Tag Archives: Baton Rouge Real Estate

3 Reasons Your Real Estate Agent WANTS You To Bother Them

19 Wednesday Jun 2019

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YOU CAN BOTHER TEAM SISTERS ANYTIME….  YOUR AGENTS FOR LIFE!

Real estate agents hear this all the time…

“I wish I had called you before. But I just didn’t want to bother you. I know you’re busy…”

…after it is too late.

There are times when you might feel like you shouldn’t “bother” the real estate agent you know. (Could be your friend, a neighbor, your brother-in-law, cousin, your sister…)

Maybe you’re truly trying to be considerate.

But, maybe it’s because you’re not even aware that you should.

Or, you just don’t want to feel obligated or pushed into doing something. (Despite what many people think, most agents are not pushy. Most are the exact opposite.)

So, let’s go over a few times that you should “bother” your real estate agent. Because it really isn’t a bother.

In fact, we’ll get into why it will bother them if you don’t reach out to them for any of these things.

1. You just want to check out a house.

You see a house online. Or a For Sale sign. Maybe even just stumble across an open house.

You’re not all that serious about buying a house. Maybe you’re only just starting to think about it. Or, maybe you have no desire at all to move, and you’re just curious and want to take a peek.

So, you don’t want to “bother” the agent you know to show you the house.

Instead, you call the listing agent. Or some random agent you don’t even know. Or just walk right into the open house.

Next thing you know, you love the house. You’re making an offer. The offer is accepted. And then you regret it. Or problems come up. Or the process is miserable. Or you don’t feel like the agent you’re dealing with is giving you the best advice.

And that’s when you call the agent you know.

Too late. At that point, the agent you know can’t help. (Or at least shouldn’t…) Because now you are represented by another agent. The agent you know can get in a lot of trouble for even giving you friendly advice.

As innocent as it seems, when you just want to go see a house… you are inadvertently making a bigger decision than you think — you are deciding who will represent your interests, advise you, and help you through the process.

Even if you just go see a house with another agent, and before you even make an offer you decide to have the agent you know write up the offer and represent you… the agent who simply showed you the house could claim you as their client. It’s called “procuring cause”. I won’t get into the details here, but it can become messy.

You’re better off calling the agent you know to show you the house in the first place. You won’t be considered a bother.

What will bother him is to have to bite his tongue and not give you the help you want further into the process.

2. You want to know how much your home is worth.

Maybe you’re just curious about how much your home is worth. Or, maybe you’re actually thinking of selling. It might be because you want to get a feel for your net worth.

Nowadays, you can hop online and check out any number of sites that will give you the value of your home.

So, why “bother” the agent you know about this?

Because most of what you will find online is highly inaccurate to begin with. They are “automated” valuations. They are based upon data and algorithms. They have never even seen the inside of your home. They do not take into account your local market conditions.

And if you base your hopes, dreams, and decisions off of an inaccurate value, that can hurt you quite a bit.

Again, asking the agent you know to do an analysis and give you a true market value… not a bother.

But, it would be bothersome to hear that you’ve based important life decisions off of an inaccurate value once it’s too late.

3. You are considering a home improvement project.

The real estate agent you know probably isn’t an architect. Or a builder, a plumber, an electrician, a painter, etc. So, they probably can’t advise you about the ins and outs of a specific project or costs.

But once you have a sense of the proposed cost of a project, before you just pull the trigger and move forward, you really should “bother” your agent for their input.

Putting on an addition? That will surely increase the value.

A kitchen or bathroom remodel? Yep, your house will be worth more.

But will the value increase more than the amount you spent? Will that matter in your situation? Will the choices you make in decor, layout, or fixtures appeal to a buyer down the road? Does that even matter, given your future plans?

All questions and thoughts your agent can get into with you. Before you spend the money and go through the headaches of a huge project.

On the other hand, if you go forward with a home improvement project and spend, let’s say $60,000, and then call your agent…

You could seriously regret how much you spent, or even doing the project at all.

Your agent doesn’t want to break the news to you that your home is only worth $38,000 more after you spent $60,000. There is no joy in that. There is nothing that can be done at that point.

That’s just three examples. There are certainly more. But you get the point…

So, reach out to your agent before you do anything real estate related… and just trust that it isn’t a “bother”.

 

Credit: Lighter Side of Real Estate

White Oak Landing!

01 Saturday Jun 2019

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If a View of the Amite River is on your wish list, then you will want to schedule your private tour of this spectacular ONE OF KIND home in White Oak Landing. This SIX bedroom / SEVEN & HALF bath home, with over 5300 Sq.ft of living offers space but oh so much more! The Views from the Den, Master Bedroom, open and screened Patios are spectacular from the vast wall of windows. You will have access to viewing nature in its full view on the banks of the river. Upon entry you will be greeted with a Grand Plantation Style Foyer and exquisite Mexican style flooring. The large formal / dining area have Oak wood floors, chair rail, and Crown molding. The home has a private wing for the master Bedroom featuring new paint and flooring, and wood burning fireplace with a gas starter. Amazing PRIVATE BATH SUIT for her and one for him, Claw foot tub, dressing and sitting area on her wing, and an extra large whirlpool spa, separate shower, and sauna on his wing with large walk in closets for both. The right side of the home host a private wing to the other five bedrooms & Private baths, with walk in closets, new upgrades, paint, ceramic tile and parquet flooring. The kitchen has cabinets galore with new slab granite and butcher block island. Newer upscale appliances with double door sub zero refrigerator, separate ice maker / trash compactor, wall oven, microwave, and dish-washer. The Breakfast area has a tranquil view overlooking the large in-ground gunite pool and the view of the river. The Great Room is massive with 5’ Oak Hardwood flooring, Large brick wood burning fireplace/gas starter, and raised hearth, beautiful built-ins, and two station doors leading to the covered patio and pool. Once outside you will enjoy the privacy and seclusion that this home has to offer. There is an outdoor kitchen and a 361 sq. Ft. POOL house with brick floors and an additional private 1/2 bath (sq.ft not included) The Sub offers estate size lots, hiking, fishing lakes, & security.

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Don’t Have a CLUE?

27 Tuesday Jun 2017

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If you haven’t heard of a CLUE report, it has nothing to do with the table game searching for a murderer. It is a report showing the insurance claims on your home and car for the past five to seven years.

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This database is used by insurance companies to evaluate risks and determine rates. C.L.U.E. stands for Comprehensive Loss Underwriting Exchange. Rates can be increased not only due to legitimate claims but data entry errors also. Sometimes, simply asking a question without filing a claim can be logged as a claim.

For that reason, similar to verifying the accuracy of your credit report, it is important to check out the CLUE report on your home and car. The reports are free and there is a process for correcting mistakes.

An interesting and sometimes costly surprise occurs during the home buying process. The claim experience of the prior seller could impact the price of the premium of the new buyer. For that reason, you can ask for a copy of the CLUE report on the home you’re interested in buying prior to writing a contract.

21910 Rabbit Run

19 Monday Dec 2016

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Rare Gem located in serene Mallard Lakes. You can come home to a custom built beauty just minutes away from the city & enjoy living in a luxury retreat every day. Take time to visit this exquisite listing in the upscale neighborhood of Mallard Lakes that offers 6227 sq. ft. with 5 bedrooms, fame room, 4 full baths, & two half-baths, room for the family & guests.

Wake up each morning to the glorious view retreat-like setting with salt water pool, waterfall, Jacuzzi, & quartzite deck that overlooks one of the three contained ponds. You can cuddle up with a good book by the double sided fireplace inside, or take advantage of the outside kitchen and fireplace when you are ready to entertain. The custom finishings in this home are extensive. Let’s start with an elevator that will take you to the media room, or the attic if needed, take the time to go to the man cave above the garage. If that wasn’t enough to keep you busy, take solace in the complete private master retreat and bath. Total indulgence with the custom designed double walk through rain shower, Jacuzzi tub, marble counters, & custom designed mirrors, along with ample counter and storage space included in the adjacent MASSIVE walk in closet. You will love the over-sized island where you can store everything imaginable in this 14’ x 17’ space, along with a wall of a hanging room that accommodates attire for every season of the year. Step right into the detailed laundry room where there is more storage, shelving, and unique features. With three beds, 2 baths, & media room on the second level, there is still plenty of room for your guests in the private mother-in-law suite on the main floor that has its own private bath, custom shower & private entrance to the pool. Covered parking for 5 …ample parking space for more with plenty of land to take quiet peaceful walks in the morning or afternoon.

Schedule your private tour soon and be one of the first to take advantage of this amazing property.

 

The Right Questions are Key

11 Monday Jul 2016

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Asking the right questions will lead to the answers that help you determine which agent to use for one of the largest investments that most people make…the purchase or sale of their home.

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Rudyard Kipling wrote the verse “I keep six serving men, they taught me all I knew; their names were what and why and when and how and where and who.” Prefacing your questions with one of these words can help you get the information you need to make a good decision about the REALTOR® you use.

  • How long have you been selling homes and is this your full-time job?
  • What designations or other credentials do you have?
  • How many homes did you and your company sell last year?
  • What is your average market time compared to MLS and your top competitors?
  • What is your sales price to list price ratio?
  • When will you report to me on the progress of my transaction?
  • Who can you recommend for service providers like mortgage, inspections, repairs and maintenance?
  • Why do you want to work with me?
  • Where are the biggest opportunities to expose my home to the largest market?

Finding the right person to represent you is a little like the person who ordered a lobster dinner at a restaurant. When the waiter brought out the meal, the lobster only had one claw. The customer asked why it only had one claw and the waiter said: “I don’t know; I guess it was in a fight.” The customer looked at him and said: “then, bring me the lobster who won.”

The Obvious Alternative Investment

24 Tuesday May 2016

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Rental homes can be a natural alternative investment choice for homeowners because they are already familiar with houses. Maintenance on a rental is not that much different than on your personal home. The same plumbers, painters and other workmen can be used to make repairs.

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Single family homes offer an investor high loan-to-value mortgages at fixed interest rates for long terms on appreciating assets with defined tax advantages and more control than other investments.

  1. High loan-to-value mortgages – most investments require that you pay cash but rental properties can be purchased with 20% down payment.
  2. Fixed interest rates – most commercial loans are based on a floating rate such as prime interest plus one or two percent compared to real estate loans as fixed rates for the term.
  3. Long terms – commercial loans are generally short-term such as six months or a year with the possibility of being renewed for another six months or a year unlike real estate where a 30-year mortgage is commonplace.
  4. Appreciating assets – real estate has a long-term history of going up in value.
  5. Defined tax advantages – many investments are taxed as ordinary income but rental real estate enjoys a non-cash deduction called cost recovery, the profits from sale are taxed at lower long-term capital gains rates or may be eligible for a tax-deferred exchange.
  6. Control – rental homes don’t require partners and afford the investor more options than investing in mutual funds and other traditional investments.

The demand for good rentals is strong and the rents continue to go up in most markets.  There are people who choose not to buy or cannot buy a home who would prefer to live in a single family home rather than an apartment.

7 Out of 50 Could Save Money

16 Monday May 2016

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It is estimated that seven million out of 50 million homeowners could save money by refinancing their existing mortgages. Obviously, if the replacement mortgage has a lower rate than your existing one, you will save money.

If you bought a home before 2011 and are paying mortgage insurance, you should investigate refinancing to eliminate that requirement. Even if you don’t get a lower interest rate, the savings could amount to hundreds of dollars a month.

If a home you purchased since 2011 has appreciated enough, it could easily justify refinancing to eliminate the required mortgage insurance. Most loans don’t require mortgage insurance if the loan-to-value is 80% or less. There are some programs for 90% mortgages that don’t require mortgage insurance. It is certainly worth investigating with a trusted mortgage professional.

Continuing to pay mortgage insurance that could be eliminated is like having a broken cell phone and continuing to make the monthly payments for something you can’t use and don’t need.

If your current mortgage is several years old, instead of getting a new 30 year mortgage, you might consider a 15-year term. The money you save with a lower interest rate could help you to retire your loan in a shorter time so that your home would be paid for.

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Your Best Investment

12 Monday Oct 2015

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According to a Federal Reserve report on Consumer Finances, homeowners’ net worth is 36 times greater than that of renters. Building on that study, the National Association of REALTORS® believes that by the end of 2015, the factor will grow to 41 times greater.

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There can be several factors that contribute to this disparity but an important one is the forced savings that is achieved due to an amortized mortgage. A portion of the payment goes to the reduction of the principal balance of the mortgage which increases equity in the home.

Appreciation is also a major contributor to homeowners’ equity. Homes, in most areas, have consistently increased in value over the long term and during the past four years have experienced solid growth. Many economists expect home prices to increase in the next five years.

Let’s look at a scenario where a qualified buyer considers three different options to see what their investment would be in five years: purchase a certificate of deposit, invest in the stock market or buy a home. The following assumptions are made: a $250,000 home with an $8,750 down payment with a 4.5% mortgage for 30 years and 3% annual appreciation; CD rate at 2% and a 5% return in the stock market.

The $8,750 would grow to $9,661 in the certificate of deposit, to $11,167 in the stock market and to $69,900 in equity with a home purchase. That is over a six times growth in the same period of time due to the amortization of the loan and the appreciation.

Check out Your Best Investment to compare possible differences in your price range.

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Build Equity Faster

13 Monday Jul 2015

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Equity is an asset and an appreciating home is an investment. While some people have resolved themselves that a mortgage payment is a normal part of life, others have set goals to get their home paid for as soon as possible. There are several strategies that will work but they all require persistent vigilance.

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A shorter term mortgage such as 20, 15 or even 10 years will not only pay off sooner, it will generally have a lower interest rate. A recent comparison at Freddie Mac’s Primary Mortgage Market Survey showed a 30 year fixed-rate mortgage at 4.04% compared to a 15 year fixed-rate at 3.20%. The fees for the shorter term were even .1% less. The shorter term with the lower rate would have a higher payment but some people consider it forced savings.

Additional principal contributions to any length fixed-rate mortgage will save interest, build equity and shorten the term of the loan. Some homeowners may apply lump sums at various times during the year such as when bonuses are paid or a tax refund is received.

Other owners might increase their payment by $100, $200 or more each month. Setting the increased payment through electronic banking would insure that you consistently make the extra amount.

Bi-weekly payments make 26 half-payments in a year which equals 13 full-payments. Because of the frequency, it reduces the interest that is due. This might work well for borrowers who are paid every two weeks but could present cash flow problems for those who are paid on schedules that don’t coincide.

Making one extra payment a year will have almost the same effect as a bi-weekly payment. The 13th payment would be completely applied to principal.

Before embarking on one of these strategies, it would be wise to verify with your lender that it complies with their policies. Check out the Equity Accelerator to see how it could affect your loan.

So, you want to buy a Home? “You’d Better Shop Around”

27 Friday Mar 2015

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Home Loan Center

When thinking of purchasing a home the first thing to consider is how much can I afford? Getting pre-approved is key in becoming a strong buyer, and one that the seller will take seriously when the time is right to make an offer. Having your pre-approval takes the stress off of wondering if the home you are looking at, and falling in love with, is within your means.  It also places your Realtor in a better position of knowing how to serve your needs and that of your family.  Put the joy into house shopping by taking the stress out first with a solid pre-approval.  Shop around and get acquainted with different lenders and loan programs that you may qualify for. Again, your Realtor is in the know on how to guide you in the right direction.  Make sure that you tap into the wealth of knowledge that your Realtor can offer.  After all, you do not shop for mortgages everyday, but your Realtor is always in touch with the best local providers.  Below is a consumer tool kit that can assist home buyers become educated on what is needed in purchasing a home.

http://www.consumerfinance.gov/owning-a-home/check-rates