You will never be required to pay a Realtor to “show you the property”.  Realtors make their commission when the home sells, and that commission is almost always fully paid by the seller of the home.

As we analyze a typical real estate commission, we will use a six percent commission on a $100,000 property, or $6,000. A common misconception is that the agent who lists the property gets the entire amount. This is not true. The reason that the MLS works so well is that the listing and selling Realtors share the commission.

In a typical transaction, there is a Realtor who represents the buyer and a Realtor representing the seller. They usually split the commission 50/50, although this amount may change depending on the listing agent. In an equal split of a $6,000 commission, each agent would receive $3,000.

For example, if I listed your property today, I would go to the MLS site, enter all the information about your property, and offer to split the commission with any Realtor who brings in a buyer. In other words, any Realtor can show and sell another Realtor’s property.

Realtors are usually able to sell a home faster than someone trying to sell their home on their own. Realtors work with one another, causing their properties to sell more quickly. For this reason, it is beneficial to use an agent when searching for properties.  They have tools and resources to locate your ideal home.  Some properties you may never find without the help of a Realtor.

As a buyer, the services of a Realtor will cost you nothing.  In almost every scenario, the seller of the home will pay the Realtor his/her commission.

Congresswoman Shelley Moore Capito celebrated the Affordable Housing Program’s (AHP) 20th anniversary with words of huge support for the program.  Capito also highlighted 16 West Virginia banks for helping to bring more than $10 million in housing assistance to the state.

On August 24, 2009, Rep. Capito gathered with nonprofit groups, community leaders, developers, and bankers at the Rea of Hope New Life Apartments, a transitional housing program for women recovering from chemical dependency.

AHP provides private funding for the purchase, building or remodeling of lower-income affordable housing units throughout the Mountain State. Now in it’s 12th year, it has also provided grants to first-time homebuyers for down payment and closing costs.

“Community cooperation is critical when it comes to developing and providing affordable housing,” said Capito. “Programs like this one help make it possible for families across our state to find affordable housing when they need it. And as affordable housing remains a priority in Congress, it’s also critical that our communities play a role in the solution. I applaud the work of the Affordable Housing Program and the Federal Home Loan Bank of Pittsburgh, and look forward to seeing the program’s continued success.”

Since the first AHP funding, $9.7 million has helped create 1,213 units of affordable housing in the state, while another $929,000 in first-time homebuyer grants has helped lower-income families close on 155 homes.  In all, nearly $10.6 million in combined funds has supported 1,368 affordable housing units in West Virginia.

The Charleston and Huntington area is much more than real estate and homes for sale. Watch for new information coming soon on our local area.  In the meantime, here is a great list of utility companies to help you get established in the new area.

Click Here for Local Information

The process of moving to your next home can be one of the more stressful events in life. My goal is to make your home-buying experience as pleasant and rewarding as possible. I have years of experience in the Charleston and Huntington area market, and based on your unique situation I will be able to inform, advise and guide you every step of the way.

There is a great deal more involved in selling your home than placing a For Sale sign in your yard.  From setting a price to staging to extensive marketing and attracting buyers to negotiating an agreement… there are a series of choices, and each one can make a distinct difference in the final outcome.

Relocating to another city can be a stressful experience. You are needing the best service and information, and don’t have any time to waste looking for it. Put my 11+ years of relocation experience and affiliation with over 125,000 Coldwell Banker agents in more than 3,800 offices worldwide to work for you!

Whether you need area or mortgage information, an experienced buyer’s agent, or assistance in marketing and selling your home; I am here to help. Let me make your relocation experience easier!