It's always rewarding to hear from my past clients even when there's a problem to resolve. I'm confident we can surely find a satisfying solution. Today was especially nice to hear from Ms. Killian. We discussed how her move-in was going and answered questions about Homestead Exemption. Just before saying good-bye, I reminded her to be safe with the approaching winter storm. Excitedly,she began to share with me how she was absolutely certain she'd made the right decision in her home purchase. During the blizzard of December 2009, having just recently moved into her home in OKC, while unpacking, she caught a glimpse of a boy and what appeared to be his father moving around outside her house. As she went to the door to investigate, she saw that they'd shovelled her entire drive and walkway! Refusing any payment offered, they kindly left as quietly as they'd arrived. That random act of kindness confirmed with Ms. Killian what a right choice she'd made! Finding the right home is important....Good neighbors are priceless!

Labels: blizzard 2009, good neighbors, homestead exemption, moving, Ms. Killian, neighborhoods, real estate, snow

As an entreprenuer, I enjoy reading Fortune Small Business, which comes in the mail once per month - free. Today I sat down with my latest copy and viola, a story about how RE/MAX, who Fortune calls "the world's largst real estate brand", got their start.

Click for RE/MAX Story in Fortune Small Business

"When we launched in January 1973, the competition feared we'd steal their best talent." - Gail Main

Labels: Edmond, RE/MAX, real estate

In the early 1990's FHA had about 15% of the home purchase market according to the Inman News. Until a couple of years ago, FHA lost business to the growing subprime market. Once the subprime market cratered, FHA is back in business offering appealing financing for home buyers since they accept lower credit scores than conventional loans and are more forgiving of past financial mistakes. Requiring only 3.5% downpayment is also a plus for first time homebuyers. FHA borrowers pay a monthly mortgage insurance premium (PMI) of .5% per year and an upfront premium of 1.75 percent, which is almost always included in the loan amount. In contrast, Conventional loans require larger downpayments than government backed loans. Interest rates are set by each lender and can exceed those of FHA and VA loans. However, lenders may allow some creative financing options for the Conventional buyer. And of course with the larger downpayment, the PMI disappears quicker once the 20% down is reached.

In short, when considering financing, there are many options. The right financing program may not be ONLY about the interest rate but about the entire package. Looking for a lender? I can help!

Labels: conventional, fha, home loans, Inman News, real estate

I get asked nearly every day, "Is anyone buying homes in this economy?" And the answer is, "YES!"

Every buyer wants a deal and every seller wants top dollar. There are very important keys to both sides of that equation. On the "deal" side it's important to have an experienced realtor who is a savvy negotiator. Today's topic however, is about selling. On the "top dollar" side it's critical to have a home that shows well, is spotlessly clean, staged beautifully to maximize space and priced right.



One of my listings sold for full price last week after only a few days on the market. All of the above came into play and the stars were in alignment for one lucky new homeowner! The seller had been 1.) Diligent about maintaining the home, addressing repair items immediately over the course of the seven years they'd owned it and 2.) Pre-pared their home for sale by de-cluttering rooms and closets and packing up unnecessary items so that their home would be welcoming and spacious.



This particular experience was a classic example of "show" condition and perfect pricing! It did not require high-end furnishings for staging or a team of experts from HGTV. It was simply clean, uncluttered and neatly furnished. The buyers got a great home, move-in-ready and the sellers got a quick sale at full asking price!



For more tips on preparing your home for sale, look here: http://www.kaypratt.com/sellhome2.html

Labels: real estate, sell homes fast, show homes

Now that we are looking a remodel square in the eye, since the devastating tornado, this might be a good time to reflect about how one goes about deciding on a builder. Fortunately for me, the selection process was simple! We've known Jim Hemphill and his wife for many years, long before my real estate business. I've had the privilege of watching Jim's business grow and had the opportunity to see for myself his consistent commitment to quality over the course of 20 years. Our first buisness meeting with him confirmed that we were in good hands and felt comfort in knowing that he and his crew have the experience to bring our home up to the standard and beauty I imagine in my head. From his gentle voice of reason to his unique ability to assist us in decision making, Jim quickly became a professional we knew we could trust and work with. Our remodel is well under way!
Not everyone, however is lucky enough to personally know a reputable builder. In that case, rely on referrals and ask friends and family. People are quick to want to share their experiences, good or bad. Once you ask around and gather a list of builders, visit some homes they've built, then go to the NAHB (National Home Builders Association)
website: http://www.nahb.org/generic.aspx?sectionID=123&genericContentID=284
and check to see if they're a member. That website is a great resource for getting all your questions answered about the home building process.

Labels: Home Building, Jim Hemphill, kay pratt, real estate, remodel, remodelling, tornados

For Donald and Amy, the choice came down to location, location, location. After endless discussions and careful thought, the home that really fits for them is the existing home on the cul-de-sac that first called their name when they drove by it two weeks ago!

Although a brand new home was very enticing and could be built for nearly the existing home price, they wanted the established neighborhood in the same school district they have their children in now. They've made their decision.

In this business, I wear many hats. This time I donned my "horse and buggy" hat and told them the worst case scenario when the cart is before the horse in a real estate transaction. I'm known for 'making things happen' and though it's nice to make a sale, it's far better to have a happy client. Having gotten to know the Denards, they made it clear to me that owning two homes may not be in the best interest for this family of five. After discussing ALL the possibilities, for now they feel that it's better to wait until at least an offer comes in on the home they own, giving them better options for negotiations on the one they want.

Since the lease they're in is flexible, the only thing left to do is get their current home under contract and we'll start the ball rolling! Anybody need a home in Martinez, Georgia:

Labels: existing homes, kay pratt, new construction, real estate

Just as many home buyers do, Donald and Amy Denard are considering whether they will build a home to suit their needs or purchase a home in their neighborhood that already does. It's a tough decision because they have to consider the time involved in the building process as well as the stress involved and of course, the cost. A newly constructed Heartland Home giving them the square footage they want and the extra half bath they'd like may prove to be a little out of their budget. But of course, Donald and Amy would get just what they want by stretching their budget a bit and would be a home they could grow in with their children.

On the other hand, the existing home they feel fits their need but needs updating is in a neighborhood with a pool, a very desirable attraction during the summer months for the Denard's three young boys.

Today they will take a closer look at floor plans, suitable lots and pricing and then compare it with the amenities of the existing home they are also considering. Will they choose to build brand new and get what they want or buy existing and get a home that needs a bit of work but is in a great location for them?

Stay tuned for the next post and find out!

Labels: Buying new vs. existing, Donald and Amy Denard, Edmond, kay pratt, real estate

For many folks, the process of buying a home can be a daunting one. My job mostly consists of guiding, advising, showing, calculating as well as sometimes providing counseling to the stressed-out buyer or seller. From showing properties to the home loan to managing the mountain of paperwork required to get the keys to that dream home, this job can be as frustrating as it is rewarding!

The rewarding part came yesterday as we completed the closing and I tossed Josh the keys to his new home. He seemed a bit nervous at the closing but I chalked it up to first-time-home-buyer jitters. With his girlfriend Amy there for moral support, the closing went well and just as planned. They both went straight to the house to marvel at the new purchase. Even though I knew of his intentions, I was still surprised and moved to tears when he texted me from his brand new home: "She said YES!"

He had planned to propose and awaited the perfect moment. As they looked around Josh's new home, he mentioned a house warming gift for her. He then dropped to one knee and presented the ring! It's gratifying to be part of such a momentous ocassion and watch dreams come true!

Labels: closing, job, josh harrell, kay pratt, real estate