We continue to hear about people who simply are not able to make their monthly house payment and lose their home to foreclosure. This is heartbreaking that you think you cannot sell because you haven’t been in your home long enough to even break even much less walk away with a little equity. So often home owners rely on the advice of well-meaning friends or family, or sometimes the advice of an inexperienced sales person. If you find yourself in this situation, remember to rely on the expertise of someone that has the experience and knowledge to give you the right advice.

Sometimes it helps to negotiate a deed in lieu of. Simply put, the holder of your note will take the deed in lieu of a certain pay-off of your mortgage note, a professional real estate agent that has the expertise to negotiate a short sale for you can help maneuver you through this process. Not all homeowners or laons will qualify for this process however if you do qualify it could mean the difference in your ability to purchase another home when that time comes around again. There are other considerations such as taxes etc. that may come into play. A real estate professional that is experienced in handling short sales can be very beneficial when faced with this type of situation.

Don’t wait until it is too late. If you find yourself in this situation, give us a call. We promise we’ll let you know how we can help.

                              What™s the first thing I should do?   This is not an unusual question for first time home buyers.   Even some folks who have purchased a home previously, though it may have been several years ago, may ask œwhat has changed and what should I do?

The very first thing to consider is:   œWill you be paying cash or getting financing?   If you™re like most others, you™ll need to secure a loan commitment.   We can help you find a lender, or you may already know someone that you prefer talking with.   If you contact our office, we™ll be happy to give you a list of the things you™ll need to take to a lender to get pre-approved for a loan.   Most lenders will also be happy to give you this information in order for you to get everything together.

Once a lender establishes the maximum amount they™ll loan based on your particular situation, you will then decide what kind of monthly payment you™ll be comfortable making.

Now that you™ve completed the first step, contact an agent (we hope that will be a WEICHERT agent) who will be happy to help you find that perfect (well “ almost perfect) home.   Now is a great time to purchase based on the affordability of homes combined with the unusually low interest rates.   Your agent will sit down and ask the most important features you will be needing in your new home then set up any homes that meet these needs or wants.   Once you preview some of the homes, the agent will be more knowledgeable about the things that are most important to you.  

Once you™ve found the home, you™ll write up a purchase agreement.   When the offer is accepted by the seller, the agent will guide you through the process of closing which usually takes about 30 days.

Never hesitate to ask questions.   We™re here to help.   Any question you consider important enough to ask IS important.  

Welcome to Pat Mote’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Benton, Bryant and the surrounding areas.

RISMEDIA, ”Buying a home is one of the biggest decisions an individual can make. So it™s understandable that one considering a home purchase may take their time to avoid rushing into such a large financial commitment. However, several factors might leave prospective home buyers who don™t purchase a property now wishing they had taken action sooner. Read the rest of this entry »

John Mayfield helps us with these simple tips to help you hold your health, family, and career together.  

Remember the odds.One of the truisms I always remind myself of is the fact that, normally, events work out in some fashion. Think about how many transactions you’ve had that looked like they would go sour. In most cases, those deals probably worked out, even if they didn’t go as perfectly as you might have hoped.Most transactions will hit a snag here and there, but generally deals do get done.  Constantly stressing out about problems and issues will get you nowhere, and if you ponder the situation too long, it will definitely result in major anxiety. Don’t misunderstand I’m not saying you should avoid problems, but you can remind yourself during rough times that you can still find compromises and solutions in almost any situation.  

Eat your big fish first.When faced with a mounting obstacle, don’t blow it off until later. Confront it first thing that day. You might be tempted to put off the problem and tackle the easier, smaller stuff first. But this usually winds up prolonging and intensifying the stressful situation.  Instead, go ahead and “eat the bigger fish” on your plate so you can get it out of your way and stop worrying about it.  

Be honest and take responsibility when it’s your fault.Stress can be caused by a wide variety of factors. Sometimes it can be created by our own foibles or when we just drop the ball. It’s difficult to tell someone you forgot to put their papers in the mail or misplaced a key. But if you want to avoid further stress, be honest about the situation and take responsibility.I’ve found that whenever I’ve made a mistake and explained to a customer what happened, admitted responsibility, and apologized, it almost always produces a positive outcome. Procrastinating or masking over a problem will not give you any peace of mind, and it certainly won’t reassure your clients.  It can be difficult to admit “I made a mistake” or “I’m sorry.” But being honest ultimately goes far in winning trust with all the parties involved.  

Exercise.When nothing else seems to be going right, try to squeeze in a workout. Going for a walk, run, bike ride, swim, or other exercise is an excellent way to feel better.  Exercise can improve your mood because it releases endorphins in your brain, a hormone that can even trigger feelings of euphoria. Physical exertion can add a wide variety of benefits to your life and is excellent for relieving stress. Be sure to consult your physician before starting any major new exercise program.    

Remind yourself that this, too, shall pass.Often you can be in a stressful situation and feel as though it will never end. For many of us real estate professionals, the current environment has been incredibly stressful and shows few signs of relief. But our country has always been able to rebound, and the real estate market will once again rise up from record lows.  Rather than thinking the situation will never get better, remind yourself that it eventually will improve. It may not be in the next few months, or even until the next year or two, but the real estate market will recuperate and make lasting progress. Understanding that better days are ahead allows you to keep going a little farther.  

John D. Mayfield is a sales coach, author, and broker/owner of Mayfield Real Estate in Farmington, Mo.

^[1]RISMEDIA, December 15, 2009”(MCT)”Interest rates on the benchmark 30-year, fixed-rate mortgage dipped to a 38-year low recently, giving consumers another reason to consider purchasing a home or refinancing their current one.

Freddie Mac recently stated the average rate on a 30-year loan was 4.71% with an average 0.7 point, the lowest rate since the agency began its weekly tracking of long-term interest rates in 1971. A point is equal to 1% of the loan amount, Read the rest of this entry »

      I know several real estate agents that obtained their license and are happily selling real estate after retiring from another career.   That™s just one of the reasons real estate is such a great job.   There is no certain personality, age or gender that seems to dominate the field.  Although a good attitude is the one attribute that most successful agents possess, there are others as well.  

  When I first started selling real estate, a salesman (not in real estate) told me to never forget the one thing that can make or break a salesman is persistence or the lack thereof.   I agree.    Some agents feel that persistence makes them seem too œpushy.   That™s where the personality part comes in.   I™ve found that people won™t feel you™re being pushy if you always keep their needs in mind.   Your motive should always be œHow can I help them reach their goals.   Of course we must know what their goals are in order to accomplish this.   We find out their needs or goals by asking the proper questions and really listening to them.

    A career in real estate may not be the easiest job in the world, but it can certainly be one of the most rewarding.   If you™re one of those people who has retired or will soon retire and would like to stay active and keep working, maybe you should consider real estate.   One thing is sure: people will always need a home.

Statistics from the National Association of

Homebuilders show that the square footage of

homes has shrunk in recent years. This is a trend

that is likely to continue given the current

economy.

This may be an opportune time for owners of smaller homes to sell, according to

a recent article published in Realty Times, which provided these tips for giving a

small home big appeal to buyers:

¢ Accentuate storage space. A buyer must sense that a smaller home

has enough storage space to accommodate their everyday needs. Clear

out the attic and/or basement if the home has them. In addition, built-in

furniture or custom closets also provide convenient, hidden storage.

¢ Create an office niche. Home offices are very popular, but a smaller

home might not have an extra room to use for this purpose. Using a

decorative screen around a small desk or tucking one away beneath a

staircase shows buyers how they can still have a home office in a small

space.

¢ Make the most of space. In the kitchen, clear appliances from the

counters and mount them under the cabinets for a clutter-free look. Avoid

crowding a small living room with an oversized couch, and instead

consider several comfortable chairs that may fit better and open up the

room.

¢ Your trash may be somebody else’s treasure. Before you start packing,

take time to go through your belongings and get rid of things you won’t be

likely to use in your new home or that just aren’t worth the effort to move with

you. Hold a garage sale or consider giving away your unwanted items using

Freecycle.

¢ Remain organized with a packing system. Not only will you want all of your

boxes to make it into the right part of your house, but there will also be certain

boxes containing necessities that you’ll want to open first. Use colors to

differentiate which room boxes go to, and provide a color key to the movers.

Also number each box and make a master inventory list to remind you of the

contents of each one.

¢ Stay one step ahead of the movers. Before your possessions arrive and

the unpacking begins, head over to your new house if possible to do a little

cleaning, painting and make any other improvements necessary. It is much

easier to do these things while the house is empty.

 

A little preparation can go a long way in ensuring a smooth move, so plan ahead,

stay organized and remain focused on the end result: your new home!