redfin anne arundel home buying class
Post on 19-Oct-2014
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Home Buying Class
Presented byMarcie Gatton & Kim Dixson
Meet Marcie & Kim
Kim DixsonRedfin Agent● 85 Redfin buyers &
sellers● $395K median home
price● 4.5 star rating (85
reviews)
Marcie GattonRedfin Agent● 179 Redfin buyers &
sellers● $295K median home
price● 4.5 star rating (114
reviews)
Meet Redfin’s Anne Arundel - PG Team
About RedfinA better way to buy & sell
On Your SideRedfin Agents are paid based on your satisfaction, not commission, so your interests always come first.
Smarter & FasterMove quickly and confidently with our easy online tools and the most complete and accurate home sales data available.
You Get MoreGet full service and better results while saving thousands in fees.
100% Team SupportYou’ll work with a team of real estate pros, so there’s always someone ready to help.
Agenda
1. Local Real Estate Trends2. Home-Buying Process3. Recap4. Conclusion
#1.Local Real Estate Trends
Annapolis Real Estate Overview
Median List Price $550K
Median List $/Sq. Ft. $281
Median Sale Price $440K
Median Sale $/Sq. Ft. $240
Median Sale/List 97.1%
Average Number of Offers 2.2
Average Down Payment 12.3%
Number of Homes Sold 284
Calculated using the last 90 days
Trending: Bidding Wars
New Construction
Foreclosures & Short Sales
#2. Home Buying Process
Before You Buy
● Rent vs. own● Length of
ownership● Life changes
(family, job)● Personal finances
Overview of the Home Buying Process
1. Research
2. Search for Homes
3. Finance Your Home
4. Make Your Offer
5. Closing Process
1. Research
• Home wish list• Location & neighborhoods• Mortgage loans & pre-approval• Real estate agents & reviews
2. Search for Homes
• Create a wish list for home features• Check out open houses• See homes in person on home tours• Save searches on Redfin and get notifications
on the Redfin app & email
See Homes in Person
2211
3. Finance Your Home
• Review your finances• Check your credit score• Find the right loan• Get pre-approved
Latest Mortgage RatesType of Loan August 14, 2014 August 7, 2014
30-Year Fixed 4.12% 4.14%
15-Year Fixed 3.24% 3.27%
5/1 ARM 2.97% 2.98%
1-Year ARM 2.36% 2.35%
4. Make Your Offer
• Pricing & comparables• Common contingencies• Negotiations• Mutual acceptance
5. Closing Process
• Inspection • Appraisal• Financing & approval• Title• Closing!
The Closing ProcessSuccess! The seller has agreed with your price and terms. You’ve achieved mutual acceptance.
Deposit your earnest money to prove you’re serious about the offer.
The seller will disclose any known problems with the property.
The home’s owner history and title for liens, encroachments, and easements is reviewed.
Schedule a professional home inspection. Your agent will have recom-mendations.
Select your lender and submit your loan within three days of mutual acceptance.
Take your final walkthrough to look for any issues since the inspection.
Sign all of the paperwork at your signing appointment.
Get your keys, take possession, and start moving!
Receive your Redfin commission refund.
Complete the Redfin survey for your agent.
Home Inspection
Congratulations,You bought a home!
#3. Recap
Home Buying Timeline
#4. Conclusion
So, What Now?
Make sure it’s the right time to buy for you.
Find an agent & get pre-approved for a loan.
Search for homes on Redfin.com & mobile app.
See homes in person & make an offer.
Buy a home!
Get More From Redfin• Explore our online tools,
including a home affordability calculator to find out how much you can afford, and the home value tool to see how much a home is worth.
• Take Redfin with you: Download the Redfin app for iPhone, iPad, and Android.
• Claim your home on Redfin and receive monthly home reports.
• Sell your home: Work with a Redfin Agent to sell your home and get free professional photography and online marketing to all the right buyers — for a 1.5% listing fee.
• Check out more classes, including market trends, mortgages, home selling classes, and more at Redfin.com/Events.
Thanks for Coming!