Do you work in a hero category? This is a cool reward program that some of my clients qualify for. #teacher, #homeschooling, #healthcare, #ems, #dentist, #dentalassistant, #military, #veteran, #police, #firefighter, #leo, #education, #fulltimeservice ALL fit in hero categories and get a CASH REWARD of about .7% of the purchase price at closing. That’s $2800 in your pocket after you buy or sell a 400k house! See this page about for more information and an affiliate link that will connect us through the program!
Common sense or nonsense? The International Residential Code is very specific about the minimum requirements for bedrooms. This is the code adopted by almost every municipality in the US. It addresses room size, egress, ceiling height, window size and placement, number of electrical outlets, and more. Guess what is NOT a requirement? A closet. That doesn’t mean YOU can’t require a closet, but a room doesn’t need a closet to meet IRC codes for a bedroom!
Does this number fool you? For some reason every Realtor repeats the median list price in their area, and buyers usually misunderstand what it means. Median list price is the list price right in the middle of what is for sale, but it doesn’t mean that’s what the average or typical home costs. Half the homes cost less than median, and half cost more. In 37167, median is about 450k, but the largest group of homes for sale is in the 300s. The typical range is from the low 200s up to over 1M. So don’t be fooled, there’s a home for you.
Is AS-IS the ultimate cop out? 🧐 Nope, but you might be surprised at how many times as-is in a listing turns into a complete misunderstanding, or worse! 🤯 I have seen…
1. Buyers pass up a perfectly good house (seriously, nothing actually wrong with it) because the listing said “as is” and so the buyer assumed there were problems. 😥
2. Listing agents think that since “as is” was in the MLS, buyers couldn’t negotiate repairs. 😭 (spoiler alert: we did AND the seller agreed to them! )
3. New agent submit a buyer’s offer “as-is” when they really meant “pass/fail” (spoiler alert, the words in the contract matter) 🤨
4. Sellers not understand that as-is does not let them off the hook for later damage. If winds blow the roof off or a water heater floods the house, that’s not something the seller gets to walk away from.🤔
Did you know that? Does it make you feel differently about the term AS-IS? Comment below!
Any lender can send you a pre-approval letter, but not every lender is taken seriously by listing agents or sellers. Using a lender for CONVENIENCE or advertised RATE is a huge mistake. It will cost you the house!
If you choose a big name Internet lender with a reputation for lousy service, poor communication, and writing pre-approval letters for anyone, but having issues getting to closing, you can be SURE the listing agent will warn their seller about potential problems. The “convenience” of the big name lenders isn’t worth it, trust me. And you may be surprised to find that even local lenders have Internet portals, 24/hr help service, electronic signatures and verification, and all the other tools advertised by the big-box lenders. The local lenders just do it all better. Don’t be mad if sellers choose a buyer with a local lender. Don’t say I didn’t warn you.
Do you get the postcards, letters, texts, and calls?👇
I get it. Selling can be daunting, and it’s tempting to take the “easy” route, especially if they promise to get you top dollar anyways. Or maybe you know the property needs work and you aren’t able to do anything about it. Please hear me: there a local buyer who will make you a competitive offer, very likely better than what you will get from the national bulk buyers. Talk to your favorite local agent to find out all your options.
Closing and possession are usually simultaneous, but sometimes the #buyer wants to take possession early or the #seller wants to remain after closing. All these scenarios can be worked out. The key is to be clear about the needs, reasonable about the expectations, and get it all in writing.
On the fence? You need to hear David Stevens, former President/CEO of the Mortgage Bankers Association speak to @brian_buffini at the 2023 Bold Predictions mid-year update. Some of his key points:
1. Huge wave of Millennial buyers hitting prime 1st time buyer age
2. Low inventory but new home construction is up
3. RATES ARE COMING DOWN to 5.6% by the end of 2023
4. Prices corrected, are INCREASING
So what’s a buyer to do? Get off the fence before rates drop and EVERYONE enters the market, driving bidding wars and price spikes. Refi when rates come down.
Whatever the reason, giving your client bad marketing is bad business. Homes with professional photography get more showings and higher initial offers. A poorly marketed home doesn’t attract. But don’t let that stop you from considering it. It may be a great opportunity for you to buy without competition!
She wasn’t wrong. But would you make a dream home purchase contingent on something so personal to the seller? Comment below! In situations like that, you need a highly skilled agent to make sure a potentially touchy demand doesn’t escalate into a battle of egos and cause both parties to lose out. Good job!
Who are you listening to? News media measures success in # of viewers, not the accuracy of their reporting. Their predictions about the future are forgotten by the next news cycle. As regards the housing market, never forget these fundamentals:
🏠1. Everyone needs a roof over their heads.
👨👩👦👦2. Increasing population increases demand.
📈3. Increasing demand puts pressure on supply.
🏘️4. The economy is a constant balance of supply and demand.
So what’s happening right now? Nationwide we are 300,000 homes short of the demand. This is true in Middle Tennessee. And when demand is greater than supply, you get increasing prices. That’s why values are STILL up.
Next time someone on the news says a housing crash is coming, ask if they are considering the fundamentals. Ask if they are selling off their real estate. Or are they buying and holding? 🤔 Remember, they can’t see what’s coming next, but the fundamentals mean real estate will always be a solid long term investment. And every big player is buying up as much real estate as they can.
Who is that Middle Tennessee guy? If you want content about buying, selling, or investing in real estate, specifically in Middle Tennessee, follow this account!
🧐Don’t hire a turkey to sell your home! Too many 🦃 agents cut corners. Here is how to weed them out! Comment your thoughts below! 👇 Here’s the reasoning behind my suggestion.
In a hot market, it didn’t take skill or effort to get offers (but it did take skill and effort to get the BEST offers). So many agents got lazy, cut corners in their marketing, and never made the connections and developed the processes to get the most out of their marketing budget. Now those agents are lagging behind. More importantly, their clients are suffering because they lack skills and cut corners. The easiest place to cut corners back then was in marketing, especially in hiring a professional photographer. After all, they probably have a phone with a decent camera, right? 🙄
The more expensive and time consuming marketing tools are professional photography, videography, 360 video, drone photography and video, and live social media. Not every listing needs all of these tools, but Professional photography is a MUST. So if you don’t see that in every listing, including those listed in a hot seller’s market, it’s a fair bet that the agent made a “business decision” to cut corners.
Can you cut corners and sell a house? Sure, but can you be confident the seller got the most possible showings and best possible offer? NO WAY.
If they cut corners then, they will cut corners now. That “business decision” was also a value statement. That may sound harsh, but I believe it 100%. We are hired to look out for our client’s best interests. If your business model doesn’t allow for professional marketing, but you present yourself as a full service broker, there is some confusion. As a consumer, the best way you can cut through the confusion is to look at an agent’s past work and get in writing exactly what marketing they will use on your home. YOU DESERVE TO GET WHAT YOU ARE PAYING FOR!
Zero down isn’t just for veterans! Did you know about this program?
Now, I am not saying don’t have a down payment or to buy more house than you can afford. But if it makes sense for you to use funds for other things – buying down your interest rate or paying off other debt – then at least know your options!
This myth is a dream killer! Home prices keep increasing; rents keep increasing. Wages haven't kept up. This 20% down myth keeps buyers chasing a moving target. Fortunately, there are lots of great programs for all sorts of buyers that allow you to put 5, 3, 1, or even 0% down and pay no PMI mortgage insurance! Ask me how in the comments!
4 MAJOR things your inspector won't check and how to address them:
☝️Septic system - to truly check this, a specialist can run a camera down the main line to verify slope and clear condition to the tank, and a septic company can open the tank to check if it's functioning (usually involves digging up the yard).
🌦️ HVAC - an inspector will only check the in-season functionality. They won't check heat when it is warm outside or cooling when it is cold outside. An HVAC specialist can check everything to give you an in-depth look at the unit.
🌊Swimming pool - leaks, water condition, diving board, slides, and pool equipment are all outside the scope of the typical home inspection company. A pool specialist is who you need to call to verify the swimming pool is as it should be.
👀 The inspector can't see the future, and can't see inside walls (usually). Some will use thermal imaging, robots, and drones to get a closer look, but none of them can tell you when something is going to break or wear out.
🏠If you are buying a home, GET A HOME INSPECTION! Getting a professional set of eyes on the property can save you from surprises later!
🤔Is there something else you would put on this list? Comment below!
👉What would you ask of your Realtor if you HAD to buy your personal residence sight unseen❓ Comments below! 👇 Need help moving to TN? Contact me today! Link in bio❗😉
Does it make sense to flip slowly? This is the path I took. It's not for the faint of heart, but it's a way to exponentially boost your equity and upgrade homes/neighborhoods quickly.
Aaron is an award winning real estate agent serving the Nashville metro area, including Franklin, Brentwood, Smyrna, Murfreesboro, and surrounding areas. You can rely on his knowledge and experience to help you make wise decisions so that you can buy and sell with confidence.
