The LOVELY Winter Blues of Real Estate - Bring Color to the Curb

I cringe everytime I hear someone say "well its winter, nothing sells in winter, right?"    This is simply NOT true.  Grab a bar of soap and wash that out of your ears..right now.

While many real estate agents are cozying down for the winter months, I'm researching waterproof snow boots and fingerless gloves so I can trek my buyers to and from houses while wielding stats from my smartphone.  Yes, I said buyers.  Buyers in winter are not mythical creatures like unicorns and live-in baristas.  They are real, and they are serious! And you are not a hibernating bear.

So here are my Top 5 Things I say to those needing to sell in winter but may have been brainwashed by the market.

1. BUYERS ARE STILL OUT!  Albeit not quite as many as in summer, but let me tell you who isn't getting out into the snow and cold to look at homes.
             1. First time homebuyers who aren't quite sure they want to buy yet (or any buyer for that matter who is undecided).  They get out in the summer months and dream about having that back patio for summer bbq's, but their credit just isn't quite right, they don't quite have enough for the down payment and all the other fees. In the summer they flutter around looking and dreaming and wince when their agent keeps begging for that prequal letter.  Come fall they say "well, after Christmas we'll file our taxes, yadda yadda, yadda" 
            2.   Lookie-loos.  They are different than those undecided.  These are the people that have no intention in buying a house, whether they know it or not.  They migrate from open house to open house eating all the cookies and criticizing their neighbors choice of wallpaper.

2. WINTER BUYERS ARE SERIOUS!  So serious they are getting out in unfavorable weather conditions looking for that cozy place to call home.  For whatever the reason, they have to move.  They may be a thin herd, but they need homes.

3. NO COMPETITION!  Since no one really reads this blog, there are still many people out there who have been told by hibernating agents "just wait until spring."  I've already explained there are hungry needy buyers out there and when everyone is keeping their house off the market in the winter, buyers have nothing to chose from!  I say take advantage of the slim competition! Wear that lawn sign like a beacon on a foggy night!!   Get it sold!  It definitely won't sell if you don't list it. 

3. TIME TO DRESS UP FOR THE WINTER BALL! Now that you have been convinced to list your home in the winter. Time to put on the pretty dress. Curb Appeal is tricky with dormant landscaping.  Freshen the mulch, add some stones, bring in some potted evergreens, and rake the leaves!  Dress up your porch with some bright outdoor vases and pots, even if they aren't filled. Maybe even paint the front door a fun color.   Color is necessary.
 

 

4. MAKE THEM WANT TO STAY! Have a fire place? Turn it on. Bake some cookies about an hour before their showing.  Leave all the lights on for the showing and make sure the heat is on. They don't want to go back out into the cold, they want to curl up by that fire and write a contract.  If you have to sell a vacant house, leaving the utilities on is a must.  Not only will it keep you from having your pipes explode without you knowing.  It allows people to spend more time in your house.  I spent one winter showing a client so many empty and vacant houses that didn't have heat and it was miserable.  He needed a house, so we were out, but being cold had us zipping through the house making quick decisions.  Give people a nice cozy place to really look at your home.

5. PRICE IT RIGHT! This isn't a winter tip. There is no winter or summer pricing.  I just add this to the list because its the most important thing.  You can dress your home up all you want, but if you aren't being realistic about what your home is worth then it wont sell. Pricing isn't an exact science. Sometimes we get it wrong. This is why you have to listen to the market.  Pay attention to what is happening.  If you aren't getting any showings (even in winter) you are grossly over priced.  If you are getting lots of showings and no offers, then you are still a bit off on price and really need to evaluate if there is something physically wrong with the property. Then does it need to be fixed or do you need to lower your price to compensate?  The winter time is not the time to "test the market."  If you want to hike up the price to see if you can get a bite, you will have better waters to test in the summer.  Listing in the winter needs to be realistic. Buyers aren't going to get in the car on a cold Saturday to say "well lets just go see, maybe the cabinets are lined with 14K gold?"


So with all that I say crank up the fireplace, get out those snow shovels, ice salt and absorbent door mats. Throw some cookies in the oven and a little winter carol on the radio and lets sell a house!!
You can always call me for more information and tips! Let's Talk!

 

Selling Season is Just Around the Corner! Are you prepared?

Good 'ol Okie Mother Nature has given us a great taste of spring the last couple days, and though we were snapped back into winter, I couldn't help but let that sweet smell of spring air remind me that selling season is just around the corner! 

Soon there will be real estate signs popping up on every corner, lenders chirping, real estate agents buzzing, markets blooming, and buyers stretching those legs and smelling fresh paint!! 

But question is....will you be ready?!?!?

Will you be that stressed seller who let the calendar creep up on them, scrambling around to sweep out the garage, wrestling with that gutter that got full of fall leaves and winter ice, and left wondering "Where do I even start!!?" 

Have no fear, There is an agent near. 

February is the best time to call an agent and create that "Get Ready Checklist" so that you can get your house market ready, listed and sold quickly, so that you can get moved in time to enjoy those short summer months before we all go back into hibernation.  

 A Pre-Season Consultation will help you with the following areas:

1.  Home Inspection - Whether you have a professional inspector come out or you just do a general inspection yourself, you will need to look for major repair signs, such as sagging roofs, broken windows, plumbing leaks, chipping paint etc.  If you can see it with your untrained eye, chances are so can your buyers.  Going over your home will give you a good start to do some repairs to get your home market ready.

2. Price Comparisons - Do you not have any idea what your home would sell for?  In the Pre-Season Consultation you will learn what the homes have been selling for in your area and how that affects the sale of your home.  Getting an educated estimate of your home value will help you sell your home quickly while making sure that you are happy with the sales price. 

3. The Selling Process - If this is the first time you've ever sold a home, you probably have a million questions, and you probably will have many more as you go.  Building a good relationship with your agent should start as soon as possible.  Your agent should be providing you with a step-by-step plan to selling your home and make sure that you are comfortable with every step in that process. 

4. Spring Clean - No matter how long you have lived in the home you are planning to sell, there is always need for a good deep clean before you list your home.  Remember that buyers will be looking at your home with a magnifying glass.  Most hire professional cleaners to come in and get those long forgotten cracks and corners, but decluttering your home is very important and essential.  Moving is an inevitable part of selling your home, so why not start packing up those things that aren't necessary for everyday life.  An agent can help give wonderful tips for minimizing the items in your house so that you can provide a nice open space for buyers to get a good look at your home when they arrive.  Many sellers wait until just before or just after moving to have a garage sale.  I say you should have a garage sale right after you list your house!  Its a perfect opportunity to market your home!

5.  Plan of Action - A motivated agent will have you on a prep schedule and selling schedule so that you know what is happening when.  This schedule should include dates for pre-listing walk-through, staging appointment, photography appointment, listing day, open house dates.  If you are serious and aggressive about selling your house, make sure that you have an agent who matches your desire.  Having a good and well planned marketing strategy is very important!  And if they don't have one....Let's Talk!
 


Lora Newton
Keller Williams Realty Elite
405-308-3466

Things I Learned in My First Year of Real Estate

I'm a few months past my first anniversary, but I figured since we are starting off a new year I need a personal moment of reflection and then share.  Whether you are in real estate, a stay at home mom, a chemical engineer or a dog groomer, this could apply to anyone who finds themselves on a roller coaster.  We've all been there.

Before making grand resolutions to get my blood pumping for a fresh start to achieve goals, I'd like to first reflect on where I failed, where I succeeded and what I learned, so that I'm being realistic about what I need to arm myself with to get where I want to go. 

So, In no particular order, here is what caught my attention when I looked back. 

1.  If you don't stick to it, it will eventually stop. 
     Nothing on this planet moves without force.  The first part of last year I had extreme ambition driven by someone making a comment that I probably shouldn't be getting into real estate.  Like it was some part of the world I didn't belong working in.  I like to think anyone can do anything they want, but some have to work at things a little harder than others. Sometimes we have to adjust our technique to fit our talents, but in the end, we really can do what ever we want, if we just WORK hard for it, be passionate about it, and stick to it.

2.  You need to always learn. 
      Of course when you start out in any field, you need to learn about that field. But, when you feel you have mastered it, start over.  I guarantee you you missed something the first time, someone came up with a better idea, or your perspective has changed.  Either way, you will always learn something new, regardless of how long you've been at it.    And in Real Estate, you don't just learn about real estate...you learn about people.  Learn to stop talking, and listen.

3.   I do more than sell houses.  
      I learned very early on that I am not just selling houses. I'm not sitting on this listing appointment to learn about their house or just showing this buyer a home they might like...I'm here to find out what this process is going to do for their life.  Are they in a hurry because they are moving out of state?  Do they need to buy a new house so they can start a family?  Do they need something that is going to keep their budget free so they can focus on other things?  There is a story there that you really need to pay attention to.  This is also why I never will in a million years set a client up on an auto generated email of listings.  Get more personal!

4.  Always have attention to detail. 
      Nothing sucks worse than having someone point out a silly error.  Granted in the first year of doing anything there are going to be mistakes.  But as my father always said, "Accidents don't have to happen."   and they really don't.  Mistakes in real estate, most often end up in someone shelling out money they didn't have to.  Check and recheck, before you send the contract, before you snap a picture of someone's bra hanging on the door, before you promise something you can't deliver.  Pay attention. 

5.  I need a posse. 
     Successful people NEVER get there alone.  It just doesn't happen. I met some really good vendors and clients this year. Of course I'm always meeting new people who all share common interests and its great to build those relationships. It makes getting jobs done MUCH easier.  But I'm really talking about my other posse, my family and friends.  The parents that watch kids when we have to work weekends, the husband that does the after school run when I have a late closing, the family that sends me referrals, the friends that pour me a drink after a long day, and even the ones that just give us a hug or a smile.  Gratitude is never given enough, give more gratitude. 

6.  Have a Plan. 
     When I was at my most driven moments of last year, I can always remember planning.  Sitting with pen and paper in hand and doing a brain dump.  What do I need to do? What is it going to take to do it?  When can I do those things?  List after list to stay on track.  And then revert to #1.

7.  Health dictates everything. 
     I struggle with constant fatigue. It ruins 90% of my plans. I've had all sorts of blood work and tests and nothing has been "diagnosed"   I'm 100% certain that its all due to diet and exercise.  When I feel crappy, I am no good to anyone.  Body and Mind come first.  The worst thing I did last year was not spend enough time on myself.  My first and foremost resolution is to get up an hour before my kids do every morning so that I can set my system straight so I may conquer what I need to.

8.  You can't win it all. 
     The first time I was turned down for a listing I was so hurt.  I had just come off a major high from scoring a very big estate.  My listing presentation knocked it out of the park.  I was floating around on some sort of magic carpet of confidence that I thought "I'm the best real estate agent ever!"  And my next listing appointment pulled the rug right out from under me.  For the next week, I stalked the listing and would bark about mistakes in the listing to my husband.  It was pathetic.  But then it sold in like 6 days.  It took a really big effort to sit up and say they probably got the best agent they needed.  I swallowed my pride and learned a BIG lesson.  Sometimes, just sometimes, its not all about me. 

I really needed this moment of reflection.  I took the last few months off to deal with another business, completely remodel a house my family of 5 lived in, and enjoy the holidays.  I think reflection is the first step to personal growth. I feel many steps closer to getting where I need to be. 

That AH-HA moment....

Have you ever been walking along and things you really need just fall into your lap, or you just "wing-it" and finish your task with stellar quality and say "man that was a really good job"?   No? yeah, me either.  It seems we all need to work to get the end result we need.

I had a huge AH-HA moment last week that just really made me feel proud from the inside out.

I have been in the process of moving my family's home to a new house.  I had originally planned to take the week off to focus on getting our belongings moved.  But, in the life of a Real Estate Agent, that never fully means you are free from work.  There are always things going on with current contracts that you have to tend to, phone calls to answer, showing requests to confirm, and emails to read.  So when agents say "take time off" we really mean that we just aren't lead generating.  Because afterall - to stay afloat as an agent - lead generation consumes 80% of the work you do.

So mid-week last week I get a call from a neighbor to one of the houses I currently have listed.  On the phone we talked about his situation with he and his 4 other siblings selling his mother's house.  In the midst of the discussion I'm recalling the house he has and realize it is the best house in this highly sought-after neighborhood.  Now, regardless of the size of the house, I would have still made the appointment during my busy week, because, well, at the end of the day, work never stops.  At the end of the phone conversation he informs me that he is interviewing other agents as well.

Competition?  Hmmm, what do I have to show this prospect that others don't?  The wheels start turning.  What do I have that other's don't?

AH -HA!!

I have a marketing plan!   I have an education in marketing!  I have a passion for marketing!

So, I dropped my boxes, jumped in the shower, flew to the office and put my plan to paper.

Selling a house is way more than putting a sign in the yard and punching some quirky words into the MLS....its standing on a platform and shouting to the world "THIS HOUSE IS FOR SALE AND ITS FABULOUS!"

I devised a spectacular plan to market this client's house and I mapped it out for him in a 7 day schedule.  And the entire marketing plan was built to take place before the house even hit the market.

It's called the PRE-Marketing plan. 

I drove over to my client's house feeling nervous, excited, and curious all at the same time.  From the moment I stepped in I felt like I had complete control of the entire situation.  I went over each day's schedule of the Pre-Marketing Plan and let him know exactly what I was going to do to help sell his house quickly.   After all the questions were answered and I felt he understood the importance of things like a Neighbor's Only Open House, a Broker's Only Open House and double Open Houses on the weekend he looked at me and said "I interviewed 3 other agents for this house and it will be my recommendation to the other siblings that you sell our house" 

AH-HA!!!  PRIDE!  I felt proud and confident that I have achieved the one goal I set out when I first decided to get my real estate license.  That goal was to do it better.   And yes, I'm a new agent, and yes I have that new blind ambition, but there really IS a better way to do everything.  There are no rules.  Well, ok yes, there are rules, but there are no limits to creativity within those rules.  When you lack creativity or you tell yourself "that doesn't work" then you end up being the one that doesn't get picked.


Have a plan, have confidence in your plan, believe in your plan and then put the plan to action.

Houses should be sold with a plan.  If you want to see what that plan looks like, LET'S TALK!

The Lender of the Month! Gateway Mortgage

I just wrapped up a closing last week where Gateway Mortgage and their great team did a fantastic job with a client of mine who were using a VA loan to fund their purchase.  They knocked it out of the park for this couple.  As a real estate agent, one of the things that made Gateway stand out to me is that each Thursday Tom would call me and give me an update on the status of our file.  This goes far in my book.  I hate being left out of the loop.  When my client calls me and tells me about the hoops their lender are making them jump through and I don't know about it yet, its frustrating.

I had the chance to interview Tom Rosser at Gateway Mortgage and asked him some questions that I feel most home buyers want to know.

Name: Tom Rosser

Company: Gateway Mortgage Group

Your Team: The Rosser Team – Tom Rosser, Georgia Neil and Kimberly Jackson

How long have you been handling mortgages for home buyers? 31 years of combined mortgage banking experience

What do you love about your job? There are so many reasons I love my job;  I love the problem solving side of it when we are working with homebuyers that may not have ideal credit / income.  I love the competitive side of it when we are working with homebuyers that are comparing us to other mortgage lenders.  My favorite part would have to be the rewarding feeling at the closing table knowing we took excellent care of our clients and they enjoyed working with us through the homebuying process.

What are various types of loans Gateway Mortgage can offer home buyers?  We offer all the residential mortgage programs out there, FHA, VA, Conventional, USDA (Rural Development), 203K Rehabilitation loans, Construction loans, Native American Home Loans and Reverse Mortgages. 

What makes Gateway shine against other mortgage companies? We shine in so many ways - our level of service would be my first answer here.  We are very competitive with low rates and low costs so it comes down how we treat the people we are working with.  Our #1 goal is to WOW people with our service, our communication and with the overall experience they have with Gateway Mortgage Group.  In the Oklahoma market we shine because we are an Oklahoma company as well.  We originate, process, underwrite, close, fund and service our loans right here in Oklahoma. 

One important piece of advice to anyone considering getting a mortgage? Be prepared to document your income, assets and identity.  We are in a market that is highly regulated, in order to stay compliant you may be asked for documents that were not required when you purchased a home a few years or even a few months ago.    

What are today's interests rates?  Today’s rates vary depending on several factors including type of loan, term of loan, down pmt, credit score, etc…  The easy answer would be rates are generally in the 4’s for 30 year mortgages. 

If you could have one superhero power, what would it be?  Flying!  Would love to be able to get from one place to another quicker!

Other great things people should know about Gateway Mortgage?  We are an Oklahoma based mid-sized privately held Private Mortgage Bank.  We are here to help! 

Tom Rosser

OKC Branch Manager

NMLS# 273804

2200 NW 50^th Street

Oklahoma City, OK 73112

405-751-3800 (Office) / 405-445-7728 (Efax)

Thomas.Rosser@gatewayloan.com

www.gatewayokc.com

Basics of Buying

Buying a house does not have to be scary or complicated.  It should be one of the most rewarding things you can do for yourself.  If I had a do-over in life, I would have bought my first home as soon as I was old enough to qualify for a mortgage.  It is the number one investment you can count on and you get the luxury of living in a great home while you grow your money!  
Of course, as with all investments, its good to do your homework and have a knowledgeable agent to help you make a smart purchase. 

Each year, a well maintained home will help you build equity as you pay off your mortgage and as the house appreciates.  When its time to move, you cash in on that return!  If you rent, you walk away with nothing.  Owning your own home should be a serious consideration when planning for your future.

"But, Lora, I have no idea where to start!"  

First start with a Commitment to Saving:  Sometimes first-time home buyers don't realize that there are several upfront expenses that you will be required to pay. Earnest money, inspections, appraisal, down payments, and closing costs are just some of the basis fees you will be required to pay during the purchase period.  It is wise to start saving well in advance so that when you are ready, you will be able to get into the home you want.

Build a relationship with a Mortgage Lender:  This should be done at the same time you open your "first home" savings account.  A mortgage lender will go through your income and finances to let you know what amount they will lend you for a loan.  They will then be able to give you an ball park goal of what you need to have in your "first home" savings account when you begin the process of looking for a home. 

Build a relationship with a good Real Estate Agent:  A good agent will help you scout out the best home for your needs. This agent will represent your interests and make sure that you fully understand the process of buying a home.

When working with a new buyer, I like to sit down and give a full consultation of the home buying process to make it less intimidating and unknown.  There is nothing worse than being surprised with fees and paperwork when you least expect it.  The more comfortable you are, the more enjoyable the process will be. 


If you would like to learn more about the home buying process, call or email, Let's Talk! 

Selling your home? The most important thing to picture!

So you need to sell your home?  Whether you need to sell fast or whether you just want to put your house on the market to see what happens, the most important feature of selling your home is PHOTOS!

The number one thing that brings a buyer to your doorstep is its online presentation.  Yet, I continue to see houses listed for sale with only one exterior photo.  Never let anyone tell you that photos don't matter or "the mystery will bring them to see it person."   I'm a real estate agent, not a screenwriter for thrillers.  This never works and here is why:

When I work with a buyer who has given me a basic search criteria, I sit at the computer and I pull up roughly 60 houses that meet their needs.  Do I email them all 60?  No, they are busy people and its my job to not waste their time.  I'm going to go through and pick the best 5 houses and schedule showings for the week. They know that I'm not going to waste their time taking them through houses that don't meet her needs.  So if your house is in that 60 and there are no photos, chances are it won't make the top 5 cut.  We might only make it to that house if we've gone through the best 5, then the next best 5, and so on. Your house needs to be in the TOP 5!

A good house, when represented well on the internet, should cause your agent's phone to ring off the hook the first day. The first three or four evenings should be booked solid with showings. You are the new blood on the block! All the gophers are popping their heads up out of their holes and saying "What's that over there, I need to see that now!"

Ok so now you are saying "Well, Lora, my house is a fixer-up, nothing fancy to show here."  It doesn't matter.  Even if the walls are bare to the studs, a buyer, whether first time home buyer or investor, wants to be able to preview the house before they come over.  They want to see the spacial flow of the house and get a basic idea before they hop in their cars and drive over. 

When you work with an agent here are a list of things you need to make sure that your agent is doing to represent your home properly.

1.  How many photos of the house are they going to put up on the MLS listing? I'm going to let you cheat here and give you the answer.  20.  Their answer should be 20.  You have 20 spots for photos on the MLS.  No less. No More.

2. Are they paying attention to what they are taking pictures of?  Nothing is worse than seeing your agent's reflection in the bathroom mirror, seeing the toilet seat up, or forgetting to take your bra off the doorknob.  Your agent should give the room a thorough look through, move things out of the way that could be off-putting or land you on the "badMLSphotos" page on Facebook (and yes that's a thing).

3. Are they taking quality photos?  Not every agent needs to use a professional photographer, but every agent should be skilled in manning a camera.  Blurry photos are inexcusable.

4. Are they taking pictures of your house or of your furniture?  I saw a picture once (one of many actually, but this one sticks out)  Of nothing but a side table against a wall and the picture hanging above it.  There was no description of it being an entryway, hallway, kitchen wall, nothing.  It gave no clue as to the spacial orientation at all. Is the table being offered with the house? I'm not sure.  Needless to say, it didn't make the top 5.

5.  Will they send you a link to the online listing once it is available?  Check their work.  You are paying big bucks to have your home represented well and if they aren't, they need to!   Make sure the photos aren't sideways, make sure the order of the photos flow as if buyers are walking through the house, and most importantly make sure they are full size photos (there is a resizing tool in the entry page, you don't need a fancy photo app).  Do the photos have detailed descriptions?  Does the overall look of the listing give you a great feeling about your home?


At the end of the day, if you have 20 beautiful photos uploaded of your home and you still aren't getting showings - Let's Talk.