Earnest Money

Show me the money!

Let’s talk about earnest money. When a buyer makes an offer on a property, earnest money is tendered shortly there after.

If everything goes as planned, the earnest money is applied towards the purchase price at closing.

However, sometimes the wheels fall off the bus! Sometimes a buyer might decide to cancel their contract, typically this is because of inspection items.

If this happens, and the buyer cancels before their specified deadlines, their earnest money is 100% refundable.

So, when might the earnest money be non-refundable? Only if a buyer passes their loan approval deadline and cannot or will not close.

This is very rare and in 700+ transactions have only had a handful of buyers end up losing their earnest money.

Questions? Please leave them in the comments or DM me

Home Improvements for BIG Returns

3 small home improvements that yield BIG returns for sellers.

1. Paint the interior of your home a popular but neutral color. Repose Grey by Sherwin Williams or Oyster Pearl by Valspar are great options. Now I can hear you arguing with me - “its just paint, the buyer can choose their own colors and paint it themselves”. Here’s the issue, when the buyer sees the navy blue walls in your kids room they add it to their “to-do list” which means less money for you.

2. Some elements of home staging. A new rug, beautifully framed artwork (this doesn’t have to break the bank), a few strategically placed artificial (or real plants). A couple hundred will make a huge difference if the right pieces are purchased. The thrift store and a can of spray paint can go a long way too. For inspiration check out Pinterest.

3. Deep clean and declutter. This is probably the most important aspect. You only get one chance to make a first impression. Have a trusted friend over to help you “see” your everyday clutter.

On Cloud 9

You bought your first home

You were feeling like you were on Cloud 9.

You had so many great ideas on your Pinterest board to make this place your own.

But now several years have gone by and nothing has changed. Your space is feeling cramped and tight and you are dreaming of a new home.

But how could you swing it?

Everyone knows this market is nuts. You would have your current home sold in a heartbeat but wouldn’t be able to find a suitable replacement.

Prices have gone up so much, it wouldn’t make sense to buy a new home now.

Does this sound like you?

If so, we need to talk. I’ve got proven strategies to help you with this kind of move. Please reach out for a free copy of my Pathway to Peace guide or with any questions.

When Buying A Home, Check These 5 Things

5 things to always check out when buying a home

1. The roof. Two things here. What’s the condition of the roof and how many layers of shingles. If there are already two layers of shingles you will have to tear off all layers and re-roof. If there is just one layer you can probably re-roof over it.

2. The septic system or sewer line. It is possible to have a septic issue and not know it, especially if you are buying a home that has been used as a second home.3.

3. Latent moisture. Looks like an old leak, and it might be. But there still could be mold behind the wall.

4. Water quality and quantity. Will you have enough water and is your water drinkable? Not as much of an issue when you have city water but if you are on a well its important to understand quality and quantity.

5. Radon levels. Radon is an invisible gas that the EPA reports can cause cancer. Its has been around since the beginning of time. Some homes have very high radon levels and while it might not be a concern to you, you will have to address it when you go to sell your home.Thing

If you have questions, hit me up!

Mortgage Insurance

Show me the money!

Let’s talk about earnest money. When a buyer makes an offer on a property, earnest money is tendered shortly there after.

If everything goes as planned, the earnest money is applied towards the purchase price at closing.

However, sometimes the wheels fall off the bus! Sometimes a buyer might decide to cancel their contract, typically this is because of inspection items.

If this happens, and the buyer cancels before their specified deadlines, their earnest money is 100% refundable.

So, when might the earnest money be non-refundableOnly if a buyer passes their loan approval deadline and cannot or will not close.

This is very rare and in 700+ transactions have only had a handful of buyers end up losing their earnest money.

Questions Please leave them in the comments or DM me.

Lost A Potential Listing

I lost a potential listing the other day. They decided to go with someone else which is totally okay. You can’t win them all, right?!

In this market it’s incredibly hard to price property. Homes are regularly going for over asking and often with multiple offers.

Sometimes I feel like an agent turned fortune teller, trying to predict the future for my clients.

I am a data freak. In other words, I rely on the data to guide me. So when you ask me to list your home, I am coming prepared with the facts.

What are homes selling for?

How long are they on the market?

What’s the price per square foot?

What’s the available inventory?

How much more can I add to the list price knowing the current market conditions?

At the end of the day, I told these sellers a list price they didn’t like.

I want all my clients, both buyers and sellers, to feel heard, not pressured and above all respected. But part of my job is delivering professional advice.

I can promise you I won’t blow smoke.

I will tell you the straight facts.

I value transparency and being honest.

I will give you my honest opinion on price but ultimately the the list price is up to you and I will likely support it even if its over what I think is appropriate.

And I will advocate for you every step of the way. With gratitude

Agent Reputation

Agent reputation. Does it matter/

I think it does and let me tell you why.

If your agent is unprofessional it could hurt YOU in the long run.

Does your agent have a reputation of honest and transparent dealings?

Are their buyers prequalified and ready to buy?

Are their sellers serious and straightforward?

Has your agent set proper expectations with YOU, their client, so everyone is set up to succeed?

Is your agent easy to work with?

Does your agent return phone calls, text messages, and emails?

All of this can effect YOU when the rubber meets the road because in multiple offer situations, who you work with might make or break the deal.

So how do you know if you are working with a professional? Read reviews online (Zillow is a great resource), ask your friends and neighbors but most of all, interview your agent!

What did you sayYes, interview your agent!

Any time someone allows us to help them with buying and selling we have in some way or another “got the job”.

Its okay to talk to multiple agents and then decide who you feel most comfortable working with. True professionals welcome the chance to shine and earn your trust and business.

I Will Be Homeless

“But if I sell my home now I will be homeless!”

I’m hearing this sentiment a lot these days. Everyone knows the market is unpredictable and many sellers are putting off selling because they worry about finding a replacement property.

But what if I told you I’ve got a couple tricks up my sleeve to ease the transition and stress involved with selling and buying in this uncertain market?

1. Seller Contingency - Once your home goes under contract you have a specific time period to find another home. If you can’t find another house to buy you can get out of your contract.

2. Rent Back - After closing you can rent the home back from the buyers. This is typically calculated to cover their new monthly mortgage payment and can last up to 60 days.

3. Extra Long Closing - Contracts are taking longer than normal anyway because we are experiencing an appraisal backlog but it’s not uncommon for parties to agree to a 90 day extended closing.

All three of these strategies give some much need and valuable time to find your next home so you don’t end up homeless.

Have questions? Leave them in the comments.

5 Costliest Mistakes

The 5 costliest mistakes to avoid when selling your home (watch out for #3).

1. Not approving showings. Lets face it - selling your home can be an inconvenience and inconvenient showings come with the territory.

2. Skipping the cleaning and decluttering. You are used to all your “stuff” but to a buyer a dirty and cluttered home is a major distraction. Clean and cleared surfaces are attractive and give buyers confidence about the quality and value of your home.

3. Overpricing the market. You hired your agent for their professional guidance. If they tell you your home is worth $400,000 don’t insist on listing if for $500,000. That unicorn buyer (the one that will overpay for your home) is not out there.

4. Skipping major repairs and offering a “credit” instead. Carpet credits or painting credits don’t really work. As a rule of thumb if a repair or replacement costs you $1000 the buyer will want $1500 as a credit. Put your best foot forward and you will be rewarded with top dollar for your home.

5. Not listening to the market. If your feedback is consistently the same: price is too high, buyers don’t like the shag carpet or cigarette smell is a turn off. Listen! These are your customers and not adjusting to their feedback is a mistake.

Avoid These Mistakes

The 5 costliest mistakes to avoid when selling your home (watch out for #3).

• Not approving showings. Lets face it - selling your home can be an inconvenience and inconvenient showings come with the territory.

• Skipping the cleaning and decluttering. You are used to all your “stuff” but to a buyer a dirty and cluttered home is a major distraction. Clean and cleared surfaces are attractive and give buyers confidence about the quality and value of your home.

• Overpricing the market. You hired your agent for their professional guidance. If they tell you your home is worth $400,000 don’t insist on listing if for $500,000. That unicorn buyer (the one that will overpay for your home) is not out there.

• Skipping major repairs and offering a “credit” instead. Carpet credits or painting credits don’t really work. As a rule of thumb if a repair or replacement costs you $1000 the buyer will want $1500 as a credit. Put your best foot forward and you will be rewarded with top dollar for your home.

• Not listening to the market. If your feedback is consistently the same: price is too high, buyers don’t like the shag carpet or cigarette smell is a turn off. Listen! These are your customers and not adjusting to their feedback is a mistake.

Being a "Local"

Being a “local” has become a somewhat territorial statement.

“I’m a local so I know better, have priority or get to complain about all the non-locals”.

This is kinda BS in my opinion, after all we are all “locals” of planet earth At least I think so

But there is a situation where being a local is super important.

Your real estate agent.

I often have clients ask me to help them buy or sell in other areas such as Denver or Grand Junction. And while my real estate license is good for the entire state of Colorado, I don’t feel I am providing the best service possible by helping buyers and sellers in areas I don’t know.

If you are not a local you might not know about the large employer that’s about to relocate, or the proposed airport expansion or areas notorious for bad water or shifting soils.

It is so flattering that my clients want to “take me with them” to their new area. And while I cannot be their boots on the ground agent, I’m more than happy to interview agents in other areas and find a great fit - a local who knows their community and can look out for your best interests.

My network of excellent agents is literally worldwide. So if you need any agent in another area, please let me know. It would be my pleasure to assist you.

Serenity Now

Let’s face it, buying a home can be stressful. There’s a lot going on in a short amount of time and big decisions are being made.

But here’s one decision that should be easy - getting a professional home inspection.

Buyers ask me all the time if they should get an inspection and I always answer with a resounding YES.

However, I know that some buyers are capable of doing their own inspections and some want to save a little money and not hire the professional.

I can understand both of these sentiments.

However, if you think of a home inspection like to do insurance, you will see the value. If you could insure a $300,000 house for $600 would you do it? Of course!

A home inspection is your “try before you buy” insurance.

Bring some peace to your home buying experience and go with the professional home inspection.

Fill In The Blank

I wanna buy a house, but.....

Don’t Get Caught!

Did you know that some home owners insurance policies only cover damages to your home within 30 days of you moving out?

I found this out the hard way.

We had moved out of our house and I was checking on it every other day, BUT on the one day I wasn’t there the dishwasher decided to go kaput!

What ensued was the basement filling up with water and doing tons of damage.

I called my insurance company to make a claim and received the bad news; all repairs would be out of pocket!

Sucker punch to the gut!

So what can you do

If you move out of your primary residence make sure you check with your insurance company to find out what will be covered.

In most cases you can get “vacant home” insurance which is more money than a standard policy but much, much cheaper than dealing with a flooded basement.

Please, please, please learn from my mistake and don’t make the same one yourself.

BTW - second homes have different insurance policies that typically fall under different guidelines.

Please reach out if you have questions.

Best Offer

First offer is your best offer.

This is a phrase we hear in real estate and what I have found over 20 years is that often times it’s correct.

When I help sellers price their homes I use other homes that have sold to narrow in on pricing.

Buyers are very savvy and with the help of technology they can do their own research to see what other homes like yours have sold for.

If you get an offer on your home right away that means you priced it right.

In this market, if your home has had very few showings and/or no offers you are likely priced too high.

It’s better to get ahead of the market than chase it down with price reductions.

Do You Want To Buy A House?

So…. How long does it actually take to buy a house?

A week?

A month?

Six months?

And what does the process look like anyway?

Well hopefully this video will answer some of that for you.

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A Story of Patience

A hunk of clay. Soft, malleable and unassuming.

Yet, center that piece of clay on the wheel and with careful movements and patience you can create a masterpiece.

I took pottery in college, this is one of my creations.

It was probably my very favorite class…. ever.

One thing you need to know about pottery - you CANNOT be in a rush. See, if you don’t get the clay centered you have no chance of making anything but a mess.

As a twenty something I didn’t know much about “being present” or “finding inner peace”. But I do know that when I sat at the wheel with the clay swirling between my hands that I went to another place.

I would lose track of time, and the room would go dim and quiet.

Just me and the clay.

Only after many failures do you know the moment the clay is ready to become something else.

Ready to become something that is imagined in your mind and flows from your hands into the clay.

Even if you don’t consider yourself “artsy” or “creative” if you ever have a chance to give pottery a whirl I would so recommend it (pun intended).

But as I said you will have to have patience, something all of us could practice more of.

Teamwork Makes The Dream Work!

Teamwork makes the dream work.

In order to have a great experience when buying a home you need to have a team of superheroes on your side.

• Real estate agent. Someone you trust, who has your back and understands the market and area.

• A rock star lender who understands mountain properties, is easy to communicate with and delivers on time.

• An experienced home inspector who is knowledgeable and takes the time to explain the findings in your inspection report.

• A title company who is responsive, accommodating and precise.

You don’t have to do this alone.

New Pair Of Boots

I was about 12 years old and needed a new pair of boots. My mom was busy so my dad took me shopping.

Now I know some of you dads out there might be good at shopping with your pre-teen daughters. My dad on the other hand embraced the mentality of “what’s the quickest and cheapest” method.

Next thing I know we are pulling up in front of a large discount retailer. We quickly cruised over to the shoe aisle and before I knew it I was walking out the door with a cute but inadequate pair of boots.

Week one went great, lots of compliments and comfort was decent.

By week two the fake leather was peeling off and I had blisters on both heels.

Lesson learned - You get what you pay for

Somethings in life do not benefit from cutting corners on time or money.

Same thing goes for real estate agents. Are there agents out there that will sell your home for a discount? Sure there are, you’ve probably seen the commercials on TV.

But...you get what you pay for. This is likely your most valuable asset, not a time to cut corners and go with the cheapest option. Time to go with the BEST option whatever that might be.

Remember cheap boots make for miserable feet

***Side note - these are not said boots. They didn’t last long enough for a photo op!

SOMETIMES THE TRUTH HURTS

You’ve all seen it. American Idol auditions gone bad. They are cringe-worth at best. I find myself squirming in my seat, its perplexing, strangely fascinating and downright sad.

The worst part is when the families greet the crestfallen contestant with soothing words of comfort. “Oh, sweetie, those judges don’t know a thing. You are the best signer in the world!” This is the part that drives me insane. Why lie to these poor people? They are terrible singers and NEVER should have auditioned for the show.

Telling someone the cold hard truth is sometimes very hard. You don’t want to hurt their feelings, crush their dreams or seem insensitive. But your honesty is sometimes the most important thing they need to hear.

A couple of years ago I met with a very nice family who wanted to sell their home and move out of state. The winters were getting tough for them and they were having some health issues. Selling was a must. I met them at their house and noticed right away this was going to be a tough property. There was stuff everywhere, inside and out. The house was dirty, dark, and falling apart.

They gave me the grand tour and we sat down to talk. I asked them about their goals and timeline for selling their home. They needed to be out of here by September which only gave us 3 months to sell. They were short on time, money and resources to get their home ready for market. They looked at me with hope in their eyes and asked what was next. This was the moment for the cold hard truth.

.When I first started in real estate I probably would have tried to gloss things over and ease the blow. “No, its not that bad, buyers can look past your stuff.” Now I know better.

.People hire me for my professional and honest advice. This family had a tight timeframe and a pressing need to leave the area. So I told them the truth.

That no one would buy their home in its current condition. And because we were dealing with a very tight timeframe they were going to need to price their home much below market value to get it sold quickly. I said all of these things with tenderness and grace, because I very much care about how my words make people feel. At the end of our meeting they thanked me for my encouraging words.. What?? I didn’t think I sounded encouraging at all, but then I recognized it was the honesty and a thoughtful game plan that gave them feelings of encouragement.

.Sometimes the truth hurts, but I believe if you really care for someone you owe them the truth and nothing but.