Upcoming Free (& non-promotional) Home Buyer Classes:
…we also have home seller classes available. Link on left on website page
Saturday, May 4th, from 9am-12pm (ish)
Marshall Community Center, conference room
1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)
Tuesday, May 7th, from 5pm-8pm (ish)
Marshall Community Center, conference room
1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)
Saturday, May 18th, from 11am-2pm (ish)
Vancouver YMCA, conference room
11324 NE 51st Circle, Vancouver WA (corner of SR500 & Gher Road/112th Ave).
Thursday, May 30th, from 5pm-8pm (ish)
Marshall Community Center, conference room
1009 E. McLoughlin Blvd, Vancouver WA (kitty corner from Clark College)
If these class dates and/or times don’t work for you, please let us know. We understand that you have lives, and families, and work. We will work something out that works better with your schedule. Just let us know…. ….we also have home seller classes available too…link on left on website
Remember…with reservation…we will throw in lunch, or dinner! 😀
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Hi! Guess what time it is?
No… not Miller Time… (ewww)… It’s Client Appreciation Event time! On Saturday, 5/4 from 3pm-6pm (ish as the movies 3 hours & 2 minutes long) Chris Berg & I will be hosting what is projected to be the biggest opening movie of all time… Infinity War: ENDGAME! This movie is projected to earn 900 MILLION dollars in the opening weekend! Holy Moly… that’s almost a BILLION dollars the opening weekend! So, here we go…let’s be part of it! So, you know the rules… our client appreciation events are for past, current, and clients who want to be working with us to buy a home, sell a home, or to refinance a home. We appreciate our clients because we know that without you… well, without our clients, what would Chris and I be doing? Well, not hosting really awesome movies with cool pens. For tickets, please email me or Chris Berg at chris.berg@cardinalfinancial.com with how many adult/kid tickets you need. Thank YOU!!! Thank you for your continued business, and your Referrals. Come watch a movie with us!
Has anyone noticed the slow down? Oh…how can you tell? All the Facebook ads? Good gravy, it’s gotten crazy! The market has slowed down from last year, and for many people in the industry this means that they are looking for any way to reach potential clients. Unfortunately some of the information that they’re floating around is … to be polite… bonkers, and did I mention incorrect? What is funny is that I keep seeing the same ad…over and over, but shared by different Realtors, and lenders. So, let’s go over some of the questions I’ve been asked recently, or read that some in my industry were sharing…
How about we play a game of True or False?
1. A client of mine took a class recently where the Realtor teaching the class told folks in the class that Buyers could not close on a home if their drivers licenses did not have their new address on it.
FALSE: to close on a home you do need to bring a copy of your current drivers license to the title company with you. You do NOT have to have the address of the home you are buying on it. I moved in 2017, and didn’t update my license address until a year later when I needed to renew my license. Now, it is advised that you probably update your license with your new address sooner than I did… but not before closing.
2. You can buy a home with zero money out of pocket.
FALSE: You CAN BUY a home with NO down payment as there are programs to assist with down payment, and yes, people use these programs ALL the time. Don’t let any lender tell you that these programs don’t exist… because they really do. That being said, however… you do need some money though. As a buyer you will need to come up with an Earnest Money Deposit….You will need to pay for a Home Inspection…You will need to pay for an Appraisal. I have done a blog on these fees if you would like to go towww.freehomebuyerclasses.com to hit that up. There are also a few other
3. You get a better ‘deal’ if you call & work with the sellers agent
FALSE: Oh my heavens… is there a more FALSE statement than this? I’m not certain… maybe #1? Anyhow, working with the sellers agent, or someone on their team is like being married, getting divorced, and calling your soon-to-be ex’s lawyer and asking if they’ll help you too. I can not tell you what to do…I’m not your mother… but you should ALWAYS have YOUR OWN Realtor. Your Realtor works for you… their job is to protect you to the best of their experience, skills, and knowledge. The sellers Realtor’s job is to do the same for their client…the seller.
4. You need to pay a ‘buyers agent fee’
FALSE: sigh… FALSE… this is like part 2 of #3. When a seller signs a contract to sell their home, part of that contract goes over the commission they are going to pay their agent. The sellers agent then splits that commission with the buyers agent. Some Realtors/Companies talk about ‘listing fees’ and ‘buyers fees’. Ok…they do this to make their fees seem ‘cheaper’ than other peoples. It’s like telling someone… “I’ll sell your home for only 3%, and only for 3% when you buy.” Ok… so 3+3 still equals 6, right? If you choose to pay a buyers agency fee… you can, but most likely… you shouldn’t be. If you are selling your home and something sounds to good to be true, maybe it is? Ask what the fees include? Remember high school English… Who, what, when, where…and how… Always ask questions.
5. You need to sign this contract
TRUE & FALSE: When you are selling your home, yes, you will sign a contract with your Realtor for a certain length of time to represent you, and to market your home to potential buyers and their Realtors. You will want to know what the release terms, commission, and marketing is…and what that all entails When you are buying a home… no, you do not have to sign a contract with your Realtor to buy that home. Signing a contract with a Realtor to help with buying a home actually protects the Realtor more than you. You do not have to sign a contract with a Realtor to see homes in a new development. Again, I have a blog regarding agency, who does what and questions to ask… where? See #2.
6. I saw a Sponsored Facebook Ad today that gave a list of things that ‘buyers should know’ before buying a home. One of these ‘list items’ said that a buyer should ‘budget for homeowners insurance & property taxes’.
FALSE! Do Realtors who pay money to sponsor these even read them before they post them??? No… as a buyer you do NOT need to budget for homeowners insurance OR property taxes. Your Mortgage Payment will INCLUDE these items as part of your payment. These are not items you pay separately.
7. Whether this is your first home, or you’ve bought homes before, you should take a home buyer class
TRUE. Yes, you should take a home buyers class, but unfortunately not all classes are created the same. Sadly, getting a Real Estate License in Washington is ridiculously easy, and one of the first things they tell new Realtors to do is to host a home buyers class. However, as seen with these items above that I’ve been asked recently, most people teaching classes have no idea what they’re even talking about. Ask questions… how long have you been licensed? How long have you taught classes? Where do you teach classes at? How many homes have you sold? What can you tell me about the classes you teach?
So, why are these questions important? Because most classes are a way for the lender/Realtor teaching the class to try to get clients. Now honestly, anyone who teaches a class is hoping you will call them to help you with your adventure, yes… even me. However, we strive to keep our classes as non-promotional as possible which is why we teach them at community centers like Marshall & the YMCA. We know that 3 hours (ish) is a long time so we try to also have fun with and during the classes as people usually remember more with humor.
There is a plethora of mis-information out there that just keeps getting shared because someone doesn’t know. Don’t be mis-informed because in real estate what you don’t know CAN financially hurt you. There’s like a million (only slight exaggeration) of home buyers classes on facebook right now… try to make certain you are taking a class that has some history to it…not a class that is squeaky new.
8. You don’t need to take a class if you are selling a home (or buying a home)
FALSE. I was talking with someone the other day who called me with a question. They’re working with a lender who told them to call a Realtor whose number he gave them. They told the lender that they were scheduled to take a home buyers class (not one I teach), and the lender told them that they didn’t need a class. That he (the lender) and the Realtor that he told them to call could help them with anything they needed to know. Why do you think that the lender didn’t want them to take a class? Isn’t more knowledge good? One of their friends told them to call me to ask me some questions they had, and these were two questions they asked. There are many good Realtors & lenders out there. There are also many, many classes right now. Many of these classes are promotional classes meaning that the classes are not so much about information, but more about trying to get clients…. a lot like open houses are more about trying to get peoples names, numbers, and email addresses and less about selling a home. The lender in question was afraid that these folks would go to a class and not work with them anymore. This lender was also worried that their clients would get some of that mis-information that is going around. Classes are good, and information is good. Questions are the BEST though. Call around… ask lenders questions, and ask Realtors questions… you will get a ‘feel’ about who knows what, and who’s feeding you a line. These folks did not like the Realtor they were told to call. They are also purchasing in an area that I can not help them as I don’t work in Oregon. I gave them a couple of numbers of Realtors that I know that can help them, but told them they can always call me with questions.We’re here to help…
If you, or someone you know is thinking about selling a home. YES, you should absolutely take a class. There are seller classes available at www.learningtobuyahome.com…again…non-promotional & free. Take a home buyers class as well. Knowledge is never a bad thing, and whether buying, or selling…there’s a lot to know, vocabulary to go over, paperwork to discuss, and so much more. It’s scarier to sell a home because it IS your home. When you are selling and buying at the same time… it’s a juggling process. You need to know how that works because GI Joe still knows what they’re talking about.
9. You need a 700 or better credit score to buy a home
FALSE. You can buy a home with a credit score of 580, but it will be more difficult, and there will be higher fees & interest rates. Their will be some programs that you can not utilize unless you have a 620 credit score. Those 40 points though… a good lender can help you with that. A credit score is a way for lenders to determine how much of a ‘risk’ you are….how likely you are to pay back the loan. The higher the credit score, the lower the interest rate. However, I will tell you that the VAST majority of folks have credit scores in the mid-600 range…and they purchase homes ALL the time. In fact….coolest story… I talked with a gal about a year and half ago with a credit score in the low 500’s. About a week ago their family received keys to their very own home! 4 bedrooms, living room, vaulted family room with brick fireplace, and a remodeled kitchen….with a HUGE yard for their puppies and kids. Her landlord had given her a 30 day notice because he decided to sell the home. We had 30 days to find a home, do the inspections, the appraisal, and close on the home. Challenge accepted! We did it!!
10. You can be too old for Disney…
FALSE! You are NEVER to old to enjoy Disney! Ok, Ok, Ok… So I had someone call me wanting to look at homes because they were pre-approved. Perfect! That is what we want… Meet with a lender, get pre-approved, and THEN go look at homes with your Realtor. I ask about the type of home they are hoping to find, what price range, type of loan, and who their lender is. This is where it got weird… they told me they took a ‘quiz’ on the lenders facebook page that took them to the lenders website page where the ‘quiz’ told them how much they were pre-approved for. Ummm….no… you are not really pre-approved. But the website said they were, and they answered all the questions on the quiz. Yeah… that’s not how this work…that’s not how any of this works…. It’s not that easy. When meeting with a lender they will want to meet with you…in person… and see copies of your bank statements, paycheck stubs, credit reports, and yes, W-2’s as well. The file has to be approved with the underwriters so that you are really pre-approved. Remember that getting pre-approved doesn’t mean that you are guaranteed to buy a home… a pre-approval is a snapshot of your current financial situation…if your financial situation changes AT ALL that means that your pre-approval changes as well. I had a client lose their loan because they were working too much overtime. 🙁 I have a client who is a bartender… she couldn’t deposit her tips for 3 months because it’s not just money OUT that is being tracked, but money IN too.
Lots of information this week…sorry! I also apologize for not being timely this year with these. The last 6 weeks has been crazy in my home as my oldest daughter was pregnant with a high risk pregnancy and we’ve had a LOT of doctor appointments these past few weeks. Last week, my daughter and son-in-law had a beautiful little girl…born at 35 weeks. She was in NICU for 5 days, but they brought her home just this week. She’s amazing! It is very weird to be a ‘grandma’, as I still have a 9 year old. 😀 That is what we get for having babies young, and older too. Now… if anyone wants to tell me how young I look… I am forever grateful!!
I’m always available to answer your questions, so feel free to reach out to me anytime. 🙂
Remember that this is just a quick overview…. again…and I can’t say this enough…please remember that your agent is NOT a salesperson, and should not be acting like one. Real Estate is not really about houses, it is more about relationships. Your agent, and your lender work for YOU. You drive the bus…we are merely GPS to help you get to your goals.
Like the classes, this weekly blog email is to help you with your home adventure. The goal is to be informative and non-promotional. 🙂 All home buying adventures should START with the Home Buyer Education Classes. Don’t talk to lenders/agents until after the classes so you know the questions to ask, what all the paperwork means, and fully understand the process.
As always…the classes are Free and Non-Promotional. After teaching these classes for 14 years, we are not there to promote ourselves, or any ‘special’ agenda like some classes, and while we certainly hope you will call Chris or I, or both of us, to help with your home adventure, that certainly isn’t the main focus of the classes. If you have any questions about this, or something you have heard… or if you would like me to assist you with your home adventure… please call, email, or text. We are here to help.
Thank you again for your business and your referrals!! …and thank you for referring these classes to your friends, family, and co-workers.
. ..disclaimer…if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings…
Upcoming Topics:
Delayed Possession… What is this & what does it mean to you
Interest Rates (information from Chris Berg,Cardinal Financial)
What do I need to buy a home,
Hiring a Realtor…questions to ask,
What if I don’t have a Down Payment? ….. &….
Debt to Income Ratios….What is this?
Last Week: Property Taxes (the elephant in the room)
Have a great day, and I will talk to you soon,
;-D
