Real Estate Podcast with Donald Payne

The Super Eye Box is a fantastic tool we use to keep your property safe. Today we'll talk about how technology is affecting real estate. The Super Eye Box is a great example. The Super Eye Box is used by our local board of Realtors. It basically functions as a timestamping lock. It's designed so that only real estate agents can get into the property. Every agent has a four-digit pin, and every entrance into the property is logged. This product keeps your home secure so you can know exactly what's happening inside your property. We use these on every personal property listing with the homeowner's approval because we want to make sure the home-selling process is simple and secure. If you have any questions, don't hesitate to reach out to us by phone or email. We look forward to hearing from you.

The Supra eKey is a fantastic tool we use to keep your property safe. Today we'll talk about how technology is affecting real estate. The Supra eKey is a great example. The Supra eKey is used by our local board of Realtors. It basically functions as a timestamping lock. It's designed so that only real estate agents can get into the property. Every agent has a four-digit pin, and every entrance into the property is logged. This product keeps your home secure so you can know exactly what's happening inside your property. We use these on every personal property listing with the homeowner's approval because we want to make sure the home-selling process is simple and secure. If you have any questions, don't hesitate to reach out to us by phone or email. We look forward to hearing from you.

A firsthand account of what our rates have looked like since 1979. We've been in this business since 1979, so today we wanted to talk about the history of interest rates. We've seen it all firsthand, and looking back at the past can tell you more than you'd think about the future. You can watch the full video above or skip to each section using the timestamps provided: 0:00 — Introducing today's topic 0:21 — We went from 7% to 17% in 14 months 1:37 — Coming out of the high rates 2:16 — The roaring 2000s and how loans got deregulated 3:00 — What exactly are subprime loans? 4:06 — What did rates look like in the Great Recession? 5:54 — The market started shrinking in 2018 6:56 — Real estate moves in cycles If you have any questions about interest rates or real estate in general, feel free to call or email us. We'd love to hear from you.

Here's my advice for homebuyers in today's real estate market. Today I have a few quick tips for homebuyers. With this COVID situation, our supply lines are kind of jammed up. Hopefully, we can get things back to where they were.  For the time being, inventory is short, and if you see something good come on the market as a buyer, you have to get at it right away by putting your offer in first. Getting pre-qualified has never been more important. Building a home is harder than it has been in the last few years, but it's still a great option if you can afford it. It will take longer to get built, but you can secure a home you love. You may also end up walking into quite a bit of equity because you've already locked in a contract.  We can certainly help you buy a new construction home. If you have any questions for us about building, buying, or real estate in general, don't hesitate to reach out via phone or email. We look forward to hearing from you soon.

Here's part one of our discussion on my career and today's market. Vision Realty has been in business for over 30 years at this point, and we've seen every different type of market. Don Jr. and I sat down to talk about what I've seen and learned throughout my time in the real estate business, the current state of the market for investors, and much more. Today we're sharing part one of that discussion with all of you. Feel free to watch the full video, or use these timestamps to browse specific topics at your leisure: 0:00 — Introduction 0:25 — Why we picked our current location in Columbus, and why we've been here for so long 1:15 — The great opportunity this market presents for real estate investors 3:13 — How Intel's arrival in Lincoln County is going to be a huge boon for our market 3:55 — A journey of rising and falling interest rates throughout my career 6:00 — How interest rates rise and fall based on the Federal Reserve's actions 7:30 — How long have I been investing in real estate? 8:34 — What I still love about the real estate business after 42 years 10:20 — How communication methods have changed and why I prefer face-to-face conversations 11:09 — Final thoughts on the market If you have any questions about buying, selling, investing, or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Sellers should avoid these red flags often found on home inspections. When a buyer gets a home inspection, some issues might come up that they see as red flags. Before you put your home on the market, take a look around and repair anything the buyer may see as a red flag.  I highly encourage you to check your windows. Are the seals solid, are the panes cloudy? Those are two things you should fix before your home goes on the market; buyers will see those as red flags. Another problem may be the furnace. If you have an older furnace, you should have it serviced by a local HVAC professional, and have them put a sticker on your furnace that says it's in good working order. “Any of these problems may prevent the transaction from moving forward.” The next thing to look for is moisture in your house, especially in the corners of the basement. Take a look at your gutters to make sure they aren't the cause of moisture collecting in the basement. Make sure there's no moisture on the bedroom ceilings; moisture stains can mean a potential water leak. If you find moisture in your home or a black substance anywhere, it could be mold. Any moisture will make buyers uneasy. My last tip today is to examine your home for peeling paint—another red flag to many buyers. Double-checking for these things in your house will save you a lot of headaches, time, and effort. Any of these problems may prevent the transaction from moving forward. These are just some of the issues to check for in your house. If you have any questions or concerns about possible home inspection issues on your property, reach out to me via phone or email. I would love to help you.

Here's a tax break that all home sellers should be taking advantage of. If you're thinking of selling your home, I have a tax tip to share today that could help you. If you sell, there are some capital gains exemptions you can file for when you list your property.  If you're a single filer, you can exempt up to $250,000 of capital gains on your sale. If you're a couple who's filing jointly, that number jumps to $500,000. The only catch is that you have to have lived in the property as your primary residence. If you have questions for me about this tax advantage or anything else related to real estate, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Why it's crucial to continue getting educated as a real estate agent. If you're an agent, seeking education is critical. Things are changing all the time, so it's important to stay on top of what's happening in the industry and the marketplace. If you don't stay up to date with technology and the latest changes, you'll fall behind. Here's an example: As of April 1, Fannie Mae will make changes regarding above-grade and below-grade square footage. If you have a split-level or bi-level, they will no longer count the square footage that's below grade, so be sure to let your buyers know about this change and have them get their appraisals done before April 1. That's the kind of information you need to know as an agent or investor. The appraiser can give you an adjustment for having a finished basement, but they will no longer be counting it as square footage, even if you have an egress window. “This is the kind of information you need to know as an agent or investor.” At the end of the day, you always have to be willing to change. Supply and demand will keep prices up for the foreseeable future, and I think things will adjust after a few months. If you have any questions for me about upcoming changes from Fannie Mae, how to seek education as an agent, or anything else related to real estate, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Some quick advice about protesting your property taxes this year. It's almost that time of year when property tax bills are due, but you may think your property tax bill is too high. COVID could have had an impact on your home's value, and you can protest it. You have until the end of March to file your complaint. You will need to go on the Franklin County Auditor's website to fill out an application form and provide all necessary documentation. If you need assistance with the process, I've personally filed a complaint and got my taxes reduced, and I'd love to help you do the same.  If you have any questions for me, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

The key differences between a pre-approval and a pre-qualification. You've probably heard the terms “pre-approval” and “pre-qualification” used interchangeably among real estate agents and lenders, but they're two different things. With a pre-qualification, you just need to get on the phone with a mortgage professional, provide basic financial information, and they'll give you a ballpark estimate of what you qualify for. A pre-approval, however, requires financial documentation. You'll need to provide bank statements and tax returns to fully underwrite your loan and get a precise number of what you can purchase. At that point, when you present an offer to a potential seller, they know that you're fully approved, and it will make your offer stronger.  I highly encourage all borrowers to get pre-approved to be in a better position to win a home in this competitive home-buying market. If you have any questions for me about the market or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Keep your home safe this winter by following these six tips. It's getting colder out there, so it's important to make sure your home is winterized. If you fail to do so, you could be losing a lot of heat and money in the process. Here's your home-winterization checklist: Have your plumbing checked for leaks. You can get sensors for your pipes that will alert you to issues. Weather strip your home. If you get weather stripping around your doors and thresholds, it can prevent warm air from escaping or cold air from leaking inside.   Check your windows  Make sure your attic is properly insulated. Have your furnace serviced and checked.  Get your fireplace checked by a chimney sweep. If you have any questions about what you can do right now to prevent your home from being damaged this winter, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Over the last 40 years in real estate, these are some of the biggest changes. Today we want to talk about how the real estate game has changed over the last 40 years. We've been helping people buy and sell homes for a long time, so we wanted to share some of our experiences with you.  One of the biggest things that have changed is that everything used to be analog as opposed to digital. We used typewriters and paper to keep track of everything; we even used to mail our listings into the MLS! When a client wanted to list a home, they would have to wait at least two weeks for the mail to arrive.  One of the things we included in our mail package was a single, black-and-white picture of the home. Pictures were more expensive, so we had to make sure we got things right the first time.  Buying has changed a lot too. There were no buyer-specific brokers, so if you wanted to buy a home, you would come into my office and have a conversation. From there, we would wait for a huge book filled with all the MLS listings to arrive. It usually came on Friday, so if you walked in on a Monday morning, you were going to have to wait a long time. “One of the biggest things that has changed is that everything used to be analog.” The standard commission also used to be 7%. The listing agent would get 4%, and the buyer agent would get 3%. Nowadays, people think 6% is a lot, but this just goes to show how much things have changed.  Right now, we have historically low interest rates. However, back around 1979, things climbed as high as 17%! Inflation was pretty crazy back then, and it took a long time for rates to fall back down. When interest rates finally got back into the single digits, people were lined up outside the bank and waiting to take advantage.  We have a lot of experience in this market, and it seems like many people today are worried that high inflation will lead to crazy interest rates like we saw back in 1979. In our opinion, the situation is pretty different. Rates may go up in 2022, but they certainly won't go up like they did back then.  It's still a great time to buy a home. If you want to take advantage of our 40+ years of experience, please call or email us. We are always willing to help!

Here's my biggest piece of advice if you're considering a cash offer. I'm sure that you've been getting inundated with phone calls, text messages, letters, and emails from companies who want to buy your home. There are multinational companies, iBuyers, and other investors trying to buy up properties with the promise of cash and a quick close. If you're a homeowner, I suggest that you have real estate representation if you're considering selling to one of these home-buying companies. It's important to look through the contracts with a keen eye because the language could be setting you up to fail. It's a good opportunity for you, but it's always important to read the fine print since they don't use the standard contract. If you have any questions about iBuyers, selling your home, or anything else related to real estate, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

An appraisal waiver is an alternative to needing cash for an appraisal gap. Today I'll discuss what you can do to win a bid in this ultra-competitive market. In a competitive situation, you'll often see offers with appraisal gap coverage. This means that the buyer is willing to pay the difference between the appraised price and the offer in cash. I want to tell you about another way that you can accomplish the same goal without using as much cash. Certain lenders can give you an appraisal waiver on your pre-approval letter. This makes it so you don't need an appraisal period. The difference is covered by your loan instead of needing cash. I've used this technique on multiple occasions with buyers, and it works great. If you have any questions or want more information on how to put together an appraisal waiver, feel free to give me a call at 614-267-2223. I look forward to hearing from you.

Here's an overview of our Central Ohio real estate market in October. Today I'd like to share a quick overview of our Central Ohio real estate market. We have about one month of inventory, which means if no new houses came onto the market, we'd have none for sale in about 30 days. Properties are staying on the market for an average of 11 days and are selling at 102% of their list price, so everything is selling at or above list price. This is an incredibly competitive market due to our low inventory.  The current average sale price is around $259,000, which has increased from October of last year. We're in a fairly aggressive seller's market. However, there are ways you can still buy in this market: You need to be pre-approved for a loan, ensure you have the funds for your down payment, then we need to strategize to win you the home.  If you have questions or concerns about how to buy in our market right now or any other real estate matter, I can be reached via phone or email. I would love to help you.

Here's why real estate is one of the most fulfilling careers out there. If you're looking to make a career change, I highly recommend you consider real estate for a number of reasons. You can make your own hours, and there's no limit to how much money you can make. The biggest thing you should understand about a career in real estate is that it's a sales job at its core. A lot of people get nervous when they hear the word “sales,” but it's been a blessing to me.  If you have a strong work ethic and are willing to learn, the income potential is unlimited. You can use real estate to travel, live life how you want, and make a great life. You're also helping people make one of the largest financial decisions of their lives. Since Don Jr. got licensed in 2012, he has been able to reap the benefits of the career by working hard and constantly learning. He's been able to travel to places like Indonesia, West Africa, Europe, and Jamaica, just to name a few. “If you have a strong work ethic and are willing to learn, there are no limits.” If you're ready to work hard and build a life worth living, consider a career in real estate or investing in real estate as a property owner. If you have any questions or want to know more about what a career in real estate is like, don't hesitate to reach out via phone or email. We look forward to hearing from you.

How being innovative and ahead of the curve has helped my business thrive. When the internet first opened up, I saw an opportunity and thought it was really innovative, so I got out there early and started a website. I didn't exactly know what I was doing at first, but I learned over time, and I started getting leads from it. I remember that within 60 days of getting a website, I had a lead from it. I closed that transaction, and the commission covered the cost of my website. I was fired up, and I knew that this was the way of the future, so I tried to pour everything I could into being on the internet. “You shouldn't stay comfortable with your situation.” When social media came along, I jumped on that early as well. I knew that if the internet was this helpful, then social media would be great as well. It's innovative, and it allows you to be competitive. I've always done things that were new, innovative, and a little outside the box in order to stay relevant. You shouldn't stay comfortable with your situation. To me, being comfortable is like dying. You need to be on the cutting edge and looking for the next thing. When things start to get easy and you aren't facing any challenges, you need to find a new mountain climb and regain that drive to innovate. If you have any questions, please feel free to call or email me. I'd love to hear from you and help in any way I can.

Here's why I emphasize living with passion every single day. One thing I like to emphasize in my life is living every day with passion. I've passed this lesson down to my son, and we recently discussed the impact of having passion on the field, in the office, and everywhere in your life. It's important to understand that although things won't always go your way, your passion will carry you through. “Sometimes you have to stay late and study the playbook.” I compare business to sports a lot. The goal of playing sports is to win a championship. To do that, you have to prepare and train the right way. You need to learn the fundamentals, stay healthy, and get stuff done.  The same thing goes for business. Sometimes you have to stay late and study up on the playbook. If you do that, you'll put yourself in a position to go to the next level.  It's all about showing up and putting in the work. You need to understand what you're doing, why you're doing it, and do it consistently. The client is No. 1 in this business, and it's always good to underpromise and overdeliver. That's going to give you the raving fans that will allow you to grow. If you have any questions for us, don't hesitate to reach out via phone or email. We look forward to hearing from you soon.

Here's a brief explanation of how passion made me who I am today. What convinced me to keep striving towards success? It was a ‘sink or swim' mindset. When you give yourself no other options, the only path forward is success. I didn't let myself look for an excuse or a way out, because I knew as soon as I gave up, I would regret it. The secret is that there is no secret to success other than hard work, perseverance, and a positive mindset.  Please feel free to reach out to us if you have any questions or want to talk about real estate. We look forward to hearing from you.

Here are the three things to always have on your to-do list. You need a plan in order to have success in the real estate business. If you do these things daily, you'll build up momentum, and transactions will start happening. 1. Educate yourself on your craft. 2. Make phone calls consistently. 3. Follow-up consistently. If you have any questions about this list or anything else related to real estate, please don't hesitate to reach out to me. I would love to hear from you.

We're looking to hire a couple of excellent, eager people for our team. We're looking to hire a couple of people for our team. We're growing, and we want to find the right people to work with us. We're looking for people who are coachable because we provide plenty of information and hands-on training.  We'll teach you scripts and dialogues, so we want someone eager and hungry to learn.  We're looking for people willing to work full time who have a great worth ethic. This job requires a passion for taking care of people. We're lead-generating like crazy; we get hundreds of leads every month, more than what our current team can handle. So we need some solid people who want to work with us and become part of our great team. If you or someone you know may be interested in joining our team, call or email us. We would love to speak with you.

Here's why I think owning real estate is such an important financial step. I think the most important thing you can do to secure your financial future is to own a piece of real estate. Whether it's a condo or a single-family home, prices continue to rise.  You can get a low, fixed interest rate that locks in your housing payments for a long time. Then you don't have to deal with the constant rise of rent. You'll also be gaining equity from the property you own, and we're seeing double-digit growth right now here in Ohio.  Columbus is a fantastic market in which to invest in real estate. The cost of living is lower than in a lot of other places. If you have any questions, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Rising lumber prices are driving home appreciation. Get in the market now. Today I'm talking about the real estate market and lumber prices. Lumber prices have been rising dramatically across the country. In the central Ohio area, prices are rising monthly and sometimes twice a month. I have a current client that just bought a brand-new home. That home is now worth $40,000 more than it was when they purchased it. Now is a great time to buy a home because appreciation is going to continue and you can lock in a lower rate and a lower price. We can assist you with your new home purchase. We have relationships with several builders, and we can get you in the door and get you locked in at that price. If you'd like more information, I can be reached at 614-267-2223. I look forward to hearing from you. Have a great day.

What is an arranged home sale? The central Ohio market is hotter than ever, and it’s been a challenge for both buyers and sellers. Buyers are having to compete with multiple offers in order to win a home, and sellers are trying to avoid winding up homeless as they sell their properties and look for new ones to buy themselves. One solution that we at Vision Realty offer is an arranged home sale. We’ve created a list of buyers and sellers, and we reach out to people directly to match our buyers with sellers and vice versa. That means we can find a replacement property for you, let you preview it, and if after that, you’d like to put your current home on the market, we’ll already have an arranged sale for you. If you would like more information about arranged home sales or want to be added to our list, don’t hesitate to reach out to us.

Here’s what I would do as a landlord if I started investing today. I used to be a landlord back in the day and it was a pretty good experience overall. If I had to do it over again, though, there’s one thing I would do differently: I would seek out more mentorship. I tried to do it all on my own without any help, and I made some mistakes as a result. Despite my mistakes, it was a profitable venture, and I really enjoyed it.  For any investor, it’s important to build your own in-house team to manage your properties. If you have any questions for me about being a landlord or getting involved with real estate investing, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here’s what it means when you buy or sell a home “as is where is.” In a competitive market like the one we’re in right now, many buyers end up having to buy homes “as is where is.” This means that they’re buying the home and agreeing to not ask the seller to make any repairs. A lot of times in purchase contracts, you have an opportunity to get an inspection done and request a remedy for certain repairs. When you’re competing against a ton of buyers in a hot seller’s market, however, you may have to waive the right to request a remedy. You still have the right to do the home inspection and if you find something that’s a deal-breaker, you can still walk away. However, when things are this competitive, sellers have all the power, and they want to sell their homes “as is where is.”  You won’t be able to dictate repair requests in this market, but you can still get a great home if you’re working with the right agent. If you have any questions for me about buying a home, selling a home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Today we sat down to discuss how we got into selling bank-owned property. How did I initially get into selling bank-owned properties? Back in 2001, a former agent in our office also had a home inspection business on the side. He called me one day because he did a home inspection on a bank-owned property that another agency had listed, but the property had mold in it. They didn’t want to do it, so he asked me if I was interested in taking on the assignment. I spoke with the asset manager, who was appreciative that I was willing to take it on. She asked if I could pass my name on to a couple of her friends, and that was how I got my foot in the door. Again, this was back in 2001 before selling bank-owned properties had taken off in the market.  I looked at it as an opportunity to do maybe eight to 12 extra deals a year, but I didn’t know what was about to happen until I started working with a national REO company in Denver. They had an annual meeting where they brought in agents from all over; one of their staff was an economist with a Ph.D. who told us in 2006 that a tsunami was about to come as a result of the housing crash. It did, and I’ve been helping to sell bank-owned properties ever since. If you have any questions about selling bank-owned properties or anything else to do with real estate, don’t hesitate to reach out to me. I’d love to hear from you.

Here’s how appraisal gap coverage can be a vital tool for homebuyers. I took a look at our MLS recently, and we had just 485 single-family homes and 220 condos available for purchase. In this competitive market, a lot of times there are multiple-offer situations where you’re competing against multiple buyers.  Appraisal gap coverage is important in this kind of market. Let’s say a property is listed for $100,000 and you make an offer of $115,000. A clause in the standard contract states that the property has to appraise for the contract price. In appraisal gap coverage, you agree to pay above and beyond the appraisal price if the home doesn’t appraise. “Appraisal gap coverage is important in this kind of market.” Now let’s say the appraisal comes in at $102,000. You’re now on the hook for the additional $13,000 up to the contract price. Often these are the types of offers that are winning.  If you have questions for me about buying a home, appraisal gap coverage, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here’s why I believe homeownership is such a valuable wealth-building tool. Homeownership is a great way to gain and build wealth. It also helps you with leverage. As African Americans, we need to get our piece of the pie, and homeownership is a great way to get started. Once you’ve established a home base, plenty of investment opportunities are out there.  People always need food, water, and shelter, and we are in the shelter business. As Realtors, we reach out to the community and show people how to gain shelter and gain equity from owning that shelter themselves. If you have any questions for me about homeownership or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

In this excerpt of a recent interview, I share the real meaning of persistence. When I first started out in real estate, everyone kept saying to me, “You need to get a real job,” but real estate was my dream job. Some would describe sticking with it as a part-time job for six years as “stubbornness,” but I’d call it “persistence.” If you have a dream that you’re serious about and want to live the entrepreneurial lifestyle, you will deal with some tough times. You’ll almost certainly have to push past what I call the “wilderness experience”—a feeling akin to wandering around in the wilderness alone without direction or much resources to sustain yourself. Every dreamer encounters the wilderness, but the successful ones are those who figured out how to suck it up and persevere. Their big secret: learning from their mistakes and never quitting. Real estate can be an absolute grind (trust me, I was grinding it out for years). After a while, though, I started to see the true shape of what I was building. When my passion finally produced a fruitful lifestyle, I remember saying to myself, “This is it.” “The successful ones are those who figured out how to suck it up and persevere.” My father gave me a book titled “Think and Grow Rich.” In it, there was a story about General George Washington crossing a river to fight the British during the Revolutionary War. Upon reaching the other side of the river, Washington commanded his soldiers to chop up their boats and use them as firewood. Of course, that meant that his army would have no way to retreat from the coming battle. His message was clear: Either tomorrow we win, or tomorrow we die. I meditate on that story a lot. In many ways, it describes the attitude I took toward real estate. Not stubbornness—persistence. Not fearfulness—vision. I hope you enjoyed this insight into the career I love. As always, if you have any questions or comments about a real estate topic, don’t hesitate to reach out by phone or email. We here at Vision Realty would love to hear from you and help in any way we can.

If you’re struggling to pay your mortgage, a forbearance agreement will help. What if you can’t make your mortgage payment? In the aftermath of COVID-19, many people lost their jobs, and that can put a person into a situation where they can’t pay their mortgage. If you find yourself in this situation, the good news is that there is a way you can keep your house.  The government’s stimulus plan allows forbearance agreements between you and your lender, so talk to your mortgage provider and see if you can work out a forbearance plan. My team and I wouldn’t want anyone to lose their home, so if you have questions about this topic, don’t hesitate to reach out to me. I’d be happy to help.

Here’s a quick end of 2020 market recap and current real estate update. 2020 was one of the best years for central Ohio real estate that we’ve seen in a long time. The average sale price increased by 16%, and homes were moving at a very brisk pace.  Currently, inventory is down by about 47%, which means it’s a very strong seller’s market, and multiple offers are fairly common in our area. There are still opportunities for buyers, but you’ll have to come in strong and give your highest and best offer, which should be at or above list price to win the house. For sellers, again, properties are moving quickly and prices are rising, so it’s a great time to list your home. If you have any questions or concerns or would like more information about selling and getting top dollar, please give me a call or send an email. I would love to help you.

Here’s what to consider when deciding how to put your home on the market. If you decide to put your house on the market, should you fix it up or sell it as a fixer-upper? To answer this question, consider who you’re selling the home to and where it’s located. Many times, if buyers hear the term ‘fixer-upper,’ they’ll think they’re getting a bargain. A fixer-upper can work if you’re in a premium location and inventory is low, but if you’re not, buyers may come in at a very low price. You might also attract investors who are looking to fix and flip, which also means you won’t get the maximum value from the property. If you fix up your home before listing, such as by redoing the kitchen or bathroom, you can enhance the property’s value to ensure you get as much from your sale as possible. If you have any questions or concerns about selling your home, don’t hesitate to reach out to me. I’d love to help you.

Here are five reasons why winter is the most chill time to buy a home. People commonly think spring and summer are the best times to enter the real estate market, but for buyers, winter may be the most opportune time. Here are five reasons why winter is the most “chill” time to buy a home: “Winter is the most chill time to buy a home.” 1. Less competition. When we get down to our typical 10- to 20-degree winter weather, many buyers opt to stay inside where it’s toasty and wait. So if you’re still looking now, you’ll be less likely to get into a multiple-offer situation.  2. Sellers are more motivated. Buyer traffic decreases in the winter, so a good offer is more likely to be accepted.  3. You can check out the house. The winter season is a bit tougher on houses, so you can easily see whether windows and doors are sealed tightly, how well the heating unit works, etc.  4. It’s easier to find movers. Movers aren’t as busy in the wintertime as they are during seasons with milder weather. Booking a mover now will be easier and quicker. 5. Homes close faster. Lenders are also often not as busy in the winter, so the processing and underwriting move quicker.  These reasons (and many more) are why the winter is a great time to buy a property. If you have any questions about buying or real estate in general, call or email me. I would love to help you.

Here are three reasons why it’s beneficial to sell during the wintertime. Is winter a good time to sell your home? There are a few things to consider if you’re thinking about selling during the chilliest season: 1. Inventory is low. We currently only have about 1.2 months of inventory, which means buyers are still looking but there aren’t as many houses on the market as there are in the spring and summer. This will fetch you a higher price and possibly even multiple offers. 2. Corporate relocation. Many companies and corporations are relocating and onboarding employees after the first of the year, which means these employees will be looking for housing. “Winter is an excellent time to sell your house.” 3. Move-up buyers. Statistically, many people have children in the fall. This means plenty of them are looking to buy a larger home in the winter to accommodate their growing families. So my answer is that winter is an excellent time to sell your house.  If you have any questions about selling your property in the winter or concerning real estate in general, call or email me. I would love to help you.

If you love a home that’s pending, you should put in a backup offer. Sometimes you’ll come across a home you love, only to find out it’s “pending.” A pending property means that a buyer has written an offer, the seller has accepted it, and they’re currently undergoing the due diligence period. That means they’re getting inspections and appraisals, and finalizing their financing. “I highly encourage you to put in a backup offer.” Whether you came across this house after it was pending or your first offer came in second place, I highly encourage you to put in a backup offer. If the first offer falls through, yours is right there waiting for the seller. A backup offer helps you avoid a multiple-offer situation because the seller could already have signed your offer saying that they’ll choose yours if the first one doesn’t go through. There isn’t much risk for you because if you find another property you like better in the meantime, you can simply withdraw your backup offer.  Backup offers put you in a very comfortable position. Just this week, 212 homes came back on the market after going pending, so there’s a good chance you could still have the opportunity to secure the house you love with a backup offer. If you have any questions or concerns about pending properties or real estate in general, I can be reached via phone or email. I would love to help with whatever you need.

This Thanksgiving message is one of gratitude for you and what we have. This year has been one like no other in our country. We’ve had many challenges and changes and had to make quite a few adjustments. However, we’re still standing and have a lot to be grateful for; we have a country that offers us freedom and opportunities. We’re grateful we live in the greatest country in the world; there’s no place like America.  We at Vision Realty appreciate everything you’ve done to help us succeed—we’re extremely thankful for you. This Thanksgiving, we ask everyone to be safe, follow health guidelines, and have a great time with family and loved ones. Happy Thanksgiving! If you ever have any questions about real estate, please reach out via phone or email. We would love to help you.

Here’s exactly what an FHA 203(k) loan is and what you can do with it. What is an FHA 203(k) loan? Essentially, it’s a loan that allows you to refurbish a property. You can buy a home in as-is condition and bring it up to FHA minimum standards. You can completely renovate the kitchen or bathroom, build an addition, install a new roof or windows, and even get new appliances. This loan fills a significant need for homebuyers. “This loan allows you to refurbish a property.” Another perk of this loan is that you can build in your payments. For example, if you have a contractor doing work 30 to 90 days after closing because it isn’t move-in ready, you can adjust payments so they aren’t due until after you move into the house. This is a fantastic program for taking run-down properties and improving them to suit your needs. You can customize things the way you want: countertops, appliances, colors, carpeting, wood floors, and more. If you would like more information about the FHA 203(k) loan or have any questions, I can be reached via phone or email. I would love to help you.

If your property isn’t valued properly on the triennial update, you can contest it. The triennial update is a three-year update of property valuations. The Franklin County auditor is required to do a six-year update, as well as one at the midway point (every three years). You’ll get a notice in the mail, or you can go to the Franklin County auditor’s website to find the update. It will show you what they feel is the new valuation on your product. If you don’t feel that the valuation you find on your triennial update is where your property value actually is, then you can contest the valuation. “Contesting your valuation will have an impact on your property taxes which will be reflected in your mortgage statement (if applicable).” To contest it, you’ll need to provide the auditor with comparable sales that demonstrate what the value should be. With social distancing at the forefront of most people’s minds, you can try to meet with the auditor remotely, like over a Zoom call, if meeting in person isn’t an option. Contesting your valuation will have an impact on your property taxes which will be reflected in your mortgage statement (if applicable). If you need assistance with putting those comparable sales together to contest your valuation, I can help. I’ve successfully done it before myself, and I ended up having my own property taxes reduced. Don’t hesitate to reach out to me with any questions you may have.

Here’s how a low-limit credit card can help you improve your credit score. If you have bad credit, oftentimes your lender will tell you that you need to reestablish new credit with a low-limit card. It could be a card with a limit of just a few hundred dollars. By keeping your balance at around 30% or less and making regular payments, you can slowly increase your credit score over time and move up the ladder. A higher credit score will help you secure the home you want at a great rate. Low-limit cards have helped a lot of our clients re-establish their credit and get their financial health back up to par to qualify for a home loan. If you have any questions about how this process works, don’t hesitate to reach out to me via phone or email today. I look forward to hearing from you soon.

These two types of insurance will protect you greatly when buying a home. Having insurance means if something costly happens, you won’t have to pay the entire amount to fix the issue. These are the two most vital types of insurance you need to have when buying a home: 1. Title insurance. This secures your interest in the property. A title company is a third-party company that will take a look at the home and make sure there are no liens, back taxes, judgments, or anything else. Title insurance is crucial when you buy a home; they’ll ensure you’re getting a clear and clean title when you purchase.  2. Homeowners insurance. This ensures your property is protected both inside and out. There are different types of homeowners insurance, such as flood or earthquake coverage if your house is in an area susceptible to those phenomena. I often recommend that my clients get basement water backup coverage; the sump pump may go out, and then water will start filling the basement. In this situation, having extra insurance is invaluable.  If you have questions about insurance or anything concerning real estate, call or email me. I would be glad to help you.

Here’s why you should get a home inspection done when buying a house. Should you order a home inspection?  I would highly recommend a home inspection to anyone who’s buying a house. It’s one of the biggest purchases you’ll make in your life, so it’s imperative to know the exact condition of the property. It may look great, but there could be significant issues you can’t see. “This is not a step to ever skip.” It’s always best to have a third party do a thorough walk-through and look at the roof, furnace, mechanicals, windows, foundation, plumbing, etc. The inspector will give you a detailed written report about the home’s condition.  If you have any questions about home inspections or real estate in general, I can be reached via phone or email. I would love to speak with you about whatever you need.

Here’s why most home purchases take 45 to 60 days to complete. The length of time it takes to buy a home depends on many factors, including your credit, but the average time from signing a contract to closing on the purchase is around 45 to 60 days. I’ll break it down for you. There will be a home search, an offer that’s made and accepted, and then the moment when the home goes under contract. Once that’s done, the clock starts.  It begins with a 10-day due diligence period where we’ll inspect the homes and find if there are any issues. From there, we will negotiate those issues either through repairs or a financial concession. “The average time from signing a contract to closing on the purchase is around 45 to 60 days.” Once that’s worked out, we will move on to the appraisal, which can take two to three weeks depending on how busy appraisers are. During that time, the lender will continue their due diligence in respect to collecting all your financial documents.  After the appraisal is done, it gets fully underwritten, and we go to the title company to close. In normal situations, this whole process will take around 45 days, but it could take up to 60. Every situation is different, so if you have any questions about buying a home in today’s market, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Here’s why a lender’s credit pull may be different than when you check it. I hear this question often: Why is there a difference in my credit score when my lender pulls and when I check it online myself?  The main reason is that credit bureaus have different scoring models. Different models may be used for a car loan versus a mortgage loan, for example. A lender will have a more detailed credit pull than what you can find online.  Many times people think their lender is trying to pull one over on them, but believe me, they’re not. A lender doesn’t get paid until you get approved and close on a loan, so they’re highly motivated to get you to a higher credit score to buy the home of your dreams. “A lender will have a more detailed credit pull than what you can find online.” If you’re considering buying a house, I greatly encourage you to speak with your mortgage professional and have them pull your credit score, then use that number going forward. Don’t do it on your own because it may be inaccurate. You want to be armed with the right information before entering the real estate market. If you have any questions or concerns about credit pulls or real estate in general, I can be reached by phone or email. I would love to speak with you.

The first step in dealing with emotions as a home seller? Normalize them. When you put the house you’ve lived in for a long time on the market and get the number you wanted for it, you feel excited—that’s a good thing. However, as the process progresses, you may begin to experience a whole gamut of other emotions, ranging from remorse to nostalgia to downright nervousness.  I’m here to tell you that’s completely normal; you’re about to make a big change and transition into another property, whether as part of a downsize or a much-needed upgrade. As a real estate professional, it’s our job to guide you through this process and reassure you that emotions are to be expected when moving on from a home.  I can personally testify that when I moved, I didn’t think that I’d get hit by some of these stronger feelings, but I did. I got a little anxious, but when I reached the closing table, everything was fine. If you work with a trusted Realtor, the same will be true for you, too. “Emotions are to be expected when moving on from a home.” At Vision Realty, we understand that selling a home isn’t just about dollar signs; we approach real estate from a human perspective. If you have questions about this or any other real estate-related topic, don’t hesitate to reach out by phone or email. We look forward to hearing from you.

Here’s how to survive in our highly competitive market as a buyer. It’s still a fast-paced seller’s market out there, so buyers need every bit of leverage they can get. Here are five powerful negotiating tricks to remember when you’re in a multiple-offer scenario and are serious about coming out on top:  1. Write a clean contract. Cross your t’s, dot your i’s, and be sure to include a lender letter and/or proof of funds. Have everything concerning the price and terms clearly spelled out and neatly presented. “Real estate transactions are as sentimental as they are financial.” 2. Offer to pay part of the title insurance. I’ve seen this relatively small financial commitment help buyers win out in a particularly competitive situation.  3. Exclude home warranties. While certainly nice to have, home warranties can sometimes be excluded from the contract to present the seller with an extra incentive for choosing your offer.  4. Write a letter to the seller. Real estate transactions are as sentimental as they are financial; take the time to explain to the seller who you are and why their home—which they loved and treated with care—is a perfect fit for you and your family’s needs.  5. Fix small-ticket items. When it comes to home inspections, it’s always a good idea to negotiate any issues found with costly big-ticket items. However, don’t sweat the small stuff; if you truly want the home, communicate to the seller that you’re more than willing to roll up your sleeves and address the smaller, more manageable issues yourself.  If you have any questions about negotiating or real estate in general, please reach out via phone or email. I would love to help you.

This is each step in the home selling process so you know what to expect. Today I’m explaining each step in the home selling process so you know what to expect when it comes time to sell your house.  The first thing we do with sellers is have a consultation. We’ll put together a comparative market analysis to find the property’s value. Second, we write a listing agreement, which is a contract that allows us to sell your home. Next, we have professional photos and video taken of your house, and post the listing to our website and most other real estate sites such as Zillow, Trulia, etc. “Once we obtain an offer, we’ll ensure it meets your financial needs.” Then we’ll discuss how to prepare your home for sale, making sure you have everything in order and staged properly so you can get top dollar. After that, we’ll conduct showings and likely receive an offer. Once we obtain an offer, we’ll ensure it meets your financial needs. Next comes the home inspection, and we’ll negotiate any requests that come up.  After that, the buyer must get approved, and the contract goes to the underwriters, then to the title company. The title company makes sure there are no liens, incumbents, or anything out of the ordinary. Lastly, the closing process begins. When we officially close, you have finally sold your home. If you would like a market analysis done on your property, just visit our website. We would be glad to speak with you about it as well. If you have questions about the selling process or real estate in general, we can be reached via phone or email. We would love to help you.

Don’t fret: Here’s what to do if your offer on a home was rejected. Sometimes when you make an offer on a home, the seller won’t give you a counteroffer, your offer will be rejected instead. There are a few reasons why this may have happened, but in most cases, the offer was likely too low. In the market we’re in now, and houses are selling at 98% or higher of their list prices.  In this situation, you’ll need to increase your offer closer to the list price, and I recommend making a clean offer, meaning you reduce closing costs and shorten inspection periods. These things will give you a higher chance of having your next offer accepted.  If you have any questions about how to write a great offer or real estate in general, please call or email me. I would love to help you.

Your credit report will contain three different credit scores. Here’s the reason why. You’ve probably heard of the three major credit reporting agencies: Equifax, Transunion, and Experian. They each report credit scores on your credit report, but you may have a different score with each company. Why does this happen? Each company has a different matrix that they use to determine a score. With respect to these companies, the creditor that is reporting often doesn’t report to all three, so they might not all have the same information. “You may have a different score with each company.” A particular mortgage or auto loan company may only report to Experian or Equifax. Consequently, that will have an effect on your score when you pull it yourself. We like to look at the middle number to get the score that’s used for your credit application. If you have any questions or concerns about this topic or anything else related to real estate, don’t hesitate to reach out via phone or email today.

What are the title company’s responsibilities during a real estate transaction? Find out here. In a real estate transaction, the title company takes the contract for your transaction and does a title search to make sure there are no liens, back taxes, or anything else that can encumber your transaction. Once they do, they’ll issue you a title commitment and send a copy to your lender and agent. The title company also handles the monies at the time of closing, including wire transfers and down payment funds. They act as a fiduciary between buyer and seller, paying off taxes, commissions, and mortgages on their behalf, as well as making sure that any liens are satisfied so that the transaction can go smoothly for all parties involved. If you have any questions about title or real estate in general, don’t hesitate to reach out to me. I’d be happy to hear from you.

Ever wonder what the home buying process is like? Here’s a general outline of what you’ll experience.     When you purchase a home, there’s a general timeline you’ll typically be following.  With Vision Realty, you’d sit down for an initial consultation where we’d analyze your needs, find out what you’re looking for, and establish a working relationship. Next, we’ll sit you down with a lender and get you a pre-approval for a mortgage loan. After this is completed, we’ll email you homes to preview and schedule showings for the properties you choose. When you pick the home you want to buy, we’ll get the property under contract and start the inspection process. “We analyze your needs, find out what you’re looking for, and establish a working relationship.” A professional home inspector will look through your home and make you aware of repairs that must be made. We’ll negotiate repairs with the seller to make sure the items are repaired or replaced. After negotiations, the lender will go through the mortgage underwriting process and have the property appraised. Once it’s underwritten, the loan will be approved and we’ll be ready to close on the house. The title company will make sure liens and mortgages are paid off by the sale’s proceeds. Finally, you get the keys to your new home! If you have any questions or would like more information, feel free to reach out to us. We look forward to hearing from you soon.