April 9, 2017

Homes for Heroes Savings

 

Forefront Real Estate saves Local Heroes thousands on Real Estate purchases

 

Forefront Real Estate, LLC is the Exclusive Homes for Heroes® Real Estate Brokerage for the Casper, Mills, Evansville, Bar Nunn, and Glenrock areas!

Homes for Heroes was started following the tragic events of 9/11 and created as our way to say thank you to the men and women that make our country and our communities a better place to live.

To qualify for Homes for Heroes you must be a member of the military (active, veteran, or reserves), law enforcement, firefighter, teacher or healthcare worker. That’s it! There are no other stipulations or qualifications you need to meet for you to be accepted into the program. As a Homes for Heroes Brokerage it will be our honor to give you 25% of our gross commission as a credit at closing when you buy and/or sell your home. This can add up to thousands of dollars in savings for you, our hero.

If you or someone you know would qualify for the Homes for Heroes program, please encourage them to contact us for more details.  We would love to help them! 

This program cost you nothing and there is no cap on the savings you can receive…ever!  Please contact Forefront Real Estate at 307-224-1523. We would love to help bring you the benefits of this program. Learn more at www.forefrontrealtors.com/homes-heroes/

 

 

Regards,

Forefront Real Estate, LLC

info@forefrontrealtors.com

307-234-1523

www.forefrontrealtors.com

340 W Collins Dr

Casper, WY 82601

Forefront Real Estate, LLC Casper, Wyoming

Posted in Buyer Tips, Seller Tips
Feb. 13, 2017

Ten Commandments of Selling a Home

So you have chosen a great realtor (Thanks!) and decided to move ahead with selling your home. That's great and to make sure it is sold quickly and for the most money possible there are a few things you need to know. More specifically, ten things. They’re called “The Ten Commandments of Selling a Home.”

10 Commandments for Selling Your Home

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!  What are you waiting for?  Contact your local real estate specialist at Forefront Real Estate!

(307)224-1523

340 W Collins Drive

Casper, WY 82601

Info@forefrontrealtors.com

Posted in Seller Tips
Jan. 23, 2017

The Ten Commandments Of Buying A Home

Are you jazzed about your upcoming home purchase? Good. But slow down, Turbo! There are a few things you need to know. More specifically, ten things. They’re called “The Ten Commandments of Buying a Home.”

Read them. Absorb them. Emblazon them to memory, because one tiny mis-step can make your dream of homeownership come crashing down like a sandcastle at high tide!

Ten Commandments of buying Real Estate

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!  What are you waiting for?  Contact your local real estate specialist at Forefront Real Estate!

(307)224-1523

340 W Collins Drive

Casper, WY 82601

Info@forefrontrealtors.com

Posted in Buyer Tips
Jan. 3, 2017

Buying a home is "an escalator to wealth"

Buying a home is "an escalator to wealth," according to the author of "The Automatic Millionaire" David Bach.

As reported on CNBC self-made millionaire David Bach thinks that not prioritizing homeownership is "the single biggest mistake millennials are making." Buying a home is "an escalator to wealth," according to David. Young adults in particular aren't hopping on this escalator, and it's a costly mistake, Bach warns: "If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter."

"As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!"

Recognize that "oftentimes, buying your first home means you're not buying your dream home," Bach tells CNBC. "You're just getting into the market."

A lucrative market, that is. "The fact is, you aren't really in the game of building wealth until you own some real estate," Bach writes.

Renting can certainly be the best answer for many situations however home ownership can undeniably be a critical key to building real financial wealth.

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!  What are you waiting for?  Contact your local real estate specialist at Forefront Real Estate!

(307)224-1523

340 W Collins Drive

Casper, WY 82601

Info@forefrontrealtors.com

Posted in Buyer Tips
Dec. 16, 2016

Forefront Real Estate Newsletter 12/2016

 

 

FOREFRONT REAL ESTATE

December 2016

www.forefrontrealtors.com                        Volume 1, Number 1

In This Issue

·    Casper Real Estate News

·    Interest Rate vs. Purchase      Power

·    Buyers Agency

·    Cold Weather Tips

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Happy Holidays & Welcome to the Forefront Newsletter!
The Holidays are a busy time for all of us and winter is upon us here in Casper. We of Forefront Real Estate would like to take this opportunity to wish you a Merry Christmas and a Happy New Year! Please take your time when traveling in our beautiful state. Your life and the lives of your loved ones matter to us here at Forefront Real Estate and to your family. Remember- Slow and Steady wins the Race!

 

Casper Real Estate

Casper Real Estate has continued to be a strong market. Casper is the second largest city in the state and has been named one of the highest-ranked family friendly small cities in the West, as well as “one of the best small cities to raise a family” by Forbes magazine. Although Casper is relatively small by national standards it is a regional hub for banking and commerce. Since oil was discovered in the region over a hundred years ago, there has always been at least one refinery in operation nearby. The development of coal and uranium fields have also helped to make Casper the center of the energy industry in the state.

Casper, WY Housing Market

$255,837 Median Listing Price

$113 Average Price per Square Foot

There are 461 homes currently listed in the greater Casper market.

 Set up your own Market Report here

 

The Tale of Two Interest Rates

As we think of all the wonderful things we hope the new year brings such as time with the family, a new job, or a new home. One of the things we may not think about is how the current rise in interest rates could affect our ability to purchase or refinance our home. We have enjoyed a remarkable period of low Mortgage Interest Rates but as you may be aware that appears to be changing.

 

The nation's leading mortgage trade group, the Mortgage Bankers Association (MBA), forecasts rising rates in 2017. Unemployment is down, wage growth (and therefore inflation) are on the rise, and consumers are spending more on goods and services. These trends are great for the economy but bad for mortgage rates.

MBA says to expect a rate hike by the Federal Reserve in December 2016. This will add to upward pressure on mortgage rates. The Chicago Federal Reserve bank president stated he expects three such rate hikes by the end of 2017, according to MarketWatch.

As you can see in the chart above the interest rate in 1985 was at 11.5%, in 2000 it was around 7.5% and today we are just under 4%. Even if we break 4% that is still a great rate especially in comparison to the historical data but pay close attention to the way it affects how much home you can afford.

With a mortgage payment under $1,000 dollars you could afford to purchase a $210,000 home while at 7.5% you will be in the $140,000 range, a difference of nearly $70,000! If you have been shopping for a home recently I am sure you know the difference the extra $70,000 makes.

Below is another example how Interest Rates can hurt your buying power. Here a change from 3.25% to 4.25% can decrease your buying power by nearly $50,000 in the example below.
 

Truthfully it is hard to guess what will happen and Interest Rates still remain extremely attractive. Remember it wasn’t very long ago when 5% was considered too good to be true and we are still hovering under 4%. However, if the time is right, you might want to move quickly to lock in a low rate to maximize your purchase power.

  

Buyer Agents: Working for You Free of Charge

By Chrystal Carothers

Home buyers should always have their own agent. Buyer agents work to negotiate the best terms and price for the buyer. Best of all, the buyer agent’s services are free to the buyer.
Most people think they have to pay a sales commission. The truth is this: only the seller pays the commission.

Whether a buyer uses an agent or not, the seller still pays the commission. The only person that wins when buyers are not represented is the listing agent.
Most buyer agents will have their clients sign an agency agreement, an Exclusive Buyer Agency Agreement. It outlines their services, how they are compensated, and how the two parties will work together.

Remember, you wouldn’t hire your spouse’s attorney to represent you in your divorce. The same goes for real estate. Why use the seller’s agent to negotiate your best interest? There is an inherent conflict of interest.
The home buying process is stressful enough without worrying about who you can and cannot trust. Your buyer’s agent is your trusted advocate.

Buyer Agents and the Agreements

According to most buyer agency agreements, the buyer’s agent must do these things:

  • Protect their client’s financial information
  • Negotiate the best possible price for the buyer
  • Must disclose to the buyer if they are working with another buyer interested in the same property
  • Show all properties the buyer is interested in that fits their criteria and budget
  • Connect you with the service providers inspectors, lenders, home warranty companies to best suit your needs


The buyer also has some responsibilities to their buyer’s agent:

  • Buyers must work with their buyer’s agent exclusively
  • Buyers should never give personal information to any other agent
  • Buyers should not call other agents to see properties, even if they think they are saving their agent some time and effort
  • Buyers should clearly define their must haves and deal breakers to help their agent streamline the showing process

Home buyers are at a premium in today’s housing market. Buyers should interview agents just as seller’s interview listing agents.
Make sure the buyer’s agent you select is familiar the type of property you want to purchase, the area you want to purchase in and the particulars of your situation. An agent is only as effective as the information they are given. Clients relocating from one city to another require a different set of skills from a client moving within the same area, for example. Buying real estate is a big decision. The best advice is to find a REALTOR® who will guide you through the local market conditions.

 

 

Posted in Newsletter
Dec. 12, 2016

The Tale of Two Interest Rates

We have enjoyed a remarkable period of low Mortgage Interest Rates but recent action by the Feds indicates that may be changing. This ultimately can affect your Purchase Power in a dramatic way meaning that all things equal the home you could afford last month may be out of reach tomorrow!

Mortgage Interest Rate vs. Purchase Power

The nation's leading mortgage trade group, the Mortgage Bankers Association (MBA), forecasts rising rates in 2017. Unemployment is down, wage growth (and therefore inflation) are on the rise, and consumers are spending more on goods and services.

These trends are great for the economy but bad for mortgage rates.

MBA says to expect a rate hike by the Federal Reserve in December 2016. This will add to upward pressure on mortgage rates.

Recently, the Chicago Federal Reserve bank president stated he expects three such rate hikes by the end of 2017, according to MarketWatch.

 As you can see in the chart above the interest rate in 1985 was at 11.5%, in 2000 it was around 7.5% and today we are just under 4%. Even if we break 4% that is still a great rate especially in comparison to the historical data but pay close attention to the way it affects how much home you can afford. With a mortgage payment under $1,000 dollars you could afford to purchase a $210,000 home while at 7.5% you will be in the $140,000 range, a difference of nearly $70,000! If you have been shopping for a home recently I am sure you know the difference the extra $70,000 makes.

How much less home can you afford if the mortgage rate increases

Here is another example that gives you an idea of how the rate can help or hurt your buying power

Truthfully it is hard to guess what will happen and Interest Rates still remain extremely attractive. Remember it wasn’t very long ago when 5% was considered too good to be true and we are still hovering under 4%.

However, if the time is right, you might want to move quickly to lock in a low rate to maximize your purchase power. 

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!  What are you waiting for?  Contact your local real estate specialist with Forefront Real Estate!

(307)224-1523
 340 W Collins Drive
Casper, WY 82601
Info@forefrontrealtors.com
Nov. 9, 2016

Do not do any of these things if you want to be a successful buyer!!!

Don’t quit or change your job.

Don’t buy furniture, a big screen TV, a car, or anything on credit.

Don’t spend money on anything that you don’t need right now.

Don’t forget the 80-10-10 Rule! If the home has 80% of what you want, 10% of stuff you can change and 10% that you can just deal with, put in an offer it’s a keeper.

Do not consider a short-sale purchase if you need to move quickly or don’t have a flexible time table. Short-sale doesn’t mean quick sale.

Don’t be unreasonable.

Don’t believe what you see on reality TV.

Don’t call other agents if you have an agent.

Don’t cancel appointments without a really, truly, good reason.

Don’t change your name while trying to secure a mortgage.

Don’t co-sign a loan for anybody!

Don’t forget the clock doesn't start ticking until the loan officer receives the contract, period.

Don’t forget to get a home warranty.

Don’t forget to mention you have a house to sell.

Don’t give away your negotiation power by speaking to, in earshot of, or even in the home where you could be recorded by the sellers.

Don’t hide anything from your mortgage company.

Don’t ignore paperwork especially from me or your lender.

Don’t let the right home slip away while you search for every other home on the market.

Don’t make bank deposits with mystery funds everything needs to be traceable!

Don’t order any utilities including TV, phone, or internet that will pull a credit check just as your mortgage is going through review.

Don’t schedule a vacation at any time leading up to, near, or immediately following your anticipated closing date. If you do things will most certainly come up that require immediate attention just as you board the plane. Closing delays will occur and you won’t be able to move in as expected or may even lose the deal.

Don’t seek out a lender with a rate that is too good to be true, need I say more?

Don’t ever, never ever, skip a home inspection.

Don’t sleep on the offer for the right home or you might not get to sleep in it.

Don’t speak directly “off the record” with sellers; there is no such thing as “off the record”.

Don’t start looking for your dream home before you are fully qualified. Nothing is worse than finding out you can’t afford it. Except finding out you could afford it, but since you weren’t prepared to place an offer somebody else bought it.

Don’t stop believing in “love at first site”. Often one of the first homes you really like is the one you realize you love after spending weeks chasing every home on the market; only to find it is now under contract. 

Don’t talk poorly about the home in front of the owners. It won’t buy you any favors when someone else puts in a competitive offer.

Not getting a gift letter and a bank statement for funds from the person who is giving you a financial gift proving they had the money to give.

Not informing your lender about child support, alimony, wage garnishments or any other payroll deduction.

Not using your legal name on your mortgage application

Not telling me what matters Most to you.

Posted in Buyer Tips
Oct. 29, 2016

Reality TV Show Myths vs. Real Life

Real Life vs. Reality TV: 5 Myths Explained

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV ‘show hole’*? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Flip or Flop,” “Property Brothers,” and so many more, just in one sitting.  

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but more often than not the process of buying a home means touring more than three homes.

Myth #2: The houses the buyers are touring are still for sale.

Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.

Myth #3: The buyers haven’t made a purchase decision yet.

Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.

Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.

Truth: Of course this would be great! Open Houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well. 

Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.

Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their home and move on with their life/goals.

Bottom Line

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!  What are you waiting for?  Contact your local real estate specialist with Forefront Real Estate!

(307)224-1523
 340 W Collins Drive
Casper, WY 82601
Info@forefrontrealtors.com
Posted in Buyer Tips, Seller Tips