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Showing posts from April, 2016

I Can Show You How To Flip A House [806-290-1920]

Pamela Madore Keller Williams
My credentials?  I have done both .  There is a wide range of money you can make.  Just like any other goals in your life,  set a goal.
Let's first describe what "flipping" a house is.  There is really one word (flipping) that is used interchangeably for two kinds of flipping.

Flipping #1
This can also be called "selling a contract".
Here it is how it is done.  You find a house.  There are many, many ways to find houses.  FSBO houses,  ask people, knock on doors, find old empty houses and a myriad of other ways.  These will generally be  "distressed" sales.  In other words, the seller must be in a position to have to sell the house and is willing to discount the sale.
Next you must determine what the house is going to be worth to your buyer.  Most times these houses will be in some sort of disarray.  That means that the normal buyer won't be able to buy the property because it won't be financeable.  Your buyer is p…

Are Foreclosures A Good Deal [Be Careful] #5

Pamela Madore Keller Williams Realty 806-290-1920
Are Foreclosures A Good Deal?

Many people think that a foreclosure is a great deal.  That may or may not be true.
Recently, there was a really good house in the Tradewinds.  My client and I overbid.  We were a cash buyer.  We got the bid and closed in 8 days.  Later I found out that there were 4 bids behind us.

When HUD puts a foreclosure up for sale they have several levels of timeframes that you can place your bid.  The first one is a lottery.  This one is for government agencies and other silly things.

The next level is for owner occupied bids.  I have seen this window of opportunity be 10 days or more.  During this time you can put in a bid but the bids won't be opened until after the opportunity ends.  To be clear, you could put in a bid the first day the property comes on the market but it will be 10 days or so before you know if you got the bid.
If no one gets their bid accepted during that time then it is open to the publi…

Sell Your Amarillo House Fast--{2015 over 2016}i

Pamela Madore Keller Williams Realty
A recent article written by Russell Anglin of the Amarillo Globe News has gathered statistics from different sources and has put together a pretty good summary of what is happening to houses that are selling and how that can also affect buyers.

Amarillo has 765 sales in the first quarter of 2016 which broke the 10 year record with the exclusion of 2008 when we had the housing boom.
The median house sale for 2015 to 2016 is up 6% from $141,750 to $150,000.  Median price is not the average price.  Median house sales is that the same amount of houses sold , in 2015 below  $141,750 and the same above $141,750.  In 2016 the number was $150,000/
What does that mean to you as a seller?  Priced right your house will sell very quickly.  If you are looking for a bigger house in a high price range that also works because the interest rates are so low that you can buy a bigger house with the same payment.
For buyers, because of low interest rates and program…

1824 S. Milam, Amarillo TX {79109} New Listing By The Pamela Madore Group

Pamela Madore
Keller Williams Realty

1824 S. Milam, Amarillo TX  {79109}  New Listing By The Pamela Madore Group

This is a great starter house.  The difference is that most starter houses require work.  This house on 1824 Milam is turn-key.  Bring your tooth brush. :-)

This is how the seller tells us about the new things she lovingly did to the house: 

"Newly remodeled, all new plumbing, electrical, wall insulation, doors, tile throughout, jacuzzi tub, A/C unit, water heater, water softener, water filtration, restored hardwood floors, newer appliances, roof and paint."

Is there anything to add?  Both bedrooms  have built-ins for closets, desk, and shelves.  The bathroom is to die for.  The tub and surround has new tastefully decorated tile that you will love.

As a bonus there is a one car oversized detached garage that houses the water softner and water filtration system.  

Pictures are worth a thousand words.  Take a look at this amazing kitchen with tons of extras.


How To Buy A Money Pit [Did you see the movie]

Pamela Madore Keller Williams Realty 806-290-1920
Did you see the movie? 

 Funny Scene from the movie "The Money Pit"
The story line goes something like this.  Young lovers Walter (Tom Hanks) and Anna (Shelley Long) get thrown out of their apartment and decide to buy a country estate.  It was at a very good price and the potential was enormous.  
It just sounded too good to be true and of course it was.  
After they bought it, doors started to fall off their hinges, the staircase falls in and a bathtub falls through the floor. Naturally, city slickers that they are, they hire all the wrong people to do the repairs and the whole deal turns into a nightmare.

The best way to buy a money pit is to:
Watch for suspiciously low priced housesTake a quick look so you can buy it before anyone else doesDon't bother to look at the seller's disclosureDo not have inspectionsDon't notice the seller's smirk at closing
At this point you probably don't know you have a money pit.    …

8 or 9 Random Thoughts. Beat that.

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

There is nothing any harder than trying to write creatively when your brain seems to be on vacation.  Fortunately, I am a Realtor and Realtors like bright, shiny things sometimes referred to as squirrels.  Because of that there are millions of things that randomly happen around you that you can write about.

Here are a few of my thoughts this week.

In Amarillo, we are right on I-40 east to west.  Why wouldn't that be west to east?  (You probably already knew that.)  One of the streets that has an overpass is Bell. (Knew that, too?).  Very often there is a motorcycle police on the overpass with raider and another one hiding down below.  Countless tickets have been given there.

As I was driving on  I-40 going beneath the underpass (If you are on top it is an overpass?  And if you below it is an underpass?)  I wondered how policemen  decide  how they chose to go to that particular spot.Is it just a random assignment.  "He…

On A Scale Of 1 To 10 How Difficult Is It To Buy A House 2016

Pamela Madore The Pamela Madore Group Keller Williams Realty

On A Scale Of One To Ten How Difficult Is It To Buy A House?

Yesterday I was having a conversation with this guy about houses.  And he said to me that it is really hard now to buy a house.  It is hard to get qualified and you need lots of money.  And he believed it.
There are a lot of misconceptions floating around about the difficulty of buying a house.  We hear lots of talk about credit scores.  As a matter of fact that is the #1 talked about subject.  What are your credit scores?

You may be surprised to know that you don't have to have perfect credit to buy a house.  If you have never paid anything on time in your entire life, you might have a problem.  We have all had circumstances and issues that may have affected our credit scores.  Credit scores constantly fluctuate.

FHA is probably the most popular financing program at the moment.  Their guidelines will let you have as low as 580 in credit scores…