inside
costco
Costco
Services and
LendingTree
WITH COSTCO’S LendingTree program, Costco members work with a certified,
local real estate agent and
receive a generous cash
incentive after buying and/
or selling their home.
Costco members who
finance their home purchase
through the Costco and
Lending Tree Mortgage &
Refinancing program
receive exclusive interest
rate offers.
PHOTODISC
Limited-time
Wallet offers
See below for additional
savings offered on mortgage,
refinancing and real estate
through Costco’s Wallet
coupons (submit January 2
through March 30, 2008
and use reservation code
304-14 to be eligible).
A smart look at real estate
Buyer’s market? Seller’s
market? Practical tips to
guide your realty plans
ing. For example, a Costco member using the program would receive a $2,250 rebate after purchasing
a $300,000 home.
■ Mortgage &
Refinancing program
Executive Members receive
a $450 Costco Cash card
(normally $300) from
Lending Tree after closing.
Gold Star and Business
members receive a $350
Costco Cash card (normally
$200) from Lending Tree
after closing.
By T. Foster Jones
THE WORLD OF REAL ESTATE is often a lot like
the stock market. Buying and selling at optimal
times so as to make the most money, or get the most
for your money, requires research, foresight and,
sometimes, just plain luck.
If you’re buying a home
Currently, luck is with those looking to buy, as
the real estate market enters a cooling phase. What
does that mean for you?
✓“Buyers have a significant advantage in a
strong buyer’s market because sellers are more willing to negotiate,” says Bernie Deckys, a manager of
Costco Real Estate Services. “There are many more
homes for sale, they are taking longer to sell and sellers are reducing prices and more frequently paying
a portion of closing costs.”
✓However, just because there may not be as
much competition, don’t think you can lowball a
seller. It won’t work, say the experts. “Offending a
seller will most likely cause them to not want to
negotiate,” says Bernie. At the same time, he says,
don’t be afraid to ask for a few extras: “In a buyer’s
market, you don’t have to accept worn hardwoods,
cracked tile or an old roof.”
✓Listing agents may be willing to work for less
than the traditional 3 percent, depending on the
local market. Ask. As a home buyer with Costco’s
Lending Tree program, for instance, you’re already
ahead of the game, as Lending Tree rebates a portion
of the purchase or sale price back to you after clos-
■ Real Estate program
Executive Members receive
a $250 Costco Cash card
(normally $100) from
Lending Tree after closing.
Gold Star and Business
members receive a $150
Costco Cash card (normally
$50) from Lending Tree
after closing.
If you’re selling a home
The world hasn’t come to an end. Really. As a
seller you just need to follow a few basic rules.
✓Boost your home’s curb appeal. Surveys indicate that a clean house with cosmetic upgrades such
as fresh paint and flowers can help form a much
more positive first impression. “Eighty-four percent
of home buyers use the Internet to search for
homes,” says Bernie. “One-third of home buyers use
the Internet first, before any other source.” That
means that people are making decisions whether to
even drive by your home based on how it looks in
video, virtual tours and photographs.
✓If your budget allows, invest in bigger
improvements. The National Association of Realtors
found in 2007 that 59 percent of home buyers
remodeled or made improvements to their homes
within three months of purchase. Forty-seven percent made improvements to the kitchen, another 45
percent remodeled or improved a bathroom and 43
percent remodeled a bedroom.
In other words, these are the key rooms when
you’re preparing to sell. Focus on fixing up those
“make or break” rooms.
Costco members who sell their home through
the Lending Tree program can also receive a rebate.
For more information,
visit costco.com and enter
“real estate agent” in the
Search box. Or, to talk to
a Lending Tree expert, call
1-800-237-3806.
Know your market
Finally, whether you’re a buyer or a seller, don’t
assume that because the national real estate picture
has gone cold, it’s that way where you live. Many
markets are doing just fine. Check
www.ofheo.gov,
the Web site of the Office of Federal Housing
Enterprise Oversight, for quarterly reports on house
price appreciation trends in 275 markets. C
