BUYERS!
FIVE CRITICAL ERRORS THAT HOME BUYERS MUST AVOID!
THE REAL ESTATE MARKET may be slowing, creating a "Buyer's Market" in some areas, but that doesn't mean you will automatically find the best home for your money. It just means you need to be BETTER INFORMED and not fall prey to the common mistakes that home buyers often make. Here are five to avoid.

1. NOT GETTING PRE-APPROVED FOR A HOME LOAN.
It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today's market, that has proven to be one of the least effective methods in landing the dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be. You also know exactly how much your down payment will be and other important details that are provided by your loan officer.

A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property.

2. GOING ON A SPENDING SPREE.
Don't go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation. After pre-approval and before closing, any new credit obligation or late payments on existing credit may disqualify you from a home loan.

For example, every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. A new car payment of $500/month could mean that you qualify for $50,000 less in a mortgage.

Even if you have accumulated enough savings, you should consider not making any large purchases until after closing. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.

3. NOT HAVING A PLAN OF ACTION.
Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It's important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.

Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.

First, ask yourself how much can you afford to pay for a home. If you're not sure on the price range, find a lender and get preapproved. Preapproval will let you know how much you can afford so that you can look for homes in your price range. Getting pre-approved helps you to alleviate some of the anxieties that come with home buying. You know exactly what you qualify for and at what rate, you know how large your monthly mortgage payments will be, and you know how much you will have for a down payment. Once you are pre-approved, you avoid the frustration of finding homes that you think are perfect, but are not in your price range.

Second, ask yourself where you want to live and what is the best location for you and/or your family. Things to consider:

*convenience for all family members
*proximity to work, school
*crime rate of neighborhood
*local transportation
*types of homes in neighborhood, for example condos, town homes, co-ops, newly constructed homes etc.

4. NOT GETTING YOUR HOME INSPECTED.
As a buyer, you are entitled to know exactly what you are getting. Don't take for granted what you see and what the seller or the listing agent tells you. A professional home inspection is something you MUST do, whether you are buying an existing home or a new one. An inspection is an opportunity to have an expert look closely at the property you are considering purchasing and getting both an oral and written opinion as to its condition.

Beforehand, make sure the report will be done by a professional inspector who belongs to a local trade organization or a national trade organization such as ASHI (American Society of Home Inspectors). Not only should you never skip an inspection, but also you should go along with the inspector during inspection. This gives you a chance to ask questions about the property and get answers that are not biased. In addition, the oral comments are typically more revealing and detailed than what you will find on the written report. Once the inspection is complete, review the inspection report carefully.

You have to demand an inspection when you present your offer. It must be written in as a contingency; if you do not approve the inspection report, then you don't buy! Most real estate contracts automatically provide an inspection contingency.

5. NOT GETTING A BUYER'S AGENT TO REPRESENT YOU.
It's important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.

First, find an agent who represents you and not the seller. This is beneficial during the negotiation process. If you are working with a buyer's agent, he or she is required not to tell the seller of your top choice. In addition, he or she is also focused on getting you the lowest asking price.

Also, when you use a buyer's agent, you will see more properties. Not only are they plugged into their Multiple Listing Service, but also they are actively finding homes that are listed as For Sale By Owner, (FSBO), or other homes that sellers are thinking about listing.

THROUGH THIS WEB SITE, you can choose from thousands of homes that are for sale today in any city or community in Texas!

We make this easy by providing you with the above links to thousands of area homes.

When you get really serious about looking for a home, we can send you more detailed and more personalized listings by e-mail. Simply choose Request MLS Search for an email with listings that are more detailed, complete with maps, and that are only the type of homes that you want to look at. We'll send you an up-to-the-minute computerized list of homes for sale in any area or price range.

Most people use the list to drive by the most interesting homes on the list. Then, they call us at 254-742-1466 or 800-488-7388 to get more information or to have us set an appointment to see the inside of the homes THEY chose to see.

All listings from the area Multiple List Service (MLS) are available. Just remember to call or email me with the MLS number of homes that seem interesting. I will check them out for you and give you the addresses, current status, and price.

SELLERS!
FIVE CRITICAL ERRORS THAT HOME SELLERS MUST AVOID!

THE REAL ESTATE MARKET may be slowing, but that doesn't mean you can't sell your home. It just means you need to be better informed and know how to avoid the common mistakes that home sellers often make. Here are five to avoid.


1. OVERPRICEING YOUR HOME.
The single biggest mistake folks make is setting their asking price too high. In a softening market homeowners need to price conservatively or they risk turning off potential buyers, says Michael Corbett, author of "Ready, Set, Sold."

How should you set the price? Gone are the days when you can expect to sell your home for more than your neighbor did last year. Single family home prices have fallen for three consecutive quarters and are now down 6.5% from their peak in 2006, according to the National Association of Realtors. So rather than looking at how much homes in your area sold for six to 12 months ago, compare prices for similar properties currently on the market. If you see a listing for a house that's just sitting unsold for a few months, chances are the owners are asking too much and you'll want to set your price a bit lower, says Corbett.

2. TOO INFLEXABLE AT THE FIRST OFFER.
Too many sellers say no to their first offer, even if it's close to or at full asking price. Holding out for more money is a strategy that rarely works, especially at a time when interest rates on mortgages are in flux and a potential buyer's purchasing power could decrease.

The reality is that in any market a home's first offer is often its best, says Elaine Clayman, a real estate broker with Brown Harris Stevens. She says that's because educated buyers will pounce on a property they like -- with a competitive bid -- as soon as it comes onto the market. And don't forget that the longer a home sits unsold, the greater chance a seller will have to reduce his price to sell.

3. YOU MUST COUNTER-OFFER ALL LOW OFFERS!
What if you get an offer that's simply way too low? Many homeowners will reject it outright. But it's a HUGE mistake not to respond to all offers. Here's why. First, you can't blame someone for testing the market - after all in today's market many buyers are confident that they have the upper hand. Second, just entering into negotiations with one party gives you leverage with other potential buyers, says Corbett. Most importantly, it allows you to tell brokers that your property is in play and sends a message that if someone is interested he had better act quickly and present a very competitive bid. "Chances are the second offer will be close to your asking," he says.

4. USING AN EXPENSIVE HOME STAGER.
Unless you're trying to sell a multimillion-dollar home, you don't need to pay a professional to stage your home. There are a number of free or cheap things you can do on your own to get your house into show condition. Most importantly, paint the walls. Nothing does more to brighten up a place, says Peter Comitini, a real estate broker with Corcoran Group. Next, he recommends getting rid of all the clutter, excess furniture and family knickknacks. I suggest that you "de-personalize" your home. That gives a buyer the ability to imagine your hone as theirs. Finally, make all the necessary repairs before your first open house. If a buyer sees a small problem, say, a leaky faucet, he's likely to wonder about larger issues like the furnace or roof. Before you know it, they will have made an offer on another house that is in better condition.

5. ACCEPTING AN OFFER FROM A UNQUALIFIED BUYER.
Now more than ever, sellers need to select their buyers carefully. Thanks to all the defaults in the subprime market, lenders are tightening their lending practices, making it more difficult for consumers to qualify for mortgages. So it's critical to find a buyer who's prequalified for a loan.

Next, watch out for buyers who need to add contingencies to the contract, including a clause stating that the deal won't close until they sell their own home. A better bet is to look for cash-flush first-time home buyers or someone who has already unloaded his existing house. In a slowing market it's difficult to estimate how long it could take your buyer to find someone to purchase his dwelling, warns Brown Harris Stevens' Clayman. And if that property doesn't go for as much as he expected, that person may no longer be able to afford your agreed-upon price.

Here is what we do at International Realty Plus Realtors to sell our listings quickly, at a fair price, while avoiding the five selling errors (above).

(1). Put the information about your house in the Dallas, Austin, Temple, and Fort Hood Multiple List Services (MLS). That instantly makes your home available to about 25,000 real estate agents and all of their clients. This is by far the most important and effective sales technique! So, when you hire me as your broker, I put all those other real estate people to work on getting your house SOLD!

(2). Advertise your home on a 24-hour minature radio station that I place in your home or in a neighbor's home. I place a Talking House sign by the front curb. Buyers stop and listen to the details about your house. I do the message, but I am introduced by Robin Leach (of the Lifestyles of the Rich and Famous).

(3). Place one of our unique real estate signs on your front lawn. Most real estate signs are not noticed by people who drive by homes for sale. But our signs are bright yellow and are made with a light reflecting material. At hours of darkness, our signs can be seen two blocks away!

(4). Sometimes I place a third sign on your front lawn. This one is hand-lettered and details the available financing on the house. People just have to stop and read it!

You'll notice that we put your home information in 4 MLSs, put it on the radio 24/7/365, and put 3 signs on the lawn. No one else does this much up front to get your house sold. Other than that, I guess we are just regular real estate agents.

To see what your home is really worth, simply choose FREE Market Analysis and fill out the requested information. We will use comparable sold listings to help you calculate the fair market value of your home. Also, be sure to request our FREE Special Reports to view other valuable information!


History
We have been serving Texas since 1989. The company was founded by Robin Hauck who retired from 22 years of active duty in the U.S. Army.

Buyer's Agents save you money!
We have licensed agents that are available to serve as your Personal Buyer's Agent. There is no charge to you for Buyer's agency representation. What's the difference? Well, our Buyer's agents are free to negotiate the very lowest price and the most seller concessions. That can save you thousands of dollars on your home purchase. A Buyer's agent represents the best interests of the Buyer.

If you go directly to the listing agent to buy your home, you can expect to pay full price with few (if any) seller concessions. That's because the seller's agents legally and ethically represent the seller's best interests. They are obligated to get the best deal for their client, wihch is always the seller.

Office and Staff
Our office and all of our agent's home offices are fully equipped with an integrated networks of computer and communication systems. We have instant access to all the Multiple Listing Services, the Public Record Searches, and other tools and services that our agents need in order to better serve you.