Is now the right time to sell your home?

12/04/2015 | Author: Jaime Lee

Texas homes are in demand statewide this year, and even though the number of homes on the market is rising, it’s still relative low at only 4.0 months’ worth of housing inventory.

What this means for sellers
It’s estimated that a market with a monthly housing inventory between 6.0 and 6.5 months is balanced between supply and demand. An inventory of less than 6.0 months indicates a seller’s market because there are more buyers than there are homes for sale.

There may be increased competition among homebuyers in markets with fewer homes for sale, which means sellers could see multiple offers or offers above their asking price.  

Work with a local expert
Every market is different, so if selling is on your mind, contact Backus Real Estate Group,we can offer insight into your area’s activity, like how quickly properties are selling, and help you determine the best asking price.

Let our team help you with all of your real estate needs!

Tina Backus, REALTOR

tina.backusrealtor@gmail.com

325-513-6990

Megan Forsberg, REALTOR

megan@redapplerealtors.net

325-267-1088

MAKE YOUR HOUSE LOOK BIGGER WITHOUT REMOVING WALLS

10/23/2015 | Author: Ward Lowe

Instead of just asking me to help with his kitchen remodel, my friend made me an offer I couldn't refuse: Want to come over and knock down a wall?

While that's one way to make your house feel bigger, it's probably not the best option if you're putting your house on the market. Here are a few easier ways to add a sense of space.

Cut the clutter
Everyone knows they should do this, but few people go far enough. Don’t put books and magazines in neat piles—get rid of them. Put knickknacks in storage, and pare down your furniture. It’s better to have a few large pieces than several small ones.

Take a walk
Every house has natural paths, from the kitchen to the dining room or from the living room to the bathroom, and these walkways must be clear. You may not mind detouring around a large sectional to get from the TV room to the kitchen, but buyers will think your TV room isn’t big enough.

Look around
Related to clear walkways are clear views. Keep tall furniture like bookshelves away from doorways, and pull back the shower curtain to expose the entire bathroom. Don’t block any part of windows, sliding glass doors, or French doors.

Pick the right paint
If you plan to repaint some rooms, choose colors that feel cool, such as light blue or light green.

Add light
Not only will light colors create a sense of openness, actual light helps, too. Open curtains or blinds to let in sunlight, and consider adding a lamp to dark corners.

When you’re done with these changes, ask us for objective feedback. We know what buyers will focus on when they enter your house and which rooms might need more work.

Give us a call to get YOUR house SOLD!

Tina Backus, REALTOR

Megan Forsberg, REALTOR

325-513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

The Best Resource for Pricing Your Home

10/30/2015 | Author: Marty Kramer

You’re ready to sell your home, but you’re not sure what to ask for it. No problem … a neighbor just sold her home for $329,000, so you’ll just ask for the same amount.

Wait. That was what she asked for her home. You’re not sure what it actually sold for.

Oh, hey! Didn’t your coworker sell his home for $275,000 a few months ago? That’s solid information. Maybe you should ask for that. If the market hasn’t changed much since then.

Sure, the coworker’s house isn’t in your neighborhood, but it has the same number of bedrooms and bathrooms as your home. Or maybe you should go with the asking price to the neighbor’s house. She probably sold it for close to that number. The house isn’t as nice as yours, but it’s a little larger. And it has beautiful landscaping. That adds some value, but how much?

Putting those two homes aside for a bit, you go to a website that promises to tell you what your home is really worth. An actual number. Now you’re getting somewhere ... if the value isn't off by the 20% margin of error you read about in the site’s disclaimer.

If only there was a way to process all this … pull in more data … make sure it's accurate … account for differences in the properties ... factor in what's going on with real estate prices in your neighborhood. If you could just find some to do all that, analyze it, and guide you toward the highest price that will actually get an offer. Sounds to me like you're ready to work with Backus Real Estate Group!  Give us a call and we will schedule a time to look at your home so we can get it SOLD!

Tina Backus, REALTOR

Megan Forsberg, REALTOR

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

Low-cost Ways to Modernize Your Kitchen and Bath Before You Sell

05/15/2015 | Author: Bryn Huntpalmer, guest expert

Two of the biggest concerns for any homebuyer are a house’s kitchen and bathrooms. If you update those spaces before you list, potential buyers will feel that they won’t require a ton of work once they move in. Here are places to focus your updates to ensure that your house stands out.

Upgrade the lights
Lighting is a critical part of any good kitchen. One of the simplest upgrades is installing task lights, which are lights directed at parts of the kitchen where prep and cooking work take place. Placing task lights under cabinets or over the kitchen island will draw the attention of buyers and add a desirable design element to the room. Swapping out existing fixtures is easy to do, or you can install battery-operated LED lights—some of these have adhesives that stick to any surface.

Paint rather than replace tile
Hiring a contractor to tear out and replace old bathroom tile can be expensive. An alternative approach is to paint them yourself. Ceramic epoxy adhesive coverings are relatively cheap, look good,

Install a pedestal sink

Vanities and sink cabinets eat up a lot of space in smaller bathrooms. Free up some territory by replacing the existing sink with a pedestal sink. Not only will it create a sense of space, but it’s less boxy with artistic lines, adding visual appeal to a bathroom. You can get back lost storage space by adding a small cabinet over the toilet or replacing a mirror with a mirrored medicine cabinet.

Stain or paint kitchen cabinets
Don’t replace old kitchen cabinets—stain or paint them. The results will completely transform the space. This is a time-intensive but easy project for you to accomplish.

Revitalize your floors
Are your hardwood floors showing wear and tear? Restore them—it’s simpler than you think. Like refinishing cabinets, stripping and restoring hardwoods requires more time than anything else. Make sure you identify any compromised sections of flooring before starting the process, since restoration of bad wood will make the job look cheap.

If your home has carpet, consider tearing it up and staining the concrete underneath. This cost-effective way to modernize your living space attracts buyers who view carpet as an outdated flooring option.

CALL me TODAY to schedule a FREE consultation on listing YOUR home!

TINA BACKUS, REALTOR

Red Apple, REALTORS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

3 ways to prepare for homeownership while renting

6/26/2015 | Author: Summer Mandell

You may not be quite ready to buy your first home, but that doesn’t mean you can’t start preparing now. Here are three actions you can do while renting that will put you in a better position when you’re ready to buy.

Take a homeowner’s budget for a test drive. While you can’t predict all homeownership costs down to the last penny, you can come up with a rough estimate of how owning a home will impact your budget. A Texas REALTOR® can help you figure out how much home you can afford, the potential mortgage payment you’d make, your local property taxes, and repair costs you might want to consider as a homeowner.

Check your credit report. Before you apply for a loan, you should request a free credit report to find out what a lender would see. If your report has errors, you can correct them before they affect your ability to qualify for a mortgage loan. And if you find legitimate flaws, you might be able to take steps to improve your credit before purchasing a property. Your Texas REALTOR® may be able to help you find resources to repair your credit.

Create a realistic wish list. There’s probably not a home that will offer every single amenity you desire, but you should have a general idea of what you’re looking for. So while a home with fewer than two bathrooms may be non-negotiable, perhaps you’d see the potential in one with a smaller kitchen or a not-so-appealing exterior paint job.

If you would like more information about the home buying process or where to get pre-qualified, I would love to help you with both of these!

Tina Backus, REALTOR

Red Apple, REALTORS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

Tips for Buying

 Is an HOA right for you? 

Homeowners associations help protect property values and create a pleasant living environment, but they also impose certain rules on residents. Here are four questions to ask before buying property in an HOA: Can you afford it? HOAs are funded by member dues paid monthly, quarterly, or annually. Be sure to ask the seller how much dues are and when they’re assessed so you can factor the cost into your purchase. Will you follow the rules? All members of an association must adhere to a set of rules known as the covenants, conditions, and restrictions (CC&Rs). These rules regulate many facets of homeownership, such as lawn maintenance, architectural design, and where you can park vehicles. Review a copy of these guidelines before you decide to buy. Will you use the amenities? HOA dues are often used to maintain common areas and amenities, such as swimming pools or hike and bike trails. These can be selling points for some buyers, while others may not expect to use them. Even if you don't swim, these features could add to the property’s future resale value. Do you work well with others? You may be able to get involved in the association by volunteering for a committee or by serving on the board of directors. These can be great ways to lead the association and meet your neighbors. If you’re looking to buy a new home, talk with your Texas REALTOR® about the pros and cons of living in an HOA to determine if it’s the right decision for you.

If you would like more information about HOA's or the home buying process, call me to schedule a FREE consultation!

Tina Backus, REALTOR, ABR, GRI, TAHS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

Information provided by Texas Association of REALTORS.

DID YOU KNOW THERE IS A DIFFERENCE???

So, you hear the terms customer and client being said by REALTORS, but do you know what they actually mean?  Yes....there is a difference...a BIG difference!

Here's a visual aid for you.  Which would YOU rather be!?!?

BUYER - CUSTOMER                                                                BUYER - CLIENT

*Honesty                                                                                  *Honesty

*Complete loyalty to seller's needs                                          *Complete loyalty to buyer's needs

*Relay to seller all information received                                 *Keep information confidential -

from buyer                                                                                  buyer can talk freely

*focus on our seller-client's needs in selling;                          *Consider alternative solutions in find-

limit properties to MLS only                                                     ing property to fit the buyer's needs 

*Less attention given in searching new listings;                     *Given first opportunity to view new

show buyers properties listed strictly within buyers's               listings

pre-qualified affordability range                                              *All properties are available for

*Disclose just material facts regarding                                      showing consideration

properties discussed                                                                 *full disclosure of all facts and 

*No advice regarding property, only the facts                           pertinent information

*Get the best price for the seller and                                       *Advice and opinion along with facts;

 fulfill the seller's needs                                                             educate the buyer

*Cannot give an "opinion of value" (CMA)                           *Make every attempt to find the best

 unless it supports the seller's listing price                                property for the buyer and fulfill the 

*No price counseling                                                                buyer's needs

*Suggestions made regarding financing or                             *Volunteer an "opinion of value"

any other terms must benefit the seller                                      (CMA)/specific property value

*Prepare offer on behalf of seller                                            *Provide price counseling

*Attempt to strengthen the seller's                                          *Suggestions made in buyer-client's

negotiating position                                                                   best interests

*Attempt to solve problems and close                                   *Prepare offer on behalf of buyer

the transaction to satisfy the seller                                         *Negotiate on behalf of buyer

                                                                                               *Attempt to strengthen the buyer's

                                                                                                 negotiating position

                                                                                              *Attempt to solve problems and close the

                                                                                                transaction to satisfy the buyer

As you can see....you are only represented when you have a buyer's representation agreement signed with the REALTOR!  Don't let the largest purchase you will ever make be handled by someone that represents the seller!

If you are in the market to purchase a home, call me to help you with this process and REPRESENT YOU!

Tina Backus, REALTOR, ABR, GRI, TAHS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

149 Tempest, Abilene, Texas

$259,900

Got lots of stuff and need lots of space? This wonderful Wylie ISD home offers 4 bedrooms and 2 baths. Great size breakfast area so you could use the formal dining room as an office or playroom! Sitting on 2.79 acres, there's plenty of room for guy stuff! Don't want him coming in the house filthy? There's a sink in the garage workshop area for clean up! You can also have your own orchard...fruit trees and grape vine are already in place! Wonderful subdivision with only two streets, so you can let the kids go explore! Sit on the back patio and enjoy the wonderful view! Don't miss it!

Bedrooms: 4

Bathrooms: 2

Dining: 2

Sq ft per CAD: 2166

Acres: 2.79

Call me today to schedule your private showing!

Tina Backus, REALTOR, ABR, GRI, TAHS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

Is now a good time to sell your house? As a Texas REALTOR®, I can assist you with this important decision.

There are many reasons people consider selling a home. Whether you’re thinking of upgrading, downsizing, or simply making a change, you may be wondering if the timing is right. Here are several reasons why this may be a good time to put your home on the market. Housing prices in Texas have been steadily rising at a moderate pace for many years, even while other states have experienced wild price fluctuations. Chances are that your home is worth more than even a few years ago.   Record-low interest rates motivate buyers to act on their desire to purchase a home and give them more purchasing power. Unlike several other states that experienced wild price fluctuations and skyrocketing foreclosure rates, Texas does not have a glut of unsold homes. According to the Real Estate Center at Texas A&M, the statewide supply of homes is at a level that leads to a fairly balanced market. Individuals and businesses continue to move to Texas, and this ongoing population growth feeds a strong demand for housing. As a Texas REALTOR®, I can show you how our current housingmarket conditions factor in to your goal of selling your home. You can count on me to put your interests first while I assist you during this exciting process. For more information about buying or selling a home, call me to schedule a FREE consultation!

Tina Backus, REALTOR

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

This information is provided by Texas Association of REALTORS.

20 REASONS TO HIRE A REALTOR

1. Homes are bought by comparison. I have a large inventory at my disposal through MLS while you have an inventory of one.

 2. I am very familiar with competitive houses so I can help you position your home well.

 3. It is hard negotiating for yourself. I have lots of experience in writing contracts and can negotiate aggressively on your behalf.

 4. Buyers are not always forthright about their financial situation. I insist on prequalifying before I even bring you an offer.

 5. My lender contacts and mortgage experience help buyers get the financing they need.

 6. Most buyers don’t want to tell the seller why they don’t make an offer. I can probe the buyer or his agent for that information.

 7. Any follow up you do with a buyer can be seen as desperation. I follow up as part of my job so that you are not perceived in a compromising light.

 8. I can showcase your improvements better so that you don’t appear like you are “selling.”

 9. Most sellers who spend their time as a For Sale By Owner end up by listing in the end. A recent NAR survey found that only 11% of sellers nationally ended up selling by owner. Why spend your time and money if in the end you will hire a REALTOR®?

 10. Unqualified buyers can tie up your home. I make sure that doesn’t happen. 

11. Personality conflicts with a buyer can get in the way. I come between the buyer and the seller so that personalities don’t enter in.

 12. Most buyers use a REALTOR®, which increases the number of buyers who will see your home. 13. I can mobilize my company agents and other area REALTORS® on your behalf.

14. An NAR survey of recent closed sellers found that REALTOR®-assisted sales brought in 20% more sales price than For Sale By Owner sales.

 15. A FSBO sign makes you vulnerable for any curiosity seeker or unsavory character. When you list, only buyers accompanied by a REALTOR® will get into your home.

 16. Being accessible to show your home limits your personal time and cuts down the available showing time. When you list, your property will be available during normal showing hours and the prospect will always be accompanied by me or another REALTOR®. 

17. Additional exposure through MLS and the Internet brings you a higher price.

 18. I orchestrate the contract-to-closing process, including the appraisal, buyerloan process, title, inspections, pest control, survey, etc., taking this burden off of you.

 19. I make sure that you are compliant with all laws relating to the sale of your home.

 20. I only get paid when I get the job done. 

This information is provided by Texas Association of REALTORS.

IF YOU ARE LOOKING TO SELL YOUR HOME, I WOULD LOVE THE OPPORTUNITY TO SIT DOWN WITH YOU TO DISCUSS MY MARKETING PLAN!

Tina Backus, REALTOR, ABR, GRI, TAHS

Red Apple, REALTORS

(325)513-6990

tina.backusrealtor@gmail.com

www.tinabackus.com

How Important is Curb Appeal Anyway???

Thinking about listing your home for sale??  Before you do, take a look at your curb appeal...even ask a friend, neighbor, or REALTOR to give you their honest opinion!

The curb appeal of your home is VERY important!  Today's buyers are looking online first, then driving by the listing BEFORE contacting their REALTOR to see the inside!  If you don't catch them online AND when they drive by, you have lost a sale!  Yes I know, you have done so many updates to the inside...and it's gorgeous, but buyers will never see it because they can't get passed the front door!

There are many things that you can do to improve the curb appeal of your home....and it doesn't have to cost a lot of money!  Simple things like tiling a plain concrete porch, adding some potted plants with bright colors, cleaning up and mowing the yard (yes, I know you would think this is a given, but it's not!), painting the front door, etc.  You can do a little or a lot...it's your choice, but you don't have to spend a lot of money to make it look like you spent a fortune!  I have a lot of great inexpensive tips for getting the most bang for your buck!  However, if you feel like you want to tackle a little bigger project, by all means...do it!  You may or may not get more value from the project, but you will make your house more marketable, which means it will sell quicker!

Here's some great curb appeal pictures.  Just remember, do a little or a lot, just do it!

If you live in the Abilene,
Texas area and would like for me to give you a FREE consultation on selling your home, please give me a call or email me! (325)513-6990  tina.backusrealtor@gmail.com  www.tinabackus.com

5 Golden Rules to Home Staging on a Budget

Source: National Association of REALTORS

Pending Home Sales Rise in January to Highest Level in 18 Months

Source: National Association of REALTORS

WASHINGTON (February 27, 2015) — Improved buyer demand at the beginning of 2015 pushed pending home sales in January to their highest level since August 2013, according to the National Association of Realtors®. All major regions except for the Midwest saw gains in activity in January.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, climbed 1.7 percent to 104.2 in January from an upwardly revised 102.5 in December and is now 8.4 percent above January 2014 (96.1). This marks the fifth consecutive month of year-over-year gains with each month accelerating the previous month's gain.

Lawrence Yun, NAR chief economist, says for the most part buyers in January were able to overcome tight supply to sign contracts at a pace that highlights the underlying demand that exists in today's market. “Contract activity is convincingly up compared to a year ago despite comparable inventory levels,” he said. “The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth.”

Yun also points to more favorable conditions for traditional buyers entering the market. All-cash sales and sales to investors are both down from a year ago¹, creating less competition and some relief for buyers who still face the challenge of limited homes available for sale.

“All indications point to modest sales gains as we head into the spring buying season,” says Yun. “However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn't healthy or sustainable in the current economic environment.”

The PHSI in the Northeast inched 0.1 percent to 84.9 in January, and is now 6.9 percent above a year ago. In the Midwest the index decreased 0.7 percent to 99.3 in January, but is 4.2 percent above January 2014.

Pending home sales experienced the largest increase in the South, up 3.2 percent to an index of 121.9 in January (highest since April 2010) and are 9.7 percent above last January. The index in the West rose 2.2 percent in January to 96.4 and is 11.4 percent above a year ago.

Total existing-homes sales in 2015 are forecast to be around 5.26 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase near 5 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

The National Association of Realtors®, “The Voice for Real Estate,” is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

# # #

^{1According to NAR's January Realtors® Confidence Index, all-cash sales were 27 percent of sales, down from 33 percent in January 2014. Sales to investors represented 17 percent of the market in January, down from 20 percent a year ago.}

^{*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.}

^{The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.}

^{An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.}

^{NOTE: Existing-home Sales for February will be reported March 23, and the next Pending Home Sales Index will be March 30; release times are 10:00 a.m. ET.}

Real estate data is everywhere, but what does it mean?

03/20/2015 | Author: Marty Kramer

We are swimming in data these days.

In real estate, you can find statistics, trends, and numerical predictions on home sales prices, foreclosure rates, housing inventory, commercial real estate absorption rates, mortgage activity, prices per square foot, the value of remodeling projects, and more.

But what do you do with all this information? Are the sources reliable and up-to-date? If the numbers are for your region (or state, city, or ZIP code), do they translate to your neighborhood, that street in that neighborhood, and that exact property on that street in that neighborhood?

Most important of all, what do all those statistics mean to you if you’re getting ready to buy, sell, or lease a home or commercial property?

It’s one thing to look at numbers on a website—quite another to do business in the actual world of real estate. A Texas REALTOR® lives those numbers day in and day out and knows how the data relate to actual properties and real world negotiations. So digest all the real estate data you can find. Then hire a Texas REALTOR® to help you sort it all out and achieve your goals.

Can I send counteroffers to more than one buyer?

02/24/2015 | Author: TAR Legal Staff

Three different buyers submitted offers for my house. Can I send counteroffers to all three and accept the response I like best?

When you make an offer or counteroffer, you give the other party the power of acceptance to create a binding contract. Therefore, if each buyer accepts your counteroffer, you would be legally bound to sell the property to three different buyers.

You could make a counteroffer to only one prospect. Or, if you’re working with a Texas REALTOR®, he or she can provide each buyer with the Texas Association of REALTORS® form Seller’s Invitation for Buyer to Submit New Offer. This form indicates that you aren’t accepting the original offer, and allows you to outline what you’re looking for in a subsequent offer. The form also states that your property will remain on the market, and that you may consider and accept other offers.

How to arrive at the best listing price for your property

02/27/2015 | Author: Editorial Staff, Texas Association of REALTORS

Before you list your home for sale, you have to decide on an asking price. Many consumers consult real estate websites, but be aware that not all such websites have reliable information.

The best source for reliable info
A Texas REALTOR® has the accurate information you need to arrive at a competitive price to attract buyers. What makes a Texas REALTOR® a trusted source?

One reason is that a Texas REALTOR® has access to actual sold data that he or she can use to determine the sales price of properties similar to yours. Some of the criteria used are:

• Location. Properties in the same neighborhood or located as close as possible to yours.
• Timing. Properties that were sold recently, preferably within the past few months.  
• Size. Properties that are relatively the same size based on square footage, number of floors, or the size of the lot.
• Features. Properties with the same number of rooms, comparable amenities, or similar upgrades.

How’s the market?
Another important factor in determining a listing price is how your local real estate market is performing when you decide to sell. Is it a buyer’s market where inventory is high, or is it a seller’s market because there aren't many homes listed?

A Texas REALTOR® has the resources, experience, and knowledge to help you reach your real estate goals. 

I would love to help you get your house SOLD!  Call me today and let's get started!

3 expenses other than the mortgage you need to be able to afford

02/13/2015 | Author: Ward Lowe, Texas Association of REALTORS

Your loan terms greatly affect how much you can spend on a house, but the mortgage isn’t the only cost you need to take into account when buying property.

Consider the government
Find out what the property taxes are on a house. Will yours differ? You may not qualify for the same exemptions as the current owners, or you may not benefit from appraisal caps in place. Also, taxes can vary from one neighborhood to the next, so see if comparable homes relatively close to one another are subject to different taxing entities.

The cost of membership
Are you buying in a homeowners association? Fees for HOAs can reach several hundred dollars a month. That cost may be worth it to you for certain amenities, but you should factor this cost into your buying decision.

Keep the lights on
Even though utility costs are consistent within a community, the size of a house and its energy efficiency can mean great differences in your bills. You may be able to look at past bills from the utility company, or you can ask the current owners if they will provide copies of their past statements.

Once you know how much your mortgage will cost, figure out what else will contribute to your monthly bills. Be sure to have your Texas REALTOR® help make these determinations.