Thursday, January 29, 2015

Being A Great Realtor I Get The Best For My Clients--Never Had This Happen Before

Pamela Madore
The Pamela Madore Group
http://myamarillohomes.com

Being A Great Realtor I Get The Best For My Clients--Never Had This Happen Before
Zach and Jennifer Pantel

It was our anniversary.  My clients and mine I mean.  We had been looking at houses for one year.  It wasn't a jammed up quick look at houses thing but we got a comfortable relationship and would go look at houses here and there,

During the course of the year, they had some major family change circumstances that had in turn changed the criteria that they were looking for. We  never talk.  Text only.

Well yesterday there were a couple of houses that they wanted to see so off we went.  Unbelievably we found the perfect house in every way.  It had every single thing they could have dreamed of and it was priced was less than others we had looked at that weren't half as nice.

The house had only been on the market a few days so we jumped to make an offer.  Ours was the first offer and they acted on ours even though there was a line of "I'm bringing you an offer" from other Realtors.

We offered asking price ($119,900) with the seller paying $3500 in closing costs, a survey and a home warranty with a 30 day close.  We got a counter-offer.  They tightened up the option period a little from 10 days to 7 days and the same with the financing option.

The only other thing they countered was the price.  They countered at $118,000.  Huh?  That's right.  They countered at less than we offered.
You're In The Money

Apparently the seller had the property listed as a FSBO and somehow got an FHA appraisal.  FHA rules are that you can only get one appraisal per six months.  The appraisal came in at $118,000!

What a blessing for my buyer!  

Things like that just seem to follow me around........

Text me today 806-290-1920
The Pamela Madore Group
Keller Williams Realty
a= 7304 SW 34th
Amarillo, TX 79121




Everyone Wants Outside The City Limits with a Shop in Amarillo

Pamela Madore
The Pamela Madore Group
Pink House Team
806-290-1920
http://pinkhouseteam.com


Everyone Wants Outside The City Limits With A Shop in Amarillo

Well, not everyone.  The ones that do want to move there all seem to want the same thing--a 3 bedroom, 2 bath home with a garage/shop on an area. Agreed?
3001 Rocky Road

Look no further.  We have just that.  The house is a mobile that has been updated with all new double pane windows, remodeled master bath,  some new wiring, newer heat and air, new roof. Open floor plan.
3001 Rocky Road

In addition to the 3 bedrooms, there is an office that could be made into a 4th bedroom.  The double sided wood burning fireplace is in the living room and the office.  Great for those chilly nights and the smell of wood smoke.

The 24 x 24 shop or garage if you want to call it that, is less than 2 years old and has multi-circuit wiring so you can run a table saw, a grinder  and  a sander all at the same time without tripping a breaker.

The house is 1680 sq ft with a separate laundry, large bedrooms and plenty of room to roam.
3001 Rocky Road


Nearly all of the one acre is fenced with chain link fence.  The owner installed a gate between the house and garage that is big enough to drive a horse trailer or RV in.  He really just thought of everything.

Rumor has it that it will go FHA.  :-)

Let us know when you want to see it!


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







Monday, January 19, 2015

The Pamela Madore Group at Keller Williams Realty Welcomes Taylor English As A New Buyer's Agent

The Pamela Madore Group
http://myamarillohomes.com
806-290-1920

The Pamela Madore Group at Keller Williams Realty Welcomes Taylor English As A New Buyer's Agent

The Pamela Madore Group also know as the Pink House Team at Keller Williams Realty is expanding to meet all of their buyer and seller needs.  Officially a Team less than 2 years ago they now have Pamela Madore as Team Leader. Kala Holland as Administrative Assistant, Julie Sauls as a Buyer's Agent and now has added Taylor English as an additional Buyer's Agent.
Taylor English

The role of a Buyer's Agent is to only work with buyers.  In this increasingly complicated world, including the world of real estate, the single agent is finding it very difficult to keep up.  Each person on the Team has their own role and responsibilities and the result is a smooth transaction for our buyers and sellers.

"We are very excited to have Taylor join our Team", says Pamela Madore. "He brings a new freshness to what we are doing as a Team and brings that same freshness to his clients."
-
As The Pamela Madore Group continues to grown they will be hiring more people to fill the voids so that every buyer and seller has superior service.

"Our next hire will be a Transaction Coordinator.  Poor Kala is having trouble keeping up in the role of Administrative Assistant and acting Transaction Coordinator.  She will need help soon", continues Madore.

As a part of the largest Real Estate Company internationally with more than 100,000 agents, Keller Williams has resources to assure that their agents and team members have the latest and best technology.   "We are constantly looking for new agents," says Madore. "Call me."

-or more information contact Pamela Madore at 806-290-1920 or call Taylor English directly at 806-570-3300


Sunday, January 11, 2015

FIVE GREAT TIPS ON HOW TO MAKE A PROFIT FLIPPING A HOUSE

Pamela Madore
The Pamela Madore Group
806-290-1920
http://myamarillohomes.com


FIVE GREAT TIPS ON HOW TO MAKE A PROFIT FLIPPING A HOUSE


Net Profit In Cash
You can go to seminars and buy all the books but the best way to learn to flip a house is to just do it.  It may also be the most costly.  I know someone that lost $70,000 on his first flip.  I made $100,000 on my first flip.  Correct information is key.

WHY DO YOU WANT TO FLIP A HOUSE?

Just like anything else in this world, it takes hard work to go through this process.  If you are thinking easy money, get rich quick and easy then you may as well take up crocheting. Flipping a house is not for the faint of heart.

On the other hand it can be exhilarating and a real high. If you love to solve problems this is definitely something that you would love!  

WHAT IS YOUR BUDGET

Are you paying cash?  Do you need financing?  How much cash do you have to spend on repairs?  If you have the cash and deep pockets then you may just be doing this as a hobby.  If you count pennies like most of us do, you need to determine how much cash you have to put into the project.  That will determine what price range you will be in.  



Your Big Why

ARE YOU THE GENERAL CONTRACTOR (GC)  OR THE GOPHER?

When I built my first house years ago, my father did most everything.  But I was called the GC (General Contractor) because it was my house and I knew what I wanted.  I was also the gopher.  It was me who went to the Home Depot style store (Home Depots weren't born then)to pick up supplies and grab the beer on the way back.


My father told me from the beginning that there was one thing he would not do. He would not mud the Sheetrock seams.  So he showed me how and I did the entire house.
The Boss And The Beer


So what is your job title going to be? You must decide this first so you will have your plan in order.  If you are going to do the work yourself ask yourself if you have the time?  Are you already working a full-time job.  

Remember, too, that your uncle the plumber and brother the roofer may not actually show up. Contingency plan.  Every day that goes by is costing you money--taking away from the bottom line net profit.

THE MAGIC FORMULA

As a Realtor, I get emails from other Realtors with  headings like "great investment" property" "perfect for a investor" and those sort of things.  I always like to look at the details and then just shake my head.  There is a specific formula that you use to determine what is a good investment..  It isn't rocket science but it isn't exact either.  
It Can  Sure Feel This Way

These are the things you must know:


  1. After Repair Value (ARV).  You will need a Realtor for this unless you have a real sharp handle on the market.
  2. Net profit--this is the number that you want to take home
  3. Carrying costs--every day you own the house it costs you money--mortgage payments, taxes, insurance, utilities
  4. Cost to repair--this can be really hard to figure out. Do an item by item number.Don't forget permits and city inspections.  I always add in an "oops" category for things I missed or forgot about
  5. Marketing to sell--Realtor fees, closing costs, buyer closing cost help
  6. How much do you have to buy the house for?

That is the magic formula.  
Since I can be math challenged, let me use round numbers..

ARV  $100,000
Net Profit  $10,000
Carrying Costs $5000
Cost to repair $15,000
Marketing/closing costs $10,000
Oops--$2000

According to these numbers you need to buy the house for $58,000.  Do when you see a house that needs some work on it does not mean it is a good deal.

FIND A PROPERTY

I believe that this is the hardest part.  Unless you advertise or have a big name, you are going to have to do some research.  At the beginning you may want to find a Realtor that has done it before to help you.  :-)  Other ways to find houses are to ride through neighborhoods, find empty houses, and track down the seller to see if they want to sell.  You can know on FSBO doors.  Word of mouth. 

Many people think that foreclosures are good deals.  That is not always the case.  They don't always fit the formula. Click here to get a list of HUD foreclosures.




If you would like more information and a "sit down" I would be happy to sit with you and try to help you get started.






Pamela Madore
The Pamela Madore Group
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920






Sunday, January 4, 2015

5 Tips On Getting Your House Ready to Sell

The Pamela Madore Group
Pink House Team
806-290-1920

Contributors to this article are:


Diane Hunt Cartwright

Guadalupe Acuna
Cord Rhea 
Kristi Skelton
Trish and Mike Longoria
Jennifer Rebekah Nykole Powell


5 Tips On Getting Your House Ready To Sell



Staging   


If you are looking at a house for sale and decide to look at a vacant house you will need to have great imagination, something I don't always have. Usually you will walk through the front door into the living room.  Is it big?  Or small? Where does the TV go?  Will a sofa fit on that wall? And so forth through the entire house.

Staging in the placement of the bigger items in the house so a potential buyer does not have to use their imagination to see what it will look like lived in. Hang a few pictures and place pretty towels in the bathrooms, along with a new shower curtain even.  When someone walks into your house you want them to say "wow" not "cow"!  There is no doubt that if you stage a house it will sell faster and for more money.


Cleaning   


My idea of cleaning might be to rinse the toothpaste out of the sink when I am done brushing my teeth.  Your idea may be just the opposite.  Even though I don't typically see where my buyers are currently living, they are far and few between that want a dirty house.  And if it is dirty, they want a discount.

One of the first things I look at is the bathtub. I figure if the bathtub is clean and mold free the rest of the house must be, too.  



The depth of your cleaning can be compared to have your judgmental in-laws coming for the week-end.  You might know what I mean.  Make sure it is clean behind your refrigerator, stove, and washer and drier.  Please no cobwebs and if you have ceiling fans make sure the blades are clean.  I think it is better to smell like cleaning supplies than Scentsy.  (No offense to my many Scentsy friends).


Let me also throw in here, smell.  Pet smells, cooking smells, cigarette smoke, or moth balls are a big turn-off.  Especially cigarette smoke.  If you smoke, please have a professional company come and clean your duct system and clean all of your carpets.

De-clutter also known as pre-pack.
 


Go through your house and get rid of anything you don't use.  If you are a hoarder this may be a little more difficult so you might just want to rely of getting rid of everything by packing it.  If you have all 52 sets of salt and pepper shakers from all 52 States, please make them go away.  Your buyer doesn't care and if they do care they will spend time looking at Wisconsin or West Virginia instead of looking at your house.

In this area, less is more.  If you have more than 100 family photos on the walls and end tables and night stands and bathroom doors, please reduce that number to 1 or 2.  Remember we want them looking at your house not at your baby's first tooth or your grandmother sitting in a rocking chair in a black and while photo.  Oh, and don't forget to fill the nail holes.  Probably will require paint, too

  REPLACE BURNED OUT LIGHT BULBS.  Seriously?

Curb Appeal 

 This is huge.  I remember one time in particular I went to look at a house to list.  When I drove up I am thinking --cash offer of $20K. (I flip and rehab, too).  When I went inside the house was out of this world.  It had been completely remodeled with the good stuff.  I was stunned.  I asked her about the outside and she calmly said that if it looked bad on the outside no one would want to break in.  Point taken.

In Amarillo it can be a challenge to keep your yard looking nice because we have no rain.  If you have sprinklers then it is much easier to keep the grass looking nice.  

Whenever I visit where I grew up, I like to visit Steven King's house.  It was black but rumor has it that his wife made him paint it.  He still has the wrought iron black fence.  

If you have any gargoyles on your lawn, please remove them.  Any religious item that might confuse someone as to whether they are welcome to come in had better stay away.  While they are waiting while I am fidgeting trying to get the key out they are looking at your front door and everything around and above it.  Please no birds nests.  Be sure the door and frame is clean.  Maybe a professional paint job on the door.




This has happened to me more than once and I am sure to other Realtors, too.  We drive up to a house and the buyers won't even get out of the car to go into the house.  Curb appeal is huge.

Updating  

 This subject is a very tough one. There are some things that you can do that are inexpensive like paint, missing caulking around windows or doors, spray paint ceiling vents if rusted or just old looking.  They don't cost much to replace either. If your toilets are old and have that Amarillo water ring in them you can pumice them off or get a new toilet.  A new lid is cheap, too.  

We can think of tons of little things to do (go ahead and do them).  The big question becomes how much updating do you do?  Will you get your money back?  And do you have the money to do it with?

As long as you don't have some weird layout, kitchens and bathrooms sell houses.  I would suggest that you get an estimate on what updating would cost (sometimes it is really no more than new counter-tops) and then find a Realtor (hand raised) and let me see if I can help you decide if it is worth the money to do it.  

This is a National Chart and averages but as you can see you return on investment isn't really there. You could do some wise things, though, without a complete remodel.   Talk to a professional.




Well I think that is it.  Hopefully I didn't miss any suggestions of my contributors and I thank them very much for their help in putting this together!


Diane Hunt Cartwright

Guadalupe Acuna
Cord Rhea 
Kristi Skelton
Trish and Mike Longoria
Jennifer Rebekah Nykole Powell


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


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