All Blog Entries by Krystal Thompson

Found 36 blog entries published by Krystal Thompson.

 

Plus a few Staging Tips and Tricks-

If you are ready to put your home on the market, you already know that how it looks can make a significant difference in the sales price. If you don’t know how much the look of your home can affect your sales price then this is the blog for you!

Home staging is the process of preparing a your home for sale.  Wikipedia state that “the goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money. Staging techniques focus on improving a property's appeal by transforming it into a welcoming, attractive product that anyone might want.”

According to the 2018 National Association of Realtors News Release:

  • Forty percent of
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So what is REALTOR® anyway?

Have you ever wondered why Real Estate Agents are commonly referred to as REALTORS®?  There are many terms used to identify a Real Estate Agent that can add some confusion; managing broker, a broker associate, exclusive buyers agent etc.  First and foremost a Real Estate Agent can be a REALTOR®, a managing broker, a broker associate and an exclusive buyers agent, but not all can be called a REALTOR®.   In order to be a REALTOR® the agent must be a member of a NAR- National Association of REALTOR® (notice the trademark?) and subscribe to the REALTOR® Code of Ethics. It pays to know the difference when you decide to hire someone to assist you in buying or selling a home.  

The REALTOR® Code of Ethics, which includes 17

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WAIT, It's a Quick Claim Deed right?

It would seem like finding a real estate vocabulary word that starts with “Q” would be a bit difficult.  Good news!  It was the easiest one so far as there is only one that is important enough to cover. Have you ever been the grantor or the grantee in a quitclaim deed?  Funny thing, most people call it a quick claim deed. Its quit, not quick.  I assume its confused often because it is a quick way to change a title document, or maybe its because people don’t enunciate it well enough.  Either way, lets dive in.

Its called a quitclaim deed because the owner/grantor terminates (“quits”) any right and claim to the property, as a result the right or claim to transfer to the recipient/grantee.

Due to the lack of

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The difference between a Pre-Qualification vs. Pre- Approval is pretty simple actually, but one is definitely preferred over the other.  

There are plenty of real estate terms used in transactions. Needless-to-say it can be confusing for both buyers and sellers trying to navigate the process. The home loan process might feel overwhelming and difficult to understand. Both buyers and sellers find terms like “Pre-Qualification” and “Pre-Approval” used interchangeably, it’s no wonder they find themselves wondering how to proceed.

Pre-Qualification

The first step in obtaining a home loan is to meet with a lender and discuss your financial situation. The lender will discuss income, job

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Open House

Its time to sell your home!  This is about the time that you start decluttering, pre packing your beloved keepsakes, and trying to figure out what to do with the kids and the dog during showings. 

This is about when the panic starts to set in... but avoiding showings is not a great plan.  When people are ready to buy they want to see a potential home on their schedule, not yours.  However, there is a potential loop hole to try and get as many people in the home at one time in an effort to relieve some of that random showing stress: your agent can hold an open house, or two.

The benefits of open houses have been debated in the real estate community for years now. While it’s true that most homes are sold by private showings, there are good

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Have you ever walked into the model home showroom of a brand new housing development?

There is nothing more exciting than the prospect of building a home from scratch and starting absolutely fresh in a new space. The nice sales people in the showroom are happy to help you through the process, but did you know that you can bring your own real estate agent to represent you? Not only do you get to pick the colors of the carpet, choose the countertops and flooring and watch as the home goes up, you can do it with your own REALTOR.  

New builds are well branded, highly marketed, beautifully staged, and have sales representatives right there to answer your questions.  They even offer lender incentives to use their preferred lender.  WOW! This

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Mortgage insurance is often referred to as PMI (Private Mortgage Insurance), but they are a little different. 

This weeks Real Vocabulary blog topic is one that most people confuse with Homeowners Insurance.  Confusion comes easily as there are a few types of insurance that come up while purchasing real estate:  Homeowners, Title, + Mortgage (+ PMI).  Mortgage insurance is typically referred to as PMI (Private Mortgage Insurance), but they are a little different. Essentially, one is paid directly to the government and the other is paid to a private company.  Which one you receive will be determined by the type of loan you choose to go with, or qualify for.  The reason for the insurance is simple: it lowers the lenders risk when giving you a loan

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The mortgage world is full of acronyms.  

FHA, PMI, LTV, DTI, HELOC, AMC,+ ARM, to name a few.. but why so many?  The head honchos think that they are simplifying things, when in fact all it does is convolute it for the general public.  This weeks topic is a prime example of this.  

Have you ever been turned down for a loan because of the LTV on your property?  At the time it probably didn't make any sense, when in fact, one fo the simplest math equations ever was used to determine the LTV.  In an effort to not overcomplicate an issue that is truly very simple we will cut right to the chase for todays topic. 

Reaching out to a local lender for up to date guidelines on any mortgage topic is always best as they are ever-changing. This week we

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Imagine you found your dream home, you couldn’t be more excited to be under contract. But you start wondering "what if something is wrong with the house?  How will I know?"

First things first, don't panic!  After you deliver earnest money to the title company you will be receiving some disclosures to review.  One of these disclosures is the Sellers Property Disclosure.  On this disclosure you will get the chance to review all of the issues that the seller is aware of pertaining to that property. Review it carefully and thoroughly because you aren’t going to go in and start destroying the property to look for problems, and it will be very helpful to know if there have been any issues with the property in the past that you cannot see with the naked

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Kick Out Clause, has a nice ring to it, doesn't it?

Not really, although while its general verbiage seems threatening, this particular real estate clause can allow a seller a bit of flexibility when accepting a contingent offer.  What about the buyer? Is it good for them?   That all depends on the terms, current market, home demand, pricing and overall timing and good luck.

As we have discussed in previous topics most people need to sell their current residence in order to qualify to purchase a new home.  If a buyer puts an offer in on a home they wish to purchase but their home is not yet sold, this is called a contingent offer.  When the box is checked indicating a contingent offer it lets the seller know that there is additional risk and time

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