Home Buying Class - Silver Spring - June 6, 2012

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  • 1. Redfins Home Buying Class June 6, 2012 Silver Spring, MD Follow: @RedfinDC Like: http://www.facebook.com/RedfinDCSlide 1 of 50
  • 2. Agenda To buy or not to buy Choosing an agent Redfin as a tool Touring Market conditions Break! Mortgages Short sales & foreclosures The offer processSlide 2 of 50
  • 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 a portion of our commission Redfin VideoSlide 3 of 50
  • 4. To Buy or Not to BuySlide 4 of 50
  • 5. 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 Youre handy & and ready to invest Youve saved up a down paymentSlide 5 of 50
  • 6. Why You Shouldnt Buy a Home You dont have a good reason You cant afford the down payment You can rent for much less You plan on moving soon Youre worried about job securitySlide 6 of 50
  • 7. Choosing the Right AgentSlide 7 of 50
  • 8. Traditional vs. RedfinSlide 8 of 50
  • 9. 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 9 of 50
  • 10. Make Sure Hes a Good Fit Click here when you decide See all deals & reviewsSlide 10 of 50
  • 11. Redfin Support Network AGENT TOUR Responsible for your success COORDINATOR Writes your offer Schedules tours Handles negotiations Prepares paperwork TRANSACTION FIELD AGENT COORDINATOR Takes you to see homes Prepares paperwork Sees 50+ homes a week Works with escrowSlide 11 of 50
  • 12. 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 12 of 50
  • 13. We List Homes, Too! More people see your home Premium placement on Redfin.com Mobile apps target on-the-go buyers Professional flyers Youll know it all at every step Email all buyers who see your home See how many people have viewed your home Advise you at every step in the processSlide 13 of 50
  • 14. Redfin as a Tool in Your SearchSlide 14 of 50
  • 15. 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 15 of 50
  • 16. Highlights of Redfins Site Search by zip code or neighborhood Saved searches/instant alerts Agent notes Download results Price your home Agent scouting report Forums Home buying guide Home inspection guide Any questions about the site?Slide 16 of 50
  • 17. Open Book Redfin Certified Providers Every professional is reviewed and all reviews are shown Search for local: Inspectors Lenders Title CompaniesSlide 17 of 50
  • 18. Tools after your offer is accepted Important milestone tracker Your to do list Your team of agentsSlide 18 of 50
  • 19. TouringSlide 19 of 50
  • 20. How Touring with Redfin Works Up to six homes per tour in two hour blocks Go on as many tours as you need Led by agent or field agent Need to be verified No obligationSlide 20 of 55
  • 21. Making the Most of Your Tour 1. Bring a camera, notebook & 8. Check for hardwood floors tape measure 9. Peek into the attic 2. See how much sunlight the 10. Bring a marble or two place gets 11. When sharing a wall, make 3. Check the bathrooms for rot & sure its thick mold 12. Ignore the appliances and 4. Look for wavy or discolored carpets wood siding on exterior 13. Check the closets 5. Make sure water spouts drain 14. Get the disclosure packet away from house 15. Compare the propertys tax 6. Take stock of storage space records to the listing details 7. Turn off any music playing in houseSlide 21 of 50
  • 22. Market ConditionsSlide 22 of 50
  • 23. Case-Shiller: DC Area v. 20-City 300.00 250.00 200.00 150.00 100.00 50.00 0.00Slide 23 of 55
  • 24. Case-Shiller By the Numbers Case-Shiller: DC Area Down 2.3% year-over-year Peak was May 2006 Down 30% from peak Currently at April 2004 prices Case-Shiller: 20-City Composite Down 3.5% year-over-year Peak was July 2006 Down 35% from peak Currently at November 2002 pricesSlide 24 of 50
  • 25. Silver Spring April Stats for HousesSlide 25 of 50
  • 26. Silver Spring April Stats for CondosSlide 26 of 50
  • 27.