Tyler Real Estate Podcast with Danny and Rebecca Burks

Today we want to talk about some of the benefits of using the Burks Team over your traditional real estate brokerage. To start with, while about 90% of the agents in this industry are part-time, we are all full-time agents. In our market, the average agent sells less than 10 homes a year, whereas the agents on our team sell over 40 by working every day. These sales give us current market experience that’s crucial to understanding the ever-changing market. Another benefit of using the Burks Team is that all of our agents do weekly training. On Tuesday, Wednesday, and Thursday mornings we have one-hour training classes to learn new negotiating skills and learn more about contracts and any new laws that come out. This puts us at the forefront of real estate knowledge compared to other offices that don’t have required training, and it allows us to do a better job for our clients. At the Burks Team, we also specialize. We have buyer specialists who only work with buyers to help them find a new home. Meanwhile, you can work with one of our listing agents if you need to sell your home. They will look at market values and what your home may be worth in order to get you a better price. We also have a full-time marketing coordinator, a professional photographer, and three closing coordinators to help us complete your transaction smoothly. We guarantee that you are going to love your home, but if for some reason you don’t, you can call us back within 365 days and we will relist it for free if you buy another home of equal or greater value. We will eat both sides of the commission to get you out of that home and into a home that you love. “We offer expert representation to make sure the process of buying and selling your home goes smoothly.” Our clients Jim and Kelly Newberg recently took advantage of this opportunity when they moved back into the city after spending some time in the country. You can hear their testimony about saving thousands of dollars with this guarantee at 4:15 in the video above. Another guarantee we offer is our “Guaranteed Sold or We’ll Buy It” guarantee. If you are looking to list your property with our team, we guarantee to sell your home for the price and deadline we agree to. If for some reason it doesn’t sell, we buy it ourselves. For more details about this, give us a call at our office and we can set up an appointment. When you buy or sell with us, we consider you a client and friend for life. With this friendship comes perks such as using our 16-foot box moving van or pickup truck for a 24-hour period anytime you need it as long as it isn’t booked by somebody else. You have access to our notaries on staff and we can even help you with copies and faxes as well. All you have to do is come by and we would be happy to help. As one of our current and/or former clients, you’d also be invited to several client events we throw throughout the year, such as breakfast with Santa where you can bring your kids for pictures with the real Santa Claus or a special viewing of a children’s movie where we rent out the entire theater for everyone to enjoy. The key is that we don’t sell homes. We offer expert representation to make sure the process of buying and selling your home goes smoothly. If you would like to know even more about our expert representation, or if you are ready to buy or sell with us, please feel free to contact us. We look forward to speaking with you soon.

You may remember the fixer-upper home we showed you just a few months back. Well, today, we’re back to show you an updated look at this property. Click here to take a 3-D tour of the house. We ran into a few unexpected hurdles along the way while fixing up this home, but a few months and $135,000 in renovation costs later, the property is virtually unrecognizable.  We did end up exceeding our original budget, but that’s simply the reality of home flipping. Sometimes you’ve got to spend more than you expected to get the results you want. You never know what issues might pop up as you begin work on fixing up the home. “We’re very proud of the job we’ve done, even if we made less money than anticipated.” For this house, the big-ticket item we had to fix was the roof. We thought it was in good shape, but it turns out we were wrong. We also had to reinforce some structural features of the home.  After being completely renovated, this 4-bed, 3-bath home, which is about 2,300 square feet,  was put back on the market for $259,000 and is set to close in the next couple of weeks. We’re very proud of the job we’ve done, even if we made less money than anticipated.  Something everyone who’s interested in this business should realize is that this will sometimes be the case. You will sometimes net a lower profit than expected.  If you have any other questions, would like more information, or are interested in learning more about flipping, feel free to give us a call or send us an email.

When you flip a home, you need to make sure that the investment will turn a profit. Today, I’ll show you what that looks like. Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale Today, I’m out at one of our flip properties that we’ve just started. A question that a lot of investors or would-be investors ask is, “Should I buy a property and hold it, or should I consider flipping it?” There is a difference between buying and holding a property and flipping it. When you’re flipping a property, you have to make sure that you have enough room to be able to make a profit somewhere in the neighborhood of 30% to 40% after you’ve factored in the cost of fixing it up. Otherwise, it’s probably not a wise decision to buy and flip a property. For flipping, you want to look for the worst house in a great neighborhood, and I don’t think it can get any worse than the house we’re flipping today. We’ve already filled a dumpster once and it’s just about full again. This will be a complete down-to-the-studs renovation. As I said, there needs to be room for value when it comes to buying a property to flip. When it’s all said and done, you’ll need to be able to make a profit after closing costs and other expenses. This home that we’re flipping is very distressed now, but because it’s in a good neighborhood in a great school district, there is a high chance of a good return on the investment. “FOR FLIPPING, YOU WANT TO LOOK FOR THE WORST HOUSE IN A GREAT NEIGHBORHOOD.” Follow along in the video above for a look at what we’re doing inside of the home and to see what I mean by going down to the studs. We have knocked out the entire first floor of the home. Built in the 1970s, it will now become an open-concept home with an open kitchen, an island, a dining area, and more. It will be a complete transformation. As a 2,300 square foot, 3-bedroom, 3-full bath home with a 2-car garage, it will probably sell for around $240,000 once it’s finished. In a couple months, we’ll revisit the property to show you what it looks like after we’ve made quite a bit of headway in its renovation and to give you an idea about the costs involved. We do also look for homes where the flipping process won’t be as dramatic. It might involve taking down some wallpaper, changing out some fixtures, painting, and putting in new flooring. If you have any questions about flipping, if you’d like to see how much your home is worth, or if you’re thinking about investing, feel free to give me a call. You can also visit my website for a free valuation of your house. I look forward to hearing from you soon.

Thank you to all of our friends, family, and clients for making 2017 so successful for us here on The Burks Team. On behalf of all of us, we hope you and your loved ones have a very happy holiday season and a wonderful new year. To get in the spirit of the season, we thought we would share some of our favorite holiday songs with you all today. To hear for yourself, watch this short video. We wish you a merry Christmas and a happy new year!

We have a few tips and tricks to share with you that will make your move simple and stress-free. Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale If you’ve just bought or sold a house, congratulations! Now, of course, comes the moving part. Here are some of our best tips to make the moving process as smooth as possible for you. The first thing you need to do is prepare early. As soon as you’re under contract, you need to start talking to movers. The Burks Team lends out our own moving truck to our clients for free on a first-come, first-serve basis, so feel free to call us as soon as you get that offer. Next, start a schedule and plan a to-do list. When are you going to clear everything out of the attic? When are you going to box-up everything in the garage? Look at your cabinets, closets, and everything else and make a plan for when your family will get together and start packing. Speaking of packing, be sure to use labels on your boxes. Label all four sides and indicate on the labels what’s inside the box. Use different-colored markers or labels for different rooms. Cut a piece of painter’s tape and attach it to the door of each room in your new house so movers know which boxes go where. If it’s a long-distance move, you might want to number your boxes because you won’t be there to supervise and check that all of them make it safely to their new destination. “MAKE A SCHEDULE AND PLAN A TO-DO LIST BEFORE YOU DO ANYTHING.” For any breakable items like dinner plates, use styrofoam, dish cloths, or towels to wrap them and keep them secure in their boxes. When taking down picture frames off the wall, use some more painter’s tape to tape over the hanging hooks so when you’re ready to rehang them, you already have the right-size hook and nail. It’s also a good idea to have an “open-first” box, which is the last box to leave your old house and the first box to get unpacked at the new one. Items included in this box should be tools, toiletries, and other essentials. Next, eat your food! This way, you don’t have to pack all your freezer or pantry items. Whenever my family moved, my kids and I would have a “food night’ before moving day, when we’d empty out our freezer and cook everything. Additionally, write down the addresses of everything you’re getting in the mail so you can notify everyone of your new address. Lastly, move your kitchen, bathroom, and closet items before you move the furniture. That way, when you move your furniture, you can find your clothes, toiletries, and you can get something to eat or drink if you want. If you’d like more moving tips or you’re thinking of buying or selling a house soon, don’t hesitate to reach out to us. We’d love to help.

A lot of people were hit hard by the real estate market crash last decade. Now, those same people can reap the rewards of the market’s recovery. Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale Just a few years ago here in Tyler, we hit a pretty severe downturn in the housing market (and the economy as a whole). As a result, there were a lot of people from 2009-2012 who owed more on their homes than they were worth. That’s changed a lot in the last few years, however, as we’ve seen a dramatic increase in pricing. This is especially true for homes in the $250,000 and below range. When we spoke to homeowners during the market downturn, we had to start putting Kleenex out because so many of them ended up shedding tears over the loss of value in their home because of the crash. “60% OF AMERICAN HOMEOWNERS HAVE SIGNIFICANT EQUITY.” We might have to start putting Kleenex out for those same people, though, because if they come in today and find out what their home is worth in this market, they’re likely to cry tears of joy. A recent study showed that 60% of Americans have dramatic equity in their home of at least 20%. Texas has been one of the leading states in the recovery, with home values increasing by 8% on average in the past year alone. If you’re considering selling your home, we currently have a shortage of inventory that you could take advantage of to sell for top dollar. If you have any questions for us or you want us to do a complimentary analysis of the equity you have in your home, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

What’s the biggest obstacle to homeownership? Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale According to a recent survey, “saving enough for a down payment” comes at the top of the list. A whopping 55% of prospective homebuyers cited this as their main stumbling block. And with the continuing growth of home prices, things aren’t getting any easier. In fact, homeownership rates reached a 20-year low last November. It wasn’t always like this. A decade ago, many lenders were offering easy, no-money-down mortgages. However, after the financial crisis, mortgage standards have become more restrictive. A typical mortgage now requires a 20% down payment. Here’s the good news. If you have decent credit and a steady income, you might be qualified for a number of specialized programs that require no or very little down payment. Here are a few of the top options. First, there’s the USDA loan, which is valid for homes in certain regions, such as rural and suburban areas. “55% CITED THE LACK OF A DOWN PAYMENT AS THEIR MAIN STUMBLING BLOCK.” With zero money down and lenient credit requirements, the USDA loan can be a great choice for many homeowners. Second, there’s the VA loan, which you can apply for if you or your spouse served in a branch of the military. It’s possibly the most generous zero-money-down mortgage because of low interest rates and low closing costs. Third, there’s the FHA loan. It does require a 3.5% down payment — still drastically more achievable than the 20% required for a conventional mortgage. Finally, there are a number credit unions and first-time homebuyer programs that might apply to your particular situation. There’s one important thing you should know. If you get one of these no-money-down mortgages, chances are good you will be required to pay private mortgage insurance, which can drive up your monthly payments. Fortunately, private mortgage insurance will disappear after your mortgage balance is under 80%. Also, the money you do pay will be tax deductible in most cases. In short, there are lots of options to make owning a home a reality for you, even if you haven’t saved up tens of thousands of dollars. And if you need more advice on getting a no-money-down loan, give us a call. We can put you in touch with some experienced Tyler area lenders who can answer your questions and help get you started.

Buying your first home can be an incredibly exciting time. However, it requires a huge commitment and a sizable investment. Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale I want to share my three top tips to help first-time homebuyers protect themselves during this crucial period: 1. Know what you can afford Your mortgage is only a part of what you will need to pay when you buy a home. Homeownership comes with plenty of other expenses, including closing costs, taxes, property insurance, maintenance costs, and homeowner association fees. Once you have a clear idea of how much all of these items will cost, you can compare it to your current monthly expenses. Then you can figure out the kind of home you can honestly afford without getting carried away and without getting bogged down in debt. 2. Choose your lender wisely Choosing a lender is not something you should base only on the lowest rate. A competent and trustworthy lender will offer you advice on how to improve your credit and also help you take advantage of special homebuyer programs that might benefit you. But how do you find the right lender specifically for you? It’s often best to get recommendations from friends who have already worked with a lender or from a real estate agent you trust. “AN INSPECTION WILL COST ABOUT $300, BUT IT CAN SAVE YOU THOUSANDS.” 3. Don’t overlook the details There are many details that go into buying a home, and missing any of them can be a costly mistake. I always advise buyers to get a professional inspection done on their home, separate from the appraisal. An inspection will set you back about $300, but it can save you thousands of dollars down the line, and it can even prevent you from making a decision to buy a home that you would later regret. A second example is understanding the fine print in the various contracts you will be signing. If there’s anything that isn’t clear to you, talk to your real estate agent and have it spelled out. The process of buying a home can be intimidating, and that’s why professional real estate agents are there to help. These three quick tips are only the start of the things you need to watch out for when buying your first home. If you need more advice or you are ready to start looking for a home, give me a call or send me an email. I love working with first-time homebuyers, and I can help you get your perfect new home with minimum hassle.

If you have a pet and you’re looking to sell your home, then read on for some helpful advice. Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale The good news is, many homebuyers are looking for a pet-friendly home. Two out of three of us have a pet, and 61% of pet owners say they have trouble finding a home that is a good match for their pet. In fact, a recent survey estimates that 31% of animal owners frequently don’t put in an offer because a home would not suit their pet. This means that if your home is a good match for a pet, it will be attractive to a large pool of dedicated animal owners. On the other hand, 67% of Realtors also estimate that actually having a pet in your home can make it harder for you to sell. So what can you do? Here are three things we typically recommend: 1. Repair any damage Floors, walls, doors, the yard — these are some typical areas that pets love to chew, scratch, and dig up. Repairing this damage is an investment that will pay for itself many times over in terms of a higher selling price. 2. Get a professional to remove pet odors Many pet owners are less sensitive to odors in their home than prospective buyers will be. That’s why you should hire a professional cleaning crew to clean any carpets, rugs, or upholstery that have absorbed pet odors. “PET OWNERS ARE LESS SENSITIVE TO ODORS IN THEIR HOME THAN PROSPECTIVE BUYERS ARE.” Once you’re done with the cleaning, ask a friend or your Realtor for a sniff assessment to make sure the job is really complete. 3. Take your pet out during showings Some people are afraid of animals. Others are allergic. And regardless of the time, money, and effort you’ve put in to clean and repair your home, many buyers will be prejudiced by knowing that a pet currently lives there. That’s why we recommend taking your pet out during showings and also removing any pet objects such as toys, food bowls, or scratching posts. By following these three simple guidelines, you will be able to sell your home for top dollar, whether the buyer is a pet owner or not. And in case you have any questions or concerns about preparing your home for a sale, give us a call. I’m here to help.