Bryan Vogt's Metro East Illinois Real Estate Blog: November 2009

MISTAKE #7 RUSHING INTO IT

Buying real estate is a fun and exciting process. It is filled with hope and excitment for the future. Let's face it, it is what the American Dream is all about. That said, the market can move pretty fast. that does not mean you have to make decisions before you are comfortable, though.

Buying a house is a major investment. For most people, wealth and quality of life depend greatly on the performance of their real estate investments. That means this is not something you want to rush into. Take time to make sure you are making the right decision for you and your family. Look deeper. Look at the details of the home. Examine the appliances. Consider the view. Experience the property by yourself, with no real estate agents or sellers present. Come back to the property at different times of the day You need to know what you are getting yourself into before you make a desision.

Also, make sure you hire a professional home inspector and study the results carefully. This will often influence the offer you are willing to make.

There is a fine line between letting a good opportunity pass you by and taking the requisite time to make sure this is the property for you. That is a decision you have to make and one you definately don't want to regret. Make sure you are comfortable with your decision and then move boldly ahead. Don't let a house's positive attributes blind you to very real problems. If you do, the chances are good that you will end up spending much more money than you ever expected down the line.

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
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O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: buying, investment, real estate

MISTAKE #6 FAILURE TO RECOGNIZE FACTORS OUTSIDE THE PROPERTY ITSELF

Once you have found a house that fits your criteria and your price range, your work is not done. There is an old adage that is important to remember at this stage of your decision making process: "You are not just buying the house, you are buying the neighborhood."

In other words, don't forget the big picture. If you love the house but it's not close to shopping, that will quickly detract from you ability to enjoy your home. If you have children, make sure to find out what schools they will attend. Check the safety records for the neighborhood. Consider the city or community as a whole: are community activities offered? Are there local taxes and if so, what will that cost be to you.

All of these things should be factored into your decision, as well as into the offer you are willing to make. Remember, even if these item do not affect you personally, they will factor into your return on investment when the time comes to sell your home. In addition to a house, you are buying a lifestyle. Where you live will dictate much of your livelihood. Take a step back, look at the big picture, and make sure you are buying into something you want to be part of.

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
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O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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MISTAKE#5 MAKING TOO LOW AN OFFER

Real estate transactions are unusual in the you are not dealing with fixed prices. As consumers, we are all accustomed to walking into a store, seeing an item and paying the price on the price tag. However, if given the opportunity to barter and pay less, how much lower would you go?

Well, for many homebuyers, the tendency is to go extremely low with the idea of , "What can it hurt?" What often happens in these situations, however, is that the offer is viewed as an insult to the seller and the negotiations have begun on the wrong foot.

This is not to say some rare properties don't sell for well under the asking price. However, a wise homeowner will trust his or her real estate agent's recommendation when it comes to making an offer. Houses sell based on what similar houses in the area recently sold for. Your real estate agent has access to this information and should help you determine what fair market value is for a home. Trust his or her recommendation. This is what they do for a living, and it is something you do every five to ten years on average.


Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
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O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: fixed prices, low offer, negotiations

MISTAKE #4 BUYING WITH YOUR HEART, NOT YOUR HEAD

For most people, buying a house is one of the most significant investments they will ever make. Therefore, it is not surprising to learn that the home buying process can be a highly charged and emotional process. However, the key to getting the best home for you and for your money is to keep emotion out of your home selection as much as possible.

The best way to go about this is to devote some time and give it some real thought. Sit down and discuss what features are most iimportant to you and your family. Create a list of your needs and another list for you desires, Then present these lists to your real estate agent.

One of the ways I help my clients is to provide them with a buyer questionnaire. It forces them to sit sown and truly evaluate what is most important to them in a house and what is less important. It helps them create a clear picture of what they are looking for, and it helps me find homes that best fit their needs without wasting their valuable time.

The objective here is not to let yourself buy a property just because you fell in love with the kitchen or because it has a heated whirlpool spa. Buyers who buy emotionally and on impulse often wind up regretting their purchase when they realize that their home does not accommmodate their true needs - not enough bathrooms, not enough storage apace, etc.

Additionally, if you do find the perfect home, don't let your emotions hinder your negotiating position. Once the seller knows you are excited, their negotiation muscle is flexed and your ability to get the best price will be compromised.

Buying a home is exciting and it should be a fun process. On the other hand, regret is something nobody wants six months later. Enjoy the process but don't let yourself get caught up in it.

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: desires, negotiate, wants

MLS# 2915122


$250,000








Virtual Tour Link http://www.PropertyPanorama.com/83353

You will love the breathtaking setting of this custom home one nearly ½ acre with mature trees. Located on quiet cul-de-sac with other custom homes, this energy efficient home features plaster walls, large family room with fireplace, and bar, that opens to the kitchen and breakfast area. The living room/dining room has a cathedral ceiling giving it an open, airy feel. The home has a large multi-level deck, and covered side porch. The master bedroom has its own private balcony. The gourmet kitchen and breakfast area overlook the main deck and allow you inviting glimpses of nature. An open floor plan lends itself to entertaining family and friends. There are quality features throughout this home including extra attic and wall insulation and double glazed windows. If you feel you need more space, the full, daylight basement is waiting to be finished and has a rough-in for a bath. Storage space is not a problem: there is 400sq ft of walk-in storage over the garage, accessible from the second floor.

http://www.bryanvogt.com.idxre.com/idx/detail.cfm?cid=4294&bid=72&pid=2915122&ff=1

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
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O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: Belleville, Cul-de-sac, Custom Home, Wooded

MISTAKE#3 SHOTGUN SHOPPING, AKA WORKING WITH TOO MANY REAL ESTATE AGENTS

Typically, the home buying process goes something like this: You pick up a few newspapers. look throught the ads, see a few interesting homes, drive through the neighborhoods, and then you end up calling the agent who advertised the house.

Before you know it, you have called on several houses, therefore, you suddenly have several real estate agents trying to find homes that fit your needs and desires. By doing so, you have selected your realtor by default. This is a huge mistake.

The preferable way to go about finding the best home for you is to choose one agent and have them show you homes that match your criteria. The truth of the matter is this: All real estate agents have access to the exact same information. The Multiple Listing Service provides the same descriptions of homes to every agent, so choosing an agent based on a house they just happen to advertise is doing yourself a major disservice.

The question then becomes how you choose an agent. How do you know who is good? Well look for indicators of success. The quality of an agent's marketing will often be indicative of their quality as an agent. Start by asking for a copy of their personal brochure. Do they have one? Does it tell you who they are rather than simply provided a laundry list of accomplishments and designations that you can't decipher anyway?

Look for a personality match. Remember, all agents have access to the same list of houses for sale, so the most important aspects of their service will be your needs. That's why a face-to -face meeting is usually best at this point.

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: agent, marketing, Realtor

MISTAKE #2 FAILURE TO GET PRE-APPROVED (NOT JUST PRE-QUALIFIED---THERE'S A DIFFERENCE)

Many of today's leading real estate agents prefer not to work with a buyer until the buyer is pre-qualified for a loan. This may seem exclusionary at first, but by doing so, the agent is actually doing the home buyer a huge favor. The truth of the matter is that shopping for a home without being pre-approved wastes everybody's time. That's why I always advise anyone interested in buying a home that the first step they should take is to their mortgage lender. Once there, get pre-approved, not just pre-qualified.

Let me explain the difference.

Being pre-qualified means you have spent a few minutes with a lender who may have asked you several questions, but generally has no real insight into your financial obligations and, by extension, your overall financial situation. Even if a lender provides you with a certificate indicating you have been pre-qualified, the buyer knows that no financial information has been verified at that point, which devalues your negotiating power.

On the other hand, being pre-approved indicates to the buyer that you are a serious prospect. Getting pre-approval requires disclosure of financial information and provides you with an actual dollar amount that you can spend. Not only does this provide you with confidence to shop smarter, it also gives you an advantage if more than one buyer is interested in a property. If the seller had three offers, but your offer is the only pre-approved offer, the seller knows you are at least one step ahead of the others and can proceed more quickly. The other offers may encounter snags in getting the "pre-qualified " loans actually funded. By being pre-approved, that will not happen to you.

It is not as exciting as jumping in the car and looking at houses, but getting pre-approved is a great way to give yourself an advantage when the time comes.

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: lender, pre-approval, pre-qualified

MISTAKE # 1 BEING UNPREPARED-

It almost goes without saying, but buying a house is serious business. However, many homebuyers enter into the equation unprepared or haphazardly. Sure, it is always fun to look at houses and get a feel for the current market conditions, but before you get serious about buying a home. you need to have all of your ducks in a row.

This means making sure your current living arrangements can accommodate your move. If you are renting, be sure you have reached the end of your lease or are renting month to month. If you own a house, be sure it is sold before you prepare to make an offer. It means having your finances in order and collecting proper documentation required on your loan, such as paycheck stubs, bank staements and tax returns. It means giving thought to exactly what your needs and desires are in a home, and being able to differentiate the two lists.

Being prepared also means being physically and emotionally ready for your move. People often underestimate everything that is involved in a move, from packing up every last belonging to arranging for help. Once you find a house, the process can move very quickly, which comes as a surprise to many home buyers. Emotionally, the less prepared you are, the more taxing the process can become.

By no means am I trying to give you an excuse not to move. But before you do, I want you to understand what you are getting yourself into. No one wants to work toward finding a house, only to learn that you are unable or unprepared to move. That is severly disappointing for both the buyer and your real estate agent.

Get serious about it, prepare yourself, and get ready for your best move ever.

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
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O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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SHOWING CHECKLIST

Here is a quick checklist to be sure you are ready for showings. By preparing with the six steps above, showings should be a breeze.

• SECURITY SYSTEM; Turn off system (if applicable)
• DECLUTTER; Be sure all potential "distractions" are tucked away to include; papers, toys ,shoes, etc.
• DEPERSONALIZE; Remember we are aiming for the generic "hotel" feel, hide away all item that remind buyers that someone lives there; i.e. robes on the back of the door, toiletries, etc.
• LIGHTS; Turn on all lights, open all blinds, window treatments, etc.
• PETS; Place pet in a comfortable confined area.
• QUICK WALK-THRU; quickly glance one more time to be sure everything looks crisp and neat.

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: checklist, showing

TIP # 6 SPECIAL TOUCHES

If you have the time, fresh cut flowers or arrangements are a terrific special touch in any room! In the staging process, little things do matter. Think of "staging" as if you were having guests for dinner. What would you do to make tham feel welcome and "at home". Those types of little things count. Have fun with the special touched as you open your doors to potential " permanent" guests.

This all may seem like a lot of work, but in the end this small investment of time will get you "top dollar" on the sale of your home, as well as help you to be that much more prepared and organized for your upcoming move!

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: staging

TIP#5 CREATING SPACE

A great way to make your room feel larger is to reevaluate the placement of your furnishings. Step back and take-a good look at each room from the buyers point of view. Does it look crowded? Small? If it does, consider moving some furniture from the room and rearranging what is left. the larger you make the room appear, the more appealing it is to the buyer. Chances are , if it looks crowded to the buyer they will assume that it will be too small for their needs as well.

Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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Labels: buyer, space, staging

MLS# 2914561 $400,000

Looks are deceiving. This is no ordinary home! The 42x18 foyer is two stories high with a fabulous designer ceiling and a grand staircase leading to the second floor bedrooms, deck, and loft area. There are 8 bedrooms, large closets, 5 full baths and a finished basement. One of the rooms houses a hot tub, another, a second kitchen. It has a fireplace for cool nights and, game, rec rooms and a bar for entertaining. Crown molding and marble and tile floors are some of the extras that make this home something special!

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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MLS# 2914530 $265,000
Godfrey, Illinois

You must see this special ranch! The open floor plan, with vaulted ceilings lends a light and airy feel to this home. The birch cabinets in the kitchen are topped with crown molding and there are an abundance of hardwood floors throughout many of the rooms. The sun room will be a quiet restful place to enjoy the evening air or sunny mornings. Stairs lead to a lovely brick patio that would be ideal for bar-b-ques or get-togethers with family or friends. The lower level has a partially finished rec room and is plumbed for an additional bath. This home has plaster walls throughout, a lawn sprinkler system, and an oversized garage with two separate doors for easy entry.

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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TIP#4 LIGHTING

Light not only gives the illusion of space, but as you know, great lighting can "set the mood". How do you feel when you walk into a bright, sunny space? It make you feel warm, happy, and welcome. This is exactly the way we want a potential buyer to feel.

Here are some things you should do before each showing if possible:

• SUNLIGHT: We want as much natural sunlight as possible. Open the drapes, pull up the shades, and open the blinds. Let the sun shine in.
• LIGHTS: First, be sure ALL light bulbs in the house are in working order by changing burnt out lightbulbs. Also, if posssible, turn on all the lights in your home prior to a showing. If the lights are on, the first impression is big and bright. It also keeps the flow of "taking in" your home by not having to disrupt the mood by fumbling for light switches. You could also purchase timers to keep lights on for certain periods of the day if you are working.
• CABINET LIGHTING Turn on the lights in your china hutch, bookcases, etc.-

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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TIP#3 PETS

Although we love our pets like family, buyers will not. Buyers may be concerned about whether Fido has had any accidents on the carpet, or about their sons allergy to cats. The best way to avoid these concerns is to make it appear (as much as possible) that the home is pet free.

In order to be prepared for showings at all times, some permanent changes regarding your pet will make your life easier.

• Change the location of the pet food & water bowels
• Change the litter box location to the utility room as well. Also be sure it is freshly cleaned
• Keep all pet toys, leashes, etc. discretely out of sight

Even if you have the friendliest dog or cat in town, it is very important to never have him out during a showing. This is not only for your protection, but also for your pets - we don't want him escaping! Here are some suggestions:

• Place your pet in an out of the way place such as a garage of fenced yard ( weather permitting) or perhapse the utility room. Place your pet in a crate or room with door closed to avoid disruptance to him and the potential buyers.
• If at all possible have someone "babysit" your pet during showings.

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Bryan Vogt
Strano & Associates, Realtors® - GMAC Real Estate
(618) 355-5824
---
O'Fallon IL Real Estate, Condos, Homes for Sale
Swansea IL Real Estate, Condos, Homes for Sale
Bellville IL Real Estate, Condos, Homes for Sale
Scott AFB PCS Relocation
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