It is 11:00am on a Friday, and it has been quite a week. After juggling inspections, new listings, closings, purchase agreements, dogs, cats, workouts, AND a couple of health scares from my aging parents, today is -- for once -- calm.

Hmmm. Calm. Feels weird. Good, but weird.

If you are like me, you can run full-tilt all the time. I suspect I may need to enter a 12-step program for adrenaline junkies. 

And so today I give myself permission to accomplish lots of stuff....at a more relaxed pace.

Calm. I am going to try to get used to it....while it's here.

.....love the one you're with. And yes, we're talking real estate here.

As I unpacked all of our stuff in our new home, it occurred to me that this house did not have exactly what I  hoped for in terms of a kitchen. Granted, the house has everything else we need or want: a huge fenced yard, big rooms, extra porches, fireplace, hardwood floors......and it's just two doors away from my parents who need help now and again. That last piece alone has reduced our daily stress to a very manageable level because we can be there when they need us.

But c'mon, how do you cram a 17'x13' kitchen, with all the accompanying flotsam and jetsam that accumulates (have you ever heard my "Bigger Purse Theory?") into an teeny, tiny 8'x7' galley kitchen?

You prune. You toss. You agonize over the salad spinner. Does it matter that you have not used it in 3 years? No? Sure you may use it (someday).

So, you prune, sort, donate, and get on with it.

I often work with buyers who want everything exactly as they dreamed. And I am here to tell you, there is nothing wrong with dreaming, but we also need to be realistic. Perfection is a frame of mind, not a place. We can adjust and find something that will BECOME perfect if there are enough other things RIGHT with the house.

What I learned is that we get along very nicely in our new, smaller kitchen. We adapted, and have started to love it. Everything is close by. I can actually FIND THINGS and SEE the stuff stashed in my cupboards. Huh.

It's not what you get in life, it's how you handle the stuff you get. So I'm gonna love the one I'm with, and just get on with life.

The other day someone asked me about potential legal ramifications of a decision they needed to make. Inside my head, this little voice said, "Wait a minute, do I look like an attorney?" 

Then that little voice's evil twin. Ms. Ego, preened a little and was so flattered that they thought I knew SO much. (And that path leads to peril.)

Not so fast. I am not an attorney, I don't have a license to practice law, and I was very quick to refer them to legal counsel.

And it's true, I do know a lot.......about real estate. But, in selling homes, it is important for agents to remember that they are NOT:

• Lawyers
• Accountants
• Inspectors
• Police departments
• Air quality experts
• Mold experts
• Etc., etc.

So when your agent refers you to an expert for a bona fide answer to a specific question, remember that they are not ducking the issue, but instead are looking out for your best interests at all times. 

For Sale by Owner: Six Tips on Getting It Done

Sometimes you need to sell your home, but for one reason or another, you'd like to go it alone as a FSBO (For Sale by Owner). Of course, I could give you dozens of reasons why it's better to have a listing agent, but that's a different article.

Consider these six tips as you plan for selling your own home:

Set the Right Price  No amount of advertising or marketing will overcome the obstacle of pricing your home too high. Today's buyer has access to more information than ever before. They will likely bring their own agent (be prepared to pay the buyer's agent a commission), who will give them the cold, hard facts about your home's value . You have ONE chance to make a good impression.

To determine your asking price, calculate the average sales price to the list price ratio in your neighborhood. If you are serious about selling, consider an incentive. Be careful when you price: national statistics show that FSBOs average 9% less than what they could have gotten with a broker.

Create a Marketing Plan  An ad, a yard sign, and word-of-mouth are a good start....but where do you go from there? With over 80% of buyers find the home they end up buying on the Internet, make sure your home is posted, with a virtual tour, on all of the websites possible. Consider Trulia, Zillow, Homeseekers, Homefinders....the list is endless. (My team personally posts our listings, with virtual tours, on over 90 websites, and it is a full time job keeping it all updated.)

Prepare Your Product  Many factors impact showing your property. Consider hiring a stager to come in and help you select paint colors, declutter, and go on the market with your best foot forward. Be careful that you don't spend money on things that bring little return; you want the most bang for your buck. You have to look at your home the way the buyer will see it.

Four Questions for Every Caller  You need to separate the lookers from the buyers. Ask everyone who calls if they are pre-approved, who pre-approved them, how much they are pre-approved for, and their purchase deadline. Don't risk a contract with someone who cannot buy your home. My team can put you in touch with several lenders who can help you pre-approve your callers.

Properly Present Your Property  When agents show your home, we don't want the seller present because it inhibits the buyer. They need to be able to speak freely, and see themselves living in your home. So resist the urge to show off the hand-railing you installed yourself, and try not to regale them with stories of how hard it was to tile the bathroom. Lock up your prescriptions and valuables during showings, as well. As the owner, you can't (and shouldn't) be glued to their hip the entire time.

Negotiate the Sale  It's a fact, over 90% of homes sell for less than the asking price. Prepare for lower offers, and don't be insulted -- after all, your buyer is likely considering a FSBO because they expect to get a discounted price. they know you are not paying a commission, so be prepared with evidence (facts and statistics) of your home's value.

Selling your home on your own can be done, if you consider these and other factors. Feel free to contact me directly if you would like to discuss your home sale further!

The Top 10 Most Important Things to Look for in a Real Estate Agent

Just because your aunt or best friend is a real estate agent, your personal relationship should not be the only thing that qualifies them for the job.

So how do you make sure the person you select is the best one to help you with your home purchase or sale? Here is a quick checklist of things to consider when choosing an agent:

1. This may sound too simple, but make sure they have a VALID real estate license, and whether or not they have any disciplinary actions against them. In Minnesota, you can check with the Minnesota Department of Commerce. 
   

    

2. Verify that they are a current member of the local board, their state association, and the National Association of REALTORS.

    

3. Does the agent treat you with respect? Do you feel comfortable with them? Can you be frank, knowing that they are 100% on your side?

   

4. Is the agent current on technology? A great deal of research and communication takes place electronically. Agents who are "behind the times" just can't keep up, and cause you to miss your perfect home.

    

5. Are they full-time agents? Part-timers who have another job are not always as available to help you. Plus, having another job makes it harder to keep up with legal and other changes.

    

6. Does the agent know the area you are interested in?

    

7. ASK FOR REFERENCES. Talk to at least three past clients: would they use the agent again?

    

8. Is the agent professional? Punctual? Do they follow through, and do what they say they are going to do?

    

9. The agent should be knowledgeable about home construction.

    

10. Can the agent coach you on what you need to know so YOU can make a decision?

     

Ask your friends and family who they would recommend. Check out the agents' websites. Read their blogs. Look for testimonials. Selecting an agent is far more important than most people think....it can make or break your deal.

Caring for Aging Parents

It's pretty typical for us "Boomers" to be somewhere in the process of caring for our aging parents. Since my husband and I are in the midst of this with our parents (his mom and my folks), I am here to tell you that it can feel like a weird time. Emotions run high on all ends, and your role changes and evolves -- sometimes several times a day.

When my husband's mother was recently hospitalized, his sister was trying to address our concerns about his mom still living alone, especially as her health issues were slowly becoming more serious. His mom was very frightened, but it came out as anger and pouting.

Be ready to flip back and forth from being "the kid" to becoming "the parent."  My mother-in-law's reaction to anything she didn't like was a very nasty, "Yes, Mommy." Of course, we know it was because she felt her independence and control slipping through her fingers, but it makes for some very trying conversations.

Reach Out!

Don't try to do figure this out all on your own. Reach out to your parents' doctors, the local senior center, others who are in this situation. There is a whole network out there, and you can tap into it. Right now I'm looking for an in-home trainer or physical therapist for some specific mobility issues, and each person I call tries their best to refer me to the right person.

Go to The Doctor

Assign someone to go to doctor's appointments with them, if you can. Since I have a natural inclination toward project management (my friend says I "do process stuff in my sleep"), I was surprised that no one is really playing quarterback as my dad made the rounds to his various doctors. My expectation was that the internist was supposed to "manage" the care of the other specialists. What I found out is that they try, but they can't be at all the other appointments and get all the details, ask questions etc. Be your parent's eyes and ears, and speak up if you see conflicting suggestions or treatment plans.

Being the Caregiver vs. Arranging Care

A long time ago a teacher said to me, "You are not responsible for being the caregiver for your parents. It's your job to make sure they are well cared for....and that could mean bringing in help."  I am forever grateful to him for that mindset, and I try to make sure I know what the boundaries are in this grand adventure.

This is an interesting journey, and I will continue to blog as I make my way through it. If you have any tips to share, please post them! We're all in this together.

OMG, I Smell DOG in Here!

First, full disclosure. I am the proud parent of five "fur kids." I have three dogs and two cats, and I love them. Period. My friends often joke that they want to come back in their next life as one of my dogs. They are also amazed that my house (while often cluttered), never smelled of the animals.

So, this is not an anti-dog post. But it IS a testimonial of a recent, eye-opening experience.

We recently moved. Filled at 28' trailer with all of our worldly possessions and moved. And guess what? My perfectly house-trained dogs, who have not had an "accident" in the house for YEARS, were so stressed during the process that I woke up to a puddle in the basement every other morning until we left.

Ugh.

So as much as I cleaned, enzymed, and deoderized, my basement now needs industrial level deoderizing so people don't walk in and say, "OMG, I smell DOG in here!"

I don't have the answer on preventing pet anxiety when packing to move, but I have new compassion when I show vacant homes that smell like dog.

We are now in our new house, waiting for the truck with our stuff. My canines are once again the happy, well adjusted pups that keep the house clean....and I am unbelievably grateful!

Are You Shopping for a Home Like You're Buying a Car?

We shop. We research. We read reviews. We go out to take a look, take it for a test drive, and eventually we fall in love with "The One."

Then we go see about financing.

What's wrong with this picture? Well, nothing if you are buying a car. The car dealer has a small army in the finance office, and they have financing for just about everyone, right there on the spot.

However, if you are buying a home, get the financing piece done FIRST. The last thing you want is to find "The Perfect Home," only to have someone else snatch it out from under you because they had their pre-approval in place, and you didn't.

Before a seller signs your offer, they want to be assured that you can complete the deal. I have never found a seller who will accept an offer without a pre-approval letter from the buyer's loan officer (or proof of funds, if it's a cash buyer).  If they take their home off the market, they need to know it has a good chance of closing.

I just recently met a buyer who is coming into a large sum of money. To her, it's cash in the bank and she wants to write an offer. But to the seller, it's no deal because she can't prove that she has the money yet. We are just hoping that the home she fell in love with is still available by the time the funds clear in her bank account.

So.....as tempting is it is to get right out there and look at houses, get the financing piece buttoned up first. You will know how much you can afford, and will be ready to close the deal when you find "The One."

One of my very favorite books is The Talisman by Stephen King and Peter Straub. It is a fantasy/horror about Jack, a young boy who goes on a quest to retrieve a magical talisman that will save his dying mother, and at the same time he will save his mother's "twinner" who is also the dying queen in a parallel universe.

[Brief pause while you wrap your mind around this pretext....]

Anyway, it is a classic good vs. evil, truth and power shall set you free, "stand up to the test" kind of novel (except for the parts about werewolves, flipping between universes, and men who can fly). Jack has to stand up to evil men, bad werewolves (there are good ones and bad ones), and phantoms in medieval armor.

No dragons, but I think you get my drift.

Last week, I felt like I came up against one of those bad actors as I was helping a buyer with a short sale. The agent had a "process" that he followed before he would submit an offer to the lender for short sale approval:

1. The buyer had to accept the seller's disclosure alternatives, which divulged NO information about the property....even though state statute requires the seller to disclose material facts. The seller had lived in the home several years, and then had rented it for the last two years. Really, Mr. Listing Agent? In all that time, nothing of material importance EVER happened at this home that a buyer would want to know about?
   
2. The buyer had to pay for and perform the inspection, and sign off on the inspection contingency, before the listing agent would deign to even submit the offer to the lender for short sale approval. Most buyers in the starter home category don't have hundreds of dollars to throw around on a property they don't even know if they can buy.

I do well over 80% of my business listing and selling short sale properties. I can tell you that it is a crap shoot nearly every time. You don't always know if you will get to the finish line, but you cover your bets as best you can, and press ahead anyway.

Usually we get there, but it can be a bumpy road along the way.

In this case, something just didn't smell right. They were too anxious to get us to take the house "as-is," have the buyer sign-off on the condition immediately, and accept their non-disclosure. So I advised my buyer to step back and not cave in.

We are still looking. but we'd rather find the right house, under the right circumstances, than get bullied into accepting a deal that just doesn't feel right.

Why a Short Sale is Not for Everyone

Today I met with a nice couple, and they were trying to do the right thing. They always paid their bills. They helped their kids out.

Their son is in a severe pickle, which has put him a few months behind on his mortgage, and they wanted to pay it up current. Nice, quality little house, great starter-home-plus. However, the market has dropped in the last 5 years, such that this home is now worth less than what they paid for it.

Should they short sell? Maybe. I do a ton of short sales. (In fact, I do so many, I thought I should get my CDPE -- just because.)

BUT....even though the son definitely qualifies for short sale status, the parents had so much cold, hard cash into the place, they didn't want to lose it. So, my counsel was this:

1. Let's see if we can rent it. The mortgage payment is likely lower than what they could get for rent.
   
2. If the rental market is good in their area (and I called in the pros to help out on this), perhaps we could even get a loan modification to make the monthly payments less of an alligator. *

Before you flat out decide to do a short sale, look at all of your options. Yes, sometimes it is the best answer, but not always. A good agent will help you sort out your options.

Barb

* A payment that takes a bite out of your hiney every month