Has Your Home Sold Yet?

According to the National Association of Realtors latest Existing Home Sales Report, there have been 5.17 Million homes sold in the US so far this year. 

That means that an average of 14,100 homes each and every day.  If your home hasn't sold yet and has been on the market for a while, there could be a few major factors holding it back.  

Contact me if this is happening to you, I am here to help.


Click the link below for more Real Estate information. 


Home Sales Information

10 Steps to Buying a Home

Buying a home can be an intimidating process even if you have done it before.  There are so many rules and regulations to the process of home buying, but being armed with the right knowledge and Realtor can help you realize the dream of being a homeowner.

There are 10 basic steps to the process of buying a home.  One of your Realtors jobs is to guide you through these steps making a smooth transition.

1.  Get pre-qualified with a lending specialist.  First and foremost, you need to talk with a lending specialist to get pre-qualified and to come up with a budget/plan on how much you want to spend on your mortgage. Don't waste your time looking until you do this first step.  If you don't know a lending specialist to use, hire your Realtor first and they can guide you.

2.  Hire a Real Estate Professional.  There are so many rules and regulations to the process of buying a home, you want to make sure you do it right, and have a professional on your side working for you.  They are there to complete all the paperwork, negotiate with the sellers agent, and make sure you are not paying too much for the home. 

3.  Look for the right home.  There are many places to search for homes online before ever going to look at one.  The best place to look is your local MLS site, and Realtor.com.  Be careful of some of the other sites as the information is not always accurate.  Do some research, narrow down your list and be in contact with your agent so that they can schedule showings for the ones you want to see in person. 

4.  Place an offer.  Place an offer an your top pick.  Your Realtor will pull a list of the comparable homes and see what they have sold for.  This is how you will decide on what to offer.  Your Realtor will help guide you in this process, make sure you are knowledgeable and have all of the information you need to make the decision.

5.  Be prepared to negotiate terms.  Once you've put in an offer, it's not always accepted.  The seller can make a counter-offer, to which you can accept or make another counter-offer.  You want to be careful and not go back and forth too much.  You want to meet in the middle somewhere, if you can.

6.  Sign & date effective contract.  Once the contract is agreed upon by both parties, sign and date the contract and then you will make an earnest money deposit, which is money that is put into escrow showing the seller a sign of good faith that you want the home.

7.  Get the right mortgage for your situation.  There are many different programs and types of mortgages out there, and they change.  Be sure to ask questions to your lending specialist to get the mortgage that is right for you and your situation.

8.  Order inspections & negotiate repairs.  You can hire a professional home inspector and get this scheduled yourself, or you can choose to let your Realtor do it.  I would recommend you letting your Realtor do it because they have used many inspectors and know which ones are good at their job. 

9.  Terminate or proceed with the contract.  Once the inspection is done, you have 10-15 days (based on agreed upon contract) to terminate or proceed with the contract.  A reason that someone might terminate the contract after the inspection is if the inspector found a major defect that would cost a lot of money or the buyer just didn't want to mess with fixing.

10.  After final approval, go to closing to sign and own your new home!  Be sure to talk with your lending specialist and Realtor to understand all of the costs involved with closing so that there are no surprises.  Closing costs can include (but are not limited to) down payment, title fees, appraisal fees, loan fees, escrow fees.   Once you sign the papers at the Title Company you are ready to move in!!

*Some up possible up front fees associated with buying a home may include (but not limited to)               
                    Earnest money - usually $500-$1000
                    Inspection fees - $200-$300 (can be paid at closing for additional fee)
                    Termite Inspection fees - $80-$100 (can be paid at closing for additional fee)

Word of advice:  use your Realtor even after the deal is done!  They should have lists of reputable Movers, Contractors, Insurance Agents, ect.  They are your resource for anything home related!



                               

The Rise of OKC documentary

Seamus Payne of TheCoolist.com has created an in-depth video documentary about the Rise of OKC!  From tech startups, sports and cultural history, we surprised him as he experienced our city firsthand. 

His video documentary features things like the Rocktown Climbing Gym, the Boathouse District, the Plaza District, rowing with the US Mens Olympic team, local artists and entrepreneurs, and of course the OKC Thunder. 

This is a must see video.  Check it out here!  Rise of OKC

8 Things to Consider When Buying a Home

Buying a home is the biggest purchase of your life.  You want to make the best informed decision you can and that’s where I can help!  I have compiled a list of 8 important things to consider when you are out looking at homes to buy.  This list is a little different because these things are usually over looked when buyers find a home that they like, but can have a huge impact down the line.

1.      Think long term – You want to find a home that fits your current needs, but your future (5-10 years) needs are just as important.  Keep these in mind.

2.     Think resale – According to HomeInsight.com, the typical homeowner moves every 5-7 years.  Make sure when you are looking for your home that you are thinking about resale.  Things like updates, home layout, surrounding areas, and neighborhood are important factors in resale.  

3.     Look at all the expenses – Make sure you take into consideration all of the expenses that you would have if you lived in the home.  Things like a neighborhood HOA or a pool in the back yard can change the look of the expenses.  You don’t want any surprises, so the best bet is to make a list of all of the possible expenses for the home.

4.     Look Beyond Staging – Sometimes homes are staged so well you just fall in love with it.  That’s not a bad thing, but it’s important to realize “that stuff” won’t be there when you move in.  Look at the bones of the house and see your décor, furniture and family in it.  

5.     Ask for the HOA Info – If the neighborhood does have an HOA, you want to ask for the HOA Rules and Regulations before you put in an offer.  You want to make sure that your lifestyle and the HOA Rules will be a good fit.  For example, if you have kids and have 5 cars but the HOA doesn’t allow for cars to be parked in the driveways overnight, then that neighborhood might not be a good fit for your family at this time.

6.     Check into the neighborhood and demographics – Location, Location, Location.  If you’re not familiar with the area, do some research.  Search neighborhood information, area crime reports, schools, the local amenities.   Drive the neighborhood at different times of the day.  This can show you how busy the neighborhood is, and the interaction of the people that live there.   All of these are very important things to help with the decision making process.

7.     Test commute – You are going to be doing this commute every day.  Test the commute and make sure that it will work for you.  For example, the house is 10 miles further away from work, but the traffic in that area is so bad, it takes an extra 20 minutes.  Make sure you are informed.

8.     Get a Professional to help – Realtors have the education and experience.  The market is always changing, and Realtors will be able to navigate you through it all.  From the start, helping with neighborhood knowledge, market conditions, pricing the offer, negotiations, and lots of paperwork. 

Make a list of items to check out, ask your Realtor for help and be as informed as you possibly can before buying a home.