It’s always hard to predict the future, especially with the housing market. But one thing is for sure – real estate remains a sound investment. If you’re looking for your dream home, here are some tips to help set you up for success and guide you through this buying season.

Assess Your Financial Health
Before you fall in love with your dream home, make sure you’re prepared to purchase it. Take a look at your bank accounts along with your monthly spending, so you have a clear and realistic picture of your finances. This will also help you figure out how much you can afford to put toward a down payment. It’s also a good time to check your credit score. Most importantly, you’ll want to meet with a loan officer to get pre-approved, so sellers take you seriously and you’re in a better position to make a strong offer.

Tip: A pre-approval gives you more negotiating power because it tells the seller and real estate agent that your funding is in place and ready to go.

 Stay Flexible
Whether it’s time or money, be prepared to give a little more. Say for instance, there’s competition on a house and you’ve been outbid, but you have the flexibility to give the seller the extra time they need to close and move out. That can make a huge difference and could even put you ahead of the competition. Showing the seller that you’re willing to go the extra mile to purchase their home could earn your offer a second glance, especially if it helps make their life easier.

 Tip: Try to refrain from asking for favors. This is not the time to ask the seller to give you the refrigerator or washer and dryer, part with playset or paint the front door.

 You Found the One
You found a home that meets all or most of your wish list, it’s within your price range and you’ve stalked the neighborhood to make sure it’s right for you. Now’s the time to make an offer. Keep in mind that your opening offer should be based on two things: what you can afford and what you really believe the property is worth. Sure, there’s always a possibility that there will be other offers, regardless of the time of year and the market, but try not to let that influence you to pay more than you should.

Tip: Offer more earnest money. While it’s not always required, it could help you stand out in this competitive housing market. Sellers like buyers that make these good faith deposits because they want assurance that the sale won’t fall through.

Buying a new home is an exciting time and can also be a stressful time, but if you’re prepared and keep these tips in mind, you should find it a much smoother process. And finally getting the keys to your new home makes it all worth it!

 

184 Things I Do for Real Estate Clients.

Your real estate agent play’s a critical role in the real estate transaction.

The general public is not always aware of all the service agents provide to both buyers and sellers during the course of a transaction probably because most of these important services are performed behind the scenes.

Pre-listing activities
1. Make appointment with seller for listing presentation.

2. Send a written or e-mail confirmation of appointment and call to confirm.

3. Review appointment questions.

4. Research all comparable currently listed properties.

5. Research sales activity for past 18 months from MLS and public databases.

6. Research “average days on market” for properties similar in type, price and location.

7. Download and review property tax roll information.

8. Prepare “comparable market analysis” (CMA) to establish market value.

9. Obtain copy of subdivision plat/complex layout.

10. Research property’s ownership and deed type.

11. Research property’s public record information for lot size and dimensions.

12. Verify legal description.

13. Research property’s land use coding and deed restrictions.

14. Research property’s current use and zoning.

15. Verify legal names of owner(s) in county’s public property records.

16. Prepare listing presentation package with above materials.

17. Perform exterior “curb appeal assessment” of subject property.

18. Compile and assemble formal file on property.

19. Confirm current public schools and explain their impact on market value.

20. Review listing appointment checklist to ensure completion of all tasks.

Listing appointment presentation
21. Give seller an overview of current market conditions and projections.

22. Review agent and company credentials and accomplishments.

23. Present company’s profile and position or “niche” in the marketplace.

24. Present CMA results, including comparables, solds, current listings and expireds.

25. Offer professional pricing strategy based and interpretation of current market conditions.

26. Discuss goals to market effectively.

27. Explain market power and benefits of multiple listing service.

28. Explain market power of Web marketing, IDX, and REALTOR.com.

29. Explain the work the broker and agent do “behind the scenes” and agent’s availability on weekends.

30. Explain agent’s role in screening qualified buyers to protect against curiosity seekers.

31. Present and discuss strategic master marketing plan.

32. Explain different agency relationships and determine seller’s preference.

33. Review all clauses in listing contract and obtain seller’s signature.

After listing agreement is signed
34. Review current title information.

35. Measure overall and heated square footage.

36. Measure interior room sizes.

37. Confirm lot size via owner’s copy of certified survey, if available.

38. Note any and all unrecorded property lines, agreements, easements.

39. Obtain house plans, if applicable and available.

40. Review house plans, make copy.

41. Order plat map for retention in property’s listing file.

42. Prepare showing instructions for buyers’ agents and agree on showing time with seller.

43. Obtain current mortgage loan(s) information: companies and account numbers.

44. Verify current loan information with lender(s).

45. Check assumable loan(s) and any special requirements.

46. Discuss possible buyer financing alternatives and options with seller.

47. Review current appraisal if available.

48. Identify Homeowner Association manager is applicable.

49. Verify Homeowner Association fees with manager–mandatory or optional and current annual fee.

50. Order copy of Homeowner Association bylaws, if applicable.

51. Research electricity availability and supplier’s name and phone number.

52. Calculate average utility usage from last 12 months of bills.

53. Research and verify city sewer/septic tank system.

54. Calculate average water system fees or rates from last 12 months of bills.

55. Or confirm well status, depth and output from Well Report.

56. Research/verify natural gas availability, supplier’s name and phone number.

57. Verify security system, term of service and whether owned or leased.

58. Verify if seller has transferable Termite Bond.

59. Ascertain need for lead-based paint disclosure.

60. Prepare detailed list of property amenities and assess market impact.

61. Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”

62. Complete list of completed repairs and maintenance items.

63. Send “Vacancy Checklist” to seller if property is vacant.

64. Explain benefits of Homeowner Warranty to seller.

65. Assist sellers with completion and submission of Homeowner Warranty application.

66. When received, place Homeowner Warranty in property file for conveyance at time of sale.

67. Have extra key made for lockbox.

68. Verify if property has rental units involved. And if so:

69. Make copies of all leases for retention in listing file.

70. Verify all rents and deposits.

71. Inform tenants of listing and discuss how showings will be handled.

72. Arrange for yard sign installation.

73. Assist seller with completion of Seller’s Disclosure form.

74. Complete “new listing checklist.”

75. Review results of Curb Appeal Assessment with seller and suggest improvements for saleability.

76. Review results of Interior Decor Assessment and suggest changes to shorten time on market.

77. Load listing time into transaction management software.

Entering property in MLS database
78. Prepare MLS Profile Sheet–agent is responsible for “quality control” and accuracy of listing data.

79. Enter property data from Profile Sheet into MLS listing database.

80. Proofread MLS database listing for accuracy, including property placement in mapping function.

81. Add property to company’s Active Listings.

82. Provide seller with signed copies of Listing Agreement and MLS Profile Data Form within 48 hours.

83. Take more photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography.

Marketing the listing
84. Create print and Internet ads with seller’s input.

85. Coordinate showings with owners, tenants and other agents. Return all calls–weekends included.

86. Install electronic lock box. Program with agreed-upon showing time windows.

87. Prepare mailing and contact list.

88. Generate mail-merge letters to contact list.

89. Order “Just Listed” labels and reports.

90. Prepare flyers and feedback forms.

91. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.

92. Prepare property marketing brochure for seller’s review.

93. Arrange for printing or copying of supply of marketing brochures or flyers.

94. Place marketing brochures in all company agent mailboxes.

95. Upload listing to company and agent Internet sites, if applicable.

96. Mail “Just Listed” notice to all neighborhood residents.

97. Advise Network Referral Program of listing.

98. Provide marketing data to buyers from international relocation networks.

99. Provide marketing data to buyers coming from referral network.

100. Provide “Special Feature” cards from marketing, if applicable.

101. Submit ads to company’s participating Internet real estate sites.

102. Convey price changes promptly to all Internet groups.

103. Reprint/supply brochures promptly as needed.

104. Review and update loan information in MLS as required.

105. Send feedback e-mails/faxes to buyers’ agents after showings.

106. Review weekly Market Study.

107. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.

108. Place regular weekly update calls to seller to discuss marketing and pricing.

109. Promptly enter price changes in MLS listings database.

The offer and the contract
110. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.

111. Evaluate offer(s) and prepare “net sheet” on each for owner to compare.

112. Counsel seller on offers. Explain merits and weakness of each component of each offer.

113. Contact buyers’ agents to review buyer’s qualifications and discuss offer.

114. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.

115. Confirm buyer is pre-qualified by calling loan officer.

116. Obtain pre-qualification letter on buyer from loan officer.

117. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.

118. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.

119. Fax copies of contract and all addendum’s to closing attorney or title company.

120. When Offer-to-Purchase contract is accepted and signed by seller, deliver to buyer’s agent.

121. Record and promptly deposit buyer’s money into escrow account.

122. Disseminate “Under-Contract Showing Restrictions” as seller requests.

123. Deliver copies of fully signed Offer to Purchase contract to sellers.

124. Fax/deliver copies of Offer to Purchase contract to selling agent.

125. Fax copies of Offer to Purchase contract to lender.

126. Provide copies of signed Offer to Purchase contract for office file.

127. Advise seller in handling additional offers to purchase submitted between contract and closing.

128. Change MLS status to “Sale Pending.”

129. Update transaction management program to show “Sale Pending.”

130. Review buyer’s credit report results–Advise seller of worst and best case scenarios.

131. Provide credit report information to seller if property is to be seller-financed.

132. Assist buyer with obtaining financing and follow up as necessary.

133. Coordinate with lender on discount points being locked in with dates.

134. Deliver unrecorded property information to buyer.

135. Order septic inspection, if applicable.

136. Receive and review septic system report and access any impact on sale.

137. Deliver copy of septic system inspection report to lender and buyer.

138. Deliver well flow test report copies to lender, buyer and listing file.

139. Verify termite inspection ordered.

140. Verify mold inspection ordered, if required.

Tracking the loan process
141. Confirm return of verification’s of deposit and buyer’s employment.

142. Follow loan processing through to the underwriter.

143. Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale.

144. Contact lender weekly to ensure processing is on track.

145. Relay final approval of buyer’s loan application to seller.

Home inspection
146. Coordinate buyer’s professional home inspection with seller.

147. Review home inspector’s report.

148. Enter completion into transaction management tracking software program.

149. Explain seller’s responsibilities of loan limits and interpret any clauses in the contract.

150. Ensure seller’s compliance with home inspection clause requirements.

151. Assist seller with identifying and negotiating with trustworthy contractors for required repairs.

152. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

The Appraisal
153. Schedule appraisal.

154. Provide comparable sales used in market pricing to appraiser.

155. Follow up on appraisal.

156. Enter completion into transaction management program.

157. Assist seller in questioning appraisal report if it seems too low.

Closing preparations and duties
158. Make sure contract is signed by all parties.

159. Coordinate closing process with buyer’s agent and lender.

160. Update closing forms and files.

161. Ensure all parties have all forms and information needed to close the sale.

162. Select location for closing.

163. Confirm closing date and time and notify all parties.

164. Solve any title problems (boundary disputes, easements, etc.) or in obtaining death certificates.

165. Work with buyer’s agent in scheduling and conducting buyer’s final walk through prior to closing.

166. Research all tax, HOA, utility and other applicable prorations.

167. Request final closing figures from closing agent (attorney or title company).

168. Receive and carefully review closing figures to ensure accuracy.

169. Forward verified closing figures to buyer’s agent.

170. Request copy of closing documents from closing agent.

171. Confirm the buyer and buyer’s agent received title insurance commitment.

172. Provide “Home Owners Warranty” for availability at closing.

173. Review all closing documents carefully for errors.

174. Forward closing documents to absentee seller as requested.

175. Review documents with closing agent (attorney).

176. Provide earnest money deposit from escrow account to closing agent.

177. Coordinate closing with seller’s next purchase, resolving timing issues.

178. Have a “no surprises” closing so that seller receives a net proceeds check at closing.

179. Refer sellers to one of the best agents at their destination, if applicable.

180. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.

181. Close out listing in transaction management program.

Follow-up after closing
182. Answer questions about filing claims with Homeowner Warranty company, if requested.

183. Attempt to clarify and resolve any repair conflicts if buyer is dissatisfied.

184. Respond to any follow-up calls and provide any additional information required from office files.

Courtesy of Adwerx blog.

REAL ESTATE NEWS JUNE 2022
Brought to you by Debbie Marett GRI Realtor®

Your referrals are always appreciated and treated with friendly, professional care

Housing Market Still Favors Sellers–but has it Set to a Change?

Ever since interest rates decreased at the beginning of the pandemic, the real estate market throughout most of the country has heavily favored sellers. When interest rates decrease, more buyers enter the market to secure mortgage loans with low interest rates. High buyer demand means that sellers oftentimes receive multiple bids.

The combination of low interest rates, extremely quick sales, low inventory, and rapidly increasing price gains, has the housing market favoring sellers by a considerable amount. While this is still true today, market conditions may be set to change in the near future.

What the Future Indicates for Buyers
Over the past six months, interest rates have been steadily increasing. While rates averaged around 3.05% towards the end of 2021, they have since increased to an average of 5.10% as of May. Even though there are still a high number of potential buyers on the market, the higher interest rates have allowed the market to stabilize somewhat.

Keep in mind that home values rose by upwards of 20% over the course of 2021, which means that buying a home today may be somewhat more expensive than it was just one year ago. If you’re set to buy a home, the housing market pivoting away from sellers is highly beneficial.

While home prices may have been lower one year ago, the increased buyer competition in the market made it difficult for many buyers to make bids that were high enough to satisfy the seller. Once demand decreases among buyers, home inventory will increase, which means that you may find it easier to purchase a home without needing to make an offer that’s far higher than the listing price.

In general, you should expect demand to still be relatively high and housing inventory to be relatively low. However, both of these metrics have improved in recent months, which means that the market shouldn’t be as intense as it was in 2021. Home prices are also expected to rise this year but shouldn’t come close to the 20% increase that occurred last year.

What the Future Indicates for Sellers
If you’re looking to sell your home but worry that the market may not be favorable for doing so, the truth is that the housing market still favors sellers. The main difference is that there may not be a lengthy bidding war when you list your home on the market. However, sellers still hold ample amounts of negotiating power when an offer is made. If you want to make sure that your home is sold without delay, perform any necessary upgrades and repairs before placing your home on the market.

While it’s unlikely that the housing market will shift completely to favoring buyers, it’s looking increasingly likely that the market will be more balanced over the next year or so. A balanced and healthy market is great for buyers and sellers alike.

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An open letter to sellers about today’s housing market

This is a great takeaway on the current state of our market and some tips!
May 16, 2022 By Ryan Lundquist 

Some key takeaways:

1) You’ve lost power: The market is still competitive, but it’s not what it was in February. The truth is buyers have gained more power lately. Most agents say they are easily getting about half as many offers compared to a few months ago. So, instead of getting eight offers, you might only get a few. And if you’re priced too high, you’ll probably get zero offers.

2) Buyers are growing more sensitive: Mortgage rates skyrocketing means affordability has taken a beating, in other words, if they are paying top dollar, they are growing pickier about what they buy.

3) Don’t aim for unicorns: Be careful of the idea of a unicorn buyer who is going to swoop in, ignore the comps, and pay top dollar in cash for your home.

5) Avoid strongarm moves: Buyers are picky about getting into contract AND staying in contract. Sellers asking “Remove the appraisal contingency, pay me an extra $25,000, and give me your firstborn child.” These things still happen in some price ranges (okay, not the child thing), but the market is starting to see just a little bit more sanity lately.

6) Be ready to negotiate: Listen to what buyers are asking for, and help the deal feel good for them too. This isn’t just about you.

7) It’s not time to push the price: Look, sellers aren’t entitled to always netting more than recent sales. Price reasonably and see what the market gives you. There are some situations where you might need to price lower than recent sales too to generate interest. Forget about record-breaking sales or your overpriced neighbor. What is getting into contract right now? That’s the ONLY thing that matters.

8) Tighten up the details: Buyers have become more sensitive about condition, so it can help to address minor cosmetic repairs before you hit the market (if you can). Buyers notice details, and solving minor issues only helps give them fewer reasons to say NO.

9) The market is softening: Talk to your agent about the temperature and be in tune with signs of softening. As you see stuff like this, let it influence your strategy for pricing and negotiating.

10) Don’t expect to go $100,000 over: “The temperature has changed,” or “It’s still competitive, but it’s not what it was.” On that note, don’t be afraid to reduce the price if needed. You are not giving up value if value wasn’t ever there in the first place.

For the entire article visit

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How to Spruce Up your Place for a Summer Sale

If you’re interested in putting your home on the market, doing so during the warm summer months is a great idea. Once temperatures increase and plants begin to grow, it’s much easier to enhance a home’s curb appeal. Pair those curb enhancements with some interior upgrades and you’ll be on your way to a speedy summer sale.

Address Curb Appeal with Easy Tasks
When you want to spruce your place up, you should first devote some of your attention to addressing your home’s curb appeal. Your home’s exterior will be the first thing that potential buyers see when they visit your home. Making a good first impression is essential towards converting prospective buyers into legitimate offers.

Consider giving your front door a fresh coat of paint. Use bright colors like yellow or red to set the scene for the warmer summer months. If the door is relatively old, you may want to replace it entirely to get a better return on your investment. Make sure that your lawn is kept freshly mowed and that any noticeable weeds are pulled.

Consider New Appliances and Bathroom Upgrades
The two most important rooms for most buyers are the kitchen and the bathroom. You could enhance the appeal of your home by upgrading bathroom amenities or purchasing new kitchen appliances. In fact, stainless steel appliances are particularly tempting to new buyers according to a recent survey by HomeLight. You might also consider painting these rooms in a light neutral color to reflect more light and make them appear bigger.

As for bathroom upgrades, you could replace your lighting, paint your vanity, or upgrade your faucets. Even small touches like adding a nice rug or installing a beautiful shower curtain could enhance your home’s appearance.

Don’t Forget to Stage your Home
If you want potential buyers to be interested in your home, they need to be able to envision living there while they tour your property, which means that the place shouldn’t be completely empty. It’s also important that your home is free of clutter and doesn’t include too many personal items. If you’re finding it difficult to properly stage your home, consider hiring a staging professional.

Add Some Plants and Artwork
During the hot summer months, your home interior should have a cool and calm atmosphere. You can achieve this environment by using cooler paint hues, adding some indoor plants, and hanging calming artwork. Travel and aquatic-themed pieces are a great choice during the summer.

Whether you’re ready to sell this summer or a year from now, I can help you decide which improvements make the most sense for your property – call me anytime!

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Please allow me to be your “Go To” source for information on the market. You are welcome to call or email me at any time if I can be of service in any way!

Visit my blog for articles and insight to the market.

You should know the value of your home! Find out what it is worth in the market today.

If you would like to receive a complimentary custom evaluation of your home, including comparisons to other homes that have recently sold, are on the market, or to request a market snapshot of your neighborhood please reach out

You can also email me at: dmarett@cbunited.com

 How is the Market?   Real Estate Snapshot & Market Reports

Are you a buyer or seller who consistently needs to know what is happening in your market area? Here is a way that you can subscribe to real time accurate data on your area, neighborhood or county.
https://austxrealestate.com/market-reports

Burnet County  – Travis County – Williamson County – Hays County

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