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6 Reasons Your Agent Wants You Pre-Approved Before Showing You Homes

by Scott and Tammy Watson

Ever had an agent deny to show you a home because you weren't pre-approved for a mortgage? It's not because they're mean, or they don't value your business... it's actually because they're looking out for your best interests. Let's face it, shopping for a home before getting pre-approved for a mortgage is like walking into a grocery store without a wallet. You may have the desire to buy, but you lack the ability. Let’s cover some basics...

What is a mortgage pre-approval?

In a nutshell, a mortgage pre-approval is written assurance from a lender or broker that you’re able to borrow money to purchase a home up to a certain amount. It’s based on the income, employment and asset documentation you supply at the time of application, in conjunction with your credit history. So let's look at the 6 reasons you should get pre-approved.

1. It carries more weight than a “pre-qualification”.

A pre-approval differs from a pre-qualification. With the former, the lender has actually checked your credit and verified your documentation to approve a specific loan amount (usually for a particular time period such as 30, 60 or 90 days). A pre-qualification can be useful as an estimate of how much you can afford to spend on your home, but it’s a less accurate indicator of your ability to purchase. A pre-approval always carries more weight.

2. You’ll know how much house you can afford.

Getting pre-approved before you begin house hunting allows you to know how much house you can realistically afford. Knowing this narrows down the options and makes the selection process more efficient. Not to mention, it protects you from the unpleasant surprise of realizing the home you fell in love with doesn’t fit your budget.

3. It adds clout to your offer.

In many markets, homes attract more than one offer. If the sellers are weighing one offer against another, they may lean towards the one accompanied by a pre-approval letter. That’s because pre-approvals instill confidence that the buyer is financially capable of purchasing their home.

4. It could increase your negotiating power.

In addition to strengthening your offer when compared to buyers who haven’t taken this step, getting pre-approved may give you the upper-hand when negotiating the price. If the homeowner is eager to sell, they may be more willing to accept a lower offer from someone they’ve been assured is financially capable of purchasing their home.

5. It saves time.

Obtaining a mortgage is a lengthy process. Getting pre-approved ahead of time shortens the time between contract to close -- this way you’re ready to proceed with finalizing the mortgage once you’ve found the home you want to purchase.

6. Without it, most agents won’t work with you.

Makes sense, too. Right? Think about it: when you hire an agent, he/she will invest countless hours showing you homes over the course of your house hunt. If you were in their shoes, wouldn’t you want assurance that your hard work would lead to a favorable outcome for both you and your client?

GroupWatson's *FEATURED LISTING OF THE WEEK*

6212 Pebble Beach Lane

 

PROPERTY DETAILS
$320,000
LISTING INFORMATION
MLS: 13522877
Bedrooms: 4
Full Baths: 2
Partial Baths: 1
Sq ft: 2859
Lot Size: 0.153
Taxes: $0.00
PROPERTY DESCRIPTION

Enjoy Quiet Afternoons on the Oversized Back Patio in this Immaculate 2 Story Home that Features 4 Bedrooms, 2.5 Baths & 2 Car Gar + Formal Dining & Study. Perfectly Updated w'Extensive Wood Floors, New Baseboards & Fresh Interior Paint. The Island Kitchen has New Granite Counters, Stainless Steel Appliances, Stone Back Splash, 42 Inch Cabinets & is Open to the Breakfast Nook with a Window Seat. Spacious Living Room has Vaulted Ceilings, a Cast Stone Gas Log Fireplace & a Wall of Windows Over Looking the Back Yard. Master Suite Features a Luxury Bath Complete with Double Sinks, Split Vanities, Jetted Tub & Large Separate Shower. Upstairs has 3 Bedrooms & Game Room. Within Walking Distance to Lake & Schools.

CONTACT INFORMATION
Scott and Tammy Watson
GroupWatson, Keller Williams
4862 State Hwy 121, Ste. 210
Lewisville 75056

Phone: 214-682-7002
Fax: 214-522-5519
http://www.groupwatson.com/
ADDITIONAL IMAGES

23 Inexpensive DIY Projects You Need To Do This Summer

by Scott and Tammy Watson

It’s Summer, and that bug to build and improve the home is likely hitting a good number of folks. With all of the DIY options out there, how is one to choose what to put their time and resources into? Here's an outline of 23 top DIYs for relatively easy and inexpensive upgrades to the home. Enjoy!

Make your succulents extra happy by using vintage wine bottles for homes.  

Globe lights from IKEA can be a bit boring, but all it takes

is creativity and some paper to make them more exciting.

Just like Mary Poppins' song, a spoonful of tea light helps

the anxiety go down.

Have an old rake? Don’t throw it out! Let it continue to

serve you in the kitchen.

Why discard an old ladder when you can repurpose one as a wine rack?

If you thought spoons were a great way to present tea lights, these easy DIY plaster flowers take it to another level!

Old wine barrel sections can become a beautiful vintage frame around your mirror.

With the right paint, an extra piece of PVC pipe can holster your hair tools.

Are tangled cords making a mess under the sink? A few PVC pipes on the inside of your cabinet door will fix that!

There are simply too many cool ways to display plants on wood pallets to pass up.  

Have you seen the really cool pallet planters? Here’s how to make one yourself.

Bring a spicy warm glow to your home with cinnamon stick candelabras.

This stylish coffee table is a tribute to the growing world of wood pallet DIYs.

 

A great way to repurpose baby food jars into classy flower holders.

Keep a sandy mess to a minimum with this super clever easy-to-build DIY covered sandbox.

These snazzy roll-out toy holders will fit perfectly under most beds.

DIY table design you don’t see every day.

These driftwood candle holders would bring a stylish touch to any home.

Nothing says you love your family like going through the “pane and effort” it takes to frame their pictures on windows.  

...Because you can never have enough chic wine racks.

With a little paint and ingenuity, used glass bottles can be used to enhance a room.

Turn regular cinder blocks into stylish plant holders with a little bit of paint and the right arrangement.

Give your blank wall a Moroccan touch with this wall stenciling DIY.

 

These tips are brought to you by GroupWatson.  If you are thinking of selling or buying a home, give one of our professionals a call today!  214.682.7002

 

Scott & Tammy Watson

Collin and Denton Counties are Healthiest in Texas!

by Scott and Tammy Watson

Collin County and Denton County are two of the healthiest counties in Texas! The annual County Health Rankings and Roadmaps program, which is run by the Robert Wood Johnson Foundation and the University of Wisconsin Population Health Institute, ranks counties within each state based on a variety of health factors and data. The factors measured include health behaviors (exercise, eating habits, etc), clinical care (insurance coverage, number of doctors, etc), and social & economic factors (education level, poverty rate, etc). The program looked at all 243 counties located in Texas for the 2017 Texas County Health Rankings.  

 

When the results came in......Collin County was found to be the healthiest county in all of Texas for the second year in a row! And, Denton County was 3rd out of the 243! Both of these counties promote healthy lifestyles for their residents. Here is how both counties ranked for all the factors:

 

#1 Collin County

Ranked #1 for Health Outcomes

  • #2 for Length of Life
  • #2 for Quality of Life

Ranked #1 for Health Factors

  • #2 for Health Behaviors
  • #1 for Clinical Care
  • #2 for Social & Economic Factors

#3 Denton County

Ranked #3 for Health Outcomes

  • #5 for Length of Life
  • #5 for Quality of Life

Ranked #5 for Health Factors

  • #4 for Health Behaviors
  • #11 for Clinical Care
  • #6 for Social & Economic Factors

 

If you are interested in Buying your dream home in one of these healthy counties, give Group Watson a call today or visit our website at http://www.groupwatson.com/!

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Photo of Scott and Tammy Watson Real Estate
Scott and Tammy Watson
GroupWatson, Keller Williams
4862 State Hwy 121, Ste. 210
Lewisville TX 75056
214-682-7002
972-370-1775
Fax: 214-522-5519