Follow Me Friday #1 – Rey del Pollo

Follow Me Friday #1 – Rey del Pollo   Hey SE Houston! What’s YOUR favorite Mexican dish? Selling in the greater Houston area? Get a market analysis report Purchasing in the greater Houston area? Get full MLS access “Looking to sell or buy a Home, Contact us Now!” CONTACT US – CLICK HERE   Written by Ruby Miranda on February 10, 2020. Posted in Follow Me Friday, Fun Stuff :), VIP Preferred VendorsTags: Follow Me Friday, Houston, Preferred Vendors, VIP Preferred Vendors Trackback from your site. Leave a Reply

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Be Careful Not to Make These Home Selling Mistakes

Be Careful Not to Make These Home Selling Mistakes   Here are seven home selling mistakes you should avoid. Your sale depends on it! Selling in the greater Houston area? Get a market analysis report Purchasing in the greater Houston area? Get full MLS access   Today I’ll spell out seven of the most common home seller mistakes and how you can ensure your sale doesn’t suffer a similar fate:  1. Overpricing or underpricing your home. If you overprice your home by just 5% in a hot market, chances are it’ll sit unsold on the market for several months, and when your home sits, your pool of prospective buyers shrinks. And the results aren’t any better if you price too low: Your home might sell more quickly, but you’ll end up leaving thousands of dollars on the table. 2. Not properly preparing your home. According to Realtor.com, a well-staged and prepared home will sell 88% faster and for up to 10% more than its cluttered counterparts, as well as those that need renovating. 3. Limiting showings. Your willingness (or unwillingness) to accommodate buyers and their schedules will greatly affect the outcome of your sale. You must be ready to leave your property at a moment’s notice for a showing or even for a few hours while an open house is held. After all, a home that’s hard to show is a home that’s hard to sell. I’ve seen many a seller make the mistake of being inflexible. It’s not always fun, but you’d do well to work around buyers’ schedules.    4. Underestimating your selling costs. Aside from commission fees, expect to pay anywhere from 1% to 5% of your home’s purchase price for renovations, repairs, and closing costs. A good Realtor will go over each and every cost with you.   “By the time your transaction is complete, you’ll have anywhere from 12 to 20 people to thank for helping you get there.”   5. Reviewing offers with a closed mind. If you receive multiple offers on your home, don’t automatically jump at the highest one. Not all offers and contractual terms are created equal. Beyond the price, consider certain terms of the offer such as the deposit and down payment amount as well as any contingencies. Each offer should be evaluated with an open mind.  6. Not understanding the selling process. By the time your transaction is complete, you’ll have anywhere from 12 to 20 people to thank for helping you get there. They include Realtors, inspectors, lenders, appraisers, escrow officers, notaries, and more. Developing an understanding beforehand of just how involved the selling process is will allow you to better anticipate potential surprises and prepare for the change of ownership.  7. Choosing the wrong Realtor. The right Realtor (I might know a good one) will run a market analysis on your home so that you price it correctly, do a walk-through with you to identify ways in which you can add value, and go over your net sheet with you so you’re not in the dark about costs you’re responsible for. The wrong Realtor won’t.  As I always say, “To be unclear is to be unkind.” If you have any questions or you’re thinking about buying or selling a home, please feel free to reach out to me. I hope to hear from you soon!    Written by Ruby Miranda on September 9, 2019. Posted in First Time Home Sellers, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply

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7 Common Real Estate Terms, Defined

7 Common Real Estate Terms, Defined   You know the words “real estate,” but do you know exactly what they mean? I’m here to better explain this term and more today. Selling in the greater Houston area? Get a market analysis report Purchasing in the greater Houston area? Get full MLS access   There’s a lot of lingo out there when it comes to real estate, so I just wanted to give you a quick cheat sheet of some of the most common terms and what they mean. Here are the ones you need to know: 1. Real estate. The term includes both the land and the property built upon it. Though each has its own value, land is a limited resource, meaning it will increase in value over time along with the cost of building on that land. This is what causes real estate to appreciate in value. 2. Purchase agreement. This is the contract you enter into in order to buy the home. 3. Closing date. Once you enter into a purchase agreement, you’ll need to negotiate a closing date. On this day, your down payment is due and you officially become a homeowner. 4. Mortgage. Some people have enough cash to buy a home outright (must be nice), but most people will need a loan from a bank, also known as a mortgage. “Most people aren’t aware of the additional costs that are separate from your down payment.” 5. Down payment. Banks have built-in safety nets to protect their interest when giving out loans. One of these safety nets is the down payment. It causes fewer people to go into foreclosure. Not all mortgages require down payments, though. Most range from 3% to 20%, but vets can take advantage of 0% down programs. 6. Equity. Once you know what you’re looking for in a home, you can calculate your instant equity. Let’s say you buy a house for $100,000 and it requires a 3% down payment. Now, you owe the bank $97,000 before you own the home free and clear, and you have $3,000 in equity from your down payment. As your home and the land it’s on gains value, you’ll also be paying down your mortgage and increasing your equity. 7. Closing costs. Most people aren’t aware that there are additional costs after your down payment is made. These include things like lender fees, title fees, and state taxes. Sometimes you can get these paid for by the seller, but it’s all based on how your agent negotiates. If you have any questions for me in the meantime or any real estate needs that I can assist you with, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.   Written by Ruby Miranda on August 27, 2019. Posted in Buy A Home, Buyer Tips, Sell Your Home, Seller Tips Trackback from your site. Leave a Reply

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