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Choose an Experienced Buyer's Agent

by Glenda Daughety

Buyer’s Agent

If you are buying or selling a home in the Baton Rouge area, you might have come across the term “buyer’s agent” in your research and wondered just who these people are, and what they do, and by the way, do I need one?

These are all excellent questions that deserve equally excellent answers from professional, experienced real estate experts. Fortunately, you’ve found the best place in Baton Rouge to get all of your questions answered and problems solved: The Glenda Daughety Team.

In this blog post, you will learn what a buyer’s agent does, the advantages of hiring one, and why The Glenda Daughety Team should be your go-to agency, not solely as a buyer’s agent, but also for the full spectrum of real estate situations.

Buyer’s Agent 101

The simplified definition for a buyer’s agent is, as the moniker implies, a real estate professional who is hired by the buyer of a property in order to guide the buyer through the often tedious, not infrequently confusing, and sometimes vertigo-inducing real estate purchasing transaction.

If it helps, you could think of your buyer’s agent as the real estate equivalent of a Sherpa: They are there to keep you from getting lost or (financially) hurt on your expedition to the summit of the property purchase mountain.

When you hire one of the Glenda Daughety Team’s buyer’s agents, he or she can help you with myriad aspects of buying a home including providing an expert’s eye for potential problems, negotiating to get you the best possible price and terms, and overseeing the transaction process to make sure it proceeds smoothly.

It would be understandable for you to take into account the fact that a buyer’s agent adds costs to the transaction in the form of a commission; however, in the majority of cases, the buyer’s agent works directly with the seller’s agent and the commission is split. Often more important, however, is the potential cost of not having an agent when problems arise or if a transaction takes an unexpected turn. In most cases, of course, the seller is represented by an agent and as a buyer you may suffer from an “expertise gap” if you are not advised and represented by an expert.

The three primary types of buyer’s agents, according to the National Association of Exclusive Buyer Agents, are as follows:

  • Buyer’s Agent (BA): A conventional real estate agent who works with property listings as a major part of the agency for which he or she works. These folks are sometimes referred to as a “dual agent” because they are usually hired to represent each side – seller and buyer - of a real estate transaction.
  • Single Agency Buyer Agent (SA): An agent who is hired to represent only one side of a real estate transaction – seller or buyer – and as such, does not act as a dual agent.
  • Exclusive Buyer Agent (EBA): This agent works for an office that represents only buyers and does not work with general real estate (seller’s) listings.

These are condensed definitions meant to give you an informed jumping-off point into determining the type of buyer’s agent will best fulfill your specific, personal and unique needs.

For more in-depth information about buyer’s agents, check out Nolo LAW for ALL.

Real Estate Scam Hits Baton Rouge Area

by Glenda Daughety

Baton Rouge area real estate agent - Glenda DaughetySome people who listed their Baton Rouge real estate and homes for sale recently on an online classified advertising site, such as Craigslist or HotPads, found themselves victimized by unscrupulous con artists.

It is an unfortunate fact of life that there are diabolically selfish people in the world who will do just about anything to get money, regardless of who they might hurt, run over or destroy to get it.

It’s not just that these people do not care about how the repercussions of their actions are going to affect their victims. In fact, they are absolutely counting on many people to have a trusting or even naive nature.

A perfect example of this type of greedy mindset recently reared its ugly head for some homeowners in Baton Rouge, including the President of the Greater Baton Rouge Association of Realtors, Linda Gaspard.

These scammers have figured out how to gain access to ads and add their own text to them. Many of these contained a sentence in them that said something akin to, "I have decided to rent it out due to our transfer to West Africa for missionary work."

Safety in Anonymity

There are countless ways in which the relatively fast growth, expansion and innovation in communication technology has enriched our lives. So much so that most of us who are less than 40 years old probably cannot imagine what life must have been like before smart phones, personal computers and the Internet.

Because we entrust so much of the financial interworking and logistics of our daily lives to the cold, impersonal abyss of cyberspace and most of the time everything works out just fine, we can easily overlook some of the warning signs of scams that in hindsight appear to be glaringly obvious.

Some of the most common red flags to look for include:

  • Terribly poor grammar
  • Grossly overpriced property
  • Grossly under priced property
  • Any request for you to wire a monetary deposit

For most of us, the idea that we might be getting scammed doesn’t enter into our minds unless the same type of con has been run on us before or we begin noticing that things just don’t feel right.

So remember, do not give personal information to anyone over the Web unless you have absolute trust in the person or company to whom you are giving it. And, if you think you are being victimized by an online scam, your best recourse is to contact your local police or sheriff’s office.

Real Estate Blog

by Glenda Daughety

Check out my Real Estate Blog for the latest Baton Rouge and surrounding Parishes Real Estate and Community info!

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Baton Rouge Affordable Housing in Melrose Place

by Glenda Daughety

Baton Rouge Community College offers incentives to move to this Baton Rouge community

Melrose Place (not to be confused with Melrose Place East, consisting mostly of rentals) is a Baton Rouge community offering up and coming real estate value.  This are is known for its Baton Rouge affordable housing in a neat, fairly modern neighborhood.

Location has its benefits in this Baton Rouge community.  Melrose Place is situated on Baton Rouge real estate between the Bon Carre Business Center and Baton Rouge Community College.  This easy access to employment and a business center, as well as the proximity to a growing educational institution, makes Melrose Place a desirable location for a Baton Rouge home.

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Briarwood Estates, Baton Rouge

by Glenda Daughety

Great Baton Rouge home receiving update

One of the best Baton Rouge real estate values to come along in awhile.  This home listing in Popular Briarwood Estates in Baton Rouge is receiving an update right now.  This beautiful home is located in a lovely area of Baton Rouge.

The current owners are transferring, and the new master suite is just being completed.  It has a large walk-in closet, updated bath and a sitting room.  Other features of this Baton Rouge home include a formal dining area, an office, a sunroom and plenty of counter space in the kitchen.  A great real estate value at less than $300,000!

To take a look at this great Baton Rouge real estate, and to see other Baton Rouge real estate values, contact Glenda Daughety.

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LSU Plans to Get Another Live Tiger as Mascot

by Glenda Daughety

After the deal of Mike V, LSU begins the search for Mike VI over objections of PETA

PETA wants LSU to use a human mascot now that the bengal tiger mascot, Mike V, has died.  However, LSU insists that a live tiger mascot is an integral part of the Baton Rouge community, and the search for Mike VI is on.  The Advocate reports:

"The live tiger mascot has been part of the LSU family and community for 71 years, and we will be getting a Mike VI, said Ginger Guttner, spokeswoman for the LSU School of Veterinary Medicine, which is leading the process.

LSU insists that its treatment of the live tiger mascot is humane, even though PETA does not agree.

 

For more Baton Rouge community news, and to search Baton Rouge real estate, contact Glenda Daughety.

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Check out my NEW Listings!

by Glenda Daughety

Woodland Crossing--> Click here for a Virtual Tour!
Denham Springs, LA - 

 

S Harrells Ferry Landing--> Click here for a Virtual Tour!
Baton Rouge, LA - 
Secluded, one street subdivision in fast growing area of Baton Rouge.  Across from Runnels School.  Only 5 years old in immaculate condition with designer colors thru-out.  Formal Dining, fabulous Living Room with corner fireplace overlooking backyard with covered patio and large decked area.  Wood, ceramic tile and carpet floors.  Office could be 4th bedroom.  Kitchen has NEW Granite slab counters, backsplash and NEW stainless steel appliances.  You'll love coming home to this one!

 

Broadmoor Park-->  Click here for a Virtual Tour!
Baton Rouge, LA - WHAT A FABULOUS HOME TO COME HOME TO! INVITING OPEN FLOOR PLAN, MANY NEW UPDATES INCLUDING DESIGNER COLORS, AND WOOD FLOORS. FORMAL LIVING ROOM, WONDERFUL KEEPING ROOM, AND LARGE SUNROOM - GREAT FOR OFFICE OR PLAY AREA FOR KIDS. WALK-IN CLOSETS IN EACH BEDROOM. LOTS OF CABINETS IN KITCHEN AND ROOM FOR AN ISLAND. WORKSHOP WITH ELECTRICITY. GREAT LOCATION FOR SCHOOLS, SHOPPING, LIBRARY AND MEDICAL FACILITIES. YOU'LL LOVE THIS BEAUTIFUL HOME!

For more listings visit us at www.GlendaDaughety.com!

 

 

 

Wonderful NEW subdivision just off I-12. Almost one year old home with many updates. Ceramic tile thru-out except bedrooms. Upgraded carpet in bedrooms. Built-in microwave, backsplash with ceramic tile, custom blinds through-out. Open floor plan for entertaining, large island and corner sink in kitchen, walk-in pantry, wonderful master suite. Great yard for those cookouts. Double garage.

Coping With A Changing Mortgage Market

by Glenda Daughety
 

After rising all last year, interest rates recently fell for six consecutive weeks to their lowest point since July.

Less than a year ago, experts everywhere, from the Federal Bureau of Investigations to the Federal Reserve, questioned appraised values of homes. Now, as the boom wanes, lenders are more certain mortgages are backed by accurately valued collateral.

That doesn't mean lenders aren't still going gangbusters on riskier, high-leverage loans for those who qualify even if income, employment and asset documentation aren't checked.

Along with housing market change comes mortgage market change in a symbiotic -- sometimes nightmarish -- relationship of ebbs and flows that can leave consumers tossing and turning at night.

Fortunately, for home owners and those looking to buy, the fundamentals still apply.

Sound, consistent financial behavior can be like a dose of NyQuil.

Here are some timely mortgage tips to soothe your worries and to help you sleep more soundly.

 

  • Pull your credit report. Before you shop for any credit, pull your credit report from the only federally sanctioned free service, AnnualCreditReport.com. You don't have time for surprises. Know what the lender will know before the lender knows. You may need to make changes to your credit report, housing budget or timing, depending upon what you find.

     

  • Mortgage money shop. Shop several or more lenders and loan programs, as well as title and escrow fees, online and off to get the best deal. To make the best comparison, compare all loan costs whenever possible including rates, points, brokers fees, originating fees, yield spread premiums, recording fees, title and escrow costs, everything that will wind up on the HUD-1 Settlement Statement.

     

  • Mortgage rate locks for home buys, refinancing and equity taps, are always wise, especially during market shifts. Right now, they are crucial because experts expect the upward trend in interest rates to resume.

    A rate lock takes the uncertainty out of which way rates are moving or even where they are, because it's a lender's guarantee your mortgage will come with a specific interest rate, points and other terms. Get the lock in writing and lock in as many costs and terms as possible, including the lock's effective date, expiration date and any post-lock options, should the lock expire before the deal is done.

     

  • A preapproved mortgage goes hand in hand with the rate lock. Get preapproved with a bona fide, carved-in-stone preapproval that guarantees in writing a loan amount, interest rate and as much of the other loan terms as possible.

    Prequalification only indicates you are creditworthy enough to obtain a loan and lets you know how much the lender is willing to lend you, which could be more than you can afford.

    With a preapproval, instead of shopping around with a nebulous loan amount, you'll be shopping for a home with a mortgage and along with personal satisfaction, it will give you a negotiating edge with the seller who'd rather not deal with slouches.

     

  • For current homeowners, take control of your equity and use it wisely to boost, not bust your home value. Any equity loan, by nature, is an equity depleting loan.

    Take cash out primarily for capital improvements (not all home improvements are created equal) that will help hold or improve the value of your home, especially during times of flat and falling home values.

    Home equity can be a real gold mine, but you don't want to drain your mother lode.

    "Taking control of your home equity means not allowing interest rates to push you into making a hasty decision," says Jim Ferriter, an executive vice president with GMAC Mortgage. "Instead, take a deep breath, contact your mortgage professional, and carefully explore your options. In addition, consider seeking the assistance of a financial planner or tax advisor to provide additional insights about managing your home equity in light of your other personal finance decisions."

    Fundamental advise is to tap your equity for well-investigated business opportunities, education and other investments that give you a return equal to or better than the cost of equity loan. Debt consolidation can be a wise use of equity provided you plan to actually pay off the debt and close, in writing, consolidated accounts.

    Consolidate debts with care and advice from MyFICO.com or other sources that can help you prevent lowering your credit score when you close too many accounts quickly.

    For emergencies -- medical, job related, child birth, deaths and the like -- consider, with determined discipline, keeping a line of credit on standby. Remember, once you are out of work, lenders are less likely to grant you a line of credit.


    Written by Broderick Perkins

  • New Year's Resolutions for The Home

    by Glenda Daughety
     


    Whether you're a new homeowner or you've been in your house for years, why not resolve to make 2007 "the year" you whip your house and household finances in top shape? It could prevent you from encountering costly problems down the road - and assist you in getting top dollar when it comes time to sell.

    The first thing you should do is develop and then implement a maintenance plan.

    "A homeowner who makes the necessary yearly investment will end up saving in the long run because routine maintenance can help avoid larger, more expensive repairs that can add up to the tens of thousands of dollars or more," said Mike Kuhn, director of technical services for Housemaster, a New Jersey-based home inspection company. "It is just like giving your home its annual physical."

    The Insurance Information Institute, the American Society of Home Inspectors, and the National Association of Home Builders offer a host of maintenance tips - tips that you should resolve to adopt wholeheartedly in the year ahead.

     

  • Water. Check visible water pipes and sewer lines for cracks, rusting and leaking; turn on faucets to test water pressure and volume; and look for clogged or sluggish drains or dripping faucets. If pipes are galvanized or steel and the house is old, be sure to check carefully along the entire length of the pipe. Wrap your pipes with heating tape every winter and insulate unfinished rooms such as garages if they contain exposed pipes. Also check for signs of leaking or rusting on your water heater.

     

  • Electricity. Check your electrical system's load center and see if there are fuses or circuit breakers; also check its age and look for signs of wear or exposed wires.

     

  • Heat. Check your heating system for gas leaks and cracks in the heat exchanger. Maintain your furnace, fireplace, boiler, water heater, space heater and wood-burning stove and have your heating system serviced every year. Clean and vacuum dust from vents, baseboard heaters and cold-air returns.

     

  • Gas. Check smoke and fire alarms and carbon monoxide detectors and change your heating and air conditioning filters. Have your appliances inspected for gas leaks and adequate ventilation.

     

  • Insulation. Your attic should be five to 10 degrees warmer than outside air. Check weather stripping and caulking around windows and doors and replace or repair it as needed. Also repair broken glass and loose or missing putty on windows.

     

  • Basement/Attic. Well-insulated basements and crawl spacers will protect your pipes from freezing. Check the basement for signs of water leaking, dampness, flooding, dry rot and termites. Check the attic for signs of leaks and any rodent or insect infestation.

     

  • Exterior. Remove all debris from gutters. Maintain your steps and handrails. Inspect your roof for damaged or loose shingles; gaps in the flashing where the roofing and siding meet vents and flues; and damaged mortar around the chimney (especially at the joints, caps and washes). Inspect your home's exterior walls, looking for possible weather-related damage like cracks and loose or crumbling mortar.

     

  • You should also resolve to get your finances in order. Eric Tyson and Ray Brown in their book Home Buying for Dummies say it's especially important to build up your reserves and get your financial house in order after you buy a home.

    You should begin by resisting the temptation to splurge. Refrain from using a credit card and keep your other financial goals, like retirement, in mind. You should have at least three months' salary in your emergency fund. Try to stay away from unnecessary spending until you reach this goal.

    Think about E-payments, which ensure that you never pay late, and late payments can tack on an extra five percent late payment fee.

    You'll also want to think about taxes and refinancing options.

    If home prices have dropped in your neighborhood since you've moved in, you may want to consider appealing your assessment since the tax is based on your home's value in most communities. Also keep your financial documents organized so you'll be more prepared at tax time.

    If interest rates go down, think about taking out a new loan at the lower rate to replace your original loan. Be sure to consider how much refinancing the loan will cost you. Refinancing won't benefit you unless you plan on staying put for at least five years.

    Also, plan and budget for any major repair, remodeling or decorating projects you'd like to pursue in 2007. Take your time, shop around for the best prices, and if you're hiring a contractor, get plenty of references.

    If you've been putting off landscaping your house, make plans to do it now. The right landscape can increase the value of your home by 15 percent, allowing you to recoup 100 to 200 percent of your investment, according to the Association of Landscape Contractors of America.

    And if you do any home improvement projects, keep your receipts. You may be eligible to minimize the capital gain that may come your way when you eventually sell. The improvement must be one that permanently increases the value and useful life of the house (like a new roof).

    By keeping your house and finances in order in 2007, you're sure to thank yourself at this time next year.


    Written by Michele Dawson

  • Buying Houses Just One Way To Invest In Real Estate

    by Glenda Daughety

    Buying Houses Just One Way To Invest In Real Estate

    Everyone generally understands that as a real estate investor, the concept is to let someone else's rent payments pay for your mortgage and to hopefully come out with a positive cash flow at the end of the month.
    There are plenty of ways to get started in real estate investing. Here are some one-line descriptions of how to do it including the pros and cons of each alternative.
    Foreclosure
    How it works: Purchase the property at a courthouse auction -- hopefully for less than it's worth. Fix it up, sell it or rent it out.
    Pros: This is a common sense approach to getting started in real estate investing. If you can get the property for a wholesale price and then rent it out for more than your mortgage, you're on your way to building wealth one month at a time.
    Cons: You get into the property and find out it has major problems costing a lot more than you'll ever recover. Ever heard of concrete being flushed down the drain (usually out of spite from the former owner)? It means having to remove all the sewage drains. Hidden defects can run costs up and give you a red ink bath before it's done. Since the bank/note holder is selling the property as-is, there's not much recourse.
    Fixer-Upper
    How it works: Purchase a property that needs major repairs. This is not a property that just needs paint and carpet. This type of property usually has rot, flooring, roofing, basement and just overall problems. But that's what makes it so enticing.
    Pros: For investors with their repair ducks lined up in a row, this can be a good money maker. The key here is to hammer on the seller early in the negotiating process. Get the house for as low as possible and know what your bottom line really is.
    Cons: For those wanting to flip the property, if you can't make $30,000 -- $50,000 on the projected profit, then you may want to pass. Why? An unseen defect can run into the tens of thousands of dollars really quickly.
    Retail Investment
    How it works: Keep your eye open for under-priced properties in an area where rentals are brisk. This would be a house that really does just need paint and new carpet. Be sure you know what the rents are before going into the property. You want a positive cash flow before you even walk into the property.
    Pros: A house that is in good shape can rent for years without any major expenses if it was taken care of early on.
    Cons: Good rental properties -- say, in a college town or near a military base -- don't come on the market often, so you could be waiting a while before you find one. (Experienced investors usually scoop these up before the novices even know they're on the market.)
    Paper Real Estate
    How it works: This one is where you invest in the mortgages of real estate instead of the real estate itself -- financing second trusts, purchasing mortgages at a discount, wraparound mortgages, etc.
    Pros: For those who have cash, this one can give major returns on your money. For example, if you can pick up a $20,000 note at 12 percent for $15,000, your return on the note jumps to 16 percent. This is not going to fluctuate like the stock market is sure to do.
    Cons: Your mortgagee (the borrower) could skip town, leaving you to foreclose -- right behind the first-trust note holder who usually gets paid first in a foreclosure.
    These are just a few of the ways you can get started in real estate investing. For more education, find a good REALTOR® to start working with who can show you the ropes and help you avoid the pitfalls. Written by M. Anthony Carr
    Wondering What Your Home Is Worth? -- Let me show you.

    Displaying blog entries 151-160 of 160

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    Glenda Daughety
    RE/MAX First
    4750 Sherwood Common Blvd
    Baton Rouge LA 70816
    225-205-2672
    225-291-1234
    Fax: 225-612-6422

     

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    Glenda Daughety & Team
    RE/MAX First
    Office: 225-291-1234
    Cell: 225-205-2672
    4750 Sherwood Common Blvd
    Baton Rouge, LA 70816
    Each Office Independently Owned and Operated
    Licensed Realtor in the State of Louisiana by the Louisiana Real Estate Commission



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