Buying or Renting: Which Is The Best Option For You?

When it comes to buying or renting, an argument can be made to defend both sides. Both come with pros and cons, but as you decide which option is right for you, here are a some factors to consider. picket-fences-349713_640

Reasons to Buy

  • Apply for a fixed-rate mortgage loan and your monthly moments won’t go up for the life of the loan, unlike rent which is more likely to keep increasing.
  • Your mortgage interest might be tax-deductible. To learn more about this and if your property taxes and mortgage points qualify also, speak with your tax advisor to learn more.

Reasons to Rent

  • If you’re not ready to settle down in one location, or may be relocating soon, renting is a short term commitment.
  • Repairs are performed and paid for by your landlord
  • If your rent payment is late, your credit score won’t be affected

After you’ve taken some time which is the best option for you, and decided buying is the way you want to go, first take a moment to check your credit score. This will have a huge impact when you go to apply for your home loan. The lowest credit score you can have, and still (possibly) get a mortgage loan, according to the FHA is 580. However, your interest rate will probably be a lot higher and other fees may apply.

To learn more about your credit score and if you qualify for a home loan, speak with your bank, credit union, or mortgage lender. They can answer all your questions and help you decide your best course of action.

Once you know your credit score, take some time to organize your paperwork. Applying for a home loan is a long process and requires a lot of financial information. In most cases, mortgage lenders require the previous W-2’s from the past 2 years, tax returns, 2 recent pay stubs, and the past 2 months of bank statements (every page). The more organized you can be in your paperwork, the less stress you’ll have in the mortgage process.

As you continue down the path towards home ownership, decide how much you can afford. Again your bank, credit union, or mortgage lender can give you further information and insights, but help give you some idea, there are mortgage calculator tools you can use to get an idea.

Once you’ve learned how much you can afford and have been pre-approved for a home loan, hire a real estate agent to help you navigate the home buying process and find your dream home. This is a huge investment you’ll be making and you’ll want to make sure you’re choosing the right home for you and your family.

Ready to buy? Give us a call today! We are here to answer your questions and assist you in making your homeownership dreams come true.

Welcoming Kailey Cornick

Welcome Kailey CornickLet us introduce you to our newest team member and Realtor, Kailey Cornick! We are thrilled to have Kailey joining us at RE/MAX Metro. She joins RE/MAX Metro with 2 years of Realtor experience and looks forward to working under Michael Gray, a broker she knows and trusts.

In her free time, Kailey enjoys reading, hiking (with her dog), and time in the great outdoors. She also enjoys spending time with her family and friends, playing with her son, and taking him to the racetrack to watch her husband race.

Welcome to RE/MAX Metro, Kailey! We are excited to have you on our team and are looking forward to assisting you, and celebrating with you, in all future success!

Kailey Cornick
Realtor®
801-631-2960
KMC1217@gmail.com

Build a Strong Mentor Relationship

If you are starting out in the real estate business, finding a mentor is an excellent way to learn the ins and outs of the business. There are many ways to get a mentor, from not asking a stranger, to Richard Branson’s guide to finding a mentor. Sheryl Sandberg’s book, Lean In, gives some wonderful insights on creating a relationship with a possible mentor.tie-690084_640

Women seem to have a harder time finding mentor relationships compared to men–though it is not impossible. If you are looking to meet new people Girlfriend Circles and Friendship Circle are two great sites to check out.

When you begin to establish your professional relationship here are a few tips to keep in mind:

Give and take. Like any relationship, a mentorship is a two-way street. Your mentor can help give guidance, help grow your network, and sometimes present opportunities. However, it is important to show gratitude, ask about their career and challenges, and help them out where you can.

Establish goals for the relationship. To keep you on your career path and not waste your mentor’s time, discuss and agree upon goals and what you’re going to do to make the venture successful. Also, take time to review the goals every few months to ensure you’re meeting your goals.

Don’t limit yourself to just one mentor. Every person you meet has various skills and expertise, something you can learn. Think of your mentors as your own personal board of directors, with different talents and insights. Who are 5 people right now you would as a mentor? Set clear intentions and then ask them to be your mentor.

3 Essential Tips For Succeeding In Real Estate

As real estate agents, we’re always striving to give our clients the best service possible. Help up your game with these 3 tips: tumblr_ndyvpvMyyT1tubinno1_1280

  1. Learn something new. To succeed in business, regardless your occupation, it’s vital you keep learning. Successful agents, and their teams, should constantly be reading the latest articles, learning new skills of networking, listening to podcasts, and taking classes to keep them up with the latest trends. Take some time each day to schedule time to develop a new skill or attend a seminar. Invest in your growth today to boost (and succeed) in your business.
  1. Focus of the needs of others. To be successful in real estate, it’s important that you focus on the needs and wants of your clients. Be proactive to help them, be ready to answer their questions and provide solutions in a timely manner.If you’re willing to go the extra mile for your clients they’ll know it and appreciate your concern in helping them buy or sell their home.
  1. Follow up with past clients. Forbes reported that 80 percent of your company’s future will come from 20 percent of your existing customers. Take time each day to follow up with past clients and offer rewards for providing referrals. If you’ve provided your past clients with superior service they’ll be more inclined to recommend you to their family and friends.    

You can read more about how to boost your real estate business at Inman.com. Do you have any tips you’ve learned from expanding your real estate business? Share your thoughts, stories, and tips with us below or on Facebook.

Patrice Walker

Patrice Walker

We are delighted to introduce you to the newest agent to our RE/MAX Metro Bountiful team, Patrice M. Walker. With 2 years of experience as a realtor, Patrice is excited to be joining Michael Gray’s team and is looking forward to continuing her career under his tutelage.

In her spare time, Patrice enjoys cooking, boating, and practicing Aikido. She also enjoys spending time relaxing in the hot sun with her family and friends.

Welcome to the team, Patrice!

Patrice Walker
Realtor®
801-336-7887
ThinkPositiveRealty@gmail.com
www.ThinkPositiveRealty.com

Cathy Ann Halvorsen

Cathy HalvorsenRE/MAX Metro Bountiful is excited to introduce you to our newest agent, Cathy Ann Halvorsen. She is thrilled to be joining Michael Gray’s team and being part of a great company. Cathy is happily married to an amazing man and the mother of 3 beautiful daughters. When she isn’t helping clients find their dream home, she enjoys traveling, boating, and hiking.

Ready to sell or buy, give Cathy a call today! She is ready to help you find your dream home.

Cathy Halvorsen
Realtor®
801-414-6205
CathyHal.Homes@gmail.com

3 Ways To Be More Likeable

flying-639522_640As a real estate agent, one of the key factors of being successful is being likeable and earning people’s trust. To improve your likeability, here are 3 tips to help you boost your career:

  1. Make eye contact. Eye contact can have a huge impact on your likeability with clients, and people in general. Through eye contact, you can bond with clients and team and earn their trust. Be careful here though, eye contact can be a double edge sword, giving more insights on how you feel about the other person.
  1. Work their name into the conversation. When meeting someone new, shoot for repeating their name 3 times in the first 5 minutes of the conversation. Why? This helps build the bond—as long as it is done naturally. To help you avoid the awkwardness of trying to throw their name into the conversation, here is a template to get you started: “Hi ______,” “Nice to meet you _______.” and “Where are you from ______?”
  1. Silence is golden. At times, staying silence can play to your advantage. Silence can make people feel pressured to move the conversation forward, and can get people to feel they should speak, especially when there is that awkward silence. Silence can also be an excellent tool to use in negotiations and other difficult conversations. This might take some practice, but be sure to resist the urge to push the conversation forward.

Learn more about what you can do to be more likeable here.

Our New Broker In Our Bountiful Office | Michael Gray

Michael GrayWe would like to welcome Michael Gray as the newest member of our RE/MAX Metro Bountiful office. Michael was born in Chicago and lived there and Kansas City Missouri most of his life.

His father is a Real Estate Broker in Chicago and so Michael is no stranger to real estate life. He has been a successful Realtor for 25 years and a Real Estate Broker for 20 years.

13 years ago he met and married Cheryl the love of his life. You might know him by his license plate LUVCHRL. Michael and Cheryl are both career people and love their jobs. They work hard but always make time for one another. They enjoy taking their Motor Home and get away to Christian retreats with their church or to enjoy local Utah recreation. They also enjoy traveling abroad.

We are excited to welcome Michael Gray to RE/MAX Metro-Bountiful as Branch Broker.

Michael Gray
Bountiful Broker
801-698-3810
Micheal@REMAXMetroUtah.com

How To Know You Are Ready To Buy

Are you ready to buy a home but aren’t sure if now is the right time? People usually hesitate to buy for two reasons: time and money. As you begin to weigh is now is the best time for you to buy, consider: how long are you planning on owning the home and can you afford to buy?

When looking at the latter question, here 3 things to weigh in your decision.  houses-691662_640

Do you have enough for a down payment? Most lenders require a 20 percent down payment or will charge you private mortgage insurance (PMI). To decide what is the best option for you, speak with your loan officer or lender.

What about the increase in home prices? Home prices are on the rise and with the economy constantly improving, they are bound to keep moving up. However, as you put this into consideration, remember the best decision you can make about buying a home is to decide if it is right for you. If now isn’t the time, don’t do it. You will know when the right time is.

Have you budgeted for monthly expenses? When buying a home, the first mortgage payment can be expensive because you will pay these four things: the principal, interest, taxes, and insurance (also known as PITI). If you have fixed-rate mortgage, you interest and principal will remain the same. However, taxes are inclined to go up depending on what your local county government decides or Homeowner’s association decide.

Ready to buy, but still have your doubts? Talk with your loan officer at your bank or credit union to help you decide if now is the best time.

Quick Tips to Networking

In real estate, meeting new people is part of the job. Networking with others is not always the easiest thing to do, especially for introverts, but this is a skill that can be developed with these 3 tips: team-472488_640

  1. Step Out of Your Comfort Zone. People can be immobilized by their fears which can stop them from interacting with others and going after their dreams. Regardless if you are an introvert or extrovert, you should practice stepping out of your comfort zone.
  1. Keep it Simple. Dale Carnegie put it perfectly in his book, How To Win Friends and Influence People, where he writes that if you are truly interested in others, they will be interested in you. Build strong relationships with others through mutual trust, respect, and empathy.
  2.  Enjoy Yourself. If you are having a good time, people will pick up on your sincerity and enthusiasm. Remember, people can tell if you’re being fake with them so focus on having fun and presenting your best self.