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Here’s my advice about winning against multiple offers in today’s market.We’re seeing multiple-offer situations more often than not in today’s real estate market. Due to historically low inventory and interest rates, demand is sky-high. There are just about 3,300 homes for sale right now, when we historically have between 7,000 and 10,000 this time…
 
Happy holidays to you all; your support this year helped us help others.Merry Christmas, and thank you for your support; we appreciate the trust you place in us to help with your real estate needs. We’ve had an excellent year here at Homestead and Co. because we’ve been able to help a record number of families. Without all of you, we couldn’t have …
 
Here’s why you shouldn’t dismiss the idea of a holiday home sale.Most people assume that there are more homebuyers active in the spring and summer markets, so they wait to list their homes until those seasons roll around. While that assumption is correct, it also leads to much higher competition among sellers—if every seller waits for the same adva…
 
We wouldn’t be where we are today without your support for our team over the years. As a result, we’ve continued to grow, and now we need to grow our staff and were hoping you could help out. If you or someone you know is humble, hungry, smart, and interested in starting a career in real estate, we’d love to hear from you. Our goal is to staff up a…
 
What kind of loans are used most commonly in our market? Let’s discuss. In our local market, there are four types of home loans we see used more often than any others. Today, I’ll share what each of them is and what they entail.1. FHA loans. While this loan is commonly associated with and used by first-time homebuyers, you don’t have to be buying y…
 
When you’re considering the investment worthiness of a property, it’s easy to forget the factors that should be paramount in your decision. Here are three to keep in mind: 1. Monthly principal payments. We’ve talked a lot about positive and negative cash flow, but let’s not forget that every month you’re paying down the principal balance on the mor…
 
When it comes to real estate investing, it’s not uncommon for beginners to miscalculate their cash flow. Many mistakenly believe that because they’re renting their property out for $1,000 a month, yet only paying $700 to $800 in monthly mortgage costs, it must mean they have a positive cash flow. In reality, they’re simply failing to account for ot…
 
When it comes to answering the question of how much you should spend on a fixer-upper home, we need to understand how to calculate the value of the property in its as-is condition before repairs.First, we need to address the ARV, or the ‘after repair value.’ This describes how much a property will be worth once all updates and repairs have been com…
 
Lately, you’ve probably noticed a lot of advertisements from companies claiming to buy your home outright for cash. Some of these companies are local investors, others are investing firms, and others still are huge real estate companies like Opendoor and Zillow. The truth is that though they may offer cash, these companies tend to offer sellers pri…
 
We’ve had an amazing first quarter here at Homestead & Co., and we want to thank you personally for trusting us with your real estate needs. We’ve nearly doubled the number of families we’ve been able to help find a home, and without you, we wouldn’t have been able to provide this service. If you ever have any real estate needs, don’t hesitate to r…
 
Everyone wants to add value to their home before putting it on the market, but a lot of the advice about how to do so misses the mark. To give you a better idea of what does and doesn’t add value, we’ll be covering a few important points today.First of all, don’t add a pool. If you want to add this feature for your personal enjoyment, then “by all …
 
Imagine this: You’ve found the perfect home, submitted an offer, and gone under contract. You think everything is going smoothly, but then you get the results of the inspection report. It’s normal for this report to turn up issues, but the severity of these issues can vary vastly. However, it’s the way these problems are addressed that truly matter…
 
One of the most-asked questions I hear as a real estate agent is, “How do I buy this pre-foreclosure on Zillow in order to save some money?” I’m going to explain today.When I pull up all of the foreclosures and pre-foreclosures on Zillow, you can see that the foreclosure homes have definite prices, while the pre-foreclosures just have an estimate. …
 
Today I want to take a break from real estate to thank you for an amazing 2018. As the new year approaches and we reflect on the year that’s passed, we were able to help an unprecedented number of families buy and sell homes. We were also able to develop some great relationships with other phenomenal agents, which allowed us to raise the bar on our…
 
Closing costs seem to be somewhat of a mystery to many. They’re are essentially additional fees (outside of the down payment) that are associated with the purchase of a home. Today we’ll be using a program to calculate example payments you’ll find in your closing costs.You can follow along with the video example starting at 00:35.For the example, l…
 
It can be hard to remove personal feelings from a real estate deal. After all, our homes are incredibly important to us. So when it comes time to buy or sell a home, it can be hard to know whether you’re making decisions driven by logic or whether you’re letting your emotions take the wheel.Today we’ll be covering five strategies that can help you …
 
Most people assume that springtime, or the first quarter of the year (Q1), is the best time to sell your home and that wintertime, or the fourth quarter (Q4), is a bad time to do it. According to the numbers, though, this simply isn’t true.Although it is true that more homes sell during the first quarter, there are fewer homes that come on the mark…
 
If you plan to sell your home this fall, there are five points you should keep in mind:1. We’re still in a strong seller’s market. A balanced market is one which has six months of available inventory, yet our current market has just three months’ worth of supply right now. In other words, sellers currently have a strong advantage. 2. It’s important…
 
If you’re looking to buy a new home but you also have a home you need to sell, you have three options in which to proceed.First, you can buy a new home before selling your current one. This option requires the most out-of-pocket cash since you are owning two homes at once, but it is also the most convenient. You also get the chance to lock down the…
 
Today I’ve got a quick market update for you for the first half of 2018. The numbers are in and we’ve got great news.The Oklahoma City metro market is strong. New listings are up by 8.7%, which means more homeowners are listing their homes. New pending sales are also up 7.8%, which tells us that the market is ready for the increased supply and buye…
 
Today we’d like to extend our sincerest thanks to all of you who have supported us this year, as well as in years past. So far in 2018, we’ve already completed more transactions than what we did for the entirety of 2017. This is absolutely amazing, and we couldn’t have done it without our amazing staff, and, of course, our incredible clients. Thank…
 
If you want a pool on your property, is it better to purchase a home that already has one or to install one yourself? Today we will provide some insight into these options.First of all, it is important to note that the most sought-after pools in today’s market are concrete or gunite. The typical cost of these types of pools ranges from between $40,…
 
There are three important reasons why it’s great to have your own buyer representation when purchasing a home.1. No discounts. You don’t get any discounts by going directly to the listing agent. In fact, that commission is negotiated between the seller and the listing agent. 2. The listing agent works for seller. By not using your own agent, in eff…
 
Professional photography is an incredibly important part of marketing your home listing. During online home searches, people are obviously drawn to the listings with the best pictures.Pictures that were taken on a cell phone, in bad lighting, or where the photographer is visible in some reflective surface can all make an online listing look less ap…
 
Many people seem to be confused as to the difference between an appraisal and an inspection. So today, I will be going over what you need to know about these two processes.First, we always recommend you have an inspection performed any time you buy a home. This makes sure the property is safe and in working condition.Insurability, though, is one th…
 
Whether you are a first-time homebuyer or it’s been a while since you last purchased a home, it’s important to understand what happens during the home buying process.There are six main steps that you should know about:1. Setting your budget. If you aren’t paying cash, talk to a local mortgage professional who will guide you through the process and …
 
What’s the difference between a short sale and a foreclosure? If you’ve ever wondered this, I have the answer for you today.Many people who are new to the market have heard they can get a great deal on a foreclosure and a short sale, but they may know what those terms mean.A foreclosure is when a homeowner goes into default. This means they aren’t …
 
In 2017, we helped 110 families buy a home, sell a home, or invest in real estate, and today we want to thank you for helping us do that.Our goal for 2018 is to help 250 families, and we look forward to your continued support and trust. As a thank you to our clients, we recently threw a wonderful Christmas party, and due to the overwhelming support…
 
Is it a good idea to sell your home in the winter?To answer that, let’s look at a few statistics from the past year. Between January and February, over 2,500 home closed, which is roughly 12% of all the homes sales for the year. This tells us that real buyers are still out there during winter trying to buy homes.When you think about your ideal buye…
 
Today I want to talk about three general strategies for investing in real estate.1. Rentals, or “buy and holds.” Essentially, we buy a property using either financing or cash and then rent it out. One strategy we use to rent out homes is to keep them occupied as much as possible. We prefer to give a little bit less than market rent to make sure we …
 
Now that October is over, we’ve aggregated all the data so we can take a look back and see exactly how the market’s been doing over the past few months.An additional 19% new listings hit the market this October compared to October 2016. That continues the trend from September, where we saw 20% more listings than the previous year at the same time.W…
 
I just wanted to reach out and say thank you for a phenomenal, record-breaking year.As we look back on the year Homestead & Co. branched out on its own, we are full of gratitude. We met some great people and helped some great families get into a home. We also helped many people sell their homes.“We couldn’t have done it without you.”We developed a …
 
We just received our final numbers from September, and they confirm some hunches we’ve had about our Oklahoma City market recently.Year to date, our level of inventory is up 8.6% and our number of closed sales are up 4.6%. New listings hitting the market continue to outpace sold properties, so we might see a shift toward a buyer’s market coming soo…
 
If you are buying a home, odds are that you want to find the best deal possible. How can you do that?First, it’s important to know your goals. Do you want to keep as much cash in your pocket as possible? Do you want a lower monthly payment? Do you want to pay the house off as soon as possible? Or is the goal to pick up additional items, like the pl…
 
If you’re thinking of listing your home FSBO or you already have, I have an important topic to discuss with you today. In our market, there are four different types of buyers. Understanding each of them is the key to making sure your home sells for top dollar. Here are the four different types of buyers:1. Serious and in a hurry. These buyers are t…
 
How does our current OKC market compare with where we were last year?From July 2016 to July 2017, the number of new listings hitting the market increased 8.6%, the number of pending sales increased 16%, and the number of closed sales increased 4.7%. What’s interesting about these statistics is the falloff between pending sales and closed sales, and…
 
What is the process of buying a new home like when you already own one? It can be tricky, but there are several ways in which to go about it. Here are four different options you have if you want to juggle buying a home and selling another at the same time.1. Keep the existing home and turn it into a rental property. Owning rental property is a grea…
 
Understanding pricing strategies can make a big difference in selling your home.Oftentimes, I encounter people who falsely believe that the best route is to overprice a home, and then bring it down if it isn’t working.But, imagine for a second in this circumstance that you’re the buyer. When you put on your “buyer hat,” it isn’t hard to see why som…
 
I’ve got a quick market update to share with you today regarding the OKC metro market. Here are the latest numbers as we head into the dog days of summer.We had a great month in May, closing just over 2,400 units. That’s 29% more closings than we had just last month. However, we saw a dip in new and pending contracts this month.Overall, we are seei…
 
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