Monday, May 24, 2021

How Working With a REALTOR(R) Helps You Find a New Home Faster

By Anica Oaks

When you want a new home, the last thing you want is for the process to drag on for months. While you could spend hours online, you will get much better results by working with a REALTOR® who knows the local area, what type of home you are looking for and how much you're willing to spend. If you're ready to get that new home you've always wanted, here's how using an agent can make the process much easier:

Avoid Problems at Closing

When you have gone through the process of buying your home, you don't want any problems at closing to throw your purchase into chaos. By placing your trust in a REALTOR®, it lowers the chances of that happening significantly. From making sure the title to the property is clear to ensuring the lender has met all deadlines on financing, an agent will help you ease through closing and get you your new home much faster.

Practice With Negotiations

When you find the home you and your family want, you may let your emotions do the talking for you when it comes to negotiating. As a result, it may take longer to get a deal finalized. By having your real estate agent handle all negotiations, your deal will more than likely get done much faster and at a better price than you probably could have negotiated yourself.

Know the Local Area

When you find a home in which you may be interested, you may not stop to think about its location. However, a smart REALTOR® will already have a thorough knowledge of the local area and neighborhoods, and can perhaps steer you in the right direction. For example, if you want a home with plenty of privacy, an agent may know that a home you're interested in is near a spot where a new road will soon be built or a shopping center will be under construction. In these situations, they can help you locate other similar homes that offer the privacy you desire.

Handle the Paperwork

Finally, any real estate transaction involves tons of paperwork. If you try to handle this on your own, mistakes will be made and the transaction may never get completed. By letting your REALTOR® take charge of the paperwork, your purchase can be done quicker and with no mistakes being made along the way.

Rather than let months go by only to see a home of your dreams slip away, allow an agent to take charge of the situation and help you find your new home quickly and easily!

Anica Oaks is a freelance writer who hails from San Francisco. When she's not writing, she's enjoying her time outside with her dogs. Keep up with her on Twitter @anicaoaks.


Terry L Barnette
Principal Broker, Master GRI
Crye-Leike REALTORS®
Direct/Text: 423-463-0024
Office: 865-774-1414
TN Lic# 00291120 Firm Lic# 262691
KM4HDV
Please note that REALTOR Terry Barnette does not agree with nor consents to Dotloop's privacy policy and will not voluntarily enter into a transaction loop.

BrandingBanner1_2018_3Nation.jpg

 

**** Emails sent or received shall neither constitute acceptance of conducting transactions via electronic means nor shall create a binding contract in the absence of a fully signed written agreement.*** "IMPORTANT NOTICEWhen wiring funds, never rely exclusively on an email, fax, text or social media message communication.  Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Your Closing Agency will always send wiring instructions securely (via encrypted email) and will NEVER send revised wiring instructions.   Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct. Be especially aware of any change requests subsequent to the original wiring/money transfer information."

 

Attachments area

Saturday, August 31, 2019

A postcard from Terry Barnette


This email was sent to you on behalf of Terry Barnette (Terry@TerryBarnette.com) of Crye-Leike®. Opt out of future mailings. Crye-Leike, 6525 Quail Hollow, Memphis, TN 38120. A star in the office name between Crye*Leike designates the office as a franchise, which is independently owned and operated.

Wednesday, January 2, 2019

NAR Helps Secure FEMA Reversal on New Flood Policies During Shutdown

Share This Post Now!

The Federal Emergency Management Agency (FEMA) announced late Friday it will once again issue and renew flood insurance policies, reversing its earlier controversial ruling from last week that banned sales of the polices during the partial shutdown of the federal government.

statement posted to the FEMA website Friday read in part, "As of this evening, all NFIP insurers have been directed to resume normal operations immediately and advised that the program will be considered operational since December 21, 2018 without interruption."

The National Association of REALTORS® (NAR) called it "a critical win for home sales."

"FEMA and the Administration deserve credit for hearing our concerns and acting swiftly to address them," said NAR President John Smaby. "This new decision means thousands of home-sale transactions in communities across the country can go forward without interruption, as Congress intended when it renewed the flood insurance program earlier this week. Our research has shown that 40,000 home sales are lost every month that flood insurance is not available."

On December 21, Congress passed legislation that extended the National Flood Insurance Program until May 31, 2019. In an unexpected policy decision on December 26, however, FEMA said it couldn't allow insurers to issue and renew federal policies while the partial government shutdown was ongoing. That ruling was unexpected because in past government shutdowns, FEMA continued to operate the program as authorized. NAR, along with other organizations, including the Property Casualty Insurers Association of America and the Independent Insurance Agents & Brokers of America, urged policy makers to reevaluate the decision. Congress expressed concern, as well.

"We thank the Administration and Congress for stepping up so quickly to ensure the smooth continuation of flood insurance at a time when market disruption would be extremely hard-felt," said Shannon McGahn, NAR senior vice president of Government Affairs.

Stay tuned to RISMedia for ongoing developments. Information about the National  Flood Insurance Program (NFIP) is available on NAR's website.

Terry L Barnette
REALTOR®, Broker, ABR, e-Pro, SFR, BPOR, Master GRI
Crye-Leike REALTORS®
Direct/Text: 423-463-0024
Fax: 423-473-8275
Office: 423-473-9545 x217
TN Lic# 00291120 Firm Lic# 005463 

Tuesday, May 9, 2017

Home Value Estimator by The Barnette Team

Are you curious to know how many buyers we have actually looking for a home like yours right now?- Click Here to go online and find out right now! Crye-Leike REALTORS 423.473.9545 (Direct: 423.463.0024)



Home Value Estimator by The Barnette Team

Wednesday, April 12, 2017

Millennials Flock to Low Down Payment Programs

A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January.

The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from December.

An article by DS News points to the new wave of millennial homebuyers:

"It seems that the long-awaited influx of millennial home buyers is beginning. Ellie Mae reported that mortgages to millennial borrowers for new home purchases continued their ascent in January, accounting for 84 percent of closed loans."

Among millennials who purchased homes in January, FHA loans remained popular, making up 35% of all loans closed. Ellie Mae's Executive Vice President of Corporate Strategy Joe Tyrrell gave some insight into why:

"It is not surprising to see Millennial borrowers leverage FHA loans because they typically offer lower down payments and lower average FICO score requirements than conventional loans. Across the board, we're continuing to see strong interest in homeownership from this younger generation."

Bottom Line

If you are one of the many millennials who is debating a home purchase this year, let's get together to help you understand your options and set you on the path to preapproval.



Terry L Barnette
REALTOR®, Broker, ABR, e-Pro, SFR, BPOR, Master GRI
Crye-Leike REALTORS®
Direct/Text: 423-463-0024
Fax: 423-473-8275
Office: 423-473-9545 x217
KM4HDV
TN Lic# 00291120 Firm Lic# 005463 

Wednesday, January 18, 2017

Why Pre-Approval Should Be Your First Step

Why Pre-Approval Should Be Your First Step | Simplifying The Market

Why Pre-Approval Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

"It's highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets."

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding "your credit, debt, work history, down payment and residential history." 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Terry L Barnette
REALTOR®, Broker, ABR, e-Pro, SFR, BPOR, Master GRI
Crye-Leike REALTORS®
Direct/Text: 423-463-0024
Fax: 423-473-8275
Office: 423-473-9545 x217
KM4HDV
TN Lic# 00291120 Firm Lic# 005463 

Friday, December 9, 2016

How Will Mortgage Rates Impact Home Prices


Will Increasing Mortgage Rates Impact Home Prices?

There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases.

However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened:

Will Increasing Mortgage Rates Impact Home Prices? | Simplifying The Market

Last week, in an article titled "Higher Rates Don't Mean Lower House Prices After All," the Wall Street Journal revealed that a recent study by John Burns Real Estate Consulting Inc. found that:

"[P]rices weren't especially sensitive to rising rates, particularly in the presence of other positive economic factors, such as strong job growth, rising wages and improving consumer confidence."

Last week's jobs report was strong and the Conference Board just reported that the Consumer Confidence Index was back to pre-recession levels.

Bottom Line

We will have to wait and see what happens as we move forward, but a decrease in home prices should rates go up is anything but guaranteed.