Attracting Home Buyers with Curb Appeal in West Texas

If your West Texas home doesn’t have good curb appeal, home buyers aren’t going to get out of their cars to see the rest of your home, no matter how beautiful it is on the inside. Poor curb appeal will reduce the value of your home and increase the number of days it takes to sale.

Stand in front of your house and give it a good look. While you stand there answer the below questions.

· Do you have weeds?

· Are your shrubs trimmed?

· Is your grass green?

· Is your grass mowed weekly?

· Is your lawn edged?

· Are your plants beautiful or on their last leg?

· Do you have junk in your yard that needs to be put/thrown away?

· Are there oil stains in your driveway?

· Are your sidewalks clean?

· Are your gutters in good repair?

· Is the paint on your home peeling or faded?

· Do you have visible bugs? (Ants, hornets’ nests, beehives, spider webs, termites, etc.)

· Is your curb clean, or is it filled with dirt and trash?

· Are your windows clean?

· Is your front door clean?

· Is your roof in good repair?

· Do your trees need trimming? Are there dead limbs?

· Is your sidewalk or driveway significantly cracked, crumbling, or pushed up due to tree roots?

· If you have front yard fencing, is it in good repair?

· Are the paint colors of your home old and outdated?

If you need help with your landscaping, painting, bugs, roof, fencing etc., please give me a call. I know all the best, most affordable landscapers, painters, pest control specialist, roofers and fencing contractors in West, Texas. Also, if you need someone to come look at your property to help you see what needs to be done to give your home the best curb appeal, please give me a call. I love helping people increase the value of their properties and answering all their real estate questions.

I’m an Expert in West Texas Real Estate and I serve all of the below counties. Thank you for reading this blog, and please check out the rest of my site!

If you’re planning on selling and are in the market for a top agent to make it happen, I would love to help!

We provide real estate services to these West Texas cities - Abernathy, Brownfield, Buffalo Springs, Crosbyton, Denver City, Farwell, Floydada, Idalou, Hale Center, Lamesa, Levelland, Littlefield, Lubbock, Muleshoe, New Deal, New Home, Olton, Plains, Plainview, Post, Ralls, Ransom Canyon, Seagraves, Seminole, Shallowater, Spur, Sudan, Sundown, Tahoka, Tulia and Wolfforth.

We provide real estate services to these counties - Bailey County, Briscoe County, Castro County, Crosby County, Dawson County, Dickens County, Floyd County, Gaines County, Garza County, Hale County, Hockley County, Kent County, Lamb County, Lubbock County, Lynn County, Parmer County, Scurry County, Swisher County, Terry County and Yoakum County.

-Turn the Key to your clean Slate-

Lainie Eilenberger, REALTOR

Key and Slate Real Estate Group

Keller Williams Realty

806-928-4453

Licensed Realtor in Texas

Lainie Eilenberger

Realtor, Key & Slate Real Estate Group

Phone (806) 928-4453

Email leilenberger@kw.com

What is a Listing Agreement?

A listing agreement is a legal contract between you and the Realtor that helps you sell your home. It states you’re hiring your realtor to handle the home sale and authorizes them to find a home buyer. In exchange, you agree to pay your realtor a commission.

Only sellers have to sign a listing agreement, but potential home buyers will need to sign a buyer’s agreement before realtor will represent them.

Signing any contract can be stressful, but it doesn’t have to be as bad as it sounds. Here’s what to know.

What in a listing agreement

A listing agreement lays out the expectations between you and your realtor. The agreement includes details about the process of selling of your home. You’ll want to look it over carefully and make sure you understand everything in it.

The listing agreement includes the following:

· Contact information

· Listing price

· Realtor fees

· Realtor duties

· Property description

· Items included in the property sale

· Items that will be removed after closing

· Agreement duration

· Conflict resolution details

· Protection periods

· Type of agreement

Contact information - Will include names, phone numbers, addresses, and any other information about the seller and realtor.

Listing price - Is the price your home will be listed at. You and your realtor will determine the listing price ahead of time, so check it to make sure it matches what you agreed to.

Realtor fees - Realtor fees are a % of the home’s final sale price. Commissions are typically 6%, with the buyer’s and seller’s realtors taking 3% each. The seller will pay both.

Realtor duties - Are your expectations of the realtor and what you’ve given them permission to do. If you want your realtor have open houses or list your home on the MLS, you’ll give them permission in this section.

Property description - Any personal property left behind after the property is sold will be covered here. It will usually include large appliances like washers, dryers, ovens, and refrigerators. It will also include items not included in the sale, which includes anything you’re taking with you.

Agreement duration - Most real estate listing agreements will be for 6 months, but this is negotiable.

Conflict resolution details – This will cover how any disputes are resolved between the property owner and realtor. It will specify whether conflicts are settled using mediation or arbitration.

Protection period – The protection period, protect the seller’s realtor from losing their commission. An example of this is in when a realtor shows your home to someone during the listing agreement period, but that person doesn’t buy the home until after the listing agreement has expired.

Type of agreement - Most agreements will specify one of 4 types of listings:

· Exclusive right-to-sell listing

· Exclusive agency listing

· Open listing

· Net listing

4 types of listing agreements

1. Exclusive right-to-sell listing agreement: This is the most common type of listing agreement. Exclusive right-to-sell listings give the listing realtor and their brokerage exclusive rights to represent your home. The realtor is entitled to their commission regardless of who sells the property, as long as the listing agreement is in effect.

2. Exclusive agency listing agreement: This is similar to an exclusive right-to-sell listing. The only difference is that an exclusive agency listing gives you a way out of paying a commission.

3. Open listing agreement: An open listing is a “last realtor standing” competition. This non-exclusive agreement allows you to use multiple realtors to sell your home. The realtor who sells the home is the only one who gets a commission. It also gives you the power to try to sell your home yourself, even while other realtors are trying to sell it, also. If you succeed, the realtor walks away empty-handed. For this reason, most realtors will be hesitant to sign an open listing agreement.

4. Net listing agreement: With a net listing agreement, you agree on an acceptable home sale price with your realtor. If the realtor sells the home for more than that price, they get to keep the proceeds. Net listings are not common and are illegal in some states.

5 easy things to double-check (and triple-check) before you sign a listing agreement

The entire listing agreement is important, but you can double-check 5 critical details in seconds:

1. The listing price

2. The agreement’s expiration date

3. The commission rate and how it’s divided with the buyer’s realtor

4. The type of listing agreement

5. Your personal property that is or isn’t included with the transaction

When do you sign the listing agreement?

You’ll sign the listing agreement after you and the realtor have agreed on all the details of your real estate transaction. By signing, you’re stating that you’re ready for the realtor to proceed with the steps needed to sell your home.

Do I have to sign the listing agreement?

Yes, the listing agreement is a legally binding document that outlines your preferences along with the realtor’s duties. If you choose to sell your home yourself, you don’t need to sign a listing agreement since you’ll represent yourself.

Can I negotiate a listing agreement?

You can negotiate several parts of a listing agreement, which include:

1. Realtor commission

2. Realtor duties

3. List price

4. Agreement duration

5. Listing type

How long does a listing agreement last?

Typically, listing agreements last 6 months.

How much does a listing agreement cost?

It doesn’t cost anything to sign the listing agreement. You won’t pay anything upfront, but the contract will specify the realtor’s commission fee. This fee will be paid at closing once the title company confirms a clear title and the property is formally signed over to the buyer.

What if my home doesn’t sell?

If your home doesn’t sell within the time frame of the listing agreement, you have 2 options:

1. Renew the agreement and keep your current realtor

2. Hire a different realtor

If you choose to find a new realtor, review the termination section of the agreement to make sure you don’t owe any expenses incurred during the listing period.

Can I make changes to the listing agreement after I sign it?

Yes, but only when all parties agree. Modifications to a listing agreement are done in writing, either on the agreement itself or through a listing agreement.

If I have questions about my specific listing agreement. Who should I talk to?

A local attorney is the best person to answer your questions. They’ll be able to address your concerns and any potential issues in the contract.

If you’re planning on selling and are in the market for a top agent to make it happen, I would love to help!

We provide real estate services to these West Texas cities - Abernathy, Brownfield, Buffalo Springs, Crosbyton, Denver City, Farwell, Floydada, Idalou, Hale Center, Lamesa, Levelland, Littlefield, Lubbock, Muleshoe, New Deal, New Home, Olton, Plains, Plainview, Post, Ralls, Ransom Canyon, Seagraves, Seminole, Shallowater, Spur, Sudan, Sundown, Tahoka, Tulia and Wolfforth.

We provide real estate services to these counties - Bailey County, Briscoe County, Castro County, Crosby County, Dawson County, Dickens County, Floyd County, Gaines County, Garza County, Hale County, Hockley County, Kent County, Lamb County, Lubbock County, Lynn County, Parmer County, Scurry County, Swisher County, Terry County and Yoakum County.

-Turn the Key to your clean Slate-

Lainie Eilenberger, REALTOR

Key and Slate Real Estate Group

Keller Williams Realty

806-928-4453

Licensed Realtor in Texas

Mortgage Types Explained

1: Fixed-Rate Mortgage

The interest rate will never change with Fixed-Rate Mortgages. You will always know exactly how much interest you will pay over the loan term, and you won’t have to worry about fluctuations in the interest rate increasing your monthly payment. Note - changing property taxes and homeowners’ insurance may still cause slight fluctuations in your monthly payment.

The conventional 30-year fixed-rate mortgage is the most popular home loan in the U.S., but it does require a good credit score. Lenders may require that borrowers make a down payment of 20% or more to qualify for this loan, but that keeps monthly payments down by eliminating compulsory PMI. A fixed-rate mortgage is generally the best choice for homebuyers who desire lower monthly payments and predictable interest rates.

If you’re considering a fixed-rate mortgage, determine if you can afford the payments on a 15-year term as opposed to the 30-year term. The interest rate will be lower, the loan will be paid off quicker , and you will be able to build equity in your home faster.

2: Adjustable-Rate Mortgage

An adjustable-rate mortgage (ARM), sometimes called a variable-rate mortgage or tracker mortgage, is a home loan that may have intermittent changes to the interest rate. These types of mortgages often feature a lower fixed rate for a portion of the loan before the adjustment period begins.

One of the most common examples of an adjustable-rate mortgage is what is known as the 5/1 ARM. In this mortgage, the rate will remain flat for the first 5 years of the loan, then the lender has the ability to adjust the rate annually based on current market costs.

ARM loans are most commonly used by buyers who do not plan to stay in their homes for a long time. For example, if a newly-married couple is looking for an affordable option for a couple of years but knows that they will likely need to move into a larger space as their family grows, they may consider taking out an ARM loan to take advantage of the lower rate early on. However, they may sacrifice equity by moving from one home to the next so quickly, and they may also be responsible for closing costs on one or both mortgages.

3: FHA Mortgage

An FHA mortgage is a government-backed loan insured by the US Federal Housing Administration. These types of loans can only be made by FHA approved lenders and have fewer restrictions placed on borrowers compared to other loan types. FHA loans may be offered as 15 or 30-year fixed-rate mortgages or as ARM loans.

Qualifying for an FHA loan is generally easy, and they often require down payments as low as 3.5%. These loans are for smaller amounts than conventional mortgages and require mortgage insurance premiums. FHA mortgages are generally the best option for borrowers who have low credit scores and can’t afford to put down the 20% required for fixed-rate mortgages.

4: VA Mortgage

A Veterans Administration (VA) mortgage is s government-back loan that is insured by the Department of Veterans Affairs. These types of loans are only available through VA approved lenders for qualified military service members & veterans. The VA does not require a minimum credit score to qualify, but the lender may choose additional borrower requirements.

Despite a required VA funding fee, VA mortgage payments are generally lower because they have no down payment or mortgage insurance requirements. Because of this, VA mortgages are considered by many to be a reward for military personnel.

5: USDA Mortgage

A USDA mortgage, offered through the United States Department of Agriculture’s Rural Development Guaranteed Housing Loan Program, is a government-backed loan. These types of home mortgages offer a no-down-payment loan, but are only eligible in certain qualifying rural or suburban areas.

USDA mortgages are generally more lenient for borrowers and offer lower interest rates and monthly fees. However, they do require upfront guarantee fees and have an annual fee. They’re also only available to specific areas and subject to limits on income and property value. These mortgages are popular with homebuyers in rural areas who aren’t able to make a large down payment.

6: Jumbo Mortgage

A jumbo mortgage is a non-conforming loan because it exceeds the limit set by the Federal Housing Financing Agency (FHFA). These loans are also non-conventional because they can’t be purchased or guaranteed by Fannie Mae or Freddie Mac. What qualifies as a jumbo loan vary by county, and the FHFA updates these numbers. These loans are often used to buy high-end or luxury properties and come with unique lending requirements based on the lender.

To qualify for a jumbo mortgage, a borrower needs a high credit score, cash savings, and a high income. Jumbo mortgages usually require a down payment of 10% or more and will have higher closing costs than other mortgages because of the higher loan amounts. These loans may be offered as either fixed- or adjustable-rate mortgages.

7: Balloon Mortgage

Lender’s structure balloon mortgages to have the borrower make interest-only payments each month until the end of the loan term, at which time the full balance is due in a final lump sum. They’re common in commercial real estate and often end in the borrower refinancing the mortgage before the payment comes due. Balloon mortgages tend to be short, typically lasting only 5-7 years.

There are occasions where a homebuyer might select a balloon mortgage because they don’t expect to stay in their home very long. However, they will not build equity in the home and may not be better off than if they had rented.

8: Bridge Mortgage

Current homeowners looking to finance a new property can use their current home as collateral with a bridge loan. These are short-term loans that typically last a year or less, but they can also put the borrower in a position to pay 2 mortgages at the same time. However, payments can be interest-only until the original property is sold, so the expense of taking on a bridge loan may not be quite as intimidating as some alternatives.

Homeowners frequently use bridge loans to transition between homes. Those who want to finance the purchase of a new home while they wait for their current home to sell may consider a bridge loan. This can give the borrower the ability to make an offer on a new home without the need for a selling contingency.

Conclusion

There are many types of mortgages, and it can be overwhelming trying to determine which one is best for you. If you have any questions about the different mortgage types, or which one may be best for you, please give me a call. I will also connect you with the best lenders in West Texas that will treat you with courtesy and respect, ensure your home is funded timely and be available face-to-face if issues arise.

NOTE - If you’re planning on selling and are in the market for a top agent to make it happen, I would love to help!

We provide real estate services to these West Texas cities - Abernathy, Brownfield, Buffalo Springs, Crosbyton, Denver City, Farwell, Floydada, Idalou, Hale Center, Lamesa, Levelland, Littlefield, Lubbock, Muleshoe, New Deal, New Home, Olton, Plains, Plainview, Post, Ralls, Ransom Canyon, Seagraves, Seminole, Shallowater, Spur, Sudan, Sundown, Tahoka, Tulia and Wolfforth.

We provide real estate services to these counties - Bailey County, Briscoe County, Castro County, Crosby County, Dawson County, Dickens County, Floyd County, Gaines County, Garza County, Hale County, Hockley County, Kent County, Lamb County, Lubbock County, Lynn County, Parmer County, Scurry County, Swisher County, Terry County and Yoakum County.

-Turn the Key to your clean Slate-

Lainie Eilenberger, REALTOR

Key and Slate Real Estate Group

Keller Williams Realty

806-928-4453

Licensed Realtor in Texas

Sincerely,

Lainie Eilenberger Realtor, Key & Slate Real Estate Group

Phone (806) 928-4453

Email leilenberger@kw.com