Kirk Holton Team Blog

How to chose a lender: Tips for Buyers

By: Katie Kirk-The Kirk Holton Team
Many buyers overlook the importance of finding a lender. This person will play a crucial role, along with your agent, in making sure that the process goes smoothly and closes successfully. The best thing to do is ask several people for names. Your best resource is your agent. He or she works with many lenders in the community. Trust me, we know who gets the job done. Or ask someone who just went through the process. A friend or family member who just bought a house will have this experience fresh in the memory bank and be able to recommend their lender or decline to give you a recommendation because of a bad experience.  It makes sense to get several names, do some research on the internet about the lender and bank/ mortgage company.
Call each of these lenders and explain that you are a buyer and you are going through the buying process and working on determining who you should work with…then get an appointment to discuss the process and find out what that lender has to offer. Again, this is a very important decision. The buying process has the potential to be stressful enough on it’s own.
You do not want to be in a position where you are in the middle of the process and come to find out your lender has made errors and is now putting you in a position of having to ask the seller for extensions and of course the worse nightmare, that the lender can’t close the loan. Most important, buyers need to do their homework on this. Get several names, research, interview and then determine who you would like to work with during the home buying process. Best of luck!

DON’T FALL IN THE FSBO PIT! The Top 10  FSBO pitfalls.

By: Vicki Holton-The Kirk Holton Team

You don’t want to be a FSBO because:

1. There are sooo many complicated forms.

2. Promotion (making flyers, paying for newspaper ads) gets expensive!

3. You are not able to have access to advertising in MLS and many
other numerous websites (90% of buyers find their homes on line).

4. The inconvenience of fielding phone calls and meeting people for
appointments is a pain!

5. Unqualified buyers and strangers are touring your home. You are attracting a lot of “looky lous”…or Sunday strollers.

6  Even though you are cooperating with agents, most agents do not
like to deal with “for sale by owners,” because the agent ends up
doing twice the work.

7. After you get a contract, you STILL don’t know if your buyer can
perform, since no one pre-qualified them.

8. You could  end up making YOUR moving plans based on a closing that
may not happen.

9. You have no recourse if something goes wrong, we live in a very
letigiuos society.

10. In this challenging market, you will probably end up listing with
an agent anyway!

Would you want an accountant to sell your home? A manager of a restaurant? Why not choose a professional who sells homes for a living. It is worth your time to have a professional to get you to the ultimate goal….selling your home.

What are the 10 Key Improvements a Home Owner Can Make to Enhance the
Value of their Home, Without “Breaking the Budget?”

By: Vicki Kirk Holton-Kirk Holton Team with Keller Williams

Thinking of putting your home on the market? Some homeowners are
reluctant due to the fact that they think they will have to spend a
lot of money to bring their home up to par.
But what are the key improvements one can make without spending a
fortune? Roll up your sleeves and put some “sweat equity ” into your
home! You will reap the benefits!

1) De clutter and pack away all items you can live without for
awhile. A cluttered home always looks smaller.
2) Clean your home from top to bottom…clean, fresh smelling homes
sell much more quickly.
3) A fresh coat of paint in a neutral color will make you home appeal
to 90% of the buyers rather than 20% of the buyers. (Not everyone will
fall in love with your red dining room.)
4) Clean up and tidy up landscaping. Many homes are eliminated by
buyers at the curb!
5) Purchase a few new light fixtures to freshen up the look of a
porch, dining room, etc. They don’t cost much but can make a big
impact.
6) De personalize….remove personal pictures…from the refrigerator too!
7) Uncover windows that have out dated curtains or shades…buyers
love a light and bright home.
8.)If you have a cat, dog, or smoke odor….open the windows, air out
the home and utilize some air fresheners.
9) After you are finished….ask your agent …or a decorator friend
to assess your placement of furniture…accent pieces, etc.
10) Consider staging if your agent or decorator friend advises it.
It can be a great investment, especially if the home is vacant. Good Luck!

By: Vicki Kirk Holton-The Kirk Holton Team

Everyone out there is aware that there has been a large shift in our
economy…..joblessness plagues our country, along with a myriad of
economic woes. But how has the economy affected the Real Estate
business? In more ways than we can count, but here are a few
examples….. lenders are tightening up their requirements, appraisals
are much more stringent, sellers in most parts of the U.S. are getting
less for their homes.

How does this affect you, a potential seller? Maybe a few years ago
you were shopping for the home which you are now in….and suddenly,
you are faced with selling it in a depressed market. For years, most
homeowners have experienced nothing but the value of their homes going
up.

Alas, we are in a totally different selling environment, and the
majority of sellers are making a small profit on their sale, breaking
even, or some even  losing money.

What does this mean to the seller? The public is no longer buying a home because of emotion …or because  they just “love the house and neighborhood” Purchasers are now devoid of emotion and pretty much analytical. Because of this element, the “shifted market,” buyers have a lot to choose from..and choosey they are. The homes that sell quickly and for the best prices are those that show like a display home, and are maintained beautifully. If your home is not a perfect 10…don’t ask a perfect 10 price. You will be swallowed up by the competition who has gone to the trouble of making their home show well, with no obvious objections for the buyer. Many have professional staging or the advice of a professional decorator. You don’t want to “chase the market”, in other words, price the home  too high, find out later what the buyers object to… then lower the price, or make the repairs. Make a great first impression…you only get one chance for that.

An example would be, agent Mary says the paint in the kitchen needs
freshening …..and there are leak spots on the ceiling from a second
floor bath tub leaking. The leak was fixed a year ago..but the seller
just hasn’t gotten around to painting the ceiling.”It’s fixed,” says
the seller.

Will a potential buyer believe that…NO. Do they know you, the
seller, and assume that you are honest? All they know is what they
see. …and most likely they will choose another home that doesn’t
raise any red flags, because they CAN. The buyers are
analytical…there is not much emotion. If you have a home that needs
repair and you are not able to address the situation …price your
home accordingly…you will save yourself a lot of stress and wasted
time on the market.

Dear Rita,
I am trying to sell my home and waiting eagerly for feedback after
each showing. I have heard that the “ranch” home is back in vogue,
especially for baby boomers. Our home is very convenient and all on
one level, but because of the way it sits on the lot , the garage is
under the house, connecting to the basement. The laundry is also in
the basement. Meanwhile, young couples come to see our home
(prospective buyers) even in workout clothes….and I am trying to
make a point about this.  The feedback is —”we want the garage on
the same level so we don’t have to carry the groceries up the steps.”
And of course the same lady, with a perfect figure, also has to have
the laundry RIGHT next to the kitchen! Can’t these same people who
value physical fitness get over the idea of having to have a main
floor laundry? or..steps up from the garage? Then they would not have
to buy a stair master! Please clue me in!
yours truly,
Nancy needing Wonder Woman and her husband to buy my home.

Dear Nancy,
I totally sympathize with you and have had a lot of mail on this
issue. Now, in fairness, washing the clothes in a river was good
exercise too…but…well.. you get it.
Often, when the home just doesn’t fit the buyers criteria or it just
doesn’t feel right, the buyer chooses this or that defect in their
feedback. And sometimes a buyer falls so in love with a home that they
can overlook an inconvenience. The garage is definitely something you
cannot change…but if there IS a possible spot for main floor
laundry, maybe your realtor could
point that out to buyers. If the laundry and garage are in the
basement area…maybe a facelift is advisable. Make the laundry area
bright, clean, organized and well lit. Keep the area opening to the
garage as tidy as possible, bright and free of clutter. These tips
should help…make the spaces as pleasant as possible…and a lower
level work out room is a good idea too…maybe Wonder Woman will fall
in love after all!. good luck!

Dear Rita,

The pictures: Important component to marketing and selling your home

By: Katie Kirk-The Kirk Holton Team

Most people by now have come across the statistic that over 90% of
buyers are viewing properties on the internet. Gone are the days where sellers
and agent relied on the Open House as the primary means of viewing the home.
Now, the buyers get on the internet and preview the home and weed out ones they never intend on viewing. Guess how they do this? The pictures.

As a seller you want to follow these recommendations as it relates to marketing
your home so you do not get the weed out. Two things are very important. Be sure you choose an agent that uses a professional photographer to do the pictures.
The only exception to this would be a seasoned agent who knows what he/she is doing and also happens to possess the skills and equipment necessary to take
quality photos. Bottom line is it should not be you with your hand held nor your agent that is not experienced as a photographer. If you are unsure, you can always view the pictures of homes that your agent already has listed and judge for yourself. Again, they should be high quality photographs showing off the properties potential and making the best first impression possible.
Second and as equally important is the subject of each shot. The spaces have to be clean, neat (NO clutter) free from distractions. Less is best when it comes to showing off your home. Is your home dated? These factors can cause buyers to weed you out. Most buyers these days want move in ready. You do not necessarily need to spend thousands updating your home but make it as neutral as possible.
Get rid of dated furniture. Unsure if your falls into this category?  Ask your agent for his/her professional opinion. This is not something to take personally. Appealing to the greatest number of buyers is important and if they see dated furniture they will think house is dated too. Ask agent to recommend a stager to have a more updated, neutral look to the home. This is more attractive to today’s buyers.

Making your home easy to show

By:Katie Kirk-The Kirk Holton Team

Your home is on the market and your motivated to get it sold. You are getting some appointments but no contracts yet. These showings are becoming stressful and difficult to work around. Sound familiar? There are a few things you can do to stay showing ready and reduce the stress. It is vital to be able to get any potential buyer into your home at a moments notice. After all, no contracts will magically appear…the first step is to get the buyer in the door. In my experience not every buyer and agent is organized. It is often at a moments notice that a buyer stumbles upon a property and calls his/her agent and requests that an appointment be made in an hour. There are also the “drive by” buyers who see the sign and want to get in. Again, the more your home gets shown the more likely you will get a contract.

Here are a few things to keep in mind. It is best to have the mind set each morning that someone is coming in the house, even if there is not  one scheduled.  So setting aside 10-15 minutes each evening or morning to make sure everything is clean and neat for a showing is recommended. Is this difficult for some families to do with work, and kid schedules? You bet, but it is that important. You do not want to have to tell your agent the house can’t be shown today because it is too messy. Just be in ready mode to the best of your ability at all times. Secondly if you have pets DO NOT let them rule the roost to the extent that you miss showings because they are not put somewhere. You should not have your dog(s) roaming the house during a showing regardless of how friendly they are. There needs to be a plan for this for showings prior to putting the home on the market. If they are in a space in the house and there is any chance they could get out, be sure to leave a note to buyers/agents explaining the situation.  Again, you should not have to decline a showing due to pets.
The last tip has to do with those last minute appointment requests. You are in the middle of dinner and someone wants to come in 30 minutes. No way, you think to yourself. Here is what you can do…ask for a few extra minutes and clean up. You do not have to physically leave your property/neighborhood for the entire time frame of the requested appointment. When you see the buyers pull up, sneak out the back door and go for a walk or make some calls in your car in the driveway. Again, these last minute things will come up and they will be a challenge but do not miss a showing because you think you have to be gone/out of the house for an entire hour, it is ideal but really not the case in these circumstances.
Go over in your mind all the possible scenarios that may happen when a request for an appointment is made. What are the common obstacles? Make sure you overcome these obstacles so you are always ready for a showing. Obviously emergencies, illness, take the exception but these are the only reasons you
should tell your agent it is a “no show” today. Otherwise, get those buyers in! Good luck!

Two tips to increase your chances of getting your house sold fast
By: Katie Kirk

Kirk Holton Team-Keller Williams
Sellers often ask “what is the secret to getting my house sold fast” ? They see that the neighbors house went on the market and sold the first day. Why? How? And how come we are not getting these results? In this unpredictable market there are two things that sellers can do to increase the chances that the house will sell in a short time frame. There is no short cut here with these tips, they do come with some work, time, money, and some willingness to really listen to your agent.
There are two commonalities with sellers who sell fast. The first thing I notice on a home that sold in less than a week is that the home looks like it is out of a magazine. You as a buyer WANT to live there, you HAVE to live there, it looks that amazing. So as a seller, you must do what you can to see that this happens. This is where you need to listen to your agent. If she suggests staging, stage. If your home is vacant with no furniture, but in the best neighborhood ever, does not matter. Stage. Or it may be a matter of rearranging your own furniture, de-cluttering and bringing in a few staging items to jazz the place up a bit. It may be suggested that a professional stager be involved and if that is the case, it will be worth it for you to do this in the long run.  Of course you will want to attend to all the details that also come with presenting your home in this manner. Clean as a whistle, fresh paint and touch ups as needed, smelling clean and fresh, impeciable landscaping…We all have looked through the magazines and know what “out of a magazine” means. Again, this will take time, and money but it will be worth in the long run.
The second and most critical factor is that the home is priced to sell. Your agent should suggest a price range on where to list your home and you should inquire
about the price point that will mostly likely produce an offer. Based on the comparable properties in your area, he/she should be able to make a suggestion.
Get your home on the market priced to sell and looking like it is
out of a magazine and expect to see some activity that will hopefully result in
a contract right away. Good luck!

What are the priorities for First Time Buyers?

By:Vicki Holton-Kirk Holton Team