The Wright Team

Catherine & Randy Wright

Catherine Wright's Blog

Renting before Buying, and when to buy

9/27/2017

If you are about to rent a home right now in or around Lawton, Oklahoma, visit RE/MAX Professionals at 1701 NW Cache Rd in Lawton and ask for the rental list. This will allow you the most current list of homes available. They go fast. Be sure to check keys out for your top ten and then pair it down to the top three before making a decision on which one. That will save you a lot of heartache.

When is the right time to buy?

I look for these 3 signs:

1. Job Security: At least two years in schooling or the same field of work and at least 3 years of security ahead.

2. At least a 600 credit score. This opens doors for a mortgage

3. Savings for a rainy day: You want at least a month's budget set aside to allow you to negotiate the best deal. 

 

When you have these set up call our preferred lender for financing options: Don Stiefer at 580-695-9369 

Then call us to begin your search: 580-713-3029

 

3 Steps to do when waiting to Buy

9/25/2017

3 Steps to Waiting

1. Make a List

You and your family have probably already begun dreaming of what the new home will look like. Be specific and write it down. Let everyone have a say on what their dream is before cutting any items off the list. Be sure to know why each item is important. That will make it easier to know which items are must haves and which are not. Consider using Pinterest or some other type of app to keep a dream board. 

2. Keep your Credit Up

Things like opening lines of credit or buying a boat or becoming behind on a payment could all show up negatively on your credit score. Stay in touch with your lender and follow their professional advice on how best to keep up your credit.

3. Save for a Rainy day

At the Wright Team, we usually negotiate for the buyer to have their closing costs paid, but the buyer having some money to use could help in negotiating a better deal on your loan or on the purchase price. Having cash in the bank could prove a valuable asset when the time comes. If we do not use it, it could also be a great way of getting that new sofa you wanted. 

Let us know when the waiting is ended and we can begin the home search. 

Call 580-713-3029

5 Steps to BUYing a Home

9/19/2017

5 Steps to BUYing a Home

#1 Decide on Financing

This is an important step. The agent needs to know what type of home to look for. They match up like this:

Cash=Any home

Uninsured Conventional = Value for home still needs to be there, but it can be uninsured

Convention=Value has to be there. Home Must be insurable. This can be used for either an investment or a residence.

FHA= Full Market Value, limited flaws, Insurable, Must be used as a residence for purchaser.

VA=Must be purchased by a Veteran or Military Service Member, Full Market Value, Limited Flaws, Insurable, Must be primary residence of service member.

#2 Work with a REALTOR(R)

This is the Home Search Process. The Professional agent will be able to determine which houses are right for your financing. Then you work together as a team to find the right houses to look at in person. Usually after 10-20 houses, you have a top three. 

https://youtu.be/YINXPDchlDI

#3 Make an Offer

All the time is wasted if you never try for one. You will probably see some of your favorite houses go under contract before you have a chance to make an offer, so jump in and ask for the terms you need. Your agent should be able to advise you on some of the options. 

 

#4 Close on the House

There is usually a 30 to 60 day process to close escrow. During this time you will

  • Have a Home Inspection and Ask for Repairs
  • Order Insurance
  • Order Appraisal
  • Apply for your loan
  • Your lender will review title work after it is complete
  • Get ready to move

#5 Attend Closing and Accept Keys

You will see three types of closing documents:

  1.  Settlement statement shows the final costs for the purcahase
  2. Your lender will need you to reapply for your loan
  3. There will be a lot of disclosures where you are provided information on the home purchase. 

That is it! You get the keys and move in. 

For all the minutiae of each step, you will need an agent. We would love to represent you. A buyer's agent is a free service. We are only paid when we successfully help you purchase your home. 

 

How to get a GOOD DEAL

7/24/2017

3 Steps to the GOOD DEAL on a House

 

 

I get people in the office all the time who want a super good deal. I want that for everyone as well. I have seen good deals a lot. I have also seen clients make decisions that cause them to lose the deal.

1. Be Honest with yourself and with your agent.

 

It may seem like common sense, but treat your agent like your lawyer. They are held to confidentiality within the rules of the law. Tell them what you really need in a house. Tell them what you would like to have as well as what you are willing to have. It makes it a lot easier to find. When you do not tell your agent what you really want, it will be almost impossible for you to get it. 

 

2. Try to work with people and not bankers as the seller. 

 

If a bank is selling the house, it will always come down to the bottom line or standards at the corporate office. Also, the houses that are bank owned are often inundated with offers from local investors. There is no reason to swim with the sharks when the best deals are possibly waiting outside of that pool.

 

3. Work Fast

When you know what you can afford, what you want, and have a strong agent helping your find it, work fast to get the best house. Too many delays can cause you to lose out. The houses for sale are visible to the rest of the market as well. The best deals go fast, so you need to as well.

 

 

 

Foreclosures

7/3/2017

FORECLOSURES

Everyone wants to save money, so buying a foreclosure seems like a good idea.

 

However, what a buyer means by "Foreclosure" and what a website means

seems to be two separate ideas. 

A buyer means a property that is being sold by a bank for less than what it can be purchased on the real estate market. They have images of flipping houses and hidden equity built up by television

foreclosure rre

shows that seem to show how easy it is to turn a moldy house into a palace. The websites list foreclosures as properties that have had papers filed in court on them. The owner may be behind on their home or not. There may be a short sale or a Deed in lieu of Foreclosure in progress. The house may already have been sold. None of this is taken in mind when it says Foreclosure. 

THE BIG SECRET: HOUSES on the MLS INCLUDE those THAT are FORECLOSED. This means REALTORS sell foreclosed houses all the time. They do not sell them before title work is complete. 

THE BIG CLUE: Houses that say ACTIVE are for sale. 

 

VIDEO LINK

 

 

 

 

For Sale By Owners

2/9/2015

When dealing with For Sale by Owners on the Market place, my primary advice is to list your home with a REALTOR or at least examine the evidence of whether this would be the right choice. We are licensed professionals who are constantly working to hewn our skills to sell your home. We empower you to deal with the market with the best data and the least amount of hassle.

If you still want to persist in selling your home yourself, please call me and I will go over some options that might help you in the process.

New Listings

2/3/2015

I am currently working on two new listings and many very exciting listings in progress. I would love to work with you to buy one of these deals in Lawton. Feel free to peruse the site and check out the link to Featured listings on my home page. I look forward to working with you real soon.

Up and At 'Em

9/27/2012
I just returned from RE/MAX Best Fest where I listened to some great speakers. One thing that really got me was the description of our constant struggle. The struggle is against our selves, especially our own desire for comfort. The speaker used the story of getting out of bed to exercise daily. The struggle is with the desire to stay in bed. The ideas that pop in your head are such as, "It is warm here. It is comfortable here. I can do that later." If you give into that voice you soon find yourself going months without exercise. If you daily fight against that voice you find yourself much healthier and more able to fight other such battles with you self throughout the day. So today I urge you to get up and get at 'em. You will not have today again.

RE/MAX Professionals 1701 NW Cache Road Lawton, OK 73507

8/23/2012

Weekly Update

8/23/2012
I have a new Assistant helping me with keeping order in the office here on the corner of 17th and Cache. Everyone make welcome Shamberly Coleman to the Wright Team. This summer was filled with sales. I was able to get under contract most of my listings (by the Grace of God). I am now rebuilding my listing portfolio. The best sales story was I listed a home that expired from another company after being on the market for a year. In three weeks of listing the property we had a contract that sold it for only $1,000 less than asking price. That was great! As I worked with buyers I was able to help many purchase homes and some purchase investment properties. Both are great ideas. In our current market it is easy to save money by buying a home. Purchasing is often cheaper than renting. Investment properties are still numerous on the market. Many good homes are priced right where with minimal effort you can start receiving rental income.  It is exciting to see good home sales in Lawton, Oklahoma.
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