All posts by Bettina Settles

My clients appreciate my compassion, empathetic nature when dealing with them and their transaction but more than willing to educate in a simple way to make a complex transaction understood. Being accessible and cooperative when it comes to dealing with clients and cooperative agents has earned me high praises from both. They have learned that I am dedicated, honest, and knowledgeable and can become very persuasive when it comes when working a transaction for my clients.
commitment, Communication, education, Inspiration, planning, selling, Short sale, Team work, tips

HOMEOWNERS THAT ARE FACING FORECLOSURE MIGHT HAVE EQUITY IN THEIR HOME

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saving for collegeIn some areas, where home prices have risen enough, may offer homeowners who were once upside down with their loans alternative options rather than going through foreclosure. Many homeowners who are going through foreclosure might not realize that they now have positive equity and could either refinance their loan or sell the home without having to go through a short sale.

This would be great news for many home owners who were once upside down but is now no longer the case. The interest rate is still low and the home should be easy to sell. This would also help potential buyers because the inventory of homes for sale is low even though we should be at that heart of a great selling season.

When you think you are in an area where the home prices have risen and your homes value has risen with the local market, and you suspect you are no longer upside down with your loan, you should contact first your mortgage servicer and find out if there are now other options for you. You should also contact a local real estate professional or appraiser to let them run an evaluation on your home.

When the evaluations by your agent or appraiser show that the market value of your home is higher than your current total loan amount you owe, you might be able to put your home on the market without having to do a short sale. This would open the market to more interested buyers  other than the investors who are looking for a deal.

The closing date can be set based on the buyer’s qualification when the purchase price is higher than your outstanding mortgage balance. You as the seller would no longer have to ask the lender for final approval to close the transaction. You just close it as a regular transaction.

commitment, education, Inspiration, planning, Team work, tips

ARE YOU TRULY LISTENING?

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Secret Kiss From One Boston Terrier to AnotherI had several situations this week that made me think…..are we truly listening to the person who is talking with us on the phone or who is talking with you right in front of you?

With our busy life and work we all try to multi task and sometimes we forget to focus on what is important right at this moment.

Have you ever had the situation that you where talking to a person, maybe at a meeting, and they checked their phone for messages during you conversation with them and not even ten minutes later they asked a question that you had covered with them not even ten minutes ago?

Were you ever in a restaurant ordering food and the server wrote down your order but had side conversations while taking your order and as you received your order, it was not correct?

Have you ever received a message that someone else took for you while you were out and as you followed up with the message it was not about what the messenger told you it was?

Things like this happen more and more often. We try to do too many things at once and this might be the culprit. The more we try to do at once, the less we accomplish and ultimately create re-work for ourselves and others.

Here are some ideas to help assure that the person you are talking with understands and has listened to you.

On the phone:

  • Ask them open ended questions about what you just presented.
  • Ask the person to paraphrase the information you just told them.
  • Find out if they are in their car talking with you. If they are, reschedule the conversation for a time when they are not driving and don’t have any distractions. Cell services in some areas is not 100% and important parts of a conversation could be missed.
  • Send an email with all of the discussion points and ask them if there are any more questions about the task at hand.  Ask open ended questions to make certain the message you conveyed was understood.
  • If they put you on hold during your phone conversation due to other priorities, reschedule the conversation for another time when they can give you their undivided attention.

When it is a face to face meeting;

If they are distracted by the phone ask them hold their call so there will be no distractions.

  • Do not sit behind the desk. Use a more casual conversation style.

When it was an email message that was taken for you

  • Ask to have the original email forwarded to you.
  • When something is unclear contact the original sender to clarify.

Politeness is the art of choosing among one’s real thoughts.  ~Abel Stevens

buying, commitment, Communication, education, Inspiration, planning, selling, Team work, tips

WHERE DO INDIVIDUALS MOVE TO AND FROM?

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car with mapHave you ever wondered if your county is one of the county’s that is popular area individual’s move to or away from?

You would be surprised to see that some of the counties within certain states that you think would be in the top 10 of areas to move are actually not in the list. Florida for instance is not even in the top ten places to move to but is in the top 20. In 14th place is Broward County (Fort Lauderdale) and in 17th place is Miami County (Miami).

Top 10 Counties households are moving to are:

Los Angeles County, CA (Los Angeles)
Cook County, IL (Chicago)
Harris County, TX (Huston)
New York County, NY (Manhattan)
San Diego County, CA (San Diego)
Maricopa County, AZ (Phoenix)
Dallas County, TX (Dallas–Fort Worth–Arlington)
Orange County, CA (Santa Ana)
Riverside County, CA (Riverside)
Kings County, NY (Brooklyn)

Top ten Counties households are moving away from are:

Los Angeles County, CA (Los Angeles)
Cook County, IL (Chicago)
Harris County, TX (Huston)
New York County, NY (Manhattan)
Maricopa County, AZ (Phoenix)
Dallas County, TX (Dallas–Fort Worth–Arlington)
San Diego County, CA (San Diego)
Kings County, NY (Brooklyn)
Orange County, CA (Santa Ana)
Queens Count, NY (Queens)

buying, commitment, Communication, education, Inspiration, planning, Team work, tips

CASH BUYERS SQUEEZING YOU OUT OF THE MARKET?

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squeeezingSome areas of the US have become a hot market. Even when you are pre-qualified for your mortgage, and have a 5 – 10% down payment ready to go, you may still come up short when you compete with cash buyers. Based on the National Association of Realtors’ Profile of Home Buyers and Sellers 2013 over 88% of home buyers are financing their home purchase and still many of them are getting priced out of the market due to hard cash buyers who do not need anything but a few days to close the deal.

Keep in mind most cash buyers are part of an investment group or company that has bigger pockets that can support a higher offer than what you might be able to afford. Here are some tips on how to outsmart a cash buyer especially when it comes to you wanting your dream home in an area where there is a huge influx of cash buyers pushing other buyers out of the market:

When you are making an offer on a property make sure you have a nice size down payment. Speak with your lender to find out how much they recommend or are requiring. Some might ask for as little as 5% and others might even ask for up to 10% to 20%.

The bottom line for the seller is what they will walk away with at the closing table. When you ask for a lot of buyer incentives the seller’s bottom line will be affected and they may not take your offer.  Secondly, they are looking at time. How soon the deal can be closed. DO you have another home to sell? The sooner the deal can be closed the better for the seller in many cases.

When you like the area, but you still have not been able to compete with the cash buyers who buy every ready to move in home they can get their fingers on, you might consider buying a fixer upper. In many cases a fixer upper, even in a hot area, will be less and when your mortgage qualification is for more than the asking price of the home, you might speak with your lender and find out if there is a chance that you could start with a construction loan, fix up the property, and then switch the construction loan to a mortgage.

When you are looking for advice or help with your real estate needs feel free to contact us.

commitment, Communication, education, Inspiration, planning, Team work, tips

HOW WOULD YOU DESCRIBE YOUR HOME WHEN YOU PLAN ON SELLING IT

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wordsMany times pictures are great but don’t forget the description of the interior of the house before you publicize it. Even when a home is a short sale, bank owned, or a foreclosed property, it has positive attributes that should be pointed out to a potential buyer. Keep it short, sweet, and to the point. List some of the positive attributes this home might have even though it could use some repairs. Some of the attributes could be a spacious living room, crown molding, or build-in book cases.

I came across a recent post by Sanette Tanaka titled What’s a Word Worth? and I received a short but sweet and to the point education of the usage of verbiage in listings.

Did you realize that the increased usage of listed verifiable characteristics of a home could increase the closed price of a home by about 13%? Still keep it short and to the point.

After this short education I took a look at some of the current listings I am watching for my buyers and noticed that some of them don’t even have a property description or even a picture. Others just point out the negative rather than the structural or historical positive on the property.

I know of one that is not on the historical registry but is historically significant to the area. That should be pointed out to a buyer.

commitment, Communication, education, Inspiration, organizing, planning, Team work, tips

“You can not always control circumstances, but you can control your own thoughts.”

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This quote from Charles Popplestown came to mind as I received a very long email from a possible Real Estate recruit. This explained to me why she hates doing certain tasks in her current function and why she thinks she will not be doing them later.

Do you know who your customers are and where they come from?

 It is easy for all of us to complain about this or that and/or maybe him or her. It is so much harder to look at the problem and offer a solution. When a company is recruiting, that is exactly what they are looking for. There are times when a company is hiring because they are faced with a situation (opportunity) they could not solve and they are now looking for the solution externally.light

In our business we strive to receive referrals and also to give referrals. Before we receive the referral business we have to earn it. Referrals, and the referral business, do not come without hard work, dedication, and offering of solutions to our current customers and clients.

This not only holds true in the world of our business, it holds true for all types of jobs and employment.

Be the solution to an issue and don’t become the issue. When you have an issue, offer a solution or an idea to a solution.

buying, commitment, Communication, education, Inspiration, organizing, planning, selling, Team work, tips

TYPES OF LOANS THAT ARE AVAILABLE TO CONSUMERS FOR PURCHASING A HOME

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Coin Dropping Into Piggy BankIt would be great when we could all pay cash for a home. Unfortunately most are not in the position to do this and must obtain a loan to purchase our home.

There are so many types of loans that it can be very confusing as to which type of loan to use. Some loans require you to have some sort of down payment. There are others that don’t have down payments. There is the conventional loan, loans for rural areas, for public servants like teachers, police officers and fire fighters. There are loans for veterans and their families and also rehab loans.

Here is some information on the more common used loans:

Conventional loan

This type of loan comes has multiple terms to choose from, between 15 and 30 years. You have a consistent mortgage payment for budget planning purposes. You must have a down payment and depending on the lender you are working with it can be up to 20% of the purchase price.

VA loan

A VA loan is a loan guaranteed by the Department of Veterans Affairs. If you are a veteran, member of the military, or a surviving spouse of a veteran, you can apply for this type of loan. There are some stipulations the VA puts on a veteran or their surviving spouse to be able to qualify for this loan. You should speak with a VA approved mortgage servicer/lender about your specific situation.

FHA loan

An FHA loan is great for a first time home buyer but you DON’T have to be a first time home buyer to qualify for this type loan. Many times the down payment is less than the 20% required for a conventional loan and the qualification and credit requirements are not as stringent. The FHA loan is an insured loan that is backed by the US Federal Housing Administration mortgage insurance organization. Only FHA-approved lenders can provide this type of loan to you.

USDA loan

This loan is for rural areas of the US. You can find out if your rural home purchase qualifies for a USDA loan by contacting the local USDA office within your state. With the USDA Rural Development Single Family Housing Guaranteed Loan Program there is no down payment but you need to buy a home that is in a USDA eligible area.

There are many more types of loan programs. You can find out what type of loan would be best for you and your family by contacting your favorite loan officer, or you go to our resource page where we have several of them listed for your convenience.

commitment, Communication, education, Inspiration, organizing, planning, selling, Team work, tips

FIRST THINGS FIRST WHEN YOU ARE PLANNING ON SELLING YOUR HOME

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Pad of Paper & PenWhen you decided to sell your current home, whether to upgrade, downgrade, or circumstances dictate you have to sell, there are several things you truly should do before you have your agent put the house on the market.

You need to keep in mind that you are SELLING A HOUSE. Nothing less! Nothing more!

When it comes to selling a home less is more.  Just visit a builder’s model home. You will never see family pictures on the wall, sports trophies cluttering up shelves, or the cabinets and walls cluttered. The walls are always painted in a more neutral color. The goal is for the potential buyer to walk into a home, fall in love and immediately being able to see themselves and THEIR furniture in the home. Not YOURS.

You already have been sold on your home and now it is time for you to sell your home to a different buyer.

The first thing you should do is to de-clutter each room. Either store or sell what you no longer need. On a side note you could inventory the contents for insurance purposes.  Because when you have a loss the first thing an insurance company will ask for is a detailed inventory list of what is missing or damaged. When you consider storing your items do not use your garage. Your garage is part of the house you are selling and not your store room. Buyers need to be able to picture their vehicle in the garage and not the boxes you stored in it.

Give each room a good cleaning. Let’s find the dust bunnies that are hiding in the corner and under the bed. You would be surprised what you will find or what you have been missing. Give each wall and ceiling a fresh code of paint. You don’t have to use the $40 gallon paint, buy the more reasonable $10 gallon paint and have the store tint it with a neutral color. You don’t have to like the paint. Just don’t paint everything constitutional white. Different colors will add a different feel in each room.

When the carpets are over 10 years old, torn or dirty beyond cleaning or maybe screaming 70’s 80’s look consider replacing them as well.

The more your house speaks to a potential buyer the faster a home will likely be sold. When you are looking for more ideas or advice just contact me and I will be glad to help.

Communication, education, Inspiration, planning, tips

DON’T HAVE YOUR HOME BE A TARGET FOR BURGLARS

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The corner of a street signThe other night as I was driving through a neighborhood and noticed the flat screen TV’s hanging on the wall’s visible through the window for everybody see. Now how is that for an invitation to a burglar?

Nights are getting warmer and not only are the neighbors out and about walking their dogs, you also have individuals combing the neighborhoods for easy targets. When you already advertising your 50” flat screen TV you might be on their short list.

Keep in mind that burglars are no longer just breaking into homes at night. Some of them are getting more brazen and break in during the day and even when you might be home.

When you are home, keep you front door locked. Don’t have it wide open and just depend on the locked screen door to keep you safe. If you are in the backyard working in your garden you might not hear anyone knocking at the front door and some people might try to open the door to see if it is locked.

When someone knocks, look through your peep hole to see who is at the door. Don’t just pull the door open, even when you are expecting a visitor. When you can, have a camera installed that overlooks the front door so that you can see who is at the door without having to stand behind the door.

Don’t have your TV visible through the window. When this is the only wall you could have your TV on consider blinds or shades that are not light filtering but at the same time keeping everybody from seeing what is inside.

To make it harder for someone to break into a window, consider planting thorny shrubbery around the house. Burglars look for easy ways in and out and they are really not in it to get hurt or stung by a bush. Do not have an easy accessible ladder hanging or standing outside of the house. It is not only easy and accessible for you but also for burglars. Look it up!

Same goes for your lawn mower, snow blowers, and bicycles. Store them out of site.

Also consider items inside your car whether you park your car at home in the drive, at work, or at the mall. Don’t leave anything of any value visible inside the passenger compartment of the car. When you cannot take it with you lock it in the trunk.

Consider installing a monitored security system for your home and USE IT at all times. Even when you are home.

commitment, Communication, education, Inspiration, tips

YARD SIGNS, JUST FOR LOCALS?

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directionI was in the southern part of Indiana just recently and had a free moment to cruise through a small tourist town I was visiting. I thought it might be a great place to invest in local Real Estate.

This town was seeing a steady increase in the job market rate with small mom and pop stores and small businesses doing most of the hiring. While investigating the town I found it has a great development plan which shows that the town board is willing to put their money where they mouth is.

It did not take me long to find 4 potential properties just after quick searches and site visits.

While writing down the agent’s info that was available on their Real Estate sign in front of the property I noticed one common trend in this town with all the Real Estate companies. There was NO full phone numbers on their sign. Just the xxx-xxxx and no area code at all. I know the area well, but even I would have to try to find the correct area code and that could be difficult due to the vicinity of two other states and different area codes commonly used in the area.

What happens when an out of town, state, or country drive by visitor that sees the sign and wants to call immediately? The chance that this type of buyer is doing the legwork that it now takes to find the full number is slim to none. There was not even a web address on the sign. Just the company, agent name, and their number. Also, the flier box was empty.