Friday, January 31, 2014

Remember This If You Are Buying Or Selling Your Amarillo Home

Pink House Team
Keller Williams Realty
806-340-7630

CLARITY WHEN BUYING AN AMARILLO HOME

"I didn't think it would be this hard".  That is what my buyer said today as we were looking at houses in Amarillo.  True, he wanted a specific thing at a specific price and that combination is hard to come by.  I blame myself, though, for the statement.  I didn't set expectations.

Setting expectations when you are selling your house or if you are buying a house is an important part of the process.  Setting expectations and being realistic are really two different things.



If you have a 2000 sq ft house that was built in the '60's and has had no updates and you want $500,000 for it, at least here in Amarillo, is unrealistic. If you are a buyer and you want a 5000 sq ft house with $5000 down and a payment of $600, that is also unrealistic.

On the other hand, setting expectations would be more along the lines of explaining the limited amount of houses that meet your criteria and the importance of making a decision quickly.  Setting a seller expectation might be explaining that if we have no showings in the first 10 days, or more than 3 showings and no offers, we need to lower the price.

Unfortunately, I sometimes forget that my seller or my buyer doesn't have a good of understanding of how this whole process works and if i don't set expectations, there could be disappointment, confusion, and frustration.

Whether you are selling your Amarillo house or buying an Amarillo house, you need expectations set.

I pledge to do a better job!


Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://myamarillohomes.com

Thursday, January 30, 2014

Call Us To See Any Listings In Amarillo

Pink House Team
Keller Williams Realty
806-340-7630


SHOW YOUR AMARILLO HOUSE

Even though it may not have a Pink House Team at Keller Williams Realty sign in the yard, I can still show you the house!!

Many times buyers think that in order to see a particular house they must contact the agent whose contact information is on the sign.  That causes confusion because the buyer has called 5 agents and 5 agents think they are working with the buyer.

One of the great things about the Multiple Listing Service is that it provides a place for all of us to share our listings.  What that means to buyers is that no matter whose sign is in the yard, I can show it to you.  Why waste time going from Realtor to Realtor when you can be represented by one Realtor who spends time with you to really find out what you are looking for?




The Pink House Team at Keller Williams Realty is happy that you called on our sign.  And we would be happy to show you our listings and anyone else's too!

Call today to schedule a showing.


Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://myamarillohomes.com

Wednesday, January 29, 2014

Price Reduced On 2020 S. Milam in Wolflin In Amarillo Texas!

Pink House Team
Keller Williams Realty
806-340-7630


2020 S Milam, Amarillo TX

You won't be disappointed in this great house that has just been reduced by $7,000!  A  brick house that has 3 bedrooms and 1.5 baths with a 2 car garage.  It has hardwood floors throughout and is located in a convenient location to shopping and Starbucks.




Located in Wolflin. Text PINK3 to 88000 for more information.


Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://pinkhouseteam.com







Tuesday, January 28, 2014

Living In Hillside Terrace In Amarillo Texas

Pink House Team
Keller Williams Realty
806-340-7630

HILLSIDE TERRACE IN AMARILLO

One of the things many people look at when buying a house is the schools available.  Hillside Elementary School in Hillside Terrace has 5 stars on GreatSchools.com.  The school serves K-4 and presently has 328 students.  The school is less than 10 years old and has state-of-the-art equipment.  It is a part of Canyon ISD.


Buyers also consider  the age of the house.  It is like the difference between buying a new or newer car or an old car.  There is a pretty good chance that with a newer car there aren't going to be any major repair.  The same holds true for a house.  That is not to say that something won't go wrong, but the chances are less than if you buy old.  The first houses in Hillside Terrace were built in 2006.  For people that want a low maintenance house, newer is better.


If you are looking for a newer but established neighborhood convenient to shopping, houses of worship and schools, consider Hillside Terrace in Amarillo.





Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
http://myamarillohomes.com
806-340-7630













Monday, January 27, 2014

How We Market To Sell Your Amarillo Home

Pink House Team
Keller Williams Realty
806-340-7630


MARKETING IS THE #1 THING ON OUR MIND


This will be your personal home information.  Text it now to see how it works.





 Here is only part of our marketing plan.

Target active buyers and investors in our database who are looking for homes in your price range and area.
Provide you with weekly updates detailing our marketing efforts, including comments from the prospective buyers and agents who have visited your home.
An automated email system informing you of comments made by other agents after each showing.
Feature your home in a press release.
Your home will be the subject of a blog every 30 days.
Agressive Facebook, Twitter, Google+ Marketing
Your home will be featured on 10 local classified ads.
You will be able to go to our website, put in your MLS # and find out who and how many buyers have looked at your property.
You will have your own property website
Target active buyers and investors in our database who are looking for homes in your price range and area.

Provide you with weekly updates detailing our marketing efforts, including comments from the prospective buyers and agents who have visited your home.


An automated email system informing you of comments made by other agents after each showing.


Feature your home in a press release.


Your home will be the subject of a blog every 10 days.


Aggressive Facebook, Twitter, Google+ Marketing


Your home will be featured on 10 local classified ads.


You will be able to go to our website, put in your MLS # and find out who and how many buyers have looked at your property.


You will have your own property website

Appropriate Signage


Drive by Text Information

Use of Keller Williams Syndicated Worldwide Marketing Plan



WE WILL CREATE A MARKETING PLAN SPECIFICALLY FOR YOU.  

Contact us today for how our plan will work for you!

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
http://myamarillohomes.com
806-340-7630





Sunday, January 26, 2014

Hillside Terrace Market Statistics Amarillo Texas 2012 Over 2013


Pink House Team
Keller Williams Realty
806-340-7630


HILLSIDE TERRACE MARKET STATISTICS
SOLD PROPERTIES


Good news if you live in Hillside Terrace and are thinking of selling your home! The median home value in 2013 is up 8.5% over 2012.  The average sales price is up over $10,000 year to year comparison.

Whenever you have a new development that has ongoing new construction it takes several years before your resales can be sold without a loss.  It seems that Hillside Terrace is in that position right now.  According to Multiple Listing Service statistics, 72 new construction homes sold in 2012.  In 2013 the new construction sales were down to 39. The great news is that the amount of resales is up 74% year over year.

If you have considered selling your Hillside Terrace home in Amarillo, now is the time to put it on the market.

Contact the Pink House Team to get the sign in the yard!

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://myamarillohomes.com


Saturday, January 25, 2014

Who Will Know That My Amarillo House Is For Sale?

Pink House Team
Keller Williams Realty 
806-340-7630

MARKETING YOUR AMARILLO HOUSE FOR SALE

Everyone!  That is our goal at the Pink House Team.  The more people that know your house is for sale, the faster we will find the buyer that has been just waiting to find the perfect house!  Proper Marketing is the key.

According to the National Association Of Realtors, 90%+ home buyers search online for houses sometime during the home buying process.  Nine out of 10 buyers will see your house for sale during their search IF your house is prominently displayed online.  Searching for "Amarillo Houses For Sale" is a little too broad to make sure your house shows up in a buyer's search, although it needs to show up there, too.  


This morning I had a seller call me that isn't satisfied with their Realtor because they don't think the marketing is as good as it should be.  My Marketing plan for 2014 has expanded.  During the same period of time that this seller's house was listed, I tracked a listing that I have specifically planned in my new Marketing plan.  My listing is takes up 3.5 pages of google search when I put the address in the search bar.  Just out of curiosity, I put the address of the other seller's house in the search bar and it showed up as a top choice of page one and a scattering on page two.  

I also searched for a longer search keyword, "homes for sale in ________ Amarillo, TX" and the agent that had it listed showed up on page 3 of google.  

It is true that most people never go past page one on google when searching, therefore, it is critical that we fight with all the "google juice" available to be sure that your house always shows up as every link on page one.  Leave the consumer no other choices because we know that they aren't going past page one.

How do we accomplish this?  Information, training, and persistence are the key.  It is important to understand SEO and how to increase the probability of how to get you to the top.  As an experiment, google "Pink House Team Amarillo Texas" and you will see that we have successfully dominated through page 5.  If you look carefully, you will see Pink House Team shows up from many different search pages.  And you will also see that the listing that I have been tracking is number 6.


Buyers always determine the price they are willing to pay.  But how do we know what that price is if they never even know your house is for sale.  Let us Market your Amarillo home!

Contact me today for details on how I can make your house #1 on google.

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://myamarillohomes.com


Friday, January 24, 2014

Here Are Some Owner Finance Properties For Sale In Amarillo

Pink House Team
Keller Williams Realty
806-340-7630












Terms vary from property to property.  Contact me for details and to check for availability.

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://pinkhouseteam.com










Thursday, January 23, 2014

If I Put My House Up For Sale Today, When Will It Sell?

Pink House Team
Keller Williams Realty
806-340-7630


WHEN WILL MY AMARILLO HOUSE SELL?

There is no one answer to that question.  There are many things to take into consideration but one of the things that can point us to how long it may take, is to look at market statistics.  In this case we are looking at a Residential Inventory And Sales  Report for Potter and Randall Counties through 12/31/2013.


If you look at the overall chart, you can see that we have only 4.2 months of inventory at the moment. A balanced market is generally considered to be 6 months of inventory.  Above that it is a "buyer's market" and below that we are a "seller's market".  You can, however, see that not all price ranges are considered a seller's market at this time.  Take, for instance, houses priced between $300,000 and $349,999.  There are currently 8.4 months of inventory. There are 59 houses for sale and only 7 a month selling.

Many say that we are in a seller's market and in many price ranges we are. We are getting multiple offers on the really good, priced right houses.  That isn't happening in all price ranges, however.



(As an aside--If your house is priced at $349,999 and $350,000 only have 4.7 months of inventory, should you raise the price $1?)

If you are in the price ranges that have lots of houses for sale, it is even more important that you make your house stand out.  This is when we start talking about things like curb appeal, pre-packing, and neutral colors.  As always, however, price is the determining factor.  You may be able to get on the high end of the market price is your house really stands out as something special attracting more buyers.  

Those 59 houses will all eventually sell.  Where do you want to be in the mix? Do you want your house to be the last house to sell?  Or the first house?

For more information and a free market analysis, contact me.

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://myamarillohomes.com




Owner Will Finance This Amarillo Home

Pink House Team
Keller Williams Realty
806-340-7630




Want a Spanish flair!  This is it.  A cute 2/1 home near 6th Street in Amarillo.  
Waiting for a new family to love!

Owner will finance with $4000 down.  Approximate payment of $500 a month.


Pamela Madore
Pink House Team
Keller Williams Realty
7304 Sw 34th
Amarillo, TX 79121
806-340-7630
http://pinkhouseteam.com
owner/agent

Wednesday, January 22, 2014

Owner Financing VS Rent-To-Own

Pink House Team
Keller Williams Realty
806-340-7630


OWNER FINANCING

This is the time of year that income tax refunds are about to start arriving.  Many people would like to buy a house but can't qualify for the stricter  bank financing.  Owner financing is then a very viable option.  There is a lot of confusion about how this works.  Let me explain.

Owner financing, also known as seller financing is very different from a rent-to-own or a lease-option.  Even though you will see advertising that says owner financing beware of the true intent.  


RENT-TO-OWN

If you are involved in a rent-to-own what that really means is that you are a tenant but have all of the responsibility of a homeowner.  Typically you give the owner a few thousand dollars up front and then pay a monthly amount some of which should go toward the price of the house.  It is not until you have paid the house off entirely that you get the deed.  You don't own it until you get the deed.  Therefore, many things can happen.

Here is an example of a rent-to-own gone bad.  A lady "bought" a house and made payments for 17 years to the owner.  The owner died.  The kids of the owner decided to step in because they wanted the house.  They evicted the lady because, remember, she is nothing more than a tenant.  There was nothing she could do.  She didn't own the house.

A lease-option is much the same.  You give the owner money (option fee) up front for the right to buy the house at the end of the lease.  So again until you get the deed you are nothing more than a tenant.

A true owner financing is when you have a down payment and then you make monthly payments to the owner that include the principle, interest and sometimes the taxes and insurance in the payment.  The big difference is that you get the deed at closing.  You own the house.  The only way you can ever lose the house is if you stop making payments and the seller forecloses.  This is a legal proceeding that ends up giving the deed back to the seller.  It is much more complicated that an eviction.  That could be why some owners prefer to do the rent-to-own scenario.


UP-FRONT CASH

One of the appealing things to people that really don't know the risks, is that rent-to-owns usually require less up-front cash than an owner finance.  The reason, of course, is because the seller can do a simple eviction to get you out so the risk to them is minimal.  On the other hand, if you get the deed the risk is much greater to the owner, therefore, they require more down payment.  In addition, on a rent-to-own there are no closing costs because you don't "close".  

At the Pink House Team we only do true owner financing.  It is my opinion that I would not be representing my clients to the best of my ability if I allowed them to put themselves and their money in jeopardy.

Please contact me for more details on the procedure and for an estimate of down payment and closing costs for a house that would fit your needs!


Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://pinkhouseteam.com






Tuesday, January 21, 2014

Can I Afford That House?

Pink House Team
Keller Williams Realty
806-340-7630

BUYING YOUR AMARILLO HOUSE TO FIT YOUR BUDGET

In my years of doing both Mortgages and Real Estate, I have found that most people know what they qualify for.  Not really know but when I ask what they want their payment to be it often lines up with what they do qualify for.

So how do you calculate what you do qualify for?  How do you keep it in your budget?

INCOME
/
Only verifiable, ongoing income can be used in your qualification.  That means that unemployment, cash, or student loan housing doesn't count.  You can count child support, if you want to, and disability income if you have it.  Verifiable income is from W-2s and paystubs.  It is important that you have been either at the same job or in the same line of work for 2 years.  The income that is used is gross income before taxes, unless you are self-employed then you use net income ( a whole different conversation).

Let's a round figure of $5000 a month.                                         %%?

DEBTS

Payments that show up on your credit report will be counted as your debt.  New guidelines also count outstanding collections (not medical) over $2000.  So, for instance, if you have outstanding collections of $3000,  5% monthly payment would be counted as a debt in this case $150.

Let's use a car payment of $400, collection repayment of $150, and a credit card for $150 a month for a total of $700 a month in debt.

The ratios allowed are, for instance, 29/43.  Those are strict FHA guidelines.  There is some flexibility.  So what do ratios mean?

The first number of 29% means that you can use up to 29% of your gross income as your housing debt.  That includes the principal and interest on the loan, taxes, insurance and mortgage insurance.  In our example that would be $1450.  According to mortgage qualification, you can afford $1450 for a house payment.

Now we need to add in the debts.  The 43% means that you can use 43% of your gross income for your house payment and debts combined.  In this case the calculation would be as follows.

$5000 x 43% = $2150
$2150 - $700 (debts) = $1450

Based on the amount of debts you have enough income to cover your debts and your mortgage payment.

Keep in mind that the numbers pretty much never come out even but this was only for an example.

Sound complicated?  It is.  That is why you should always consult a qualified Licensed Mortgage Originator to do the calculation for you.  I hope you will have compassion on Mortgage Originators now that you see how complicated this can be!

Check out our Featured Partners for more information.

Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-340-7630
http://pinkhouseteam.com





Monday, January 20, 2014

Search For Homes In Amarillo And All Over The US And Win $50,000

Pink House Team
Keller Williams Realty
806-340-7630


SEARCH FOR HOUSES ALL OVER THE US AND WIN $50,000






What a great day to win $50,000 as a down payment on your new house!  Go to the app store, download "Keller Williams Mobile App", enter my code KW6OLNJ1, text/email from the app so I know you are entered, and plan on winning!  



A side benefit is the awesome interactive mobile app to search for properties in Amarillo, TX but  all over the US, too!   Not only Keller listings but ALL the listings.  Pictures included.  Take advantage of it today!



Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
http://myamarillohomes.com
806-340-7630

Sunday, January 19, 2014

Northeast Amarillo Home For Sale

Pink House Team
Keller Williams Realty
806-290-1920


4210 15TH AVE NE 
Amarillo, TX 79107













www.myamarillohomes.com 


IMPORTANT DISCLOSURE: Although this property was available at the time of this ad creation, it is probable that an offer has been submitted on this house. This ad was created with the intent to sell THIS property. If you are interested in this property, PLEASE CALL 806-340-7630 to check for it's availability.

CALL 806-340-7630


Saturday, January 18, 2014

Hillside Terrace Home For Sale In Amarillo Texas

Pink House Team
Keller Williams Realty
806-340-7630


7108 Beeson
Amarillo,  TX 79119














www.myamarillohomes.com

IMPORTANT DISCLOSURE:  Although this property was available at the time of this ad, it is probable that is has had an offer submitted on it.  This ad was the purpose of selling THIS house.  Call 806-340-7630 to check for availability and showing.


CALL TODAY 806-340-7630





Friday, January 17, 2014

Pretty Sunset/Westlawn House For Sale In Amarillo

Pink House Team
Keller Williams Realty
806-340-7630


1013 S. Carolina
Amarillo, TX 79106




IMPORTANT DISCLOSURE:  At the time of the creation of this ad, this house was available.  It is probable that an offer has been submitted on the property.  This ad was created to sell THIS house. Call 806-340-7630 to check for availability and showing.

CALL 806-340-7043

Thursday, January 16, 2014

Sunset/Westlawn Home For Sale In Amarillo Texas

Pamela Madore
Pink House Team
Keller Williams Realty
806-290-1920

See More Listings in Sunset/Westlawn

Listing Details
Home For Sale In Sunset/Westlawn

1013 S. Carolina
Amarillo, TX 79106
Price: $78,000
Bedrooms: 2
Bathrooms: 1
Garage: 2 car
Sq. Ft: 1064

Call Pam at the Pink House Team 806-290-1920 to see if it is still available and to schedule a showing.

Great Home In A Great Area

You will love this starter home on a quiet dead-end street.  It has beautiful hardwood floors, a huge kitchen, and separate laundry area.  Stay cool and be warm with central heat and air.  

The current owners say they fell in love with the house because of the big kitchen and a safe street for their children.

For more pictures of 1013 S. Carolina in Sunset/Westlawn click here

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://myamarillohomes.com








Wednesday, January 15, 2014

I Want To Set My Own Hours, Come And Go As I Please. And Make Tons Of Money. I Am Going To Be A Realtor

Pink House Team
Keller Williams Realty
806-290-1920

According to the National Association of Realtors, the average real estate agent sells 12 houses a year. There is a pretty good chance that those Realtors came in with the "I Want To Set My Own Hours, Come And Go As I Please. And Make Tons Of Money.  I Am Going To Be A Realtor" attitude.
-
I know someone that "snickers".  I am inserting a snicker here.  That is my reaction to people that believe the big bucks come that easily.  Of course, if you live in a market of multi-million dollar houses, selling 12 a year might be enough.  I will guarantee, though, that an agent who does that works their business.

There is a big difference  between "setting my own hours" and "setting my own schedule".  The agents that set their own schedules can then set their own hours, not the other way around.  Realtors can come and go as they please.  That works as long as you "come" to work and "go" when it is done.  The truth be known, most Realtors would fire themselves if they considered themselves their "boss".

It is very possible to make big bucks as a Realtor.  You have to be willing to work. You have to be willing to follow a repeatable system, being learning based, and work at an outstanding company!

If you are serious about being a Realtor, we are always looking for a few talented people.

Call me for information!

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://searchingfortalent.com





Tuesday, January 14, 2014

Hillside Terrace Home For Sale In Amarillo Texas

Pamela Madore
Pink House Team
Keller Williams Realty
806-290-1920

Search current inventory of homes in Hillside Terrace in Amarillo.

Listing Details
Home for sale in Hillside Terrace

7108 Beeson, Amarillo, TX 79119
Price: $165,500
Bedrooms: 3
Bathrooms: 2
Square Footage:  1635
Year Built 2011

Call Pam from the Pink House Team at 806-290-1920 to see if this property is still available and to schedule a showing.

You Will Love This Nearly New House On a Quiet Street

Hillside Terrace is a newer development in southwest Amarillo.  The houses are brick have been built with curb appeal in mind.  The neighborhood is well-maintained and a fabulous place to call home.

7108 Beeson

This house was built in 2011 and is one of the larger houses in Hillside Terrace.  It features a large open living area with detailed arch-work, crown molding, and recessed lighting.

The kitchen has great cabinet space. It has granite counter tops and an island for additional counter space.  The kitchen and dining area has beautiful stamped stained concrete.



The master bathroom has granite with double sinks and a large soaking tub and separate shower. There is a huge walk-in closet for the master bedroom.

All of the bedrooms are large with carpeting.  The split plan is great for privacy.

All of this is topped off with a great sized fenced back yard.  Nearly new in Hillside Terrace!


See additional pictures of 7108 Beeson

Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://myamarillohomes.com







Monday, January 13, 2014

Seller Closing Costs When Selling Your Amarillo Home

Pamela Madore
Pink House Team
Keller Williams Realty

When you are ready to sell your home some of the items that you will want to be aware of to include in your calculation of costs are your closing costs.

Here are some typical seller closing costs.

  • Title Policy for new buyer
  • Closing fee
  • Recording fees
  • Survey
  • Home Warranty for Buyer

The cost of the Title Policy that you provide insuring clear title of the property is based on the sales price.  This amount is promulgated in Texas which means that every title company has to charge the same amount.  As an example, if you are selling your house for $100,000 the premium would be $875; $200,000 is $1429; $300,000 is $1983, etc.  There is no need to price shop this cost.



The title company also charges a "closing fee",  This is generally split between the buyer and the seller.  A typical closing fee would be $350. You as seller would be responsible for $175 of it.  This fee is for them to prepare the closing statement, all of the paperwork involved and do the actual closing.

Recording fees are charged by the county by the page,  In Randall County the cost is $16 for the 1st page and $4 for each page thereafter.  You will have fees to record the satisfaction of your mortgage.

When you bought your house you probably had a survey of the property.  That survey can be re-used as long as you have not changed anything.  Changes can include things like a garage, a new concrete driveway or a pool.  Your survey would need to have the original seal in order to be re-used.  

Most buyers will ask for a home warranty.  This is something that will protect the major things in the house for the first year.   The warranty company would repair the item or replace it up to the limits of the policy.  It is often a good idea as a seller to put "seller's coverage" on the property as soon as you list it for sale. Through some warranty companies this is free and will transfer directly to the buyer.  In the event that the inspector finds any items that need to be fixed the warranty may take care of it.  

You may have other things to negotiate.  One of them maybe to help the buyers with closing costs.  After inspections there may be repairs that the buyer wants taken care of.  These are negotiable items.

When you want to sell your home, I would be happy to prepare for you a "seller's net sheet" so that you will know how much you will walk away from the closing table with.

Call today!

Pamela Madore
Pink House Team
Keller Williams realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
htt://myamarillohomes.com





Sunday, January 12, 2014

Dark Paneling, Popcorn And Green Bathtubs

Pamela Madore
Pink House Team
Keller Williams Realty
806-290-1920

Welcome to the 60's and 70's.  There were also pink, gold, blue, and I even saw a lavender bath tub.  Dark paneling was a style that seemed OK at the time.  What were they thinking?  Oh.  How about shag carpet?

Styles come and go.  Formica replaced by granite.  Hardwood floors replaced by carpet.  Smooth walls replaced by texture.  Popcorn ceilings? Sunken living rooms? The list goes on and on.  We always want change.

Common questions from buyers--"does it have granite" or "has it  been updated" or "does it have popcorn"?  These are legitimate questions and can affect the value of your house immensely.  In some cases, buyers won't even look at the house even though it is right in every other way.


Does your house have that 60's or 70's look?  If it does, buyers will want to get it at a discount because in their minds, even though it is functional without granite, they think it needs tons of work.

So, as a seller, what do you do?  What items will get you your return on investment?  You can't make an old house new but there are some things that you can do cost effectively  to change the appearance.

Women buy houses because of bathrooms and kitchens.  The style now is an open floor plan but if you don't have an open floor plan there are some other things you can do.  One of those is to improve the lighting.  My suggestion would be to make it seems like you need sunglasses.

You will seriously need to look at your counter-tops.  If you have beat-up Formica you will need to put pencil to paper and see how much it would cost to replace them.  A new sink is a reasonably inexpensive item that can change the whole look of your counter space.

If your bathroom has colored sinks, tub and toilet, you will really need to look at replacing them. The bathtub is the most expensive item but there are buyers who would not even consider buying a house because it has a green bath tub.  Weigh the cost against discounting your house.

Paneling.  Now that is a subject for discussion.  I have seen paneling wallpapered over, painted, mirrored and textured over.  None of those things are great fixes because they look like they have been wallpapered, painted, mirrored, or textured.  The only real thing you can do with dark paneling is remove it.  If that is not feasible, improve the lighting in the rooms.  Be sure that your window treatments are open during showings to lighten the areas.

Popcorn.  Rates right up there with paneling.  You should consider removing the popcorn from the main living area.  This is not as high a cost as removing the paneling and could perhaps be a balancing factor.

Put ceiling fans in each room.  That's another inexpensive "update" that buyers will notice.   A friend of mind that rehabs houses always puts a really nice fan in the living room and less expensive in the other areas of the house.  It makes a good first impression.

There are a number of other things that you can do.  I fresh coat of paint and clean carpets count for a lot.

One thing you absolutely MUST have is a really great front door!

Contact me today through my website for a guide to getting your house ready to sell.

Pamela Madore
Pink House Team
Keller Willams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://pinkhouseteam.com





Wednesday, January 8, 2014

Amarillo Home Values

Pamela Madore
Pink House Team
Keller Williams Realty
806-290-1920

Have you ever bought any stocks?  Let's say you bought a stock 2 years ago for $39 a share and today you want to sell the stock and  it is only worth $29 a share.  Does the Stock Market care that you paid $39 a share?  No.

The Real Estate Market is much the same.  Unfortunately, the price you paid for your house 2 years ago has no bearing on what the Market says it is worth today.

Buyers do not care about:

  • How much you paid for your house.
  • What you need
  • What you want
  • What your neighbor says 
  • What another agent says
  • What it costs to rebuild
  • How much money you put into the house
Buyers do care about:
  • Price
  • Location
  • Size
  • Condition
The Market is determined by what buyers want--not you as a seller or me as an agent.  

My job is to analyze the current market, what is for sale, what is under contract and what has sold.  Then I will compare that data to your house and come up with a price that seems to indicate what buyers would be willing to pay for your house.  

This is called a Comparative Market Analysis (CMA).  CMA's are part data and part "feel".  

This data changes daily.  What a buyer was willing to pay for your house yesterday may not be the same number today.  Look at a 2012-2013 price comparison.

Contact me through my website and I will send you the comprehensive 2013 market data report for Amarillo.


Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://pinkhouseteam.com







Tuesday, January 7, 2014

Is Owner Financing An Option For Me?

Pink House Team
Keller Williams Realty
806-290-1920

Owner financing, seller financing, or investor financing are viable ways for buyers to get into houses and a good way for sellers to make additional interest on their money.  There are some new laws associated with Dodd-Frank that will be in effect shortly that may make some changes to how we do these transactions.  
Here are some of the advantages for sellers:
  • Easier to sell
  • Less buyer closing costs so seller not asked to contribute                                   
  • Typically very little negotiating
  • Be able to receive higher interest on the money
  • Faster Closing
Disadvantages for sellers:
  • Collect payments
  • Manage Escrow Accounts
  • Provide year-end tax information
  • Possibility of having to foreclose
Here are some advantages for buyers.
  • Easier to qualify
  • Faster closing
  • Able to refinance without penalty
Disadvantages for buyers:
  • Fewer houses to choose from
  • Higher Interest Rates
It is important to know that when I talk about owner financing, I am NOT referring to rent-to-owns or lease-options.  I am talking about true owner financing where the buyer gets the deed at closing.

For more information, contact me.
Pamela Madore
Pink House Team @Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920