Avoid These 7 Things That Could Turn Off Potential Home Buyers

Avoid These 5 Things That Could Turn Off Potential Home Buyers

When selling your home, you must keep others’ potential hang ups in mind. Being attentive to and avoiding possible turnoffs can help you get your home sold fast. Check out our list of the top 5 no-no’s when showing your home.

1. Pets

Yes, you love your furry four legged friend, but others may not share your feelings. That doesn’t mean you have to get rid of the family pet, but maybe let Fido roam the fenced backyard or spend some time in his crate while guests are over.

2. Obscene images

Offensive or unsavory images may make those viewing your home feel uncomfortable. Also, be mindful that everyone may not share your penchant for High Renaissance nude artwork, no matter how tasteful.

3. Locked doors

When potential homeowners view a home, they want to see the complete home, so having locked or private rooms may send the wrong message. There must be a degree of transparency and trust between buyer and seller.

4. Messy home

A surefire way to turn off a potential homebuyer is showing an unkempt home. Dirty dishes in the sink, un-mopped floors, messy front lawn, and an unmade bed are all things that need to be rectified before a buyer steps foot in the door.

5. Odors

Strong smells can be a huge turnoff. Pets, foods, cigarette smoke, your favorite scented candle – try to reduce all odors from your home. If a buyer finds your home to have an unpleasant stench, it colors the way they view the entire home.

selling house right move

FSBO – Things You Should Know

Buying a property that’s for sale by owner, or FSBO, doesn’t have to be difficult. In fact, it may offer some advantages as you won’t have to pay fees or commissions for a real estate agent (although, using a professional is always recommended).

However, when pursuing a FSBO home, there are a few things that you should consider in order to ensure the home buying process goes off without a hitch.

Purchase Agreement

So you found the perfect FSBO and want to make a purchase, but you don’t know what to do next. Well, your first order of business should be drafting a purchase agreement. This will be an important document for your lender so you want to make sure you include all of the needed information.

  • Buyer and seller details
  • Pricing and financing
  • Insurance
  • Property details
  • Closing and possession dates
  • Conflict resolutions
  • Title considerations
  • Any additional info that may be needed

Insurance

After creating your purchase agreement, the next step should be obtaining homeowners insurance; without insurance you will not be able to procure a loan from a mortgage lender. Homeowners insurance protects you and everyone else invested in your home from property damage.

Appraisal

One of the next steps in purchasing a FSBO is scheduling an appraisal. The appraiser determines the worth of a property by comparing the values of comparable homes in the area. This also requires an inspection of the home to make certain repairs and safety conditions are satisfied before the loan can be brought into closing.

Check out our post on how to apply for a mortgage for more information on the mortgage process.

school Supply Drive

Back To School – School Supply Drive

In an effort to raise school supplies through local organizations – Agape Youth and Family Center and Metro United Way – to help children in need, AmeriSave employees stepped up to the plate. In our Atlanta branch the team raised 1,500 items and in the Louisville branch the team raised 6,979 items with a combined total of almost 8,500 school supplies in just two weeks.

This has been an annual initiative for AmeriSave and we will continue to serve the communities in our branch cities. As we continue to grow, we look forward to expanding our charitable efforts in the communities of our Denver and Troy branches.

selling house right move

Is “For Sale By Owner” The Right Move For You?

Buying a property that’s for sale by owner, or FSBO, doesn’t have to be difficult. In fact, it may offer some advantages as you won’t have to pay fees or commissions for a real estate agent (although, using a professional is always recommended).

However, when pursuing a FSBO home, there are a few things that you should consider in order to ensure the home buying process goes off without a hitch.

Purchase Agreement

So you found the perfect FSBO and want to make a purchase, but you don’t know what to do next. Well, your first order of business should be drafting a purchase agreement. This will be an important document for your lender so you want to make sure you include all of the needed information.

  • Buyer and seller details
  • Pricing and financing
  • Insurance
  • Property details
  • Closing and possession dates
  • Conflict resolutions
  • Title considerations
  • Any additional info that may be needed

Insurance

After creating your purchase agreement, the next step should be obtaining homeowners insurance; without insurance you will not be able to procure a loan from a mortgage lender. Homeowners insurance protects you and everyone else invested in your home from property damage.

Appraisal

One of the next steps in purchasing a FSBO is scheduling an appraisal. The appraiser determines the worth of a property by comparing the values of comparable homes in the area. This also requires an inspection of the home to make certain repairs and safety conditions are satisfied before the loan can be brought into closing.

Americans Agree It’s a Good Time to Sell a Home

Americans Agree, It’s A Good Time To Sell A Home

Yes, home prices are increasing, but that isn’t slowing down the purchase market. Homeowners are finding that because of the competitive market, now may be the best time to sell their homes.

According to Fannie Mae’s National Housing Survey, 61% of those surveyed believe now is an optimal time to sell a home; there hasn’t been a higher percentage since Fannie Mae’s first housing survey in 2010.

Of course, the demand and limited supply of housing does create one big obstacle for those wanting to sell their current homes; they must also compete for a new home to purchase at a reasonable price.

If you have found a home that you want to purchase, a high demand market will work in your favor when you sell as homes are selling faster than owners can place signs in their yards. However, that also means you must act fast too.

As the economy continues to stabilize and salaries increase across the nation, we are seeing a lot of activity in the housing industry and that is great for business!

Credit Scores Are On the Rise

Credit Scores Are On The Rise

If you haven’t checked your credit score recently, maybe you should. According to an analysis performed by VantageScore, around 8% of Americans are seeing a bump in their scores with an average 10 point increase as new credit rules role into effect that remove civil debts and certain tax liens from credit reports.

Overall, the average FICO credit score for Americans is 700 which is the highest it’s ever been. Many experts agree that 700 is really good, with scores ranging from 300 – 850. For a long time, since the housing crisis, credit scores have been sitting right around 686 as confirmed by Ethan Dornhelm – vice president for scores and analytics at FICO.

So, what do these new credit reporting rules mean for you? Well, despite the potential boost in score and all that it entails, the expectation is that personal credit reports will have improved accuracy. Major reporting agencies (Experian, Equifax and TransUnion) will now be required to update files a minimum of once every 90 days and new entries will need to include name, address, birth date and social security number.

Better credit scores may mean better rates and terms for most potential borrowers seeking a mortgage loan. To be sure you are setting yourself up for the best loan terms possible, make sure to do the following:

1. Check your credit report

Your score may have increased, so it’s good to check. Also, comb your report to confirm everything is correct.

2. Make all payments on time

One late payment could have a significant impact on your score.

3. Don’t spend the max limit on your credit cards

Many financial experts advise credit cardholders to spend no more than 30% of their limit.

4. Decrease debt

Your debt-to-income ratio has an effect on your score, so pay down any debts as fast as possible.

4 Tips for Paying Off Your Mortgage

Get Ready For The First Time Homebuyer Boom

For years now, home builders have focused their attention on building bigger luxury homes to fulfill the demand of homebuyers, but the tables are turning and with them a surge of starter home developments are popping up. Millennials are finally entering the home purchasing markets and as demand increases and with supply currently so low, major builders are looking to profit on this new hot market of lower price-point homes.

As buyer confidence increases across all age groups, data shows a significant shift from young people who, up until this point, were more inclined to rent, to young people now wanting to own. Of course, there are still the usual factors that have stymied the younger generation from entering homeownership (e.g. student loan debt, slow wage growth, short credit history, firm lending standards). However, as more affordable options become available and millennials continue to gain a more stable financial outlook, we are seeing the desire for homeownership more prominently than in years past. In fact, 42% of home sales this year belong to first time homebuyers; that’s up from 38% in 2015 and 31% in 2011.

AmeriSave Loan Originator Rebekah Balkcom Was Named On The “Elite Women In Mortgage” List By Mortgage Professional America

Each year, Mortgage Professional America, or MPA, publishes a report highlighting the accomplishments of 100 women who are stars in the mortgage industry. AmeriSave employee Rebekah Balkcom was honored with the award for the second year in a row.

Rebekah has been with AmeriSave since the company was founded in 2002 and is consistently a member of the AmeriSave President’s Club. In 2016, Rebekah funded 260 loans with a total volume of $62,371,101.

Rebekah Balkcom

A big congratulations goes out to Rebekah Balkcom.

summers hottest markets

How To Sell To Millennial Homebuyers

When it comes to homeownership, there has definitely been a lag in the market brought on by the lack of participation from the millennial generation. There are many calculable reasons millennials have delayed homeownership with data showing the disparity between generation x and their millennial counterparts in regards to home prices, incomes, debt and other economic factors. However, lack of participation does not equate lack of desire, and as the younger generation has continued to age (the oldest of the millennials turning 36 this year) and reap the current economic benefits of increasing incomes and steady job growths as well as personal financial stability, we are beginning to see many more throw their hat into the housing ring.

With that being said, preparing a marketing strategy is more important than ever when selling to the millennial generation. Your audience is different, so expectations are different as well. Check out our 5 tips below for the best practices when selling to the millennial generation:

1. Get social

It is a widely known fact that millennials love social media. In fact, on Facebook alone, only 11% of 20-35 year olds don’t have an active account. If you’re not on social media you’re missing out on a gold mine of potential clients.

2. Location is key

For millennials, their dream home is more likely to depend on the location and neighborhood of the property than its aesthetic qualities. School district, community initiatives and business proximity all play a key role in selling to this demographic.

3. Be mobile friendly

Interacting with a generation in which 90% own smartphones and 93% are accessing the internet through mobile devices, it’s safe to say that making sure that you’re a mobile friendly agent is a great investment.

4. Be transparent

Authenticity is one of the best qualities you can develop when selling to millennials. This generation is being inundated with advertisements and sales pitches all day every day. They don’t want to be sold to. They want a transparent and honest relationship with their agent that provides education and clear information during their home buying process.

5. Build up your reviews

Thanks to the instantaneous nature of technology and endless resources at ones fingertips, the average millennial (first time homebuyer or not) will come to you already informed on the market and on you. Make sure you have positive online reviews placed on third party sites such as google and social media as well as on your personal webpage in order make it easy for them to choose you. This builds trust and establishes credibility between you and your clients

items every real estate agent should keep in their trunk

The 7 Items Every Real Estate Agent Should Keep In Their Trunk

As an agent, you know from experience the kinds of curve balls that can be thrown your way when you’re out showing homes to potential buyers. So being prepared in any situation is a must to make sure you can continue business as usual no matter what situation comes your way.

We’ve put together our list of must haves every real estate agent should keep in their car. Connect with us on social and share your must have items!

1. Digital Tape measure

More times than not you’ll find yourself in situations where you need to take quick measurements of an area.

2. Bottles of water

For days when the heat is too much to bare and you or a client just needs to quench your thirst.

3. Flashlight

This always comes in handy, especially if you’re showing a home in the evening and there is no natural light to light up the homes interior.

4. Toilet paper

This is for a pretty obvious use, but toilet paper is an essential item that you will want to keep at all times.

5. First aid kit

Always be prepared for a minor emergency and keep your first aid kit fully stocked.

6. Hammer

You may find yourself putting up and taking down open house signs pretty frequently so keeping a hammer at hand could save you on hassle.

7. Snacks

Whether you get “hangry” after a long day on the job or your clients’ kids are complaining about how hungry they are, having snacks is a must.

8. Work gloves

There are a number of things that you may come across that may have to be picked up or moved to prepare for a showing.

9. Dog treats

Yappy dogs can be a nuisance when showing a home. Keeping some treats for the furry friends can help keep them busy.

10. Air fresheners

Homes that have been sitting unattended for some time can develop unpleasant odors. Air fresheners may help alleviate the foul smells so that you and your clients can breathe easier in a home.