Win When You Sell (And When You Move)

If you’re trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today’s strong sellers’ market when you make a move.

Win When You Sell

Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, here’s what you can expect:

• Your House Will Stand Out – While recent data shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home.
• Your House Will Likely Get Multiple Offers – When supply is low and demand is high, buyers have to compete with each other for a limited number of homes. The latest Realtors Confidence Index from the National Association of Realtors (NAR) shows sellers are getting an average of 3.6 offers in today’s market.
• Your House Should Sell Quickly – According to the same report from NAR, homes are selling in an average of just 18 days. As a seller, that's great news for you if you’re looking for a quick process.

Win When You Move

In addition to these great perks, you’ll also win big on your next move if you sell now. CoreLogic reports homeowners gained an average of $51,500 in equity over the past year. This wealth boost is the result of buyer competition driving home prices up. You can leverage that equity to fuel a move, before mortgage rates and home prices climb higher. To get a feel for how rates are projected to rise, see the chart below.The longer you wait to make your move, the more it will cost you down the road. As mortgage rates rise, even modestly, it will impact your monthly payment when you purchase your next home. Waiting just a few months to make that change could mean a long-term financial impact.

The good news is today’s rates are still hovering in a historically low range. According to Doug Duncan, Senior VP and Chief Economist at Fannie Mae:

“Right now, we forecast mortgage rates to average 3.3 percent in 2022, which, though slightly higher than 2020 and 2021, by historical standards remains extremely low . . .”

Selling before rates climb higher means you can make your move and lock in a low rate on the mortgage for your next home. This helps you get more home for your money and keeps your payments down too.

Bottom Line

As a homeowner, you have a great opportunity to get the best of both worlds this season. You can truly win when you sell and when you buy. If you’re thinking about making a move, let's connect so you have the information you need to get the process started.

Give us a call here at the office at (903)874-0001 or visit our website www.buyRCLake.com

Why Using a Real Estate Professional is a Gift to YOURSELF!

 

Some Highlights

• Whether you’re buying or selling, there are many perks that come from working with a real estate advisor.
• Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you.
• Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way.

The Holiday Season...to sell or not to sell??? (hint...the answer is YES!)

 

Are you thinking about selling your house right now, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they really want your house. Here’s why selling this winter is a win for you.

Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it.

According to the latest data from the National Association of Realtors (NAR), the average seller received 3.7 offers on their house in September. For a view into what’s happening at the state level, take a look at the map below:Nationwide, the average seller today is getting nearly four offers. That number is significant because it means you’ll likely have multiple offers to pick from if you sell your house this season. To put things into perspective, no matter where your state falls, remember that you really only need one good offer to close the deal.

Any offer you receive will likely be from a highly motivated buyer who’s doing everything they can to beat the competition. The stakes for buyers are high. They’ve been looking for a house and they want to lock in their dream home before prices and mortgage rates rise further next year. Chances are, they’ll get creative with the terms of their offer, which could include waiving contingencies and offering over the asking price – both of which are great news for you.

If you’re on the fence about when to sell, remember your house is a hot commodity this season. As other sellers take a break for the holidays with plans to re-list their homes in the new year, you can put your house in front of motivated buyers by making your move today. That means your house will be the center of attention, and likely the center of a bidding war too.

Bottom Line

Selling now gives you even more opportunity to win big as buyers compete for your house in today’s market.

How Sellers Win When Housing Inventory Is Low

 

How Sellers Win When Housing Inventory Is Low

In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today’s low inventory will set you up for a win when you sell this season.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in today’s market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which increases the equity you have in your home. In the latest Homeowner Equity Insights Report, CoreLogic explains:

“In the second quarter of 2021, the average homeowner gained approximately $51,500 in equity during the past year.”

This year-over-year growth in equity gives you the ability to sell your house and then put that money toward a down payment on your next home, or to keep it as extra savings.

3. Better Terms

In a sellers’ market like we have today, you’re in the driver’s seat if you make a move. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally land their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell on your terms. Moving now while inventory is so low is key to maximizing your opportunities.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move.

FSBO...The cold hard truth

 

Don’t Tackle Selling Your Home on Your Own – an Agent Can Help

If you’re looking to maximize your sale and minimize your effort, you need to work with a real estate professional. In a sellers’ market like today’s, it can be tempting to list your house on your own – known as For Sale By Owner (FSBO). But the truth is, a real estate professional can save you time and money by managing every step of the process, from pricing your home to reviewing documents and handling negotiations.

Before you decide to sell your house on your own, here are five reasons why working with an agent is your best bet to maximize the sale of your home.

1. First impressions are everything – and an agent knows how to make a great one.

Prepping a house for sale requires a significant amount of time and effort, even though it may seem simple at first glance. Doing it right so it stands out takes expertise and an understanding of what buyers are looking for. An agent considers things like:

• Should you take down any personal art or pictures?
• How much landscaping should you invest in to boost your house’s curb appeal?
• What wall colors are most appealing to buyers?

An expert real estate advisor relies on their experience to answer these questions and more so you don’t invest in the wrong things. Your time and money are important – you shouldn’t waste either.

2. Agents have tools to maximize the number of views your home gets.

Put plainly, the more buyers that view your house, the better your return will be. In our current market, homes are receiving 3.8 offers on average per sale, according to recent datafrom the National Association of Realtors (NAR). While that’s promising for the sale of your home, it’s important to understand your agent’s role in bringing buyers in.

Agents have multiple tools at their disposal – from social media to agency resources – to ensure your home is viewed by more prospective buyers. Leveraging the tools available to your agent and your agent’s expertise may help boost your sale price as well.

3. An agent won’t miss anything in the fine print.

Your agent can also save you time by taking any guesswork out of navigating the required documentation. Today, more disclosures and regulations are mandatory, meaning the number of legal documents you need to juggle is growing.

Because there’s so much to take care of, it can be hard to truly understand all of the requirements and the fine print. That’s where an expert advisor can truly shine. They’ve been through the process before and can be your guide to avoid any costly missteps.

4. Expert advisors know the market and how to price your home.

Another way your agent maximizes the sale of your home is by making sure it’s priced right. Real estate professionals have the experience to compare your house to recently sold homes in your area. They also understand the market at large and can factor in any upgrades you’ve completed to your home. Combining these factors is the key to making sure your home is priced to move quickly – and at a competitive price.

When you FSBO, you’re operating without this expertise. Even with your own research, you may not find the most up-to-date information and could risk setting a price that’s inaccurate or unrealistic. If you price your house too high, you could turn buyers away before they’re even in the front door. This could also cause problems when it’s time for the appraisal.

5. Your agent will be an expert negotiator. 

In addition to their experience navigating sales, real estate professionals understand how to negotiate every aspect of a deal. They also know all the parties that will be involved with the sale, including:

• The buyer, who wants the best deal possible.
• The buyer’s agent, who will use their expertise to advocate for the buyer.
• The inspection company, which works for the buyer and will almost always find concerns with the house.
• The appraiser, who assesses the property’s value to protect the lender.

An agent relies on their experience and training to make the right moves during the negotiation. They’ll know what levers to pull, how to address each individual’s concerns, and when you may want to get a second opinion. Selling your house as a FSBO means you’ll need to be prepared to have these conversations on your own.

Bottom Line

Selling a house takes time, effort, and expertise – don't go at it alone. Let’s connect to make sure you have an expert on your side to make the most of your sale

Appraisals and Inspections...unravel the mystery

Knowledge Is Power When It Comes to Appraisals and Inspections

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market.

But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road.

Home Appraisal

The home appraisal is a critical step for securing a mortgage on your home. As Home Light explains:

“. . . lenders typically require an appraisal to ensure that your loan-to-value ratio falls within their underwriting guidelines. Mortgages are secured loans where the lender uses your home as collateral in case you default on the agreed-upon payments.”

Put simply: when you apply for a mortgage, an unbiased appraisal – typically required by your lender – is the best way to verify the value of the home. That appraisal ensures the lender doesn’t loan you more than what the home is worth.

When buyers are competing like they are today, bidding wars and market conditions can push prices up. A buyer’s contract price may end up higher than the value of the home – this is known as an appraisal gap. In today’s market, it’s common for the seller to ask the buyer to make up the difference when an appraisal gap occurs. That means, as a buyer, you may need to be prepared to bring extra money to the table if you really want the home.

Home Inspection

Like the appraisal, the inspection is important because it gives an impartial evaluation of the home. While the appraisal determines the current value of the home, the inspection determines the current condition of the home. As the American Society of Home Inspectors puts it:

“Home inspections are the opportunity to discover major defects that were not apparent at a buyer’s showing. . . . Your home inspection is to help you make an informed decision about the house, including its condition.”

If there are any concerns during the inspection – an aging roof, a malfunctioning HVAC system, or any other questionable items – you have the option to discuss and negotiate any potential issues with the seller. Your real estate advisor can help you navigate this process and negotiate what, if any, repairs need to be made before the sale is finalized.

Keep in mind – home inspections are critical because they can shed light on challenges you may face as the new homeowner. Without an inspection, serious, sometimes costly issues could come as a surprise later on.

Bottom Line

Both the appraisal and the inspection are important steps in the homebuying process. They protect your best interests as a buyer by providing unbiased information about the home’s value and condition. Let’s connect so you have an expert guiding you throughout the entire process.

Local fare...The Pelican Bar & Grill

Pelican Bar & Grill

Set to the side of Hwy 287 before crossing the bridge, you'll find the Pelican Bar & Grill. Seasonally open to serve locals residents and lake visitors alike, this casual outdoor eatery serves up a selection of hot & made to order grill food with friendly service in a great fun filled location. 

Lots of open air tables provide comfy seating as you dine, as well as a sizable bar area. The venue hosts a stage area for local musicians and is well lit with festive lighting for evenings. Large air moving units keep a great breeze going during your meal and a walk-in sand pit area, complete with a boat, tractor and sideline seating is the perfect place to entertain the kids!

You will find an excellent selection of grill style food sure to please every hungry person in your party as well as a selection of drinks! Personally recommended is the taco plate which you can choose from chicken, beef or shrimp.

Each taco comes with fresh made jalapeño ranch dressing, which is much loved and requested by those who frequent The Pelican. Our staff are frequent diners and we are happy to patron and support this local restaurant. They are currently open for lunch and dinner. You can visit their Facebook page for more details on the menu and seasonal hours. Hope to see you there...living the lakeside dream!

No Ifs, Ands or Putts About It!

Photo by Robert Ruggiero on Unsplash

 

You are living out your lakeside dreams here at Richland Chambers aren’t you? The water is fantastic, the fish are biting and your boat has never been happier! So, what’s missing? If you love to hit a few balls now and again, then you might be worried you’ve had to give up your golf in exchange for your new lake life. 

 

While we may not have a golf course here on the lake proper, we have compiled a list of golf courses within an of the lake (more or less depending on what part of the lake you live on.) So, don’t despair! You can pull out your clubs, dust off those golfing shoes and get ready for some un-fore-gettable day golfing trips. And after you’re all tee-d out, you can spend your evenings back here on the lake, looking at your own little slice of heaven! We would love to hear back from you if you've played any of the courses we have have listed. Links are listed down below!

• Corsicana Country Club
• The Oaks Golf Course
• Kings Creek Golf Course
• Indian Oaks Golf Course
• Pinnacle Golf & Boat Club
• Cedar Creek Country Club
• Athens Country Club
• Pine Dunes Golf Course
• Wildcat Golf Course
• The Old Brickyard Golf Club
• Waxahachie Country Club
• Tri-County Golf Club

First time buyer...20% down? Myth or Truth?

Is a 20% Down Payment Really Necessary To Purchase a Home?

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.

That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it:

“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

If saving that much money sounds overwhelming, you might be ready to give up on the dream of homeownership before you even begin – but you don’t have to. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today’s average down payment is only 12%. That number is even lower for first-time homebuyers, whose average down payment is only 7%.

Based on the Home Buyers and Sellers Generational Trends Report from NAR, the graph below shows an even closer look at the down payment percentage various age groups pay:As the graph shows, the only groups who put 20% or more down on average are older homebuyers who likely can use the sale of an existing home to fuel a larger down payment on their next home.

What does this mean for you?

If you’re a prospective homebuyer, it’s important to know you don’t have to put the full 20% down. And while saving for any down payment amount may feel like a challenge, keep in mind there are programs for qualified buyers that allow them to purchase a home with a down payment as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, you do need to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.

Bottom Line

Don’t let the myth of the 20% down payment halt your homebuying process before it begins. If you want to purchase a home this year, let’s connect to start the conversation and explore your options.

Sip, Savor, Repeat.

Angelita Vineyard & Winery

Located in the quaint town of Angus, Texas you'll find the only vineyard & winery in Navarro County, Angelita Vineyard & Winery. In just 30 minutes, you can travel from Richland Chambers Lake to this boutique winery & vineyard for a unique experience not found anywhere else around our lake community. With a indoor tasting room and an outdoor patio area, there's plenty of space to enjoy the events that they often host and the live music that is frequently found on site. 

For your sipping pleasure, you'll be able to enjoy a generous selection of award winning red, white, blush and sparkling wines along with a delectable selection of appetizers. They have designed an experience combining fine winemaking with Texas hospitality...the perfecting pairing if you will. 

Great wine always begins with a great story. In 2010 Beverly & Rodney Spahn wanted to find a way to use their land in a unique way and this a vineyard was born. In the spring of that year as the first vines were planted, Rodney's mother Angelita passed away after a battle with illness and the Spahn family named the vineyard in her honor. She is remembered as a hard working woman, overcoming insurmountable obstacles to flourish and become a nourishment to all those around her...much like the vines that bear her name. 

Experience a wine tasting with keepsake glass, book a private wine tasting for you and guests or schedule a wine tasting event for a large group. The winery also can accommodate parties and special celebrations.

If you'd like to take home some of this local flair with you, you can shop in person or online. Curbside delivery is available, as well as home delivery (within certain distances.) You can visit Angelita Vineyard & Winery on social media by clicking these links: Facebook, Twitter, Instagram.

Make sure to plan a time to go out and visit this local destination. If you ever visited make sure to leave a us comment below and tell us your favorite wine!

 

Marina Life on Richland Chambers

 Photo by: Eric Muhr

Excited to plan a day trip to Richland Chambers Lake to put your boat in the water? We are so excited to have you! Our lake boasts great boating conditions year-round. Nothing beats pulling into one of the four marinas we are proud to host here on our lake for a bite to eat at one of our local restaurants or docking up for a weekend getaway while staying at a cabin lakeside. From sailboats to fishing boats and everything in between, Richland Chambers Lake has a marina to suit every need. Check out these options before you hitch up and head out. 

 

·      Sunset Cove Marina: this marina boasts a store, grill, kayak and paddle boats rentals, boat ramp, pier, wifi, laundry facilities, RV park and pavilion rental. (903)872- 2300 https://sunsetcovecorsicana.com

 

·      Oak Cove Marina: here you’ll find boat ramps, store, restaurant, campground/RV park, motel, pier, boat rentals, gas fill ups, and wifi. (903)872-0888 http://www.oakcovemarina.com

 

·      The Harbor:  at this marina you’ll have access to a restaurant, gas fill ups and boat ramp. (903)874-7000  https://www.facebook.com/theharborcorsicana

 

·      Fisherman’s Point Marina: a stop at this marina will give you a campground/RV park, café, store, boat ramp, kayak and canoe rentals and cabin rentals. (903) 389-5218 https://www.fishermanspoint.com 

 

Still considered a relatively quiet, undiscovered lake near the DFW metroplex, Richland Chambers Lake is perfect for fishing boats and speed boats. We also have what is considered the largest inland sailing basin in the state of Texas due to a large east to west run on the Richland Creek arm of the lake. You can read more on sailing here http://richlandchamberslake.blogspot.com/2013/12/sailing-on-richland-chambers-lake.html at RCL. We have plenty of quiet coves for fishing, as well as quiet waters for kayakers and canoers. We really do have something special for everyone. Come out and see what living the lakeside dreams looks like. We are happy to have you!