Take Pictures Now

Preserve the memories you’re making by taking photographs of your home now. The pictures will remind you of the role your home played with your family and life.

Reminiscing is easier when scrolling through pictures to remind you of people and times. One of the least heard regrets is that we should have taken more pictures.

Shots to consider:

• The front of the home from across the street    
• Times when your yard and plants looked exceptional
• Holiday decorations
• Special occasions in the homes like birthdays, anniversaries, graduations, etc.
  Home improvements
• Major purchases for the home
• Times when the home looked the best and the worst
• Family, friends and pets in the home
• Your children’s height marks on a door frame
• The view from a favorite window

From an organizational standpoint, put the pictures in a folder with your address as the name. Even if you don’t take time to name each picture, you’ll have the file date to identify when it was taken. Since the cost of film and processing has disappeared, there is little reason not to chronicle your life in pictures.

What separates "ordinary" Real Estate Agents from the "elite"?

Mystery solved.  I know the answer.  It is all too clear.  Unfortunately, however, I am not going to reveal a "magic pill" that makes some agents super-effective while others can't seem to get it going. (You can probably get these online in an infomercial, though it may get something else going instead!)

It isn't about "time management," after all, we ALL have the same 24 hours in a day.  How can you manage that?  You cannot.  You can, however, manage what you DO with your time.  And this seems to be a key component of super-agents.

The hard truth is that average agents are "spontaneous and reactive," meaning if someone calls them or if something falls in their lap, they jump away from their Facebook and emails (i.e., their "distractions") and react to the outside stimulus.  In fact, many are downright competent when this happens!  These competent, though low-producing agents, are the hardest to help understand what it would take to move them to high-productivity.

Are you ready for "the answer?"  It is about moving from being "spontaneous and reactive" to becoming "intentional and proactive."  My favorite way of explaining this is to simply say, "move from waiting for the phone to ring to making it ring."  This requires the agent to focus on the activities that make the phone ring.  All day.  Every day they work in the business.  Somehow, this is the secret to the pathway to super-success.

SPAR:  Study - Practice - Act - Repeat

There's the formula.  But as an analogy, take a look at "losing weight."  Eat <1500 calories daily of lean meat, green vegetables, and salads (sans dressing).  This is a good formula to lose weight.  But we all know it, and continue to reach for the ice cream.

The best way to lose weight that I've found is to get on a program like Weight Watchers.  So, the best way to move from being "spontaneous and reactive" to "intentional and proactive" is to get on a program that helps you focus on the desired results, one day at a time.

And I'm proud to announce that I have designed such a program -- the first of its kind -- to begin June 15, 2015 only at RE/MAX Top Realty.  This is a serious, step-by-step implementation of every vital activity identified in the sales agent model.  12 weeks of high-intensity, daily SPAR activities designed as a program to keep you motivated and on track.

I know that the most successful agents in the business -- I work with many of them -- have a written system with a daily plan that is executed religiously.  Do you?  At the end of our new PROJECT: NIKE, you will.

If you really, really, really want to succeed as a real estate agent, you must check it out.  Space is extremely limited, and at the time of this writing, 2 spots are open.  Interested?  Call Timothy Hampson at 713-558-2555 today.  It's all about YOU.

RE/MAX Top Realty is one of the largest RE/MAX offices in Texas and is home of TopRealtyUniversity.com, a complete agent development program based online, in-class, and developed by top producers for those who aspire to the top.

Cash Talks in the House Buying Game

If a seller was looking at two offers for exactly the same price on their home, there would still be things that could make one standout more than the other. If there happens to be more than two offers, things can really get sticky for a buyer. For that reason, it is good to craft the most attractive offer possible because even if you don’t have competition now, another offer could come in during negotiations and derail all your efforts to that point.
Anything that can give the seller the peace of mind that one contract will close on time and as agreed will make them more comfortable in accepting one offer over another. Buyers can consider putting up larger than customary amounts of earnest money and limiting the contingencies to only the most essential items.
The closing costs could be more expensive to the seller based on the type of mortgage a buyer is obtaining. One buyer may be asking the seller to pay part or all of their acquisition costs and the other buyer is paying their own costs.
The borrower who has a signed, preapproval letter will appear to have a greater certainty to closing than a buyer who only says they have talked to a loan officer. Some lenders' letters are considered “gold” and others may not be worth the paper they’re written on. The seller will depend on their listing agent to advise them.
In most cases, the seller will be taking all or part of the cash they receive from the sale of their home and buying another one. If they have to put a contingency clause in the contract based on their current home selling, it weakens their position. Conversely, it will strengthen a buyer’s position if they don’t have to make their offer contingent upon selling their current home.
Even shortening the inspection periods and offering to close early or possible lease the home back to the seller for a short time can be valuable negotiating factors.
Finally, don’t overlook the value of a personal hand-written letter that tells the seller why you want their home. An emotional connection has been known to make a difference for one set of buyers getting the home.
The REAL difference, however, is the cash down payment.  Yesterday, we received 25 offers on one house listed for $215,000.  All offers were above the list price, so how (as the seller's agent) does the seller decide which one to accept?  It came down to which one had the most cash and was willing to pay above the appraisal amount, in case the appraisal came in lower than the sales price!  None of us expect the appraisal to come in as high as needed, so this became the deciding factor.
I received a call from one of the buyers who "was in love" with this house -- I'd met her and her agent at the open house we'd held, and I felt badly for her.  Although well-qualified, she had the minimum required down payment to invest which made her offer susceptible to a low appraisal.  And as I told her, there was nothing she, I, nor her agent could do.  She was trumped by cash, which, as we all know, talks.

Want to know how you fit in today's market?  Call or email today, 832-200-5656, SamF@Remax.net. Get savvy advice.  Get Sam.  Get Sold.  Get with it!

Real Estate Pros: Who would want to be without one?

When the 75 year old man who had been widowed four times was asked why he was getting married again, he said “for the little bit that they eat, I wouldn’t want to be without one.”
In a torrential rainfall, you wouldn’t want to be without an umbrella.

It is also understandable that when purchasing or selling a home, more and more people want an agent involved.
NAR’s Homebuyers and Sellers Profile states the trend in owners trying to sell their home themselves has declined over the past ten years from 14% in 2003 to only 9% in 2014. Similarly, the number of buyers purchasing directly through an owner has decreased from 2001 to 2014 from 15% to 5%.

It is natural to think that a seller wants to get the highest price for their property while the buyer wants to pay the least possible. Negotiations may be the most valuable service provided by an agent because of the clear conflicts of interest such as the price, terms and condition.

Other areas of contention that could affect a party without an agent:

• The real estate agent who represents the other party
• The attorney who represents only one party
• Home and pest inspectors regarding condition
• The buyer’s lender regarding terms
• The lender’s appraiser regarding value
• The title company in an effort to satisfy challenges to clear title
• Municipal authorities to mitigate code violations

 Even when there are two licensed agents involved, there could be a question of representation. This is a discussion that buyers should have with a real estate professional before looking at houses.

At RE/MAX Top Realty, we are an office full of abundant agents who know how to help you achieve your real estate goals.  And with over 40 years experience working with buyers and sellers every day, no one is more experienced than The Sam Team at The Top!  Call us and get started.  832-200-5656.

You've Got Money!

Imagine that after checking www.SSA.gov to see what you can expect when you retire and estimated what your minimum required distributions from your retirement accounts will be, you’ve discovered that you’re not going to have enough retirement income to cover your living expenses.

 
Ideally, it would be perfect if the extra money you need would just come to your mailbox each month with the same certainty as your social security or retirement income.

Rental homes are a popular choice for passive income because they are an investment that most people understand based on their experience owning a home. They’re easy to manage and the rents should keep pace with inflation.

Mortgage loans for investors are available to investors with good credit and at least 20% down payments. While 30 year terms are the most common, some investors wanting to have the home paid for by retirement may choose a 15 or 20 year term.

A tried and true strategy is to choose average or slightly below average priced homes in predominantly owner-occupied neighborhoods. This will appeal to more prospective tenants wanting to live in good communities and should provide a higher level of revenue.

When an owner has a good property with a good tenant, the income is as predictable and convenient as going to the mailbox each month. To learn more about rental homes, contact me at 832-200-5656. I have guided many people in their real estate investments because I have bought, sold, and "held" rental homes for 40 years.  My personal retirement income is based on these . . . want to know more? Call or email me today!  SamF@Remax.net

My personal mission is to help people grow their personal wealth through single family real estate ownership.  May I help you too?  -Sam Ferreri, President, RE/MAX Top Realty

How You Can Live the Dream in Pearland or Houston

Consumers are more easily living the American Dream of owning a home because of the incredibly low mortgage rates. Today, most buyers can get a much lower rate than their parents or grandparents got on their first home.

That is, IF they can find a home they want and can afford!  At the time of this writing, the cost of the American Dream is rising due to high demand and low inventory.  Nice, affordable homes are being sought by more and more buyers, making the "offer/negotiation" period more like a "bidding period." Almost every entry-level home that hits the market gets multiple offers in the first week, many over the list price!  How can YOU live the dream?


In a recent housing survey, FNMA released information about consumers' thoughts on the current market. Almost two-thirds would rather buy than rent and believe that now is a good time to buy. Half of the respondents expect rent and home prices will go up.
Top Ten reasons to move the dream to reality:

1. It’s cheaper than renting in most cases
2. Avoid rental increases in the future
3. Equity build-up with amortization of each payment going to principal
4. A home is a forced savings account
5. Appreciation increases your equity and your overall investment
6. Mortgage interest and property tax deductions
7. Home equity interest deduction
8. A place you can call your own
9. A place to share with friends and family
10. Capital gains exclusion on profit

Buyers need the confidence that they can afford a home and proof for the sellers when they’re ready to submit a contract. If a buyer has steady reliable income, a good record of paying their bills, money saved for a down payment and are prepared to pay the mortgage each month, the next step is to get pre-approved by a trusted mortgage professional.

Take a look at the Rent vs. Own to see what the real cost of owning a home for your price range.

And buyers rely more heavily on their real estate agent for the wisdom and market savvy to guide them through the complexities of offer, negotiation, "bidding" when appropriate, "good" lenders, inspections, and much more.  Here is YOUR chance to Get the Advantage of 40+ years experience helping people just like you achieve their real estate dream.  Get with it!  Get Sam!  Get the Dream!

The Sam Team with RE/MAX Top Realty would love to be Your Realtor!  Call 832-200-5656.  Get together!

Amortization - or, What is Compound Interest?

The word describes the process of accounting that will repay a loan over time. Residential buyers will most commonly be required to have an amortized mortgage.

When amortizing a fixed rate mortgage, the payment remains constant for the entire term but the allocation of what goes to principal and interest changes with each payment that is made. Since an amount of each payment retires the principal, the interest due on the next payment is calculated on the unpaid balance after the previous payment was made.
This means that an increasing amount is applied to principal on each payment while the amount owed in interest decreases. If normal payments are made each time, on time, the loan will be completed paid off at the end of the term.

You can see in the example of a mortgage of $200,000 at 3.25% for 30 years that it has a fixed principal and interest payment of $870.41. There is $541.67 due in interest with the first payment and the remainder is applied to principal leaving an unpaid balance of $199,671.25. Since the interest due in the second payment is based on a lower principal, a little more is applied to principal.

If you’d like to have an amortization schedule for a mortgage, click here and enter the information about the loan.


And if you're thinking of buying or selling a home, I'd love to be your Realtor!  Call me at 832-200-5656.  www.TheSamTeam.com