For the Sales Team Realtors, 2017 has been a great year of helping people all over town buy and sell homes—and providing lots of other related services. Our entire team is grateful for the opportunities they’ve had to be of service.
Did you know that they put their knowledge and network to work for you in many other ways besides just buying and selling?
For example, if your home needs maintenance, call your Sales Team Realtor for a referral to a trusted professional. The nature of their profession has allowed the Sales Team to build working relationships with the best tradespeople in town, and they will be glad to connect you with them.
And because they have their fingers on the pulse of the local real estate market, the Sales Team is who to call if you’re wondering about the market value of your home. If you’re thinking of selling your home, they can answer questions and do a market analysis of your property.
If that sale involves moving out of the area, the thought of finding the right real estate professional in another city can be worrisome. But with the Sales Team, you can relax—they’re part of a network of real estate professionals who will take care of you and provide you with the same high level of service you’ve come to expect. That will be one less thing for you to worry about in the transition.
So, if 2018 is going to be a move year for you—whether in town, over the state or across the nation—call on the Sales Team to help you get the right home, the right price and the right services to ease the transition.
Do you have a friend or family member ready to make a move? You can trust the Sales Team with your referral. They will be take great care of them!
And for those of you whom we’ve had the privilege to help in 2017, the entire team at the Sales Team says, “Thank you, and have a great new year!”
If you are looking to buy a home in this busy market, you may have noticed a few things. One, the selection is limited and a home may sell to someone else while you’re thinking about whether it’s right for you. Also, the price of an existing home is high enough that you’d expect something new for that price.
In fact, buying a new home is a great idea.
Here are six reasons to do just that.
Number one, the new home is built to your specifications. Not only can you customize the paint color and flooring, you may also be able to work with the builder to choose a home layout that will fit it exactly to your needs.
Second, you can decorate the home to your style from the start. Instead of spending days or weeks repainting, updating appliances or having a wall moved, you can move right in to a new home.
The third benefit of a new home is a warranty. Most homebuilders warrant their workmanship for the at least the first year, structure even longer and mechanical systems carry manufacturers warranties.
Fourth, new homes include the latest smart features. Hard-wired smoke detectors, accommodations for structured wiring, security systems, electronics and other smart features.
Number five, today’s building codes require increased energy efficiency. There is no wondering if the home has insulation in the walls or ceiling—new homes must include those features, along with insulated windows and other cost-saving ideas. New technologies have created more efficient heating and cooling systems. You’ll save money while staying comfortable all year long.
Advantage six is that you’re often part of a new, growing community. Many subdivisions offer amenities such as community rooms, swimming pools and other ways to connect with neighbors.
Lots and lots of new homes are being built all over town, giving buyers a variety of options. The Sales Team works with many builders in town so they can help you sort through those decisions.
It is important to have a Realtor represent you in any home purchase, including a new one from a builder. They can not only help you get the best price, but they can negotiate in your favor for who pays specific transaction costs, they can arrange for surveys, inspections, document preparation, start and completion dates for building, and other details. “In most cases,” Brian says, “the Realtor fees are paid by the builder.”
And if you are selling your current home because it is too small (or the kids have graduated and it’s too big) or for whatever reason, they can get your existing home sold for a good price and do their best to coordinate closings.
Call the Sales Team today!
So, what does it take to get approved for a loan to buy a house this summer, whether you’re a first-timer or planning to move up or downsize? Maybe not all that you think. For most people, the key requirement is that you’ve got the right package of stuff — credit score, down payment, financial reserves, debt-to-income ratio — to get an acceptable grade from the automated underwriting systems, or “black boxes,” installed at the dominant investors in the market, Fannie Mae and Freddie Mac. Debt-to-income (DTI) ratios are a major factor hard-wired into the black boxes that refer to the ratio between your monthly credit-related expenses — including housing payments, credit cards, student loans and the like — and your monthly gross income. In an important policy change taking effect this summer, Fannie eased its reserve and down payment requirements for DTI’s in excess of 45 percent up to a maximum of 50 percent. Note that FHA uses its own proprietary underwriting system, which often yields more-generous decisions on approvals than Fannie’s or Freddie’s. Regarding credit, in June of this year the average FICO score for home-purchase loans at Fannie and Freddie was 754. That’s a big reach for millions of would-be buyers. But that’s not the whole picture. According to data compiled by Ellie Mae, a software and analytics firm that tracks loan characteristics, substantial percentages of applications are receiving approvals from Fannie and Freddie with lower FICO scores than you might imagine. Nearly 13 percent of their approved loans in June had scores between 650 and 699. FHA’s average score for home-purchase loans was 683, but many were much lower than this average. Down-payment requirements also are super-low at the moment. Fannie and Freddie both have programs that permit just 3 percent down with many state and local housing agencies providing grants and/or loans designed to ease the cash required even more. The bottom line? Get rid of preconceived notions you may have about how tough it is to get approved. Standards are more flexible and not as tough as you probably thought. Sources: Ken Harney, The Nation’s Housing, Fannie Mae and additional industry publications
At the Sales Team Realtors, they understand that buying or selling a home is always about something bigger going on in life. Marriage, Babies, Graduation, Remarriage/Blended families, Retirement, Divorce, Job changes, Caring for aging parents, Illness or disability, Promotion, Death in the family are all examples of major life events that commonly motivate a real estate purchase or sale.
Regardless of economic swings or the price of oil, life goes on. The Sales Team Realtors understand that. While these kinds of life events are common to everyone, no two families are exactly the same. Whether you’re buying or selling—or both, as in upsizing or downsizing across town—your agent will take the time to listen to your needs and make a plan that will help you get there as smoothly as possible.
If you’re selling, yes there are buyers! Your Sales Team Realtor will collect recent sales and listing information to help you determine a strategic asking price, plan an effective marketing strategy and will give you great recommendation on how to best display your home. Often that can be something as simple as repairing a few “wear and tear” items, some new paint in a living area or updating a light fixture in the dining area.
If you’re buying, this is a great time for that! There’s more selection than Midland has had in several years, so you can relax and take the time you need to find the perfect home. It’s a great idea to make a list of your most important needs, whether it’s a nearby school, bedroom count, kitchen size, proximity to work and, of course, your price range.
Your list should include how you’ll use your home: Entertaining, home office, family time or others.
Want to preview some listings first? No problem! Go to www.salesteamrealtors.com and click on the Property Search tab, then follow the directions there to get some great ideas to jump start your search.
Once all the decisions are made and the day of the transaction approaches, your Sales Team Realtor will help you navigate any needed inspections, surveys and fine print, so you can move with confidence toward you goal of getting your family into the right home.
At The Sales Team Realtors, they understand that they’re in business to serve you through your major life events. Whether you’re buying or selling, your ultimate goal is to provide a warm, safe, affordable home for yourself and, if applicable, your family. Your Sales Team Realtor will do everything possible to make that happen smoothly.
Call The Sales Team Realtors today to set a time to discuss your real estate needs and rest assured you’ve made the right choice for your family.