You Can’t Always Get What You Want – Or Can You?

You Can’t Always Get What You Want – Or Can You?

  We live in a world that we have so much at our fingertips. Get online at 9:00AM and have a new suit delivered to your door by noon. We can take virtual trips to the Grand Canyon while lying in bed in Indianapolis. We can even tour a house from our phone while standing in line at the coffee shop. So why, then, can be it sometimes be so difficult when it comes to actually buying that house we’ve been dreaming of? Perhaps you can’t always get what you want. There are a lot of factors at play. Maybe the app you have been using has outdated information and the house is already sold. Maybe the photographer did such a great job that the pictures are quite deceiving. Perhaps the description of spacious and meticulously maintained was very subjective. Or, just maybe, it isn’t for sale right now. The nation’s real estate market is currently experiencing low inventory. So, what do you do if just can’t find what you’re looking for? (There’s another song in there) There are several options depending on your budget. You can rent until that right place shows up – but you need to be ready for it. Make sure you can either get out of your lease with little consequence or sign a month-to-month lease. Another option is to buy a house in a location you love and renovate it to be exactly what you want. There may be plenty of things about it you like, and you can build on what’s already there. Lastly, you can build. Of course, you need to have the land, but if that’s available, it’s a great option. One word of warning, however, you still may not get exactly what you want. Why? Well, there are several reasons for that, too. Your lot may not be able to hold the size or shape of the exact home you want. There may be an HOA involved that will disallow one of your desires. It may just not be possible to have all the things you want in the size or style of house you choose. Your architect and builder are good sources for these questions before you get started. And lastly, we change what we want. In the beginning, we want a humble home on a nice lot bordering a creek. Then we grow, change, and see many more possibilities. We then want the 3000 square foot, 2-story “smart” home with an award-winning pool and trimmings that could stack up to any on Lifestyles of the Rich and Famous. Why am I prosing on not getting what you want? Because it’s just a house. They come and they...

Read More

Best Home Search App

Best Home Search App

  It seems like everyone is interested in real estate. Even if you’re not in the market to sell or buy, you’re probably curious. It is interesting to know what is going on around you. What did that house down the street sell for? Or you’re driving around on a Saturday afternoon and want to know what the house you just saw with a sign in the yard is listed for. Did you miss the house because you didn’t see it on the app you use? Are you late to the party because everything you look up was sold three months ago? Where do you search for real estate? Chances are, you get on your phone or tablet and open up an app. A lot of consumers I speak with say that they use apps such as Zillow or Trulia to search for properties and find sales prices and estimated values. But, there are a couple of reasons why apps and/or websites like these might not be the best ones for you. First of all, if you have been following my blogs, you have read “Is Zillow Accurate?” Secondly, apps and sites such as these are not real estate apps – they are marketing apps. They take your information and sell it. They use it to sell to lenders, real estate agents, etc. that pay for leads. Thirdly, some MLS areas have opted not to share listing information. I read one study that showed only 49% of the current MLS listings were showing up on these apps. That’s a LOT of homes not being seen by the consumer. So what is the alternative? Where do you search for real estate information that is up to date and accurate? I am glad you asked! If you live in Tennessee, download the HomeScout app. You can use the VIP code: 6159170139. It is linked directly to the local MLS in Middle Tennessee. If you live outside of Tennessee, contact me and I can get you set up in your area. This is the greatest tool that I have seen. It tells you the status of the property, how long it has been on the market, shows photos, provides school zones, room sizes, property taxes, how long it has been on the market, and more. You can make your own notes about the property, favorite properties to watch, and even schedule a showing. The other exciting part of this tool is that I can enroll current homeowners in an automated system that will provide comps for their area every 30 days. You can now be a nosey neighbor without anyone knowing. Or, even better, you can stay on top of the market...

Read More

Be a Team Player

Be a Team Player

  We are just off some major championships in sports. You know how important looking out for each other and assisting teammates is in that arena. Well, it is the same in real estate. If you sign a listing agreement with a Realtor, they will likely tell you how they will market your home. But what if you could reach a minimum of another 250 people? You want your house to be seen by as many people as possible, right? A good idea is to make sure your circle of friends and their friends knows your house is for sale. How do you do that? If your agent does any type of online or social media marketing, you can share it to all of your contacts on social media. If they don’t, ask for copies of the photos they have taken and post them everywhere. Take it a step further and ask a few friends to forward it or to post it to their social media contacts. Think how many people it will reach. All it takes is one person to see it and you never know who may know someone that is looking for exactly what you have to sell. In the same way, if you are looking for a house, let people know what you’re looking for. I have clients who are looking for a house in a very specific neighborhood. They have told all their friends what they are looking for. Friends that live in that neighborhood have access to a neighborhood group where homeowners often let others know they are going to sell, prior to it officially going on the market. They have been informed of a few houses that are about to come on the market. The great thing is that sometimes, your agent may be able to get you in to see it before the masses do. In hot markets, this could be the best chance you have at getting a house! Your agent may be the best in the world but in today’s world of social media and the internet, it is truly a team effort. They have their sphere and you have yours. Even if you are best friends or even family, you have a different sphere that you can tap into. Think about this: If you need a recommendation for a dry cleaner in the area, a plumber, or a summer camp for the kids, where do you go? Who do you ask? If you want to sell some housewares or find a pet sitter, what do you do? You probably head to the internet and most likely you go to social media. There are a multitude of neighborhood groups...

Read More

Uh Oh, It’s Magic

Uh Oh, It’s Magic

If you know me well, you know I love magicians. It fascinates me to watch good ones perform and stun their audience. Some seem to read your mind. Others seem to predict the future. I love to be freaked out and wonder, HOW DO THEY DO IT??? You will ask yourself the same thing when you work with a great Realtor. They make it look easy. They get things done. My job is to work behind the scenes to fix all the things that go wrong when selling or buying a home. What, you don’t think anything went wrong when you bought or sold your house? That’s probably because you had a great Realtor on your side. Things always go wrong. They are not always big things that can cause deals to be delayed or to fall through but, trust me, there is always something. Lenders get the wrong document signed, they somehow have the wrong close date or purchase price. Title companies find undisclosed tax liens on the property that is supposed to close in 5 days. A Seller takes a refrigerator that they were supposed to leave. An appraisal comes back low. A Buyer forgets to mention a bankruptcy. The list goes on and on. Some things can’t be fixed, but most can. Don’t give up. I have been able to get a major home builder to pay closing costs, and replace items they initially said they would not. Lenders have jumped through hoops. Title companies have gone to bat for clients and other agents have worked with their clients to come to amicable solutions. In the end, everyone wants the same thing. We all want the house to sell. Sellers want to sell it, Buyers want to buy it, and all the vendors want to be paid. Most Realtors don’t get paid until closing, therefore, they should do everything they can to find solutions for issues that arise. I have been asked if I can move a house to a different location. I actually do know people that can do that! Bottom line is, make sure you have realistic expectations of the magic that can be performed. Also, though, be satisfied that your real estate agent is working hard for you and if you’re not, get another...

Read More

Low Inventory Real Estate Market

Low Inventory Real Estate Market

  If you are like me, you live in a real estate market with very low inventory. What happens when you need more room, your kitchen is outdated, or you really want a swimming pool and you can’t find a house on the market that fits your needs? Or, maybe with the rising interest rates you found a great house but now the higher interest rates put it out of reach. If you currently own your home and your market has appreciated since you purchased, chances are you have equity. A great option is a home equity loan. There are many things you can do to improve your home or remodel to fit your current needs or desires. You might want to add a patio to give you more outdoor living space. You may want to add that swimming pool you’ve always wanted. Or you just might need a new roof. You may have heard about a home equity loan, but another option is a home renovation loan. There are FHA, VA, and conventional products. In a nutshell, these loans will allow you to renovate your home by lending on the improved value, not the current value. They can be a bit more complicated but if you have a loan officer and mortgage company that knows how to navigate the process, it can be a wonderful solution. Home renovation loans are great for those larger projects where you may be gutting kitchens and bathrooms or adding square footage. Of course, as a Realtor, I would hope we could find a house for you to buy that would fit your needs and be within budget, but it is not always possible, especially in a price range that is very popular. I have great vendors I work with that I recommend to clients for both types of loans. In fact, most of them can handle loans out of state so feel free to reach out if you can’t find your dream home but think you could make your current home work for a few more years with a little love. I am happy to refer you to professionals that can give you the hard facts about these loans and how they may work for...

Read More

You’re Not All That

You’re Not All That

  You’ve met them. Those people that the minute you meet them you know they think they were born to bless others with their presence. They think they can do nothing wrong and you are stupid if you think otherwise. Don’t you just want to tell them, “you’re not all that”? Yeah, it goes the same for some people in the real estate market. They think that their $20,000 under asking price, cash offer, first day on the market should make Sellers run to sign the papers and ask if they want all their furniture too. We have a great real estate market in the Nashville area. Over the past two years, I have taken many calls from real estate investors from other states that heard that Nashville was a great market and a great place to invest. They are looking for a “deal”. Well, those days are gone for now. Prices have risen, and Sellers are smart. I have had to explain to more than one person that while cash is great, if it doesn’t accompany a strong offer in other ways, it just might be “prince” instead of “king”. Certainly, there are circumstances where a cash offer makes most sense but if the offer price is a lowball offer, most Sellers will say, “No, thank you”. Think of it this way, if you are a Seller and your house is on the market for 2 days. You get two offers. One is for full price, is contingent on the Buyer’s 90% conventional loan and they are pre-approved by a reputable lender. The other offer is for $15,000 below asking price but is all cash. In most cases, Sellers would take the risk to make $15,000 more. However, the offer may have included things like no appraisal, or no inspection, in which case, the Seller may want to consider value and condition of their home prior to making that decision. I try to get my Buyers to be reasonable in their offers. It is never a good idea to offend or make a Seller mad with the spirit of negotiation in mind. Some people know it’s not personal while others take it very personally and are very offended by a lowball offer when a property is priced well and a Buyer is just out fishing for deals. Life and real estate is about compromise – negotiation. If you start off offending, chances are not good that you will come to a resolution and an outcome that you are hoping for. So, just because you have cash and think your *you know what* doesn’t *you know what*, doesn’t mean that you will get that house. They may just tell...

Read More