You don’t need a perfect credit score to qualify for a mortgage.
If you’ve been seeing articles (and my posts) about low interest rates and wish you could take advantage, you might be more qualified than you think.
For starters, there are several different loan programs which all have different minimum requirements. For example, the credit score required for a conventional loan is higher than an FHA loan.
According to Experian, “It’s possible to get approved for a conforming conventional loan with a credit score as low as 620, although some lenders may look for a score of 660 or better.”
The best way to figure out if you can qualify for a mortgage right now is to meet with a local lender and talk about your options! If you need a referral, send me a message and I’ll point you in the right direction!
Agents are often treated like a fluffy extra when selling your home rather than an asset who can help you make the most money possible from your home sale.
We tend to be the first to go when you think about cutting expenses or netting more money.
I’ve always felt frustrated (and saddened on those seller’s behalf) by the lack of knowledge about what it is a GOOD agent actually does for you.
I see the comments floating around in Facebook group threads and on Instagram – “I knew you could get the price you wanted! We are going to try selling on our own this Summer too. Why not when there is so much demand?”
Here’s the truth: The demand for houses right now, would not exist without real estate agents. We are the ones driving up that demand, getting you 37 showings you wouldn’t have without us, analyzing the offers (that are truly a foreign language to read through if you’re not a professional).
You wouldn’t have someone taking that accepted offer and making sure you’re not leaving any money on the table from that point until closing.
We are not just here to give you some advice and see what happens.. Do you think our only job as an expert is to tell you to paint your walls white, take down the ugly drapes and rearrange your furniture – not even close. We didn’t flip or decorate one house and decide we were qualified to help you buy or sell your home. We dedicate our lives to this.
If you decide to forgo hiring a professional to help you sell your largest asset and you come out on the other side feeling successful – even that is subjective because you have no idea how much money you could be leaving on the table from your lack of expertise.
Moral of the story – before you write off a real estate agent as a shiny extra, find a damn good one and see how they can help you. Smart people hire experts to handle their largest assets, not themselves.
If you are trying to buy a home right now you KNOW how competitive the market is. It’s not fun losing out on every home you want to purchase. So how do you get your offer aceepted?
STEP 1
You’ll want to start the process earlier than you think. It’s so important to make sure you have in depth knowledge of the current market and a good grasp on what you can realistically afford (monthly) so you can start the process confidently and on the right foot.
STEP 2
Schedule a buyer consultation before you think you’re ready. There’s a lot to learn and you’ll want to be prepared so you’re ready to go instead of being overwhelmed once you begin the process.
STEP 3
Be patient! I know this is a hard one, it sure is for me. But you have to have patience. Expecting an agent to find you a house and get you under contract quickly might not be possible or realistic in this market although I will do everything in my abilities to get you there. Set your expectations accordingly and talk to your agent about what is realistic.
STEP 4
Be strategic when writing your offer. The highest price doesn’t necessarily equate to the winning offer. Position yourself in the best place possible to have that competitive edge (i.e. work with a reputable local lender and an agent who is easy to work with. Follow their advice!)
STEP 5
Have all your ducks in a row and be ready to write a competitive offer. This isn’t a market where you can low ball an offer, see what the seller will do, take your time, and have multiple showings. You need to move quickly and be confident in your decisions!
If you’re ready to get the ball rolling, don’t hesitate to reach out to you. I’d love to help you find your dream property!
While I can’t predict the future, I do spend a lot of time researching the market and seeing what economists are predicting.
One thing to keep in mind is that our current market is drastically different from our market in 2006-2008. We have an extremely low supply of inventory in the majority of the country (meaning there are more buyers looking for homes than there are homes for sale) which has driven up home prices.
Secondly, homeowners have a substantial amount of equity.
I pulled this from the Homeowner Equity Report on CoreLogic’s website: “In the third quarter of 2020, the average homeowner gained approximately $17,000 in equity during the past year. This marks the largest average equity gain since the first quarter of 2014.” This creates peace of mind for anyone who may need to sell (in the fact that it’s not likely many sellers are underwater on their mortgage).
There are also higher standards for loan qualification today than there were in 2006-2008.
Lastly, there are a lot of buyers on the market right now who want to take advantage of our historically low interest rates.
I want to help my clients to make smart real estate decisions so with all the madness in the market and the “headlines” out there that might scare people into thinking we’re heading into another housing bubble, I thought it would be helpful to share these details.
If you’re considering leveraging the equity in your home while also taking advantage of low interest rates, let’s chat! I can put together an equity analysis based on your home’s current market value vs what you owe and we can take a look to see if now is a good time for you to make a move!
Are you looking for a beautiful property with a gorgeous lake view? 128 Brighton Place in Bull Shoals, Arkansas could be yours!
https://youtu.be/g8eUYX1taFU
Imagine coming home to this beautiful home that sits on two lots in the Highland Ridge subdivision of Bull Shoals. This immaculate 2656 square foot house features four bedrooms and three bathrooms. The two sunrooms provide a place for relaxation along with a view of Bull Shoals Lake.
The kitchen has plenty of storage, an island, and a hammered copper sink. All appliances will convey. Adjoining the kitchen is the dining room which is separated by the living room by a stone, double-sided, gas fire place. The windows along the back wall of the living room provide a view of Bull Shoals Lake and the floors are a warm engineered wood.
The master bedroom has two closets, a full ensuite bathroom, and one of the sunrooms. Two other bedrooms are on the main level, each of which has a window seat. The laundry and another full bathroom are also on this level.
Downstairs, in the walk out basement, you will find a large family room and wood burning fireplace, another bedroom, and full bathroom.
Exit the two sunrooms to a dramatic double stairway down to the pool. The no maintenance yard will save you time so you can enjoy living in your new home. The extra, wooded, wooded lot provides privacy and separation from the neighbors and the home backs up to the government strip.
Although the location feels very private, it’s close to shopping, restaurants, and entertainment. If you are looking for a place to work from home, look no further. NATCO fiber is available!
Enjoy easy living in this quiet neighborhood! Call today for your showing. 918-350-0190.
In this real estate market with the low inventory and fast pace of sales, we often come into a multiple offer situation. I’ve had two in the last four days. It’s nerve racking and exciting and, if you come out on top, you feel awesome!
https://youtu.be/kKC6hIB6lvA
But when you get the offer reject page, it’s hard to remember the wise words of my mother who said, “It’s only a house. There will be another one”. Because right now, it seems like maybe there won’t be another one and I feel sad that my clients didn’t get the house they wanted.
I still feel like that’s good advice my mom gave me and I know, without a doubt, it’s saved us tons of money over the years. I am a very emotional person. In a good way, of course. I’m happy and gregarious! I’ve been called bubbly but prefer effervescent which means essentially the same thing but sounds a little more dignified. Still, you can tell exactly what I feel by looking at my face and I know that if I allowed myself to get emotionally wrapped up in a house, it would be all over.
I feel like there are a lot of people in today’s market who do just that. With the lack of inventory we’re experiencing nationwide it can be hard to believe there every will be another house. But, trust me, there will be. Even if you have to wait a bit for it.
When we first moved to Flippin, we pretty much decided that if the house actually looked like it did in the photos on realtor.com, we were going to buy it. We just needed a place to land while we figured things out. We stayed in a hotel for about a week – WITH FRANKIE (our Rottidor) – while we secured the offer and early occupancy. Then we ended up staying there, in our tiny little 736 square foot house, for over a year and a half! I was starting to feel like a hoarder because we kept bringing things back from our Tulsa house that we needed and we were simply running out of room.
We looked at several homes and with each one, there were at least eight people right there with us who wanted to bid on that house. In my opinion, a multiple offer situation is a way to spend way more money than you need to on a house. And, I don’t know if you’re like me or not but if I get into a competitive situation, it takes everything in me to not beat the competition and win. That’s why I know it’s good I’ve always remembered my mom’s advice.
We finally found our forever home. It’s got the beautiful lake view that I wanted and it’s has the acreage David wanted. It has a BIGGER lake view and WAY MORE acreage than any of those other houses we looked at and I can’t help but thinking we won. We won without multiple offers, without that one home being the only one we have to buy at all costs.
So take heart. If you don’t win in a multiple offer situation, maybe it wasn’t meant to be and the home you’re supposed to have is coming along at just the right time. Remember mom’s advice, “It’s only a house. There will be another one”. Because there will be and it will probably be the best house ever!
Wow! We finally made it to the end of 2020 a year that has been, in almost everyone’s estimation, unlike anything we’ve ever experienced.
I started the year as Association Executive at the North Central Board of REALTORS and ended it as a licensed REALTOR at Davenport Realty in Yellville. I have wanted to be a REALTOR my whole adult life, it seems. My dad was a REALTOR and I thought it would be something I’d really enjoy myself. Because David’s career has taken us around the world, I never was in one place long enough to make that particular dream come true.
I took the role at the NCBOR with the idea of learning the real estate business from a different direction. We had only just moved to Flippin. In fact, I hadn’t even moved here yet when I interviewed and got the job. I didn’t know anyone or anything around here so it seemed like a great place to start. I’d always wanted to run a non-profit and this was my chance. I loved the job, crammed my head with SO much knowledge that first year but, ultimately, realized that I wanted to be on the other side of the business and started to pursue my real estate license which I got mid-August.
I knew I wanted to join Davenport Realty as they are the number one brokerage in Marion County. Sandy and her family (and her whole office, really) have lived here their whole lives and they know the area like no other. I bring a whole different experience to that mix and I love and appreciate everyone I work with at Davenport. Their endless support and help have enabled me to have an incredibly awesome first quarter as a REALTOR. I did 10 transactions and sold just under $1.4 milion. Not too shabby for the new guy. 🙂
I was going a million miles an hour until about Thanksgiving time when I finally got a chance to slow down and look over what I’d just done in the past few months. I was a guest on Leigh Brown’s podcast, Crazy Sh*t in Real Estate, at the end of October. I’m not sure when my episode will air but I’ll let you know when I find out. I was also just interviewed for REALTOR Magazine to talk about starting a real estate career in a pandemic. I believe that will run in the March/April edition. I’m excited about having done both of those interviews being such a newbie.
Speaking of magazines, as an AE, I served on the AE Magazine work group and was excited to have one of my articles published just after I left that role.
After living in our little 736 sq ft Flippin house, David and I finally closed on our forever home. It’s way too big but the two things we came to realize that could not be compromised on was that I wanted a view of the lake and he wanted acreage. So we accomplished that and have been living in our new place for about a week. We’re currently getting the Flippin house ready to sell and, in this crazy market, I’ve got people chomping at the bit to look at it. There are virtually no homes in this price range so I imagine it will be snapped up fast. Then, on to selling our Tulsa place. We hope to have it on the market by May. It’s crazy over there, too, and homes in our neighborhood are being snatched off the market in short days. It’s an exciting time!
I want to say thank you to everyone who had any little part of my 2020. I had a great year and I have done so many things I have always wanted to do. I have met and worked with incredible clients whom I will always count as friends, and Davenport Realty. I thank Sandy all the time for letting me land there. I can’t imagine being anywhere else.
Say what? How do you even pronounce Rockansas? Rock-An-Saw. This is what my broker calls Arkansas because it’s just so rocky here. One of my colleagues said when he was little, he would have to pick up rocks as punishment. When I put up a sign on a listing, I often have trouble getting it in the ground because of the rock. David’s contractors at NATCO struggle to bury fiber because of the rocks.
https://youtu.be/hliuuFjNV_Y
I tell you all of this for background. Back during my first couple of weeks as a REALTOR, I got a call from a man. He was so upset because a listing that was just perfect for him got away. Hot market, you know?
So I asked him if I could help him find something similar. He proceeded to give me a wish list: I want acreage, bluffs, I want to be close to the Buffalo River, I want a cave, waterfall, and rocks. Rocks, lol. I replied that rocks were really easy to come by in Arkansas and laughed. There was dead silence on the other end of the line. I’m not sure where this man was from, only that he had a heavy southern accent and didn’t find the fact, that rocks are really easy to come by in Arkansas funny. Oops.
It IS funny to me, though. Now, every time I’m walking around a piece of land here, either previewing it or showing it to a client, and I see rocks, I can’t help but think about the conversation I had with that man because it IS funny. There are just so many rocks here.
We are getting ready to close on our new place in Lead Hill tomorrow. After we made our offer on it, we took a side by side and drove around the 53 acres. I was absolutely thrilled to find beautiful rock shelves in the back acreage and I know I’ll be spending some quality time on my portion of Rockansas.
Although I live in Flippin, my office is in Yellville. Yellville is the county seat for Marion County but with a population of 1170 people, it’s certainly not the big city.
We don’t have big city coffee shops but that doesn’t mean you can’t get a good cup of coffee. At The Loft Coffee Shop you can get just about any type of coffee drink you’d like. And, in my opinion, it tastes better than coffee you get in that large coffee shop chain you can find worldwide.
https://youtu.be/mNAWr4d3Oaw
Imagine That Flowers and Giftsis co-located with The Loft. You can order flowers and plants for delivery or buy a cute gift for your friend’s birthday. Since we’re moving to the country this week, I’ll probably need this little gift for myself.
I’m especially thankful to Lyndsey, the owner, who allowed me to debut my gourmet marshmallows (another blog!) in her shop last week.
I love these shops, their owner, employees, and products. If you’re in Yellville, stop by. I’m sure you’ll love them, too!
Do you like the shows Million Dollar Listing LA and Million Dollar Listing New York? I do. I love looking at the luxury properties, the oversized personalities of the agents, the flashy cars, and the fabulous fashions.
https://youtu.be/n5R5zihW1MU
On some level, I must have thought that my real estate life would resemble their lives in some way. So please forgive me that thought. I couldn’t have been more wrong.
I thought I would be showing big fancy houses. Nope. I find myself out “in the dirt”a lot. There is a lot of raw land available for sale in Arkansas and I have shown so much of it.
I thought I would be wearing pretty dresses. Nope. Out in the dirt, I’m typically wearing jeans and a T-shirt. If I get dirty it doesn’t matter if I get caught on something pokey, it doesn’t matter.
I thought I would be wearing kick butt shoes. Nope. I’m wearing my rubber boots. That way, if I have to walk in chiggers or a creek I am equally protected.
I thought I would be wearing big beautiful earrings and other fancy jewelry. Nope I wear diamond posts and my silicone ring in place of my wedding set.
On days when I’m actually showing houses, I’m really excited! It’s a fun change from the dirt. I have to say though, the longer I do it, I get more comfortable with being in the dirt. I’m learning about the various things you need to buy land and what you need to consider before building a house on that land. I’m learning about Corp, river, and lake property. I’m learning about easements, septic systems, and perc tests.
I’ve gotten so comfortable with showing land that I’m actually considering going to the Land Institute and getting some extra training so that I really know what I’m doing. Who would’ve ever thought?
