What are the top ten home inspection problems?

1.Improper surface grading and drainage. This was by far the most frequently-found problem, reported by 36 percent of inspectors.


2.Improper and undersized electrical wiring. This includes such situations as insufficient electrical service to the house, aluminum wiring, inadequate overload protection, improper grounding and dangerous amateur wiring connections.

3.Older and damaged roofs. Asphalt shingle roofs only last about 15 to 20 years.

4.Deficient and older heating systems.

5.Poor Overall Maintenance. This includes items such as cracked, peeling or dirty painted surfaces, crumbling masonry, make-shift wiring or plumbing and broken fixtures or appliances.

6.Structural Problems. This includes issues with the foundation walls, floor joists, rafters or window and door headers.

7.Plumbing problems.

8.Exteriors items. Flaws in a home's exterior, including windows, doors and wall surfaces are responsible for the discomfort and damage caused by water and air penetration. Inadequate caulking and/or poor weather stripping are the most common culprits of a cold and drafty home.

9.Water damage.

10.Miscellaneous items. Various interior components, such as sticky windows or dripping faucets, as well as a number of environmental concerns, such as lead-based paint, radon, mold and asbestos.

Call me for all of your real estate needs--Lisa Baumberger  406-2408-5560

I plan to sell my home this coming fall. What do I need to do to get it ready?

1.Maintain your landscape--make sure the lawn is cut and leaves are picked up. Mums or fall flowers on the deck are always a nice touch.


2.Keep your house warm. Prospective buyers are turned off by a cold house.

3.Let in the light. During the day open the curtains and drapes. At night put on all



Call Lisa Baumberger for all of your real estate needs 406-208-5560

What are the advantages of buying a home?

1.Savings--Long-term homeownership will save you money that you would have otherwise lost to a landlord.


2.Tax breaks--Most homeowners are able to take a mortgage interest deduction on their taxes.

3.Equity--When you pay on your mortgage, you are paying towards owning your home. If you make improvements, you benefit from those improvements.

4.Budgeting--A fixed-rate mortgage means your monthly payment is the same amount for the life of the loan. The only increase is the taxes or insurance.

5.Security—You own the home. As long as you are paying your mortgage, you can’t be asked to leave. It is your home.

Call me for all of your real estate needs--Lisa Baumberger  208-5560

What are some inexpensive things that I can do to prepare my home for sale?

1.Savings--Long-term homeownership will save you money that you would have otherwise lost to a landlord.


2.Tax breaks--Most homeowners are able to take a mortgage interest deduction on their taxes.

3.Equity--When you pay on your mortgage, you are paying towards owning your home. If you make improvements, you benefit from those improvements.

4.Budgeting--A fixed-rate mortgage means your monthly payment is the same amount for the life of the loan. The only increase is the taxes or insurance.

5.Security—You own the home. As long as you are paying your mortgage, you can’t be asked to leave. It is your home.

Contact me for all of your real estate needs--Lisa Baumberger  208-5560

What should I expect from my real estate agent when he/she lists my home?

Questions – your agent should thoroughly get to know you, your situation, your expectations and your home


Comparative Market Analysis – this will help you determine how much you want to list your home for

Commitment – make sure you find out exactly what your agent is willing to do to help you sell your home (i.e.: open houses, advertising)

Great photos and an informative listing – your agent should take a lot of photos of the interior and exterior of your home. Your agent should also take the time to submit a very informative and descriptive listing to the MLS. This is what buyers look at to determine if they want to view your home.

Communication – your agent should provide you with suggestions of what you can do to make your home more appealing to prospective buyers and what you can do to get it ready for sale.     Call Lisa Baumberger with all of your real estate needs  208-5560 or e-mail lisab22@optimum.net

What are 5 things buyers do not want to see in a home they are viewing?

What are 5 things buyers do not want to see in a home they are viewing?


1.Dusty, fake plants

2.Messiness--underwear on the floor, unmade beds, stacks of laundry, and dirty dishes

3.Popcorn ceilings and wood paneling

4.Kitchen cabinets busting at the seams

5.Houses with too many pet items--your pets and all pet items, including the odor, should be gone for showings



Call Lisa Baumberger for all of your real estate needs 208-5560 or e-mail lisab22@optimum.net

I was told I need a letter showing I am pre-qualified, what is this?

You need to go to your bank or lender to get "pre-qualified". After reviewing your financial status they will let you know what price range you can look in when searching for your new home. This letter from your lender is required on most offers you make on a home. This should be your first step in looking for a home.

Call Larry & Jo Ann Thomas, a real estate team, for all of your real estate needs 628-2903

I am new to town, how do I know what neighborhood is best for my family?

When you find a home you like, talk to the neighbors, they are one of the best sources of information.

Ask questions at the local store and gas station. If you have children, visit the school.

For all of your real estate needs, contact Larry & Jo Ann Thomas.  We are a husband and wife team ready and willing to help with all of your needs.  628-2903

Will my offer be accepted over any other offers because I expect to pay cash?

Cash is looked at very favorably but not always. At the closing table all sales are cash to the seller because of some type of financing.

Jo Ann Thomas  406-628-2903

Are you ready to start house hunting?

our first step is to decide where you want to live. Do you want to live in the city or are you looking for a property with some land? Are you willing to commute? The smaller towns a short distance from the city often times have better prices.


Start your search early. The more time you have to look, the better chance of getting the home that matches your wants and needs. Consider house hunting in the off-season. Usually the colder months of the year are the slowest. There will be less competition and the sellers may be more anxious to negotiate.

Consider the schools when selecting a location, even if you don’t have school age children. When it comes time to sell, you will have a major advantage if your home is located in a desirable school district.

Find a realtor that is willing to show you lots of houses, even if you are looking at lower price homes. Have your realtor set you up to receive automatic emails with the new listings that come up on the market. When you are out looking at houses, you may want to take a notebook and digital camera with you to help you keep track of what you have seen.

Keep an open mind. You may be able to add a deck or fence or finish off an extra bedroom, if the price and location are right. Your realtor can be your best asset. Take advantage of their knowledge and resources.

Call me today to let me help make your home buying experience enjoyable and successful.

Colleen Foreman      406-671-0412                cforereal@aol.com

Why do you need a preapprooval letter?

If you are serious about buying a new home, you will need to know how much money you can borrow and what mortgage payment you can afford. Many realtors will want you to be preapproved for a home loan before they start showing you houses.


The best place to start is with your own bank or credit union. Your realtor can also recommend a lender they have worked with and who has a proven track record of providing quality service. The loan officer will check your credit and review your most current pay stubs, W-2s tax returns and bank statements. Most lenders can tell you right away if you are approved and how much you can afford. Once a seller has accepted your offer, you can still shop for your mortgage with other lenders to make sure you are getting the best deal.

The best homes that come up on the market sell the fastest. When you find that perfect home you will want to move quickly. When you are ready to make an offer, the sellers will want to see that you are preapproved for a loan and can afford their home. Because you are preapproved, your lender can provide an up-to-date letter for the specific property to submit with your offer.

Call me today to let me help make your home buying experience enjoyable and successful.

Colleen Foreman
cforereal@aol.com
406-671-0412

Are you ready to buy your first rental property?

Get your finances in order:

Determine how much money you have available for a down payment
Identify which lenders have suitable loans for income property
Take advantage of the low interest rates while they last.

Decide what type of rental property is best for you:
Single family
Side by Side or Up/Down Duplex
Multiplex properties (three or more units)
Mobile home parks
Apartment buildings

Choose neighborhoods that are in demand
Low crime
Good schools
Desirable location

Work with a Realtor with personal experience and success with rental property
Call me today and let me share my knowledge and experience with you about making money owning rental property in Billings.  Colleen Foreman   406-671-0412     cforereal@aol.com

What are 5 mistakes buyers make in a HOT market?

1. Don't act out of desperation, work with a good agent that keeps all the newest listings coming to you as soon as they come on the market and view them as quick as possible.


2. Hesitation can be your worst enemy, not only can you miss out on a great home but you could have your loan approval expire right about when you find the home you really want.

3. Ignoring the market entirely is also a bad idea. You should be watching the market to see what properties are listed at and go to open houses to see homes versus prices.

4. Avoid financial fogginess, you need to get approved before you start your search for your new home so that you buy within your means and what you are comfortable with so you don't lose the home down the road and in a hot market it is best to be approved, it may get your offer accepted over one that isn't.

5. The last thing is that you never want to overpay for a home, working with an experienced agent that knows the market and keeps up with the current prices will keep that from happening. It can affect your appraisal and then you may not get the home after all.

Call Sharon Weber for all of your real estate needs  670-6776

What is a SID?

It is a special improvement tax for a neighborhood that is usually for streets, curbs, and sidewalks.  A buyer would want to know if there are any as it affects how much you pay in taxes.  There is a place on the buy-sell to check, we usually check for the seller to pay off any SID's but there are times when the seller does not want to so you have to negotiate SID's

Call Sharon Weber regarding your questions  406-670-6776

I found a house I really like, but they are asking more than I qualify for, can I offer them less?

You can always make an offer.  They in turn can accept, deny, or counter offer, but often times making an offer will tart the negotiations!

Call Pam Woodard for all of your real estate needs 855-1440

Why should we not use a top producing agent?

Top producing agents may be recognizable but generally, they are extremely busy.  To ensure that you or your property gets the most attention possible, a lesser known agent can devote more time to you while carrying the same pwoer anyone else could.

I can give you excellent service and a have a broker who has been in the business for over 25 years to back me up and make sure that everything is done correctly Ryan Mx  850-2995

I am paying $1000 per month in rent right now. Can I afford to own a home?

Very likely.  It can depend on what type of loan you qualify for and what interest rate you receive.  Here is an example of a loan that might be available to you.

• The purchase price of the home is $150,000
• you receive a 30-year loan with an interest rate of 3.77%
• You make a down payment of $4,000
• Your laon amount is $146,000
• Your payment would be around $1,000 per month.

*This is a rough estimate.  Every loan type has different requirements and costs involved.  In addition different proerties have different taxes.  Lenders can give you specific calculations that are applicable to you and the loan type you choose.

I would love to work with you in connection with your purchase.  Lisa Baumberger 208-5560

What is earnest money and why do we need it?

Earnest money is a deposit that a prospective buyer provides to the seller to show good faith that the buyer plans to complete the transaction.  This money is held in a Trust Account until closing.  The money will be applied to the amount that the buyer owes, in other words it will be credited to the sales price amount.  So if the buyer purchases a home for $100,000 and provides $500 in earmest money, the buyer would now owe $99,500 to be paid at closing.  Earnest money is not essential in a home purchase, but many sellers will not accept an offer without it.  The earnest money ensures the sellers that the prospective buyers are making a serious offer.  If either party defauts (fails to follow through) on the home purchase the disbursement of the earnest money will be held in the Trust Account until it can be determined who should receive the money.

Call one of us for all of your real estate needs:  Lisa Baumberger 208-5560 or Krista Bailey 519-3653

What is PMI and when is it applicale?

PMI is private mortage insurance and is used with conventional mortgages. Lenders use the formula of 80% loan to value, which means ideally they want to loan no more than 80% of the propery's value. If the loan exceeds 80% then they want to be insured for the difference in the risk.  For example:  a $100,000 property, the lender wants to loan only $80,00 but the buyer does not have $20,000 for the down payment.  According to the buyers' credit standing the lender will accept a $10,000 down payment therefore the loan will be 90% loan to value and the lender will require the buyer to purchase a $10,000 PMI policy to cover the lender's extra $10,000.  Later if the loan to value equals or goes below the 80% the PMI policy can be cancelled if the homeowner's credit with the lender is in good standing.

Call Larry Thomas for help in the purchase of your home 406-628-2903

Are you ready to buy your first rental property?

• Get your finances in order:
• Determine how much money you have available for a down payment
• Identify which lenders have suitable loans for income property
• Take advantage of the low itnerest rates while they last
• Decide what type of rental property is best for you:
• Single family
• Side by Side or Up/Down duplex
• Multiplex properties (three or more units)
• Mobile home parks
• Apartment buildings
• Choose neighborhoods that are in demand:
• Low crime
• Good schools
• Desirable location
• Work with a Realtor with personal experience and success with rental property

Call me today and let me share my knowledge and experience with you about making money owning rental property in Billings                           
                                                  Colleen Foreman
                                                  cforereal@aol.com
                                                  406-671-0412

Do seller's help buyers with closing costs?

In today's market they do.  With changes in lending and buyers having to put cash down they need help with closing costs, so they can have enough money to purchase.  Most buyers have enough income to qualify for the mortgage payment but are usually short on the cash for the down payment and closing costs.  So it helps buyers if the seller pays them.  Some buyers offer over asking price to cover the closing costs and sometimes they are split or the seller pays all.

Call Sharon Weber for help with all your real estate needs.  406-670-6776

WHAT IF MY HOUSE DOES NOT SELL?

There are many things you could do if your property does not sell the first time.  You could relist it with the same agent, you could try relisting with a different agent, you could lease it out, you could try offering different terms, you could make some improvements to make it more desirable or many other options.  Salesmanship is all about making your product desirable.

Contact me for help with selling your home.  I have what it takes to make your product more desirable.          Ryan Mix 406-850-2995

Is it a good idea to be pre-qualified with a lender?

Yes, it is an excellent idea to be pre-qualified with your preferred lender.  Sellers will take you as a more serious prospective buyer and Real Estate Agents will be able to show you houses within your qualified price range, no guessing!  Also, your deal could go through more quickly once you find your prefert home because your money will be available for your purchase.

Call me today to have me help you with the purchase of your home.

Lisa Baumberger  406-208-5560

What does REO stand for?

REO means Real Estate Owned.  This is a term which banks use, meaning the property has been foreclosed on and the bank now ownes it.

Give me a call for all of your real estate needs.  Jo Ann Thomas  406-628-2903

If I find a home that I would like to make an offer on, how can I make sure that I am not offering too much?

You need to have a Real Estate Agent that is representing you.  As part of their services to you, they will do a Comparative Market Analysis (CM) on the home to find out what other homes are selling for in the area.  They will take that information, the condition of the home, and the history of the listing to help you determine a fair amount to offer for the home.

Call me today to let me help you with a successful home purchase.

                                              Lisa Baumberger
                                              406-208-5560

Do I need a home inspection?

Answer: This is a decision that is up to the buyer. Buying a home is one of the largest decisions people make in their lifetime. A home inspection helps buyers feel more comfortable.


Call Krista Bailey at 591-3653 with your questions

What are some of the problems encountered in selling your own home?

1. Most buyers that are drawn to FSBO's (for sale by owners) are bargain hunters looking to buy below market value.
2. Most buyers are wary of dealing directly with a seller.
3. Most buyers will want a real estate agent to negotiate with the seller and to handle the paperwork.
4. Some buyers are looking to take advantage of a FSBO's lack of knowledge in selling and negotiating real estate transactions.
5. Most FSBO's (75%) will list with a real estate agent in the long run but will have wasted a great deal of time and money advertising and encountered a great deal of frustration.

Contact Larry Thomas for more information and help selling your home or purchasing a new home.  628-2903

What are the first steps towards buying a home?

• Get your finances in order:
• Order a free credit report and check for errors http://www.annualcreditreport.com/
• Find a lender:
• Start with your own financial institution--your local bank
• Determine your down payment and loan options:
• Different loans require different down payment
• Get Pre-approved
• Pick a Real Estate Agent to help you find your new home:
• An experienced agent will guide you through the buying process
• Call me today to let me help make your home buying experience enjoyable and successful.
• Colleen Foreman  406-671-0412 cforereal@aol.com

6 THINGS YOU SHOULD KNOW

1. Price your home right
2. Once you finish decluttering, do it again.
3. Follow the four-month rule. If a house sits on the market for over four-monhs, buyers think they can get it for nothing. Take it off the market and relist.
4. Hire a cleanng crew. Nothing turns buyers off like dirt.
5. Do a smell check. A fresh, clean smell is what you want--no smoke, pets, or pungent food odors.
6. Make a price drop count. Buyers shop by price brackets so instead of $250,000 go to $249,000

Call Billings Real Estate Professionals for all of your real estate needs.

Energy-Efficient Renovations

1. Windows and Doors--caulk around windows and doors. Also caulk areas where plumbing lines or electrical wiring extend to the exterior of the home.


2. Floor and Wall Insulation--Make sure insulation is used at potential gaps such as around an attic stairway or over the attic access door.


3. Shedding a Little Light--By replacing traditional incandescent light bulbs with compact fluorescents, you can use up to 75% less energy.


4. Appliances and HVAC Systems--Start by changing filters of your HVAC systems regularly and consider upgrading older appliances.


5. Buy a Programmable Thermostat--These are fairly easy to install. For every degree that a thermostat is set back, you may realize a savings between 1-3% on your heating or cooling bills.

Call Billings Real Estate Professionals for all of your real estate needs. We have agents ready and willing to help with residential, multi-family, lots and land, farm and ranch, or commercial.

FIVE THINGS PEOPLE DO NOT WANT TO SEE IN HOUSES

1. Dusty fake plants



2. Messiness--underwear on the floor, unmade beds and stacks of laundry



3. Popcorn ceilings and wood paneling



4. Kitchen cabinets busting at the seams--you open a door and everything comes falling out



5. Houses with too many pet items--your pets and all pet items should be gone for showings

Call Billings Real Estate Professionals for all your real estate needs.

DOES YOUR HOME HAVE THE TOP WANTED LIST

1. MASTER BATH


2. WALK IN CLOSET


3. GOURMET KITCHEN


4. OUTDOOR DECK


5. HARDWOOD FLOORS


6. ENTERTAINMENT CENTER--HOME THEATER

Call Billings Real Estate Professionals for all of your real estate needs.

MAKE MINOR REPAIRS TO HELP HOME SELL

1. Repair ceiling and wall cracks


2. Repair or replace leaking faucets


3. Repair banister, handrails, cabinets, drawers, and doors


4. Caulking and grouting tubs, showers, sinks and tile.


5. Adding fresh paint


6. Tightening door handles, drawer pulls, light switches and electrical plates


7. Lubricating door hinges and locks

Call Billings Real Estate Professionals for all of your real estate needs.

5 REASONS TO BUY

1. Savings--You will find that long-term homeownership is still a way to get big savings.


2. Tax breaks--Many homeowners are still able to take the mortgage interest deduction.


3. Equity--When you pay on a mortgage, you are paying towards owning a piece of something.


4. Budgeting--A fixed-rate mortgage means your monthly payment is the same amount for the life of the loan. The only increase us the taxes or insurance.


5. Security--You own, it is yougs. You can paint, improve and decorate.

Call Billings Real Estate Professionals for all of your real estate needs.