True Story Tuesday

Why A Professional & Experienced Realtor With A Plan Can

TRUE STORY! Why a Professional & Experienced Realtor with a Plan can MAKE YOU MORE MONEY!

The market is heating up, I’ve been working with a number of buyers that are AMAZED when a house gets SOLD in a day and they haven’t been able to even get through it. The buyers are typically frustrated, and I shake my head. I see later on FB the agent ‘brag’ about being so good that they house in a day, and I shake my head. I see the seller (who I may also be friends with on FB) brag about the agent that sold their house in a day, and I shake my head again…strike three.

I heard from one of my buyers today…the house we missed out on yesterday was listed at 250. Had we gotten the chance to go through it, we may have been willing to pay 260 and this is a CASH BUYER!

No offense to anyone, but hear it comes…if you hire someone that thinks sold in a day is a good thing for you, YOU PROBABLY JUST COST YOURSELF at least TEN THOUSAND DOLLARS…probably more! I’m not going to fault you for using someone you know, someone that’s family, someone that goes to your church, but seriously if they don’t understand that MORE PEOPLE seeing your house and having the opportunity to make an offer is a good thing for you…perhaps you should reconsider. It is your decision and sure you can blame the agent if you choose to…BUT it is your decision and if you are good with that decision costing you TEN THOUSAND DOLLARS, then you probably are much better off than most of us. I do understand that every situation is different, but in this specific case, that buyer probably lost out on $10,000 runs the risk of a failed inspection or a low appraisal and is back at square one after a month of frustration because the bank won’t lend enough money for the buyer to get it.

That ten grand is also a minimum because had this specific property been marketed up front with professional and aerial photos and video and a virtual tour, it probably would have generated even MORE interest, MORE showings and MORE MONEY! And had it been on the market longer than a few hours. TEN GRAND…still shaking my head.

If you or someone you know is planning on selling, PLEASE let me know. I’m happy to help and apparently have a more comprehensive marketing plan that will probably bring MORE MONEY to the table at the end of the day…ESPECIALLY IN THIS MARKET!

It would surely have in this case.

Call me Today to discuss my Comprehensive Marketing Strategy!  616-886-6766   or    Check out my Technology Listing Package

Why Is There SO MUCH Paperwork to Get a Mortgage?

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 Why Is There So Much Paperwork Required to Get a Mortgage?

Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.

During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again.

2. The banks don’t want to be in the real estate business.

Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

However, there is some good news in the situation.

The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate around 4%.

The friends and family who bought homes ten or twenty years ago experienced a simpler mortgage application process, but also paid a higher interest rate (the average 30-year fixed rate mortgage was 8.12% in the 1990s and 6.29% in the 2000s).

If you went to the bank and offered to pay 7% instead of around 4%, they would probably bend over backward to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.

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Our friend, Tim Kleyla, over at The Mortgage House is a CHAMPION, through and one of the smartest in the industry! Whether you are a first time home buyer, moving up and a second time home buyer, refinancing, investment buyers, or seniors seeking a reverse mortgage, Tim & his team will work for you!

 

 

 

Roadmap To Selling Success

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Home buyers always do a lot of comparison shopping. In today’s market it is especially important to price your home right from the beginning and to get it “show ready”. There are many homes available in all price ranges, but the homes that are priced right and show well are the ones that bring in qualified buyers.

This is where NextHome Champions shines!

Our Technology Listing Package includes: Professional Photography, Video Marketing, 3-D Virtual Reality Viewing, and Drone Footage.  This + Your Personalized Marketing Plan is sure to save you money & time!

Luck of the Irish to you! List your home with Tom in March and get your Tech Package FREE!  ($1000 value)  Check out everything you get in our Technology Listing Package HERE!