Charles Burt Realtors Blog

Tips for purchasing a short sale home:

  1. A short sale is different from a foreclosure
  2. Foreclosure is when the seller's lender has taken title of the home and is selling it directly
  3. During a short sale, the homeowner is trying to sell the home in order to avoid foreclosure
  4. The lender has to agree to allow the owner to attempt a short sale
  5. The lender will be taking a loss on the loan
  6. Even though the seller will sign on the accepted sales contract, it must still be approved by the lender.

Are you a patient buyer?  Often it takes anywhere from 2 to 4 months to complete a short sale!

Be sure you completely understand the short sale process before making an offer on the property

Posted by on March 23rd, 2016 10:12 AM
Basic House Rules

.  Your home should reflect warmth, welcoming and inviting to potential buyers

2).  When clients are looking at your home; temperature is best set between 68 degrees         and 72 degrees  (you do not want your home either to cold or to hot!)

2).  Neutralize any offensive odors

3).  Have soft music playing
Posted by on March 10th, 2016 2:47 PM
Prior to winter's arrival, we always prepare our vehicles for winter, check and maintain our home heating system, and so on. How often do you consider winter maintenance for your deciduous and evergreen trees and shrubs, though? If there has not been any precipitation for 4 to 6 weeks and the ground is not frozen or snowy, water your deciduous and evergreen trees and shrubs.

A good rule of thumb: If the temperature is above 40 degrees, you can water.  It is recommended when watering to do so early in the day before the temperature starts to drop as it normally does later in the day. In winter, extreme dry conditions can be more damaging than the extreme cold.
Posted by on February 10th, 2016 11:49 AM
If you are not experienced in purchasing a home, here are some tips for you:
  • Before you start your search, decide what features you must have in your home
  • Make sure you know what you want before starting your home search
  • Decide whether it is best to rent or buy (On our website are several helpful mortgage calculators)
  • When searching for your home, always look at the potential for resale
  • Have all necessary personal financial information gathered and ready to take to a lender
  • Get pre-qualified/pre-approved for a home mortgage loan
  • Be sure to stay within your budget
  • Educate yourself on the current market conditions
  • Make sure you have representation during the home buying process; get a Buyer's agency with a Realtor. Work with a Realtor that will represent and guide you through the complete process.
Posted by on January 27th, 2016 11:57 AM
Just yesterday a customer stated, "I want to list my home, but want to wait until peak market activity!"  As a professional Realtor I can tell you that it is true certain times of the year have more home selling activity, BUT (and it is a big but) homes sell all year long! If your home is not on the market, potential buyers will not know it is for sale.

If you are serious about selling, get your home listed.  When listing a home here are a few important tips:
  1. Price it right from the start
  2. Your home's curb appeal is vital
  3. Update the interior and exterior
  4. Make sure your home is clean, depersonalized and de-cluttered
  5. Make your home easy to show
  6. Be sure your listing is on all the major online real estate portals
  7. Be sure your listing has good photos and lots of them
  8. Stage your home
Posted by on January 14th, 2016 2:29 PM
     When your home appreciates in value, two good things happen! One; if you need to borrow against your home you have equity to borrow against. Two; when your home appreciates in value you realize a bigger profit when you sell. Over time a home can and often does fluctuate up and down in value. 
    Of course you'll want to know what the market conditions are in a specific location. One of the best sources of information regarding housing market conditions are local Realtors.  
    If you are considering selling your home and would like current value for your home follow one of the following two suggestions. Two excellent methods to determine your home's value are:  (1) Hire an Appraiser & (2) Consult a local Realtor and have them complete a CMA (Comparable Market Analysis) for your home.
Posted by on December 30th, 2015 4:49 PM

The road to home ownership doesn't start with getting pre-approved by a lender or with choosing a real estate agent. The quality of your wallet begins the home buying process. Without an acceptable FICO score, buying a house is more difficult and, you could find yourself renting longer than you expected in Newton County, Missouri until your FICO score is acceptable.

A FICO score is a collection of your years of credit history based on an instrument developed by Fair Isaac and Company. The score ranges from 300 to 850, with the majority of people normally having a score of 600. In recent years, however, some people have seen their score drop dramatically after unemployment, charged off credit card accounts, or credit card accounts that were closed because they don't carry a balance. Some of the factors in summing up your FICO score are:

  • Credit Inquiries — How many times has your credit history been accessed by someone other than you?
  • Types of Credit — Do you have a healthy mix of loans and credit cards?
  • Payment History — Do you pay your bills on time each month?
  • Credit to Debt Ratio — How much do you owe versus your available credit?

In reviewing your credit history, you'll see that you actually have three reports. Experian, Equifax and TransUnion.  You have a credit score with each of the bureaus.

Lenders want to ensure that allowing you a loan isn't a risk for them. Your FICO score gives lenders an insight into what type of borrower you'd be solely because of your credit history. You'll need a score of at least 700 to get a decent interest rate. You'll still qualify for a mortgage with a lower score, but the interest accumulated over time could be more than double the amount of someone having a superior FICO score.

At First Home Mortgage Company we work with all tiers of credit history. Call Karen Cunningham (417) 624-8778 and I can help you get on the right track to the home of your dreams

Posted by on December 18th, 2015 8:46 AM
Do you want your home to Spend Less Time on the Market? 
Before you list your home for sale, consider a surefire way to sell your house a well-planned home staging. Home staging benefits include fewer days on the market and better offers. And you should definitely consider professional home staging if you need a fast home sale

Staging your home is all about marketing. You want buyers to see themselves calling your house "home". You want them to see your current home as their next house.

Posted by on December 4th, 2015 8:56 AM
Tips on how to reduce the stress of buying a home part 2;
5). Once you have narrowed your home search down, be sure you drive through the neighborhood at various times of the day.  You want to get an idea of what the neighborhood activity is like throughout the day,and night.  

6).  Whether your offer on a home is written or verbal, it should be based on two things;
a).  What you can afford, b). What you believe the home is actually worth.  A professional Realtor representing you as a buyer's agent can do a Comparable Market Analysis on the home.  The Realtor will have knowledge of market conditions and recent sales, etc.

7).  Get a home inspection!  A home inspector's sole responsibility is to provide you with detailed information regarding the home.

8).  Once you have obtained your credit score, been pre-approved for a home loan, DO NOT MAKE any major purchases before closing on your new home.  Too many times a home buyer will obtain a signed and accepted contract on a home and before closing make a large purchase or even two before closing on the home.  REMEMBER, lenders will recheck your credit score before your scheduled home closing.  If you have made a large enough purchase before closing on your home.   It could have a major effect on your credit score and possibly keep you from closing on your home.
Posted by on November 19th, 2015 11:34 AM
  Basic tips to help you reduce the stress of buying a home!
1) Get Pre-Approved for a home mortgage!  There is a world of difference between a home buyer being pre-approved versus pre-qualified!  Being pre-approved means you have provided a mortgage lender your financial documentation.  Anyone can get pre-qualified for a loan.  However, being pre-approved allows the lender to determine exactly how much home you can afford to purchase based on actual financial documentation. This step really helps reduce the stress when starting your home search.  Nobody wants to start looking at homes, find one you really like only to discover it is out of your affordable price range.
2)Think long term when purchasing a home!  You might be planning to live in your home only a few years.  Another possibility is being transferred, needing a larger home, or later in life wanting to downsize.  Even though you might not have kids, if you want to resale your home schools are very important to potential buyers with children. 
3).  Unless you have purchased several homes, most potential buyers really benefit by using a professional Realtor.  A Realtor will assist you from searching for a home through the complete buying process. 
4). One basic fact in buying a home BIGGER IS NOT ALWAYS BETTER!  There is an old saying in real estate, Don't Buy The Biggest Home on the block.  (Remember tip number 2 think long term when buying a home)  Your home normally only increases in value as much as the value of other houses in your immediate area.  Remember unless the potential buyer is paying cash, a lender will require an appraisal for the home you are buying.
 In the next blog we will discuss additional stress relievers when buying a home.
Posted by on October 23rd, 2015 2:57 PM
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