Avoid Foreclosure – Consider Your Options

September 22nd, 2017

Avoid Foreclosure and Consider the Options Available to You

If you would like to avoid foreclosure and are not sure about your personal situation with regards your mortgage and your home, please call Michael and Sara Gaddy for a confidential consultation and let them discuss the options available to you and to assist you in your real estate needs.

Get our Free Ebook here and let us help you avoid foreclosure.

Understanding Short Sales - eBook

Find out if a Short Sale is a possibility for you and if it would be the right decision for you and your family.

 

Call Michael 704-975-4651 or Call the Office 803-835-2399 Michael@MGaddy.com

The Gaddy Group

Keller Williams
1030 Assembly Drive
Fort Mill, SC 29708

Getting to Know The Buyer – Ask The Right Questions

September 7th, 2017

Getting to know the Buyer is important for an agent in order to serve a Buyer better. Your agent may be asking you many questions and some may make you feel as though you privacy is being invaded. It is important to know that your agent has to make decisions about the right properties to show you and if she knows what to look for, you will have a winning experience and a home that you love.

Buyers Agent needs to ask many questions

 

Of course there are the basic questions like

  • What size home do you need?
  • Do you need to be near schools? Which schools have you selected? Are they open for registration or is there a freeze?
  • What are your favorite neighborhoods
  • What type of garden space do you need?
  • Must it be a ranch style or are you happy with a two story?
  • Do you need a guest room
  • Is a basement important?

and of course many more.

The questions a Great Real Estate Agent will ask when getting to know the buyer include

  • Why do you want to move
  • What is the most used room in your home
  • What is your favorite room
  • Do you work from? Would office privacy be important?
  • Do you own a home or have you owned a home before?
  • Are you able to do some DIY type repairs around the house
  • Do you have pets? What type? Small or big?
  • Do you have any hobbies that require space? Indoor or outdoor?
  • Is garage space important?
  • What is your favorite thing about a property that you have lived in previously?
  • If you have worked with a realtor before what was their best quality? What irritated you the most about them?
  • Are you outdoorsy people? If so, what is your favorite outdoor activity?
  • Do you like to entertain or is home for you and your loved ones mostly?
  • Do you enjoy gardening?
  • Is an irrigation system important?
  • What would be a deal breaker for you?
  • Are you au fait with the closing process and expectations or do you need me to send you some information?
  • Is there anything I should have asked you that I haven’t that may be important to your home purchase?

The more in-depth the conversation is about what is important to you together with getting to know the buyer, the better your buyers agent will be able to assist you. Along the way you may have to compromise on some level and if your agent knows your home needs and personality type, he/she will be able to tick as many boxes to make this home your reality.

At Gaddy Group Carolinas – we have the experience to know about pricing and marketing your home. We are experts in our field and we know how to get you the maximum exposure.

Please give Michael a call 704-975-4651 or email Michael@MGaddy.com

#GaddyGroupCarolinas

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Photo Copyright: scanrail / 123RF Stock Photo

Price Points and Marketing Your Home

August 26th, 2017

Price Points Important When Selling Your Home.

When putting your home on market and setting the price points, it is important to make sure that you are working with an experienced agent. The right real estate agent will know exactly how the property needs to be priced in order to find the right buyer for your home. All agents will do a Comparable Marketing Analysis and discuss a price with you, but an experienced agent will help you put the home into the correct price points, increasing exposure.

Case Study

A less experienced agent from another company did a CMA for her Seller client and put the $350,000 home onto the market based on her figure work – which is actually the right price for the property. In order to make the property sound more appealing and in discussion with the Seller, they priced the home at $349,900. One would think that is a good idea and give kudos to the agent. However, an experienced agent would never have done that. Here’s why…

When buyers search for homes, they search in price points – $300,000 to $350,000 or $350,000 to $400,000 etc. Can you spot the inexperienced agents downfall?

The Seller is prejudiced by this ridiculous situation. His home priced at $349,900 is only falling into one of the price points – the $300,000 to $350,000. If the agent had priced it at $350,000 the home would have had twice the exposure bearing in mind the home would appear in both the buyer search bands.

That would be a great marketing tactic for a retail store, but not a great idea in real estate.

When considering Selling your home, ask your real estate agent if what they think about “retail store” pricing. If they think it’s a good idea to price end in a 900 then you may want to interview a new realtor.

At Gaddy Group Carolinas – we have the experience to know about pricing and marketing your home. We are experts in our field and we know how to get you the maximum exposure.

Please give Michael a call 704-975-4651 or email Michael@MGaddy.com

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Pricing Your Home in a Sellers Market

August 18th, 2017

In a  Sellers Market is it a good idea to price your home for more than you would expect because there are fewer homes on the market and a greater demand?

How to price your home in a sellers market

Real Estate Agents often get asked “How Much Can I Sell My House For in a Sellers Market?” The answer is simple – “You can sell your house for as much as a buyer will pay for it in the current market conditions.” Lets take a look at pricing factors –

When your real estate agent does a valuation for your home, they would likely do a Comparable Marketing Analysis (CMA) based on the homes that have recently sold in the area around yours. With that information they will make a recommendation with regard to price. If you believe that your home could sell with a bigger price tag in a Sellers Market, then I suggest that you check out these tips before pricing your home .

Curb Appeal

Very important point – make sure your home looks fantastic from the street. You have one chance at making a first impression and sometimes that one thing may be the reason a person chooses to come in to look or not. Your home needs to ooze charm and be completely inviting, irrespective of price.

Condition

What is the condition of the competition homes at the time your home enters the market. Those homes are going to be part of the buyers choice and you don’t want your home to be used as the springboard to sell the other homes while yours since on the market for weeks or months. Make sure that your home is in a comparable or better condition – it could be the reason buyers will consider paying a little more for the home. Many sellers think that because they have a new HVAC and a new roof that the home has been updated, but honestly if the bathrooms and kitchen are outdated and have older appliances, it will have very little baring on increasing the price of the home. You may want to consider having a home inspection done prior to putting your home on the market. Its easy to do the repairs then and its a great selling tool once its all completed.

Location

A home sells based on price, condition and location of the property. If your home has a benefit of a better location, like a waterfront home, or a golf course home – possibly walking distance to a great school then your home may be able to demand a higher price.

At the end of the day, the buyer will make the decision on what price he is prepared to pay. He will inevitably be working with a real estate agent and together they will look at all aspects of the property when making an offer to purchase.

In a Sellers Market, it is a good idea to price the property at exactly market value and then allow the price to be driven up by demand. Buyers get into a bidding war and the Seller can literally received multiple offers, giving him a the choice to secure the best offer and an inflated price for his home.

Call Michael Gaddy 704-975-4651 if you would like to discuss the options price and sell your home in a Seller’s Market.

Whats Your Home Worth?

 

 

 

Multiple Offers? Which Offer Should the Seller Accept?

July 28th, 2017

Multiple Offers – How to Win

When A Seller is presented with multiple offers, the Seller will rely on the Listing Agent to give his/her opinion before choosing which offer to go with. Learn how your offer will be entertained when the Seller receives multiple offers and makes the decision to accept.

Multiple offers on a home with hands in the air winning a key

Firstly, the Buyer needs to know that the Seller is looking to sell his home in the shortest possible time frame, for the most amount of money he can get and with the least amount of complications possible. With that in mind lets see what would make the offer most appealing and what the Listing Agent would look for in an Offer to Purchase for his Seller;

  1. Offer to Purchase needs to be completed properly with all signatures, initials and with the necessary supporting documentation.
  2. A mortgage pre-approval, that should be submitted with the Offer
  3. If the Buyer puts down an earnest money deposit – is it enough to show how serious the buyer is about getting the home?
  4. Try and meet the expectations of the Seller as far as closing is concerned. If he wants to move quickly, then try and meet those expectations if its feasible. Your buying agent may be able to call the Listing agent to find out what his parameters would be.
  5. Make sure that there are no complications in the Offer to Purchase. Winning in a multiple offers situation if you have to sell a home or another onerous contingency in the agreement, could jeopardize your chances of getting your offer accepted.
  6. Price – What offer will make the Seller’s dreams come true? Don’t bargain for price if the Seller has multiple offers. Your offer will be eliminated first.
  7. Do not ask for contribution towards costs. In a hot market, that will not work in your favor.

If you do not win in a multiple offers situation, do not be disheartened. Learn from the opportunity. Perhaps your buyer agent could call the Listing agent and find out what was the differentiating factor between your bid and the winning bid. Sharpen your offer for the next one or change your tactic completely.

It is difficult to find a home in popular areas and subdivisions, so be prepared to go the extra mile to win the deal. It may cost you a little more today to buy that home but the peace of mind and memories will serve you well past the price tag.

Looking for an experienced agent to work with when buying a home in a hot market and multiple offers situation? I am Michael Gaddy and my experience can assist you to win your dream home. Call me to find out how I can help you. 704-975-4651

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How To Find The Perfect Home in a Hot Market!

July 14th, 2017

Finding the perfect home in a hot market is a daunting task. If you have been searching for a home to buy since March of this year, you know its not been easy. Homes have many offers on the table and buyers are fighting to get their bids accepted even if they are prepared to pay more than the asking price.

Find the perfect home in a hot market - Three colorful arrow signs reading going, going, gone to represent leaving or moving, or the closing of a sale to the highest bidder in a hot property market

Here are a Few Tips About Finding the Perfect Home in a Hot Market.

Homes That Have Been On The Market a Long Time

Ask your agent to set you up on a search for homes that have been on the market for more than 30 days. Sometimes those Sellers become more desperate when they see other homes hitting the market and being sold quickly and their home is just not moving. Take a look and see if the home could fit your needs. Often it just needs a coat of paint or new carpets, maybe a wall can be removed to make it more appealing and enhance the floor plan. Cosmetic changes could be the trump card to you winning the battle of the bidding wars and finding the perfect home in a hot market.

Overpriced Homes

Ask your agent to look and see if there are any homes on the market that are priced out of there price point and possibly just out of your price range too. This may give you an opportunity to find a home, put in a lesser offer and possibly the opportunity to get your new home without a bidding war and for a realistic price.

Priced Reduced Listings

Your Real Estate Agent can also make sure you get to see the Price Reduced Listings and it would be a good idea to get in to see those as soon as possible. You may be the first one in and get the opportunity to see the home first. Price Reduced Listings are often a great opportunity to find your home!

Outskirts of The Desirable Neighborhood

If you are not looking for a home in a particular popular school district, then consider looking at homes on the outskirts of that location because there will be less bidders looking outside of the school district. Perhaps consider an adjacent and possibly not as popular a neighborhood or town. If there is less demand in a neighborhood you could find your perfect home in a hot market.

Partner With a Great Real Estate Agent

Partnering with the right real estate agent helps a lot when you are looking for a home. A real estate agent with great local knowledge, well connected in the industry may know about some pocket listings. These may never get to the MLS, but they are sellers who don’t want their neighbors, family, business, colleagues or for whatever reason they may have to know that they are selling their home. Your realtor will know about those listings or will know who to call to find out if there are any on the market and help you find the perfect home in a hot market.

If you are looking for a great real estate agent – Sara and Michael Gaddy are a wonderful Husband and Wife partnership. Call Michael (704) 975-4651 for email or more information.

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Copyright: iqoncept / 123RF Stock Photo

When To Celebrate The Sale Of Your Home

June 30th, 2017

Is Your Home Sold? Is It Time to Celebrate?

Is Your Home Sold? It is wonderful to have a contract on your home, but when is it time to celebrate the sale? There are many obstacles to overcome along the way, so don’t celebrate too soon.

Here are a few items that can jeopardize your sale and although some can be remedied, a few are going to trip you up along the way!

The Home Inspection

A good Sellers agent will make sure that the Buyer has a home inspection done on the property. The Home Inspectors job is to uncover issues. He works for the Seller and he gets paid to do that job. The Home Inspector will come and spend a day in your home checking to make sure that the home is safe for the buyer. He checks the electrical, plumbing, looks for structural issues, mold, termites and general issues that he feels need to be brought to the attention of the buyer for the home.  I have been in Real Estate for a long time and have never found a home that is perfect, even a brand new build will have some items on that list. The buyers agent will send over a copy of that report so you can see it and generally his agent will suggest a repair list to be done before the buyer will continue with the transaction. If there are too many issues and the buyer chooses to walk away from the transaction, there is little you can do about that. Remember that if the buyer walks away from the sale, you would be obliged to disclose the defects on the list with any future buyer should you not wish to do the repair.

The Appraisal

Once the deal is signed the Buyer will submit his contract and any final documents to the Lender for them to process. The Lender will then send an appraiser out to come and look at the property and ascertain whether the property is worth the money it has been sold for. Your Sellers Agent would have helped you price your property based on recent sales in the area and provided nothing major has happened to jeopardize that analysis, the property should pass the Appraisal. If the home sold on the high end of the price spectrum, your exceptional Seller’s agent may want to meet up with the Appraiser at the house and provide him with any extra information to help him reach the desired valuation.

Buyers Remorse

On a big and emotional purchase like a home or a car, a buyer might start regretting his decision. The reality of the responsibility, the undue pressure of suddenly having to maintain a financial transaction for a long term period becomes a burden and he may withdraw from the sale for a reason or no reason. There is generally a clause in the contract that deals with the Seller leaving the sale and it deals with consequences and actions the seller can take if any. Often the Buyers agent will be able to quell his fears and the transaction will continue.

Sellers Remorse

The Seller can find himself in the same situation. He wants to sell his home and then decides that he has made a bad decision and he should stop the transaction. This is a little more challenging as there would be consequences to this decision and could involve a law suit and penalties.

Buyers Finances Are Not in Order

Despite a pre-approval, a great appraisal and an almost closed transaction, the Lender may check that the buyer has kept his end of the bargain looking after his credit and bills. If there is anything untoward in that final check, the Lender can withdraw their approval and their financial arrangements in the transaction. There is little you can do about this. The Lender when he meets with the buyer originally will tell the Buyer not to do anything to jeopardize his credit. The Buyers agent will warn him too.

Documentation

Documentation needs to be in order from all parties involved in the transaction. Sometimes there is a small matter that needs to be cleared up and generally this can be attended to momentarily, however, its a good idea to be sure that all parties know what they need to have ready for the closing.

Final Walk Through

The Final Walk Through can often be the biggest hurdle. The home needs to be left in a good and clean condition and all the appliances, electrical and plumbing must be in a good working condition. Anything written in the contract needs to have been completed and items conveying with the home must be in place. If anything is amiss, the buyer can walk away from the transaction if its not remedied immediately.

With all the above items in mind, there are many things that can happen before a home sale can be celebrated. It is important to employ the services of a good Buyer or Sellers Agent to assist you through the transaction. A Realtor with experience will be your ally and help you through the negotiations, the repairs and ensure that the conditions are completed on time.

Michael and Sara Gaddy are a husband and wife team and are your allies whether you are buying or selling a home. They have the experience to help you through the transaction and they have the knowledge to make sure that your transaction gets to closing with the least amount of hiccups.

Call Michael Gaddy 704-975-4651 or email Michael@MGaddy.com

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Real Estate Team vs Real Estate Solo Agent

June 15th, 2017

Thoughts about Real Estate Teams vs Real Estate Solo Agent

Its often a difficult choice whether to choose to work with a Real Estate Team or whether you should work with a Solo Agent. Its a personal decision at the end of the day, however, here are a few thoughts about working with a real estate team vs working with a solo agent.

Should I work with a Real Estate Team or a Solo Agent?

Team: When you work with a real estate team you have the benefit of many people doing the job for you. Each would have their experience to bring to the team and that is wonderful if you don’t mind dealing with many people. There is generally someone you can talk to at any time in the transaction and for the most part, admin and back up staff will have some knowledge of your transaction.

Single Agent: When you work with a single agent who has control of his/her own transactions, you know that agent needs to be on top of the situation at all times, so they are almost always in control and they are there to assist in the transaction from start to finish. You know who you are calling and even though they may not get to answer your call straight away, they will be your permanent contact person.

The Client Experience

Team: When you work with a team, each member is accountable for their work – however, it is important to know who the Team Leader of that particular team is and find out how ‘hands on’ they are incase the ball gets dropped in the process. Check reviews and ask for contactable references from the last 6 transactions and call and find out how the client experience was.

Single Agent: Look for reviews. Find out how good the agent was on their recent transactions. Were they good through the whole process or which area did they lack strength. Ask for contactable references and see if the solo agent was responsive and pro-active.

Who is Going to Answer Your Call Once Acceptance is Conveyed?

Team: This is an important question. Who is going to answer your questions and take your phone call. Will the agent who did the transaction on your behalf still be your contactable person or do you get allocated a team member to deal with the closing and the paperwork. Teams have a system in place, so be sure you know who your transaction manager is and how to get them directly, including how soon after you call can you expect a response.

Solo Agent: Often a solo agent will use her answering service to take the call if he/she is not able to take it personally. Be sure you ask about the response time and ask whether a text may be an easier option. Often single agents are busy with clients and can find a minute to answer a text more easily than answering a call. Ask what is the best method of contact.

Real Estate Team vs Solo Agent

Team: A team is only as good as their weakest link.  If you choose a team that has been working together for a good while, it is like riding a well oiled bicycle. They get on with the transaction and they know exactly what expectations they have for each other and its smooth sailing as long as everyone is doing their part. Interview your agent and ask many questions, check references and know what to expect.

Solo Agent: A solo agent often has support members within the company that they work for. Sometimes that solo agent may have a transaction co-ordinator who helps him/her with her transaction follow up. The solo agent may also have an assistant who helps on an adhoc or part time basis. It is important for the solo agent to see the transaction through from start to finish, so he/she is generally involved with you from the beginning right to closing.

The Answer

Should you employ a Real Estate Team or a Real Estate Solo Agent. When you interview the agent, ask the appropriate questions, call the LATEST references and check the reviews. Then make your decision.

Gaddy Group

When you employ the Gaddy Group you have the best of both worlds. Michael and Sara Gaddy are a husband and wife “Real Estate Team.” They pride themselves in doing their own work from start to finish. Michael is the registered real estate agent and Sara is the admin and follow up for all the transactions that they do. They are hands on in all areas of their business and they are a great choice when you are looking for a the right real estate agent.

Call Michael or Sara Gaddy and ask about their references and let them work hard to help you buy or sell a home

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20 Relocating Tips and Tricks for a Smooth Move

May 31st, 2017

Relocating?

Whether you are relocating house or relocating country, the tips are almost the same! Being organized is probably the key to a smooth move, but here are 20 different ideas to put into motion when relocating to a new City, State or Neighborhood.

Relocating Family unpacking boxes in the living room

  1. Find a local realtor to assist you – someone with experience and local knowledge. Read our post of How to Select The Right Real Estate Agent
  2. Choose your neighborhood carefully – it can impact your experience of your new city
  3. Visit in person don’t purchase a home without looking at the neighborhood, house and the location
  4. Make a list of things that need to get done before you embark on the move
  5. De-clutter – get rid of stuff you have not used in the last year
  6. Start a packing timeline – then stick to it, if you are not using a removal firm
  7. Pack a First Night Box
  8. Then box number 2 – the next most important things you will need
  9. Stay organized – prepare for the unexpected – know where the first aid box is and the tool box
  10. Write which room the box is for, then color code the box tape so you can easily spot each room items from a glance. Write a quick synopsis of what is in the box
  11. Removal firms – check their client reviews
  12. Does the removal firm use their own staff and trucks or are they subcontracting the move?
  13. Have an arrival plan and unpacking schedule – tape it onto a door/window so its easy to find when you cannot think straight
  14. Pack out the beds and make them up straight away – that way, when you are tired, you do not have to wonder where your bedding is, or still have to make the beds
  15. Kids rooms, make sure they are packed out quickly with at least their familiar bedding and toys around them.
  16. Have a checklist of things you need to do when you get to your new location – utilities, cable, schools, doctors, dentists
  17. Find your neighborhood resource (like the Nextdoor or Facebook Group) and ask for recommendations for doctors, dentists, etc
  18. Become local quickly – find the new norm and adjust to it – it makes your life easier and your family will settle more easily
  19. If your children have good friends in the neighborhood / State you left, setup a phone call / Facetime or Skype call so that they can connect and they won’t feel quite so lost without their buddies
  20. Familiarize yourself with your new area – look at the map and find the main attractions, that will help you understand locations more easily

Your realtor should be a great source of information when you are relocating. You can ask them for the local information before you ever consider the move. They should have a resource folder with relocation information that could help you on your way to settling more quickly and easily.

Moving to the Carolinas? The Gaddy Group are locals – we relocated here many years ago and we have a great amount of local knowledge and information that we can share with you. Please contact us, we would love to be your guide to a happy lifestyle in the beautiful Carolinas.

Copyright: wavebreakmediamicro / 123RF Stock Photo

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How to Improve Your Credit Score

May 20th, 2017

Tips to a Better Credit Score and Mortgage Options

Fix your credit score red tool box

 

When considering purchasing a home, it is important to know your credit score. If you have a low FICO score, you may want to fix your credit first before applying for a mortgage.

Here are some things you can do to improve your credit score:

Credit Cards:

  • Always keep your credit cards paid on time
  • Pay the minimum balance if you cannot afford to pay more
  • If you have missed payments, catch up the outstanding amounts and then keep them up-to-date
  • Payment history is important, so pay regularly and never miss a payment

#Tip – Try not to spend more than half your credit allowance. That seems to be the magic number to keep your credit score improving.

Paying Your Bills:

  • As with your credit cards, paying your bills on or before due date is critical to keep a good credit history
  • Mortgage lenders, like to know that you pay your bills regularly
  • At least six months credit history is important as it shows a responsible pattern of payments and improves your credit score

Store Cards:

Store cards are only valuable to the shop where you asked for credit. Try not to use store cards, they do not enhance your credit score and if you are late paying your bill they are quick to report your late payment. Their value to your credit history is minimal.

Do Not Open More Accounts 

If you are considering purchasing a home, do not go and buy more items on credit. Keep a stable and improving credit history in order to get a mortgage. Once you have purchased and closed on a home, you can consider more credit, but until then, its a good idea not to change anything that may jeopardize your credit score

Getting Pre-Approved for a Mortgage

Find out more about the various Types of Mortgages here

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Copyright: iqoncept / 123RF Stock Photo