My Account

  • Week Seven – Five Things to Remember when Touring Homes

    By

    Now that you have your list, you are ready to start seeing some of these houses! 

    Touring homes can be both exhilarating and scary. It is easy to let your emotions take control, so before you step foot in a house, keep these touring tips in mind. 

    1. Before you head out for showings, review your needs and wants list. Keeping these things in mind will help you determine more quickly if this home will work for you.
    2. Take your time during your showing. It’s okay to check out the kitchen more than once. This is a big decision. 
    3. Take photos. It can be tough to remember all the details once you have left the showing. So take pictures to help jog your memory when you sit down to review them.
    4. Do not let staging, decor, or paint colors distract you. All the staging and decor will be gone when you move in and paint colors can easily be changed. So do not let these things overshadow what really matters. 
    5. Remember location, location, location. You can change paint colors and even knock down walls, but you cannot change the location of the home.

  • Week Six – How To Decide Which Homes to Tour

    By

    Woohoo! We have our wants and needs list, and now it is time to start seeing some homes!

    Your real estate agent should set you up on an MLS search to help you find some homes, but I know you will probably want to do some searching of your own – everyone always does.

    So here are a few tips to keep in mind as you look at homes to narrow down your list…

    Keep your search filters broad. For instance, if you need four bedrooms so you can use the fourth one as an office, you may want to include three bedrooms in your search as well. Perhaps, there is a three bedroom home out there with a den that would work perfectly for your office. This to say, narrowing down your filter might make you miss the perfect house.

    Be mindful of absolute filters. Make sure you are putting in a buffer when you enter your filters. A   search to include homes with 2,500+ square feet will not show you that home with 2,499 square feet.

    Expand your geographic search. Opening up your search to include just a little bit further may give you more options. 

    Don’t let pictures fool you. Keep in mind that photographs can be deceiving, so don’t base everything on what the pictures look like. Some agents use professional photographers who filter the MLS photos while other agents are snapping blurry photos on their iPhones. Review the entire listing before nixing it simple based on the photos. I’ve seen beautiful homes with really bad photos and vice versa. 

    As you begin to pick out homes to tour, your agent will set up showings to see them. 

  • Week Five – How To Create Your Wants & Needs List

    By

    Starting the home search can be so exciting! You are probably daydreaming of tall, tray ceilings with huge windows and tons of light. You can’t wait for that chef-inspired kitchen with the luxury appliances and an island worth of its own spot on a map. And what about those showers you will take in oversized, spa-like master bath with the rainfall shower head and one of those Moen dials that let’s you set the temperature just like you saw in that model home. 

    Yes, those are amazing things to dream about, but we need to come back down to reality for a bit. Unless you have a limitless budge, it’s pretty hard to find the perfect home, dare I say impossible. This is why it is imperative to have a list of your wants AND your needs. 

    But what is the difference?

    Well, you want a 10 minute commute to work, but you need it to be at least within 30 minutes.

    You want 4 bedroom home so you can have room for each kid and a guest room, but you need a 3 bedroom home (let’s be honest, do you really want guest staying with you?).

    You want a huge backyard, but you really need to stay in the school district for your kids.

    Be very clear on these wants and needs, and make sure you don’t overlook a need just because a home has one of your big wants. That home theater in the basement may be everything you have ever dreamed of, but it won’t replace the headache of having to commute 30 minutes to take your kids to school. 

    Take some time to prepare this and be open and honest about these things with your real estate agent. 

  • Week Four – What Should You Ask Your Lender?

    By

    Before you start your home search, you will want to sit down with a lender, get your finances in order, determine how much you can afford, and get a pre-approval. 

    Before you sit down with a Lender, make sure you have these documents ready to go…

    • Social Security Number for all borrowers who will be listed on the loan
    • Proof of Employment
    • Proof of Income (usually your two most recent pay stubs)
    • Bank Account Statements
    • Your W-2 Statements for the last two years
    • Your Tax Returns for the last two years
    • Self-Employment Documents
    • Place of Residence (typically for the last 5 years)
    • Gift Letters (if someone is gifting you funds for the down payment)
    • Your Credit History & Score (this will be pulled by the lender from the credit bureaus)

    Now that you have your documents, it is time to set up a meeting. If you have never met with a lender, it may seem pretty daunting. So here are 5 questions to ask your lender to make sure you understand the process and are getting a mortgage you are happy with. 

    What type of mortgage do you recommend?

    Conventional? VA? FHA? What is the difference? While a FHA loan will usually allow you to put less money down and offer a slightly lower interest rate, a conventional loan won’t require private mortgage insurance, potentially making it a better option. Differences such as these are why it is so important to talk with your lender about the difference of each mortgage they recommend – including the benefits and drawbacks – to determine which one is best for you.

    What will my downpayment be?

    Of course, you need to know how much money this is going to cost you up front. However, it is also important to understand how much flexibility you have with that, particularly in a competitive market that sees multiple offers.

    What is my interest rate and APR?

    This number tells you how much a mortgage will cost you over the life of the loan. The higher the interest rate, the money money you are paying to borrow. While applying for a loan, it may be wise to shop for the best interest rate.

    How long can I lock my interest rate in for?

    Once your interest rate is locked in the time starts ticking. If you lock your interest rate in, make sure you know how long you have before the lock expires to ensure you do not have to pay a rate lock extension fee.

    What will my closing costs be?

    While not all closing costs are directly related to the lender – such as title fees and recording fees – a large portion of your closing costs as a buyer will be dictated by the lender. This will vary from lender to lender, so while shopping, make sure you consider.

    Once you have your pre-approval in hand, you are ready to start home-shopping!

  • Week Three – What Does the Buying Process Actually Look Like?

    By

    Buying a home can seem extremely daunting. Where do you even start? 

    Here is a quick overview of the buying process timeline…

    Find the Right Agent. You never want to start the home search without a knowledgeable real estate agent in your corner. Find someone who knows the market, how to negotiate, and the ins and outs of a transaction. And you’re in luck…you’ve got one right here!

    Get Pre-Approved. Before you start looking for your new home, you want to sit down with a lender and get pre-approved. This will help you determine your price range and set you up for success when making an offer.

    Find Your Home. Once you have a pre-approval, the search is on! Your real estate agent will help you not only search for homes and show them to you but help answer questions and prepare the strongest offer when the time comes.

    Make an Offer. When you find the perfect home for you, your agent should help you review comparable sales, as well as other factors like inspections and repairs, and help you structure an offer and negotiate a price and contract you are happy with.

    Inspection and Appraisal. Once you are under contract on your new home, you will want to have the home inspected, appraised, and review other due diligence documents to insure you are comfortable with the home purchase.

    Finalize Negotiations & Repairs. Final negotiations will be made regarding any inspection, appraisal, or other issues, and the loan will be put through final underwriting.

    Closing Day! Once the loan is approved, you are ready to head to the closing table. Real estate documents and loan documents will need to be signed and money collected before you get those keys in hand.

    And that’s it! You are a homeowner!

  • Week Two – Is It Time for You to Fire Your Landlord?

    By

    Alright, I’ve gotten you excited about homeownership and all it’s benefits, but it is time for you to finally take the plunge?

    As we talked about before, it is no secret that the benefits of owning a home far outweigh those of renting in the long run. And while those sound absolutely fantastic, does that mean are you really ready to make that commitment? 

    Let’s face it. It isn’t just about the financial commitment. Buying a home is also a very emotional decision. So before you start home shopping, take a few minutes and ask yourself these questions: 

    1. Can I afford to buy a home? Take a look at your big financial picture. Do you have enough money saved up to afford the downpayment, closing costs, and maintenance? How does your DTI (debt to income) look? If you are already living month-to-month because of debt, taking on a new commitment might not be the best option. 
    1. Are you ready to put some roots down? Buying a home is a long-term decision, so you want to make sure you are ready to commit to staying in one place for at least the next few years.
    1. Are you happy with your current job? Lenders want to see stability when you are making such a big purchase, so make sure you are happy where you are.
    1. Do you really want to buy a home? Is this something you really desire, or are you just doing it because everyone else is or tells you to? This is a big decision, and the only thing that matters is how you feel about it.

    If you have answered yes to all these questions, you are ready to go, my friend! Next step is for us to chat about your time frame. 

    And don’t forget to follow along as we talk about the next steps!

  • Week One – Why Should You Buy Rather Than Rent?

    By

    Are you thinking of taking the plunge into homeownership but not sure if it is the right decision?

    If you have done any research on the matter, it is no secret that the benefits of owning a home far outweigh those of renting in the long run. I could go on and on with all the statistics out there, but let’s just highlight a few of the pros and cons.

    Here are the pros…

    1. Rent increases over time. However, when you buy a home, your mortgage will not increase over the life of the loan, which is typically 30 years. This means you don’t have to worry about rent increases during every renewal.
    2. Interest rates are relatively low right now meaning owning could be more affordable. Home prices may be high, but low interest rates mean that your monthly mortgage payment could actually be lower than your monthly rent.
    3. Every month, a portion of your payment goes towards your principal, helping you build equity in your home. When you are renting, your rent pays your landlords mortgage and helps them build equity.
    4. You have the ability and freedom to customize or renovate your home. No need for those renter friendly hacks, because you are in control.
    5. Real estate tends to increase in value over time, meaning you can build wealth with real estate.

    However, the cons:

    1. Owning is a long-term decision. If you are not ready to commit to one home for at least a few years, renting may be the better option. 
    2. Owning can be more costly upfront because of your downpayment and closing costs. Renting typically only requires a deposit and first and last month’s rent.
    3. Owning is more responsibility. There is no landlord to call if the refrigerator breaks. However, there are programs like home warranties out there that can help with this, but we will talk about that later. 

    If the pros excite you, stick with me as we answer the question…Is it time for YOU to fire your landlord?

  • Lead Generation from Listings – Your Just Sold Activities

    By

    You’ve sold your listing! YAY!

    Now, hold up, before you just move onto the next thing, and let’s do a little more lead generation work with this property. 

    Social Media AGAIN

    I mentioned it before in both the just listed and the open house activities, but make sure that you put a social media template together for your Just Sold. If you can, opt for a picture of your clients, a story about how you made a dream come true, or an example of a problem you overcame in the transaction. Stories are much more interesting than a simple “Just Sold.” Make it interesting. 

    ( And don’t forget to ask, “Are you thinking about buying or selling?” And offer a free guide.)

    Just Sold Postcard

    Now it’s time to follow up with those nosy neighbors. Make sure you send these to the exact same people that your Just Listed cards went to. We are going for multiple touches here. Don’t forget to tell them exactly what you did to get that property sold and how you went above and beyond. Make it stand out.

    CMA Packets

    Prepare CMAs for the neighbors! Now I’m not talking about all the neighbors –  that’s a lot of work. But pick the ones that are closest, maybe pick neighbors that have lived there over 5 years and prepare quick CMA for each of those homes. If they weren’t thinking of selling, this may change their mind. 

    Make sure that you’re following up with everyone you have gotten contact information for. Put them on a drip campaign, set up automatic MLS searches for them, and connect with them on social media. It’s time to start turning these leads into clients. 

  • Lead Generation from Listings – Your Open House Activities

    By

    Yes, I said it. OPEN HOUSE.

    I know if you like m,  you don’t necessarily love doing open houses. I’ll be honest, I’ve never been a big fan of them. I was always told they are great for lead generation, but I never understood that until I put the right practices into place to turn it into such. So let’s talk about how to do that.

    Post on Social Media

    Use the Social Media Templates to announce your open house. Again ask, “Are you thinking of selling?” and offer a free download of the Seller’s Guide or offer more listings for buyers. 

    The Open House Kit

    Make sure to use the open house kit template at ThatCaptivatingSocial. (If you don’t have access to ThatCaptivatingSocial, you should.) The Open House Kit includes signs that you can put up at your open houses. 

    As a buyer, I don’t really like talking to people when I’m going to open house, but I’m much more willing to take a picture of a QR code and sign up for information. Create a list of listings similar to the one you are holding open. (You should have already done this when you created your flyer.) Use a Flodesk, Mailchimp, etc form to collect information in exchange for this listing of other properties. Make a QR code for this form website and place it on your sign. This way buyers can scan the code and get more listings, and you can get their contact information to follow up. 

    You can use this same idea with a simple sign in sheet, home review, or a download of the seller’s guide, etc.

    Buyer’s and Seller’s Guides

    Instead of hanging out cards at an open house, hand out buyer’s and seller’s guides to visitors. This is a great way to give them something valuable with your contact information that they are less likely to lose. 

  • Lead Generation from Listings – Your Just Listed Activities

    By

    Congratulations! You have a new listing! Now let’s talk about the three things that you should be doing RIGHT NOW to start building up that pipeline. 

    Post on Social Media

    First, use a social media template showcase your just listed on social media. Everyone likes to be nosy at look at houses, even if they aren’t planning to buy, so this can strike up some real conversation. Bonus points – ask ,”Are you thinking about selling?” and then offer a sellers guide in exchange for their information.

    The Flyer

    Number two is the flyer. Yes, I know this doesn’t seem like a lead generation idea, but stick with me. First of all, those flyers are your first presentation to any potential seller or buyer. It tells them a lot about how you handle your business.  Next, add a QR code to the bottom of your flyer. Maybe this isn’t the home that they are looking for, but you have prepped a whole list of other active homes just like it that you can give them – in exchange for their contact information! 

    Just Sold Postcard

    Finally – Just Listed postcards. You don’t necessarily need to send these out to the entire neighborhood, but you want to hit those nosy neighbors that are keeping a close watch and might be considering selling their home too. (And don’t worry, we’re gonna follow up after its sold too). 

  • A Listing is Just a Listing. Or Is It?

    By

    Let’s talk about how to make your listings a lead generation magnet!

    I was told once that as soon as you close a deal as a real estate agent you are once again unemployed. So it should stand to reason that we should take every opportunity to generate leads to keep us employed, right?

    However, I think so many of us agents focus on the paycheck at the end of a listing and forget all the things we could be doing throughout.

    I am part of a Facebook group called LabCoat Agents. This group is real estate agents from literally all over the world and is kind of a place for them to come together, ask questions, get advice, and sometimes just vent. 

    Well, the other day an agent posted, and he was complaining about a client. The client was purchasing a multi million dollar property with him, and he asked his agent to sell one of his $125,000 properties for 1%. We can all do the math on that – $1250.

    Now, I get it that’s not a lot of money, and he was hesitant to do it. He wanted others to help him justify a “NO” answer to his client. (Now we aren’t going to go into the argument that he would be making bank on the flip side of this deal, but that is a valid argument). Instead, I actually want to come at this from a marketing perspective, and talk about why he should say “yes”. Because at the end of the day, you can actually taken a listing and turn it into lead generation basically for free!

    We’re gonna break this down into three different segments – your just listed activities, your open house activities, and your just sold activities – and in each of these segments, I am going to give you you three different activities that you could be doing to generate leads. Are you ready for this?

  • Heading to an Inspection? Don’t Forget These 3 Items

    By

    You have got your offer accepted and are on your way to the closing table. Next up is the ever important inspection. 

    Why get a home inspection you may ask? Well, every home whether new or not is bound to have an issue somewhere. Just like people, no home is perfect. But before you sign your name on the dotted line of that deed, you probably want to make sure that home isn’t a lemon. This is why you wan to hire a licensed inspector who will review the home for any major issues. 

    While not all buyers attend their own inspection, it is usually wise to at least be there for the final 30 minutes. This allows the inspector to review their findings with you in person and answer any questions you have – something that isn’t always easily done after the fact. AND when you head out, don’t forget these 3 things. 

    Notebook

    What did he say about that switch again?

    Undoubtedly, the inspector will be spitting facts and maintenance tips at you faster than the speed of light. I don’t know about you, but my brain just can’t keep up sometimes. Make sure you have a notebook (and pen) to take notes. For instance:

    1. Future Maintenance Items
    2. Potential Issues
    3. Helpful Tips

    Measuring Tape

    Is your king bed going to fit in that room? 

    You probably weren’t too concerned about measurements when you first went to look at the house, but now you have some time to take those measurements for your future furniture and projects.

    Cell Phone

    How many light fixtures were hanging over the counter? 

    After 5 years living in a house, you know it like the back of your hand, but with all the excitement, you probably weren’t able to take it all in. Now is your chance to get all the photos that the MLS didn’t provide!

  • 5 Questions to Ask Your Lender

    By

    Before you start your home search, you will want to sit down with a lender, get your finances in order, determine how much you can afford, and get a pre-approval. However, if you have never bought a home, this step may seem daunting because you have no idea what half this stuff means. So here are 5 questions to ask your lender to make sure you understand the process and are getting a mortgage you are happy with. 

    What type of mortgage do you recommend?

    Conventional? VA? FHA? What is the difference? While a FHA loan will usually allow you to put less money down and offer a slightly lower interest rate, a conventional loan won’t require private mortgage insurance, potentially making it a better option. Differences such as these are why it is so important to talk with your lender about the difference of each mortgage they recommend – including the benefits and drawbacks – to determine which one is best for you.

    What will my downpayment be?

    Of course, you need to know how much money this is going to cost you up front. However, it is also important to understand how much flexibility you have with that, particularly in a competitive market that sees multiple offers.

    What is my interest rate and APR?

    This number tells you how much a mortgage will cost you over the life of the loan. The higher the interest rate, the money money you are paying to borrow. While applying for a loan, it may be wise to shop for the best interest rate.

    How long can I lock my interest rate in for?

    Once your interest rate is locked in the time starts ticking. If you lock your interest rate in, make sure you know how long you have before the lock expires to ensure you do not have to pay a rate lock extension fee.

    What will my closing costs be?

    While not all closing costs are directly related to the lender – such as title fees and recording fees – a large portion of your closing costs as a buyer will be dictated by the lender. This will vary from lender to lender, so while shopping, make sure you consider.

  • 4 Ways to Make Your “Home Office” Work for You

    By

    Working from home is the new normal for many Americans, but many of us weren’t thinking we were going to need a home office when we bought our current home. We have resigned to using the kitchen table, the coffee table, or our nightstand for our current office space. But regardless of whether you have a designated space at home or not, you can make this space work for you. 

    Commit 

    You may not have a room with four walls and a door to call your office these days, but you need to commit to a space for your home office. Designating a spot will help you stay in your routine and keep your mindset focused. 

    Declutter

    If your home office is at the same kitchen table where everyone leaves their junk, it’s going to make it difficult to stay organized. Now that you have committed to your space, make sure it is decluttered and dedicated to work.

    Check that Background

    If Zoom calls have become apart of your daily routine, then you need to take a second and check the background of your new home office. Do you have a pile of unfolded laundry sitting on the bed or maybe a shelf of empty wine bottles? Keep those areas clear so you are already if you need to hop on a call. 

    Set the Mood

    Working from home can make it difficult to stay on task, so set the mood to help you stay focused. Make sure you have lots of natural light shining in, put on that hype music in the background, and light that candle that they don’t allow you to have at the office!

  • Thinking about Buying? Here’s How to Find your Dream Home

    By

    Househunters on HGTV certainly makes it seem easy, don’t they? They tell their real estate agent what they are looking for in a home. Their agent finds them three properties that fit those needs. After three showings, they are under contract on their dream home. But reality is far from that simple. 

    Finding your dream home can take weeks and sometimes even months, depending on market conditions. However, there are a few things you can do to help yourself leading up to the buying that will making finding your next home easier. 

    Know your finances. 

    Before starting out on the search, it is imperative to get your finances in order, especially in a competitive market. You will want to determine what you can afford and how much wiggle room you have in that budget. Before you meet with your real estate agent, ask yourself:

    1. Am I pre-approved for a mortgage by a lender?
    2. What is my budget?
    3. Have I saved up enough for the downpayment and home maintenance and/or repairs?
    4. Am I able and/or will to do renovations or do I need a turnkey home? 

    Know your needs. 

    You may have the idea of what the perfect home is already in your mind, but make sure that picture is realistic. Consider your current lifestyle and what you want in the future, and then sit down and make a list of must haves as well as wants before you start shopping. Ask yourself questions like:

    1. How many bedrooms do I need?
    2. Will I need more in the near future?
    3. Do I need space for an office? 
    4. Is a garage and yard necessary? 
    5. Are stairs doable?

    Choose a location. 

    You have heard the phrase “Location, Location, Location,” and it could not be more important when it comes to buying a home. You can change the color of the walls and even the location of the walls themselves, but you cannot change the location of the house. So consider this very carefully before setting your home search up.

    1. How close do I need to be for work? 
    2. How close do I want to be to the city? 
    3. Am I okay traveling 30 minutes to the grocery store? 
    4. How close am I willing to be to neighbors?
    5. Is there enough activities going on around me (or too many)?
    6. How are the schools?

    Talk to Your Realtor 

    Once you have your finances in order and a good idea of what you want in your dream home, you are ready to get your search started. Meet with your real estate agent and share with them your finances (at least what is critical for the home search), your needs/wants, and your desired location. Being upfront with your agent will make it much easier for them to help you find your dream home. We may be miracle workers, but we can’t read minds just yet!