Oct. 9, 2019

WHAT IS A SELLER'S TEMPORARY LEASE BACK?

 

“ Now the next thing about that is, damn.. I was doing good on that video and just totally lost my train of thought.  It’s deer season!

Hey folks! Realtor Chris Hall. Today I want to talk about a seller’s temporary lease back. Now in short what this is is the owner will become a renter and the buyer will become a landlord. Now, one thing I always want to tell my clients whether they’re a buyer or a seller is before you start your lease back period, reach out to your insurance company and make sure that you have the proper insurance. Alright?  If you’re doing a 24  hour lease back maybe it’s not that big of a deal, but if you’re doing a few days, a week, or a month, you definitely want to make sure that you have the proper insurance just incase the unforeseeable happens.

Now, a lot of times people ask me the questions “Why would somebody want to do a lease back?” Well, let me give you a few scenarios. 

Let’s talk about if you’re the seller, alright.  Now, the great thing about a lease back if you’re a seller is it essentially gives you the ability to close on your home and lease it back for a period of time.  Maybe that will keep you from having to do multiple moves, and get a storage unit, and maybe stay in a hotel or an extended stay or whatever.

Now for a buyer it’s really nice because you can offer that convenience to a seller and everything that has convenience comes with a price. So, if you’re in a multiple offer situation and say that seller really needs that lease back period, you could offer maybe a free lease back and maybe that would make your offer better than a higher offer that’s gonna kick the sellers out of the house in lets say 25 or 30 days. The next situation is if you have a buyer that maybe wants to get a home a little bit below marketing value or maybe try to get what they would consider a good deal, you know maybe that seller would be willing to pay for that convenience if you offer them a lease back and it’s something that that seller really needs.  So, really a good tool, it can be very helpful for a seller and it can be a nice too for a buyer to keep in their back pocket.  So, that’s they end of this video, I hope that you enjoyed! Until next time, have a great day!”

 

Oct. 4, 2019

3 WAYS TO NEGOTIATE HOME REPAIRS

 

Oh you know what I didn’t really anticipate that you’d see I have socks on.  I took my shoes off so there wasn’t the “clankiness” on the ground. But uh, anyways, lets talk about these 3 options here.

 

So Option 1 is you can have the seller complete the repairs themselves. Now this is really nice for a buyer sometimes because you know, you don’t have to worry about getting those repairs done when you get inside the home.  The only downside, potentially, could be as buyer you don’t know the quality of the work that that seller did.

 

Option 2 is you can have the seller reduce the price, right?  Now, depending on what your loan is, this sometimes isn’t the best option. So let’s use some easy numbers here.. you bought a $400,000 home and a $5,000 repair comes up.  So that’s $5,000 to the seller, but if you reduce the price your out of pocket down payment and your monthly payment as a buyer isn’t really going to change much.  Which kind of leads me into my 3rd option.

 

Having the seller give the buyer closing costs in lieu of repairs.  So basically that $5,000 repair comes up, the buyer says “Hey, you know what, I’ll get the repair done when I move inside the home, I just want you to cover $5,000 of my closing costs.” It’s essentially the same thing to the seller as reducing the price by $5,000 but now it’s a little but more equal.  It’s $5,000 savings for the buyer and its $5,000 reduction to the seller.

 

So that’s the 3 different options. Sometimes you can use all 3 maybe just 1 or 2, it really depends on the situation. I hope that this video was helpful and that’s pretty much the end.  I gotta work on my ending on the videos. So, ya, that’s the video, hope you enjoyed, see ya next time. 

 

Great video guys!

Sept. 25, 2019

SHOULD YOU INSPECT NEW CONSTRUCTION?

Hello this is Realtor Chris Hall with Keller Williams in Southlake Tx.  Today I'd like to talk about whether you should or should not get an inspection done on your new construction.

So real quick we're going to go over three different types of inspections or three different phases if you will of inspections and when you might want to have those done.

1. You can contract with an inspector and have a series of inspections done throughout the building process. This is going to be the most costly, but that inspector is going to have the opportunity to catch any mistakes before the sheetrock goes in, wiring, plumbing, so on and so forth.

2. The most common is having an inspection done before you're actually closing on the home. A few weeks before closing you meet the inspector and the do an overview of the whole property, you go over the report, and the builder will fix most of the items. Keep in mind, some of these might be code, so that's just a conversation you're going to have with that particular builder.

3 . This is not very common but I really advise my buyers to do, is have an inspection eight to ten months after you've actually lived in the home. Now the vast majority of builders are going to have a one year warranty on that property. Everything will be in that warranty, even cosmetic items. That's why I think it's a really good idea to have that inspector come out eight to ten months after you've lived in that home. You being the homeowner, living there every day, you're going to find items that are wrong with the property  and that inspector is going to be able to find even more.

Always get an inspection done on new construction, just decide on when you think the best time to have that inspection is.

Sept. 18, 2019

WILL THE NEXT RECESSION AFFECT NORTH TEXAS HOME VALUES?

In this short video I go over what the past 5 recessions have done to the housing market and what the next recession could potentially do to the housing market in Texas.



If you are thinking about selling, buying, or investing in real estate you have probably watched the news. Outside of the election, a very hot topic right now is when will the next recession happen and will it be anything like 2008/2009? Most experts say no. You see, the 2008 recession was caused by a housing crisis and subprime mortgages. The housing market is not in the position it was leading up to 2008.



I hope you found this video informative! If you are or anyone you know is thinking about selling, buying, or investing in real estate I'm here to help!

Jan. 10, 2019

Top 7 New Year’s Resolutions for Home Sellers

With the start of the New Year, thoughts naturally turn to change. If one of your New Year’s Resolutions is to sell your home, then making the right resolutions can help you sell your home quickly and for the best possible return.

  • Move Up Spring Cleaning – Time to do your spring cleaning now. Declutter, depersonalize and make the home look roomier.

  • Stage Your Home – Whether you hire someone or do it yourself, this is the time to rearrange your furniture to make your rooms look bigger and brighter.

  • Think it Through – Before you spend money on renovations and upgrades, think carefully and don’t overspend by guessing.

  • Take Care of Neglected Repairs – This is a great time to hire a handyman or break out the tool belt to take care of deferred maintenance and take care of minor repairs.

  • Interview Real Estate Agents – Hiring a real estate agent is critical to your success. Take the time to interview a number of agents and choose the right one for your needs.

  • Check out the Competition – Go see homes listed for sale in your area and adjust your timing, staging and pricing based on the market.

  • Prepare Mentally – Selling a home can be stressful. Be prepared for low offers, picky buyers, drop-by agents and odd terms. Prepare yourself now so you will take them in stride when you’re on the market.

Posted in Selling
Sept. 18, 2017

How To Add Appraised Value To Your Home

 

After interviewing several appraisers in the area, I've come up with a quick list of what will help add the most value to your home before you decide to sell.

  1. Kitchen 

  2. Master Areas

  3. Secondary Bathrooms

  4. Flooring

  5. Paint

Depending on the age of your home, consider energy efficient upgrades as well like windows, HVAC systems, etc!

 

Have questions? I'd love to chat!

817-343-6084 | Chris@realtorchrishall.com

 

 

Posted in Selling
July 10, 2017

Are Agents Created Equally?

 

Are All Agents Created Equally?

Funny that you ask.. do I think that all agents have the resources to do their job the right way? Yes.  In that case we are all equal, or at least should be.  The problem that I see often is that some Agents don't take advantage of all the tools out there to market their listings in the best way possible.

 

Check out the facts:

  • 92% of homebuyers are starting their home search ONLINE!
  • Homes with professional, high definition photos, are getting more attention!
  • Picture slideshows are ANCIENT and are being IGNORED.
  • Buyers want to see a real walk through video of the home!

 

Before a buyer even sets foot into your home you want an agent that is going to put as much information about the home out there.  What floor are bedrooms on, how big are those bedrooms, etc.  Buyers appreciate this information.  Pictures cannot fully display the layout of a home, and a walk through video tour can really give the buyer a better idea on the layout.  Showing your home off to the best of my ability is what ALL Agents should be doing when they list a home! Sadly, many don't.  

When you go to sell your home, be sure to hire an agent that is maximizing the exposure of your home!

 

If you have questions, I'd love to chat!

Realtor Chris Hall | 817-343-6084 | chris@realtorchrishall.com

 

 

 

June 19, 2017

Relocating In or Out?

 

Relocating can become a bit overwhelming.  Let a professional help you with the task of getting your home sold, or getting you into the right home for you and your family.  I am qualified to work with every relocation company in the USA and would love the opportunity to make this part of the chaos a little easier to handle. 

 

1) You can use any agent that you want to use to help you sell or buy a home.  Wouldn't you want an agent that knows the area better, that understands the market in your neighborhood, and sells several homes locally? Oftentimes relocation companies refer their clients to agents that are NOT as familiar to their location or with how the market is in their neighborhood.

 

2) Relo company may imply that costs and fees may not be covered. When you or the relocation company hire an agent, they agree to split their commission with the relocation company.  You see commission splits around 25% to 40%.THIS agreement take places, regardless of who hires who.  So, when you hire me as your agent, your fees/costs/relocation package WILL NOT be jeopardized.   They are covered regardless.  

 

3) My number one goal is making you happy and keeping the relo on track so you can move on to the next chapter in your life. Most of my business comes from word of mouth.  I am not assigned business from a relocation company.  Therefore, I am going to do my very best for you so you will refer your friends and family!

 

If you have questions, I'd love to chat!

817-343-6084 | Chris@RealtorChrisHall.com

May 12, 2017

The Importance of a Buyers Consultation

It only makes sense to not understand the home buying process backwards and forwards. You may only buy one or a few homes in your lifetime. That is why it is important to sit down with a professional who can help lay a solid foundation for you. This allows you to capitalize on your strengths as a buyer and develop a strategy when you're ready to dive into the market. For right now many homes are receiving multiple offers. Buyers are oftentimes competing with other families who just want a nice place to call home. What is it going to take to get YOU in the home of your dreams? I can help you! I can talk to you about the steps, educate you about what to look for if you need financing, and show you how to make you look great on paper to a seller!

If you have any questions, I'd love to chat!

Realtor Chris Hall | 817-343-6084
chris@realtorchrishall.com

Posted in Buying
May 4, 2017

Meeting Contract Value While Selling Your Heritage Home

When appraisals are discussed, all parties tend to become a little more tense and nervous.  This is a complete stranger's single opinion of your homes worth and he/she is basically what is standing in front of your family's future.  Whether you're upgrading, downsizing, selling or buying.

 

It is important that you approach this step in the process PROACTIVELY.  Reacting to an appraised value AFTER it has come in often times never works out in anyone's favor.  Being proactive can ensure that the home will appraise at contract price.

 

Educating the appraiser is KEY.  THIS is being proactive.  Inform the appraiser of things that they may not know off the bat.  Things that only a resident would know, for example.  Let the appraiser know of the updates and upgrades that you've done so you can prove to them that the value is THERE! These are just a few examples of what information I provide to Appraisers as they come out to my listings.  

 

If you have considered selling in the past, and have questions, I am always happy to chat.  

 

I hope that this video and information was helpful! Let me know what else you'd like to see on the Blog!

 

Realtor Chris Hall | 817-343-6084 | chris@realtorchrishall.com