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.

Austin Real Estate Podcast with Jesse Myles

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?

Before you start your home search, you need to determine your housing needs. To figure this out, there are a few questions you can ask yourself. The first is what price point do you want to be at? The price that you pay for your new home will dictate your monthly payments, so you should be comfortable with the amount. You should also ask yourself how big of a home you and your family will need. How much square footage and how many bedrooms would your ideal home have? What about outdoor space? “Everybody has a dream location in the best neighborhood, but many people don’t have the budget to match.” Next, consider where you want to live. Everybody has a dream location in mind at the start of their home search, but many people don’t have the budget to match. Nevertheless, an experienced Realtor will be able to help you find the perfect neighborhood, keeping in mind the amenities that matter most for you and your family. If you have any questions about this, or if you’re interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.

How to Determine Your Housing Needs

There are a lot of tips out there regarding what you should do when it comes time to sell, but today I’d like to highlight a few things sellers shouldn’t do. Let’s take a look at the four major mistakes you should avoid when listing. 1. Pricing too high. Overpricing your home will cause it to sit on the market for an extended period of time, and will likely cause you to lose money in the long run. You’re far better off working with an experienced agent who can help you set a fair price. Doing so will be the key to earning top dollar. “A car dealership wouldn’t try to sell a vehicle without cleaning it up first, and sellers should take the same approach to listing their home.” 2. Not making any home improvements before selling. A car dealership wouldn’t try to sell a vehicle without cleaning it up first, and sellers should take the same approach to listing their home. You should always clean, declutter, and depersonalize your home before putting it on the market. 3. Using insufficient marketing. A low level of exposure can greatly damage your listing’s potential, so make sure your Realtor is devoting enough time and energy into drawing buyers toward your home. 4. Not following your Realtor’s advice. Many sellers believe that they know best. But watching HGTV or doing research on Google isn’t the same as being an experienced, knowledgeable agent. When it comes time to sell, always listen to your agent’s input. If you have any other questions or would like more information, please feel free to give me a call or send me an email. I look forward to hearing from you soon.

Sellers: Avoid These 4 Mistakes When Listing Your Home

Today I was recently joined by my good friend Brandi Stokes to talk a little bit about the advantages of buying a home with her company, Cameo Homes. Cameo Homes has been building custom homes in the area for over 50 years and is one of the most respected custom home builders in the area. They build for people of all ages and budgets and a big part of their client base is referral and repeat homeowners. What sets Brandi apart is the fact that she always tries to put herself in her customer’s shoes. She doesn’t just want to know how many bedrooms or bathrooms someone needs, she wants to know how they’re going to use the home so she can get some better ideas about how to make the home more efficient for them. “Few builders in the area have the experience that Cameo Homes has.” Since we are in such a highly-populated military market, the fact that her husband is active-duty military helps her relate to her clients more easily and use her experience to help educate potential homebuyers. Education is key when it comes to building a custom home, and Brandi understands this and makes it a priority. Not a lot of other builders have the experience that Cameo Homes has. Because of this, they have a lot of flexibility with their floorplans to customize them for each individual client’s needs. Although Cameo Homes isn’t a high-volume home building company, they are a high-quality home building company. Whether you’re in Caline, Coe, Belton, and the surrounding areas, they’re able to help home builders make their dreams a reality. Their prospective homeowners come in with and without land. Deciding where you want to live is a big decision because 95% of the homes that Cameo Homes builds are forever homes. To learn more about Cameo Homes and how they might be able to help you, visit their website here or give me a call or send me an email today. Stay tuned for part two of this series, which will be coming out in a few weeks.

Pt. 1 of Our Interview with Brandi Stokes and Cameo Homes

What kind of floor plans do you have? There is a multitude to choose from, and you can see a small selection on our website. Those are the ones we’ve been building throughout the last decade. They’re customizable, and just because you see it one way on the website doesn’t mean it has to be built that way. We talk to homeowners about how big of a space they’re looking for, special rooms they want, etc., and from there we simply make modifications to our floor plans to accommodate the changes. We want to build you a home where you can make use of every space. What are the most popular floor plans? It may sound silly, but it’s usually whichever ones are seen. People are visual, and as custom home builders, we don’t have every floor plan under construction at one time. I can show a floor plan on paper, but if I walk someone through an actual place they can get a physical sense of a home. Lately, the most popular plan has been the San Gabriel, which has a media room. The only thing is that it’s a very wide floor plan, so there has to be a lot big enough to accommodate it. The Comel, Bosque, and Salinas are also quite popular. “95% of the homes we build are forever homes, so we think longevity.” What rooms do your clients like to customize the most? They like to customize kitchens and bathrooms—the master bathroom in particular. 95% of the homes we build are forever homes, so we think longevity. There may be a potential of wheelchairs or walkers in the future, so we need to keep that accessibility in mind. We think long-term and pray it’s not the case, but we plan for it anyway. How often do clients almost go over budget? They almost go over every time. I always tell my homeowners to dream big; I don’t want to tell you what you can and can’t put in your home, but I can guide you. The important side of my job is the guidance I give. Appraisers don’t care about all the pretty things you want in your home—they look for energy efficiency, spaces, etc. We can give you the nice things you want, but some deeper conversations may need to happen to really weigh the options. How long does it typically take to build new? For some people, the time from them walking through my door to them living in their home is a year. It’s dependent on whether or not we need to find land. It takes about six to nine months after we go to contract (when land, a floor plan, and selections have been decided upon). Why do you like working with clients and their Realtors? It takes a lot of stress off of me. It helps a lot when finding the right neighborhood or piece of land, and we know they’re being brought in as pre-qualified homebuyers with the money to afford a home. I don’t have to have that awkward conversation. Realtors also help to set the tone for us and act as a point of contact for clients. See what Cameo Homes has to offer you by visiting www.cameohomesdf.com.

Pt. 2 of Our Interview with Brandi Stokes and Cameo Homes

I entered the real estate industry back in 2006 while I was still on active duty in the military; I had just been stationed at Fort Hood. I knew a good Realtor who explained the whole home buying process to me, and that piqued my curiosity. After I bought my house, I stayed in contact with that Realtor. Eventually, I became a licensed real estate agent. I discovered that I enjoy the old army Senior (NCO) in me—I like helping people. I enjoy sitting down at that first consultation with people, explaining to them the homebuying process, and taking them under my wing and offering guided protection for their first large purchase. “As an agent, I stand out from others because I really listen to what clients want.” As an agent, I stand out from others because I really listen to what clients want. It’s not about pushing them into a home that they don’t want. I listen to the needs of my clients and go above and beyond to make sure they get them. After spending 20 years in the military, I now understand the fear of settling down and feeling stuck. I can put myself in the shoes of people who feel that way since I have been there, and I can help them develop perspective. I love many things about my job: I love meeting new people and helping them, especially younger, first-time homebuyers, since that is such a critical event in someone’s life. If you have any questions about my career or about buying or selling a home, please feel free to reach out to me. I would be glad to help.

How Did I Become a Real Estate Agent?

How do property taxes affect your monthly payments? This is a topic that many people are unclear about, so I’d like to shed some light on it today. If we have a $200,000 home where the interest rate is 4%, and the mortgage is set over a period of 30 years, your regular payment (without taxes and insurance) would be about $955. “When it comes to figuring out how much you’ll pay per month for your home, factoring in property tax and insurance make a big difference.” Now suppose that your property tax is 2.5%. You would multiply that $200,000 by 2.5%, leaving you with $5,000. Since there are 12 months in the year, divide that $5,000 by 12, which would be $416.66. Now that you have that figure, add it to the $955 monthly payment. That means that you’ll pay $1,371.66 per month. However, don’t forget your insurance. Supposing your monthly insurance payment is $50, you’d add it to the last figure, totaling a $1,421.66 monthly payment. When it comes to figuring out how much you’ll pay per month for your home, factoring in property tax and insurance make a big difference. If you have any questions about calculating property taxes or how to figure out your total monthly payments, don’t hesitate to reach out to me. I’d be glad to help.

How to Calculate Your True Total Monthly Mortgage Payment

I love working with For Sale By Owner (FSBO) homes. It’s really just somebody asking for help. A lot of these homeowners don’t realize that hiring an agent will actually help them net more when they go to sell. Although you do have to pay an agent a percentage of your sale price to your agent, the cost of sitting on the market without an agent could easily be much higher. In many cases, you could sell much quicker and for much more money by hiring an agent in the first place. “Buyers who peruse FSBO homes are looking for deals.” Another big benefit of having a licensed Realtor in your corner is their negotiation skills. They could end up getting you much more money, thus saving on the commission you were worried about. The buyers who look at FSBO homes are looking for good deals. They think that because they aren’t buying a home from a professional, they will get a great deal. It’s similar to the difference between buying a watch at a jewelry store and buying one at a garage sale. You’re automatically going to haggle the price at the garage sale, but you won’t in the jewelry store because you’re buying from a professional. The same concept rings true in the real estate world. If you want to learn more about the benefits and disadvantages of selling your home FSBO or anything else about our real estate market, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How I Help For Sale by Owner Homes

Today we’re going to talk about some of the common costs that people tend to forget about when buying a new home. 1. Home inspection. If you’re buying a home, you’ll need a home inspection, and you’ll need to pay for it. Many people forget to budget for the cost of a home inspector. “Don’t forget these things if you plan on buying a home soon.” 2. The earnest money and option money. 3. The actual cost of moving. This includes movers, moving trucks, new furniture, and everything else you’ll need to transport to your new place. If you’re in the market to buy a home, don’t forget those things. If you have any questions for me or want to get more details on the process, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

3 Things Every Homebuyer Should Budget for

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.

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Austin Real Estate Podcast with Jesse Myles

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