Living In Pittsburgh Real Estate Podcast

How We Work to Get All of Your Questions Answered

curtbuchanan326@gmail.com (Curt Buchanan) — Tue, 6 Jun 2017 07:52:00 -0700

Sadly, real estate agents don’t have all the answers. However, we can still make sure you get all the information you need.

Click here to contact me for all real estate questions

Unfortunately, real estate agents don’t always have all the answers. However, we can direct you to someone who does.

If you ever ask us something we can’t answer, we’ll direct you to a source that knows more about the question than we do. Some common questions we get asked that we can help you with are:

If we can’t answer your questions, we’ll find you someone who can.

Is this a safe neighborhood? I have all the police zones, telephone numbers, and maps to provide you with. The police will be able to answer what’s going on in a specific neighborhood.
Should we be concerned about that crack in the wall? For this question, I have a list of home inspectors. You can pick any home inspector you want as long as they’re registered by the state and National Association of Home Inspectors and they will let you know what’s going on with that crack in the wall.
How good is the school district here? I have a sheet with school-related links that should help you answer any questions you have about specific schools or districts.

Something we can’t help you with is asking to be shown a home in a certain neighborhood based on race, ethnicity, backgrounds, etc. The fair housing laws forbid us to do that. We suggest you spend time in the neighborhood to see if it’s right for you. Walk the streets, go to restaurants, and see if you’re comfortable there. After that, we can show you all the homes in that neighborhood you want. However, it’s against federal law to show you a home based on the previously mentioned criteria.If you have any questions about how we can help you or you're looking to buy or sell a home, feel free to reach out to us. We'd be happy to help.

Did You Know I Produce a Magazine?

curtbuchanan326@gmail.com (Curt Buchanan) — Tue, 23 May 2017 08:37:00 -0700

Did you know I produce my own magazine? Let me tell you a little about it.

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Did you know that I produce a magazine and send it out to hundreds of subscribers every other month?

You’re more than welcome to subscribe as well. We now have two different versions, a traditionally printed copy and a digital copy. The digital version has live video links that will allow you to see the different artists, chefs, and guided tours of different areas.

We have a print version and a digital version.

The magazine is called American Lifestyle, and I really think you’ll like it. If you’d like to join the subscription list for the print version, digital version, or both, give me a call or send me an email. I’d be happy to help you out and I’d love for you to check out the magazine.

I look forward to hearing from you soon.

The First Step to Purchasing a Home

curtbuchanan326@gmail.com (Curt Buchanan) — Fri, 21 Apr 2017 10:22:00 -0700

Today I’ve brought in Todd Stainbrook, the President of AJM Mortgage, to help you get started on the process of buying a home.

Click here to contact me for all real estate questions

There are three ways AJM Mortgage sets themselves apart from the competition: they make it easy, they shop for you, and they’re always available.

How do they make it easy? From the very start, a client can apply online or over the phone. 98% of their disclosures can be signed electronically with the click of a mouse. Additionally, all of the documents can be uploaded securely to their online website.

They also do the shopping for you. They match each individual client’s needs to the perfect lender. Their approach to finding you the right lender focuses on a financial planning, so whoever they match you with will be able to help you achieve your long-term goals. They’ve also got some great products such as lender-paid PMI loans and conventional loans with as little as 3% down. They are also well versed in FHA and VA loans which can allow for a debt ratio of up to 60%.

With AJM Mortgage, you can apply online or over the phone.

Finally, they know how important it is to be available. Buying a home can be an emotional process, but you can call Todd’s cell phone anytime. He’ll always make an effort to call or text you right back. In fact, Todd once did a mortgage application for a school teacher at 5:30 in the morning! They want to make sure they are getting back to you in an incredibly timely manner, which is a service you won’t get from everyone.

If you have any questions for Todd, you can reach him at (412-855-4696) or email him at todds@ajmmortage.com. Calling him is the first step to purchasing your dream home!

As always, if you have any questions or are looking to buy or sell a home, don’t hesitate to give me a call or send me an email!

We Have an Exciting Announcement to Make

curtbuchanan326@gmail.com (Curt Buchanan) — Thu, 9 Feb 2017 09:53:00 -0800

I’ve got an exciting announcement to make today. I’ve joined a new company!

Click here to contact me for all real estate questions

Red and blue were the colors that everyone became sensitive to in 2016 because of the election and politics. In a non-political sense, they represent something else for us. We are transitioning from the blue of Coldwell Banker to the red of Keller Williams.
After much thought, I’ve decided to join Keller Williams right here in Pittsburgh. KW has a growing network both nationally and internationally of more than 150,000 agents.

This office alone has grown 54% in just two years. They offer exceptional training here at the office and remotely.

I am excited to join Keller Williams.

They have a full-time commercial division based right here in the city and the flexibility for agents to rewrite contracts and tailor them to the individual needs of the client. I have my own private office too where you can come in and discuss sensitive financial information privately without being interrupted or overheard by others.

As I move, I hope to see you in the coming year to get reacquainted. If we haven't met, I’d love to get together as well. If you have any questions at all or want to set up a meeting to talk real estate, give me a call or send me an email. I look forward to hearing from you!

What’s a Processor’s Role in a Real Estate Transaction?

curtbuchanan326@gmail.com (Curt Buchanan) — Thu, 8 Dec 2016 09:48:00 -0800

A processor’s job in a real estate transaction is to facilitate communication between all parties and verify all information being transferred.

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Have you ever heard of someone in a real estate transaction being referred to as the processor? Who is this person? What do they actually do?

You can think of the processor as the coordinator of the transaction. They’re the ones who keep all the parties involved when getting a loan to closing. They make sure those parties interact with each other and that all information is accurate and ready for the lender. A more localized bank here in Pittsburgh may have their own processor. A mortgage broker, though, may be the processor intermediary with the lender, who may not be here in Pittsburgh.

A processor’s first job is to set up the file to get all information from all parties so they can start coordinating. This involves ordering the title search to go to the county courthouse to ensure that there are no problems with the property. If there are any issues, they’ll parley with either the buying agent, the listing agent, or the property’s previous owners to get it straightened out.

From there, they’ll contact both the buying and listing agent to send questionnaires to their clients in order to gather all possible information from the buyer and seller so they can settle any disputable issues and verify that everything is done correctly at closing.

A processor is invaluable in getting a deal to close.

When the title work comes back, they inspect it to ensure that the right property is named, the property is accurately described on the title, and there is no defect in the transfer. They also verify that the buyer is gainfully employed and parse all available financial information from them, such as their pay stubs and credit report. If necessary, they’ll check the deed for accuracy and make corrections by consulting the master attorney.

If you’re a buyer, it’s important to note that the person that you talk to to get the loan application is not the processor, and they often don’t know the details of what’s going on behind the scenes.

As the transaction moves toward its conclusion, the processor makes sure that all the final tax prorations and numbers are ready for closing. They then pass off that information to the closing attorney so they can also make sure that it’s accurate and the deal closes on time. After that, they verify that all bills were paid that should’ve been paid at the closing. Finally, they terminate the file after they are satisfied that everything was handled correctly.

If you have any questions about this topic, please feel free to call me or shoot me an email. I’d love to talk with you!

How We Helped Ray Sell and Buy a Property in a Timely Fashion

curtbuchanan326@gmail.com (Curt Buchanan) — Mon, 7 Nov 2016 12:57:00 -0800

“He was wonderful. We were totally pleased with how everything turned out. The sale of our other residence and the purchase of our ranch house - we were totally satisfied with how he handled it and it was done in a timely fashion. We weren’t made waiting and hanging. He was always available to us if we had questions or whatever. We never had a problem with long delays or not being able to get in touch with him or anything like that. It just went very smoothly.”

What’s the Difference Between Appraisals & Assessments?

curtbuchanan326@gmail.com (Curt Buchanan) — Tue, 4 Oct 2016 10:13:00 -0700

What is the difference between appraisals and assessments? I will explain everything you need to know about both today.

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Buyers and sellers often get appraisals and assessments mixed up, so I want to explain the difference between the two today.

The appraisal is something that the bank orders when you get a mortgage. The bank will send out an appraiser to determine the base value of the mortgage.

An assessment is something the county does to set a tax base for everyone in the county. Each individual home is assigned a value that is usually quite a bit less than the market value. When you add up all the millage in the city of Pittsburgh from the school districts, libraries, and counties, that comes to $22.88 million. If you have a property assessment of $100,000 and multiply by that millage of 22.88, your taxes would be $2,288.

One thing you should keep in mind is that the MLS uses the county assessment as a market value in listing sheets. You may see an assessed market value of $100,000 on a listing sheet for a property that the seller has priced at $190,000; that does not mean that the home is overpriced. The county assessment determines the market value for tax purposes. You want the assessed value to be low because then the taxes will be lower than they would be if they were based on the sales price of the home.

The county orders assessments to set a tax base.

Now, that could change after you close on the house. The county often reviews sales prices and they may increase the assessed value of the property. This doesn’t happen very often, and it is incredibly rare for the assessed value to be the same as the sales price.

Finally, there is one other important value that you should be aware of: the Homestead Exemption. If you are buying a property that you plan to live in, you can apply for the Homestead Exemption to get a chunk of value taken off the tax base. This option is not available for investment properties. You need to apply to the county for the Homestead Exemption. The county reassesses the Homestead Exemption each year on March 31st.

If you are interested in applying for the Homestead Exemption, let me know and I can send you the application form. If you don’t apply for the Homestead Exemption, nothing happens—you will still have to pay taxes based on the assessed market value of the home.

Hopefully, you have a better understanding of appraisals and assessments. If you still have questions about either, just give me a call or send me an email. I would be happy to help you!

Where We Get the Term "Listing" in Real Estate

curtbuchanan326@gmail.com (Curt Buchanan) — Mon, 19 Sep 2016 10:43:00 -0700

In real estate, the term "listing" seems self-explanatory, but did you know there's actually a pretty interesting story behind it? We put together a little skit for you to explain.

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In today's issue of our series talking about living in Pittsburgh, we're going in a bit of a different direction. We're explaining where the term "listing" comes from. You may think you know where it comes from, but the true story is actually pretty interesting.

We put together a little skit to show you how the term came to be. We had a bit of trouble keeping a straight face, but we had a lot of fun. Take a look at the video above for our rendition of the history of the term "listing."

Make sure you stay in contact with your mortgage company.

Thanks for watching! If you have any questions for us about the Pittsburgh real estate market, give me a call or send me an email. We'd love to help you out.

What Happens After the Agreement Is Signed

curtbuchanan326@gmail.com (Curt Buchanan) — Fri, 2 Sep 2016 09:11:00 -0700

Hey happy buyer, you got a contract! The seller accepted your offer! What happens next?

By law, your hand money (the check you gave when you made your offer) has to be deposited within 48 hours. You then have seven days to apply to your lender so that they can plan a final appraisal on the house. The appraisal should be done within 30 days, if not sooner.

You then have to hire a home inspector to do an inspection for you. We have a list of recommended home inspectors you can contact if you wish. When the final results are accumulated for the property, you have three options. You can either accept the property as is, renegotiate if something needs fixed, or terminate the deal altogether. If you’re following through with the deal, make sure to apply for homeowner’s insurance.

Make sure you stay in contact with your mortgage company.

When the appraisal comes back, you have the same three basic options. You can accept it if it’s at the price or higher, renegotiate if it’s lower, or terminate it and get your hand money back. Be sure that you’re in contact with your mortgage company during this period so that they can update your account, and don’t make any large transactions while you are trying to purchase the house.

After this, you’ll receive the mortgage commitment. This merely affirms that the lender has reviewed all your documents and is ready to close. From there, all the paperwork goes to the attorney so they can prepare it for the final closing. The day of the closing, you do a walkthrough of the house to ensure that it is as you saw it when you bought it. Finally, you hand over a certified check for the balance due, and the keys are all yours.

If you have any questions or have a topic in mind you would like discussed, be sure to call me or send me an email to let me know.

Protect Your Pittsburgh Home While You’re Away

curtbuchanan326@gmail.com (Curt Buchanan) — Wed, 17 Aug 2016 12:25:00 -0700

There are several things you can do to protect your home from unwelcome visitors while you are away or on vacation. Here are a few examples:

1. Install a doorbell with a video camera. These cost about $200 and go right where your doorbell goes. They can run off of batteries or they can be connected to your doorbell transformer. These doorbells also connect to your cellphone so you can see who is at the door and even talk to them. If you say you’re busy, they have no idea if you are home or not.

2. Add lights outdoors. Having exterior lighting is a great way to deter unwelcome visitors. LED lights won’t cost you much on your electricity bill, and you can get a timer so the light goes on at dusk and off at dawn.

3. Advertise that you have a security system. Whether you have Guardian, ADT, or any other system, the sign discourages people from entering your home because they know that an alarm will go off when they enter.

4. Install a key box with a code. If someone needs to get into your home while you’re away, don’t leave a key under the mat. These key boxes can be mounted on a brick wall or doorframe. You can set a four-digit code so no one else gets the key, even if they manage to get the key box off the wall.

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Outdoor lighting protects your home without costing you more in utilities.

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5. Use a timer to set off your indoor lights. Put these timers in two or three different rooms so they turn different lights on and off throughout the day and night. That way, people will think someone is still in the house.

6. Leave the yellow card for your postman. Mail or newspapers piling up is a sure sign that your house is empty, so make sure you let them know not to deliver your mail or paper while you are out of town.

7. Tell your neighbors you will be gone. This is the most important thing you can do. Your neighbor will know if your cleaning lady is supposed to drop by on Thursday. Your neighbor can tell if there are people who aren’t supposed to be there hanging around your home.

If you have any questions, give me a call or send me an email. I would be happy to help you!

Why Your Offer Is Being Rejected in Pittsburgh

curtbuchanan326@gmail.com (Curt Buchanan) — Mon, 8 Aug 2016 08:32:00 -0700

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The real estate market is hot in Pittsburgh. Buyers are fighting tooth and nail to find good homes, and you may have had one or more of your home offers rejected. Inventory is low, which makes it harder for you to find good homes to purchase. There is simply too much competition, and the only way to deal with this is to write stronger offers on homes that you want to purchase.

It’s taking a home in Pittsburgh roughly 23 days to sell, so your offer needs a sense of urgency. You will also have to be ready to pay close to the home’s listed price. People always seem to think that nobody pays full price for a home, but the opposite is true for buyers in Pittsburgh. Some people are paying over the listed price for a home. On average, people are paying 97% of a home’s listed price in Pittsburgh. This means that you have to put down an offer that is at least 95% of the asking price.

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Your offer needs to be close to the list price.

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Making a competitive offer is crucial if you want to stand a chance at buying a home in Pittsburgh. It should also be free of contingencies and you might want to offer to pay most of the closing costs as well. However, every situation is different and I recommend that you call me to discuss your offer.

If you need more advice, please don’t hesitate to contact me!

Run Rabbit Gilding Is a Worthwhile Investment

curtbuchanan326@gmail.com (Curt Buchanan) — Thu, 21 Jul 2016 10:21:00 -0700

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Welcome to the first in a series about living in Pittsburgh. A few months back, I wanted to improve the look of my house. I noticed the letters on my mailbox were worn, and I wanted to update them. This led me to local artist Andrew Paul, who runs a business called Run Rabbit Gilding.

Andrew is a screen printer, gilder, and sign painter. He came up with the name “Run Rabbit” because he was born in the year of the rabbit, and had always felt lucky growing up. He wanted to incorporate “rabbit” in his company’s name.

Andrew has developed his skill as a gilder through years of practice. It can be difficult and expensive to learn how to gild with gold leaf. Gold leaf is thinner than a strand of hair and any bit of static or wind can affect it. You can’t force gold to do what you want it to do, so you’ve got to find the right tools and treat it correctly.

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The sign will last as long as the building.

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With a vinyl sign or banner, you’ll have to replace it in a few years. With a gilded sign from Run Rabbit, the sign will last as long as the building does, looking as new as ever. Run Rabbit Gilding has done work for many businesses and homes around town including Garden of Mind, Sapling Press, and more. To find out more about their services, visit their website.

If you have any real estate needs or questions, give me a call or send me an email. I’d love to hear from you!

The First Step to Buying a Home in Pittsburgh

curtbuchanan326@gmail.com (Curt Buchanan) — Wed, 6 Jul 2016 10:19:00 -0700

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Want to buy a home? Search all homes for sale.

When you begin the home buying process, it’s important to know that it’s all about the money. Most buyers get money for their homes through a lender. Before you even start looking at homes, you should talk to your lender and get pre-qualified.

The rule in real estate is those with the gold make the rules, so you have to fit into what the lender is looking for. Lenders will look at your credit, debts, and what you can afford to pay for a new house each month, including property taxes and insurance.

Lenders can also give you a pre-qualification, which is a letter that confirms you are able to afford a certain amount. For a pre-qualification, the lender will ask for basic information, like your debt-to-income ratio. You can present this letter to the seller when you make an offer.

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Go a step further and get a pre-authorization.

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You can also go a step further and get a pre-authorization. In this case, the lender has done everything; they’ve checked all your documents and you are pre-authorized to make an offer. This is much stronger than a pre-qualification.

Contact me and I will direct you to some local lenders who will give you competitive rates. Then, you can have your pre-qualification or pre-authorization letter in hand when you find your perfect home. With a pre-qualification or pre-authorization letter, you can make an offer even if it’s a Sunday afternoon and all the lenders are away at a barbecue!

If you have any questions, give me a call or send me an email. I would be happy to help you!

Your #1 Stop for Pittsburgh Real Estate

curtbuchanan326@gmail.com (Curt Buchanan) — Wed, 22 Jun 2016 08:40:00 -0700

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Hello, and welcome to my new real estate video blog! This is a resource to educate you about our local real estate market. To achieve this, I’ll be sending you two videos each month with tips for buyers, sellers, and even some really interesting interviews with community leaders.

Each video will be educational in nature and will also feature a professionally written article. If you have any lingering questions about real estate, please don’t hesitate to contact me. I may even make a video to answer your question! I am always open to future video topics.

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This is your #1 stop for Pittsburgh real estate information.

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Thanks for watching, and stay tuned for more great information.