Mark & Jacki Wheat Real Estate

STOP scrolling if you are thinking about buying or selling!

Interest rates are rising, and yes, they are higher than they were a few months ago, however, my advice to you: block out the noise! Whatever your reason for buying or selling, what really matters is putting your money into a place where you will be living YOUR life. The best time to buy or sell is when YOU ARE READY.

Too often are we listening to the thoughts and opinions of others that we forget what's really important to us — your quality of life is key ... and your home is one of the most influential parts of your life and your happiness.

If you're experiencing any of these, then it might be time to really think about how you can take advantage of the current opportunities in the market:

• Many "multi-purpose" rooms, or clutter
• In need of another space for entertaining / kids taking over the house
• Kids or pets needs more activity / yard
• Unhappy with your current neighborhood
• Cramped / shared bathrooms
• Need a designated home office, gym, etc.

It's never too late and it's never too soon to consider taking action on improving your quality of life, which then increases your productivity at work and overall daily joy.

No matter the time of year, I’m here to help you realize your real estate goals. Remember, there’s never a “bad” time to buy or sell — so long as you know in your mind and heart, "It’s time!" So let's grab a coffee and chat about what your options are in today's market.

MOTIVATIONAL MONDAY ✨

If things were always easy, we'd always get bored! Life is a journey and an adventure ... embrace the challenging moments because they usually come with lessons and opportunities.

Just remember: "impossible" could easily be perceived as "I'M POSSIBLE." If we change the way we look at things, we could overcome difficulties quicker and easier (think of possibilities, rather than limitations).

The next time you encounter a moment of struggle, doubt, or failure, give yourself some grace and a reminder to embrace your willingness to succeed — because you are capable, strong, and resourceful. Perhaps this moment is showing you a new area in which you can blossom. Don't "tap out" too soon before you see the growth you deserve.

You might think that with such high buyer demand it is an easy time to sell your home and anyone can do it, right?

WRONG. Making a hasty, uninformed decision can cost you thousands of dollars in earnings — don't be fooled by a "slick salesperson". It is important that you do your homework and get the information you need to feel confident in who represents your largest asset.

Some things to consider:

• Where does this agent live?
• When did they last buy / sell?
• What are their reviews like?
• Any recent success stories?
• What is their marketing strategy?
• Can they share marketing examples?
• What support do they have?

Something not to consider — how low is their commission? RED FLAG 🚩 ... you always get what you pay for, most of the time. If their sole focus is on how much commission you can save, then I want to ask you — how confident are you in their negotiating skills and how much are they willing to give away of your equity?

Ask a friend for a recommendation or two, and take the time to do your research..

For some reason, there has always been this focus on the "interest rate" — why aren't we focused more on the "monthly payment" and "affordability" than one small factor in the equation?

There are 2 (ok, 3) things every buyer must understand about interest rates:

1. They are always changing.
2. You are NOT stuck with the same rate forever.
3. You can refinance & cash out your equity later at a different rate and term.

Now, if you really want to get the best interest rate, it's time to take a look at your credit and explore different rate programs with a lender. The higher your credit score, the lower your interest rate ... but did you know rates vary by loan product? Consider looking at the rate of a 15-year or 7-year ARM (adjustable rate mortgage), compared to a 30-year fixed Conventional / FHA.

Reach out if you'd like to talk more about ways you can structure your mortgage and how to get yourself in the best position with your investment — I'm always happy to connect you with my trusted lenders and financial advisors!

It's been a very competitive market (to say the least), over the past 2 years, and a HOT seller's market, so if your home isn't selling, it is likely due to one of the following factors:

▪️ The Price is NOT Right.
One main reason a house is on the market longer is that it is priced "outside of the market." If you priced your home on the high-end of market value, you are missing out on a majority of serious buyers in your actual price range. Pricing your home competitively will attract more buyers and drive up demand. The rule of thumb is that if you are getting showings (but no offers), you are 5% overpriced ... if you are not getting showings or offers, you are likely 10% overpriced. Buyers in today's market are savvy, with a lot of ways to do research; they know how much a home is worth by looking at home valuation sites with map tools of nearby sales — and they won't even consider a home that they believe is overpriced.

▪️ You Don't Look Your Best Online.
Your first showing is always online. If you don’t have professional photos/video, or your home wasn't prepared well for the market (think deep cleaning, decluttering, staging), you’re not creating interest in your home — or enough that will get the buyers off their couch and into your home!

▪️ Condition.
Even in a competitive seller's market, the more you can do to make your home look appealing to a buyer, the better your chances for a quick sale at the best price. There are a few things you can do before you list that will make a large impact in the eyes of a buyer. This includes a fresh coat of paint, a deep clean, and new flooring.

▪️ Market Performance / Interest Rates.
Yes, we are seeing a slight cooling of the market with higher days on market — so higher interest rates could be a factor, but we will see if supply can keep up with the high demand.

Send me a message if you want to chat about how you can position yourself and your home to sell quickly and for top dollar!

MOTIVATIONAL MONDAY ✨

Every day, in every moment, we encounter "choice" — we have a choice to take action on a goal or a project, or we have the choice to do something else.

"How important is this to me?" Really, what would it be like once you achieve your goal? With sustained effort, that's how the "future" is created —the smallest of daily activities move us toward (or away from) our best future.

Habit stacking is a great tool for any of us when we aspire toward something important to us. Once we get clear on what we want, then we develop a strategy... fulfillment comes through daily, repetitive action. Create an outline and start implementing a routine and build on the daily wins.

Does your head spin when you think “amortization schedule” and the date of your “final mortgage payment?”

Did you know that you can shorten your mortgage term by 8 YEARS by paying an extra mortgage payment every year, or just $100 more per month of the principle? This could help you remove Mortgage Insurance (PMI) even faster, with increased equity.

Just be sure to ask if your mortgage lender charges any pre-payment penalties: they were counting on you to pay interest for a full 15-30 years!

Selling your home with pets can be challenging ... not only because it can be stressful removing pets for every showing, but also because buyers want to envision themselves living in your home, and that means hiding any evidence that animals live there. One whiff of a dirty litter box or smelly carpets, or view of a mess in the yard, can easily ruin a showing and best outcome.

While you love your furry family member, sadly, not every buyer will.

When preparing your home to sell, it is important to remove evidence of any pets in your home. This includes deodorizing, deep cleaning, and repairing any damage: scratched door frames or flooring, and carpet stains. When eliminating any odors, make sure you are not just masking them, as that can turn potential buyers off even more — definitely do a deep clean before showings!

With so many families owning pets since Covid, it can be hard to imagine anyone disliking yours, but at the end of the day, you want to ensure nothing gets in the way of selling your home. The time you invest now in preparing your home will pay off in a successful sale.

Whether or not you are planning to sell soon (or in 20 years), CALL ME FIRST! Not only can I recommend trusted contractors, but I can also tell you what renovations will actually add value to your home ... and what will not. I can help by telling you where to focus resources, and give you insight into what types of upgrades will help (or hurt) your value when you decide to sell in the future.

Lastly, I study the market and look at homes every day, so I know what selections and updates look best, and can help with the daunting task of picking out tile, flooring, paint colors, and more. If you're thinking about a serious home project or renovation — even a refresh — don't hesitate to reach out, I would be happy to help!

MOTIVATIONAL MONDAY ✨

We know this to be true — we are influenced by those who are around us ... but what about the connection we have with ourselves?

"What you think you become" and "be careful how you speak about yourself" are phrases we may have heard before, and they're so true. Why not speak positivity into your life and think about possibility rather than a life of status quo?

We are all capable, and we have the tools and resources to help us acquire what we desire. It's all in the confidence we feed ourselves (conviction), and the encouragement we sometimes give to others (belief). What are we willing to give ourselves that we so willingly give away?

Let's give ourselves some grace and the courage we need to step into that bigger life. Throughout the day, think about the smallest of reasons to be grateful so you can put it all into perspective.

If you could only pick ONE of these outdoor additions, which would it be?

Is there something you would add that isn't on the list? Let me know in the comments!

... this could not be further from the truth! 🛑

When looking to buy a home, many people have considerations such as commute time, quick access to shopping and dining, or even a preferred neighborhood "feel" — local school districts should also be on that list, even if you don’t have children.

A good school district can help increase the value of your home over time, as it is usually a top priority for many home buyers.

If you're thinking about making a move, I can set up a search for you within any particular school district so that you don't have to comb through listings on the (other) sites. Send me a message, I would love to help!

One thing I always tell my buyers is to CALL ME when they see a home for sale, whether it is through a sign in the yard, or online! ✋

While you may see another agent's name on the sign, that agent is not the only one who can show you the home! In fact, it’s more advantageous NOT to use the listing agent ... doesn't the listing agent want the best deal for their seller?

As a buyer, you need a dedicated advocate for yourself, not one who is already being paid by and representing the seller.

As a buyer's agent, I can show you ANY homes you would like to see. Most transactions have two agents involved — the listing agent who markets the home and represents the seller, and the buyer's agent who represents the buyer. Generally speaking, it is best to buy a home with a buyer's agent on your side. A good buyer’s agent will provide an invaluable amount of advice and support in what can end up being a very stressful transaction.

The home search can involve many twists and turns, so having a loyal adviser along the way will help you make an informed decision on what is likely the largest purchase of your life!

See a home you like and want to schedule a showing? Send me a message and let’s go check it out!

✔️ REMINDER: your monthly homeowner to-do list!

With so many items on your monthly homeowner checklist, it can be easy to forget about cleaning your bathroom exhaust fan — really, how often do we look at it? However, it is essential to keep it clean because it removes moisture and prevents mold and mildew growth, and keeping it clean will ensure that it functions correctly (saving you money on your monthly electricity bill!). August is also a great time to clean out your closet and donate any old or unwanted clothes, as most people are shopping for back-to-school outfits.

Save this post for later and pick 1 or 2 off the list every weekend! What are you tackling first?

2022 started strong with high demand and low interest rates, however, the significant increase in interest rates has slowed the market slightly, although inventory is still very low.

Most notable? The uptick we are starting to see every week in "back on the market" homes and price decreases.

These two factors are the best indicators that the market is adjusting, and while prices are not going DOWN, they are not escalating at the insane rate they have been over the past two years.

This is great news for buyers, as we are seeing a slight shift. Thinking of selling? You haven't missed the boat... yet. It is STILL a great time to sell, however you may want to take pricing advice from your agent more seriously, and any other professional advice to help get your home ready so that you can get top dollar.

If you have questions about what’s happening in your neighborhood, give me a call. I'd be happy to answer any questions you have or provide a free market analysis – your home could be worth more than you think!

All signs point to interest rates increasing even further in 2022, but there are still ways you can keep your monthly payment comfortable. We went over Adjustable Rate Mortgages, but did you know that you can save quite a bit of money over the life of the loan by "buying down" your interest rate?

Typically, you’ll find a 0.25% rate reduction in exchange for a point, which is often 1% of the home’s purchase price. Before you choose this option though, you’ll want to think about how long you will hold the property, along with expected appreciation.

Whats the true cost of a buydown?
Breakeven point = (cost of points) / (monthly savings)

For example, buying down a 5% rate to 4% on a $400k mortgage — a lender may charge 4 points for 1% ($16,000) with a monthly savings of $238. Using the formula above, it would take 67 payments (5 years + 7 months) to recoup the money. At the same time, would that same $16,000 perform better invested otherwise?

Keep in mind not all mortgages qualify for a buydown and you really want to think about your long-term plan.

Interest rates are increasing, which means there may very likely be a shift coming for sellers and a more "normal" housing market. Wondering how you can net the most money for your home when selling in any market. One thing I always recommend to my clients is staging.

Staging your home will make it stand out from others in your price range, and you won't waste a single opportunity to create a great impression. If you want to sell your home quickly and for the best possible price, staging is one of the easiest ways to make it happen.

The best part? Staging doesn’t have to be expensive or complicated! I've listed below a few non-negotiable staging homework items I give to all of my sellers:

✓ Declutter and depersonalize everything! Small objects don’t photo well so remove any knick-knacks and any personal items, refrigerator art, and personal items in the bathroom. When it comes to getting your home ready for the market, less is ALWAYS more.
✓ Deep clean the entire home top-to-bottom like you've never cleaned before.
✓ Focus on curb appeal. Fresh mulch and weeding, power washing, and a new front door mat.
✓ Add fluffy white towels to the bathrooms, remove bathmats, and add white comforters to all of the beds — this will make the rooms feel larger, and the bathrooms look inviting (and clean).
✓ Remove area rugs and curtains. Yes, curtains. This will allow more light in and direct the buyers' focus elsewhere.
✓ Eliminate pet presence (and smells) and get rid of air fresheners! The best scent a home can have is CLEAN.
✓ Focus on your kitchen & bathrooms. Kitchens and bathrooms sell houses, so make yours stand out by swapping out dated hardware and lighting, touching up cabinets, and making sure they are clean!

If you’re curious how you can get your home looking its best, send me a message, and let’s chat. I’d love to help you sell quickly and for top dollar!

ᴍᴏᴛɪᴠᴀᴛɪᴏɴᴀʟ ᴍᴏɴᴅᴀʏ ✨

Gratitude is a prerequisite to happiness.

Be grateful for where you are, and how far you've come — both your successes and challenges have brought you to who and where you are today.

Being mindful is a daily practice and with consistent focus around appreciation, you'll be amazed at how life continues to show up for you.

You've searched for and found the perfect place to call home congratulations! Few things are more exciting than becoming a homeowner, but it is also one of the largest financial investments you'll ever make, which is why it's important to start off on the right foot. Here are my go-to tips for those first few weeks in your new home that can save you time, money, and effort later down the road.

Get to know your neighbors.
Meeting your neighbors is one of the most important things you can do once you move in. After all, you never know when you'll need a good neighbor to grab the mail or water the plants when you're out of town.

Deep clean & paint first!
Theres nothing more inconvenient than having to paint a home while you're living in it. Schedule the movers a few days after closing occurs so that you have time to give your new home a deep clean and a fresh coat of paint.

Change the locks.
There's no telling how many people have a key to your home from former homeowners to babysitters, neighbors, pet sitters, etc. It can be quite a few. You can either hire a locksmith or buy and install new hardware. PRO TIP: install an electronic keypad on the door you usually enter, and never worry about losing your keys again!

What's one thing you wish you would have done before you moved into your first home? Let me know in the comments!

Every seller wants their home to sell quickly, and for top dollar, but it takes more than luck to make this happen. As you welcome potential buyers into your home, the goal is to leave a lasting impression, and you can do this by planning ahead and getting your home ready to sell. And yes, this usually involves a little more than just deep cleaning and decluttering your home.

Here are a few (easy) things that you can do to prepare your home for the market that can help you get top dollar:

1. Clean, declutter, repeat.
There is nothing worse than walking into a dirty home. Deep clean everything and declutter your home before you even have the listing photos taken. This is what I call "your first move". Go through everything and decide what you want to keep, trash, or donate, and rent a storage space if necessary.

2. Make minor repairs.
In a seller's market, you can sell a home in "lived-in" condition without much complaint, however, in normal markets repairs can make or break a sale. If you want to do one better, get a pre-listing home inspection, so that you can make any large repairs, and disclose the rest.

3. Upgrade your curb appeal.
Refresh your yard, add new mulch, and power wash anything that is needed. This is the buyers' first impression, and you want it to be a good one. According to a recent study, homes with better curb appeal sold for 7% more, on average.

4. Neutral paint
Most people have trouble seeing past a bad paint color, so if you have any bold or bright colors, consider painting those rooms. Neutral colors appeal to a wide range of tastes and preferences, & a fresh coat of paint can go a long way in making a home look clean and full of possibilities.

Before you spend any time or money on preparing your home for the market, reach out to me! I know what buyers want, and what upgrades will give you the highest return on investment and appeal to the most buyers.

ʟᴇᴛ'ꜱ ᴛᴀʟᴋ ᴀʙᴏᴜᴛ ʙᴜʏᴇʀ ᴄʟᴏꜱɪɴɢ ᴄᴏꜱᴛꜱ.

When purchasing a home, everyone knows you need a down payment, but many people don't realize that in addition to your down payment, more funds are needed to cover your closing costs. Closing costs are fees that can include title insurance, tax and utility reimbursements, transfer tax, conveyancing fees, and miscellaneous smaller fees for services like notaries and wire transfers. If you are getting a mortgage, your lender could also require funds to be held in escrow for taxes and insurance, and charge underwriting and application fees. This may all sound like real-estate slang, so let me break it down for you...

How much should you budget for closing costs? I typically tell my buyers to budget anywhere between 3-4% of the price of the home. Here is a quick breakdown of what you may need to factor into your total out-of-pocket when buying a home:

Appraisal fee: $400-500
Underwriting and application fees: $1000-$2000
Title insurance: 0.5-1% of the purchase price
Transfer tax: 1-2.5% of the loan (this is sometimes split between buyer and seller)
Mortgage insurance: 0.5-1.5% of the loan (if applicable)
Prepaids: typically a full year of your property taxes and homeowners insurance are required upfront)
Any HOA/condo fees or capital contributions

As home prices and interest rates continue to rise, it's more important than ever to make sure your plan includes budgeting for closing costs. Keep in mind that these fees vary depending on location, loan program, and lender.

If you're thinking about buying and wondering what your total out-of-pocket cost might be, send me a message I would be happy to put together an estimate for you!

ᴍᴏᴛɪᴠᴀᴛɪᴏɴᴀʟ ᴍᴏɴᴅᴀʏ ✨

People work with those they like and trust now more than ever, people are looking for connection and a sense of belonging. When you add true value and are able to clearly articulate your knowledge in an approachable and relatable way, that's the secret sauce to success ... and meaningful, impactful relationships.

These past couple of years, people have been very disconnected, and at the same time have been consuming and creating more than ever before. How do you make your voice heard in such a noisy digitally-based environment? Hint: it's beyond the voice- focus on your intent with your heart and combine empathy & reason.

Everyone who says you can't buy happiness clearly never owned a vacation home! 🤣

Looking for a beach house, mountain house, or ski chalet? Let’s talk! I have an extensive network of top agents that I work with all over the globe. I would love nothing more than to help you find your "happiness!"

Where would your dream vacation home be?

𝗗𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄? I have an extensive network of top agents that I work with 𝘢𝘭𝘭 𝘰𝘷𝘦𝘳 𝘵𝘩𝘦 𝘤𝘰𝘶𝘯𝘵𝘳𝘺.

If you or someone you know needs a Realtor in another location, I’d be happy to interview several on your behalf and refer you to a trusted agent in your area. After all, buying or selling is probably the biggest investment you’ll ever make, so you want to make sure you have someone you can trust to guide you.

𝗡𝗼 𝗺𝗮𝘁𝘁𝗲𝗿 𝘄𝗵𝗲𝗿𝗲 𝘆𝗼𝘂'𝗿𝗲 𝗺𝗼𝘃𝗶𝗻𝗴, 𝗜 𝘄𝗼𝘂𝗹𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽!

I’ve said it before and I will say it again — it is imperative that you interview agents to find the best fit and also find one who has your best interests in mind. However, despite your best efforts, there is always a chance that you could end up with someone you may not see eye-to-eye with.

Your real estate agent is supposed to be someone who can help you through the home buying or selling process 𝘸𝘪𝘵𝘩 𝘤𝘰𝘯𝘧𝘪𝘥𝘦𝘯𝘤𝘦.

Below are a few 𝗿𝗲𝗱 𝗳𝗹𝗮𝗴𝘀 that may mean it is time to move on to someone else...

➀ 𝗣𝗼𝗼𝗿 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻
If your agent doesn’t get back to you or your questions in a timely manner or never returns your calls/texts, this is a huge red flag. Communication is key in a successful real estate transaction.

➁ 𝗕𝗿𝗼𝗸𝗲𝗻 𝗣𝗿𝗼𝗺𝗶𝘀𝗲𝘀
Not keeping promises on marketing your home, or not following through with commitments/open houses/showings, etc. Remember, posting the listing on the MLS is not a marketing strategy!

➂ 𝗕𝗲𝗶𝗻𝗴 𝗨𝗻𝗳𝗮𝗺𝗶𝗹𝗶𝗮𝗿 𝘄𝗶𝘁𝗵 𝗬𝗼𝘂𝗿 𝗠𝗮𝗿𝗸𝗲𝘁
Realtors use their knowledge of the local market to help their clients make informed decisions, and if your agent doesn’t know the local market, or is not up to date on current housing trends, you could end up making a poor decision that could affect you and your net worth for years to come.

➃ 𝗨𝗻𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹/𝗣𝗼𝗼𝗿 𝗣𝗵𝗼𝘁𝗼𝘀
Photos are the first impression on your home, usually seen on a small phone screen, so it is critical that your agent has PROFESSIONAL photos taken. If your agent isn’t taking good photos of your property, they’re doing you a major disservice that can impact your bottom line.

If you are working with a realtor you no longer feel comfortable with, or don't feel as though they are looking out for your best interests, you CAN "fire" your agent, or choose to go in a different direction. If any of these red flags ring true for you, it may be time to have that tough conversation.

For most people, buying and/or selling a home is one of the biggest financial investments made in their lifetime. Hiring someone who can guide you through the process of buying or selling is crucial, but it is equally important to have someone you trust who sticks around long after you've settled and moved in.

Believe it or not, most realtors don't keep in touch with their clients once they have settled on their home, but I believe in doing things differently. I love that I get to be a small part of someone's story and help guide them through one of the biggest decisions of their life. So often I become very close to, and great friends with my clients, and my goal is to be your trusted advisor and resource 𝘧𝘰𝘳 𝘭𝘪𝘧𝘦. Whether it is home-related or not, I am here to help.

From tax appeal questions to contractor recommendations, I am here as a resource for all things home! As your full-service Realtor, I have a team of professionals that I trust and work with daily, and who I would be happy to recommend. ⁣Need help deciding on a paint color, or which tile looks best? I can help with that, too.

If you are thinking about making a move this year, I would love to grab a coffee and help you figure out your next steps!

𝗕𝘂𝘆 𝗻𝗼𝘄, 𝗼𝗿 𝘄𝗮𝗶𝘁? That’s the question most buyers are struggling to answer in today’s current housing market, as prices continue to appreciate, alongside climbing interest rates.

Here's my advice ... there won’t be a perfect moment anytime soon — but that shouldn’t stop you if you’re ready. Prices AND interest rates are expected to climb even higher, which means the longer you wait, the lower your buying power gets.

Are you curious to find out how much home you can afford with the recent interest rate increase? I'd be happy to put together a payment estimate for you or put you in touch with one of my trusted lenders!

Don't live in a crippling place of fears — let's talk through the actual numbers and see what makes sense for your future.

If you’re waiting for a market "crash" with the hopes of buying a cheaper home, I've got bad news for you. Economists and housing experts predict the market will remain strong for a while for several reasons ...

✔️ 𝗗𝗲𝗺𝗮𝗻𝗱 𝗶𝘀 𝗛𝗶𝗴𝗵
Simple supply and demand. With the recent shortage of inventory and more buyers in the market than we have seen in years, the pent-up demand for housing is still high.

✔️ 𝗟𝗼𝘄 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆
The severely low supply is also helping fuel demand, and higher home prices, which is another reason why housing experts say the market will remain strong for years to come.

✔️ 𝗧𝗶𝗴𝗵𝘁 𝗟𝗲𝗻𝗱𝗶𝗻𝗴 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀
Unlike the 2008 housing crash, tougher lending standards and updated mortgage regulations mean today’s homeowners are less likely to default on their mortgages. Basically, it's much harder to get a loan than it was in the early 2000s.

Higher mortgage rates, along with the double-digit price appreciation, have created affordability challenges for many buyers in recent months, which is likely going to slow the market. However, although price growth is likely to slow, prices aren’t likely to decline, so if you've been waiting for the "right time" to buy, let's chat. I would love to help you reach your home buying goals this year!