Buying Real Estate Covid-19 Edition

Buying Real Estate

Covid-19 Edition 22 // May 2020 S aws buzzing, builders building, offers flying, buyers buying…2020 spring real estate is in the air! Not this year.

National, state, and local shutdowns have changed most all aspects of our daily lives and how we conduct business. Working from home and social distancing may become more of the norm even after the official quarantines end. Our family of agents are here to help.

For those of you looking to buy a home, the first thing to do is refresh your information with your lender, and yes, you can still watch NetFlix and do it from your phone. Interest rates are still at historic lows, however, over the past month and a half, the lenders have begun tightening requirements. Where before you may have qualified with a 580 credit rating, you could be required to have a 620 or much higher and certain loan programs available before the virus may no longer be offered. Rodney Long at First Bank in Ringgold gives us this guidance. “The mortgage credit supply dropped to the lowest point in five years according to MBA’s Mortgage Credit Availability Index. MGA Associate Vice President Joel Kan Said, ‘Lenders are making credit criteria changes to account for the increased likelihood of forbearance and defaults, as well as higher costs.’ Higher credit score requirements are one example of stricter standards being put in place.” Buying Virtually

Once you’ve gotten your loan program selected and are reassured that you can obtain any necessary financing, it's time to start looking for your next home! You will begin crafting your home buying plan with your agent by reviewing all your required, desired, and wished for features of your new home. You will use your personal

smartphone, tablet, or computer to review your daily search results that not only show you what is available, but also includes recently sold properties you just missed. When you see a home you like, let your agent know and they will assist you in reviewing the details and get any questions answered you may have. 3D Virtual Walkthroughs provide a great way to “walk” through each room and explore the kitchen and master bathrooms in 360 degrees. When you escape on your next necessary excursion, doing a drive by will let you see where the nearest gas station, fast food or grocery store is to the property. If you see an interesting home while you’re out, jot it down, and let your agent know when you're safely back.

You’ve narrowed it down to a few homes, now what? Your agent will schedule your guided virtual tour, and head to the property. With tools such as FaceTime, Zoom, and others, your agent gives you a guided tour. All while you cook breakfast or get another mug of coffee. If you would like to tour the home personally, we can help make that a safer visit as well! To best protect everyone's family, we ask that you wear protective measures such as masks, gloves, and booties over your shoes while we are inside the property. It is also recommended not to bring young children during tours, so you may need to find a babysitter. Your agent will open the door, turn on the lights, and provide access to areas for you to inspect. Afterward, they will close and lock up the home when you're ready to leave. You didn’t touch a thing! Woot!

This is the one! Your agent will guide you through the process of preparing and submitting your best offer, while helping you plan the next steps. NextHome Plus utilizes electronic document preparation, so you can review and sign your forms from your smartphones, tablet or computer wherever you are. We will also assist with keeping track of all the important dates. From home inspection, pickup and delivery of your earnest money, and any further negotiations, we are here to help you understand and navigate each step along the way. On closing day, you can have your bank wire the funds to the title company, utilize a mobile notary service to come to you and collect your signatures or do it safely in person still at a local closing company.

We can also suggest a local moving company to help get everything to your new home.

Throughout all of the process, we are here to smooth out any bumps in the road to make the purchase of your NextHome as stress free and safe as possible.

For Trace Mashburn, the owner of real estate brokerage NextHome Plus, the success he has enjoyed while working in the real estate industry stems largely from his upbringing.

Trace comes from a farming family, and he learned what hard work and home ownership could provide for a family as he grew up. He was able to see the value of home ownership firsthand as his father, Alvin, turned the land they owned into equity to purchase almost 12 acres of land in 1977 for $62,500. Alvin developed that land into a business park, which was something that interested Trace. “I really enjoyed watching my father take a piece of dirt and turn it into a viable commercial business park,” Trace said. “It started my real estate career with a background that most people don’t get to experience.”

This business park became the home of two of his father’s businesses: Remco Business Center and Remco

24 // May 2020 Equipment Sales and Rentals. As Alvin expanded on developing land, Trace assisted in the management of

Remco Business Center and the tenants and became the vice president of the equipment business.

Trace first became a licensed realtor in 2005. Over the next several years, he worked with several real estate firms in the area and developed a successful real estate sales career. “As a realtor, we have the honor of helping people with what is, for most, the largest financial transaction and investment of their lives: purchasing or selling their home.” As Trace continued working and helping the community, the thought of owning his own brokerage became more and more appealing. He wanted to own a brokerage that would continue his principles of client service above all else.

Seven years later, in 2012, Trace partnered with a pair of his investor clients and opened a property management company, which was his first experience as a licensed broker. In 2015, he discovered NextHome, Inc., an independently owned company with a focus on changing the way consumers work with local agents and shop for real estate online.

“NextHome was exactly what I was looking for in a franchise,” Trace said. “I wanted an all-in-one system that provided my agents with the tools and training they needed

to be the best in the business. NextHome’s package includes everything from transaction management and CRM to marketing materials, all freshly branded and ready to go. I didn’t have to reinvent the wheel.”

Trace initially found out about NextHome, which is based in California, through the national real estate news source Inman News, and he found himself being drawn to the company’s progressive nature and established track record of success. “What piqued my interest was the passion that [NextHome CEO] James Dwiggins had when he was describing the things that were broken in our industry,” Trace said. “The commitment to technology made me realize that this franchise was built for today’s buyers and sellers but could also move with the times.”

In June 2015, Trace became the owner and operator of NextHome Plus, the first NextHome franchise in the state of Georgia and just the 22nd franchise with NextHome at the time. Located in Ringgold, Trace’s brokerage is dedicated to serving the needs of clients in two states: Georgia and Tennessee. NextHome Plus serves Georgia residents in Ringgold, Fort Oglethorpe, Lafayette, Rossville, and the rest of Catoosa and Walker Counties. In Tennessee, the brokerage services clients in Chattanooga, Ooltewah, East Brainerd, and Hixson. The office offers residential and commercial sales, land acquisition, land development, and farm sales, as well as property management services.

As Trace has grown his business, his franchisors have grown to appreciate his work ethic and community-focused mentality. “When I first met with Trace, I knew that he was a driven individual who wanted to provide a level of real estate service in his community that isn’t normally experienced,” said NextHome Vice President of Sales Charis Moreno. “Every person on our team that has had the chance to work with Trace has said the same thing—he combines professionalism and dedication with being one of the nicest people you will ever meet. As we expand NextHome, Trace is exactly the quality of broker and person we are proud to be affiliated with.”

NO EXPERIENCE NECESSARY

NOW HIRING AGENTS!

Have you ever considered a career in Real Estate? Why not work with a company who knows what they are doing and how to get the job done? No experience necessary. Now hiring agents for our office in Ringgold, Georgia. Call us today for more information.

105 RBC Drive Ringgold, GA 30736 706.935.6398

NEXTHOMEPLUS.COM

BENEFITS

• EXCELLENT IN HOUSE TRAINING

• TEAM BASED ATMOSPHERE

• FLEXIBLE WORK HOURS

• GREAT CLOSING TEAM

TRACE MASHBURN

REALTOR/BROKER trace@nexthomeplus.com