Homebuyers: 5 Warning Signs You’ve Got a Bad Agent

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If you’re like most homebuyers, you’re probably unfamiliar with the home-buying process, so you tend to second-guess yourself if your agent fails to meet your expectations. Are you being high maintenance, or is this just the way business is done? Take a look at this list of five red flags you could encounter as you shop for a home. If you run into any of these, the problem isn’t you—it’s your agent.

1. Communication Issues
One of the most common complaints homebuyers have about their real estate agents is that they can’t get in touch with them easily. As the housing market heats up, it’s becoming more important to move quickly when you find a home you’re interested in. If your agent isn’t responding to you in a reasonable amount of time and it’s costing you home-buying opportunities, you and your agent are missing out!

2. Power Struggles
It takes a certain level of confidence to walk with homebuyers through one of the most expensive purchases they’ll ever make, but that doesn’t mean your real estate agent can forget that you’re the boss. An agent who pressures you to consider homes that are out of your budget or pushes you to accept a price that’s too high may be more interested in their commission than in helping you find a home you can afford.

3. Lack of Leadership
The opposite side of that coin is an agent who agrees with you on everything and doesn’t offer any guidance. You want an agent who can give you honest advice based on their research and experience—even when you may not fully agree. An agent who’s too wishy-washy may not have the experience you need to negotiate a good deal on your new home.

4. Abundance of Attitude
As we mentioned, you want your agent to have confidence in their ability to do a great job for you, but that shouldn’t translate into rudeness. No matter how many questions you have or how basic they may be, your agent should have the patience to answer each one without a lot of confusing jargon. You should also be able to trust your agent to behave professionally on your behalf. Remember, you don’t have to put up with attitude to get a great real estate agent.

5. You’re Getting Nowhere 
If you’ve been working with your agent for months and aren’t any closer to buying a home than when you started, that’s a big problem. Admittedly, you could be contributing to the problem if you’re being too critical of the homes your agent shows you. But if your agent isn’t showing you homes at all or is showing you homes that you’ve said aren’t right for you, you’re wasting time. It may be time to hire a new agent.

Introducing the Beautiful 3014 Fox Mill Road in Oakton, VA

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There are some homes that just have it all and this is one of them. As you approach the majestic 5-acre wooded expanse, you’ll immediately feel as though you’re in a peaceful retreat – that you can call home!

The gorgeous colonial-style house highlights custom features such as an outdoor gazebo off the master suite deck, private hot tub, a premium kitchen and a very large, open foyer flanked by a gorgeous staircase. This house is brimming with attention to detail with all those high-end finishes you know, you love and you expect in an estate; details like crown molding, custom fireplaces, wall accents in the formal dining room and more.

From the moment you enter the home, you’ll feel comfortable and at ease in its large rooms and well laid-out floor plan. With oak floors throughout the home, a large great room that features vaulted ceilings, finished basement and more – this home is perfect! And like the other rooms in the house, the huge master suite is also spacious with vaulted ceilings plus a walkout deck.

The large kitchen features solid oak cabinets, granite counter tops and a conversation-flowing center island – not to mention a plethora of cabinetry and storage space.

Outside, you will feel right at home yet among the peaceful surroundings of beautiful mature trees and lush landscaping yet just minutes from highways 66 and route 50.

Sound intriguing? Wait till you see it. Call us today to schedule a tour of the home.

(703) 995-9449

How Soon After a Short Sale Can I Buy a Home?

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Contrary to popular belief, a short sale does not have the same impact as a foreclosure when it comes to your credit outlook and buying another home. It turns out that with FHA loans you can typically get into another home just two years or so after a short sale. You do have to have an approved hardship such as divorce, job relocation or death. This does not apply to anyone merely trying to take advantage of the distressed sale market.

Homeowners Should Stay Current On Payments, Despite a Short Sale

The single most important thing to keep in mind is how you treat your debts leading up to the short sale. As long as the preceding 12 months are handled with care and all payments are up to date, most loan officers and underwriters will not have a problem with lending you money again.

Distressed Homeowners Need to Put a Plan of Action Into Place to Rebuild Credit

It’s important to have a solid plan in place. But even then, many homeowners are forced to stop making payments on their home, which leads to short sale or worse, foreclosure. If that were to happen the next step is to work hard at rebuilding your credit. This is where it can take anywhere from two years or more to get back into a home. The variance comes in a couple different areas. First, if you have some money to put down on a home it will likely increase your chances of being able to borrow after a short sale or foreclosure. With a conventional loan if you have 20% of the purchase price to put down, you can reasonably expect to move in 2 years after a foreclosure. It will be 3 years if you have 10% to put down and so on.

Creditors Will Scrutinize Those Credit Scores

Another factor is your credit score. Many people are able to maintain a good credit score despite being in situations of financial hardship. This works to their advantage when they go to buy another house.

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The most critical piece to keep in mind is to maintain your payments and not be late on anything – even if you are facing short sale or foreclosure. Second, work to develop a game plan and then do whatever it takes to achieve your plan of action. For more information on this or anything else about a home in distressed situations, call your mortgage broker today.

One promising development that will also impact homeowners opting for short sale to relieve their financial hardship is that the Mortgage Forgiveness Debt Relief Act has been extended for another year. There had been much speculation as to whether or not this would happen in 2012 with the deadline the last day of the year but at the very last minute Congress decided to extend this benefit. Instrumental in helping struggling homeowners to get back on their feet, the Act provides tax relief by waiving the tax liability on discharged debt that would otherwise be considered income.

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As always, we welcome the opportunity to serve you with this – and any other real estate concerns you may have. Contact us today so we can begin making your real estate dreams become a reality!