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Showing posts from November, 2013

Home Inspection Nightmares--Or Lack Of Inspection

Pink House Team

The importance of a home inspection cannot be expressed enough.  Here are a few nightmares from people who decided not to have a home inspection.

We had a difficult transaction due to some mortgage paperwork so when the day of closing came everyone was very happy.  The buyers had opted out of having a home inspection because the seller had one done a few months earlier and they were satisfied with the results.  That happy day turned into a nightmare when the whole family nearly died from carbon monoxide poisoning from a cracked heater.  Another client decided not to have the gas line tested.  Their happy day turned into a not so happy day when the gas company turned off their gas and they had to replace the gas line to the street before they could get their gas turned back on.It was a great house and a fabulous deal.  The buyer was a handy person and wanted to look the house over on their on.  Two days after closing the plumbing wouldn't work and they had to repla…

Meet The Specialists On The Pink House Team at Keller Williams Realty

The Pink House Team is a team of specialists.  We believe that we can provide better services to our sellers and buyers if each of us specializes in only one part of your real estate transaction.

Meet the Team

Pamela Madore is our Listing Specialist. She has more than 30 years experience in the real estate and mortgage business in Florida.  She has been in Amarillo with Keller Williams Realty for nearly 7 years.  Her certifications include:

Certified in Recruit Select, Train, Lead and Motivate Short Sales and Foreclosure Resource Certification
Keys to Creative Real Estate Financing Property Management and Cash Flow US Tax Liens and Deeds Commercial Real Estate Investing Licensed Loan Originator Certified in Mega Agent Listing Skills BOLD Graduate

Angela Sheffield is our Buyer's Specialist.  Her job is to work with buyers from Buyer's Consultation until we have a signed negotiated contract.  She works hand-in-hand with Pamela to find buyers for our listings.  Angela has had more than 10…

Frequently Asked Financing Questions

Q.   How do I find out what my credit scores are?

A.  There are a few ways that you can do this.  You can go online and pay to have a company show you what they are.  By far the best way is to talk to a lender or a bank about pre-qualifying and they will pull your credit.
Q.  What if I have had a bankruptcy?

A. Generally if you have re-established your credit and have had no late payments or collections since the bankruptcy, you would be able to get a mortgage 2 years after the DISCHARGE date.

Q.  What if I had a foreclosure or a short-sale?

A. Generally, if you have had no late payments since the foreclosure/short sale's final date you would need to wait 3 years to apply for a mortgage.

Q. What if I haven't been on my job for two years?

A.  Lenders want to see a consistency in work history.  They like you to be in the same line of work or to get a better job.

Q.  Do I need a bank account to get a mortgage?      
A.  Lenders will need to verify that you have enough cash to cl…

Strengths Finder 2.0--Achiever

Pink House Team
Pamela Madore

Strengths Finder 2.0 is a book by Tom Rath about, as the name suggests, finding your strengths. Sometimes your strengths can drive you nuts.

One of my strengths is "achiever".  I am a very high achiever which means that at the end of the day, I must have accomplished something.  The interesting part about that is, if you have a particular thing in mind that you want to accomplish and the plan go sideways, you can't replace it.  It becomes very frustrating.

Rath talks in his book about achievers starting every day at zero and having to accomplish something every single day or achievers become dissatisfied.

This really makes it hard to take a day off or go on vacation.  Achievers are often obsessed about their work.  For me, when I plan a vacation I already have also planned what One Thing I can do each day related to work that I can accomplish that day.

These are things you hear from high achievers.  "Don't waste my time." or …

List Your Amarillo House In Time For Black Friday Shopping!

Pink House Team

Black Friday.  The day after Thanksgiving.  I have heard it said said how ironic it is that we give thanks on Thanksgiving Day and then the next day everyone races to the retail outlets to fight over this year's bright shiny object.

This year, let's highlight your house as the bright shiny object everyone is fighting over!  We can decorate it up with lights inside and out.

When they drive up in front of your house, they will be pleased to see a subtle amount of lights trimming the house and a small lit Christmas tree by the front door.  The air is crisp and they hurry to get inside.  You hang mistletoe over the door so the new couple will kiss their way into their new home.

The tree will be beautiful with lights and tinsel and colorful balls dangling from its branches.  You will put a few wrapped presents with red and green bows under the tree and have  subtle holiday scents floating through the air.  Your house is warm and inviting with dimmed lights and sof…

Reasons To Sell During The Holiday Season

Pink House Team Keller Williams Realty 7304 SW 34th Amarillo, TX 79121 806*290*1920


Very Desirable Wolflin Home!Move in before Christmas.  3 bedrooms

Pink House Team Keller Williams Realty 7304 SW 34th Amarillo, TX 79121 806*676*6341

Sell My Ridgecrest Home In Amarillo Texas

Pink House Team

When you are ready to sell your home in Ridgecrest, it is important to know what other houses have sold and for how much.  Ridgecrest is a very active area and 58 houses have sold in the last 12 months!

The next thing to look at is what your competition is.  What the houses around you have sold for will help you decide what your house will sell for.  Remember, however, the market can change daily and that change has to do with the ongoing coming and going of properties.

As of today, there are 17 homes for sale in Ridgecrest.  In order to see where you will put yourself in the market, you will need to compare your house to all of the other available houses and ask yourself some questions.
Why would a buyer buy my house instead of one of the others?  What special features or benefits can I point out?  Do I want to price it at a 30 day price or a 90 day price?
Thinking about selling your Ridgecrest home?  We can help you price it where you want to be!  Even if we have to…

What Did My Neighbor's House Sell For?

What is your home worth?  Free report for your neighborhood.  Call today.


Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121

Seller Nighmares

Pink House Team

Selling a house can be a grand adventure that either is great fun or very stressful, depending on how you look at it.  I wanted to share with you some seller nightmares.

This is a recent one.  The buyer fell in love with the house.  As a matter of fact, she paid more than the asking price because there were multiple offers.  Some of the shingles looked funny so during the inspection process the seller had an insurance adjuster and roofer come and look at the roof.  We recently had a big hail storm and more than 12,000 roofs had been replaced in Amarillo.  They concluded, however, that the shingles weren't damaged they were, in fact, faulty from the manufacturer. The house was only a few years old so they called the builder who could only refer the homeowner to the shingle manufacturer.  The manufacturer was in multiple lawsuits because of the faulty shingles so to file a claim and wait could take months.  Another agent had the same problem with the same manufacturer …

Ridgecrest 12 Month Home Sale Statistics

Pink House Team

Ridgecrest is a very active neighbor with 58 homes sold in the last 12 months.  Below is a summary of Market Statistics.

Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121

A Career In Real Estate

Keller Williams Realty is a unique company with amazing opportunities.  Our training is beyond compare.  No one is left without direction.
Getting a real estate license might be easier than you think.  All of the classes can be taken online and we are able to get all of the classes to you for a discount.  They are all online and can be taken at your own pace.  Some people do them in a couple of weeks and some a year.  You decide.
Keller Williams Realty equips you with systems and tools to help you grow your business.  You will start out with a state of the art database system.   You get two websites and will have your own personal mobile app that you can give to all your clients.  
Some of the other benefits are "capping" and  profit share.  Keller Williams Realty believes that its agents are its biggest asset.  You promote yourself--not Keller Williams.
We are the number one company in Amarillo in both volume and units.  We believe that everyone should have their "unfa…

Buy Me Today!!

Very cute 2/1 with a 2 car garage for only $78,000 in Sunset/Westlawn.  Central Heat and Air and hardwood floors.  Separate laundry room and large kitchen.  Look at the pictures and call today!

Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121

Real Estate Terms And Definitions

Pink House Team

As with any industry, real estate has its own language.  Here is a list of a few of the terms and their definitions.

CMA--Comparable Market Analysis.  This is something that we as Realtors do to help you decide how much your house will sell for.  We use data from comparable properties using sold, pending, and active listings.

PENDING--This is the same as "under contract".  It means that the buyer and seller has reached an agreement to terms of the sale.  They may or may not be through the option period.

OPTION--This is the period of time that the seller is willing to take the property off the market for the buyer to do inspections.

INSPECTIONS--This is when a buyer hires a certified residential inspector to come and do a thorough inspection of your property to check for any defects. They do not determine the value of the property. That is an appraisal.

APPRAISAL--An appraisal is done by a licensed appraiser to determine the value of your property. This is sim…

Should I Owner Finance? Buyer Or Seller?

Pink House Team

Owner Financing can be a very attractive thing for sellers that are ready to sell but don't want a big sum of money to pay taxes on and/or put it in a low paying money market or something similar.

From a buyer's point of view, owner financing can be attractive for a number of reasons.  Very often buyers have had some credit bumps and with the tightening of credit are finding it difficult to qualify for a home loan.  Other buyers have good credit but don't show enough income on their tax returns to qualify.  Some may be self-employed for less than two years.  There are a myriad of reasons.

Here at the Pink House Team we get calls every day from buyers that want to know about our owner finance program.  Just today, we got a call from someone that has been self-employed for 1 1/2 years so he can't qualify.  Another buyer had a credit score that just wasn't quite enough.  Specializing in owner financing, we are able to help many buyers that would not …

Addorable 2/1 In Sunset/Westlawn

Awesome house for a first time home buyer!  Two good sized bedrooms, large kitchen and beautiful floors.  Look at the pictures and then call for an appointment!

Oh.  And did I mention a 2 car garage!
Pink House Team Keller Williams Realty 7304 SW 34th Amarillo, TX 79121 806*676*6341

Start The New Year Old With A New Career!

Interested in a new career?  Let me show you how.  Keller Williams Realty is a unique company with endless opportunities.  

Contact me for more information.

Pamela Madore
Pink House Team
Keller Williams Realtyl
7304 SW 34th
Amarillo, TX 79121

Thinking Of Relocating? Try Amarillo Texas.

Pink House Team

Amarillo is a great place to live; other than no water or trees and 45 mile an hour winds. I am not a native Texan but I found that in Texas you are welcomed as opposed to Maine where I grew up.  Any transplant there was "an utta state-ar" (correct spelling Out Of Stater).  I lived in Florida for a long time, too, but no one that lives in Florida is actually from Florida; just lots of "snowbirds".

When we first moved to Texas from Florida there were some specific things that I noticed.  Silly, I suppose, but none-the-less big changes.  I immediately noticed that paper bags crinkled.  In Florida they made no apparent noise.  They just
flattened.  The same with newspapers.

I also noticed that there is no humidity.  None.  On the occasion that humidity is above 10, Texans complain about the humidity.  In Florida the humidity hovered at 90 most of the time.  And in Maine we just had muggy days.  Of course, with no humidity my skin dried up like a prune.…

You Will Love This Four Bedroom Two Bath House In Amarillo

Great 4/2 with workshop and central heat and air.  Not a typical house!

Take a look at the pictures!  
Pink House Team Keller Williams Realty 7304 SW 34th Amarillo, TX 79121 806*676*6341

Ten Steps To Buying A House

Step One:  Contact the Pink House Team to help you get started.

Step Two:  We will help you get pre-qualified for a mortgage.

Step Three:  Determine what you want for a house, where the house is, and any other determining factors.

Step Four:     If you see any houses that you like the looks of as you are riding around or looking online, get us the addresses and we will get all of the details for you.  It doesn't matter if it is with another company or a FSBO.

Step Five:  Look at houses that are in your price range and meet your criteria.

Step Six:  Choose the perfect house for you!

Step Seven:  We will help you coordinate your inspections and negotiate repairs for you.

Step Eight:  Make sure that the lender has everything that they need.

Step Nine: Wait.  This is the hardest one.  When everyone has finished their paperwork we can move to Step Ten.

Step Ten:  Go to the title company and sign the papers and get your key!

Contact us today to get the process started for you!

Pink H…

Help! I Want To Sell Quickly!! What Do I Do?

Pink House Team

In addition to the big three; price, location, and condition you also need an aggressive marketing plan. Keller Williams Realty provides a solid foundation for that to happen but we at the Pink House Team have expanded the typical marketing to personalize it for each of our clients.

You may have heard of the 3 P's of listings.  They are Put it in the MLS, Put a sign in the yard, and Praysomeone sells it.  The Pink House Team has another P.  We Proactively work to find a buyer for your house.                                PPP

Since 90% of home buyers begin their search on the internet that is where we devote most of our marketing time.  We currently have 3websites  and we are working on more.  There are many types of buyers so we diligently work to attract them all to our client's houses.

Financing is probably the most difficult part of the home buying process.  I have had more than 30 years in the financing industry and can often "think outside of the b…

Hydro-Static Testing Can Be A Seller's Worst Nightmare

Pink House Team

In Amarillo the newest fad is having a hydro static test.  We made it through the lead-based paint and mold phase. Don't get me wrong, lead-based paint and mold can be very harmful to you.  The thing about it is, everyone wanted it tested even though there were no signs that either lead-based paint or mold were anywhere near the property. The same is now true for hydro-static testing.

A hydro-static test consists of a plumber fill the pipes full of water while cutting off the water at various strategic places around the property.  If the pressure  holds, all is well.  If it drops a millimeter panic strikes even though the seller has never had any problem whatsoever with the plumbing.

Really old sewer lines may in fact leak.  In Amarillo we don't have a lot of water so what few trees we have must survive and the closest source of moisture for them are sewer and water lines.  They like to wrap around sewer pipes and infiltrate them.  When this happens, you can c…

Why Would A Buyer Buy Your House In Amarillo

Pink House Team Throughout the years we have worked with many buyers and there has been a consistent theme of what buyers want. These are some things to consider when you put your house on the market. The first, of course, is location. That is nothing that you can change but you can enhance it by describing why you bought the house and how the location has affected you--either good or bad. For instance, you would think that buyers would never want to be near the railroad tracks. In truth, more than one buyer wants to be near the railroad tracks. Quite often they work for BNSF and want to keep track of the trains. Buyers want honesty.

 Next is condition. There are a few different classes of condition. There is a difference between a house and a home and we have found that homes sell faster. A house that has been newly rehabbed is attractive to buyers because everything is fresh and new but it still doesn't compare to a home. A home has been lovingly kept. Anything that …

Buy Before January 10, 2014

Pink House Team

On January 10, 2014 numerous new lending laws will go into effect.  Some of them stem from the Frank-Dodd Act and some came from the Consumer Financial Protection Bureau and some of them are a combination of both.

I am not an expert on this nor am I sure I have any idea what I am talking about.  Oh, wait.  Neither does anyone else.  What I might have to say here on the subject will definitely conflict with what others say and some of it will align with other articles.  The only thing that we can all agree on is that after January 10, 2014 there will be a big mess in the mortgage business which will detrimentally affect the real estate industry.  Just what we need, now that we are finally on the road to economic recovery.

Apparently the left hand wanted everyone to be in the category of a QRM (Qualified Residential Mortgage) and the right hand wanted everyone to be a QM (Qualified Mortgage).  They seem to have collided and ended up with a combination but kept the QM a…

The Pink House Team At Keller Williams Realty Helped Another Veteran Into His New Home

The Pink House Team assisted another Veteran in using his VA Home Loan benefits to buy a house. The Veterans Administration has a special program for Veterans when buying a house. One of the most attractive benefits is that VA requires no down payment.

Pamela Madore of the Pink House Team says, "We really love to help Veterans. They served our country risking their lives and I think that often we as a country forget that. Anytime we have the privilege of working with a Veteran we feel that that is our little way of giving back."

According to FindTheData their are more than 12,000 veterans that live in Amarillo. The maximum VA loan limit in Potter/Randall Counties is $417,000. The two important documents have Veterans will need is their DD214, proof of military service, and their Certificate of Eligibility. Their Certificate of Eligibility (COE) shows that they have met all of the necessary guidelines to become eligible, such as length of time served.

VA Home Loans are guarantee…

Investor Financing--15% Down And You Pick The House

OWC Mortgage LLC

Investor financing available.   Your credit is not the determining factor.  Must be a good house and you must have income.  Call today for details.

OWC Mortgage LLC
NNLS 301896
7304 SW 34th
Amarillo, TX 79121

Also a Realtor at the Pink House Team at Keller Williams Realty and will be acting as your agent.  

What Do You Do If Presented With A Contingency Offer?

Pink House Team            

Sometimes in the home selling process a buyer will find a home that they want to buy before their house sells.  What do you do if your house is the one they want?

You will be presented with a contract with a "contingency".  The contingency will be that their house sells before they can close on your house.   Also in the contingency agreement there are some negotiating points.  It covers what will happen if you get another offer on your house.

There are two main things that will be negotiated in the contingency offer.  The first is how many days the buyer will have to remove the contingency should you have another offer that you want to accept and how much additional earnest money you want if they decide to remove the contingency and not make the contract subject to selling their house.  The buyer will want the amount of days long and the amount of earnest money a small number.  You will want the days short and the money large.  Typically the am…

Market Statistic Comparison 2012-2013 for Amarillo Texas

Pink House Team

Take a look at these statistics.  Our real estate market in Amarillo is up 28.8% for sold listings over the same time period in 2012.  Last month 236 houses went under contract.  What a great time to sell!

Market Statistics for October 2013 Comparisons

Complete the form and let us put you in the sold column!

Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121

Chicken Or Egg?

Pink House Team
As with anything in life, when you are ready to sell your home you have to have a plan.  Most people don't wake up one morning and say, "I'm selling my house today", then immediately put it on the market.  Of course, there are people that do that but not the majority. A plan must include several elements from the beginning (deciding to sell) to the end (having your house sold). There are many things to take into consideration.   PHASE ONE Why sell and why sell now?  There are hundreds of different reasons why you might  want to sell your house.  It can range anywhere from down-sizing, up-sizing, different location or school district or maybe just to get out of a big mortgage.  It is never time to sell if you are just thinking about it.  Selling a house is an event and can only be accomplished if you REALLY want to sell.   Deciding what to do next.  Once you have made the decision to sell you must consider as part of your plan what you are going to do ne…