Fall Leaves and For Sale Signs

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Summer has come to an end and you probably are thinking you’ve lost the opportunity to sell, and need to wait till next summer. But that’s far from the truth! Although it’s not as hectic and crazy with the swarm of buyers on the market, the fall season brings out the most serious of lookers. They are the pool of buyers that waited out the summer frenzy to find their perfect home in the fall, and you don’t want to miss these buyers– they are ready to make a move, today!

Selling in a slower period does not equate to less money. That’s a misconception that homeowners have based on untrue data that floats around. With the right agent, and your home priced correctly, you can get a great deal selling your home during the fall season. And might actually prefer it. Here are the top 3 benefits to listing during the fall season.

1. Serious Buyers – Let’s be honest, if buyers are out during the busy season, looking for homes, they may not be serious and ready to buy. Although the summer brings in a large crowd, that crowd contains a lot of people that are excited by the prospect of looking, and fall into the “trend” of house hunting. These people end up not really being serious about the process and tend to hold off for another time. If people are investing time to look during the fall season, they are more likely to be interested in actually buying your home, instead of touring it.

2. Less Competition – Selling in the fall isn’t something many families can accomplish due to personal schedules. That’s why a significant amount of homes get listed during the summer season. Which means that summertime brings in a lot of competition. Selling in the fall means the potential house next door that has slightly more perks is no longer the competition. Less competition means that there is no devaluation to your home because of the house next door that could be under-priced in your neighborhood and draw all of the attention.

With a slower season, you get dedicated attention to your property, which increases the chance of a sale.

3. Easier to Find Your Dream Home – Not only do you get to benefit from a slower season during the selling process, but you can also benefit on the buying side. With less competition on your dream house, you can get a better deal. The summer brings a lot of missed opportunities for buyers on their dream homes because they go off the market instantly. This will give you the opportunity to get your home on the market and take your time to find the right one to resize into. A much calmer pace to the transaction will make it less stressful, and everyone all around happier. Don’t feel rushed into buying a home overnight during the summer, it could turn into a headache. If you want a far more peaceful transaction, that has calmer pace, then selling during the fall is perfect for you.

Three Questions to Ask Before you Buy

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Are you ready to own a home? The real estate market is constantly changing, so of course, DO YOUR RESEARCH! Don’t jump the gun on this one. Unbiased advice from family and peers may be kind, but you are the only one who knows what your needs are when it comes to buying a home.

Here are some great questions to ask yourself before making the plunge.

 

WHAT MADE YOU CONSIDER OWNING A HOME?

Forget finances for a minute and focus on what made you consider even buying a home in the first place. Here are a few “why” questions to ask yourself:

  • Is your family expanding?
  • Does your family feel safe in your current area?
  • Is there a STELLAR school system in the area you want to move to so your children can get the education they deserve?
  • How about that unbearable landlord and rising rent prices? How long can you afford to see rent go up?
  • Do you want a space to make your own?

Your motivation for buying is important. Your “why” can keep you focused, strategic, and on task during a process that can sometimes be daunting.

 
WHICH WAY IS THE REAL ESTATE MARKET GOING?

DON’T SLEEP ON YOUR DECISION TOO LONG! Home prices are on the rise. Not only are they on their way back up, but these increases are happening monthly.

According to Existing Homes Sales Report from the National Association of Realtors (NAR), the average price of homes in May 2017 went up 5.8% from last year. With the 1.3% drop in home sales in July 2017, this fall may be a perfect time to buy a home.

If you wait until next year to buy, you might be digging for change in the cushions and under car seats! Not only will it cost you more to buy, but you will also need to increase your down payment to account for the higher price of the home.

 

WHAT IS THE MORTGAGE FORECAST?

The initial process of purchasing your home may seem easy and quick, but there is a lot to the process! The ‘long term cost’ of buying a home can and will haunt you if you buy at the wrong time. Mortgage Bankers Association (MBA), and NAR have projected that mortgage interest rates will DEFINITELY increase over the next twelve months. The smallest increase in mortgage rates can have a huge impact on a home owner.

Talk to a mortgage specialist before any big decisions. Your real estate agent should have some great suggestions on people who are wonderful!

 

FINAL THOUGHTS

If you and your family feel it is the right time to buy a home then go for it! Finding a Realtor ™ to help out is important as she/he will have up to date information and great advice.

You can’t go wrong with owning your dream home, no matter what it looks like!

 

Don’t Replace Your Agent Just Yet!

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With the influx of new technology and web based solutions, it isn’t a surprise that everything is moving fast into the era of the internet. From sites like Uber to GrubHub, we generally can pull up our phones or laptops to order what we want with ease. And with every industry being revolutionized by technology, the same methods are “attempting” to be applied to the real estate industry.

We could all agree that the simplification of the process through paperwork would be much appreciated by agents and buyers/sellers alike, but the attempt of replacing the agent by sites like Zillow and other third party resources can lead to a snowball effect of disaster. Think about real estate being smack dab in the middle of fast food and a doctor. You can use your mobile device to quickly place your order for a $20 meal, but when it comes to getting a surgery, you’ll want to put that phone down and visit a professional. Now think of your real estate agent being in the middle of all of that. You can use your devices to look for a home, look at market data the way you look at WebMD, knowing not to take it too seriously because you need a real professional’s input, but it’s fun and gives you a general idea of what to expect. But there in lies the issue, the data online is an oversimplified version of what goes into the process of buying and selling. The same way it oversimplifies medical diseases and surgeries, you’d still expect to get a professional’s diagnosis.

Although a real estate agent isn’t quite like a doctor, the industry in its legalities, contracts, and processes is similar in the sense that it needs to be taken seriously. Looking for a house online and wanting to put an immediate offer on one can be exciting and fun, but the issues that require a professional’s guidance comes after the initial contract is written up and the hard work comes into place to actually make the home your own. Same for sellers, if you decide to put your home on the market and want a website that will give you an automatic offer, how do you know you’re not being taken advantage of in the price? But most importantly, how do you know you’re not being taken advantage of in other aspects of the contract? Because there is a lot more to the sale of the home than just agreeing on a number.

The next time you’re digging through public sites for homes for sale, and getting instant home valuation estimates, keep in mind that this is a simple process to give you an idea of your market. A very general idea. But after you’ve found the perfect house, or after you’ve decided that the numbers make some sense for you to sell, call your favorite real estate agent and make sure they give you a more detailed look at the market and assist you through the full process, not just the exciting first parts. Because it’s going to be in the middle of a contract when the lending is falling apart, or negotiations can’t be made on repairs and emotions are at an all time high, that you are going to wish you had put down your laptop and had an agent fighting for you by your side. Use the internet, have fun with its amazing resources, but don’t let it replace your agent. We aren’t in an age, just yet, where technology can do everything a good professional can.

6 Reasons Your Home Won’t Sell

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Are you ready to sell your home and want it to have a great first impression on the market? Or maybe your home has been listed for a few weeks or months, and you can’t figure out why it won’t sell, and you know your agent is working hard to market it. We’ve listed below the top 6 reasons your home may not make a good impression and end up stagnant on the market.

1. IT’S OVERPRICED

To be clear, an overpriced home is the #1 reason a home won’t sell. We often times want our homes to be worth a lot more than we may see based on the data, but if you put your home on the market for the number you wish it will bring instead of the price it actually needs to be, your home can sit on the market for months without getting a single showing. If you’re thinking you need to price high to leave room for negotiations, statistics show that views for your property, for buyers in your price range, can drop a whopping 90% if it’s priced too high. Discuss with your agent what the market says the value of your home is, then price it competitively to potentially get a bidding frenzy instead of low offers or having it expire.

2. LOW SHOWING AVAILABILITY

Making sure the house is clean and having to leave on a daily basis for buyers to tour the home may get a little overwhelming, but it is crucial to have open availability to have your home shown. You could end up missing out on the perfect buyer if you decline too many showings. The longer it sits on the market, the less value buyers will see in it. Talk with your agent about having a 24 hour notice period if the extra time is needed, but make sure your home is available to be shown as often as possible.

3. CLUTTERED SPACE

Buyers want to walk into a house and envision their lives in that home. This is difficult to do if your home is cluttered with personal belongings. They are instantly given the feeling of invading someone else’s personal space, instead of the satisfaction of being able to see a future in your home. Make sure your property is clutter free before putting it on the market; and store away any family photos.

4. UNPLEASANT ODORS

If you smoke or have pets, it’s easy to get used to the smell to the point that you don’t even notice it anymore. But it’s important to understand that the scent can be picked up by new people visiting your home, and it can really turn them off from making an offer. Before a showing, make sure to dispose of any garbage, don’t cook fish or other strong smelling food, and ensure the home is freshened up so there are no pet or smoke odors.

5. UNWILLING TO MAKE REPAIRS

Selling your home as-is may sound appealing at first, but being unwilling to make repairs could cost another mortgage payment that far exceeds the cost of repairs if you refuse to work with the buyer on their requests and the home goes back on the market again. It’s wise to be open to repair requests, and simply go over with your agent what you can afford to do and make a reasonable counter offer during the repair negotiations. 

6. UNWILLING TO NEGOTIATE WITH BUYERS

It’s important to have an open mind about requests that will come from buyers when it comes to purchasing your home. These requests can come in the form of price negotiations, repair requests, or even requests to cover closing costs or home warranties. With your agent on your side advising you of the best steps to take, it’s best to be open to working with the buyers on some of their requests to ensure a successful closing.

Debunking Myths To Home Buying

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Finally ready to make the transition into home ownership? That’s awesome, and in this exciting time, you can be turning to friends and family for an insight into the process. However, there seems to be a circulation of misinformation spreading around, so let’s clear up a few myths.

Myth 1. THE FIRST STEP IS SEARCHING FOR A HOME

You know the saying, “Don’t put the cart before the horse,” well that’s important to remember when it comes to buying a home. You don’t want to start looking for a house until you have gotten to sit down with a lender and discuss what the bank will qualify you for. If you fall in love with a house that’s $250,000 and come to find out you’re only qualified for $200,000 you can get your hopes crushed and waste a lot of time. Don’t start the process on the wrong foot and make sure the numbers line up.

Myth 2. YOU DON’T NEED A REAL ESTATE AGENT

For starters, when buying a home, 99% of the time the buyer’s agent gets paid by the sellers. That random 1% can be for odd circumstances. So you’re getting to use the services of a real estate agent for free. Having a real estate agent on your side means you’ll get to see homes that aren’t as readily available on public searches, you avoid outdated listings and scammers (there are lots of them), and you have protection when it comes to navigating the legalities of contracts and buying a home. Why wouldn’t you want an awesome negotiator working to ensure you get the best from the transaction? For FREE!

Myth 3. YOU CAN’T BUY A HOME WITH BAD CREDIT

Fortunately for some, this is a myth. Lenders and banks come by the hundreds of thousands and all though there are a few loan options, a lot of lenders can work with credit scores down to the low to mid 500’s. Get in touch with an agent to help you connect with the right lender who can help you potentially approved. There is a lot of factors that go into approvals, but your credit doesn’t have to be a sore thumb during the process. However, you will be doing yourself a favor if you connect with a credit repair specialist to at least get those numbers in the 600’s. A better score will lower your interest rate.

Myth 4. YOUR DOWN PAYMENT HAS TO BE 20%

Think you have to sell an arm and a leg to buy a home? Not at all! An FHA loan only requires 3.5% while a conventional only requires 5%. There are a lot of programs that can potentially help you with down payment assistance or be 0% down mortgage. USDA and VA loans are the most popular 0% down programs. If you qualify, this can take a big chunk off the amount of cash you have to bring to the closing table.

Myth 5. DOWN PAYMENTS ARE THE ONLY UPFRONT COST

This is one of the biggest misconceptions. There is a lot of cost that goes into buying a home, and that includes some upfront costs. One of the mandatory ones is an appraisal. If you are getting a mortgage, the home will have to appraise. An appraisal can range from $300-$700 dollars. Aside from your down payment, you then have to pay for closing costs. And NO, closing costs and downpayment are not the same thing. Closing costs can range anywhere between 3-6% of the purchase price. In certain markets, this can be negotiated for sellers to cover by rolling into the offer price, but whether that decision is smart to do or not when it comes to landing your dream home will need to be discussed with your agent.

Now that you have some knowledge to get the process started, get in touch with an agent who will help you get through the process as smoothly as possible.

Please come in! Some thoughts on Open Houses

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Open houses are an integral part of selling a home but also a nice part of driving around on a Saturday and scoping out a neighborhood. People visit open houses for all sorts of reasons and that is perfectly fine! But, as a realtor, there are just a few things I would ask you keep in mind.

Yep! I am going to ask you ALL the questions — Look, I am not here for my health….I am here to sell my client’s house. So yes, I am going to ask you a lot of questions but please, don’t freak out. Most agents giving an open house will ask a few questions of everyone that walks in the door. Here are some popular ones:

  1. How long have you been shopping for a new home? — This is for us to know how serious you are about buying. If the answer is “I am just here because I saw the sign and was curious” great! Look around all you want and I will probably ask you what your impression of the home is when you are finished. If the answer is “We just began looking and like the neighborhood so dropped in” also great! Knowing a little about what a neighborhood can offer is a great place to start….but I am going to follow this up with:
  2. Are you already working with a real estate agent exclusively? — Here is the thing….I’m not asking this so I can immediately pull out a contract and ask you to sign in blood so you are beholden to me for all the rest of your days….I am asking this because I don’t want to be a jerk. Real estate agents respect other agents and would rather not break a few understood rules, and a major one is “thou shalt not steal another agent’s clients.” or “don’t be a jerk!” If you are working with someone, awesome! I will probably ask you who so I can call THEM to get your feedback on the home. If you are not working with anyone, then yes of course I would love to be your agent, but please see my last post here. I don’t believe in anyone just willy-nilly signing a contract but I will try for your business and hope that you decide to work with me!
  3.  How do you feel about the price? — Hey, I get it, we were all told early on that you never “let ’em know you like it” when negotiating. The old trope that you are a sucker if you let on that the price might be fair doesn’t exactly work here since the owner of the house, NOT the agent, makes all decisions on offers. I mean, yes be discreet about your financial situation and don’t loudly announce to other buyers that you might be making an offer but I would love a thoughtful answer if you can. If you are a neighbor just dropping in, let me know you haven’t shopped enough to know. If you truly think it is overpriced, let me know what you have seen in other houses in the area to back that up. If you think the price is completely fair, awesome! It is always nice to know I am doing right by my sellers. 

Please feel free to ask ME all the questions — Heck yes you should have a list of things you want to ask an agent at an open house! Heck no you are not bothering us! If you are truly  interested in the house, make a list of those things that are important for you to know before making an offer. Some good ones to keep in mind:

  1. How long has this property been on the market? — Yes, you can ask your agent or do the research yourself BUT a great thing about asking the selling agent is that we can put some context to the information. Has it been on the market for a few months in a super hot area? Maybe the sellers had an offer fall through and you are just in time! Did it just go on the market this week and maybe already has 5 offers today? That will help you to decide how badly you want to make a competing offer. 
  2. How much do utilities cost? — Okay fellow Coloradans, I know you are with me here. There is a huge difference between winter and summer water bills in this area since we tend NOT to water our grass when it is snowing. Knowing what the bill might look like before you decide on two acres of beautifully manicured lawn might be the difference between filet mignon and mac n’ cheese. Knowing that the heating bill is astronomical might clue you into the fact that the beautiful historic house you are looking at needs new windows real quick like. This can be a goldmine of information and help on that “should we make an offer?” question.
  3. What can you tell me about the neighbors/neighborhood? — This is a great place to start to get a feel for the neighborhood. Kid friendly? A lot of paths for long dog walks? Minutes to the best sushi place ever? If you are lucky, one of those neighbors might just be looking at the open house at the same time. I think it is fantastic when a neighbor can tell a prospective buyer how wonderful the neighborhood really is, after all, they are the ones who live in it daily. 

Last but not least, please be respectful. You are touring another person’s home and it is important to take care. If your shoes are muddy, take ’em off. If your children are young, keep ’em with you. Yes, we have invited everyone in. Please, treat the home as you would want your home to be treated. No, we don’t need to know everything that you hate about the space. YES, we want you to have a great time and hopefully see the house of your dreams! 

Tips on Finding Your Perfect Real Estate Agent

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Hooray! You are finally ready to start your journey into buying or selling your home (or both!) and want to hire an amazing real estate agent. After all, you definitely want someone you like and trust since you might be spending many months together. But liking your agent is not the only factor that is important for a good relationship, your agent must also be willing to work assertively and competently towards your goals. This means that you want an agent with good credentials as well as a likable personality. This can be a tough balance to find.

Before you start interviewing agents, here are a few tips:

  1. Look up their license information — I know this one seems kinda obvious but a lot of people never look up license information on the agents they are interviewing. You want to make sure that they have an active license in their state with no unresolved complaints. For Colorado, you can go here to see status and information on licenses. There should be similar websites in each state.
  2. Pay attention to each proposal — Again, might seem a little obvious but there can be some pitfalls here. Is one agent telling you they can sell your home for a lot more than anyone else? Be wary, they should be providing a comparable market analysis for your area to back up a suggested selling price. Properties priced too high will not even garner a look from prospective buyers. More is not always better, you want an agent with realistic findings who can sell your house quick and easy. When buying a home, is the agent knowledgeable about the area you want to live in? Can they tell you about schools and any hidden drawbacks? Are they listening to what YOU want? You deserve an agent who truly listens and works with you but will also be honest about what you can expect from the process.
  3. Ask about their plan — Whether you are buying or selling or both, your agent should have a plan to get you there. Just putting some ads in the local paper is not good enough anymore, there is a lot of work that goes into meeting your needs! According to the National Association of Realtors (NAR), most people start their home search online,  “Thirty-eight percent of buyers that were 35 and younger, 43 percent aged 36 to 50, 47 percent aged 51 to 60, and 53 percent of buyers aged 61 to 69 looked online for properties for sale.” (see full report here). What this means is that the internet plays a HUGE role in buying and selling! Ask your prospective agent how they use this channel to sell or find potential homes. Are they computer savvy? Do they know how to take advantage of Facebook, Twitter, and Instagram? Are they willing to take you to houses on a schedule that works for you? An agent that is only available on Wednesdays when the moon is full may not be the best choice. There is so much that goes into this process that you want to have a concrete, workable, and realistic plan to get you to the finish line. 
  4. Ask about updates — How will you be getting updates and how often? One of the most frequent complaints I hear on agents is “they never call back or update me on anything!” Make sure the agent you choose is willing to give you updates as often as you want (even if the update is nothing new) and using the method you like. Are you a texter? Then ask for texts! Do you adore email? Well, your agent should be willing to email updates! We work for you and a good agent should want to keep you in the loop as much as you want. Make a plan with the agent you choose to get regular updates, maybe once a week on Wednesdays or twice a week on Tuesdays and Fridays. This will help you to know that your goals are being worked on and your agent is taking their responsibilities seriously. 
  5. What are their expectations for you?  — A good agent will have some honest feedback and expectations for you. Selling or buying a home is not a one way street (on either side) and the agent you choose should be honest about what you need to contribute to be successful. Do you need to take your bundle of furry love on a long walk every time someone looks at the house since buyers often are turned off by a barking, crated dog? Would it help to update some fixtures in your bathroom even if you truly love that custom faucet made from old pipes from your last car? Do they honestly let you know that it is going to hurt your selling chances if you can only show your house on Tuesdays from 12-1? As much as we wish this process to be quick and painless, there may be some tough love that your agent will impart and it is nice to know that the agent you choose is willing to make sure you hear the truth to find success.
  6. Who else do they bring to the table? — A great agent will surround him or herself with equally great partners. Can your agent recommend three knowledgable lenders for you to interview? Do they have a good general contractor to help with repairs? If they are newer to the business, do they have an experienced team behind them ready to help with those weird situations that inevitably pop up? New is not always detrimental (we are all new at a job sometime) but new, alone, and unwilling to ask for help, now that is nerve-racking. One of my favorite quotes by Matthew Kelly says, “No man becomes great on his own. No woman becomes great on her own. The people around them help to make them great.” (full quote here). The agent you choose should have trustworthy people around them, people who can help when your agent may not know the answer or is not experienced in that area. Not one of us knows everything, but combining a whole lot of experts sure does help!

Finding clients the home of their dreams or selling a house for an amazing price is one of the most rewarding pieces of our job. The right agent will make this a fun, albeit sometimes stressful, but ultimately a truly worthwhile endeavor. The list above only touches on some of the areas to investigate and you will certainly add your own as you start the process. Good luck and have fun!

Hello!

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Hello readers!

I am going to use my first post to tell you a little about me. My name is Lyndsey and I am a licensed real estate broker in the state of Colorado. I am starting my first ever real estate blog to offer advice, awesome tips on home buying, and anything else I feel is relevant to people looking to buy or sell a home.

Real estate can be a scary place but I would like to make it easier. It doesn’t have to be overwhelming or stressful if you have the right tools and information. I am here to answer questions and will post whatever I think will help the most.

I currently work for RE/MAX Professionals in Littleton, Colorado and just love my job. Hopefully I can help you to love real estate adventures just as much as I do!