I was asked the other day why I joined Keller Williams Realty? First, let me give you a little history. I had been a part of a company that changed hands a couple of times. My first big company I worked for in Plano was Paula Stringer Realtors and they sold out to Merrill Lynch and then a while later sold to Prudential. Even that franchise went under some changes with one franchise selling out to another. However, I stayed with the companies even though they became different entities. Why did I stay? First, I was very comfortable, my split was acceptable, and I thought they provided me with an environment that helped me create business. In 2000, my husband came on board with me and started to analyze our business model and our expenses. I can remember him…
Quick Calculation for Conventional
- Closing Cost is estimate of $3150 PLUS 1% of loan (i.e., if loan amount is $100,000 the total estimated closing cost would be $4150). PLUS
· Prepaids should be calculated at 2% of sales price (i.e, $100,000 would be $2000)unless the sales price is over $300,000 then use 1.5%. PLUS
- Down payment is based on loan type and preference (line 3A of contract). Minimum of 3% down (Restrictions apply)
- There is no Upfront MI or Funding Fee. PMI is paid until 20% equity (unless paid upfront as a one time cost)
· Conforming up to $417,000 (Jumbo over $417,000)
· Risked based pricing depending on credit score and down payment.
- Typically, the seller is allowed to pay closing
We all would like to stay motivated all the time. However, that is difficult if not impossible or is it? Here are the ways I stay motivated.
- Set goals that are achievable
- Focus on those goals weekly
- Have someone to hold me accountable to my goals
- Read something positive daily to keep me motivated
- Create a weekly plan broken down by each day-set a priority
- Recap weekly about my accomplishments-work on those that need to be improved
- Say positive affirmations every morning
- Be thankful for all the things that come your way even the things that are difficult. Especially the ones that are difficult!
- Participate in training
- Take Action-Keep the distraction out of your life as much as possible so that you can accomplish great
Quick Calculation for USDA
· $100,000 total of pocket (for closing cost and prepaids) is $6075.
· For each $1000 up or down add or subtract $30 ($101,000 would be $6105; $99,000 would be $6045). Try it a couple of times and call us if questions.
· There is no down payment required (line 3A of contract).
· There is an upfront Guarantee Fee that is rolled into the note (calculate it at 2.00%)
· Seller is allowed to pay all reasonable closing cost and prepaids (up to 6% of the sales price)
I was recently asked "when will it become a buyers market?" Great Question and a little difficult to answer, but I will do my best. The big driver of the "sellers market" that we are in is because of reduced inventory of homes for sale and the lack of new listings coming onto the market. Also, a key factor to all of this is that the days on market have been shortened greatly because of the lack of homes. So this means when a new listing comes on the market that it doesn't sit there very long. Things that could change this market is higher interest rates, which no one really wants to see or a slowing of the buying activity because of economic issues. I don't foresee the economy in Texas slowing down. It is one of the 'best" in the U.S. The trend is strong…