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Your San Antonio Listing Expired. Now What?



If you had your home listed on the market and the listing expires, what do you do?

You really have three options; a third will re-list right away, a third will re-list in a few months, and the last group will give up and decide not to sell. Some of these people will hire the same agent they've used in the past when their listing expired, and some will find a new agent. Regardless of your situation, it's important to know that your home will fall into one of those three categories.
Expired listings almost always fall into one of three categories.
We always recommend that home sellers interview two or three different agents before making another decision. This will help them realize what went wrong in the first place. If you give an agent six months to sell your property and they can't sell it, you're probably going to get the same results if you hire them again.

Then again, it could indicate that you either aren't priced right or your house needs some updates to make it more marketable. You want to choose an agent based on their strategy, marketing plan, and confidence level.

If you're thinking of buying or selling a home, or you've tried to sell and your listing expired, feel free to give us a call for a free consultation. We'd love to help you.

What to Consider When Shifting from Renting to Buying



If you’re currently renting a property and thinking about making the shift toward owning a home, there are a few things you should consider.

When you’re looking to get out of your lease and take advantage of the market, it’s best to start early. Talk to a lender and get that pre-approval process started as soon as possible. You want to find out exactly what your budget is going to be so that you know what you’ll be able to afford and what you will be comfortable spending. The key in any transaction is knowing your buying power.
If your lease is up in 30 days, you certainly can buy a property, but that is going to be a very challenging transaction on short notice, unless you’re paying cash. Get pre-approved early so that if you have any problems with your credit, you can get them fixed before you buy.

You may also need more time to save for a down payment. It’s best to start looking for homes at least 90 days prior to the end of your lease in order to allow yourself time to find and close on a home. Remember, a lot of things can come up during the buying process. Inventory in San Antonio is very low right now, so finding that perfect place may take longer than expected. Starting everything ahead of time will never hurt your transaction; it can only help.

Starting ahead of time can only help your transaction.

You may be wondering when you should talk to your landlord about your decision to end your lease. Some landlords may allow you to break your lease early, while others may not be so generous. With rental rates increasing in the San Antonio market, it’s okay to move out – especially if you’ve been in the area a long time. We recommend talking with your landlord and checking your lease terms early. You’ll want to determine whether there is an early termination fee or if you’ll have to give notice within a certain timeframe. An open conversation with your landlord will really help the transaction go smoothly.

Finally, it’s never too early to talk to an agent about what the home buying process looks like. Your agent will help you figure out what your upfront costs, like your down payment, inspection and appraisal costs, are going to be. You should also discuss your timeframe. If you’re making this decision with someone else, it is important to have this discussion early on so that everybody involved in the transaction is on the same page.

If you have any questions regarding this or anything else, please give us a call or send us an email. We’d love to help you out!

Why You Should Make a Home Needs List Today



Today I’d like to discuss the difference between buying what you need and buying what you want in a home.

The easiest way to determine your home needs is to take a quick assessment of the space you’re already living in. This will help you realize what you’ve been missing, and what you may need in your next home. Make a list of your needs and ask your agent to begin shopping based on those needs.

Today we’re living in our homes for longer than we used to.

On average, Americans live in a house for about nine years. Interestingly, that number has increased by three years from just a decade ago when the average time was six years. This means that we’re staying in our homes for just a bit longer than we used to.

Remember, you can always trade up a few times before you find the ultimate home, but you don’t want to end up “house poor” either. Be sure that you don’t overextend yourself.

If you’re thinking of buying or selling a home, call or email us today for a free real estate consultation. We’d be happy to help you.


Should You Work with a Real Estate Team or Individual Agent?




If you are planning on buying or selling a home, should you work with a solo agent or a real estate team?

Working with a team is very important because it gives you the best shot at reaching your real estate goals. If you’re a buyer, a buyer’s agent with a team behind them has the time and energy to focus on finding your perfect home. Every morning, our buyer’s agent scours the MLS for properties that match your preferences and sets appointments on your behalf.

Individual agents will be busy taking listings and doing paperwork for other clients. As a result, they will not be as attentive to the MLS and might miss your perfect home. Sometimes solo agents can get so overwhelmed that you will be lucky to find anything you like on the MLS.

Real estate teams are made up of specialists to guide you through the transaction.

When you’re selling, work with a listing agent who has a team behind them. These listing agents are able to work solely on your behalf. They won’t be distracted by representing buyers and finishing tedious paperwork like an individual agent would be.

Teams are also made up of specialists who work to ensure that each part of the transaction is handled well and in a timely matter. For instance, our team has a marketing specialist whose only job is to maximize your listing’s online presence and get your home in front of as many buyers as possible. Our team also has a dedicated transaction coordinator to handle all of that tedious paperwork.

There is a lot to the home selling and buying process. Many new individual agents get buried in paperwork and other behind-the-scenes tasks, which makes them unable to fully service their clients. Today’s market is awfully complex, which makes it all the more crucial that you hire a specialized team to handle your real estate needs.

If you have any questions, give us a call or send us an email. My team and I would be happy to help you!

Why You Should Be Setting a Realistic Budget Now



Today I’d like to talk to you about setting a realistic budget.

Just because the bank pre-qualifies you for a certain amount of money doesn’t mean that you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of your expenses. Calculate a number that you are comfortable with spending on your mortgage payment, and work from there.

A quick and easy way to do this is to make sure that you are not spending more than one-third of your gross income on your house. If you spend more than this amount on the house, you risk becoming “house poor,” meaning that you barely have enough money to pay for your house and not enough for much else.

Don’t spend more than one-third of your gross income on your house.

It’s also a good idea to keep six to nine months of mortgage payments in the bank, plus a little extra for any repairs that you might need to make. Most Americans don’t even have one month’s payment in savings, so if you’re able to do this, you’ll be in very exclusive company.
 
If you’re thinking of buying or selling a home, call or email us today for a free real estate consultation. We’d be happy to help you.

Don’t Forget About Extra Ending Costs


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Buying a home is not just about the money that you spend up front. It’s also about the rest of the money that you have to spend beyond that.

One of the biggest expenses that you’ll have to incur on a monthly basis is your property taxes. You’ll want to find out, then, what your monthly property tax rate will be before you purchase the home. Additionally, it’s also a good idea to ask the seller before you purchase for copies of their utility bills from the previous 12 months so that you know what they will cost, you and you can budget accordingly. 



We always recommend that you get a home warranty.


Another thing that might factor into extra ending costs is if there is a homeowners association fee. Whether it’s monthly, quarterly, semiannually, or annually, you’re going to want to know what that will cost as well.

If you’re going to furnish the property, you need to make sure you have a budget for that. Finally, if you’re buying a home that’s a little bit older, you need to budget for more than the normal amount of upkeep. This is why we always recommend that you get a home warranty on a home when you purchase it.

If you’re thinking about buying or selling a home, call or email us today for a free real estate consultation. Have a great day.

Do You Have a Home Maintenance Strategy in San Antonio?


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Want to buy a San Antonio Home? Search all homes for sale


Proactive home maintenance is important whether you’re selling your home or not. Your home is probably your largest financial investment, so keeping it well maintained is important.

One thing you should be doing is setting aside some money at the beginning of every year to pay for home repairs. It’s inevitable that you’ll have to spend money fixing your home, but preparing beforehand can make it seem like less of a financial burden.

Another thing you have to do is be proactive with repairs. Instead of waiting until the problem cannot be ignored, handle it right away. This will save you both time and money down the road. Do regular inspections and create a maintenance schedule. If this seems too daunting, focus on one room in your home for a certain period of time.



BUYERS CAN TELL WHEN A HOME HAS BEEN TAKEN CARE OF.


Keeping track of your improvements is also important. You have to know what you have and have not already fixed. This is why focusing on a specific room can be helpful when you’re overhauling your whole house.

Buyers can tell when a home has or has not been taken care of. You can either wait until your home needs a ton of work all at once, or you can nip problems in the bud and continue enjoying your spare time. The decision is up to you, but I would recommend the latter.

Contact me if you need to find any good contractors in the area. We can help you out!