Buying your first home can be both an exciting and a scary experience. Many homeowners are appreciative of any bit of information that would help make the process less stressful and as painless as possible. Home insurance is usually a major contributor to the anxieties new homeowners’ experience. They are often confused about how much insurance they need. This post will give easy tips for choosing the best insurance for new home buyers.

Your House Should Be Fully Covered

The coverage on the insurance policy should reflect an amount that can adequately take care of the cost of rebuilding and refurbishing your entire house in the event that you lose it completely. Insurance companies may use a cost estimator to ascertain the cost replacement estimate, but you can have a home builder assess your home and furnish you with an estimate of the rebuilding cost. This should include the unique and/or expensive details of your home (if there are any). You do not want to end up being underinsured. Once you have the estimate for rebuilding, you will need to figure out which coverage to take. The choices are:

• Guaranteed Replacement Cost Coverage – The insurer bears the cost for the rebuilding your home in spite of that cost. Very few insurers are offering these policies now.
• Extended Replacement Coverage – This coverage involves the capping of the payout you would receive to approximately 125% of the insured value of your home.
• Inflation Guarantee (or Guard) – This is a feature that ensures the insured value of your home stays on par with that of the marketplace.

Strive to get a reliable appraisal and extended replacement coverage along with an inflation guarantee. These will place you in a good position.

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I was in Panera Bread the other day for lunch and overheard a conversation from the neighboring table. One lady mentioned how she just listed her house for sale. Her friend eventually asked, “What made you go with that (real estate) company?” The lady said, “They do the most advertising in the newspaper.” Although not surprised, I did find this amusing.

Many people are still under the impression that newspaper and other forms of print advertising are effective or even necessary in the sale of a home. I can tell you with 100% certainty that print advertising is NOT necessary to sell a home.

A Good Example

One of my agents just sold this wonderful home at 5318 Avenida Del Mare on Siesta Key, Florida. We didn’t need to do any print advertising to get this home sold. This home sold for the following reasons:

• We mobilized the Realtor community and made them aware of this home via the Multiple Listing Service (MLS).
• We found the right asking price to get buyers interested.
• The listing and selling Realtors worked diligently to get the transaction closed.
• Our marketing plan was more thorough than what is listed above. However, at the end of the day the MLS, the right price and good Realtors are what got the job done.

Where Do Buyers Look For Homes?

Of course newspapers generate buyer calls and thus ultimately causes some properties to sell. However, it is probably not as much as you think.

The National Association of Realtors compiles data every year and issues a Profile of Home Buyers and Sellers. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.

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Part of a home buying experience is working with a buyer’s agent. Choosing an experienced and knowledgeable agent who specializes in the neighborhoods you are interested in buying is important. A good agent is considered someone who puts their buyer’s needs first by returning the buyer’s telephone calls or emails promptly, keeping the buyer advised of new properties that meet the buyer’s needs and criteria and negotiates the best terms and price for the buyer when the buyer decides to make an offer and purchase a property.

When an agent fails to deliver good service and the results the buyer is hoping for, or there is a personality conflict between the buyer and the agent, the buyer may become unhappy with their agent’s services and may wish to terminate the relationship. The buyer is free to terminate the relationship at any time, providing the buyer has not signed a formal written buyer’s representation agreement. However, there is a sense of moral obligation that may cause the buyer to decide to extend a courtesy to the agent by either emailing, calling or writing the agent and letting them know that they wish to terminate the relationship and the reasons why.

Buyer’s Representation Agreement vs. Agency Disclosure Agreement

Signing a buyer’s representation agreement should not be confused with a signing an agency disclosure form. An agency disclosure form is simply a disclosure and acknowledgment between the buyer and the agent regarding the agency relationship owed to the buyer and should not in any way be considered a formal contract of employment between the buyer and the agent.

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Mobile apps mean you’re a thumb click away from finding almost anything – even your next home. The other day I read an article about how mobile apps on your Smartphone can be used for buying a home (or just checking out a new neighborhood). These realty apps aren’t new and don‘t seem to be going away, but then I got to thinking: Do I really want a mobile app to choose my next home for me?

Deciding on where (and whether!) to buy a home is lot different than, say, trying to find where the best place in town to eat a hot dog is. Sure, you could use a mobile app to find out about a new neighborhood, but it doesn’t replace actually having a “real” real estate agent to show you around the neighborhood. That’s why new homes are usually sold offline and in person, with an agent who knows the area.

The benefits of a (real) real estate agent outweigh the realty app’s benefits every day of the week. A real estate professional agent can do more for you as a home buyer than an app that says “you are here.” What, you ask? Read on – here I’ve listed 6 benefits of using a real estate agent to help you buy your home:
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A picture is worth a thousand words. The importance of the photographs in a real estate listing can’t be underestimated. The primary image must stand out among the page after page of listings a potential home buyer is likely browsing through, and the additional photos must motivate them to schedule an appointment to see the house in person. Images help make that emotional connection and make a property look like “home”.

Here are a few ideas to make your listing photos unique, and hopefully get the attention of home shoppers:

1. Highlight Details. Does the home have a beautiful custom sink in the kitchen, architectural detail in an archway, or gorgeous drapery that stays with the home? They could be missed in a shot of the entire room. Take close up photos of the most special details in a home.
2. Night Lights. If the property is well lit in the evening try a picture at dusk or even after dark. The glow of landscape lighting can be beautiful and something home shoppers would miss if viewing the home during the day.
3. Include The View. Pictures of the view from a deck or porch are common when they include water, mountains, or city skylines, but think about showcasing even a less remarkable view. Can you see a nice garden, the lovely homes across the street, or attractive greenery? The more positives you can show a home shopper the more likely they are to put the home on his or her short list.
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HomeGain offers rebate for buying or selling a home with a HomeGain referred agent through its Find a REALTOR® program

Today we announced our latest promotion for home buyers and sellers, the HOMEGAIN150 promotion. Eligible home buyers and sellers can qualify for a rebate of up to $150 when they register on HomeGain and use a HomeGain referred agent to complete a real estate transaction by September 30, 2011.

Registration for this promotion must take place between November 11, 2010 and June 30, 2011.

Read the full details, including terms and conditions, here.