JON RADEMACHER’S

Real Estate news for

those on the move

www.JonRademacher.com

Jon Rademacher CRS, GRI, SFR

M

402-416-8582

ARKETWATCH April 2014

Happy Home Anniversary! Allison & Scott Andersen (8)

Don Ankenman (7)

Rex & Julie Murphy (6)

Crystal Sams (8)

Ben & Darla Johnson (5)

Dana Lippold (5)

Megan & Kellan Strauch (5)

Jinsheng You (6)

Jessica Stake (3)

Rich & Jenni Brazda (3)

You’ve been searching for homes with your agent but can’t find the one that’s ‘just right.’ You know the inventory is tight and that the right one will come along soon, but you’re getting impatient! Then you stumble across a house that looks perfect. But it’s For Sale By Owner. Now what? Your agent can still help you – and he should! Just because the owner is selling privately doesn’t mean you can’t look at the house or even own it. Tell your agent about the house and share the address and phone number with him. Your agent will call the owner to see if he’s willing to work with buyers who are represented by a Realtor. If the owner is willing to pay your agent a professional fee, he and the agent will meet prior to your seeing the house to agree on compensation. That’s usually a percentage of the sale price, but it can also be a set amount. With that agreement in place, your agent will show you the house, and if you decide it’s ‘the one,’ he’ll help you prepare an offer for the seller. Your agent will continue to work on your behalf and help you navigate the transaction to a successful closing. If the owner is not willing to pay your agent a professional fee, you’ve still got a couple of options. You could choose to pay your agent the professional fee yourself – there’s no rule that says it has to be paid by the seller. You could also choose to negotiate directly with the seller and try to put the deal together on your own. By doing that you’re essentially firing your agent (even if you really like him!) and you’ll need to handle inspection deadlines, repair negotiations and follow-up, and any lender requirements without his guidance. If you haven’t bought a home before, or don’t feel comfortable ‘flying solo,’ you’ll want to give that decision some serious thought before proceeding! (Consider, too, what you’ll do in case your direct negotiations with the seller are not successful. Will you be able to go back to your agent after dumping him? Ultimately that depends on the kind of relationship you have with your Realtor, but it’s something to keep in mind!) In today’s market of very limited inventory, it’s only natural that we’d see more sellers trying to sell By Owner. As the buyer, know that you’ve got options and that it’s OK to look at FSBO properties. Talk to your agent and have a game plan in place, so when you find the right house, you can move forward confidently!

The Realtor’s Role

When You Buy FSBO

I have worked with Jon several times the last eight years,

buying and selling. I had to tell him during this last

transaction, "thanks for reminding me again the value

of using a good real estate agent." This was the sale

of an apartment complex and it had several issues and

bumps along the way. Not only did Jon stay calm and

professional, he ultimately saved me thousands of dollars

by suggesting a certain contractor to do some foundation

work and encouraging me not to "settle" but to

"negotiate" on some other issues. I ended up with two

offers and sold it for more than asking price. Jon, thanks

for all your hard work, professionalism and, most of all,

your friendship. I'm sure we’ll be doing business

again sometime in the future.

Gregg Aten

Lincoln

Brice & Kayla Jones (2)

Angela Coniglio &

Mike Burchett (1)

Frank Peterkin (1)

You must show no mercy, nor have

any belief in how others judge you, for

your greatness will silence them all.

(Ultimate Warrior, 1959-2014)

It’s YOUR Move

31 Ways to Make Your Backyard Awesome this Summer!

Simple Home Ideas You’ll Love!

18 Cheap Ways to Improve Curb Appeal

Lots of Great Information for Buyers and Sellers!

Buyers’ Marketplace

These buyers are actively searching for their next home. If

you’re considering a move, and would be interested in having

one of these buyers see your home, call Jon & he’ll do the rest!

Lincoln

Open to most areas, 3 bedrooms, 2 baths, finished basement,

2-stall garage, large kitchen, no splits ($165,000)

SE/SW Lincoln, 1.5 or 2-story, 3+1 bedrooms, 2.5 baths, 2-stall

garage, large kitchen, walk-in closets, finished bsmt ($225K)

Prefer NW Lincoln but open to other areas, 3 bedrooms, 2 baths,

2-stall garage, ranch style, fenced yard ($150,000)

Prefer NE Lincoln, but will consider SE closer to O St; 3 br,

1.5 baths, garage, finished basement, longer driveway ($140,000)

Investors/Fixer-uppers

Multiple investors seeking single-family houses or duplexes to

flip or hold, all price ranges, all levels of fix-up.

10-150 units, any price range, all levels of fix-up, motivated sellers

Multi-family property (4-20 units) in very good condition, positive

cash flow

If you think this issue is worth reading, pass

it on! Someone you know - a friend, family

member, or co-worker - is considering a move

right now, and they’ll appreciate that you

shared this page with them!

Q: Will I get a better deal if I buy a foreclosure property? A: Sometimes. Can you find foreclosure deals in Lincoln? Absolutely. Will you be able to buy them for 50% off the market price? Not likely. Many homes that have been repossessed by the bank are in rough shape, so be prepared to do some work. While this may represent an opportunity for some buyers, not everyone has the skills to “fix up” some of these properties. Buying a foreclosed property also has some special considera-tions that might not be part of a traditional transaction. The type of title policy, title insurance, and the type of deed you’ll receive are extremely important. Be prepared to close by the date you’ve specified in the contract, or you may face penalties for each day you’re late. Make sure your financing is solid, and that your lender knows the true condition of the house before you make your offer. And be sure to read the lengthy addendums provided by the seller – it’s very important that you know what you’re signing! If you’re considering the purchase of a foreclosed home, make sure your agent has experience in selling them! His guidance and advice will be invaluable!

LOCAL MARKET ACTIVITY - MARCH

2012 2013 2014 New home sales closed (mo): 32 51 49 Avg. sale price of new homes closed (mo): $215,568 $243,762 $235,074 Existing home sales closed (mo): 264 274 281 Avg. sale price of existing homes closed (mo): $134,233 $150,686 $138,447

Total single-family residential sales closed (mo): 296 325 330 Avg. sale price of single-family residential sales closed (mo): $143,026 $165,292 $152,795

Note: This representation is based in whole or in part on data supplied by the REALTORS® Association

of Lincoln or Midlands MLS Inc. Neither the REALTORS® Association of Lincoln nor Midlands

MLS Inc. guarantees or is in any responsible for its accuracy. Data maintained by the REALTORS®

Association of Lincoln or Midlands MLS Inc. may not reflect all real estate activity in the market.

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