Phoenix Real Estate Rebate

Through the first quarter of 2008, Phoenix home sales are down approximately 50% in volume and 14% in value compared to the quarter 1 of 2007. While the median home value has dipped in the range of the prices not seen since2005 and 2006, home sales volume has diminshed at a much greater rate. Phoenix home sales volume has not been this low since 2003. Based on the data is a clear that Phoenix is currently in a declining market, also know as a “Buyer’s Market”.

Phoenix consumers looking to purchase a home are certainly in the driver’s seat. The difficult market conditions have made sellers much more flexible and willing to work buyers. Many buyers have decided to wait until the market bottoms out, but the only way to know when the market has hit rock bottom is when it starts to come back up. That being said, if you are in a position to purchase real estate, this is the time to buy. The Market may continue to slide but if you buy a home you can afford with the intent to live in it for 3-5 years, you will be able to weather the storm of an unpredictable market.

SharpBuyers.comRealtors will provide you with the tools to better understand the market and identify what type of property best suits your needs. In addition to their real estate knowledge and expertise, SharpBuyers.com Realtors will provide you with with a real estate rebate of up to 50% of their commission at closing. The rebate can be used for closing costs or any way a home buyer desires.

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As the condition of the economy becomes more and more uncertain, it is critical that home Phoenix buyers look to save as much money as they can in every aspect of their spending. One of the most significant investments consumers will ever make is the purchase of a home. With this is mind, home buyers must become educated about the home buying process. The internet has an abundance of information for home buyers and it is a good place to get started. With the surplus of information readily available to consumers, many buyers are able to successfully purchase a home on their own and that is great. But what most homebuyers don’t realize is that they can have a Realtor represent them as their personal buyer’s agent for free.
Phoenix Realtors are paid a percentage of the commission at closing form the total proceeds of the sale. Realtors can provide valuable insight, information and assistance when it comes to such a significant investment. In addition to providing real estate expertise, some Realtors will also provide a commission rebate that home buyers can use to pay their closing costs. The rebate can actually be used any way a home buyer desires but the majority of home buyers use it towards their closing costs. Closing costs can be very expensive and in most cases are paid by the buyer and/or seller, but in recent years more and more Realtors are helping home buyers by contributing to these fees.

Realtors typically reserve rebates for friends and family members. Most Realtors don’t advertise commission rebates and many will act as if they don’t know what you are talking about if you bring it up. Up until 2006, consumers had to have an “In” to find the Realtors that would provide a rebate but with the emergence of SharpBuyers.com Phoenix home buyers can now easily find rebate Realtors. When home buyers sign up at SharpBuyers.com, they receive a home buyer’s guide, links to important resources & information, and they are connected to a local Realtor that will provide up to a 50 percent commission rebate. Real estate rebates are legal in 39 out of the 50 states and are supported by The Department of Justice.  Click Here to read the DOJ’s stance on real estate rebates.

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SharpBuyers.com Enters Phoenix Real Estate Market

SharpBuyers.com Is Now Helping Phoenix Home Buyers Pay Their Closing Costs By Connecting Them To Local Realtors Who Provide Full Service And A Real Estate Rebate At Closing.

Phoenix, AZ May 22, 2008 — SharpBuyers.com, the national Real Estate Referral service, today announced their entry into Phoenix. The Boston based company provides home buyers with free information and resources about buying a home, and connects them to local Realtors that provide a real estate rebate at closing. On May 21, 2008 SharpBuyers.com successfully connected their first home buyer to a Phoenix Realtor. “We are very excited to offer Phoenix home buyers a 50% commission rebate.” says Co-Founder Robert Nichols. “As a result of the internet and technology, home buyers are becoming more educated about the home buying process and it is only fair that they reap the benefits of their diligence.” The United States Department Of Justice also supports rebates and states on their website “rebates significantly benefit consumers in savings on buying or selling a home.”

The SharpBuyers.com system provides all home buyers with a real estate rebate. The Rebate ranges from 20%-50% of the buyer agent’s commission and is based on the number of accompanied showings provided by the Realtor. SharpBuyers.com has successfully added over 30 Arizona Realtors to its network since March 2008 and Co-Founder Leonard Nomura says he “anticipates significant growth in the near future.”

SharpBuyers.com provides information and resources to consumers for free. Revenue is generated through referral agreements with brokers throughout the country. The Realtors in the SharpBuyers.com network include brokers and agents from RE/MAX, Prudential, Coldwell Banker, EXIT Realty, Long & Foster, GMAC Real Estate and several other brokerage firms.

For more information about Sharp Buyers, please visit SharpBuyers.com or contact Robert Nichols

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Provided Courtesy of SharpBuyers.com

For most people, purchasing real estate will be the biggest investment they will ever make. It is a decision that will have lifelong implications. These effects can be either positive or negative. This is why it is important to understand the key factors to consider before purchasing real estate. We have provided this 10-step guide to give you some insight about the home buying process.

Step#1 - Figure Out How Much You Can Afford
To find out how much you can afford, it is best to speak with a Mortgage Professional. I would advise that you go your primary bank first. Your primary bank is an institution you can trust and they should be able to answer all of your questions about financing. You can also talk to a Mortgage Broker. To find a good mortgage broker you should consult with you friends and/or family who currently own a home. After talking to a Mortgage Professional you will know weather or not you need a down payment, how much of a down payment you will need, your potential interest rate and all of the necessary criteria required to qualify for a loan. Once you choose your lender and provide them with the necessary documentation, you will be given a Pre-Approval Letter that states how much you can afford, your interest rate and the terms of the loan. Key Points: 1. Not all Lenders are created equal so it is a good idea to shop around. 2. Make sure you are given a Pre-Approval letter not a Pre-Qualification letter. 3. Beware of the bait and switch technique. This is when lenders get your attention by advertising an attractive interest rate only to increase it after you are locked in.

Step#2 - Choosing the Right Property For You
The decision of what type of real estate you purchase will consists primarily of , how much you can afford and your reasons for buying. After consulting with a lender, you will know what you can afford in terms of a Condo, Single Family Home, or a Multi-Family property. The questions you should ask yourself is “What are my goals for my real estate purchase?” This will help you better define what type of property suits your needs. The financial commitment is significant, and not every property fits the needs of its potential suitor, so it is important that you consider the goals for your real estate purchase, both short term and long term. For example if it is going to be your primary residence, you want to make sure it can comfortably accommodate your current and future family i.e. children or in-laws. If the market takes an unfavorable turn and it become difficult to sell then you can still live comfortably in your home until the market recovers. Key Points: Always consider the short term and Long term goals of your real estate purchase. It all stars with your reasons for purchasing real estate.

Step#3 - Finding a Home
Now that you understand the lending process and have narrowed down the type of property you are looking for, its time to start looking. So where do you start? I would recommend finding a local real estate professional. For help finding a realtor, log on to SharpBuyers.com. The best part about this is that it is free. You will have professional representation at no cost to you, and it will surely make the process a lot smoother. Buyers Agents are paid at closing by the seller. The total commission is split between the buyer’s agent and the listing agent. If you choose a buyers agent through SharpBuyers.com, you can receive up to 50% of their commission at closing. It is truly the best of both worlds. Professional representation and money in your pocket. Key Points: It is best to hire a Buyer’s Agent. It is free and it will save you time and money in the process. SharpBuyers.com will refer you to a local real estate agent that will provide professional assistance and a real estate rebate at closing!

Step#4 - Attorney or No Attorney?
As a real estate professional I would strongly advise all buyers to seek the advice of an attorney before entering into any negotiations. Real estate brokers and agents are professionals at finding an ideal home and negotiating the terms, but attorneys are experts at reviewing and explaining contracts. As a result, it is best to have an attorney review all contracts before entering into any agreements with the seller. The best way to find a good attorney is to ask your real estate agent. Real estate agents regularly work with a number of attorneys in many different capacities and know which attorneys will be best based on your specific needs. It is in the agent’s best interest to recommend an attorney that they know is competent, trust worthy and focused on protecting their clients interest.

Step#5 - Your Offer, Negotiation 101
Before placing an offer on a home you should know how much it is worth to ensure the listing price is in line with the actual value. Ask your agent to provide you with a CMA (Comparative Market Analysis). A CMA compares homes based on size, location, condition and several other factors to estimate the value real estate in a given area. As a result you will see what similar homes have recently sold for. This will give you a better understanding of the market and help you to better gauge your offer. It is also important to understand that everything is negotiable. For example if you see any furniture, appliances, a chandelier or anything that you like, include it in the offer. This strategy can sometimes give buyers more leverage when negotiating. Even if the seller does not want to sell their personal property, it gives you the buyer an additional negotiating point. It also is important to include contingencies in the offer as well. The most common types of contingencies are a mortgage contingency and an inspection contingency.

Step#6 - Home Inspection
A home inspection is an essential part of the home buying process. Every buyer has a right to have a home inspection and I highly advise buyers to take advantage of that right, even if it is new construction. It is best to ask your agent to provide you with a recommendation for an inspector. They work with multiple inspectors and will likely refer you to an inspector that is right for your needs. Purchasing real estate is the most significant investment many people will make during the course of their lives. A home inspection will validate that you are investing in a good home or uncover significant defects that you would otherwise not have known about until moving into the home. It is far more valuable to know what you are buying before you buy, then to invest hundreds of thousands of dollars into a property that is not worth it. So what happens when defects are discovered by the inspector? In most instances the buyer and seller come to a mutual agreement on how to deal with the issues. Sometimes the seller may agree to take care of the issues. In other instances the buyer may assume the responsibility for a discount in the price. It really just depends on the specifics of the defects. As a buyer, it is best to know as much about your home before you purchase it as possible.

Step#7 - Mortgage Application
Once of all the terms are finalized following the home inspection, it is now time to complete your mortgage application. The first step would be to inform your lender or bank that you have signed a P&S (Purchase and Sale Agreement). They will ask for a signed copy of the P&S along with other financial documents needed to complete your loan application. It is important to get this application in as soon as possible so the bank has as ample time to process your application. In accordance with the P&S, the bank must provide the buyer with a commitment letter or a declination letter by a specific date. The commitment letter states that the bank is going to give you the loan. The declination letter states that you have been declined for the loan and cannot purchase the property. If the lender does not supply this, they buyer runs the risk of forfeiting their deposit if they are not approved or declined for the loan within the given time. If you need more clarification on this, ask your real estate agent. Key Points: Make sure the your lender supplies you with a commitment or declination letter before the commitment date. If not you could end up losing thousands of dollars.

Step#8 Insurance Binder
After the bank provides a commitment letter, the only additional requirement is the insurance binder. Before the bank can complete the loan the buyer must purchase home owners insurance. It is best to get three quotes when shopping around for home owners insurance. The first quote should come from the provider of your car insurance. In many instances the insurance company will give you a discount for insuring your home and automobile with the same provider. You should also gets recommendation from friends & family and your Realtor. These are all sources that you can trust and it will insure you get the best. The insurance binder is then sent to the lender prior to closing. Now the funds are all set to be released on the specified closing date.

Step#9 - Reviewing The Settlement Statement
1-2 Days before you close, the closing attorney, who represents the bank lending you the funds, will provide you and the seller with a settlement statement (also called a HUD) for your review. It is important that you, your attorney and your Realtor review the charges, fees and adjustments to ensure everything is correct. The HUD will have all of the information such as the closing costs, tax adjustments, utility adjustments your real estate rebate and several other fees. It will also state the amount you need to bring to closing. Any funds brought to the closing should be done in the form of a certified or bank check. Note: The seller will have to make sure the home meets the local fire code and provide final utility bills prior closing.

Step#10 - Closing
So what do you need to bring to the closing? you will need at least 2 forms of identification, a certified or bank check for any additional funds and a good pen for all of the documents that you will be signing. The closing is typically attended by the buyer(s), seller(s), closing attorney, your attorney and the Realtors involved in the transaction. Your attorney will explain all of the documents to you prior to signing any of the disclosures at the closing. Once you are finished signing, you will receive your keys. Now its time to figure out how your going to spend your real estate rebate provided by SharpBuyers.com! Congratulations!

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SharpBuyers.com Helps Phoenix Home Buyers Pay Their Closing Costs Through Real Estate Rebates

The Beginning Of The Real Estate Rebate:

Society as a whole has been significantly impacted by the emergence of the Internet. It has made the world a smaller place and has intern changed the way we communicate and conduct business. It has helped companies target their clients through avenues such as Google &Yahoo, and has subsequently put the products and information that consumers looking for, at their finger tips. Social Networks such as Myspace and Facebook have made it possible to stay in contact with friends and family around the world via the Internet. As time passes these changes and effects will become more wide spread and alarmingly self evident. One such industry that stands to be dramatically affected is Real Estate.

For decades, the real estate industry has been defined by traditional representation in which an agent charges the seller a commission to market and sell their home or represents buyers through the entire home buying process. In the past, the traditional model was the staple of the real estate profession and it faced little to no opposition. This has begun to change. With the dependency that society and has developed on Internet, creative minds have begun to develop new models that cater to every type of consumer. As a result, consumers no longer have to settle for the “One Size Fits All” traditional model, but have a choice in choosing the type of service that fits their real estate needs.

New Models

Consumers may now choose between a variety of real estate products and services. These services are characterized by enabling buyers or sellers to seek specific real estate assistance as opposed to the whole package. In the case of sellers, real estate agents will charge a fee only for the services they provide. For example, a seller may only want to list their home on MLS (Multiple Listing Service Used By Real Estate Professionals around the Country) for the added exposure, and require some assistance drafting a purchase and sale agreement. Listing a home and receiving assistance with a P&S will cost you hundreds of dollars as opposed to paying a 5%-6% commission that would cost thousands of dollars.  On the other hand, buyers who are interested finding a home on their own or willing to participate in the initial house hunting work, can receive a rebate at closing.  This model gives buyers the professional assistance of a realtor and rewards them for their efforts with a portion of the commission at closing. One company that gives a rebate is SharpBuyers.com. They are a national real estate rebate company based out of Boston Massachusetts. They have agents all throughout the country that will help buyers find a home and give them a rebate at closing. Another emerging model is real estate consultants. These are licensed real estate professionals that exclusively charge flat fee’s for specific services. 

The brokerages that offer these innovative real estate services are referred to as Discount Brokers, Rebate Agents, and Real Estate Consultants. It can clearly be seen, that all of these new models engage the buyers and sellers in the home buying or selling process. Subsequently, this model is ideal for the home buyers of tomorrow, generation X and Y. These are tech-savvy home buyers and they are not afraid to delve into the process if it means they will save thousands of dollars. Ten years from now, generation X will collectively be in their early and mid 30’s. Many will use the traditional method to buy their first home, while others will seek out innovative brokers. How will the market share shake out in 2017? Only time will tell. It is anticipated that many traditional brokerages will be forced to adapt to a mixed service model, meaning they will offer both traditional and discount services to buyers, rather than one or the other. This may prove to be a necessary strategy if traditional brokerages would like to remain competitive after 2020. The new real estate business models enable consumers to have the best of both worlds, professional assistance and more money in their pockets.

Real Estate and The Internet Today

In today’s world, the effect that the Internet has had on real estate is extremely apparent. As the popularity of the Internet initially grew, many agents were concerned that consumers would cut them right out of the deal. To date, this has not been the case. The real estate industry has come to embrace the Internet and all of the great marketing tools that it has given birth to. It has also helped real estate professionals have better access to listing information, recent sales history and various statistical data reports. Leonard Nomura of Bentley Real Estate Group says he could not imagine life as a broker without the Internet. The numbers are astounding. According to the National Association of Realtors, 77% of home buyers used the Internet to find their homes in 2005. This has steadily grown from 2% of buyers using the Internet to find their homes in 1995 and is now over 85%. According to clickz.com, 50% of all consumers who surf the web, do so with the intent to purchase consumer goods and services. This includes Real Estate, automobiles, clothing, music and anything else imaginable.

As a result of the emerging mixed service models, consumers can now choose from a range of real estate services that did not previously exist. It is believed that many real estate professionals see these new models as a threat because of their ability to significantly impact the traditional real estate brokerage’s market share. According to Real Trends an industry newsletter, alternative Real Estate Models currently make up 2% of the market, but could grow to 12% by 2010. The transformation of the real estate industry has only just begun. Time will tell the true story of how the market will shake out but the bottom line is, alternative real estate models are putting money back into consumers pockets and you will always put a smile on someones face when you show them how to save thousands of dollars.

About Us

SharpBuyers.com is a national real estate rebate company based out of Boston Massachusetts. It was founded by Robert Nichols and Leonard Nomura. SharpBuyers.com is a division of Bentley Real Estate Group. We currently offer buyers rebates in every state where rebates are allowed, including Arizona, California, Illinois, Florida, Georgia, Massachusetts, Washington, Virginia, and Maryland. We have provided Rebates to Home Buyers in Boston, Chicago, Miami, Los Angeles, San Francisco, Lafayette California, Quincy Massachusetts, and Las Vegas, and Phoenix, Arizona. SharpBuyers.com was formed to provide comprehensive real estate services, enabling customers to attain the maximum value from their real estate transactions, and to give clients a broader range of real estate services. SharpBuyers.com feels that the Internet will change the way real estate will be sold and purchased. As a result SharpBuyers.com aims to be one of the first companies to bring awareness to this change by assisting real estate brokerage firms in expanding their business by offering rebates.

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