Real Success

1. We are buying a house and are getting close to closing. Our lender sent us a HUD-1. What is this document and what in particular should we be looking for on it? 2. If the government defaults will this impact the housing market?

1. If I want to list my house, and the realtor already has a waiting list of people looking for properties, and my house lines up with one of those waiting list people, am I better off selling it before it is ever listed, or should I take advantage of a possible bidding war? 2. What is an easement? Do I have to give up part of the land I purchased for an easement? Do I have to take care of the eas...

1. How does a realtor from the Shannon Sells Team determine the selling price on a house? Is it determined by the seller, or does the realtor have a magic formula to set the sale price? 2. Have you ever listed it a home for what the seller wants to list it for even though you know it is not properly priced? And did you have to hold your tongue to not say I told you so when the price had to be adju...

Enjoy this episode as we ask a local lender some important questions.

What do these new interest rates mean for you?

1. Are people still looking to buy homes even with interest rates? 2. Can I still get top dollar for my home in this market? 3. How do I figure out how much equity I have in my home currently?

1. When we go to close on our house, we've been told that we need title insurance. What is title insurance? 2. How do we choose a title insurance company?  3. I want to build and need to buy raw land to build on. What should I be looking for when buying a lot?

1. I'm considering buying a home from a FSBO--For Sale By Owner. I've done my market research, and the seller obviously has not. He is offering the house at below the market price for a home that size and age. Am I under any obligation to talk to the seller about his low price? Should I be wary that the price isn't what the market might sustain?  2. If I really want to sell my house fo...

1. When should I buy a vacation property and how would I do this? 2. What things should I ask my realtor when buying a vacation home? 3. How much should we budget for getting our home ready to sell? What's the average cost to get a home ready for sale?

Listen in to hear our weekly Q&A with James this week!

How would I start the search for an investment property? Why is it important to maintain a relationship with a realtor when you are not planning on buying or selling at the moment? Do realtors normally provide a newsletter or market update or helpful hints to their clients and prospects to help maintain that relationship?

If while under contract the house becomes uninhabitable due to natural disaster (the house burns down, gets hit by lightning, floods, etc), can either party get out of the contract?  If the client passes away while under contract, does the realtor represent during the estate process? & If, while under contract but before closing, the seller dies, does that void the contract? Do realtors s...

Has Watkins Realty ever disinvited a prospect or client? When does a realtor know when a client is not going to buy and is just using them for expertise?  When does the realtor reach the point of no return with the client?

1. Many people use on-line calculators to determine if they can afford to purchase a house. Although these calculators have a lot of value in the decision making process, there is a possibility that when the purchaser goes to get their loan, the numbers may be significantly different. Is it better to use an on-line calculator to determine home buying worthiness, or to speak to a lender i...

1. What are some ways to prepare my house for selling? Should I work on curb appeal? Should I bake cookies just before showings? Should I re-paint certain rooms before listing? What will get me the biggest bang for my buck to get my house sold? 2. In this housing market, are there any rent to own options? 3. Is it better to close on a house at the beginning or the end of the mo...

When I'm buying a house, do I always have to come up with earnest money to give to the seller before we close? Is it refundable if I don't buy the house? How do I know if the HOA for the house that I'm considering is charging the proper amount or too much? Is there an average rate for HOAs in Henry County? What does it mean to be pre-qualified? How do I go about doing that?

As the market seems to be flipping from a seller's market to a buyer's market, what are some seller's concessions that might be offered to entice buyers?  I am moving to Henry County and will be working mostly remotely from home. Is the internet service in Henry County reliable? If not, where should I reside that is close to Henry County that has reliable internet service? Should I be concern...

 I am planning on buying a house specifically to use as an Air B&B rental. Is there anything special I need to know about the process? A recent report by ATTOM generally states that it is cheaper to own rather than rent. Is that true in Henry County? Link; https://www.axios.com/2022/01/11/owning-is-cheaper-than-renting-in-much-of-the-us How do you handle a buyer who, after closing, has bu...

1. Help! My house sold faster than I thought it would. The house I am buying isn't ready yet, or I haven't quite found it yet. What should I do for a place to live in the interim? What are my options? 2. Is there some formula or calculation I can use to determine how much house I can afford to buy? 3. Can the seller determine the type of financing for the buyer? For example, wh...

1. If I wanted to become a real estate investor, and start my journey to financial success like Shannon Watkins, how much money would I need to start my investment business? 2. With the housing market and interest rates as they are, will real estate agencies start shedding agents?  Is it a bad time to get into real estate as a profession? 3. Should I be concerned with how a property is zoned?...

Tell me about signing a contract with a realtor. Is it exclusive? Can I sign a contract with more than one realtor at a time? How long is the contract typically for? How binding is the contract? Can a realtor help me find a place to rent, or do they just concentrate on buying and selling homes? I know they get a commission for selling a home--how does the fee structure work for rentals?

Buying a home can be as stressful as buying a car from a dealer. I really don't know what I'm looking for when I walk through a house. What two or three things should I be concentrating on to tell me the condition of the house? Foundation? HVAC? Hot water heater? With higher interest rates and a tight market, are there any programs in Henry County that help home buyers with down payments or grants...

Is there a website or other resource where I can see reviews of realtors to know which ones are good and which ones to steer clear of? A kind of Yelp or ZocDoc for realtors? What is a short sale and should I consider it if my realtor asks me to consider it as an option?

I've heard that a person can live fairly comfortably by investing in real estate. Is that true? How would I get started? Do I have to have a lot of money up front to do this? We're moving from out of state to Henry County. We've never seen pine straw before. What is it? It seems to be all over every backyard we look at.

We are planning to put our home on the market next spring and seeking advice on home improvement projects to maximize our sale. What guidance do you have on home improvement projects with the best resale value? Since the housing market is so tight, inventory is low, and the competition for a house is stiff, are open houses really necessary?