• About
  • Contact
  • Bragging

My Consistent Pursuit

~ Life & Real Estate

My Consistent Pursuit

Monthly Archives: May 2013

Where Do I Find Foreclosures?

23 Thursday May 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

Gosh, “lady at the CVS Pharmacy register”, thanks for asking!

So you’ve been on a number of foreclosure sites and you’re confused about whether or not you really need a subscription to that site.

First of all, those foreclosure sites are usually out of date. What that means is that many of the homes you’ll find on there have already been sold either on the courthouse steps or through a REALTOR.

You may have heard of HUD properties. These are properties listed for sale by the Department of Housing and Urban Development. These properties are listed for sale in the local Multiple Listing Service as well as www.hudhomestore.com. You will need a real estate agent if you’d like to place a bid on a home. Think of it as EBay for homes. If you plan to be an owner-occupant, your bid will be considered first. If, within the first 10 days (usually), an owner-occupant doesn’t place/win a bid, the property will be offered to everyone including investors.

You can also run a foreclosure search for the Greater Kansas City area on our website and click the ‘foreclosure’ box when you set up your search. Be warned, though, that limiting your search to just foreclosures will only send you foreclosure properties. There’s plenty of other deals to be had out in the marketplace, so I would suggest you only limit to price and weed out the properties you aren’t interested in.

That’s it, simple. No costly subscription needed to search foreclosures in our area!

Which Floor Plan Do I Like?

23 Thursday May 2013

Posted by JoannaGWilliams in Home Buyer Advice, Moving

≈ Leave a comment

Do you have children?

Do you like stairs?

Are separate areas, such as an office or playroom, important to you?

Do you need everything on one level?

We’ll start with the Split Level. When you walk into a split level you’ll be at a landing area with two sets of stairs in front of you. One goes upstairs to the kitchen, bedrooms, living room, etc. The other set goes downstairs to either the basement area and garage entrance. Continue reading →

Your House is Listed…NOW What?

20 Monday May 2013

Posted by JoannaGWilliams in Home Seller Advice

≈ Leave a comment

Holy cow, you’ve finally chosen a real estate agent, signed the contract, have a sign in the yard, Now What?

I said this in my previous post, but it will help you to walk through other listings to see what you’re up against. You’ll see your home in a whole new light once you’ve spent some time in someone else’s.

Granted, your agent has told you to clean, declutter, depersonalize, etc. But, there’s always that extra step that so many of us would miss, but that’s because you’re sellers that haven’t walked through 40 homes.

Now that you feel your home is perfect, keeping it that way while you’re living in it can be quite a task. I highly recommend investing in some Swiffer wet cloths and some Clorox wipes—-both things can come in very handy if you have to run out the door to allow a showing. Sure you can ask for extra notice before showings are scheduled, but you will be turning away a certain portion of your potential buyers. My advice is to allow your home to be shown as much as possible. If it’s an absolute mess one day and a showing is scheduled, call your agent and ask them to call the agent showing it to pre-warn them.

Pets? Ugh, please don’t make the real estate agents showing your property babysit them. If we have to remember the name of your dog, not to let the cat outside, etc—-we can easily become distracted from your home’s best features while we’re running around trying to corral your pet.

Now don’t despair, your home probably won’t be shown every day. Depending on the market, showings could be very slow. This isn’t the fault of your real estate agent. If they’ve done their job, good pics, good listing info, loaded to the web, priced correctly, etc—-your house is being properly marketed. Your agent cannot invent buyers, nor would you want someone to lie to you. Be patient, the right buyer will come along. Selling a home takes time and effort. Your agent wants your home to sell as much as you do.

When your home is shown, your agent will try to get feedback from the other agent’s buyers. We have to rely on the cooperation of the other agent on this matter. Sometimes the buyer’s agent is so busy showing 40 properties, that it could take a couple of days for feedback. If you do receive feedback, PLEASE LISTEN TO IT. If the buyers said something about a huge change they think you need to make, discuss this with your agent. They will give you a good opinion on whether or not it’s necessary.

I know this is a very stressful time. Try to relax, be patient and do everything IN YOUR POWER to help get your home under contract.

Don’t Base REALTOR Selection on Home Price!

20 Monday May 2013

Posted by JoannaGWilliams in Home Seller Advice, Random Thoughts

≈ Leave a comment

I know I was going to write about your home being on the market next, but an agent reminded me of this common misconception today and I had to share.

You interview 3 agents:

Agent 1 says your home is worth $219,000

Agent 2 says your home is worth $220,000

Agent 3 says your home is worth $250,000

Please DO NOT choose the real estate agent that tells you the highest price. Look at the facts…if two out of three agents think your home will sell around $220,000…that’s probably the best idea of market price. They’ve done their homework and they’ve probably showed you their homework…the other one probably did a quick glance at a couple of active properties before running out the door to meet you. It’s perfectly fine to like and choose Agent 3, but please, don’t price your home at the higher price. You have two great price opinions from other agents in your market area—-use the realistic number and get that house SOLD!!

Listing Your Home, Selecting a REALTOR

20 Monday May 2013

Posted by JoannaGWilliams in Home Seller Advice

≈ Leave a comment

When you start telling people that you’re thinking about selling your home, you will naturally get several recommendations on real estate agents to use. But please, heed my advice and interview a couple of agents and do your homework before choosing one. Remember, this person is going to be a part of your life until your home’s sold.

When I say, do your homework, I mean for you to get on the web and use Google to search for the best websites in your area. For instance, if you’re in the Kansas City area, you would do a Google search on Kansas City real estate. Now, check out the websites of the ones that come up first in your search criteria. Is the site easy to use? Do they have an office near your area? Do you already know any of the agents in that office? Do you recognize the name of the company? Etc, etc. Also, now is the time to do a little searching for the people that were recommended to you. Are they on one of these major sites? How’s their personal website page? Do they have homes listed? How are their pictures? The reason all of this is so important is because you really need for your agent and their company to be current with technology. 94% of buyers begin their home search online.

Next, you can either pick up the phone and call the agent or just email them (to test their response time). Tell them you’re interviewing agents. Don’t know who to choose from those companies that you found on the internet? You can always call the main office number and chat with the broker. I’m always happy to talk with a potential customer about their property, their needs, and who I think would be a good fit for them.

Here they come!

A few tips here: Don’t make your choice based on their commission rate. Do ask them about their marketing. Don’t let someone force you into a decision. Let go of your emotional ties to your house. Do look at the comparable sales they bring and make an informed decision. Do go with your gut feelings.

Nobody can tell you exactly what your home will sell for, or how quickly it will sell. They CAN give you stats from their MLS about the current market. When you choose your agent you’ll sign a contract with them for a certain number of months. I highly advise you to ask your agent if they’ll take you through the comparable homes on the market. This can give you a good feel for how your priced and how your home stacks up in comparison to the competition.

Also, a common misconception is that the real estate agent you’ve chosen should be showing your house themselves. This isn’t always the case. Trust me, if they have buyers in your price range…they will bring them through. For the most part, other agents from their office or from other offices will be showing your home. Our MLS system & websites match the buyers with the homes, and the buyers are usually under contract with their own agent.

Next time: Your house is listed, Now What?

Time is of the Essence, Right?

20 Monday May 2013

Posted by JoannaGWilliams in Home Buyer Advice, Home Seller Advice

≈ Leave a comment

Yep, especially when you’re trying to buy or sell a house.

Okay, if you’re a buyer and the lender is asking you for paperwork, you’ll need to do your best to get him/her everything they need as soon as humanly possible. The lending world doesn’t stop because you have to work an extra shift. If you’re someone that has trouble doing things in the middle of the day, please either have a conversation with your boss letting them know that you’re trying to buy a house; or…get a cell phone that you can get online with and email docs. A personal scanner/printer would help as well. This is the largest purchase you’re probably ever going to make….stop….think….and do everything in your power to make it happen. Also, discuss this with your real estate agent ahead of time. Some agents are willing to do a certain amount of ‘ferrying’ paperwork in order to get the deal done, but if you don’t tell us you need help with this, we don’t have any idea you need that service until the last second when the lender tells us the deal can’t close because docs are missing.

Okay, sellers, your turn. I know that when you’re on the selling end, you’re a little more distracted with keeping your house clean, making repairs, finding a place to live, packing, etc. But, help us out here….you WANT to sell your house, right?? So, if it’s impossible for your real estate agent to get a hold of you or get signatures from you, I have a NEWSFLASH! Your contract will fall apart. If you have a trip planned and are planning to leave town, please contact your real estate agent. Find out ahead of time if you’ll have access to a place like a UPS store or hotel office area. Give your agent your out of town contact info and let him/her know when you’ll be returning. Will you be completely inaccessible?? That’s perfectly fine, but tell us so we can let the agent that has anxious buyers know when they can expect an answer. It’s not rocket science, but it is Smart Selling.

Thanks for listening, enough for tonight, this is as REAL as it gets. 🙂

Disclaimer: We sell real estate in Missouri and Kansas. Laws and contracts will vary from state to state.

Buying your first home, Closing Day!!!

20 Monday May 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

Yipppeee! You’ve made it to closing day.

You will be doing a final walkthrough. It could be the day before or the day of closing. This is to check to make sure that all repairs you requested have been properly completed and to be sure that all of the sellers personal items have been removed from the property. Sometimes there’s a couple of days allowedafter closing for the sellers to move out; it just depends on what’s been written in your contract. At this time, make sure your real estate agent has arranged how the keys will be delivered to you.

The title company, lender, or your real estate agent has given you the amount that you need to bring to closing. This needs to be in the form of a cashiers check, or it can be via wire transfer. Usually, in our area, it’s a cashiers check. Also be sure that you take your ID with you to closing. The title company will usually take a copy of it.

Often, your lender and real estate agent will accompany you to closing. Keep in mind, that you can close without either one of them there, but it’s handy if they do go so they can answer any questions that arise. The title company will take you through a grueling paperwork process…probably the most paperwork you’ve ever signed at one sitting.

When you’re finished, you’ll receive a packet with all of your paperwork to store in a safe place and it’s time to enjoy your new home. Stay calm, sometimes there’s snags at the end with funding or recording; the professionals you have hired will take care of these things and will do their best to get you in your new home ASAP after closing.

Once you’ve moved in, take the time to review your real estate agent and let them or their broker know how you felt you were treated. Good or bad, all feedback is appreciated.

Enjoy your new place!!

Buying your first home, when you find THE ONE

20 Monday May 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

You’ve been searching for weeks, maybe even months, and right now, you are standing in the home of your dreams. You can’t describe it…something just feels RIGHT about this one.

Prepare yourself, this journey isn’t easy.

You leave the house, discuss it with someone, and then make the decision to call your real estate agent to write up an offer. The first thing your agent should do is call the listing agent on the home to 1. make sure the home is still available, 2. Let it be known that an offer ‘might’ be coming from you, 3. tell the listing agent to notify them if another offer is received before you have the chance to write yours. When you are getting ready to get together with your agent, make sure you bring your checkbook. You are going to need to write a check for an earnest deposit. As we discussed before, this amount can vary with the price of the home, but should be enough to let the seller know that you are serious.

When you get there, or before, your real estate agent (if they’re a buyer’s agent) should do some research and be able to present you with some comps in the area to help you decide on a fair offer. Most will not suggest an offer price to you, but will help guide you in the right direction. If they feel your offer is way too low and will offend the seller, they should & will let you know. You’ve all been walking through homes in the area and will have an idea of asking price on the ones you walked through. But an educated buyer needs to know about recent sales in the area to come up with a fair offer. This is where a real estate agent really comes in handy.

Now, if you’ve been told there’s multiple offers being submitted on the property, you will need to figure out what the highest price is that you are willing to pay for the home and offer somewhere around that price. We call it ‘highest and best’. The agent working for the seller is also going to point out different things to the seller like seller-paid closing costs, strength and feasibility of your loan, the size of your earnest deposit, etc. Don’t be afraid to ask for things like closings costs when there’s multiple offers, just keep in mind what the seller will ‘net’ off your offer.

If there’s not multiple offers, then you will just get together with your agent, determine your offer price, sign all the paperwork, give your agent your earnest money check, get copies of your paperwork….and WAIT.

The seller will do one of 3 things; reject your offer, accept your offer or counter. When you get the price and terms all worked out, the clock starts ticking. Your real estate agent will likely suggest that you do inspections on the home. Your earnest money will be deposited into a trust account. Your lender will start working on your file. The real estate agent will be in charge of getting your contract to your lender and to the title company of your choice. You, as the buyer, will be in charge of choosing someone to do the inspections that you’d like to have done on the home. There’s all sorts of inspections for radon gas, termites, whole house, structural, etc. The inspection period is also the time that you should call your insurance provider and discuss your new home to be sure it’s insurable. In Missouri/Kansas, inspection periods usually consist of about 10 days, but can be more or less as agreed upon by buyer and seller. Your inspection will need to be paid for at the time the home is inspected ($300-$400) and be prepared to spend about 2-3 hours at the home with the inspector.

The inspector will point out serious issues if there are any, and also safety issues and minor concerns. Usually, you’ll have the chance to ask the seller to repair any major issues with the home. Sometimes homes are sold as-is, and if there’s a major concern you would just cancel the contract. Keep in mind that if you’re asking for something to be fixed, this is a re-negotiation period and the seller has the right to cancel the contract as well. Do your best to only focus on the issues that are of great concern to you and work with the seller on what needs to be repaired. If the inspector turns up something that makes you afraid to buy the home, you do have the right to cancel your contract and walk away. Our contracts state that you will get your earnest money back, but real estate agents don’t enforce the contract.

During the time between contract and close, your lender may be asking you for additional items for your file. Do your very best to get these to the lender in a timely manner. If you don’t have the ability to fax during the day, drop the documents off with your real estate agent and they will be more than happy to send them to the lender for you. Also, this is NOT the time to go and buy a new car or get furniture on credit. Everything you do between contract and close will be watched by the underwriter. Don’t run up those credit cards or take a bunch of money out of your checking account, etc. Wait until you’ve closed and gotten the keys to your home to do those things. We’ve watched buyers lose homes for years over something as simple as putting a refrigerator on a credit card before closing. If you have a question about anything like this, feel free to call your lender or real estate agent and ask their advice. This is what we’re here for.

Next blog: Buying your first home; Closing Day.

Disclaimer: We sell real estate in Missouri and Kansas. Laws and contracts will vary from state to state.

Buying your first home, How To Hunt

20 Monday May 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

Now that you’re ready to start searching, it’s time to figure out your method.

There’s websites, open houses, hiring a buyers agent, driving around on your own, etc. At last count, 94% of homebuyers start their search on the internet and actually take about 8 months before finally closing on a home. That’s a lot of searching.

If you begin your search on the internet, you might want to choose the website wisely. Some will start on Realtor.com because it seems so robust. I’d like to offer you a bit of different advice…we’ll call it an ‘insider’s tip’. Chat with your friends for a minute, either in person or via Facebook, email, Twitter, etc. See if they’ve had an incredible experience with an agent or particular company that they would like to recommend to you. If you do get a good recommendation, go to that agent’s website and use their site to search. Didn’t get any good recommendations? Take a glance at the companies in your area and check out their websites. If you like one in particular, you can either search through agent bios and pick one you think would be a good fit, or you can just start searching and you’ll be randomly assigned to an agent in the company. No worries, if you feel like you’ve gotten stuck with someone you don’t like, you don’t really have to use them. You are more than free to find someone else. What happens onRealtor.com is that you get assigned to whatever agent has the listing you’ve clicked on.

Customers like the internet because they feel they can search without being hounded by an agent. Agents like the internet because their customers feel so comfortable searching on it. It’s a win-win. Feel free to tell whatever agent you’ve gotten in contact with your situation. For example, if you’re not quite sure what you’re doing, but would like to continue to search the web—-that’s just fine. We, as agents, just don’t want to run the risk of YOU feeling like we’re not there for you or not interested, so we try to contact you and find out your intentions. It’s all really harmless and nothing to be scared of.

If you’re more of the ‘driving around’ type, you will find quite a few open houses to go through on the weekends. Some websites now even show all the open houses in the area to help cut down on your drive time (and to make you like our site better). Open houses are nice…the agent will usually ask you to sign in. If you’re working with a buyer’s agent already or know someone you’re going to work with, just let the open house agent know. If you don’t have an agent yet, check out the one at the open house and see if they might be a good fit. The one thing you do know is that they’re a hard-working, dependable agent if they’re hosting an open house on the weekend. There’s nothing wrong with taking a minute to be friendly and see if you like them—-that’s what they want!! If you like them, take their info and give them a call when you’re ready. Mostly we hold open houses to make our sellers happy and to try and meet potential buyers. Most buyers don’t buy the home that’s being held open, so don’t feel bad about not liking the home and giving some good, honest feedback.

If you’d like to make things easier on yourself & faster, hiring a buyer’s agent from the beginning is definitely for you. A good buyer’s agent will take the time to chat with you, learn exactly what you’d like, advise you, and take you through any home you’re interested in viewing. In most states, hiring a buyer’s agent doesn’t cost you anything…they are paid by the seller at closing. Some companies may have an extra brokerage commission they charge buyers, but that is also usually paid at close. It takes a lot of faith for an agent to take you out and show you 30 homes without asking you to sign a buyer’s agency agreement. See, that agreement proves to others that we have a relationship with you and it helps guarantee that we’re going to be paid for our time and effort. Now, if you’ve met an agent and gone to a couple of houses with them and you find that you don’t really like them, please let them know…don’t just disappear. If you’re not comfortable telling them, call their broker and explain; maybe ask for a recommendation on someone else. We would prefer to know what we need to improve as opposed to wondering where in the world you went.

In Missouri, if you drive around and call the agent on the sign, and you’d like to work with that agent to buy the home they have listed; they will work for you as a Disclosed Dual Agent. This means they’re representing the best interest of both parties and keeping confidential information, confidential. In Kansas, they will be a transaction broker. Either way, if you’re comfortable working with the same agent the sellers are using, by all means, do so. If you’d rather have your own person looking out for your best interest, hire a buyer’s agent.

Next blog: Buying your first home, when you find THE ONE

Disclaimer: We sell real estate in Missouri and Kansas. Laws and contracts will vary from state to state.

Buying your first home, beginning the hunt

20 Monday May 2013

Posted by JoannaGWilliams in Home Buyer Advice

≈ Leave a comment

Tags

buying a home, first time homebuyer

This is the probably the largest purchase you’ve ever made…gear up with some real world knowledge before starting the hunt.

First off, most first-time homebuyers are so excited to walk through homes that they skip a step. Go get pre-approved for a loan, before even looking at one home. What tends to happen is that the homebuyer does the math and thinks they can afford a $150,000 home, and they go start looking at $150,000 homes. They find one they love and then try to get pre-approved. Come to find out, the most comfortable payment for the buyer is actually a $120,000 home. Then, all the $120,000 homes are nowhere near as nice as the $150,000 home and the buyer and real estate agent both start getting frustrated. The buyer decides to keep renting and what started as a really fun experience becomes a bad memory.

Second, take stock. Take a good look at your furniture, your current residence, and the money you have in reserves. Your furniture is important, if you like it, because it’s going to need to fit in your new home. Your current residence; are you comfortable? Do you need a fence? Need an office? Make a list of your needs, must haves and things you’d like to have…and share that list with your real estate agent. Save the list to your cell phone to remind yourself of the things that are really important to you. Next, cash reserve. Since you’ve met with a lender, you’re going to have an idea of how much money you need to have for closing costs and/or a down payment. But, a few things you might not be thinking about are: earnest money and money for inspections.

Earnest money is just that, money that shows the seller of the home how ‘earnest’ you are about buying the home. The most misunderstood thing about earnest money is what happens to it. When you decide it’s time to submit an offer, discuss an appropriate amount of earnest money with your real estate agent. $250, $500, $1000 and up. The amount of earnest money and down payment help show that you’re serious and your offer is strong. You will write a check (usually to a title or real estate company) and give it to your real estate agent when you’re writing up the offer. Your agent will take a copy of the check and send the copy to the listing agent with your offer. If your offer is accepted, the earnest money will be deposited and held in an escrow account until closing. At close, it will be applied towards your new home.

Next blog: Buying your first home, how to hunt

Disclaimer: We sell real estate in Missouri and Kansas. Laws and contracts will vary from state to state.

Recent Posts

  • Success equals Generosity
  • Serving the Newbies
  • Obligatory Back Scratching
  • Where are your Manners?
  • Compliment Much?

Topics

Archives

  • June 2019
  • October 2018
  • April 2018
  • November 2017
  • July 2017
  • March 2017
  • January 2017
  • October 2016
  • June 2016
  • May 2016
  • March 2016
  • February 2016
  • November 2015
  • September 2015
  • August 2015
  • July 2015
  • May 2015
  • April 2015
  • January 2015
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • September 2010
  • August 2010
  • July 2010

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

The Gist

JoannaGWilliams

JoannaGWilliams

Joanna jumped into the real estate business in 2000 and never looked back. A glance through her resume would have anyone confused because she’s actually never left the company with which she started. Change in the market and changes in ownership and locations have filled her 13 years in the real estate world. Change is a scary word for some, but Joanna has embraced it with courage and made the decision to not only survive, but to thrive. To break it down Prudential Snook was sold to Prudential Carter-Duffey in 2006, which was sold to Prudential Kansas City in 2009, which then rebranded themselves with a new franchise (Better Homes and Gardens Real Estate) in late 2012. Her personal motto is ‘Consistent Pursuit of Improvement’, which is clear in her dedication to her company, people and local real estate association.

View Full Profile →

Create a free website or blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy