Kathy Jackson

Being pre-approved is like being pregnant-either you are or you aren't! I've had quite a few calls lately from potential buyers in Henderson, KY.  As we talk, I always ask a few questions so I can determine where they are in their home search. 

More and more in recent weeks I've had people call and when asked if they are pre-approved say "well, sort of".  What does that mean? Basically, they have talked to a lender, but there are a few credit issues and are waiting for the lender to re-score them.  In the meantime, they'd like to look at a few homes and possibly make an offer on one.  Okay, so how are we going to do that?  In our market, most seller's and all foreclosures are requiring a pre-approval letter.  When I explain this to them, the immediate response is, "well, I'm kinda pre-approved!"  Actually no, you aren't.  At this point you are not approved and you do not qualify for a loan. PERIOD. THE END.  Until the lender is able to pre-approve you and give you an estimate of your closing costs, how much they are willing to loan you, etc. you are not pre-approved! 

There are lenders that are able to re-score someone who may be close to minimum guidelines, but until a potential buyer follows the steps given and their score improves to surpass minimum guideline, you are not pre-approved! 

If you need a lender, I'd be happy to point you in the direction of several excellent lenders I have worked with in the past.  If you need help in meeting the minimum standards for a loan, they are more than willing to give you guidance. And when you are ready, willing, and able to purchase a home, I'd be more than happy to help you.

Excellent reminder that we all need to keep an eye on our accounts! Change your passwords often and try to not use the common things like date of birth, pets or kids names, spouse names, anniversary dates etc. We've got to stay vigilant virtually and in the "real" world!

I may ruffle a few feathers with the questions below, but I don't like seeing sellers pay premium prices for discounted services.

I see it every week, after week, after week.  And, it continues to surprise and dismay me!  Sellers are getting ripped off in my market......and they keep listing with the same agents! 

There are tons tools available today such as digital cameras, video, multitudes of free listing sites, blogging sites, social media, Twitter and many agents are continuing to do the MINIMUM for their sellers.  They take a few pictures, no virtual tour let alone a *gasp* video.

Now, I will say there are a few agents, as evidenced by the table below, that are putting the maximum number of photos in the MLS and doing at least a virtual tour.  But, sadly, the vast majority or not. 

Why are seller's settling for substandard service?

If you are thinking of hiring a REALTOR to market your property, here's a few qustions to ask:

1. How many websites do you utilize to market properties?  How many are in the top 10 of utilized real estate websites?

2. Do you have your own website?  What is the web Address?  How many hits per month do you receive?

3.  How many pictures will they post on the MLS? Is this the maximum number? (FYI, for the Henderson Audubon Board of REALTORS, the maximum is 9 pictures)  If no, why not?

4. Will your listing have a Virtual Tour at minimum and/or a Video of the property?

5.  Do you have an active blog?  What is the web address?

6. If they are unable or unwilling to do all of the above in addition to any traditional marketing, are they willing to discount their fee since they are giving discounted service?

The bottom line is this: Why settle for less than you and your home deserve?  If you are looking for a REALTOR that uses all the tools available give me a call or click today!

Just a little fun in the sun!  My husband works for a company called Hutson's Ag, a John Deere dealership in Morganfield, KY.  Hutson's is the reason my husband and I ended up in Kentucky (he actually blames me, but that's beside the point!)  Well, he's done a great job since starting at Hutson's a couple of years ago.  John Deere corporate does some really nice reward trips for the top dealers in certain areas.  This year's trip for the top 50 dealerships was to Cabo, Mexico.  Curt and I along with another couple were the lucky recipients of this trip.  Curt's never been out of the country and I've never been to Cabo so we were both pretty excited.  Not to mention all the snow and cold we've been having, we were ready for a nice vacation!

We stayed at the Fiesta Americana resort between San Jose Cabo and Cabo San Lucas.  Besides the beauty of the resort, the ocean and the surrounding mountains, we marveled at the outstanding customer service we received.  Every employee was smiling, happy to help, and went above and beyond in our minds!  For example, we caught some Mahi Mahi and wanted it cooked at a local restaurant that night.  The hotel staff made the arrangements and sent the fish to the restaurant without us having to make more than a simple inquiry!  When we showed up at our pick up spot, they gave us the name of the waiter and away we went!  At the restaurant, Victor, was more than happy to talk with us about preparation, and the owners stopped by several times to check on our service.  Back at the hotel, several staff members stopped us to ask how our fish was and if we enjoyed our freshly caught meal!  We were sorta-famous as the fish people by the end of our stay!  This was the most amazing trip I've ever taken: partly because of the beautiful surroundings and largely because of the amazing service.

If you'd like to feel the warmth, check out my photo album on Facebook!

Kentucky HB 78 - Let's just REALLY screw up the Kentucky Real Estate Market!

Seriously, I am really ticked off about this bill.  In a nutshell, this bill would allow the state to TAX REAL ESTATE SERVICES.  It expands the sales and use tax base to include certain services including those related to a real estate transaction and the rental of commercial real estate.  So, what types of services could/would they tax?  Well, think of all of the services related to a real estate transaction: appraisals, title work, home inspections, title insurance, transfer fees, commissions, etc. How much? Well, my interpretation is that it will be the same as any other sales tax - 6%. Now, the only good thing about his bill is that the current tax of 6% would be reduced to 5.5%.

So, who do you think is going to be paying all these additional taxes? Well, in the end, the consumer. We are already seeing appraisal fees that have gone from $300-ish to over $500. Where will it end up if this Bill passes?  What about the cost of inspections? Typically they are $250 - $300 in this area; will these fees also go up?

I understand that the supposed purpose of the bill is to generate more income for the state, but, in the long run I truly believe they will be cutting their nose off to spite their face.  This bill will not only cost buyers more money, but also all of the hardworking folks related to and in the real estate industry.

So, what can we do?  Well, a start is to contact your representatives and protest - LOUDLY! I plan to post information on TWITTER, FACEBOOK, and, of course, MY BLOG.

Please, don't sleep on this one folks, then turn around and whine about it when it's too late!!

UPDATE - Just an FYI, this tax is not just geared toward real estate services.  This will also affect any services you use: heating & air conditioning, plumbing, accountant, hair dresser/barber, and DAY CARE!!

Great information to have!