This is the difference between being pre-approved and pre-qualified. What’s the difference between being pre-qualified and pre-approved? When you’re pre-qualified, the lender is going off the information you’ve told them: your name, social security number, income, bank account resources, credit score, etc. and they pull your credit score. Being pre-approved means the lender has verified all your information and looked at your documents such as tax returns, bank statements, and W2s. What you truly want is a pre-approval because it proves you’re legitimately qualified for a loan. Being pre-approved also looks better to a seller than just being pre-qualified.  If you have other questions about this or any other real estate matter, please contact me via phone or email. I would love to help you.

Austin Real Estate Podcast with Jesse Myles

The Difference Between Pre-Approved and Pre-Qualified

Here’s a significant factor to consider in your home-buying decision. In my opinion, the decision to buy a new or a resale home depends on what you’re looking for and the lifestyle you want to have. With a resale home, you can get a home in an established neighborhood with character. You’re also going to generally get more land with these homes compared to a brand-new subdivision. “A new home is a reflection of your style and preferences.” With a new home, you get to live in a home you designed, and it is a reflection of you. If it’s in a new neighborhood, you can watch that place grow over the years. Another advantage is the lack of deferred maintenance. All the systems and other major items in a new home will have a builder’s and manufacturer’s warranty because they’re brand new. At the end of the day, every situation is different. If you have any questions for me about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Should I Buy a New or Resale Home?

Here are three things to consider when pricing your property for sale. It’s crucial to price your home correctly when selling because you don’t want it to sit on the market for very long, as this causes other issues. First, consider the condition of your house; make sure it’s clean and all major repairs have been done. Second, think about your property’s location; is it on a cul-de-sac, a corner lot, or in a desirable school district? Third, consider what’s happening in the current market; what is it dictating?  If you have any questions concerning pricing your home or real estate in general, feel free to give me a call or send an email. I would love to help you.

Pricing Your Home Correctly

Here’s my advice on which home renovations to pursue for a great ROI. In my opinion, the two most important areas to renovate in your home are the kitchen and the master bathroom. Potential buyers will have their eyes on many things in your kitchen including cabinetry, countertops, appliances, and flooring. As far as the master bathroom is concerned, they’ll be paying special attention to upgrades that help make it feel more like their own personal space (e.g., sleek showers, jacuzzi tubs, and modern fixtures).  Investing your time and money into upgrading these two areas of your home will almost certainly yield a solid return. Even if you don’t plan on selling your home until much later down the line, making these renovations now will still mean more time for you to enjoy them yourself. Before you throw your money at any sort of major undertaking, though, it’s best to consult with your go-to real estate resource; depending on your neighborhood, you could run the risk of over-renovating your property.  As always, reach out to me if you have further questions about this or any other real estate topic. I’d be more than happy to discuss your particular situation and help you plan for a strategic renovation.

Which Home Renovations Offer the Best Return?

Here’s how home appraisals work and why you don’t need to be nervous. A lot of homebuyers get nervous about home appraisals and want to know what their options are if a home doesn’t appraise. The appraisal is geared to protect the homebuyer and the bank. The bank will hire a third party to run the appraisal to make sure the home’s value supports the amount of the loan, ensuring you don’t overpay. The appraiser will look at the home’s condition to make sure it’s comparable to the value of other homes that have recently sold in the market.  “The appraiser is geared to protect the homebuyer and the bank.” At the end of the day, the appraisal process is nothing to be worried about on either side. It’s just there to protect homebuyers and their lenders. 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.

How Do Appraisals Affect Homebuyers?

Here’s what it takes to prepare your home for the 2021 spring market. If you’re thinking about selling your home in spring 2021, one of the first things you should do is specify a clear target date—by what point exactly do you need to have your home sold? After that, take a look at your home’s curb appeal; make sure everything concerning your landscaping and exterior is in tip-top, showable shape. Slowly work your way inside, turning your focus toward decluttering rooms and organizing your belongings. Store, toss, or donate items that you don’t use anymore and might distract potential buyers from your home’s great features. Your goal is to trigger the emotions of a buyer by allowing them to easily envision their lifestyle in the home.  Next, start tackling some of those maintenance issues that you’ve been putting off for a while like loose fixtures, cracked windows, and water spots on the ceiling. Dealing with any major repairs is a must, even in a strong seller’s market like ours. If you do those simple things, your home will be ready for the spring market, and you can expect to sell quickly for top dollar. As always, reach out to me via phone or email with any questions or real estate needs you may have. If you’re embarking on a 2021 home-selling journey and want some guidance, I’d love to get the conversation going today.

Are You Aiming for a Spring Sale?

Here are a few signs that likely indicate it’s time for a new home. Life quickly throws many things at us and we undergo many changes as a result. One of these changes is moving homes, and there are usually clear signs when it’s time. If the kids have all moved out, for example, it’s probably time to downsize. On the opposite end, if you’re having kids and need more room, then you should start exploring the market for something bigger. If you have any questions for me about your personal situation or about real estate in general, don’t hesitate to reach out via phone or email today. I’d love to hear from you.

Q: What Are the Signs That It’s Time to Move?

Here’s why commission fees shouldn’t determine which agent you work with. Should commission fees be the main determinant of which agent you choose to work with? Think of it this way: If you can out-negotiate the person you’re hiring to negotiate the biggest asset you own, should you work with them? What kind of service can you expect at a discounted price? Will they bring you discounted buyers, as well? If an agent is willing to give away their money, imagine what they’ll do with yours.  As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.

Should You Be Swayed By an Agent’s Discounted Price?

What should you do when there are issues with your appraisal? Find out here. Sellers, do you know what happens if there’s an issue with your appraisal? There are really two main appraisal issues that come up during the selling process: 1. The home doesn’t appraise at the list price or contract price. In this case, your listing agent can show the comps they used when they did your comparative market analysis versus those the appraiser used, and then submit them to the appraiser. There are sometimes homes that weren’t posted on the MLS that your agent has information on that the appraiser didn’t. 2. The lender requires repairs. During the option period after the inspection report is done, your listing agent and the buyer’s agent should go through the report and identify the repairs ahead of time. That way, everything is fixed and well-prepared before the appraiser comes out. If you have any other questions about what to do if your appraisal comes back with an issue, feel free to contact me.

How to Respond When You Find Issues With Your Appraisal

Here’s what you must remember when choosing between multiple offers. As a seller, what’s the best way to choose between multiple offers on your home? There are a couple tips to keep in mind. First, make sure your offers are organized. For example, you can try having your offers on a spreadsheet so you can easily identify which has the most earnest money, which has the highest price overall, etc.  “You must lean on your Realtor to help you decide.” Second, make sure your Realtor “plays detective” with each buyer. They should be talking to each of their agents and asking questions about them. They should also talk to each buyer’s lender and learn more about their financial situation. This will give you a better idea of how strong each buyer is, and your Realtor should know which questions to ask without crossing the line.  After gathering this information, you and your Realtor should be able to choose the best offer. Don’t get fixated on an offer that’s way above your asking price, either. Offers like these sometimes cause your house to not appraise.  When it comes to choosing between multiple offers, the bottom line is that you must lean on your Realtor to help you decide.  If you have questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.

Being a Seller in a Multiple-Offer Situation

There are many things to think about before moving to a new area—what should you consider before moving to Central Texas? What should you consider before moving to Fort Hood and the surrounding areas?  I moved to Fort Hood in 2005, and a couple of things I really thought about before deciding to plant roots in Central Texas were affordability and whether this is a good area to raise my family in, with great schools and amenities. The answer is that Fort Hood has great amenities and plenty to do! Austin is about an hour’s drive away, Dallas is within two and a half hours, and Houston is about three hours away. You can get to many different events, sports, and concerts for a day trip. “We have a wonderful community that just keeps growing.” Another thing to think about is the outdoors. There are many lakes and hiking trails here. For community events, there are plenty of things going on for families. We have dog parks and a new YMCA. We have a wonderful community that just keeps growing. Central Texas has developed a lot and has secured a piece of my heart. If you have any other questions give me a call or send me an email, I would be happy to help you.

What to Consider When Moving to Central Texas

If you’re a real estate investor, you might be wondering when you should be raising your rent? Here are a few situations where I recommend doing so. In my opinion, the best time to raise the rent on your investment property is on a few different occasions. The first is on annually. The second is when you make any improvements or add any amenities to the property. Finally, any time that you notice the market is headed up, you want to stay competitive with other properties as well by increasing your rent. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

When Should You Raise Rent on Your Investment Property?

Should sellers still host open houses? Let’s explore this question today. In today’s digital age, many sellers are no longer sure whether open houses are worth hosting. However, in my professional opinion, open houses are the No. 1 source of advertising a listing can have. Open houses are a low-pressure alternative to one-on-one showings. Not only that, but open houses also generate a lot of foot traffic and allow buyers to simultaneously see the home and their competition in person. This helps boost demand for your home. The bottom line is yes: Open houses are still a great marketing tool. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Are Open Houses Worth Hosting?

Venturing out into the world of real estate investing starts with these steps. If you’re thinking about investing in real estate, where and how do you start? Before anything else, you’ll need to decide what type of investor you wish to be: a house flipper, one who buys and holds property for rent, or a wholesaler. Your next move should be to sit down with a real estate professional and map out your goals. For example, if you’d like to buy and hold property and your goal is to make x amount in passive income, you and your agent can work together to determine the number of properties you’ll need to invest in. Get laser-focused and get in touch with an agent to begin your investor journey today. If you have any questions or would like more information about your investing options, please don’t hesitate to reach out to me. I’d be happy to help!  

How to Get Your Start in Real Estate Investing

You’ve got your sights set on buying a new home, but where do you begin? Your first priority should be to get pre-approved with a mortgage professional. That way, you’ll know the extent of your purchasing power. Once you know how much house you can afford, bring this information to a real estate professional who will then show you homes that are within your means. From there, you can begin to narrow down your search and reach a decision. If you have further questions or you’re looking to get the home buying process started soon, please feel free to reach out to me. I’d be happy to help!

How Does the Home Buying Process Unfold?

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Myles Group - your professional Greater Fort Hood Real Estate Agents.