Hbc denver 4.11

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  • 1. Redfins Home Buying Class April 11, 2012 Westminster, COSlide 1 of 55
  • 2. Agenda Considering To buy or not to buy Market conditions Searching for a home Looking Finding a real estate agent Working with Redfin Break! Buying Mortgages The offer and the deal Short sales and bank ownedSlide 2 of 55
  • 3. A Little Bit About Who We Are Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. Customers, not commissions Informed decisions The right home for the right price No obligation Get back up to 50% of our commissionSlide 3 of 55
  • 4. To Buy or Not to BuySlide 4 of 55
  • 5. A Little Bit About Who We Are Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. Customers, not commissions Informed decisions The right home for the right price No obligation Get back up to 50% of our commissionSlide 5 of 55
  • 6. Why You Should Buy a Home You have a family and need room to grow You expect to stay put for 5 or more years You want a home that is difficult to rent Youre handy & and ready to invest Youve saved up a down paymentSlide 6 of 55
  • 7. Why You Shouldnt Buy a Home You dont have a good reason like family or schools You cant afford the down payment You can rent for much less You plan on moving soon Youre worried about job securitySlide 7 of 55
  • 8. Market ConditionsSlide 8 of 55
  • 9. Case-Shiller: Portland Area v. 20-City 250.00 20-City Composite Denver Area 200.00 150.00 100.00 50.00 0.00Slide 9 of 55
  • 10. Case-Shiller By the Numbers Denver Area Up 0.2% year-over-year Peak was August 2006 Down 12.4% from peak Currently at April 2002 prices 20-City Composite Down 3.9% year-over-year Peak was July 2006 Down 34.4% from peak Currently at January 2003 pricesSlide 10 of 55
  • 11. Westminster Feb Stats for HousesSlide 11 of 55
  • 12. Westminster Feb Stats for HousesSlide 12 of 55
  • 13. Where is the Market Headed? To be updated Supply of homes is at a five-year low and wont increase the rest of the year Foreclosures have been driving price declines, likely years of inventory remain by agent with Rents have been rising, making buying more attractive) Market stabilizing, though likely 2-3 years before significant appreciation local market Rate increases - biggest issue for buyers trendsSlide 13 of 55
  • 14. National Market Trends December: New construction inventory low, sales rising and confidence rising too. Pending home sales hit a 19-month high. Actual closed home sales increased 4%. The number of homes on the market declined 18% over the past year. Foreclosure sales fell to a four-year low. Prices will remain stable in 2012.Slide 14 of 55
  • 15. Searching for a HomeSlide 15 of 55
  • 16. Overview Search homes online & tour Get pre-approved Find a dream home Finding Consult with agent, write offer Your Home Submit offer to listing agent Negotiations Success! Earnest money Inspection contingency Mutual Title review Acceptance Financing contingency Waiting for loan approval Escrow signing appointment Get keys and take possession! Closing Receive Redfin refund Complete Redfin SurveySlide 16 of 55
  • 17. Benefits of a MLS Powered Site All the homes for sale: 30% more listings You see what the agent sees: 4x the data Real-time market data: photos, details of just-sold homesSlide 17 of 55
  • 18. Live Demo of Redfins SiteSlide 18 of 55
  • 19. Finding an AgentSlide 19 of 55
  • 20. What to Ask Any Agent Is this your full-time job? Familiar with foreclosures or short-sales? Where were your last five deals? Who else will be working with me? Will you show me all properties for sale? When am I committed to working with you? Has a client ever filed a complaint? How are you paid?Slide 20 of 55
  • 21. Traditional vs. RedfinSlide 21 of 55
  • 22. Make Sure Hes a Good Fit Click here when you decide See all deals & reviewsSlide 22 of 55
  • 23. Working with RedfinSlide 23 of 55
  • 24. How Our Team Works AGENT Responsible for your success Writes your offer Handles negotiations YOU FIELD AGENT COORDINATOR Takes you to see homes Schedules tours See 50+ homes a week Prepares paperwork Works with escrowSlide 24 of 55
  • 25. Redfins Partner Program Partner agents are employed by other brokerages, but have teamed up with us to provide Redfin-Certified service to a wider range of customers Well refer you to a partner agent when: A home is outside of our direct service area A home is below our price minimum Were experiencing an unusually high customer demand We survey all partner agent clients All surveys are published on their Redfin page 97% of customers would recommend Redfin partnersSlide 25 of 55
  • 26. We Share Our Commission With You We refund 15% - 50% of our commission to you (minimum home price of $120,000) subject to the