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Are you worried that listing your home in winter is a bad idea? Watch as Brian Mullins, CEO of Rose Rock Realty explains why winter might just be the best time to sell your home!There is an art and skill when it comes to selling your home — knowing how to market your home correctly, the condition of the house, and the seasonality. In this video, we are going to be going over the seasonality aspect of it.The Fall and Winter are the slowest seasons in real estate, but as someone who is looking to sell their home, it might be the best time.
0:20 - Low Inventory The definition is "a complete list of items such as property, goods in stock, or the contents of a building." Most people looking to sell their home is during the Spring and Summer, so when Winter rolls around, not a lot of people are selling. The buyers who are looking to buy don't have many choices, making your house a top contender.
1:14 - Buyers Are SeriousDuring the spring and summer, you get a massive influx of people who are arent serious in buying. They are just curious to see what the house looks like inside. During the winter, most people are usually indoors, avoiding the cold, so when they go out an request to see a home, they are typically serious in making a move.
2:16 - DecorationsSince it's winter, this gives you a chance to decorate it and give the house a homier feel to it. Remember, when you're selling, you want the client to envision a future in that home, get them excited about it. So whip out the Christmas lights and make it feel like home.
If you enjoy real estate and community-based content, make sure to like our page! We are continually releasing great videos on how to buy homes, what to look out for, and other goodies you definitely don't want to miss! You can also keep up with our newly released videos, and check out some of our older content by subscribing to our youtube channel: https://bit.ly/2rR9O7v If you're looking to purchase or sell a home in the Oklahoma City Metro, visit our website at https://www.roserockrealty.com/ and schedule a time to talk!
Welcome to video 3 of 3 of how to buy a house, I'm Brian Mullins CEO and owner of Rose Rock Reality. Today we're gonna be talking what happens once you go under contract, once a buyer and seller have agreed on the terms of buying a home.
Number One: Order The Appraisal
We order the appraisal so as soon as we go to contract the lender is gonna call you
and say hey congratulations on going under contract let's get your appraisal ordered and so they're gonna collect $500 from you and then they're gonna turn around and order the appraisal.It's a third party it's going to come out and look at the house to make sure it meets value. So here's the question why do you need an appraisal? Well this is usually a
lender requirement that they want to make sure that the money they're loaning you is on an asset that it's worth at least what our contract says it's worth. Now there is some very very rare circumstances where you can get away not doing an appraisal you have to have a
really high credit has to put a lot of money down that's not really a typical situation for most buyers so keep it in mind you're almost always going toward an appraisal if you are using a loan, paying cash no appraisal is necessary it's up to you if you want to do an appraisal on at that time.
Number Two: Schedule Inspection
So your Realtor should help you here and get inspections scheduled so they will give you a list maybe or they'll just ask you if you want to subscribe to inspections so we'll schedule inspections now why do you need an inspection this is one hundred-percent required this is purely optional some lenders going to indefinite require a termite inspection but a general property inspection is almost never required pretty much never
required so why do you need one well we want to make sure that there's nothing
hidden in the house we want to make sure that you understand what maintenance
items might be coming up you know if you're buying a new house early
shouldn't be any maintenance items but you're buying a new house there's gonna
be maintenance items that the seller maybe not doesn't mean to do yet maybe
they're you know years out from doing them but that inspector is also gonna help
you understand what you need to do in two years because it's time to replace
whatever so we're gonna do the inspections to make sure that the house
is in good shape and if there are any issues we can deal with those before we
Number Three: Negotiate Repairs
Well we've got inspections now and there's something wrong with the house so we can ask the seller to make repairs to the home now we're not going to go in we're not gonna ask them for all kinds of crazy things we're only looking at major items that need to be fixed so a foundation problem or the air conditioner isn't working something that's a big-ticket we're not looking for cosmetic things we are looking only for major items if the paint you don't like the color the paint paint when you buy the house but we can't ask the seller to do it because we're only looking for a functional defects on the house and paint and cosmetic is not one of those so we're going to write up a list and we're going to send it to the seller we're gonna have a week to negotiate if they are going to be willing to make any of those repairs and as long as we come to an agreement and we move on with the contract.
Number Four: Final Walkthrough
Do the final walkthrough so we've done inspections they've agreed everything
we've got the appraisal back came in at value maybe a little more that's awesome
that's awesome if that happens so then before is we get to go do the final
walkthrough so we're gonna go we're gonna look at the house we're gonna make
sure a couple things one that the stuff we requested and what we agreed upon for
the seller to fix is fixed from our inspections and to risk on and general
make sure the house is in good shape we're gonna make sure they didn't take
the carpet with them we're gonna make sure they can take the fireplace with
them you know stuff like that we're just gonna make sure the house is in good
shape we're not gonna promise the houses have been cleaned some sellers will be
nice and clean the house won't believe it full of cockroaches but that's not
really a functional defect of the house that's just the house so we're going to
go we're gonna do a final walkthrough make sure the house is in good shape
we're gonna usually do this the day before the day of closing just kind of
depending on your schedule and on the the time that we're gonna close on the
house so we're gonna go we're gonna look at the house we'll be there ten and
fifteen minutes and then we'll get ready to go to closing.
Number Five: Finale, Closing
This is the fun part you're gonna own a house at the end of this now you may be bringing
money in the clothes or you may be getting money from clothes it just depends on how we negotiate the contract and how much you're willing to bring the clothes so we're gonna go to closing you're gonna need to get a check or give a check depending and you're gonna sign your life away as a buyer especially if you're taking out a mortgage it is a big
stack of papers that you gotta sign there's a lot of legal documents that you're gonna have to sign you're gonna sign your life away a whole process is going to take about an hour the actual signing will take about 10 to 20 minutes of signing everything and once we're done with that we're going to send all the documents to the mortgage company
they're gonna approve everything once they're approved and we're done the
sellers are gonna sign the middle bus process as well and then you own a house
yay it's exciting it's fun and it's the end of the transaction pretty much now
it's not the end of relationship with your realtor we continue to use them as
a resource and you know we never assign move again make sure you call a realtor
and get started on the process all over again.
So this is the end of our three-part series about how to buy a home if you enjoyed this video make sure you like subscribe share whatever you want to do send a postcard to somebody and tell them oh it's you liked the video but make sure you check out our
other content that's coming up and that's already on YouTube Facebook wherever you can find us check out all the videos and all the content we have your question don't hesitate to call us or find us online at Rose Rock Realty thanks and have a good day.
This is video of two of three of how to buy a house. I'm Brian Mullins CEO and owner of Rose Rock Realty. Be sure you check out the first video if you haven't already seen it and the next video after you're done watching this one. Today we're going to be talking about contracts and how to write a contract and make an offer on a house.
Number One: Make An Offer
So in the last video we found the house well now it's time to make an offer on the house. now there's a lot of things that go into this not just the price but the price is obviously the most important thing. So, this is when you're gonna have a really good realtor the realtor is gonna go in they're gonna look at the comps they're gonna look at a lot of different things in the cops so we're gonna be looking at the house and how close it is so we're gonna try to find homes that are close and then we're gonna be looking at the price they sold for the condition that they're in and we're gonna be looking at the seller concessions and the type of loan and/or cash that they use so gonna be looking at all of this to help come up with a suggested price to make an offer from the new house that you are interested in we're also gonna ask you some things that we need to know whenever it comes to buying a house so concessions we'll talk about that in another video but we're gonna ask if you mean concessions we're asked about home warranty we're gonna have a closing date and we're gonna be looking at our inspection period how long we have the title company that we're going to be closing at all that is going to be important whenever it goes into writing an offer to make sure that the offer is well put together and put you in the best position when we're coming to negotiations step.
Number Two: Write The Contract
Writing the contract now this is the easy part unless you're the realtor but for the buyer what you're really going to do is take all the stuff we talked about in step one and put it into a contract all you have to do is sign everything now whenever you get a contract from realtor you're going to get an estimate and that estimate is gonna include what we ask to make your payments to be and your what your bring the closing as how much money
you have to bring the closing how much money you gonna get from closing so that's the main thing you need to look at so the contract should be written to reflect what that one sheet says you're gonna look at that sheet as long as that good you can read through the rest of
the contract to make sure that math is up but you're gonna get the contract and most of the time it's gonna be digitally so you're gonna get an email you go on there you tap tap tap tap tap to sign it's super easy and then you really don't get notified that you're done and then they will turn around.
Number Three: Submit The Offer
What happens after we submit the offer well there's three things that could happen one we could have them accept the offer which would be the ideal situation because we know we're okay with what we submitted at least we should be so they could accept the offer and then we are officially under contract - they could counter you so this is where we enter a negotiation period so they're going to say no we won't take this price we'll take this price they can also negotiate stuff other than just price we could be negotiating concessions closing date title company anything like that they have the right to counter back on so we're going to even you might get a counter or they could just find out reject us number three they could just say no we're not gonna take it now if that happens we could either move on to the next house or we could revise the offer we don't usually see a lot of rejections unless it's a super low offer usually they accept or they counter because the seller wants to sell the house now you might see a rejection if you end up in a multiple offer situation so that is kind of somewhere in between a counter and a rejection that would be they say we have more than one offer so everybody submit their highest and best so they're only gonna be able to taste up to one which is sad because
only one house and even if you love that house someone's got to win someone's gonna lose so that's always the possibility whenever they're going into negotiation so that's how you write an offer and negotiating an offer when it comes to buying a house.
So this is video two or three be sure to check out the next video where we talk about what happens once they accept the offer once we have an accepted contract so thank you so much for watching and be sure to check out our next videos coming up soon.
Yes we hear that realtors don't do anything and they're highly paid but the truth is there's a lot that goes into your real estate transaction. You have to do inspections and contracts and we've got to do financing and you've got to do closing and all the different aspects that go into it. Your Realtor serves as the conductor for the orchestra there's a half a dozen people are more involved in your transaction and the real estate agent is up the middle of it so yes you can do it yourself but a realtor is here to help you to make sure this is an easy smooth transaction because I promise you it is a can be an absolutely crazy mess whenever it comes to real estate also whenever you buy a house most homes are listed with the realtor. 90% or so are listed the way their contractors written is even if you don't have a buyer's agent they could keep all the commission so that money is still getting paid to a listing agent whether or not you have an agent or not and so you you might as well have an advocate on your side doesn't cost you anything and of course if you're looking for a realtor we suggest here or ability to use us if you're in the Oklahoma City metro or if you're somewhere else in the country make sure you find a good independent broker to help you out and buying your home
Number Two Find A Lender And Get Pre-Qualified:
I would suggest using a lender recommended by a realtor you don't have to but it does make the process a little bit easier and here's the reason why really I don't make any money from from using their lender it's illegal if they did they'd have to disclose it and then usually it's only gonna be the broker may own the mortgage company but it's illegal for a real estate agent to make any money off the transaction from the lending side but what it does do is if they have a really good working relationship it's gonna make your transaction so much easier because they already have a really good relationship to it sets realistic expectations whenever you go to look at a house let's say you go and look at a $250,000 house well what's your only call five one hundred and fifty you're gonna set the bar at that two hundred two thousand dollar house and nothing $150,000 price point is gonna match that 250 thousand dollar difference so this will help you set really realistic expectations going into the home buying process next you have a clear view of the cost to buy a house you're really can help you kind of get a basic idea but what the realtor doesn't have is your credit score so there's a lot of things that go off the credit score like your rate and your mortgage insurance all that will kind of covered in other videos but there's a lot of things that go into determining what your costs are and a lot of it's related to your credit and your financial situation which we don't have the builders so the lender will help you understand that in a very very clear way and number three the sellers will take you more seriously so if you submit an offering you don't have a pre-qualification letter from the lender well they're probably not really going to really consider you know in Oklahoma it's not required that you have that pre-qualification letter but it is highly suggested and especially if there's other people submitting offers they're gonna want to see that paper application lender so get pre-qualified it'll help you in your home buying search.
Number 3 Start Looking For Homes:
This is the fun part this is what you really want to do so what you do is you'll go online shameless shameless plug go to Rose Rock Realty.com make sure you check us out we have all the listings update over 15 minutes shameless plug over alright so you go online or you come in to your Realtors off and you look at homes so you find homes that are of interest now remember pictures can be deceiving but we're gonna look at neighborhood we're gonna look at bedrooms bathroom size price we're gonna find a home that fits based upon what you're qualified for and we're gonna go out and look at homes now whenever it comes to actually physically looking at the home we don't like to look at more than three or four per day or at least for time that we're showing so you know we're going to go if you find six homes we'll split those into two different times they'll look at it so I'll do three and three apiece because if you really do more than four they all just start running together so we go out we look at the homes we're not doing inspection on the house we're gonna do an inspection later I mainly looking to see if this home fits our criteria and if it does and we will look at being putting an offer in but that's our next video
Thanks For Watching/Reading:
stay tuned for that so thanks for watching part one of three of how to buy a house so make sure to like subscribe share all that wonderful stuff if you've enjoyed this video make sure you stay tuned for the next video which we're going to be talking about how to write a contract and what we need to look at when we're writing a contract so thanks and have a good day
Are you tired of the old-school way of finding new clients scrolling through your phonebook and calling all your friends and family until they don't like you anymore well that may work but it's not the most effective use of your time.I'm Brian Mullins CEO and owner of Rose Rock Realty. Today we're gonna talk about three ideas to use a digital profile to increase your sales increase your business in real estate.
use your existing Facebook profile. Yes it's good to have a facebook business page so you can post content exclusively on there but why not use your existing Facebook profile you probably already have hundreds of friends. If you go and create a new business profile you're gonna have to have an uphill battle trying to get people to like your page, use your existing page, make it about real estate change your cover photo to make sure everybody knows that you're in real estate you're already gonna capture the attention of your friends and family who are your most likely clients and most likely people to refer you.
Don't just post about real estate. Yes you've got your facebook profile or your business profile supplies to both but people who are following you don't just want to see that you're at an open house or that you've listed a new house so if you sold a house it sounds like you're Tooting your horn that, you're arrogant. What you need to do is you need to be real, be you, post engaging content that people want to see you've got a kid, post about the kid, you got a chicken post about the chicken. Whatever it is that is enticing about you talk about it all you're doing is you're keeping yourself at the top of your customer potential customers online that's the goal with social media not necessarily to sell them the particular listing that you have for the open house that you're at the goal is to create engaging content so you keep people coming back watching you the algorithms will see that. You'll actually push you up higher in the rankings if you're creating engaging content or you can use content that's created by others like we create content at Rose Rock Realty that you can you like and share on your page that's not just about real estate there's other stuff that you can talk about and that is the ultimate goal whenever you're doing a social media page.
Use video, you may hear that you need to write a blog with long content or you need to post some funny memes those may work but the truth is right now video is where it's at whenever you open up your Facebook feed you can't swipe more than two or three times down lets you find some video that autoplays. To reach your customers create some engaging content it's gotta be engaging from the very beginning because they're scrolling through when they're gonna see your video and you gotta catch their attention in that first 5 or 10 seconds whenever those going through and this goes back to number 2 don't just create real estate content create real content about yourself about your life make it engaging whenever you're on video and talking to your potential customers and that's how you're gonna get referrals and that's how you're gonna grow your real estate business and those were my three tips on how to increase your business using social media and digital marketing strategies that are all completely free don't cost you a dime all you need is a cell phone, consistency and dedication if you're ready to get started or to make a change in real estate call us here at Rose Rock Realty where you'll become the CEO of your own business thanks and have a good day.
It’s that time of year again, tax time! All of your tax documents should be in and now you can file your tax return. Federal tax refunds are processed fairly quickly, so what should you do with the money? This isn’t free money from the government, it’s money the government has been holding from you all year. It’s not wise to just spend it on anything, invest in yourself or your family.
Emergency Savings: You should always have a three-six month emergency savings account. We suggest having a long term disability policy to kick in after 90 days so you don’t run out of emergency savings. If you don’t have the savings account this is your first priority to set up.
Pay Off Debt: some debt can be useful, but unsecured debt is very dangerous. Rates on a credit card can exceed 20% and many rates have risen in the last year. It can be very difficult to pay off when you are paying a high-interest payment. However, if you are interested in buying a house, consult a mortgage expert on how much to pay down until you close.
Buy a Need: Know what is a need or a want. You don’t need a new Ford Mustang, but you might need a root canal.
Buy a House: This is our favorite one! For most Americans buying a house is a childhood dream. But, it’s not cheap, there are ways to decrease the cost, but you will still need furniture, appliances, and more.
Donate to a Charity: There are plenty of charities out there that could use your help. It gives you a good feeling, plus it may help lower your tax bill for next year. If you are looking for good charities, we suggest our friends at Serve More.
Invest in a Tax Shelter: That may be a funny word, but there are plenty of ways to invest in your future while lowering your taxable income for next year. An IRA is a great way to invest in your retirement or a 529 to help your kids get through college.
Spend it! If you are all set with your savings, little debt, no needs, love your house, and give lots to charity then just spend it! There is always something that you want, go buy that Maserati.
This is just a short list of what you can do with your tax refund. There are lots of other ideas, but these are some of the best. If you are considering buying or selling a home as part of your tax refund plan, we’d love to help.
You call SW OKC or Moore your home? Or maybe you are thinking about moving to the area. But, your friends are telling you that there's nothing to do? It's true that the area is mainly suburban with lots of rooftops and big box stores, but there are lots of fun things to do in the area these days. I've lived here my entire life, back in the 80's and 90's, there really wasn't much to do, today so much has changed.
1. Catch a movie at The Warren! People come from all over the city to catch a movie at The Warren. It may not be the same since Regal bought it, but it's still one of the nicest movie theaters in the area. If you are without the kids go upstairs to the balcony or directors suites, enjoy dinner or a drink, while being treated like royalty.
2. Visit Orr Family Farm. Looking for a place to let the kids explore and get a taste of the area back in the day? The Orr Family Farm is the place to go to have some good clean fun. Enjoy the Pumpkin Patch in the fall, Christmas lights in the winter, see farm animals, hunt Easter eggs, or any number of things. This is a great asset to have close to home!
3. Enjoy a day at Buck Thomas Park. Moore has many parks, but Buck Thomas is the premier park. With 130 acres of fun, from tennis courts to football fields, to playgrounds, fishing ponds, dog park, and walking trails there is something for everyone. Pack a picnic and enjoy!
4. Enjoy another day at Earlywine Park. This is very similar to number 3, but this is on the west side. Earlywine is unique with a YMCA on sight, public pool/splash pad, golf course, and beautiful walking trails. This was the park that I grew up in and I love seeing the park mature with the trees getting even bigger.
5. Check out 19th Street. Yes, this is the big box district, you can go to Walmart, Target, and Home Depot in just a few minutes. But, there are lots of local options too. Check out some of our local restaurants in the middle of the big box stores, like Hummus, Pho Lan, Hideaway Pizza, Oliveto, 1907, Panang, and many others.
6. Go to Central Park/The Station. This is the newest addition to this list. I grew up going to the old Community Center and Moore Pool. Both have been replaced with Central Park. There is a great walking trail, playground, public amphitheater, farmers market, pool (with a great lazy river), basketball court, and a full fitness gym. This really is the place to gather in the center of Moore.
As you can see there are lots of things to do in the area. One of the great things about the area is that it's a short drive to downtown Oklahoma City or Norman, which has more options for you. I love this area of town, it's home for me! It has changed so much and continues to change. I am a frequent visitor to all these places, so you may see me with my family at any of them.
If you would love to make this area your home call us anytime at 405-692-0663!
I hope that you had a good summer, but now the school bells are ringing again, summer vacations are in the books, the days are getting shorter, rush hour traffic is back, and home buying "season" is over. Wait! Home buying "season"? Shouldn't a Realtor say "It's always a great time to be in the market?"
Well, I'm glad that you asked! There is most certainly seasonality in the residential market (as can be seen from the chart), but there is always a housing market. So, let's look at today's market to get us the pros and cons of our current market!
Pro: Our inventory has risen faster than demand for homes. This spring we were short on inventory, today we have way more inventory. More supply means that our market has shifted in the buyer's favor! You have more choices of homes and may be able to to get a better deal.
Pro: Interest rates are holding steady. Many had predicted that interest rates would rise above 5% on a 30-year mortgage by now, but we have been holding steady between 4.5% and 4.75%. You may remember a couple of years ago we were at 3.25%-3.5%, but even 4.5% is much cheaper than historical rates.
Con: We have already started to see inventory levels fall a bit since the end of July, but not enough to shift the market in the seller's favor. This means the longer we wait though you will have fewer housing options. We are just below the peak, but the "good ones" may already be taken.
Really it comes down to when is the best time for you and your family to move. Did you get a new job on the other side of town? Might be time to move closer. Your kids don't like their school? Maybe move to a different district. Or, maybe you are just tired of your old house and want something new? No matter the reason, the housing market will always be cyclical. As inventory drops so do the number of buyers. The chart shows that inventory lags closed sales by a month or two, but it will equal out.
If you have any questions just give us a call at 692-0663!
There are a lot of Realtors out there, why should you hire Rose Rock Realty? The answer is simple: the Rose Rock Difference.
We genuinely care about our customers and aren’t worried only about the bottom dollar. We understand that no matter which price range you are looking at, this is a big purchase for you. I’ve always gone into business ventures with the attitude to treat people the way I’d want to be treated, which is with genuine compassion. This is a trait that you will find throughout the whole team.
The advanced knowledge of real estate we provide. Even on my first transaction, I was complimented about my knowledge of the business, they thought that I’d been doing this for years. I don’t want to sound like I just have a big ego, but I want to demonstrate how industry professionals recognize my experience compared to other agents. I have gained this knowledge by my lifelong interest in real estate, followed by my studies in real estate and contract law through business school, then five years of real-world experience in commercial real estate management and my own personal rental management. This knowledge is taught to the whole team. But, I don’t know everything, so I’ve surrounded myself with industry experts, so if there’s something I don’t know, I can find out.
Up front attitude towards all transactions is our style. If you want an agent to coddle you and sugarcoat the truth, then we aren’t for you. But, if you want to know the truth in a straightforward manner, then you found the right team. Sometimes you may look at a house that is priced way too high, and I will be the first to communicate that fact with you. Some agents would just let you pay the higher price so they get more commission. I want you to be happy with your purchase in the long run, which will be better for me in the long run too.
Technology is our game! The average agent in 2016 is a 53-year-old female with some college. We are a group of millennials who grew up around technology, but we are old enough to remember days before computers. We constantly are striving to find new ways for technology to help our business. We understand online and social media advertising, which is difficult to find in a realtor, especially in Oklahoma. All of our contracts that can be paperless, are paperless. Does this mean that we can’t work with other generations? No, we strive to make our technology easy for all of our clients to use, young and slightly less young alike!
You get a whole team for the price of one agent. A lot of people don’t realize that real estate agents are completely independent contractors. If you had a good experience with an agent from a big name brokerage that does not guarantee the same quality of experience if you hire another agent from the same big name brokerage. Why? They are all completely independent. Our team is small now, but will not be for long. Sara is in training to be a transaction coordinator and we have a buyers agent in the pipeline. So, when you hire us you get a collection of people who have specialized knowledge in different areas of real estate, and a consistent experience by having processes setup for the whole team.
There are lots of other reason that you should hire Rose Rock Realty. I have worked many long hours to develop a process to provide you the best experience. I will be glad to answer any of your questions about real estate, just call me at 405-692-0663.