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Showing posts from May, 2016

Where Do I Start? I Want To Buy A House.

Pamela Madore Keller Williams Realty 806-290-1920

Where Do I Start?  I Want To Buy A House.
I work with many first time home buyers and may buyers that haven't bought a house in many years.  From  the outside looking in, the process seems like a Monster In the Closet.  From the inside looking out at you, my client, I kill the monster.
There are two important ways to start.  The first is to have a conversation with me.  I come from a  mortgage and real estate background so I am going to be able to help you understand the mortgage process as well.  If we agree that you want to proceed, the next step is the qualification.
There are a few ways to do that, too.  You can walk in to a local bank or credit union and apply for a mortgage.  Or you can fill an application online with various places.  I will help you with that process.  You will need income paperwork and debt information and we can determine how much money you will need.
We have to know what you qualify for in order to find y…

Let's Talk About 3304 S Van Buren in Amarillo Texas

Pamela Madore
Keller Williams Realty

Everyone has different tastes in houses they love.  Some like brand new.  Some like mid 60' to 80's.  And then there is that special group that like older houses with character.

3304 S. Van Buren falls within the the latter category.  It is a tudor style house with all the character
of the 1920's houses.  This house needs love.

It has 3 bedrooms and 1 bath.  It has original hardwood floors throughout the house.  They would look much better is they were refinished.  The owner of the house now has an eclectic array of floor rugs that fit the character and style of the house.

As in all the 1920's houses the kitchen is small.  Very functional.  But small.

Our house has some special things, though.
Pamela Madore Keller Williams Realty 3955 S. Soncy Amarillo, TX 79119 806-290-1920

7 Things to Know If You Want To Flip a House

Pamela Madore Keller Williams Realty 806-290-1920
I have taken all the classes and I know all the right terms and I know the formula.  But until you really rehab a house the first time you will find that things don't always follow your script.
Here are a few things that I learned from rehabbing houses.
         House Flipping: A Big Gamble - ABC News
The market--value of houses--is a moving target.  A house that might sell for $100,000 retail today might sell for $90,000 by the time you have the rehab finished.  It might sell for $110,000, too. Since there are no crystal balls, this is a risk you always take.
When I walk into a house that needs to be rehabbed I first assume that nothing works.  Everything is broken.  From there you can start checking things and cross off the things that work from your list of things you counted as broken.
If you don't have experience in how much things cost, do your research.  Spend time at home depot and have people in every field you need, ele…

Here Is A Method That Is Helping High School and College Graduates Start A Business

Pamela Madore Keller Williams Realty 806-290-1920

This isn't a "get rich quick scheme" I want to tell you about.  It is a way, however, to start a business with less than $2000 and the ROI is exponential.  
When I was younger, much younger, I discovered a principal that was true then and continues to be true today.  The only way to really earn the money that you want to make is to build your own business instead of someone else's.
I college of mine says, Ben Todd says:
For a full time student it'd be about 3500 to 4000 for tuition and 150 to 300 for books at WT and 1700 to 2000 for tuition and 300 to 400 for books at AC.
Also college is getting more and more popular meaning that its monetary value is dropping rapidly. I could give a lecture on why it's deceptive to treat college like it's a good financial decision.
Back in the olden days, we trained for a job whether through college or on the job training, and we stayed on the job forever.  Maybe people stayed on…

How To Get A Real Estate License in {5} Easy Steps

Pamela Madore Keller Williams Realty 806-290-1920
Lots of people think that getting a real estate license is like brain surgery.  Trust me it is not.  If it was I would have a lot of dead clients.
First you have to have a license.  Just like you have to have a driver's license.  You learn how to drive a car.  But you don't learn how to rebuild a motor.
Same thing with a real estate license.  You do the classes and study to pass the test and get a license.  Then you have to rebuild a motor.  Fortunately for you, Keller Williams Realty has the training and resources to teach you how to get the job done.
But I get ahead of myself.  Let's get the license first.
In order to get a license you have to take 180 hours of classes.  They are all online.  Don't panic.  You do not have to burn your eyeballs out staring at the computer for 180 hours.  The school that we use doesn't have a "clock" on the classes.  You can do them as fast or as slow as you want.  Well,…

How Bad Can My Credit Be To Still Be Good Enough To Buy A House?

Pamela Madore Keller Williams Realty 806-290-1920

How Bad Can My Credit Be To Still Be Good Enough To Buy A House?

I get so many people say that they can't buy a house because their credit isn't very good.  Define "very good".
Credit Karma is not your answer.  Sometimes it is spot on and sometimes it is crazy wrong--about like depending on Zillow and their "Estimates".
A home loan depends on 3 credit scores: Experian, Equifax, and Transunion.  Two of the 3 scores must be above the minimum required scores for the lending institution that you are talking to.
All lenders are not created equal.  It is important that you have a great Realtor (pick me) to help you through this.  Too many people go to their bank and their bank says you need 640 scores to buy a house.  They get discouraged and forget about their dream of owning and not renting.  Don't listen to "no".  Just move on--after they tell you what your scores are.
Credit scores range for ho…

I Am Registered To Made a HUD Bid On Foreclosures For You {Good Deals}

Pamela Madore Keller Williams Realty 806-290-1920

I Am registered To Make A HUD Bid On A Foreclosure For You
HUD has it set up so that only Registered HUD Bidder can make a bid for you.
HUD houses are FHA foreclosures.  They are not bank owned.  They are owned by the department of Housing and Urban Development

The process is really quite simple. We find a house that we like and we "bid" on it.  That isn't really the same as if you "bid" at an auction although your offer may be in competition with others so I suppose that is why they call it a "bid".

I submit your bid for you, which is simply an online bid information I do for you. You can bid as high or as low as you want.  You can ask HUD to pay up to 3% of your closing costs.  They do not pay any of typical seller closing costs so you can expect higher closing costs than usual. 

HUD does an inspection sort of.  They apply pressure to water and sewer, see if the electric works, how the roof looks and whether…

I Am Looking For High School or College Grads That Want To Become Real Estate Agents

Pamela Madore Keller Williams Realty 806-290-1920
School is out or almost out.  It is now decision time.  For high school grads your decision is whether to go to college, learn a trade, or just get a job.  For college grads it is a time of trying to find a job that you love and pays enough to live on.

I would like to suggest an alternative thought.  Have you ever thought about being a real estate agent and build a career for yourself rather than build it for someone else?

It doesn't matter what  your major is, there is always a way to use the skills you learned in high school or college and transfer those skills into building a real estate business.
I had a conversation with some college grads. In the conversation I asked what were their long term goals.  Each one had the same answer--to start my own business.
Is that your long term goal?  If it is what you are thinking then why not start your long term goal today?  Why wait?
At Keller Williams "being a…

I Will Stand With You To The Very End {Houses}

Pamela Madore Keller Williams Realty 806-290-1920

The transaction was a mess.  Everything that you could think of and some things that you have never even  heard of went wrong.  Even after closing there were problems as soon as the  next day.  Would this nightmare ever end!
This is not a normal event but sometimes you just can't control everything.  Sometimes everything goes wrong not matter how hard you try.
Who is your advocate?  Who is standing with you?  Was there anyone standing with you at the last day, at the last moment?  Was there someone "passing the buck" or someone "in the trenches" with you.  That is the difference between a good Realtor and a Great Realtor.  I want to add, also, that a Great Realtor will stand with you if you are buying a $50,000 house or a $500,000 house.  It makes no difference (at least to me).
Let's talk about some things that can happen to really mess things up.
Financing.  Of course, I always recommend getting pre-qual…

5 Steps To Selling Your House and Buying a New One

Pamela Madore Keller Williams Realty

Before putting your house on the market for sale there are a few steps that you should take in order to make the process smooth.
Step 1: Determine which Realtor you are going to be using for the sale and purchase.  (Pick me!) Have your Realtor due a CMA (Comparative Market Analysis) to determine what your house can sell for.  This step is critical to do first because it will help with all of the next steps.

Step 2:  Get a payoff from your current bank so you will have a nearly accurate number to work with.  Then have your Realtor determine what your costs will be sell your house and come up with a number that will represent the amount of cash you will receive at closing.  We are in a seller's market right now which means that if your house is priced correctly you will get nearly asking price.  You should also plan for contingencies in case your house doesn't sell for the asking price.  Consider what  your cash at closing will be if it sells for…

URGENT! Please Read If You Are Thinking About Buying a House In The Next [12] Months

Pamela Madore Keller Williams Realty

I am on a mission to please, please help you understand the importance of getting pre-qualified NOW even if you don't plan on buying a house for a year!

There are so many things that go into qualifying for a mortgage that work behind the scenes that the normal person doesn't know about.
Let me give you some recent experiences:

Dave Ramsey is awesome and lots of people have become debt free because of his teachings.  Recently a lender I work with told me that he had an applicant come to him to buy a house.  They had been through the Dave Ramsey program so they were debt free and had saved enough money to put 20% down on a house.  Sounds great, right?  Wrong.  
Because they were debt free and had no credit they had no credit scores and therefore they couldn't get a mortgage.  So here we have people that were doing everything right (they thought) and ended up disappointed.  If they had gone through the pre-approval process 6 months before they w…