lifestyle

Real Estate

We asked Jentzen Rose, a realtor from Exit Realty to give us the ins and outs of the real estate business, more particularly things that soon-to-be homeowners should know before buying a house.

*What is the most beneficial thing you’ve learning while being in the real estate business?

How easy it is to make poor decisions when buying a house, but also how easy it is to buy a house and make money off of it. It is really easy to screw it up, but also really easy to make good investments. If you are working with a professional, you will be able to capitalize on your investment. It is really easy to buy at the wrong time and easy to buy something, not understanding how to increase your home value and sell it for more later.

People usually don’t know what they’re doing when looking for a home by themselves. It’s like if I were asked to play the violin in an orchestra but have never played the violin before- I could try and maybe get lucky but it probably won’t happen.

*What are the largest risks when purchasing a home?

The first risk would be losing earnest money- One of the responsibilities of the realtor is to make sure your earnest money isn’t lost. This happens when you don’t understand the rules entailed in the contract.

A second risk would be a market crash- it’s inevitable, it’s going to happen at some point in time, but when you use an experienced realtor, they can help you through this. An experienced realtor knows HOW to help you when you’re upside down in a house by ‘short selling’- which is when a realtor sells your home for less than what you owe and still has the bank forgive your debt. We short sell your home before it forecloses so it has less of an effect on your credit and the debt isn’t held over your head. Lastly a realtor helps you plan for your future- they have a plan on how to INCREASE the value of your home throughout the years that you own it as well as analyze the market to help you make better investment decisions because some people sell and buy at the wrong time which costs them more money in the end.

*How do you choose a good realtor?

The most important thing to consider when choosing a realtor is how well the person communicates. The realtor is the mouth piece of the transaction so if it’s not someone who is positive and good at communicating then no one will be able to connect with your offer.

Second, choose someone who cares about you. The realtor has a fiduciary duty (when a realtor is making decisions that will benefit you- thinking constantly in your best interest.) with your finances, investments, everything.

Lastly, choose someone who understands real estate contracts. Sadly most Americans don’t read the contracts that they sign, but if your realtor knows your whole contract, they’ll be able to educate you on what you’re signing.

*What are the most important things to look for in a good house?

  1. Location – not only as an investment, but in personal development, where you live is majorly important in your life. Finding an area that is growing and becoming a more popular place to live because the more people are trying to live in that location, the more the prices will go up. That’s why real estate in large cities is so much higher, more people are trying to live there. On a personal level, if you’re not happy with where you live and don’t feel secure or safe there, you won’t be happy with your home no matter how nice it is.
  2. The necessities- does it have a good structure? How’s the electrical? Are there any major water problems such as leaks or flooding? If these problems are there, they will be very costly to repair and may not be worth purchasing the home.
  3. Future plans- does it have enough room for your family to grow in? As an investment, will it be worth renting in the future? Is it personal enough for you to like but basic enough for you to sell?

 

The most important thing is you have to find someone who is invested in helping you find where you want to spend the next 5-10 years of your life. Sometimes that can be a really hard decision to make on your own- but having the help of not only a professional but a friend will help you make not only a better decision but one that you will be happier with.

Chrissy

{ JT has been in the real estate business for two years. He is currently finishing up his degree in Marketing at University of Utah. He’s funny, adventurous, loves to help others succeed… and we’ve been dating for three months!}

Stay tuned in coming posts from JT about

What repairs will be most valuable to you in the future

The most trendy places to live

How to make your home feel more open

How to prepare to sell your home

 

Jentzen Rose with Exit Realty

jentzen.rose@yahoo.com

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