The Wright Team Catherine's Blog

Catherine Wright's Blog

Business Made Easy

4/16/2018

Business Made Easy

 

  1. The Golden Rule        Do unto others as your would have them do unto you, that is the first point of "Business Made Easy." The first step is to govern your own character and outlook. When you are given a problem, it is not about finding fault. It is about taking care of people. When was the last time you felt the company you were buying from or with really tried to take care of you? Wouldn't that be great? That is what we try to do at the Wright Team. We are not perfect, but we are definitely trying to make the experience of working with us one of being well cared for. 
  2. Be a Part of the Solution         I saw a video the other day that was talking about the difference between fault and responsibility. You can be at fault or not be at fault and still be responsible. At the Wright Team we try to be part of the solution. That means we are not dwelling on whose fault it is. We are trying to work for a good outcome. 
  3. Who is Your Client?        This is a unique philosophy. We have a hierarchy of who the client is. The primary client is the buyer or the seller. The secondary client is the Team Member. The tertiary client is the other individuals participating in the deal. That means it is the other agent, the lender, the title worker, the insurance agent, yes, everyone could possibly be our client. This helps us to make it easy to close a deal. That means even if the hold up is not with our team, we are trying to help get the work done that the buyer or seller needs to be completed. That is what we mean when we tell our client that we are their advocate. We are working in the background to make things work so the process of buying or selling a home is not more complicated than it already is. 

5 Moving Tips

3/29/2018

 

Shamberly, our Closing Coordinator, has been helping with some of the programming for my weekly Facebook show. This week she was the surprise guest as a Military Wife Extraordinaire. She has had a lot more moving than I have and had some amazing advice for all of us. I am bringing it down to the top 5. 

5. Duct Tape

Use the colored or printed Duct Tape to set apart boxes for each room. In our recent move I used this advice. On two corners of the box I taped the color. For my daughter we used pink. For my son we used black. The kitchen was purple. The living room, turquoise, etc... That way when the movers took each box off the truck they knew exactly which room to take it. To cut down even further on confusion, tack a piece of the tape to the door that the color matches. 

4. Baggies

Many things can be organized in Zipped bags. Small bags for forks or spoons, big bags for other items that just will go wondering off if not sealed up. Pack them in the bag and then place them in the box for the room. Larger bags for drawers of clothes. Bag the clothes and keep them in the drawer. Then at the destination just unbag them. 

3. Hanged clothing stays on Hangers

Use the natural corners of the box to place the top of the hangers and lay the clothes in the box already on the hanger. Then, Voila! You open the box in the correct room and hang up your clothes. 

2. Purgatory Box

Keep a box as you move in for items that may or may not have a home. If you are wondering why you have it, send it to purgatory. Check the box in a month. If you know why you have it, keep it. If you do not know, it goes away. 

1. Time

You need a whole month before hosting parties, sending out pictures of the interior, or expecting yourself to have it all together. In that time, have fun with where everything goes. Try new arrangements. Make decisions on which items really earn their spot. The items that do not mesh or are not bringing you joy can be regifted to bring another household joy, or can be thrown away. At the end of the month, take the pictures, throw the parties, and feel at home. 

 

If you have amazing ideas for us to cover on our blog or our show, contact us. We hope this helps to make more houses into homes in our Lawton/Fort Sill community.

The Deal, finding a deal in Real Estate

3/12/2018

the deal

 

Probably about half the calls we get every single week are on bank owned property. Usually the person on the other end of the line is wanting to find the perfect house at a DEAL. The pictures look amazing. The neighborhood is perfect. The price is half of what the rest of the houses are selling for. The problem: If something looks too good to be true, it usually is. We then set the appointment to see this gilded house only to find parts of it missing such as the appliances, the roof, the doors, windows, etc...I have even seen a missing toilet tank cover.....Now really, who does that???? 

The conversation we have over and over and over again is the standards needed to buy a home with an FHA or VA loan with a property as opposed to the condition of the property that looked too good to be true. What comes next? I hear that they just want a deal. There are more ways to get a deal than buying a broken house. This is not an episode on TV. This is real life. Basically, it comes down to math. You heard right, MATH.

Here is the gyst:

A deal is basically a purchase of a property where the buyer pays for the property less than the value of the house is. Really, what you pay for the house is probably going to be the current value of the property, given that most people will not pay more than they have to on a property. Property value is determined by appraisers to simply be the value an average person in the market for a house like the subject, would be willing to pay. You can see the problem in creating a deal. The value is basically what you would pay for it. So how can you ever get a deal? Hard Work, area prices rising, replacing appliances, to name a few. 

The math is simple:

Cost to purchase the house: $$$

Cost to close on the house: $$$

Cost to repair the house: $$$

Cost to hold the loan until sell (Average days on market is about 80 days): $$$

Cost to Sell the house: $$$

TOTAL all these to find your all in cost. 

NEXT, figure out the full market value when you sell the home after you make necessary changes. Multiply that by 96% because houses in our market usually sell for 96% of value. The price you get on the house minus the costs is your profit.  A great deal has a profit there of around 40%. 

For more information about finding a great deal in Lawton by working with teh Wright Team, contact us at 580-647-8281. 

Budgeting Basics and intermediate

3/5/2018

budget graphic

 

  1. Set aside time to jump in. Prepare with copies of your bills from last month and with an updated transaction record of your bank accounts.
  2. Get a sheet of paper and pencil with a calculator or set up a spreadsheet, if available. I suggest Google Sheets.
  3. At the top of the page write: I make$$$ every month. Fill in the money area.
  4. Then list every bill and expense in your month. Don't forget groceries, medical expenses, trips and basic bills such as cars and credit cards. When done take some time to really think through the rest of the month. If you have missed something, add it to the list.
  5. With this done, total the amount at the bottom. That is your month's expenses. 
  6. Now, take a look at it and decide: Is this where I want to be at the end of the month? When I subtract the total expenses from the amount I make, do I have enough to live on? 

STRATEGY

  1. Realize you need to have money at the end of the month to save. In order to buy a home, try to have as much savings as possible. Bare minimum will be $1,250. You will also have a bank examining for if you are a wise investment. They like to see people keeping half of their paychecks to pay groceries and live on. They also prefer a mortgage payment to be no more than 30% of what you make. If you are not there skip the go to the lender step and go to #3.
  2. Your lender will need the information from your expenses and pay. Don't throw this away. Keep it and head to a lender to see if you qualify for a loan. 
  3. If you are not yet ready, look again at the budget. You need to find ways to either make more, without leaving the field of your current job, or spend less. Is it possible to save by paying off a credit card or car? Can you work extra hours and pay that money to reduce debt. 
  4. Make a plan and stick to it. Wars are not won in a moment. They are a series of battles bravely fought. 

I wish you well in the battle. 

Making a House a Home

2/28/2018
  1. Is your house as clean as you like? Consider options such as having children help with chores, hiring a cleaning service, or setting time aside to tackle a project such as that film around the tub. 
  2. Is there a welcome sense to your home? Watch your family and see how they spend their time, where they are happiest, and why. Then take time to make life easier for them in the home. Having places to talk or enjoy hobbies is important. It could be that a room is being over or under utilized. Moving the furniture to where you can reach what you need or can speak with your family, can make a big step to adding a hospitable element to the home. Maybe have some healthy snacks out on the counter ready for kids when they come home. It is the thought behind it that makes the home feel welcoming. 
  3. Watch out for snares to your time and your energy. If the house pulls heavily on you, be an investigator and figure out why. I have found not having the ingredients to common meals accessible, or not having access to dishes I use all the time, takes my time away. So, I move the items I use all the time to places that are closer and I move the items I do not use further away. A bit of investigation and proactivity can make a house work for you and not against you. 
  4. Do you feel relief or stress when you walk in your door? It could be there are areas of clutter that need to be cleared out. Maybe the light is out in the hall and needs to be fixed. 

If you take a few minutes to really look for this in your home and then plan how to make it better, you are on your way to really making your house your home. 

sales 2018 update

2/26/2018

sales 22618

Real Real Estate coming Monday

2/24/2018

rre 22418

Updated Sales

2/21/2018

sales 22118

REO Foreclosure

2/12/2018

reo

 

Hints:

  • When the website says "Foreclosure" It is going through the process of a foreclosure. It is not for sale. It probably will be sometime within the next year. 
  • Buying a home to live in and buying an REO are not usually the same process. When you purchase a home you want it to be in good condition so you may move in immediately. There is usually a significant delay to when you purchase an REO to when it is ready to be lived in. 
  • The reason the house is in bad condition is because of 2 reasons: malicious damage or delayed maintenance. Both reasons can be equally bad.
  • Most mortgages CANNOT be used to purchase an REO.
  • An REO is a risk. You purchase the home "AS IS." Buy cautiously. 

Home Foundations

2/5/2018

foundations

Our area has very unique foundations. I began learning about them almost immediately when I began selling homes in 2010. The original founders of Lawton had come from all over the country for the land lottery. They brought with them their building techniques. Some of the early settlers opened up lumber yards and began making buildings on a crawlspace. In time they learned our houses work best as one story houses with strong foundations laid deep and reinforced with steel and cement. Cement companies opened up in time and began pouring deeper foundations reinforcing them with steel. You will notice until the 1970's most houses were built on a crawlspace. From then on they are built on a slab. 

 

To fix our foundations, I suggest working with someone who has been in business for long enough for their work to be tested. Brent Bracken and Orville Ware are my preferred foundation experts. I also work with a structural engineer when necessary, Dr. Bob Watson. I have been impressed with their knowledge of our houses and our soil. Their work has held up very well and their name is very good. 

In the graphic above are some things I have learned from working with these professionals. It does not replace having a professional analyse the structure of the house. If you think you have a foundation problem, contact me for their numbers.

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