AboutMary Mahoney Expertise My area of expertise is helping buyers and sellers with the purchase and sale of property. Specifically, I deal with mostly with the older homes in Denver Metro and Golden neighborhoods. The company I work for is called Nostalgic Homes. I have extensive knowledge of all of the neighborhoods in these areas and can make excellent recommendations to fit my buyer's lifestyle and needs, whether they are looking for an already established neighborhood, or are interested in obtaining property in an up and coming area. Since the majority of the homes that I help buyers with are dated between 1860-1945, there can be various expensive items that an agent should pay close attention to, besides the obvious cosmetics. While many older homes have already been updated throughout the years, it's important that I am able to bring to my buyer's attention plumbing, electrical, sewer line, roof, structural, and other major systems that may or may not be in good condition. This gives my buyers a much better sense of what kind of 'fix-ups' that will or will not be in store for them after they make their purchase.
When assisting my sellers, in any market place, but especially now, it's important that sellers understand and know what to expect. I do extensive current market research of the neighborhood and area to inform them of how many days they can expect their house to be on the market, the best price they can achieve, given the current condition of their property, any fix-ups they can do to help achieve a higher price, and instruct them on how to stage and prepare their home for the public so that they can achieve the best offer with the shortest days on the market.
Experience I have been investing in real estate since I was 25 years old and own several properties. I've lived in Denver proper for the last 20 years. I have held a certified real estate license for the last 8 years and have been selling real estate full time since.
Organizations Denver Board of Realtors
National Association of Realtors
Education/Credentials My actual degree is a Bachelor of Fine Arts. I worked in this field for several years after college, before my love of real estate developed. As a licensed Realtor, I have taken a code of ethics, assuring all of my clients that they are treated fairly, with respect and knowledge of the field that of my expertise. I continually advance my knowledge of the field by taking many different courses that the Denver Board of Realtors offers each year to stay abreast of current and upcoming market conditions and certain problems to stay aware of to keep my clients fully informed as real estate changes.
Past/Present Clients Can provide a list of names, numbers and emails of current and past clients upon request.
Expert: Mary Mahoney Date: 9/9/2007 Subject: Buyers Agent? and Home Equity Loan
Question #1. What are the advantages/disadvantages to hiring a "Buyer's Agent"?
#2. I am looking for a vacation home in Cozumel Mexico. I live in Colorado. My home in Colorado is worth $400,000 min
and is paid for (no mortgage). I have excellent credit and no debts. Is is possible to get a home equity loan to purchase the property in Mexico?
Answer I'm not sure what the scenario is like in Mexico, but typically, you are more than likely going to be dealing with a management company, or developer (if new build), on the purchase of your vacation home. They will be able to step you through the process of making your purchase, but they will not be advising you on how you can get the best deal on your place. The advantages of working with a Buyer's Agent (if they have such a thing there) is that they would be working to locate the property for you to buy, and advocating for you during the transaction (not just helping you with the legal paperwork of what it takes to acquire a property.) However, not all countries operate the same as in America, so I would find a place online and make an inquiry about that. If you can find a Buyer's Agent down there, I think it would benefit you, as long as you are not required to pay a commission. Typically the Seller pays commissions for both the Buyer's agent and the Selling Agent.
Yes, you can definitely use the equity on your current home that is paid for for your downpayment. You can figure for every $100K you borrow, and if your interest rate is 7%, your payment would be $700 (without HOA, ie. Home Owners Insurance and taxes.) Borrowing $150K? $1050.00/ Mo.
My sister just went through the process herself last month, and it was quite easy. They did not have a Buyer's agent, but just went with the HOA company that manages it.
Does that help?>
