Category: real estate

Posted in Bay City Michigan, Best Time to Sell, Buying Homes, Finding a great Realtor, For Sale by Owner, goal setting, Historic Homes, Home Buyers, Home Buying Tips, home ownership, Home Selling Tips, Just For Laughs, midland, Motivation, Planning, real estate, Real Estate Bay Midland Saginaw, Realtor, Selling Homes, Selling Your Home, Tips for selling your home faster

Monique’s 2021 Thoughts: If Only I’d Kept My Pants

Posted on by Your Real Estate Matchmaker

Just when we thought the world couldn’t get any stranger, back in 2020, along came 2021. There are many topics I could comment on; but as your local Real Estate expert, I’m going to keep it along that road. 

Next month we will have our annual statistics for a year-end review in the real estate world for our local communities. But today I’m sharing my insights on observations of some interesting interior decor changes. 

Have you ever caught yourself saying; “If I’d kept my pants from 20 years ago (or if they still fit) I’d be right in style”? 2021 has been a year of this. Actually, toward the end of the year, I could even say, “Hey, my grandma had an outfit just like that” when browsing in a store.  It began last year with all the high-waisted denims just like I wore in high school in the 1980’s and is moving toward the wild crazy patterns and colors I remember both my grandmother, and her curtains, wearing.

Well, it isn’t just the fashion industry that is seeing the trend toward the 60’s and 70’s. The real estate world is too. What started with a term called “Boho” is  now turning into “Granny Chic” yup, you read that right. Boho is a trend toward integrating a lot of natural materials into your decor; things like baskets, earthy rugs, and eclectic patterns, textures, and color. It is a carefree style that defies the typical structure in decor.

Take it a step further and you land at Granny-Chic. The “hated” word “wallpaper” from the last ten years is making a huge comeback. Accent walls of paint are now being replaced with textured floral wallpaper that reminds us of our granny’s home in the 70’s. Even the earthy yellow-golds, greens, browns are making a come-back. 
Looking at all the major players who choose “color of the year” the majority of them are using some shade of green.They say its due to Covid and people wanting a closer feel with nature.  There is however, a rebel in the group though who has selected Veri Peri, which is a deep periwinkle.

I don’t know what your thoughts are, but maybe if you have an older home and haven’t updated in 40 years – you’re in luck! Ok, I’m kidding, though some of the younger generations are really thinking what we used to call vintage, now deeming granny chic, is cool. 

Our Great Lakes Bay market tends to run quite behind what is happening in the bigger cities. I think in this case, I’m somewhat thankful of that. I’m happy to leave the greens/golds/browns and floral patterns of gram’s clothing and curtains in my fond childhood memories. 

There is another style that is also trending that seems to be quite the opposite of granny chic and it is pretty industrial. It focuses on also using a lot of natural sources, but more along the lines of wood and metal. I am seeing more of this in our area than I am the granny chic; at least when it comes to new construction home decor. There are still many many homes I go into daily that would qualify as granny chic, that have been there since they were first popular 40-50 years ago. I don’t recommend being in style because you’ve not done an update in 50 years. 🙂 

On that note; If you’re not looking to sell in the near future, I’m a big believer in making your home a sanctuary, decorated to your tastes and what makes you feel safe and joyful. That’s something different for everyone. I don’t change up my style based on what is trending, but what makes me happy. That seems to be a trend in itself – there’s a lot of anything goes right now.

Have a great 2022!! Wishing you the very best upcoming year. May you recognize your blessings amidst the trials, and find time to focus on yourself and family, while also reaching out to those in need around you. And of course, if you’re looking to buy or sell #ThinkTeamMatchmaker

Photo credit laurelberninteriors.com

Posted in Buying Homes, community, Finding a great Realtor, goal setting, Home Buying Tips, home ownership, Home Selling Tips, Planning, real estate, Real Estate Bay Midland Saginaw

Let’s Talk About Conventional Loans

Posted on by Your Real Estate Matchmaker

👉 The most flexible of mortgages – the conventional mortgage can be used for all types of homes; single family, vacation, rentals, & multi-family residences and there’s no maximum loan limit. They are unique because they are not guaranteed nor insured by the Federal Government, although most lenders/mortgage brokers will conform to the Fannie Mae/Freddie Mac guidelines so that they can later sell their loans to them, which frees up their funds to take on more loans. Conventional mortgages typically have lower closing costs than other loan types but do require a higher credit score from the borrower.

👉 Terms and Interest rates will vary depending on your DTI (Debt to Income) your credit score and what lender you choose. But with a conventional mortgage, you may qualify for a 3% -20% down payment and choose a 30, 20, 15, 0r 10 year term to repay your loan. Most lenders require at least a 620 credit score but you will find that as your credit score goes up, your interest rate will come down. Your DTI will also help determine how much you will get approved for.

👉 If you purchase a home using a conventional loan and your down payment is less than 20%, keep in mind you’ll be paying for Mortgage Protection Insurance (MPI) until your equity is above that 20% mark.If you’re interested in hearing more about a conventional mortgage or any other type that you may qualify for, give me a call or send me a DM and I can recommend some great local loan officers and mortgage brokers that can find the best fit for your situation.

CONVENTIONAL IN A NUTSHELL
*Lower Consumer Costs
*Most flexible terms
*not government backed
*No maximum Loan Limit
*No MPI when over 20% equity
*Usable on all types of properties
*Requires Higher Credit Score
*May be more difficult to obtain than FHA/RD
*Closes More Quickly

Getting a Pre-approval is an absolute must in this busy real estate market. If you wish to get moving, let’s find a loan officer to start pre-approving!

Posted in community, Finding a great Realtor, goal setting, Midland Saginaw Real Estate, Motivation, Planning, real estate, Realtor, Succeed

Overcoming Adversity

Posted on by Your Real Estate Matchmaker

Come on, Rise to the Challenge, Persistence Pays, Stick with It, are all a few common phrases that we hear when people talk about facing adversity.  Can a couple words actually help?  What is it that really allows us to overcome adversity and why do some people do so well and others often seem mired down continuously?

 

I don’t think a phrase in and of itself is going to help us much when we are faced with adversity. And let’s be honest – we all face it and all too often whether it is in the workforce or our home life.  As a Realtor, I face it often.  You may think that sounds crazy, as many people’s perceptions and expectations of a Realtor are very low.  Granted there will always be agents who live up to that low expectation, just like in any field. However, as a professional with two degrees under her belt and more importantly, decades of experience I can tell you the real estate world is full of adversity of varying degrees.

 

In real estate I face a couple different types. The first is pretty plain and simple – how do I get enough business to survive in this dog-eat-dog arena?  The second is the type of adversity I face with clients.  Sometimes this is personal, but I’m focusing more on the struggles that we face in trying to close a deal.  A couple of recent examples have been, a buyer whose employer changed their manner of payment in the middle of a deal.  The buyer being a caretaker had always received one bi-weekly check for taking care of multiple people. Week 3 of the deal, the employer decides to pay by the patient and the buyer now receives 7 different checks.  This throws the lender into a fit. How can they verify the income? We’re involved with a big bank, supposed to close this next week.  Seller wants to walk because we should already have the clear to close and now we need to postpone. It all sounds ridiculous to us but this is out of our control.  We can’t do the bank’s work for them.  What can I do?  Well, yes I can rise to the challenge and be persistent.  What does this mean specifically?  That’s where overcoming adversity becomes possible – find out the specifics.  In this case I needed to speak with the lender daily.  I needed to speak to the seller’s agent daily to quiet their fears, to show them the income hadn’t changed, to talk to them about how putting it back on the market meant starting over and possibly a worse deal, etc. I needed to keep the spirits of my buyer up so they didn’t get frustrated over what seemed such stupidity and let them walk away.  It took an extra 3 weeks, but my buyer is now happily in his new home and the sellers walked away with their check.

 

How about when as a listing agent you recommend strongly that the seller make some type of improvement that you know (from years of experience) it will not only make their home sell faster and for a higher amount – and they choose not to follow your direction?  They may even think they know more about real estate than you do! What can we do?  Stay the Course of course.  Find those facts, show them homes that sell, dig up examples, find out how your seller’s brain works – will they respond to statistics? Or will they be more affected by photos of before and after? Approaching it one step at a time until you find out what works.

 

Your adversity is different than mine. We all have our own struggles.  Though the cliché phrases aren’t going to do anything, if we think about how those phrases came about – we are on the right track to overcoming.  What does it actually entail to “Stay the Course” or “Rise to the Challenge”? Figure out what the end result needs to be. Then step by step work toward that result.  Life is not full of many one way streets.  We may have to re-route or recalculate a few times along the way.  But if you have a goal/end result that is the most important thing.  Once we know where we want to be, we will figure out a way to get there.  It may not all be clear at the beginning.  But, we’re way smarter than we usually give ourselves credit for.  Decide what you want and then go. And as another familiar saying says, Just Do It!

Posted in Best Time to Sell, Home Selling Tips, real estate, Selling Homes, Selling Your Home

Top Tips to Sell Your Home Faster

Posted on by Your Real Estate Matchmaker

We’ve all seen it – on our drive in to work a For Sale sign pops up in the lawn of a home and gee, months and months go by and it is still there. After several months you may even start to wonder, “What’s wrong with that house?” There must be something wrong, right? Not necessarily. Most likely either seller or their agent made a decision up front that cost them a quick sale.  Granted, there are areas and price brackets in every market that move much slower than others. You can’t change that – but you may be able to change whether or not it is the one that does sell.

Aside from hiring an agent with experience and a great marketing plan there are several other factors that will make your home stand out against the competition.

  1. Price – you need to price it to move.  Gone is the day where a home lists way over value and people still flock to it with negotiating on their minds.  Buyers have too much knowledge at their fingertips these days; they know values. Price it at market value and negotiate firm. Listen to your agent and look at the comparables. Unfortunately what you wish your value to be isn’t usually what reality is. Pricing slightly below market value is shown to bring a stampede of buyers in the door.  This can result in a bidding war which is good news.
  2. First Impression – there’s only 1! You know the old saying that there’s never a 2nd chance to make a good 1st impression. It doesn’t just apply to people, but your home as well.  What are the best ways to make a good impression?
    1. Create curb appeal.  Landscaping is shown to have the highest ROI there is in real estate. Make your entry awesome. Is your doorframe cracked or peeling? Are there cobwebs? Bushes not trimmed? Get it done! Whether you hire a professional or make it a DIY project, it is super important to a good 1st impression.
    2. Get Rid of Your Junk. Walk around your home with your cell and snap pics – look at them and what do you notice? If you see your “stuff” instead of the features of your home; get a storage unit and get rid of it. If you don’t need it on a daily basis and it isn’t enhancing your home just pack it up. A storage unit is a super cheap way to enhance your home’s value and 1st impression.
    3. Smell Stinks! Not much worse than opening a front door and being greeted by dog or dirty laundry smell. For that matter, the same goes for potpourri.  Take the time to eliminate the source of your odors. Be sure any automatic air fresheners are a natural clean scent. Don’t use something strong that makes the buyer take notice.
  3. Update Wisely.  Don’t go spending a huge amount on updating your home and think you’re going to get it all back. Ask your agent. Do your research but pay attention to what market you’re researching.  Just because you find an article that says spending $30K in kitchen updates is a great idea – it doesn’t mean it applies to Mid-Michigan! Kitchen and baths, aside from entrances are the best places to see a good ROI. A good can of neutral paint and new hardware on your cabinetry can do a whole lot to update your look.  Have an old nasty appliance? Replace it with a new stainless one.  Doesn’t mean you have to replace all – people tend to see one and forget the others.

There are a lot of variables in making your home sell.  There’s no one perfect solution.  Your best bet is to ask your agent what their ideas would be (assuming you have a good agent). You might also want to invite some friends over and have them look at the house with fresh eyes and tell you what they think.  It isn’t a time to be defensive, but open to suggestions.  When we get a home ready for the market the idea is to make it look in such a way to be appealing to the highest number of people possible.  Sometimes that means making room for people to have their own ideas and not be pre-occupied with all of your personal effects /decor.  Neutral with a touch of flair attracts the widest range of buyers and that is what we’re looking for.

Time to list? Feel free to call/text/email me any time.  989-475-2958 mdvgilbert@gmail.com I look forward to hearing from you.

Posted in Buying Homes, Credit Score, Home Buyers, home ownership, Midland Saginaw Real Estate, real estate, Real Estate Bay Midland Saginaw, Uncategorized

Don’t Get Sidelined by Your Credit!

Posted on by Your Real Estate Matchmaker

You can’t have good credit unless you have debt. Sound like an oxymoron? It always has to me, but nevertheless it is a fact.  As a Realtor, I am often in the position of raising awareness about repairing credit and even the importance of how the system works and what your current score is.

I can’t tell you how many times I’ve had people who have a 20% down payment on hand (in their mattress) but have no credit and are shocked when they can’t get a mortgage. Then there are those who have 15 different credit cards, bankruptcies,  or repossessions, who are also amazed when they have their credit pulled and find it is rated poorly and they’re unable to secure a mortgage.

You should always know your credit score. Not only does it give you a sense of accomplishment when you see it go higher, but it will also alert you if something is happening that you’re not aware of, such as identity theft or erroneous reporting.  There are various companies online that will allow you to check your score and some credit card companies also offer it.

Just be sure you’re looking at your FICO score; as this is what the majority of lenders/creditors will be looking at.  FICO stands for Fair Isaac Corporation which created the system back in 1960.  In order to even have a FICO score, you have to have an account of some type, whether revolving (credit card)  or a set monthly installment (car loan) and it needs to have been reported to the credit bureau for at least six months.

People are often under the impression that paying off a card is a good way to raise your credit score – – Nope! Or that they should close an account to raise it – – No Sir! Paying down a credit card and maintaining it to around a 30% balance will raise your score more than paying it off. Also, the longer an account is open, the longer your history is and that is also advantageous.

It does not have to be a mystery. Keep in mind these simple steps:

  1. Paying your credit accounts on time has the more significant impact on your credit score.
  2. Don’t use more than 30% of your available credit on any one card – if you do, be sure to pay it down to that 30% at the end of that billing month.
  3. Don’t close out all your old accounts. Having an account open for a long period of time scores you credit score benefits.
  4. Use more than one type of credit, combining installment and revolving. Be sure you don’t get carried away. If you can’t pay it off in 30 days (revolving) you probably shouldn’t purchase it.

Most lenders require a credit score of 640 in order to purchase a home; though there are a few who have programs for scores less than that. It is pretty amazing though, because at 640 you’re only in the “Poor” rating for credit.  If you want to secure a lower interest rate on a home, increasing your credit score is a great way to do that.

A simple way to look at it is this: Bad = 550 & below/ Poor 550-649/ Fair 650-699/ Good 700-749/Excellent 750+

If you have questions about mortgages and/or credit scores, please feel free to contact me. I work with some great lenders who are willing to help you raise that credit score and create a plan specifically for you. Purchasing a house is a great investment. Don’t get sidelined because of a surprise or non-existent credit score.

 

Posted in bay city, Bay City Michigan, Buying Homes, community, Finding a great Realtor, goal setting, Home Buyers, Home Selling Tips, midland, Midland Michigan, Midland Saginaw Real Estate, real estate, Real Estate Bay Midland Saginaw, Real Estate Market Statistics, Realtor, saginaw, Selling Homes, Selling Your Home, Tips for selling your home faster, Uncategorized

Less Sales – Higher Prices for Saginaw County

Posted on by Your Real Estate Matchmaker

Based on number of transactions, March 2017 fell short in Saginaw County home sales when compared to a very robust March of last year, and even behind the 5 year March average. Don’t despair! If you are a buyer or seller there is still good news.

Despite the lower number of sales, Saginaw’s 12 month average sales price ending in March 2017 was at $104,314. This is up 3.33% over last year at the same time. I remember back in 2008 when the average home sale was at a whopping $64,143 – so we’ve made a lot of progress getting back to the “Pre-crash” price in 2005 and the average was just over $107,000.

Lots of numbers. What does it mean? Well, we can’t really formulate a trend from the low March sales. I’ll be keeping an eye on it to see if it was a statistical anomaly for the month. A slow March in essence is really a slowdown of activity in January. The plus side is the increase in home values for our various communities. That’s good news for sellers.  This in turn, realistically is also good for buyers.  Why? Well, all year we’ve seen low inventory of good homes.  As word spreads that home prices are continuing to rise, more sellers are likely to get their homes on the market. This gives a buyer more choices, which also gives them more leverage when making an offer.

The March trend was different for Bay and Midland Counties, despite how closely tied our Mid-Michigan communities are.  Bay County saw 25% more transactions this March over last year which is great; however the average sales price rose less than 1%.  Midland also saw about a 20% increase in number of transactions over last March plus had a 6.13% increase in values.

Quarterly reports should be out soon and that will perhaps give a little more insight as to whether March was a trend or an anomaly. Always good to keep in touch with the heartbeat of your community.  If you would like to know more specific information for your area, please feel free to call or email me. If you’d like to receive a free home market analysis – I’d love to hear from you.

~Build a better world by building a better you

  • Monique Gilbert – Your Real Estate Matchmaker – Connecting Buyers & Sellers for a Perfect Match
Posted in bay city, Bay City Michigan, Buying Homes, community, Finding a great Realtor, Home Buyers, midland, Midland Michigan, Midland Saginaw Real Estate, real estate, Real Estate Bay Midland Saginaw, Realtor, saginaw, Uncategorized

Is Real Estate Investing For You?

Posted on by Your Real Estate Matchmaker

Recently Saginaw was deemed the 2nd Best Housing Market in the United States. I know that seems to be contrary to what most people think when they ponder the state of Saginaw, with its loss of population and manufacturing jobs over the past decade.  There were a lot of factors that went into the study which gave us this infamous title. Though many of the factors are good things for us; higher number of residential sales in 2016 than any other in 10 years, average sales price climbing, etc – there’s more to it than that; and it and of itself could be a series of articles. But my point today is with the current changes in our market, could real estate investing be a good avenue for you?

If you are active in the stock market you are well aware of the volatility over the past years. If you’re toward the end of your working age, or recently retired – you may have had to make drastic changes to your retirement plans due to extensive losses.  What do you consider a good Return On Investment? (ROI) Many in the stock market are averaging 5-8%. You might be thrilled at a higher amount.

What if you purchased a home for $25,000 and put in $3,000 of repairs and rented it for $650-$800/month? Taking out taxes and insurance, even on a $650/month home, your income would be about $5,500. That in one year would be an APR ROI of almost 20%. Granted, you will occasionally need to do maintenance, perhaps pay a fee to a property management company. I would always suggest that for the first year, all of your rental income be kept in a designated savings account for future maintenance issues, as well as a good 10-15% each year.

With this income of 19.6%ROI annually, you would have a steady income and when the day came you wanted to sell, history tells us that you should get at least 100% of your original investment back as well. Why isn’t everyone doing this? Well, a lot of people are. I don’t have any stats about the percent of homes being purchased in Saginaw by out of area investors but I know it is much higher than any other time in the past ten years.

Let me be very clear that being a landlord, even if you hire a property management company, is not risk free.  You need to do a great job in selecting tenants (or the PM co. does) You need to be sure you’re setting those maintenance funds aside. There will be tenants who do crazy things and cost you money.

You may decide the risk for damages would be less if you were dealing with more expensive rentals. For example I recently had a client who purchased a home for $60,000 in the Township and then rented it for $1300/month.  That’s an awesome ROI, but a higher initial investment. You have to do what you think is best. And that might be nothing at all! But I believe it bears thinking about.

If you think investing might be worth looking into, feel free to call or email me. We have a great property management division here at Berkshire Hathaway too. If you want some honest advice I would be happy to sit down with you.

 

Posted in bay city, Bay City Michigan, Best Time to Sell, Buying Homes, community, Finding a great Realtor, Home Buyers, midland, Midland Michigan, Midland Saginaw Real Estate, real estate, Real Estate Bay Midland Saginaw, Realtor, saginaw, Selling Homes

…Giving Your Character That Ravishing Red…

Posted on by Your Real Estate Matchmaker

Dear Friends:

Fall has been beautiful thus far and soon the festivities of Thanksgiving shall begin. We shall see gourds, pumpkins, shocks of corn, cornucopias, and turkeys galore. Though I personally am not much looking forward to the wintry mix that is sure to soon follow; Thanksgiving is definitely my favorite day of the year.

It is a time I am able to take just a very short break and surround myself with family, my extended family. All five of my siblings, their children, and grandchildren gather at my parents for a day or two of full tabletops, glorious wafting smells arising from the oven, mixed with laughter of children and adults alike. We have pillow fights, card games, leaf wars, football, and more.  I am blessed to have a family who loves to share these types of days together. I am blessed also that we have a wonderful home to gather in and enough in the bank to put whatever we’d like in the oven and on that table.

I encourage you, even if you aren’t a Thanksgiving Day “celebrator”, to take this opportunity to inventory those things in which you can be thankful.  As we watch the leaves turn from their bright greens to ravishing reds, glorious golds, and soft yellows we can turn our thoughts to the changes in our own lives from the past year. Maybe it wasn’t an easy year – those struggles leaving you stronger in the end, giving your character that ravishing red. Maybe there were wonderful celebrations providing you with glorious golden memories, and those little moments to cherish like the soft yellow leaves twirling down in the fall winds.  Whatever has transpired this year; we all have things to be thankful for.

“Gratitude can transform common days into thanksgivings, turn routine jobs into joy, & change ordinary opportunities into blessings” – William Arthur Ward

Blessings to you and yours,

Monique Gilbert

Posted in Best Time to Sell, Buying Homes, community, Home Buyers, home ownership, Home Selling Tips, real estate, Real Estate Market Statistics, Realtor, saginaw, Selling Homes, Selling Your Home, Tips for selling your home faster

It Is NOT Too Late!

Posted on by Your Real Estate Matchmaker

Spring, spring! It’s gotta be Spring or it’s too late! That’s what sellers often think of in regard to home sales. Reality says, it isn’t so. Sure, the highest peak months might be May and June, but looking at the graphs you will most likely be surprised that the only two really low months for closed sales are January and February.

Sales in Saginaw & Midland Counties are up in general this year (yay!) Looking at the graphic below; you can see two things. First you’ll see the difference between the 5 year average and 2016.  Most importantly if you’re thinking of selling, you will see there is not a huge drop-off. Homes are being sold EVERY month.

There is always a market for good inventory.  I would love to give you a free market analysis on your home if you’re thinking of selling or be your buyer agent for those of you looking for that new home of your dreams. Call me today! 989-475-2958!

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