Are You Thinking About a Career in Real Estate?

If you bear these 10 traits, a career in real estate could serve you well.

So you’re interested in learning more about what it’s like to work in the world of real estate (or at the very least, you were curious enough about the industry to check out this blog). Well, there’s a lot of information to digest, but let’s start with an important question: What does it take to be a good agent? Are you cut out for it? Here are the top 10 traits that describe every successful agent:

1. Problem-solver. There are a ton of moving parts in every single real estate transaction and plenty of room for things to go wrong; are you ready to roll up your sleeves and find solutions on the fly?

2. Self-motivated. Do you have an entrepreneurial spirit?

3. Honesty and integrity. These are increasingly difficult traits to find, but they’re essential to achieving true professionalism and serving the needs of others.

4. Willing to hustle. When the going gets tough, tough agents get going.

5. A general interest in homes. You don’t have to be a specialist, though. No one will expect you to have an advanced-level knowledge of architecture or interior design, but you should be someone who enjoys looking at different homes.


In this business, the more detailed you are, the better off you’ll be.

6. Engaging personality. Since we’re doing everything via video these days, are you someone who would feel comfortable reaching out and grabbing people’s attention? Do people often tell you that you have a confident yet welcoming demeanor?

7. Attention to detail.
Salespeople aren’t generally known for having a meticulous, detail-oriented nature, but here’s the truth: In this business, the more detailed you are, the better off you’ll be.

8. Knowledgeable about the local market.
You need to be able to look at the data, draw the proper conclusions, and then help clients make sense of it all through casual, jargon-free conversations.

9. Natural networker.
Building a network of people who know, like, and trust you isn’t just important in the real estate business—it is the real estate business.

10. Well-informed.
Do you have an appetite for the latest reports and news articles about the real estate market (local, regional, and national) and the economy at large? You’ll need one; staying up to date is how we agents further position ourselves as experts.

I hope you found this brief list to be a helpful starting point; there is much more to be said about each of these 10 traits, and there are certainly more traits that will serve you well in the real estate world. If reading this has made you feel excited or even convinced about a career in real estate, I’d love to talk to you. Just give my team or me a call, or send an email. I look forward to speaking with you and sharing what I’ve learned in my 34 years in real estate!

Which 5 Tips Will Make Your Offer Stand Out?

Here are five tips to help your offer stand out to the seller.

Being a buyer in our current market is tough, but if you want to make your offer stand out and win that perfect home, here are the five tips to remember:

1. Get the seller to like you. Send them a letter, video, picture, or anything else that lets them know more about your family than your offer does. Be careful, though—anything you send can either be used for or against you.

2. Offer to do a quick inspection or have no inspection at all. Additionally, you can abstain from making any repairs. This isn’t without some risk, of course, but it does make your offer very competitive.

3. Don’t have any contingencies.
For example, don’t make your offer contingent on your own home sale or financing. Again, this can be risky and it’s not for everyone, but it will help your offer stand out to the seller.

4. Include an escalation clause.
If you offer $300,000 for the house, for instance, tell the seller you’re willing to offer up to $310,000 if you have to outbid the next person. There are ways to word this clearly in the clause while still protecting your interests.


Don’t make your offer contingent on your own home sale or financing.

5. Get pre-approved. Don’t just hand over a letter from a lender saying, “Hey, they’re nice people.” Get your loan fully approved and have a letter that verifies it. Your best option is to get pre-approved for a conventional loan. We’re seeing a lot of buyers with VA, FHA, or government loans lose out on houses right now. It’s hard to compete with a conventional loan because they require less work on the seller’s behalf.

If you need a strong agent to represent you on your home buying journey, get in touch with us at the Charlotte Mabry Team. I’d love to introduce you to one of my expert buyer specialists so you can win the home of your dreams.

If you have any other real estate questions, don’t hesitate to reach out to us as well. We look forward to hearing from you.

Which Home Projects Were Most Popular During Quarantine?

Here’s a fun list of the home improvements that kept people busy this year!

More than 75% of people surveyed said that they’d done at least one home improvement project since March. If you’ve been to Home Depot or Lowe’s recently, you’d probably say that number seems about right. So what were the typical updates that people made to their homes over the past six months?

1. Outdoor projects. Whether it was boosting the backyard aesthetic with a new fountain, putting in an outdoor dining area, adding fences, clearing debris, or redoing the deck, outdoor projects kept more people occupied than any other type of improvement. After all, who wasn’t craving some fresh air this year?

2. Repainting the interior. Why not? A lot of us had extra time on our hands, a good deal of which we spent staring at the same walls every day, wondering, “Is it time for a change?”

3. Switching internet plans. When you suddenly have to start working from home, you find out quickly whether or not the internet plan you’ve been paying for is actually any good. Out with the old routers, in with a new, higher speed connection!


Outdoor projects kept more people occupied than any other type of improvement.

4. Flooring updates. That could include removing old carpet or hardwood flooring and laying down some of those new composite floors.

5. Updating bathrooms.
Adding new fixtures and cabinetry can go a long way.

6. Adding an office space.
In many cases, homeowners created multiple workspaces. Don’t forget that the kids needed a designated spot for virtual learning, too!

7. Installing security cameras.
Considering everything that transpired so far in 2020, it’s not surprising many folks wanted to beef up their home security.

If your quarantine has been less ambitious and you haven’t done any of these things, there’s no shame in that, either! However, if you’re thinking about selling soon, I’d implore you to look at that list again from a different angle: These are the things homebuyers want most! Consider making some of these simple improvements to maximize your sale. For those of you who have already done most, if not all, of these updates, then a home like yours is in extremely high demand.

For more information on selling in today’s market or home improvement tips, don’t hesitate to give me a call. I’d be happy to help you find out the current value of your home and get you started on the right path. I hope to hear from you soon!

How Has COVID Changed Things for Buyers and Sellers?

Here are six of the key ways that COVID has changed real estate.

If you’re thinking about buying a home or selling your current one, you should know about some of the changes that have happened because of COVID. Here are the most important ones to know:

1. Buyers are in a hurry.
On average, buyers look at just four houses before making a decision. In the past, that average was closer to nine or 10 homes. The reason buyers are in more of a hurry now is that supply is so limited. You don’t have the luxury of being as picky in this market as you have been in the past because if you don’t make a decision quickly, you’ll lose out.

2. Home wishlists have changed.
Number one on the list is privacy. Everyone wants a home office now, too. Yard space is another big thing that today’s buyers are looking for.


If you don’t make a decision quickly in this market, you’ll lose out.

3. Buyers are less concerned about commuting. With so many people working from home these days, their commute to work is nonexistent. Those homes that are selling in some of the outlying areas of Chattanooga have an opportunity to be in front of more buyers.

4. Multi-generational households are on the rise.

5. Pets. We’re seeing people make decisions with their pets in mind, such as buying a home with a fenced yard.

6. Housing tenure is going to change. We always talk about the “seven-year itch” because the average homeowner buys a new home every seven years, but we’ve seen people staying closer to an average of 10 years. Due to COVID, I expect to see this reverse and we’ll begin to see people move quicker.

It will be very interesting to see how all these things develop. If you are thinking of buying or selling or just have any real estate questions in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Are You Ready for Staggering Stats?

Here are some stats to show what a difference a year makes in real estate.

My recent research has focused on comparing the past 90 days of 2020 to the same 90-day period last year, and the first key finding is that new listings are actually down 1.3% in our market. Despite everything that’s happened this year, the market is not much different from where it usually is in late summer or fall as far new listings are concerned, but what is different is the number of pending listings we’re seeing.

Year over year, pending listings are up a whopping 26%! With no new listings coming onto the market, where are we finding these houses? We as agents have gotten very creative in how we go about finding people who want to sell their home before they ever even get on the market. If you’re thinking about buying, you need to talk to one of our agents because we know of properties coming on the market before the general public gets a chance to see them online.

Our inventory of homes for sale is down 42% from this same time last year; you better believe it’s hard to find a house to buy, and that’s why it’s more important than ever to have a sharp real estate agent in your corner. The average amount of time that a property spends on the market from the point of listing to the point of sale is 42 days. We at the Charlotte Mabry Team are averaging just 25 days right now, so we’re helping our sellers get things done quicker than the normal pace for our marketplace.


Our inventory of homes for sale is down 42% from this same time last year.

At this same time of year in 2018, the median sales price was $188,000. Fast forward exactly one year, and you’ll find that jumped up to $200,000. Now, after yet another year, the median sales price is—please brace yourselves!—an astonishing $249,000! That represents a 24% year-over-year increase; there’s no question that prices are being driven upward.

In 2018, we had about 3.8 months of inventory, which meant that if no other new listings were to hit our market, then it would take almost four months to sell everything that was already listed. In 2019, that number dropped to 3.5 months of inventory. Now, we’re working with just 1.7 months of inventory—a 25% year-over-year decrease.

If you’re interested in selling, you’re practically sitting on the mountaintop; there couldn’t be a better time to sell! You may be really surprised by what your home is worth in today’s market. We’d be glad to share some more numbers with you and have a chat about your specific selling situation. Just shoot an email our way or give us a call and we’d be happy to get the ball rolling.

Are You Making These Homeowner Mistakes?

Avoiding these 10 mistakes will save you money and keep your home safe.

Did you know that you may be making some mistakes when caring for your home? Today I’m sharing the top 10 errors we see homeowners make. Avoiding these blunders will save you money and keep your house safe and clean.

1. Using traditional light bulbs.
I know the new kind is more expensive, but they’ll save you money over time.

2. Letting a faucet leak.
Replace or repair leaking faucets.

3. Using the wrong air filter size.
Make sure the size fits your unit and that it’s kept clean.

4. Forgetting the thermostat.
Customize your thermostat and temperature to save money when you don’t need as much AC or heating.

5. Unadjusted vents.
Have you adjusted your heating and air vents lately? That’s right, even something this simple can save you money.



If some of your roof’s shingles are curling up, that’s a sign of a problem.


6. Overwatering the lawn. Overwatering is a waste of money and not healthy for the grass.

7. Not checking the water heater’s temperature. Is the temperature too high? Especially in the summer when you won’t be needing such hot water, turn down the temperature.

8. Letting leaky windows or doors slide. Caulking doors and windows saves you money.

9. Hiring a handyman when it’s not needed. Watching YouTube videos about how to do a project is a wonderful idea. See if you can fix it yourself before calling a professional. (However, don’t take on potentially dangerous tasks by yourself.)

10. Neglecting your roof. If some of your shingles are curling up, that’s a sign of a problem. This will cost you majorly when the roof starts leaking.

If you have further questions about this list or real estate in general, send us an email or give us a call. We would love to help you.

How Can You Improve Your Home Inexpensively?

Who said upgrades to your property had to be costly?

What are some awesome and relatively easy ways to improve your home for less than $50?
  • Paint your front door. A beautiful front door makes guests feel welcome.
  • Improve your garage door. Carriage-style doors are popular right now; did you know you can get magnetic hinges at Lowe’s that look just like handles and stick them on your door to rock that style?
  • Create an accent wall with some sort of shiplap or trim.
  • Peel-and-stick wallpaper is a quick and easy way to give a wall new life.
  • Raise the curtains. Moving them six inches to a foot above your windows will make the room look bigger.
  • Update your kitchen hardware.
  • Add some bling to your closest doors. Perhaps a storage mirror is the touch you need!
  • Whitewash your brick fireplace for a slick, modern look that’s still cozy.
  • Frame your bathroom mirror with molding.
  • Update your mailbox.

I hope these tips got the gears turning; impactful home projects don’t have to be costly! If you’d like this list of simple yet effective home improvements under $50 or want to chat about more fun ways to spruce up your home, reach out to via phone or email. I always look forward to hearing from you.

Things to Consider If You’re Looking to Downsize

Sometimes, your big dream could be a smaller space; here’s how to prepare.

If you’re considering downsizing, what sort of things should you be factoring into your decision? For starters, think about your furnishings. I have a great big room in my home that I accented with a huge sofa, and I love how it looks. However, I know that if I were to ever downsize, I’d have to figure out what to do with that sofa—it likely wouldn’t fit (or look good) in my new home. Take an honest look at all your furnishings and decide what could (and could not) practically make the journey with you into a smaller home.

Here’s another tip: New construction homes can be a worthwhile sector to explore if you’re downsizing. Even though their floor plans will be much smaller than your current home, a lot more thought goes into optimizing space in today’s new builds. They also have surprisingly accommodating storage capacity, which is perfect since the move to a smaller arrangement often reveals a cumbersome amount of belongings that suddenly need to be dealt with.


Most people didn’t feel completely comfortable with their decision until after they had some time to truly settle in—that’s natural!


Hopefully, bills will be less expensive in your new home, so make sure you really think about where those savings should go. One potential downside of a smaller home is that your ability to entertain guests is diminished, as you no longer have that 20-foot-long dining room table or sprawling backyard. Again, just make sure you’re considering all of the ways that your lifestyle will be impacted.

I happen to know a lot of folks who made the change from a roughly 5,000-square-foot house to something like a 2,000-square-footer; they loved it, but it did take them some time to adjust. Most of them didn’t feel completely comfortable with their decision until after they had some time to truly settle in—that’s natural!

If you’re thinking about selling right now, we have tons of buyers looking for homes of every size, and that includes yours. If you’d like us to test the waters for you, just send me an email or give me a call! We can offer some numbers on your home, gauge how many buyers are in the market for property just like it, and go from there. I look forward to the opportunity of speaking with you soon!

Q: What Does Every Home Seller Need These Days?

This is how home sellers are succeeding during uncertain times.

Our team has been and is continuing to sell homes in the face of a pandemic and I wanted to share how we’re doing that with you today. Here’s what every home seller these days must have:

1. Great pictures and video. We use professional photography, drone photography, and Matterport 3D cameras and tours. This allows buyers to see everything about your home virtually before they see it in person.

2. Video walk-throughs. Whether it’s through Facebook Live, FaceTime, or Zoom, we’re using a lot of videos to show homes virtually. We help paint a picture of the home.

In a market like this, it’s so important that you choose the right agent to help you sell your home. We’ve sold more homes so far this year than we did last year. We figured out how to have showings, market homes, and get them sold all while taking the necessary health and safety precautions.

If you’re thinking about taking advantage of this fantastic market by selling, don't hesitate to reach out via phone or email. We look forward to hearing from you soon.

Q: What Are Some Worthwhile Summer Projects?

Here are some summer projects every homeowner will be glad they tackled.

Though we’re more than halfway through the year, we still have plenty of summer sun left to enjoy. The weather isn’t always on our side here in Tennessee, so I like to take advantage of this season by tackling some easy home maintenance projects. Here’s what I recommend for all homeowners:
  1. Vacuum your vents. You might not like the sound of this, but it’s so important to keep vents like the one in your bathroom ceiling clean and functional. If the fans in there sound excessively loud, it’s likely because the vent is clogged up. 
  2. Have your air conditioning inspected. Don’t wait until the late summer sun and relentless humidity force your unit to give out. You’ll never regret scheduling an appointment with a professional to service it and get it running optimally for the rest of the season.  
  3. Inspect your roof. Whether it’s you climbing up there (please be careful) or a professional roofer, why not use this time to check out the health of your roof? You could even have someone fly a drone over your house for a hassle-free peek at its condition.  
  4. Revive your deck and patio. Bust out the pressure washer, remove leftover debris from winter or spring, stain it, and rearrange/clean your outdoor furniture. Now’s your chance to take advantage of one of your home’s best features by relaxing under blue skies.  
  5. Clean out your gutters. Failing to address any problems with how water flows through your gutters can lead to foundational issues in your home. Water that’s not properly draining through the downspouts can spell trouble for the fascia, soffits, and all of the siding on your home. While not the most exciting project to undertake, regular gutter maintenance will go a long way if you ever decide to sell your home.

These projects were just a starting point; we have a list of way more than five, and I’d be glad to send those over if you reach out to me via email. As always, give me a call if you have questions on this or any other real estate-related topics. I look forward to hearing from you, but until then, good luck with all your summer projects!

Q: Are Homes Still Flying Off the Market This Summer?

Despite the pandemic, homes are still flying off the market.

You may have heard doom and gloom about our real estate market lately, but the reality is, homes are still selling like hotcakes.  

Despite the COVID-19 outbreak, over the past three months, pending sales have increased 6% compared to last year, and last year’s market was busy enough. The biggest issue is the number of homes for sale. Typically, we have anywhere from 5,000 to 6,000 available listings at any given time, but right now there are only 1,500 homes for sale. That’s a 20% drop year over year, and one of the lowest inventory levels I’ve ever seen. Homes are also averaging between 30 and 40 days on the market. 


There’s never been a better time to get top dollar for your home.


What’s especially interesting, though—if you’re thinking about selling—is that the median sales price has skyrocketed. In May 2018, the median sale price was $185,000. In May of this year, it was $221,000—a $40,000 increase in just two years! There’s never been a better time to get top dollar for your home.

If you’d like to know what’s happening in your local area before listing, we’d be happy to come out to your home and tell you exactly what it could sell for. Just send me an email or call my team directly.

As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.

Q: What Are the 6 Things Every Homebuyer Should Consider?

These are the six tips every homebuyer should keep in mind.

Here are the six things that every homebuyer needs to consider during their search:

1. Location, location, location. It’s no joke. Where you buy your home is as important as anything. Make sure the location is good before you make an offer.

2. Don’t buy your forever home first. Try out a starter home, find out what you like and don’t like, then use the equity you build up in that home to buy your dream home next.

3. Buy in moderation.
Just because you’re approved by a lender for a certain purchase price doesn’t mean that you have to hit that max. There are going to be other costs, like insurance and closing costs, that you’ll need to have some money saved up for. Don’t spend it all just on the house.



Just because you’re approved for a certain purchase price doesn’t mean you have to hit the limit.

4. Don’t wait until spring. If you’re ready to buy this fall or winter, there will be some great bargains out there in the market.

5. Be open to areas outside of town. If you’re willing to live out in the country a bit or over in the North Georgia area, you might be able to get more house for your money.

6. Find out your buying style. If you’re looking for trendy things, what’s going to happen when you’re tired of that trend? Think about a home in terms of if you’ll still be happy with it five years down the road.

If you want more tips about how to buy a home successfully, reach out to one of our great buyer specialists. If you have any other questions for me or my team, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Q: How Can You Improve Your Credit Score?

Here are some easy ways to improve your credit score.

We always hear how important our credit score is, but how does it work? 


Bad credit is usually acquired by missing payments or defaults. First, let’s talk about missing a payment. It’s one of the most important things to watch in your life. It’s crucial to pay your bills on time if you want to improve your credit score, particularly your house payment. 

You should make every effort to get this paid on time, especially if you plan on buying a home in the future. It can take up to nine months to recover from just one missed payment.

"If you’ve gotten a paycheck loan, this will negatively impact your score in the near future."


Additionally, it’s important to keep a close eye on your credit card balances. The balance should be no greater than 50% of your limit at any given time. 

You should be checking your credit score every year. If it’s around 750 or higher, you’ll get the best interest rates on loans, insurance, etc. The rules have changed a little bit lately, particularly if you’re someone who gets paycheck loans. The new credit score rules will take this into account and can affect your score in a negative way.

If you’d like to learn more about how to build your credit or improve it, we’d be happy to connect you with an expert in the area who can help answer your questions. If you have any other questions related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Q: What Are Some Ways I Can Protect My Home?

Here’s how to keep your property well-monitored so you can sleep easy.

There are four great tech tools you can employ to make your home safer:

1. Home security system. In this day and age, there are so many options available. There are portable devices available on the market, as well as systems that get fully wired into your home. Perhaps most convenient are the systems you can manage through apps on your smartphone. Since there are so many different options to choose from, consumers can find a decent security system for a relatively low cost.

2. Smart locks. Gone are the days you needed to have a physical key in your hand at all times. Now, you can set complex number and letter combination codes to unlock your door. If you’re at work but forgot to unlock the door for a scheduled appointment with an exterminator, for example, you can unlock your door remotely via your phone, and lock back up when the job’s done.

3. Smart lighting.
Maybe it’s a late night at the office, and you don’t necessarily want to advertise that you’re still not home yet; you can once again use your phone to turn on all or some of the lights in your home. It adds a level of security, but also convenience—no one likes fumbling around for keys or light switches in the dark.

4. Security cameras. Whether it’s a Ring doorbell so you can know who’s knocking no matter where you are, cameras around the perimeter of your house, or anything else that can help you record activity on your property, investing in security cameras is such a fantastic thing to do.

If you have questions about these security measures or anything else concerning real estate, please call or email us. We would love to speak with you.

The Top Home Improvement Projects for ROI

The four best home improvement projects to save money when selling.

When you’re updating your home, your money will be better spent on certain projects over others. So what are the best updates to do if you’re trying to avoid overspending? Here are my suggestions:

1. Adding a stone veneer to the exterior of your home. This can change the look of your house in a way that is attractive. By doing this, you could get a 96% return on your investment. That means if you spent $10,000 on this update, you could add $9,600 to the overall value of your home.

2. Garage doors. If you spend the money to replace your garage door, you’ll typically get around a 95% return.

3. Minor kitchen improvements. This could include small projects like painting cabinets or changing countertops—doing so will get you around a 77% return.

4. Replacing your siding/windows or adding/replacing the deck. This project could bring you a 75% return.


Look at some of the other houses in your neighborhood to see what they’ve improved.

When you’re making upgrades to your home, I recommend doing these types of maintenance projects first before you spend money on strictly cosmetic items. The home improvement projects that will bring you the lowest returns are typically over-expenditures on bathrooms and kitchens, where you’ve spent your money outside the market.

If you’re going to remodel, look at some of the other houses in your neighborhood to see what they’ve done. If everyone else has a $100,000 kitchen in their home, you probably need one too. Of course, reach out to a real estate professional for their expert advice about what projects would most benefit the value of your home so that you don’t overpay.

If you have any further questions about which home improvement projects are the best or how to increase the value of your home, don’t hesitate to reach out to us. We’d love to hear from you.

Q: Do You Need A Survey When Buying a Home?

So you’re thinking about buying a home—do you need a survey?

I personally always buy a survey when I purchase a property. For one, I want to know if I’m paying for the right property. We can’t just assume that the description of the property is what we’re getting; it’s important to verify that information with a survey, particularly if you’re purchasing outside a subdivision. If you’re buying a property that comes with land or acreage, you’d want to know where the corners are, especially if, for example, you wanted to put up a fence.

Speaking of boundaries and corners, you want to ensure that there aren't any sort of discrepancies or arguments over the house or adjacent buildings. Through the years, I’ve had many houses where, in the process of doing a survey, I’ve found out a portion of it that I liked (a storage shed, for example) was actually located on the neighbor’s property. Be sure to determine whether all parts of the property you expect to get are actually on the property.


I wouldn’t recommend buying a home without a survey.

Similarly, make sure that the property is properly zoned. If you’re thinking of adding a building or constructing a duplex, you’ll need to know if the zoning is correct before you do so.

The bottom line is that I wouldn’t recommend buying a home without a survey. If you’d like more information to put surveys in context, don’t hesitate to reach out to us. We’d be glad to hear from you.

Sell Your Home Faster

If you’re stuck indoors like the rest of us, you can still prep your home so that it sells quickly once you list it. Here’s how.

The coronavirus is keeping mostly everyone indoors, but if you still plan on listing your home soon, I have several preparation tips to share that will help it sell quickly down the road. These tips will cost you neither a lot of money nor time. Start by trimming up your landscape. After that, give your door and doorbell a nice maintenance check.

To find out what other tips will help your home sell quickly, watch the video above in its entirety. If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.

How Can You Sell Your Home If You Can’t Afford to Update It?

If you need to sell but can’t afford to make any updates, here are your options.

If you need to sell your home but it hasn’t been updated in a while, what do you do?

In today’s world, your home either needs to be updated (thank HGTV for that) or priced under market to compensate for its lack of updates.

One option is to offer an allowance. Take your carpet, for example. Before showings, you can place a board of carpet samples in your home along with the quote of how much it would cost to reinstall the new carpet of the buyer’s choosing. Buyers like visual, tangible offerings like that instead of you just telling them about the allowance. If you’re offering to install granite countertops, place a piece of granite out (along with the installation bill). You can also offer a paint job in your contract to be completed after the transaction closes, as long as it's allowed by the lender.


In today’s world, your home either needs to be updated (thank HGTV for that) or priced under market to compensate for its lack of updates.

There is a downside to offering an allowance, though. Many buyers don’t have the vision to follow up on it. They just want to move in and settle down, and if you can’t offer that, they might not be interested.

Another thing to think about is rehab loans. which allow buyers to roll these kinds of updates into them. If they want to change cabinets, add granite countertops, and change the carpet in one bedroom, that can be done as part of their loan. As a seller, you need to let buyers know that even though you can’t afford to make these upgrades, you’ve priced your home so that they can roll them into their loan.

If you’d like to know more about your options as a seller or you’re a buyer and want to know more about rehab loans, don’t hesitate to reach out to me. I’d love to help.

The Merits of the 5-Year Home Sale Rule

Buying a home is a great long-term investment. Here’s why it’s important to own one for at least five years.

There’s this crazy thing out there called the “five-year home sale rule.” Should you care about it?

If you’re thinking about buying and/or selling a home in the near future, you definitely should. The five-year rule is more of a rule of thumb that can help you decide whether you should purchase a home in the first place.

When you buy a home, you should plan to stay there for at least five years because it takes that long to recoup the expenses that you used to buy the home in the first place, allowing you to at least break even on your investment. If you don’t stay long enough, it could cost you a lot more to buy.


Staying in the home for longer than five years is ideal.

You have money tied up in any home you buy and it takes a while for appreciation rates to catch up. If you spent 10% or 15% down, it will probably take you three to five years to recover at our current appreciation rate of 3% to 5% per year. There are selling costs too, so staying in the home for longer than five years is ideal.

In my world, the five-year home sale rule is something you should always think about before you buy and sell.
 

If you’ve been in your home for seven to 10 years already, you’re in the sweet spot right now where you have a little extra equity and can pull it out to buy something bigger and better, or even downsize.

If you have any questions about the current state of the market, don’t hesitate to reach out via phone or email today. I look forward to hearing from you soon.

Tips & Tricks for Winning a Bidding War

So you’re thinking about buying a house—how do you win a bidding war on a home?

If you’re in the market to buy, what’s the key to winning a bidding war against other buyers who want the same home? Well, there are some tactics that are proven to help homebuyers make and win offers on properties in a competitive market:

1. Offer cash for the property if you can. Cash offers tend to be more attractive to sellers than financed offers.
 

2. Write a personal letter to the seller. Let them know about you and your family. Why do you love their house? The downside of letting the seller know your desire is that it mitigates some of your leverage, but if you’re serious about purchasing the home, personal letters can help you stand out against the competition.

Don’t use any of these tactics without first consulting with a real estate professional.

3. Waive the financing contingency. If you’re using a loan to buy a home, consider waiving the financing contingency, or the clause that states your home purchase is contingent on your loan getting approved. It might be a little more risky for you, but it does give your offer a little more strength.
 

4. Write an escalation clause. This is where you write a clause into your offer that says you’ll be willing to pay a certain amount more than the top offer up to a certain dollar amount. For example, you could say you’ll pay $500 more than the top offer up to your budget ceiling.
 

5. Waive the home inspection. One way to highlight your offer is to make it known you’re willing to take the home as is. This isn’t usually recommended since home inspections are an important part of the process (especially if you’re paying top dollar for it).

Don’t use any of these tactics without first consulting with a real estate professional, and that’s where the Charlotte Mabry Team comes in handy. Our buyer specialists are excellent at helping clients win their dream home and know how to skirt the fine line between winning an offer and paying way too much.

Feel free to reach out to us anytime you need help with a home purchase! Our buyer specialists are standing by to serve you.

How to Find Out Whether a Neighborhood Is Right for You

If you want to find out whether a neighborhood suits you or not before buying a home there, here are a few tips to remember.

When you buy a home, you’re not just buying the home—you’re buying the neighborhood too. What should you look for in the neighborhood of your prospective home to make sure it suits you?

A great way to check things out is to book an Airbnb home in the area and spend a night or weekend there. Not all neighborhoods will have something like this, but if it’s a possibility, I highly recommend it.

Next, check the area’s crime rate. All sorts of websites will let you check crime rates of statewide ZIP codes or neighborhoods. I’d also check whether any sex offenders live in the area. Also, try driving from the neighborhood to your workplace during rush hour to test the commute and make sure you’re okay with it.


Try meeting some of the neighbors—they’re the best resource you’ll have.

Visiting the local stores and restaurants is another useful tip. You might find out that the nearest grocery store is a place you’re not a fan of, and the one you do like is in another part of town.

After that, try meeting some of the neighbors—they’re the best resource you’ll have. They'll probably be more honest than they should be, but they can tell you all about the neighborhood.

In general, my advice is to check out the neighborhood before you look at the property. It’s always good to do your homework!

If you’d like more home purchasing tips or have other real estate questions, don’t hesitate to reach out to me. I'm here to help.

What You Should Know Before Buying New Construction

Here are the pros and cons of buying new construction over resale.

If you’ve ever pondered buying new construction, there are some valuable things to know that may impact your decision.

For example, you normally can’t negotiate the price of your new construction home, but you certainly can negotiate the terms and available upgrades. It’s probably not realistic to think you’ll nab a new construction for 20% below market, but don’t forget you have wiggle room with the features and upgrades.


A huge pro of new construction is the fact that you’ll be the first one to live in that home.

Another thing to remember is that, while you’re able to easily upgrade your new construction home, it does come at a cost. Perhaps instead of settling for the standard stove, you opt for that ‘whizbang’ stove that does everything under the sun—you can have it, but be sure you’re minding your budget.

A huge pro of new construction is the fact that you’ll be the first one to live in that home. That being said, be prepared to cope with a fairly messy neighborhood, especially if yours is one of the very first homes built.

The flip side of that messiness? In the beginning, your home’s appreciation will increase faster than any other type of home on the market (though it will level off at some point). If you can tolerate a neighborhood that’s a tad disarrayed at the start, new construction may be the best way to gain value.

We have some wonderful, detailed information we’d be happy to pass along that compares buying new construction to buying a resale home. If you have any questions or ideas for future video blog topics, reach out to us via phone or email anytime. We’d love to hear your ideas.

What Can You Do to Help Your Down Payment?

Saving for a down payment can be tough, but it’s easier if you know about these tips and tricks.

If you’re worried about being able to save up for a down payment on your home purchase, I have some tips to share today that should help.

First of all, you can look for grants. They don’t have to be repaid, and if you qualify based on income or credit score requirements, you could receive a sum of money to use on your down payment. A mortgage professional should be able to let you know the types of grants for which you can qualify. There could be grants based on your job, too.

A down payment loan is another thing to consider. You will have to repay it, but in many cases, it isn’t until you have to sell the property, or it’s forgiven if you stay in the property for a certain number of years. Finally, a gift from a friend or family member can be given to you to use as your down payment.


A mortgage professional should be able to let you know the types of grants for which you can qualify.

As you can see, there are several ways to get creative about paying for your down payment. If you are interested in learning more or if you have any other questions, feel free to reach out via phone or email. We’d be happy to answer any questions and get you in touch with the right lender, if necessary. Looking forward to hearing from you!