Avoid the 4 Biggest Home Selling Regrets

When selling your home, there are a few things you should do in order to avoid the four biggest regrets a home seller can have. Those regrets are: 

1. Not getting the home ready for sale. You need to purge the house of clutter, clean countertops, and tidy up bookshelves in order to make the home look more presentable. 

2. Not touching up the paint around the home. A lot of the time you need to touch up the paint on doors, doorframes, or walls. You may need to paint an entire wall. Some sellers don’t want to take care of that but wind up regretting their decision not to paint once the home is on the market. 

3. Not taking care of the carpet. You should call a professional carpet cleaner to clean the living room, dining room, and master bedroom carpets at the very least.

4. Not taking care of the landscape. It’s all about the little details. Make sure you pull all of the weeds out of the driveway and flowerbeds. Trim your shrubs and bushes. These nice little touches can make all the difference in the world.

Taking care of all the little details makes your home more presentable.

If you are interested in selling your home, we will walk around the house and look for these items. You may not be able to list your home the very next day, but if you wait a week to take care of these details, you will get much better results. Remember, if buyers see a flaw, they’ll start to look closer; one flaw can easily turn into five or six flaws. It’s all about presentation.

If you have any questions, please don’t hesitate to reach out to me. I would be happy to help you!

What Do You Really Get from a Home Inspection?

Why is a home inspection so important?

As a buyer, a home inspection allows you to get a really clear idea of the condition of the property. We want to know exactly how the home is functioning in terms of the appliances, the hot water heater, the air conditioner, the roof, and the foundation, among other things. We want to know the overall condition of the home.

We'll get an in-depth look at the home's overall condition.

Since it happens during the option period, we will have the opportunity to go back to the seller and express our concerns. We can ask the seller to correct those specific items so that you feel comfortable moving forward with the purchase of the house.

I hope this topic is helpful to you. If you have questions about home inspections or any questions about real estate in general, feel free to give me a call or send me an email. I'd be happy to help.

The best time to enter the real estate market

Friends and clients,

I recently found an interesting article about timing the market on Zillow that I wanted to share with you today.

 

Usually, people buy or sell a home because of a major life event or for financial reasons. However, if you have the option of choosing when to enter the real estate market, there are a few points you should consider.

1. Every market is different. Just because the national news says that home prices are rising, homes are selling quickly, and multiple offers are common doesn’t mean that’s what is happening in your area. In fact, real estate markets can vary even within the same county. Your local agent will help you stay informed about market trends in your area.

2. Interest rates fluctuate. Most people need a mortgage to buy a home, so knowing what is going on with interest rates can only help you. Last year, everyone was predicting that interest rates would go up in 2016 when they have actually dropped! Again, your agent can help you by putting you in touch with a local lender to get the best rate possible.

3. Seasons change. Traditionally, spring is a strong selling season. However, today’s buyers are looking at homes online every day, no matter what season. Don’t try to time the market based on old assumptions about seasons. It is more important to show your home when it is in its best condition possible. Price your home right and it will sell, no matter what time of year you enter the market.

4. Money isn’t everything. There are practical and emotional factors to consider as well. You might qualify to buy a home now, but maybe you want to finish graduate school, or you don’t want an hour-long commute, or you want to stay close to your family. Do your research and take your time. The market will still be there when you are ready.

If you’re not sure where to start, give me a call. I constantly keep track of what is happening in our market, and I can help you decide the best time to buy or sell your home.

If you are thinking about selling your home, check out our free home valuation tool here.

If you are interested in purchasing a home, you can search the MLS here.

I am happy to answer any real estate questions you may have. I look forward to hearing from you!

Using Home Equity to Improve Your Quality of Life

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Selling a home? Click here for a FREE Home Value Report

Home Equity is back in the great state of Texas. In Texas, 87% of homeowners have equity in their home, but only 37% know it. I spend a lot of my time talking with sellers helping them understand that they do have equity in their home.

Why is having equity in your home a good thing? It’s important for several reasons. With only 37% of the people knowing about this home equity, the rest are missing out on a strong financial pillar they could use for them and their family. They can take out a home equity loan and use it in three major ways:

1. Pay for college.
2. Update your home. Kitchens always need updating. Ditto for bathrooms, bedrooms, fences, back patios, etc.
   “
   

   Your home equity can
   help you pay for updates or moving
   into a bigger house.

   
   ”
3. Move into a larger home. I’m currently working with two sellers who are going to take their equity and parlay it into their next property because the sizes of their respective families have changed. With interest rates holding steady below 4%, they’re able to take that equity and make it work for them by moving into a bigger house and moving into an area they want to be in.

If you have any questions about your equity, please contact me at (214) 801-1393. I’d be happy to sit down with you and go through all of these scenarios in detail and show you how home equity can work for you. Remember, who you work with matters.

What the Brokerage Services Form Guarantees You

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Selling a home? Click here for a FREE Home Value Report

Before we talk about the brokerage services form, please note that this and all other real estate forms are available at trec.texas.gov. I would recommend researching this website before talking to an agent so you understand the difference between the IBS (information about brokerage services), the listing agreement (what you would use when listing a property), and the buyer’s representation agreement (what you use when you’re looking to have an agent help you purchase a home).

Now, on to the brokerage services form. The main stipulations of this form include:

• The separate responsibilities between a broker and an agent. Namely, the broker is the one who holds your listing, while the agent is the one who represents you throughout the transaction.

• The requirement that all parties be treated “fairly and honestly.”
• The concept of an intermediary, or when the agent represents both the buyer and the seller in the transaction.
• How transactions should be handled and what information the agent should be communicating with you. If you’re working with an agent to purchase a home, that agent’s responsibilities are to share with you any material facts they specifically know about the home.
  “
  

  The brokerage services
  form states the duties of an
  agent required by law.

  
  ”
• The minimum duties by law that the agent is responsible to their client for. Above treating everybody fairly and honestly, they want to put their clients’ interests above their own. It’s important that they communicate that information to you so you’re aware of everything that’s happening in that particular property. They want to answer all of the client’s questions and present any offer to you and explain the ramifications of what’s listed in the offer so you have a full knowledge of what’s going on and can make a good decision.
• Disputes. It’s important to have everything in writing both from an agent’s perspective and from a buyer-seller perspective so everybody’s aware of what’s expected and everything’s in writing. This helps prevent any miscommunication during the transaction and also makes for a less stressful transaction.

I hope you found this conversation useful. Remember, trec.texas.gov is a good place to go for some good resources. If you have any further questions, feel free to call or send me an emai!l

How Jerry sold our house in 3 weeks when another realtor was not helpful.

"He was very quick, efficient, and knowledgeable. He sold our house in three weeks. He was always with us, and if we had any questions, we could contact him. He would answer very promptly. We had a different Realtor prior, and we had about six showings in six months, whereas with Jerry we probably had 12 showings in three weeks."

-Tara Elwell

How a CMA Helps You Sell Your Home in Northern Texas

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Selling a home? Click here for a FREE Home Value Report

One of the topics we get asked the most questions about by Northern Texas homeowners is the CMA. A CMA, or comparative market analysis, is used to get a valuation for a home you are thinking about selling. It comes up with the value by comparing it to similar homes that have recently sold in the immediate area.

When we do CMA’s for our clients, we take the number of bedrooms, bathrooms, living spaces, amenities, and any additional features into account. We then go out in the marketplace to look for similar homes that have sold within the last six months to come up with an accurate valuation for your home. This valuation is important because it lets you know the price of your home going forward.

“

A good Realtor can explain
the ins and outs of your CMA.

”

Many times agents will simply do a general market evaluation using recent tax data. Tax valuations tend to be a lot lower than your home’s true value (the value that you can actually sell for). It’s important for you to hire a dedicated Realtor who can help explain the ins and outs of your home's value, and find the best comparables for pricing.

If you have any questions or you’re thinking about buying or selling in Northern Texas, give us a call or send us an email. We’d be happy to hear from you.

Professional Photos and Videos Sell Homes

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Selling a home? Click here for a FREE Home Value Report

I wanted to take a minute to speak about the importance of professional photos and videos when marketing your home. It’s important for several reasons. 

There’s a difference between professional photos and standard photos; pictures shot by a pro bring out so many more interesting characteristics and show the buyer much more value. Potential buyers will place the value of the home on the photos they see.

“

Pictures shot by a Pro
bring out so many more interesting characteristics.

”

With more than 90% of buyers starting their search online first, you want to be sure you have professional photos and videos in your listing. Additionally, professional photographers have an eye for what buyers are looking for. Whether they’re shooting a living room, game room, or backyard patio, they know how to frame photos to get the most out of the shot and out of that room to display the value to the buyer. If we can communicate the value and get them in the house, then they’ll see that the house really does have the value that we communicated to them online. 

I hope you enjoyed this topic. If you have any questions, please feel free to email me. Remember, who you work with matters.

Four Ways Location Impacts Your Home’s Value

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Selling a home? Click here for a FREE Home Value Report

If you’re thinking about buying or selling in Northern Texas, you might be surprised to know how big of a role location plays in determining a home’s value. Here are four ways that having a good location can boost a home’s value:

1. Schools. Families seek out neighborhoods close to schools for obvious reasons. Living near elementary schools is especially ideal to parents who want to walk their children to school. From a value standpoint, a location close to a well-performing school is a good decision for a buyer. Living near these schools can increase a home’s value more than $200,000, according to CNN Money.

2. Being close to areas of convenience. This is also known as the “Starbucks Effect,” based on a study that showed living near a Starbucks between 1997 and 2013 saw homes appreciate by 95% vs. 65% for the rest of the country. Living next to grocery stores like Whole Foods and Trader Joe’s increases a home’s value as well.

“

Buyers are attracted to
homes in a quiet location.

”

3. Being close to freeways. Having a location close to a major freeway can be a huge value to home buyers who want to cut down on their commute. If the home is closer to a freeway, that equals a shorter commute.

4. A quiet location. Houses that back up to things like nature preserves, hiking trails, or a creek offer a serene setting. Many buyers are attracted to these homes. Houses on golf courses have the same effect.

We hope this information has been both beneficial and educational for you. If you have any questions for us or suggestions for future video topics you’d like to learn about, we would love to hear from you!

What’s the Difference Between Realtors and Brokers?

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Selling a home? Click here for a FREE Home Value Report

What's the difference between Realtors, real estate agents, and brokers.

A Realtor is a licensed real estate agent that belongs to the National Association of Realtors. It’s one of the largest trade groups in the entire country. They’re held to a higher set of standards and adhere to a code of ethics. Not all real estate agent are Realtors,  but most are. When hiring an agent, ask if they’re a licensed real estate agent.

Some Realtors can also be brokers. Unfortunately, people misuse these terms all the time. There is a huge difference between being an agent and being a broker. Brokers typically manage the office and take care of daily operations; they might even own the entire business. Agents work underneath brokers as sales people.

If you’re looking to buy or selling a Northern Texas home, give me a call or send me an email. I’d be happy to answer any questions you have real estate!

5 Tips to Prepare Your Northern Texas Home for Sale This Spring

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Selling a home? Click here for a FREE Home Value Report

 How should you prepare your Northern Texas home for a spring sale? Here are five things you need to do:

1. Staging the home.

Staging is important. First, examine the outside of the house. Make sure the grass is mowed and the shutters are in good shape. When buyers drive by your home, they should feel compelled to see the inside. To prepare the inside of your house, reduce clutter and depersonalize. Remove oversized furniture and personal photos. Staging the home helps them see it in the best light.

2. Take professional photos. 

Pictures are worth 1,000 words in real estate. 98% of buyers begin their home search online and we need quality pictures to attract them. Hire a professional photographer. They have the right equipment and the right eye to help your home stand out online. Studies show listings with professional pictures attract significantly more buyers compared to those without them.

3. Look at absorption rates. 

We compare your home to previously sold properties and others available on the market. This analysis indicates how long it will take to sell your property. Many sellers need to move into their new home within 60 to 90 days, so we can ensure you move on time as well.

4. Consider competition. 

Measure your house against what’s coming on the market and what’s currently on the market. We need to see how your property stacks up against the competition. Keeping track of comparable listings also helps us get the best price for your property.  

5. Explore exposure. 

We expose your home to the largest pool of buyers possible by using several different marketing strategies. We put our sign in the yard and list the property on the MLS, but we also add the property to our website and several others. We also have an incredibly strong social media campaign to attract as many buyers as possible.

If you have any questions about today’s video, give us a call or send us an email. We would be happy to help you!

What’s the Secret to a Smooth and Quick Loan Process?

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Selling a home? Click here for a FREE Home Value Report

Many buyers have been asking how long it takes to close on a home loan. Before we can answer that question, we need to dive into how the loan process works.

What type of loan is the buyer getting?

Are you getting a VA, a USDA, an FHA, or a conventional loan? There are a lot of different programs out there, and the length of time it takes to close on a loan varies depending on which you pursue.

Who is the lender, and are they local?

You want to have a local lender so that you can physically meet with your loan officer, deliver paperwork, and get immediate responses to questions you might have. There are many documents you’ll need to share with your loan officer. Doing it in person is the most secure and the easiest way to do that.  

What is the lender’s track record?

Most lenders will be rated, so make sure you don’t hire someone with a weak track record. We recommend hiring someone who was referred to you, or sitting down with your real estate advisor and having them recommend a few. That way, you can interview a few loan officers and select the one you’re most comfortable with.

What is the turnaround time for the loan?

A good lender will be able to give you an estimated time,  from the time they get all the paperwork, get the file complete, and turn it over to underwriting, to the time it will take to close. Most lenders have a timeframe for each loan, so they generally know how long it is going to take.

What is the turnaround time for the appraisal?

All lenders have to use an outside vendor to do appraisals, and you want to have an estimated time to know how long that appraisal is going to take.

What can you do to help the process go smoothly?

Whenever a lender reaches out to you for additional documentation, it’s important that you respond quickly. When they ask for more information during the process, it’s probably because the underwriter has requested it. The sooner you get information to your lender, the faster and smoother the process will go.

If you have any questions about this topic, or if you have real estate questions of any kind, don’t hesitate to reach out to us. We’re here to be your Northern Texas real estate resource, so we would love to hear from you!

Should Sellers Be Present When Buyers Are Looking at Their Home?

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Selling a home? Click here for a FREE Home Value Report

Today we are answering one of the questions we get asked all the time by home sellers. The question is, “Should I be present when my home is being shown by an agent?”

The short answer to this question is no, you shouldn’t. When you’re showing your home to a potential buyer, you want them to feel as comfortable as possible. If you’re there during the showing, it creates what we call “showing resistance.”

This results in buyers being uncomfortable in the property, and not asking any questions or making any comments because they don’t want to insult your home. If you are there while buyers are viewing your home and they do make a comment, you’re going to have a tendency to want to argue or combat the comment. That’s not going to do you any good because all it’s going to do is drive away buyers and lose offers.

If you have any questions, don’t hesitate to give us a call or send us an email. We’d love to hear from you!

How Jerry Conklin helped us sell our home for the price we wanted when another realtor wouldn't.

"He helped us sell our house, and he is helping us find a new house. But in regards to selling the house, he was extremely professional, he was very, very knowledgeable. We were going to use someone before him,  and the woman that came in said that she couldn't sell the house for what we were wanting to sell it for and that there was no way we would get that amount of money. Jerry came, so we told her no thank you we didn't want her. Then we reached out to Jerry and he came and shared some numbers and he was able to get us exactly what we were asking for or wanting for our house. So, he was great. We had one lady who expressed interest and she put down money for the first 10 or 11-day period. I don't know the terminology, she had put that money down, but ended up backing out. So that was money we got to keep. He came on a weekend, in the rain, and brought us that check. I thought that was really cool because he didn't have to do that. One really cool thing was when I got locked out of my house one day, and my husband was out of town, and Jerry drove all the way, he wasn't even in town, he drove all the way over to get the key out of the lock box for me so I could get into my house. He was very kind and gracious about the whole thing. So, that was really cool."

-Dee Jones

Which Is Better - Buying a Home or Investing in a 401(k)?

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Selling a home? Click here for a FREE Home Value Report

Is buying a home better than investing in a 401(k)? Today, we’ll go over some of the pros and cons of  purchasing a home of your own compared to investing in a 401(k).

Pros

1. Your housing costs will be locked in. Other things in your budget will fluctuate month to month, but this will be consistent in your budget.
2. Owning a home is great for savings. Owning a home helps you create a budget and stick to it on a monthly basis.
3. Great tax advantages. As long as you own the home, you will get those tax advantages.

Cons

1. You will tie up some assets. Maybe you don’t want to concentrate all those assets in one place.
2. You will have monthly or yearly expenses to pay for. Take things like lawn maintenance and repairs into consideration. Maybe you’re not prepared for those yet.
3. Your stress can get in the way. Buying a home can be an extremely stressful process.

These are just some of the pros and cons you should consider if you’re thinking about contributing to a 401(k) versus buying a house. Ultimately, it depends on your individual situation. Some buyers opt to go $10,000 or $15,000 below budget when they buy a home so they can still contribute to a 401(k).  If you have any questions, give us a call or send us an email. We would be happy to help you!

How Jerry Conklin made himself always available, even when it was not convenient.

"We ended up moving into our house and it was a smooth transaction. He was always there, even at inconvenient times. Whenever I called him and we needed to look at a house, he always make himself available."

-Tara Davis

How Can a Home Deal Quickly Go Sour?

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Selling a home? Click here for a FREE Home Value Report

Today we are going to go over 6 different ways a home deal can go straight to hell. A home deal is fragile, and skipping out on one important step of the process could have major consequences down the line. Here’s what you should avoid when buying and selling:

1. A change in credit score. After you’ve gotten a pre-approval, you don’t want your financial situation to change much, because it stresses the entire process out.

2. Problem with inspections. Don’t get spooked by anything having to do with the inspection. Let’s look at the big items and work through those first. Doing this can help the entire process

3. Not getting pre-approved. This is a very important step in the process for two reasons. For one, it shows the seller you’re the right buyer and, secondly, lets you know what houses are in your budget range.

4. Blowing small problems out of proportion. This is where communication really comes into play. It’s a very stressful process, but with open lines of communication, everything is easier.

5. Running out of money. Before you begin the process, you should have an idea of what you need for a down payment, an inspection, and any other costs associated with the buying process. Good communication can help with this as well.

6. Cold feet. There’s not much an agent can do about this except finding out if there is a bigger issue. The normal closing period is 30 to 45 days, so take your time to really think about the decision you’re making.

I hope these tips have been valuable to you and good information for you to think about. If you have any questions, please give us a call or send us an email. We would love to hear from you!

How to Find the Right Home in Northern Texas

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Selling a home? Click here for a FREE Home Value Report

When buying in Northern Texas, it's absolutely crucial distinguish what features you want in a home from what features you need.

With over 90% of buyers looking online first, they have a good understanding of what they want in a home. When we work with buyer clients today, we counsel them to look at their current space and ask how they're using that space. We then tell them to envision how they want to use their new space.

People who are moving from an apartment into a home use space much differently than people who have lived in a home for years. Move-up buyers also have special needs for space, as they are looking for more of it for various reasons. You as a buyer need to come up with a list of what's important for your new space.

Once you figure out your space needs, think about the location of the home. How close do you want to be to work? Do you want to live close to a park or in a great school district?

Let your agent know exactly what you're looking for in a house so they can go out and find homes that match that criteria. Once you start looking at homes, your list might change a bit. That's fine -- most buyers change their minds on certain things throughout the process. A good agent will accommodate those changes and help you find the home of your dreams!

It's important to find a home that you love, as the average American lives in their home for nine years. Let us help you find that perfect fit for you! Give us a call or shoot us an email at any time for the real estate assistance you deserve!