Get the Buyer to Stay A Little Longer Viewing Your House

It's hot out there and buyers are hot and tired by the time they look at a couple of houses.  Want those home buyers to stay in your house and look at it a little longer - make them feel at home there?  First, crank up that AC - get that temperature down so that it hits them when they first walk in.  They will breathe a sigh of relief.  They might even sit down for a minute - especially if you leave out some nice, cold lemonade - not in plastic cups they can take with them but regular glasses so that they have to stay in your house a little longer and enjoy the refreshments.  I even had one seller freeze some fruit and then leave it out - cut in little chunks.  Very refreshing!    See if these tips don't help you get a buyer for your house to make the offer!!!

Why Is My Closing Delayed?

This is a Big question I get from buyers and sellers - Why Is My Closing DELAYED?!!!!  For a buyer, it is very frustrating as they have given the lender everything that was required at the beginning.  Now, it's time to get ready to move and they are asking for even more documentation!  And the buyer has to get an extension from the seller. What if the seller will not give them one?  What if the seller received an acceptable back up offer for more money or from a cash buyer?  Doesn't the seller have to extend since it's just a few more days?

First, the seller does NOT HAVE to extend.  I have seen it happen.  The seller is just waiting for the buyer to mis-step, ask for repairs, ask for extensions, etc so they can cancel that purchase agreement and go with a better one that they have received.  Buyer asks, doesn't the seller HAVE to let us know they have another offer.  That answer again is NO.  

As a buyer, what can you do to prevent delays?  I can't guarantee that you can prevent a delay to your closing but you can certainly hedge your bets by doing these items:

1.  Make sure your taxes have been property filed timely.  If you filed late, let your lender know up front BEFORE you write the offer, and see if that will pose any problems.  This is probably the number one reason a strong buyer has their closing delayed.

2.  If you have any issues that your lender sees up front BEFORE you write the offer, get those issues cleared up.  If you need a vendor to make corrections to your credit report, you are at their mercy.  They will get to it when they get to it.  They have no vested interest in doing it timely for you.  Get this done before before writing the offer on the house.

3.  When you do your pre-approval, see if the lender sees any potential issues that needs to be addressed up front.  

4.  Ask you lender how long they need to close the loan (another big issue - you need to know how much time your lender needs - don't assume they can get it done in 30 days).

5.  If getting a Rural Development loand know that they are always seeming to run behind.  Your lender can tell you how much extra time you need to add to make sure you don't have to ask for an extension later on.

6.  And perhaps, one of the best things you can do to make sure you close on time is selecting the right Realtor and have them recommend several lenders that they have had success with.

Call us today to help you purchase your home and close timely!

Five Steps to a Success Real Estate Closing

In Louisiana, there are 5 MAJOR steps to a successful real estate closing that a seller should pay particular attention to. For the buyer, they are busy getting their loan approved and packing, and they really aren't aware that the seller's hands are tied until the buyer knows for sure that they are approved and can close. Imagine how the seller feels, when they are busy packing, their loan was approved weeks ago, and they are preparing for their move, only to find out the buyer doesn't qualify, or needs to provide another document to the lender, or the lender discovers at the last minute that the buyer has not filed their income tax for the year and that has to be completed in order to close. Very frustrating for all. And for the buyer, to find out at the last minute that they have an issue - how very disappointing. As I have said many times, do your homework up front - buyer get credit approved so that all you have to do is get an inspection and appraisal on the home you select. For sellers, don't disappoint the buyer by not taking care of the maintenance on your home which will show up in the home inspection!

So, here are your steps!

1. Purchase Agreement - yes, someone has to offer to buy and someone has to agree to sell - at acceptable terms for all. This really is step one!

2. Inspection - the home has to pass the inspection the buyer has on the home. It is not to turn an old house into the same condition as a new one but nobody wants to buy someone else's deferred maintenance. The sale can fall through right here if the buyer and seller are not in agreement on repairs.

3. Appraisal - the house must appraise for the sales price. A client asked me the other day why this was important. If the buyer is willing to pay $x then what's the deal with the lender! Seriously!! The bank is the one lending the money and if the buyer defaults, the lender ends up having to sell the house!

4. Loan Approval - as mentioned earlier, this should NEVER be an issue. Buyers, get this taken care of first!!

5. Closing - should be an exciting day but if the buyers file is randomly selected for review, closing can be delayed. If the seller has already moved out and the closing is delayed, where do they go? Who pays? Give the sellers a couple of days after closing to move out to make sure the loan closes. Sellers, if they give you a couple of days, make sure you give them a home in tip top condition - nice and clean!

The Pat Wattam Team at RE/MAX First strives to make sure our buyers and sellers are prepared so that there are no surprises and everybody knows they will have a successful closing! Call us today at 225-298-6900 and let us help you with the process!

The Settlement at Willow Grove in Baton Rouge, Louisiana

Back in the day when I rode horses, a favorite place to ride was the Kleinpeter Farm on Perkins Road. Fast forward to today, and now we have this upscale planned community for people with a busy lifestyle - The Settlement at Willow Grove.



The rooftops tell the story of the types of homes you will find here Low maintenance yards, a feeling of community with the design of the subdivision. Central to that concept is the extensive incorporation of green spaces and tree-lined walkways opening to 10 beautifully designed parks featuring landscaped gardens, fountains and benches. At the back of the subdivision is a lovely park with playground equipment, pool with poolhouse, and ampitheater setting. Just imagine strolling the sidewalks or riding your bike to the pool.





Your neighborhood is self contained and yet, you are steps away from Perkins Rowe with restaurants, shops, and a movie theater and also the larger, Mall of Louisiana!


When you think of the homes for sale in the Settlement at Willow Grow, the first person you think of is Gayle Carmouche with LaFosse Home Builders. Her track record of bringing upscale homes to many owners in River Ranch in Lafayette has been repeated here in the Settlement at Willow Grove. Whether you are interested in one of her spec homes or a custom build, you will not find a builder more attentive to your needs. LaFosse Home Builders are represented by RE/MAX First Agents, Pat Wattam and Dorsey Peek.





At the front of the subdivision you will find the Village Village Center. A Bistro is already open and you can see the progress as the businesses are built. This harkens back to the idea of a village square, complete with brick pavers and an eclectic mixture of charming shops, restaurants and offices. Central to the center will be a pedestrian plaza featuring a 16 foot fountain, benches and trees, offering the perfect verandas for relaxing, sipping coffee or taking a stroll. Activities such as concerts and special events will beckon residents to the plaza to enjoy The Village’s ambiance and energy.

Located in the heart of Baton Rouge on Perkins Road between Bluebonnet and Siegen Lane - The Settlement at Willow Grove, coupled with LaFosse Home Builders, gives you a great selection of homes to choose from. For more information contact Pat Wattam at RE/MAX First.

Mardi Gras and the Spring Market

After a winter we all are not used to, Mardi Gras, thank goodness, is here with good weather to boot. As the temps heated up this past week in Baton Rouge, 79 degrees, the buyers are back out looking at houses, offers are coming in - just a sign of things to come. With a strong economy and low unemployment, the Greater Baton Rouge Real Estate market will see another banner year in 2014. We always thought the 'Katrina' years would not be beat, but we proved ourselves wrong on that in 2012 on my team - our best year ever! Last year sales were even stronger. The best evidence of that is the amount of inventory on the market. Baton Rouge has shrunk to a 4 month supply of available houses, and Ascension Parish runs between 2 and 3 months. What has that done to pricing? So far, we haven't seen prices approach the Katrina years but if inventory remains low, prices have to rise. If interest rates remain low, then prices will climb. If interest rates rise, as expected, then prices will stay stable as they always have in our area. So, if you are thinking of selling, give us a call. We will help you decide what you need to do to get your house ready for market. If you are thinking of buying, then set up a buyer counseling interview so we can show you how to go about finding the perfect house and making it yours!! The Pat Wattam Team at RE/MAX First is always here to help!

An Exciting Time to Buy a Home

With the roller coaster ride Wall Street is experiencing, again, many people are reconsidering the stability of real estate as an investment. You know, even in the markets that are suffering, it is a great time to buy because of the ability to buy a GREAT house for a low price. I would be all over that if I were in that market!!! I mean, people can actually buy the dream home that could not have began to afford several years ago. Even if they lose money if they have a house to sell, they will more than make up for it on the home they are buying.

If you aren't in a depressed market, the fact that interest rates dropped below 6% (we were getting 5.5% one day last week!) allows anyone to take advantage of their market! Here in the Greater Baton Rouge Area not only do we have low interest rates and good loan products if you have a decent credit score (560-580) we can find a loan product that meets your needs. We also have the First Time Home Buyer Bond Money that is now available, Rural Development Loans with 100% financing (and you don't have to be in a rural area to take advantage of this program), plus FHA loans with only 3% down!!!

This is a very exciting time to be in the real estate market!!

Redefining Retirment and Housing Options

As many boomers, such as my husband, are approaching retirement, so many choices need to be made! How many of us really prepare for retirement? How many husbands and wives have had the discussion about what they expect in retirement? I think you would find that husbands and wives, (or life partners) have totally different expectations of what they want retirment to look like! I know that my husband and I haven't talked a lot about it. I think guys just don't talk a lot to start with because it is their nature to do something where it's a woman's nature to talk about it, a lot, make plans, etc!

A few things we have discovered over the past two years, in preparing for this day: 1. You really need to have your financial plan in order. We have worked very hard to put as much in our retirement funds as possible, have sought professional advice on the decision to take early retirement and what we will do to make up for the loss of income. 2. We have a plan, although pretty sketchy, on what his new role will be (yes, he is very brave as he is joining my team!) 3. We have bought two retirement properties that are also income producing - so we have fun places to go that aren't too far away and yet because we are both still working, they are in areas that rent well.

As a REALTOR, I know that listening to my client as they approach home buying and retirement at the same time is crucial. Helping guide them on buying the home of their dreams, or downsizing here in our area so that they have adequate funds to buy a retirement property in a different area.

AND speaking of buying in a different area - if you are thinking of buying retirement property in a different area here are some more suggestions: 1. Rent a property there during the worst time of the year - how about Florida in July and August, or Canada in January and February!!! 2. If you are considering purchasing real estate in a foreign country, you need to truly understand the laws on home ownership and your money. In some countries the only way to purchase is to give your money to an attorney who then purchases the property for you....and you had better know this person VERY well and have total TRUST!! 3. Is the community an open one who will welcome newcomers - or is it a place where people have lived all their lives and you will be an outsider 4. Will your friends and family want to visit you in this new location or will you have to travel to see them. 5. Will this new property appreciate in value so that when it's time for a move to a retirement facility you will have the money you need.

Retirement can be exciting! As much as I first rejected the idea of my husband taking early retirement, now I can see the benefits! Life is too short! If we like to go hiking and traveling, then we need to do that now while we are physically able to do so! If you like spending time with the grandchildren as an active adult and bond with them while they are small, then now is the time!

Make your plans and live your dreams today!

Great Real Estate Market? Time to Buy a Vacation Home!!

While the rest of the country is confused about where the real estate market is headed, here in Louisiana we are still forging ahead. It's interesting that historically when the rest of the country was experiencing unprecedented appreciation, our market would be just the opposite. It's nice to be the opposite of rest of the country now as our average sales price continues to increase. Of course, with that we are also experiencing a shortage of inventory in different segments of our market. Gone are the days when you can find a $100,000 home in many areas of Baton Rouge.

With interest rates continuing to remain around 6%, it is still such an excellent time to purchase. With that in mind, maybe it's time to think about buying that vacation home! We were fortunate enough to purchase a condo on the Diversion Canal two years ago and although it's only 40 minutes from our home, it feels like we have really gone on vacation - and yet it is close enough that we can run down anytime.

A vacation home doesn't have to be an expensive condo in Gulf Shores (although that is a GREAT idea!) but someplace you can get away and relax. St Francisville, any waterfront area from the Tickfaw to False River to the Diversion Canal - we have plenty of choices. Think about how you would enjoy a lazy weekend and seek out those places. You know you can always count on us to help you shop!