Greetings, All:
This weekend (August 17), homebuyers visiting open houses will be asked if they’ve signed a Buyer Representation Agreement with a licensed agent. There are limits to what agents holding an open house can share with a homebuyer depending on whether or not they’ve signed on with a “buyer’s agent”.
We’re just in the beginning stages of a new way of conducting business, and I’ve likened it to how competing sides hire their own attorneys to represent their best interests. A plaintiff hires and pays their own attorney, and the defendant does the same. It may take a while before everyone, including real estate agents, adjusts to the changes and myriad of new forms to fill out. If I’m a homebuyer, do I really need an agent? Excellent question…let me count the ways.
Using a good buying agent when purchasing a home can offer significant value:
1) Expertise and Market Knowledge: A good buying agent has in-depth knowledge of the local real estate market. They can provide valuable insights into neighborhoods, property values, and market trends that can help you make informed decisions.
2) Access to Listings: Agents often have access to listings before they hit public platforms. This means you might see properties sooner and have a better chance of finding a home that meets your criteria. At Compass, we have access to “Coming Soon” and “Private Exclusive” listings, not to mention our team is privy to information about new listings through the various networking groups we’re part of.
3) Negotiation Skills: Experienced agents are skilled negotiators. They can help you get the best price and terms for the property you’re interested in, which can save you money and ensure you’re making a sound investment.
4) Guidance Through the Process: Buying a home involves many steps, including making an offer, arranging inspections, securing financing, and closing the deal. A buying agent can guide you through each step, helping you understand what to expect and ensuring that nothing is overlooked.
5) Networking: Good agents have a network of professionals, such as inspectors, appraisers, escrow and title search people and mortgage brokers, who can assist in various aspects of the home-buying process. They can recommend trustworthy and reliable contacts, making the process smoother.
6) Objective Advice: An agent can offer unbiased advice and help you see beyond the aesthetics of a property. They can help identify potential issues and assess the true value of a home, ensuring that you’re making a well-informed decision.
7) Time Savings: Searching for a home can be time-consuming. A buying agent can handle much of the legwork, including scheduling viewings, filtering listings based on your criteria, and coordinating with sellers.
8) Emotional Support: Buying a home is often an emotional experience. A good agent can provide support and reassurance, helping you stay focused on your goals and making the process less stressful.
Overall, a skilled buying agent can enhance your home-buying experience by providing expertise, resources, and support, which can ultimately lead to a better outcome for your purchase.
I realize I’m patting our own backs by saying our team is exceptional at all of the above, which is evidenced by the repeat business we’ve enjoyed for well over 30 years combined.
We’re looking forward to navigating these uncharted waters with you and anyone you refer to us.
Derek, Natalie, Mo & Chrissie
|
by Patrick Carlisle, Market Analyst for Compass Bay Area
As of August 8th, mortgage rates had declined to their lowest point in over a year, while financial markets were experiencing very substantial volatility. Most analysts believe the Fed will finally begin to drop their benchmark rate in September (pending a positive inflation report in mid-August). Lower interest rates, of course, have a considerable effect on the cost of homeownership for those financing their purchase, and a sustained decline would almost certainly spark increased market activity – not only of buyers but potentially of sellers who held off listing their homes in the past 2 years due to the “mortgage lock-in” effect. Much depends on the scale of any decline in rates – as well as possible changes in other economic conditions – through the end of the year.
|
New Listings | Just Sold | Announcement
|
Mike, a Senior Vice President of Mortgage Lending with OriginPoint, has over 22 years in the mortgage business and has been helping our clients secure financing since 2008.
His favorite things to do include spending time with his wife Laura and his 6-year-old son, Mateo. Mike says, “Together we enjoy cooking, watching movies, and shooting hoops in the backyard. Over the last year, I have developed a passion for meditation, intense breath work, and cold plunging. These healthy practices teach me to calm my mind in stressful situations and to focus on being present. If you’d like to learn about mortgages or breath work, I can be reached via call/text/email. More than anything, I love to connect with people and to be of service!”
He’s not only excellent at what he does, he’s a wonderful person we’re proud to call our friend.
Mike Hoyt
SVP of Mortgage Lending
NMLS: 653785
Mike@originpoint.com
(415) 517-0900
|
* Dynamic pricing? Digital shelf labels, with high-tech price tags allow stores to quickly and easily change the prices of goods they are selling based on demand and supply…..(CNBC)
* Between May 2022 and May 2023, home insurance prices rose an average of 21% at renewal time. A rise in catastrophic severe weather events contributed to this jump and the rate of price increases are not expected to slow. As insurers face higher costs, they pass those along to consumers in the form of pricier premiums. However, insurers don’t share data on individual homeowners’ premiums and risks, so it’s difficult to calculate just how climate risk is factored into the price of policies.
|
|
|
The California state park was established in 1968 and added another 200 acres to its footprint last year. Located outside Los Gatos near a number of other gorgeous sites dotted along the Santa Cruz Mountains — Big Basin Redwoods, Portola Redwoods, Año Nuevo and Butano state parks — Castle Rock manages to stand out from the pack.
|
Cars line up around the block for this Bay Area drive-thru’s ice cream
At the corner of Neal Street and Railroad Avenue in Pleasanton is the storied Meadowlark Dairy, a third-generation family-owned business that sells everything from fresh milk to soft service ice cream via drive-thru. Meadowlark Dairy has a deep history in the Bay Area that dates back more than a century.
|
|
|
|
Nestled along the rugged northern coastline of San Francisco and named for the seaside cliffs that define the neighborhood, Sea Cliff is the embodiment of natural beauty and exclusivity. With its stunning views of the Pacific Ocean, lush greenery and grand mansions (some built directly into the cliffs), Sea Cliff captures the awe of all who visit.
|
Since Compass launched in 2012, we’ve been simplifying the real estate process one community at a time. Today, we have more than 250+ offices extending from coast to coast.
|
© Compass 2024 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
|
|
