Welcome to First Home Specialist - Josie Morrison
My primary focus in my real estate career is making the needs of my clients a priority. I make myself available for consultation and guidance from start to finish and stay in touch long after the transaction. I strive to meet my clients needs in the fastest and most efficient manner. I keep active in neighborhood and civic groups in the area. I stay current with knowledge of local markets and any factors that affect real estate, especially in the Wheaton and Warrenville areas.
Our Real Estate Resource Center has webinars, information on first time home buying, selling, local entertainment, sports, dining, museums recent home sales, home valuation and summer links for things to do in the area. More.....
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› Recently Sold Homes near Wheaton
› 5 Things To Do Before You Sell Your Home
› 10 Common Mistakes Buyers Make
› My Blog
› Home Buying Webinar
› Household Logic: Great articles & video's on home repairs & maintenance
I will do whatever it takes to be your real estate professional for life by offering the following to you and your family:
RESULTS
Buying or selling a home is the largest investment most people will ever make. It also means finding an agent who listens to you, who pays attention to thedetail that guarantee a problem free experience. When all is said and done, results are what counts in real estate. Whether I am finding a buyer for your property or helping you find and purchase a home, I will provide the care and expertise to get you the results you want.
COMMUNICATION
Communication is a vital element in business, especially in real estate. Perhaps that is why Josie excels. For a buyer or seller of a home, information is critical to making decisions that are both personally and financially successful. She understands this and will do whatever it takes to make you feel comfortable and positive about your real estate transaction. How? By listening carefully to your needs and concerns.
YOU MATTER MOST
To Josie, real estate involves much more than houses. It is the people inside the houses that matter most. When it comes to your family, every member is important. That’s why she works so hard to ensure that when your transaction closes, you and your family are satisfied not only today, but also for years to come.
TRACK RECORD
As a full-time real estate professional Josie brings a dynamic work ethic to her real estate clients. Her practice of commitment and drive have brought her success time after time. Her dedication to making a transaction that is agreeable with you allows a smoother transition for your family. Josie is content to handle the worrisome details involved with buying or selling a home so that you can focus on your family’s basic relocation needs. Turn your family’s move into an invigorating experience.
Designations and Skills to help you with your Real Estate Transactions
› Accredited Buyer Representative (ABR)
› Certified Residential Specialist (CRS)
› Internet Marketing Expert (e-PRO)
› Certified Negotiation Consultant (CNC)
› Innovative Marketing Ideas to Sell Your Home Quickly
› Excellent Communication Skills
› Compassionate & Honest REALTOR® with Proven Results
› Superior Real Estate Knowledge
› Expert Product and Neighborhood Knowledge
› Exceptional Personal Service and Commitment to Your Success
› Certified Foreclosure & Short Sale SpecialistThe New Market Dynamics
Buying a home can be a VERY frustrating process if you are not knowledgeable about the types of sellers that exist in today’s marketplace. It is a fact, there is a growing number of homes offered for sale that will not close. Distress properties, pre-foreclosures, short sales, subject to bank approval… what does this mean to you as a buyer?
#1 Traditional Sale
Buyer & seller negotiate a sale & the transaction closes timely. These homes are more likely to have been responsibly occupied and repaired as needed. In addition, sellers usually repair or negotiate home inspection issues that may be discovered by new buyer#2 Short Sale/ Pre-Foreclosure.
Buyer wants to buy, seller wants to sell – however, there is not enough money to complete the transaction. The seller owes more back to the bank than the buyer is willing to pay. In this situation the seller will accept the contract with a contingency “SUBJECT TO BANK APPROVAL”.
There may be more than 1 bank involved to clear the seller’s obligations. This process will take a minimum of 90 calendar days up to 6 months and sometimes longer. Short sale market standards mandate that seller accept multiple offers, which means your offer, will not be the only offer under consideration. Rarely does the bank disclose the number of offers collected or the position your offer is relative to any other contract presented. The bank may keep your offer or accept a higher offer. What should be the expectations of the buyer on a short sale purchase:
- SOLD as-is: No repairs
- Stressed ownership: Property may not have been managed or repaired appropriately
- Frustration: Weeks/months will go by with no progress/updates from the bank
- Competition: Unknown if you’re the only offer or how many offers are being considered by bank
- Sellers Qualification: To be valid candidate for short sale, seller must prove hardship; many sellers have assets and liquidity that would preclude/disallow bank to accept short sale. Typically not determined until months into process.
- Bottom line: Bank may decide to re-negotiate purchase price “prior to close”.
- Availability: Home may revert back to bank in foreclosure before getting an answer from the bank
- Loss Rate Lock: Buyers will lose their rate lock due to time expiration.
- Loss of power to buy: With daily continual lender restrictions, loans available today allowing you to be a purchaser can be gone along with your ability to buy.
- Close of escrow: Rarely, if ever, do these deals close timely.
- Close of escrow stats: 2% of all short sales actually close while 87.8% of other sales mentioned sell and close.
- Interim housing: Are you willing to make interim housing plans with the high risk and no guarantee of closing?
Have you ever heard the saying “sounds too good to be true?” Can you afford to risk losing time, money, effort and the home of your choice by fooling with a property that doesn’t have the power to perform?
#3 Foreclosure / Bank-Owned / Corporate Owned
The Bank is the owner of the home.
- Sold as-is: no repairs and no disclosures
- SLOW to negotiate: M-F 9-5pm, can take 1 week to accept a FULL PRICE OFFER.
- Difficult to inspect: Utilities often turned off & house winterized
- Buyer must be pre-approved with lender and accept additional purchase addendums
- Generally request closing in 30 days or ASAP
- Per diem penalties apply to buyer if house does not close timely due to buyer/financing delay
- 50% of the time closing is delayed 7-10 days because seller/bank is “not ready”
- Higher closing costs: survey, well, septic & city inspections are buyer costs
- Typically credit 100% taxes to buyer vs. 105% customarily given
- Typically do not help in closing costs to buyer
- Utilities often cannot be turned on (water) until 2-3 days after close
Josie Morrison
RE/MAX Suburban
1417 North Main Street
Wheaton, IL 60187
Direct: 630-781-6383
Office Phone: 630-653-1900 x205
Toll-Free: 866-419-4350 x205
Email: Results@YourRealtorJosie.com
Facebook: Resources for Buyers and Sellers
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