Why Spring Is A Great Time To Sell Your Home

The market is hot, and it is a great time to be a seller in Clark County. Potential homebuyers are out and about and are ready to put down roots in a new home. Spring is usually the most popular season for buying and selling a home and here’s why.

#1: Inventory is tight, and demand remains high.
Home inventory in Clark County is still relatively low, which means that many buyers are clamoring to get in the real estate game and find the home of their dreams. This means that there is more competition out there, so buyers and sellers should be prepared for multiple offer situations, which requires patience and plenty of discussion with your experienced real estate broker.

#2: The weather is great.
Garden flowers are starting to bloom, the grass is green and inviting, and the weather is getting warmer. Not to mention, the days are getting longer, and we have more daylight to work with, so that boosts the amount of people that can see the home during the day. The springtime brings buyers out of winter hibernation and they are generally excited and more energetic when it comes to looking at homes in person, with the goal of getting settled in before the summer heat starts.

#3: Kids can remain in school.
Moving in the middle of the year is a hassle for kids and parents alike. Spring is a great time to sell because kids can finish out the school year and you’ll be able to move, register for a new school district if needed, and have everything in place before autumn starts and the new school year begins.

If you’re ready to list your home this spring, or if you’re ready to buy and want to start looking, my two decades of experience as a Realtor® can help! I love working with buyers and sellers around Clark County and am happy to help you with the information you need to start your adventure in buying or selling a home.

Posted on May 8, 2018 at 5:25 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , ,

How A Real Estate Broker Can Change Your Life

Considering buying or selling a home? Real estate transactions are very detailed and sometimes stressful. Each buying and selling experience is unique and working with a qualified and experienced Realtor® can help make the process go smoother, which means it will be less nerve-wracking for you! Here are some ways that working with a real estate broker will make your life easier.

#1: They can help save you money.
Working with an experienced real estate broker can help you save money because they are experienced in the negotiating process and can help you look for any potential snares or issues during the transaction that could cost you big bucks.

#2:  They can help with your perspective.
Not sure what you want in your next home? Or, maybe you think you know what you want. Perhaps you know exactly what you want to get out of the home selling process, but you haven’t thought about what comes next. After listening well, your Realtor® should be able to offer a unique perspective into your specific situation and help you think of things that you might not have initially considered.

#3: They’ll go the extra mile.
The buying and selling process is a big job in and of itself, but a great Realtor® will go the extra mile for you and recommend contractors, offer tips on redesign or remodeling that could help increase the value of the home, and will help answer questions that come up along the way. A quality Realtor® will be happy to share their information and wealth of knowledge with clients to help ease any anxiety that may be there.

#4: They’ll save you time.
One of the best parts of working with a qualified real estate broker is the amount of time they’ll save you. They will prepare papers for you, do all the marketing for your property, and help prepare you for any anticipated issues that could arise. A great Realtor® is a problem solver and this translates to less stress and less wasted time for you!

#5: They become someone you can count on.
The real estate transaction process can get complicated and when it does, a good Realtor® is someone that will go to bat for you when it’s needed. You should be able to depend on them when it gets hard – whether it’s negotiating, explaining all the lingo when you don’t understand it, or working through inspection obstacles, a great Realtor® will have your back, no matter what!

I’ve been proud to work with clients of all kinds throughout my two decades of experience as a Realtor®.  I love meeting and working with people to help them buy or sell a home in Clark County. Contact me today for information on what it will take to start your adventure in buying or selling a house.

Posted on April 16, 2018 at 8:55 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , ,

A Day In The Life of a Realtor

Realtors have a busy job that sometimes looks different from one day to the next. In addition to staying on top of what current real estate regulations and trends are happening within their sphere of work, real estate agents have a multitude of other tasks that come with the job of helping people through the process of buying and/or selling homes. For me, these tasks are part of what makes my job fun, and the different things that transpire week after week, are what keeps things interesting and exciting. Here’s a snapshot of what my days as a realtor looks like.

#1: Driving by homes.
I know that my clients are on the hunt for the right home, so I am on the lookout for homes that could work for active buyers that are in the market for their next space to call home.  Having an idea of what each client wants means that I won’t be bringing them to homes that are clearly not what they want. This saves time for all parties involved!

#2: Handle multiple emails/phone calls.
Aww, the never-ending list of inbox emails and phone messages. A lot of people can relate with this, so I make sure I spend time each day emailing and calling people that have requested assistance. Most of the time, I’m coordinating multiple details regarding showings, closings, offers with clients, escrow, lenders, and more!

#3: Coordinate details for new listings.
Considering selling a house? I work with many people that are not sure if they want to sell yet, so for these people, I work up a Comparative Market Analysis that provides information on recently sold properties in the area. These reports look at houses that are somewhat similar and give real estate professionals an idea of what price a potential client’s home could be listed for.

If you’ve just listed a house, there are a lot of little details that need to come together before it goes “live” to the public. For example, we’ll need to prep for an open house by ordering printed materials and snacks, order a sign for the yard, and put a lockbox on the listing so pictures can happen. These are just some of the things that need to happen before we can start showing the home.

#4: Go over repairs and other mid-sale to-dos.
For clients that have found a home that they’ve put an offer in on, there are often repairs that need to be requested. As a buyer’s agent, to determine a list of reasonable repairs and will advise which items are necessary and which could be left out. As a seller’s agent, I will review and recommend to the seller what the buyers requested, and which ones should be completed.

#5: Coordinate paperwork and financial details.
Once a home is ready to close, there are several pieces of paperwork and other financial details that need to be coordinated. There are often questions on specific terms within the paperwork as well as questions on when things will happen once papers are signed.  Whether it’s leaving a check for the contractor at a pending sale or laying out a schedule before recording for a client who will sign out of town, I work with clients to help make the paperwork process as easy as possible.

My daily responsibilities as a real estate agent require a balance. However, with my two decades of experience and my combined love of meeting with all varieties of clients, real estate is a natural fit for me. Contact me today for information on what it will take to start your adventure in buying or selling a home.

Posted on April 4, 2018 at 6:10 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , ,

How does my credit score impact my purchasing ability?

If you’ve decided to buy a home this year, you may have some questions about how your credit score will impact your purchase ability. This is a common question for many potential homebuyers, so here, I will discuss some of the primary things that you’ll need to know once you start the homebuying process.

Credit scores and credit reports will affect a borrower’s ability to purchase a home in a few different ways. Credit reports are a footprint that allow banks to review a borrower’s credit history. The information found in these reports will give them the information they need to determine the level or risk they’re taking by loaning money to this person. The higher the credit rating, the lower the risk for the bank. The lower the credit score, the higher the risk for the bank. In addition, remember that your credit score will affect the interest rate of the loan you obtain.

Here are some helpful tips on how to bolster your credit score and secure a good loan on the home of your dreams.

  • Make on-time payments on all borrower accounts
    • Missed or late payments will negatively affect your credit score
  • Satisfy unpaid collections, judgements and tax liens (even if these are medical in nature, it’s ideal to pay them off or settle prior to purchasing a home)
  • Establish a credit history by opening a credit line. We are often taught that credit cards are bad. However, they’re essential for establishing a solid credit rating to borrow future funds. The key is to keep the balance below 30% of the allowed limit, always. It’s ideal to pay the balance off each month as well.
  • Minimize credit iniquities. Too many inquiries can cause credit scores to drop.
  • Don’t close existing revolving trade lines if they’re in good standing. When you close a credit card you lose the on-time payment history which influences your credit rating. (1)

The specific details as to what credit scores are needed to obtain a specific home loan:

– Conventional Mortgage: credit score of 620
– FHA Mortgage: credit score of 580
– Veteran Affairs (VA) Mortgage: While the VA does not have a minimum credit score requirement, Quicken Loans requires a 620 credit score on all VA loans. (2)

The bottom line: the better your credit score, the easier it will be to get a loan for your home. Contact me today for information on what it will take to embark on your journey in buying or selling a home.

 

  1. Information courtesy of: Aaron Hicks, Mortgage Consultant with Homestreet Bank
  2. Information courtesy of: Jevon Domench of Academy Mortgage Corporation
Posted on February 20, 2018 at 5:04 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The dreaded inspection—jargon, issues, and “make or breaks”

If you’re buying or selling a home, the inspection process can be nerve-wracking for people. It often brings up questions or concerns that may be a little bit overwhelming at first. The inspection provides an overall evaluation of the home’s condition. Inspections can be complex, depending on the home and its condition. Every inspection provides a detailed look at all the working systems of a whole house. Then, depending on the home, there can be additional inspection processes that look at the sewer, oil tank, roof, or radon levels.  Doing an inspection should be written into your sales contract, so you can expect to have one from the get go.

When you’re getting an inspection, be sure to use a licensed inspector. These people need to complete continuing education courses and are experienced with inspecting a variety of different styles and homes of various ages. Your Realtor will give you advice on a recommended inspector or inspection company.

How the process works:
When a buyer gets an inspection done, the seller may not know what the results are for a couple of days. When the buyer gets the results, they will get a copy of the report and determine what they want to ask the seller to fix, if anything. Most often, the buyer has 10 days to get repair requests to the seller. The Realtor will help the buyer determine which “to-do” items are reasonable to ask for and what isn’t.

Once the seller gets the list, they are given some time to get quotes or bids on the items that need completion. Having an experienced Realtor to work with you during this process is important, as the back-and-forth process can create much dialogue. It is critical that everyone understands each other and having an agent you trust here can help guide you along through some of the confusing details. Many times, the inspection process requires negotiation and a Realtor can be an asset in this part.

As a seller, this time can be nerve-wracking, as you are waiting to get quotes done and wondering what the result will be! Your Realtor will help you decipher the requests that come in, determine what is customary, and negotiate on your behalf. Again, your Realtor will play an important role in helping you get through the many hoops that can sometimes happen with the inspection process.

Buying and selling a home requires many different steps and it’s okay to have a lot of questions along the way. The inspection process can be very involved, and I am happy to sit down and talk with you about it if you need additional clarification.

Posted on November 20, 2017 at 6:21 pm
Nancy Johns | Category: Home Buying Tips, Home Remodeling Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , ,

4 Things That Immediately Increase Your Home’s Value

Homeowners oftentimes ask me what types of home renovations or improvements they should complete to help increase their home’s value, especially if they’re considering putting their home on the market soon. There are a variety of things that can help update your home and if you do it right, they can bring in good returns when it comes time to sell the home. It’s important to note that some home remodeling or home improvement projects will add more value than others. Here are four things that can help increase your home’s value right away.

#1:  Updated bathrooms.
A freshly updated bathroom can bring in great returns when it comes time to sell your house. You don’t need to do a full remodel, either. Simple updates like new sinks and toilets or updated flooring can be easy and inexpensive ways to increase value.

#2: Updated kitchen.
A fully remodeled or updated kitchen is one of the best things you can do to add value to your home. New cabinets, flooring, and countertops make all the difference when it comes to selling your home. If you decide to list the home without doing any updates or repairs to the kitchen, it’s common for prospective buyers to think they must remodel the kitchen space completely from scratch, overestimating how much a remodel will be.  A kitchen remodel may be less than a buyer might think, so it’s great to get this part done so you can yield the returns when it comes time to sell.

#3: Exterior maintenance.
New exterior paint can do wonders for curb appeal! In addition, stay on top of other exterior maintenance to make sure it’s free from dry rot or other issues that could cause a potential buyer to worry. Make sure your roof is cleaned regularly and that a roofing professional checks it for leaks or missing shingles, but do not pressure wash it. If these aren’t repaired and come up during an inspection, it could mean an expensive repair or a price reduction in your home, so it’s better to get things maintained and taken care of before the house goes on the market.

#4: Updated color palette.
Looking for an easy and inexpensive way to create a relaxing ambiance inside your home? Freshen up the paint in your home to make sure it is updated to some currently popular colors that could be appealing to a broad audience. Fresh paint goes a long way. You’ll not only make the space feel brighter and cleaner, but painting with an updated color palette will give prospective buyers the opportunity to better envision themselves living in the space.

Not sure where to start when it comes to picking reliable companies or contractors to help you with your home maintenance or home remodeling projects? I am happy to give you some names of local contractors that I work with regularly and I’m also glad to visit your home and help you decide which to-do items would be the best bang for your buck.

Posted on November 6, 2017 at 10:07 pm
Nancy Johns | Category: Home Remodeling Tips, Selling Your Home | Tagged , , , , , , , , , , ,

3 Home Buying Mistakes To Avoid

There are many facets of buying a home and the process can be a bit overwhelming at times. However, buying a home is very exciting and if you avoid various home buying mistakes, it will make your home ownership process one that is rewarding for many years to come. I recommend that home buyers avoid these three common mistakes when it comes to purchasing a house.

#1: Not working with a buyer’s agent.
A knowledgeable Realtor can help provide advice that fits your specific situation. An experienced buyer’s agent has worked with hundreds of different home buyers and they can help you understand what’s happening each step of the way. You’ll also be able to ask questions that may come up and your agent will also help you plan for closing costs and other costs that may arise. In addition, a buyer’s agent will help you know if a home is worth the price, what its resale value might be, and they will be your advocate when it comes to negotiations. When it comes to buying a home, you want someone on your side, and a qualified Realtor will be there the whole time.

#2: Not getting pre-approved.
Getting pre-approved for a mortgage serves dual purposes: it shows sellers that you’re serious and it also gives you a realistic idea of how much you can afford for a home. Work with a lender that you trust and gather up all relevant financial documents like pay stubs, tax returns, and bank statements. Your lender will work with you to get the information needed to provide an accurate pre-approval letter. Then, you can start shopping for homes within your budget.

#3: Not getting an inspection by a credentialed inspector.
A credentialed inspector will help alert you to any potential problems that the home may have such as faulty wiring, plumbing leaks, or structural issues. A layperson generally wouldn’t be able to spot these things, so when it comes to spending hundreds of thousands of dollars on a home, it’s worth it to pitch in a little bit extra to pay for a qualified and experienced inspector that holds proper credentials. Skipping that step could be costly, and you may end up paying for it later when you discover something major is wrong with the home.

If you’ve decided that you’re ready to buy a home this autumn, contact me today to help you get the ball rolling!

 

Posted on October 16, 2017 at 3:42 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , ,

Should I list my house in the fall?

Now that school’s started, you might be thinking, is this a good time to list my house for sale? Autumn brings a new rhythm — the busy summer has passed and people are getting back into their day to day routines. Here are some great reasons why the Fall season is a good time to sell.

#1: Demand.
Although the market slows a bit after school is back in session, homes are still selling quickly because inventory is still low. Especially under the $450,000 price point, and potential buyers during the Fall are typically more serious about making their purchase decision. Nationwide, buyer demands strong too, according to a recent report out of the National Association of Realtors.

#2: The weather is still cooperating.
For the most part, autumn can be a good time to move because the heat of the summer has passed and the torrential downpours haven’t begun yet. No one wants to move when it’s blazing hot or when it’s snowing! Of course, the Pacific Northwest does get its fair share of cloudy and rainy days, but for the most part, autumn weather is cooperative.

 #3: It’s a great time to make your next step up.
Because inventory is still low, it’s likely that your home will sell quickly. If you’re looking to make a next step up in the home buying process by buying a bigger house, now is a great time to consider making the jump. Experts predict that home prices will continue to rise within the next year, so if you wait, your dream home may increase to a price that is out of reach.

Home shopping during the fall can be great! Changing leaves make for great natural curb appeal – homes are looking cozy and ready for the upcoming chilly weather. If the time has come for you to get your home listed, contact me today to get the ball rolling!

Posted on September 19, 2017 at 3:34 am
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , ,

Mortgage Insurance–what am I insured against?

If you’re in the process of purchasing a new home, on your bank paperwork, you may have noticed something called “mortgage insurance.” Not sure what it is? There are several different types of insurance that homeowners should be familiar with. Here, I will explain the basics.

Title insurance:
Title insurance from the seller comes from the title company. It protects home owners and lenders from damage or property loss that may happen because of liens or other defects in the title to the property. Each title insurance policy is subject to specific terms, exclusions, and conditions.

Homeowner’s insurance:
Homeowner’s insurance/hazard insurance/fire insurance is a policy issued from an insurance company and it protects your property as well as the contents and possessions inside. It also provides liability coverage against accidents in the home or on the property.  At closing, homeowners will pay for the first year’s policy in full.

Mortgage insurance:
This type of insurance is not a benefit to a homebuyer. When a lender provides a loan and the buyer puts less than 20% down on the purchase, the lender takes a bigger risk. If the buyer ends up defaulting on the loan and they don’t have much “skin” in the game, it’s possible that the lender won’t cover their loan amount when it comes time to liquidate the property. This cost can be paid within your monthly mortgage payment or up front and it will cover the lender’s loss if something were to happen. For some types of loans, particularly FHA loans, the premium will last for the life of the loan, even though your equity position might get you above the 20% mark. Conventional financing will typically have a provision for mortgage insurance that can be removed once the homeowner has 20% equity in the home.

Buying a home requires many different steps and there is a lot of research that is required. The insurance process can be complex and sometimes confusing, especially if you haven’t gone through the home buying process before, and that’s one of the many reasons why it is important to work with a well-qualified, experienced, hands-on Realtor. If you have questions about it, I’m happy to sit down and talk with you about any questions you may have!

Posted on September 5, 2017 at 7:31 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , , , ,

Reduced commission vs full rate services

If you’re thinking about selling your home, you have a lot of different factors to consider. You’re thinking about where you’ll move and what it will cost, and finding a qualified Realtor is one of the biggest decisions. If one of your questions involves finding out more information regarding reduced commission versus full rate services, here I’ll cover what the three basic levels of fees and services include.

#1: Very Discounted Services: This will include access to the MLS only. The seller will input all information and will set the buyer’s agent fee. The seller pays for marketing and will negotiate elements of the contract. This can work for some situations, but being an unrepresented seller in today’s complex market can be risky and oftentimes results in a lower net price. Most buyers will have representation, so the fee you save is really only half of the full real estate fee.

#2: Cut-rate fees: This will again only save half of the real estate fee, as buyers are usually represented by an agent. With full service representation, you usually get more experienced and knowledgeable agents to work with you. This is the “secret sauce” that can save you big time in the end – especially in the areas of price negotiation, inspection negotiation, and other timing issues that can derail the overall transaction.

#3: Full-service: When using a full-service Realtor, you’ll get a fully developed and proven marketing plan. The Realtor will additionally help you develop a pricing strategy that will help get your home sold in a timely way. You’ll work together to address issues upfront that could cause a buyer to pass by your home. The key here is knowledge, knowledge, knowledge! An experienced Realtor has been part of numerous, varied transactions that can help benefit you throughout the process so you can get the best price for your home with the quickest closing date and the least hassle.

If you have decided that it’s time to make the jump to sell your home, now is a great time to do that. The information around fees can be a complex topic to consider, so if you have additional questions, I am happy to sit down and talk with you about what could work for you and your specific situation.

Posted on July 31, 2017 at 3:45 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , ,