Carver Communications - Index

Carver Communications - 5.15.09 - Index

May 15, 2009 REAL ESTATE NEWSLINE 3
What A Meeting!
What an awesome May meeting
Women’s Council of Realtors had. If you
weren’t there you really missed a great
panel of experts who brought us some really
good information for all sides of getting
a deal closed.
From the Inspector – Scott
Emerson: It is important to prep both a
buyer and a seller before an inspection and
what a great tip to help the inspector out by
having the seller leave out information on
insurance claims, pest control servicing or
A/C / Heat servicing. This helps answer
questions or prevents things from being
written on inspection reports. Also, how
important in today’s market of being the
beauty contest winner home, to get pre
inspections of the property so it takes the
unknowns out of the equation when the
buyer is purchasing. Also some of us did
not know about the TREC OP-I form that
helps the buyer understand how codes have
changed and not all houses are meeting the
standards of a new home being built right
now and that does not mean the home
By Missy Stagers
President, Women’s Council of REALTORS
needs to be condemned.
From the appraiser – Ed Gray: We
learned about some of the new rules coming
out about how an appraisal is to be
ordered. But most importantly the appraiser
and agent can still talk and discuss
comps without any problems. Appraisals
can be transferred now with streamline
efficiency as they do not have to go back to
the appraiser for a name change. This
additional information helps agents trying
to price homes. We learned that currently
they want two comparables in the neighborhood
within 90 days. Then they can use
the rest of the comparables older then that.
If you have a neighborhood with no comparables
where can you look for them?
First a neighborhood is where the subject is
located; a subdivision is the areas surrounding
which may consist of more than
one neighborhood so you may also pull
from the subdivision. Stone Oak is a great
example many neighborhoods within a
huge Subdivision in itself.
From the lender, Dan Diepenhurst,
Legacy Mutual Mortgage, gave us some
great advice - expect a longer wait for
underwriting, and credit checks are vital
for the buyer to have an interest rate quoted.
So far this year many of the loans
(most) have been government loans. We
also learned from Travis Kessler with the
San Antonio Board of Realtors that almost
72% of all the sales in the first quarter were
under 250,000. Good information was
given about the new tax credit and we were
given more clarity on the subject.
From the title company, Brian
Pitman, Independence Title, gave us some
great insight into short sales, foreclosures
and multiple lien holders and dealing with
them from a title prospective. Also, claims
are up nationally, so items that may have
been waived in the past on title probably
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won’t fly today. Again, it is important to
know that getting to closing table itself is
lengthier and everyone needs to plan on it.
From the realtor – D’Ann Harper:
We learned how to reduce liability as a
buyer’s agent when working with limited
service brokerages by using TAR form
1504. It helps clarify who you are representing.
What is the best way to handle
multiple offers and why would you not
want the other parties informed that you
have multiple offers.
WCR just may have to do this
again, in a longer format than our business
resource meeting as we ran out of time for
all those questions many where wanting to
ask. If you have never been to one of our
meetings, check us out at our next one.
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