My New Blog

I get asked the question "Would you recommend  a home inspection for a brand new house?" My answer is always a resounding YES! All buyers should invest in a home inspection regardless if  you are buying new or existing. Most new home buyers think that if the house is new there can't be anything wrong with the house...or if there is...the builder will automatically take care of everything the first few years. How unfortunate for these buyers. All homes need to be inspected by a reliable outside unbiased source. Inspectors are working for you..the buyer...not the seller or builder. Inspectors will be able to inspect the mechanical features, make note of the building materials, and point out any code defects that they notice. If the inspector is concerned about an inspection area, he will advise the buyers to contact a specialist in these areas for a more detailed investigation. Investing your money and time for a property inspection before you complete the purchase, will give you peace of mind at the closing table.

Please feel free to contact me if you have any real estate questions. In the meantime, please enjoy my website.

Everyone knows that real estate is cyclical. Normally we have more buyers in the summer than winter, and holiday's...especially Christmas....the business slows. This summer has been a little unique. Memorial Day weekend is usually the start for the real estate season. Sellers are listings, buyers are calling, and we Realtors are working until dark. This year however our summer started in January,  wrapped up April 30th and closed June 30th. All brought on by the First-Time Home Buyers Tax Credit! Everyone in the real estate business is wondering how the summer will play out. With historically low interest rates, a good supply of houses, and school being out, I can only hope that business will continue at a productive pace at least until the winter holidays:)

If you or someone you know is in need of hardworking Realtor, please feel free to contact me. Until then, please enjoy my website.

Shawna Nielsen

www.shawnanielsen.com

Okay, isn't the purpose of a REO asset disposition department to sell or "dispose" of a foreclosed property? Well, I think a certain bank I am working with this week doesn't seem to understand their job description. I submitted an offer Monday for a lovely large golf course property here in Edmond. The house has been on the market almost a year with several price reductions.  Yes, my buyer's offer was priced a little low, but he had an excellent credit score, he was paying 75% cash, and he was taking the house "as is" with a 30 day escrow. In the back of our minds we knew the bank would counter, and we would raise our offer and another REO would be wiped off the bank's books. Well, the bank countered a whopping $5,000 off the list price! I was flabbergasted! We did respond and increased our offer. Surely this would get noticed and a second better counteroffer would be extended. Well, the bank didn't budge! Same counter offer as before.  At this point I am thinking...does the bank want to hold this property forever...do we have a person of sound mind on the other end....is the bank not wanting to work an offer with my qualified buyer? I telephoned my buyer with the news. I admit he took the news better than I expected, but he like the bank didn't budge. Unfortunately, both sides of the transactions lost today. The bank and my buyer.

Was there a lesson learned from this transaction? Yes, you never know how a bank will respond to an offer. As a buyer be patient. If the bank truly wants to dispose of the house, the price will come down and you can always resurrect your offer.

Summer is officially here! Memorial Day Weekend typically marks the beginning of summer and the start of home buying/selling season. Within the next few weeks, houses will be sprouting on the market at a fast pace. As a buyer, you need to be sure you are ready. First and foremost, take a few minutes and get pre-approved. By taking the time to talk with your lender, you will know what price range you need to be searching and you will know what monies you will need to close. Your realtor will be happy too. You will be considered a serious buyer. As a seller, you should have your house spic and span before the sign goes up in the yard. The first 2 weeks are critical in the home selling process. The newest on the market always gets the buyers attention.

If you need any help this home buying season, please feel free to contact me. I am here to make your home buying/selling experience stress free.

Ask any Realtor if they would prefer a cash sale or lender financed sale, and the unanimous response would be CASH! As with any business transaction, the fewer people and steps involved, the faster the completion of the closing process. With a cash sale, no lender is involved. There is no waiting on pre-approval letters, no application process, no last minute closing instructions to the title company. Essentially all a Realtor needs is to verify the buyer's funds, get the title work completed, and head to the closing table. All of this can easily be completed within 7 business days versus the traditional 30 day close with a lender. So sellers if you have a cash buyer, take a serious look at their offer. It could save you valuable time and money.

If you have any questions or comments, please feel free to contact me.

Most sellers always ask "Should I give a carpet allowance?". My standard answer is always in the form of an illustration. I start off with" if you were the buyer and you were seeing 5 houses today, would this well worn carpeted house make your list as compared with the same type house with brand new plush carpet?"  Most sellers do not realize that their house is in direct competition with other properties in the same price range. A buyer's sense of sight and smell greatly affect their buying decisions. A freshly carpeted house smells and looks good to a potential buyer. A house with old,worn, smelly carpet just doesn't appeal to the buyer and as such almost always doesn't make the top 2 regardless if there is a carpet allowance. So sellers, spend the money upfront and put in some fresh new carpet. Your time on the market will be reduced and your house will closer sooner than later.

If you have any questions concerning getting your house ready to market, please don't hesitate to contact me. I will gladly share some tips with you at no cost or obligation.

Have you ever wondered if weather plays a part in the house hunt? Well I can tell you from experience that if you need a house, good weather or bad, you will be out looking. My seller's always want to market their homes via Open Houses, but only on the sunny weekends. They don't want dirty foot traffic marching across their clean carpets. I try to explain to them, that there will be out of town buyers in over the weekend, who only have the weekend to search for a home. Would they turn away a potential serious buyer just because they have dirty shoes?

As a seller, you never know when that buyer will walk through your door. In good weather or bad, have your house available to show.

If you are looking to buy or sell this Spring, please give me a call. I am available to address your questions or concerns.

With so many first-time buyers in the market now, FHA has become the loan of choice. With FHA loans come stricter appraisal requirements than with conventional loans. FHA appraisal guidelines look for items that are considered unsafe, a health hazard, or in nonworking order. Sometimes the roof can be a tricky area. I was out on inspection this week when the property inspector noted problems with the roof. Yes there was only one layer of shingles, but the roof though fairly new, had experienced some hail damage. The inspector suggested we contact a roofer for his professional opinion. The roofing consultant said yes the roof was totalled, the seller did not agree. Now we are calling in the insurance adjuster for a second opinion. If a new roof is needed and the seller doesn't agree, my buyer will be looking for another property and Mr. Seller will not be able to sell his property to a FHA buyer.

If you are looking to purchase and you need a buyer's agent, please contact me. I will be happy to assist you with your home purchase from offer to inspection, to closing...Shawna

With the FHA announcing new guidelines for downpayment and MIP premiums, the possibility  of home ownership may be out of reach for many couples. Thus said, is it basically a bad deal that some potential buyers may not get a home? During the past years, home ownership in my opinion has been too easy. Not all buyers are competent to understand that there is more to home ownership than paying the monthly mortgage payment. There will always be that unexpected home repair, the increased property taxes, and the homeowners insurance deductable. Homes also don't come with lease termination clauses. It is far more costly to walk out on a mortgage than a lease. With the FHA tightening the lending requirements, more first-time home owners will be forced to take a greater financial stake in their homes. In my opinion, it's a step in the right direction.

If you are looking to buy in 2010, please take the time to talk to your lender. He will discuss the FHA requirements and get you pre-approved to purchase your new home. Once pre-approved, contact your Realtor to assist with your new home purchase.