Ask the Expert: Realtor Lorena Pena

We are thrilled to have partnered with our advertising sponsor and local Realtor, Lorena Pena, who works with a number of families to ensure they have the best experience when buying or selling a home. We recently reached out to our readers on Facebook to ask what they would ask a realtor about the home selling and buying process.  

Ask the Expert: Realtor Lorena Pena

Any tips and/or good programs for first-time homebuyers?

There are a few great down payment assistance programs for first-time homebuyers (depending on income and area). What I would recommend for any first-time homebuyer is to get educated on the process. Find two things: a great lender who knows the first-time homebuyer programs and can help guide you to what program or loan is the best fit for you, and a REALTOR® who knows the market and is able to walk you through the process. I highly recommend having them go through a home-buying orientation before starting to look for homes. If they say they don’t do that, find one that takes the time to do so. Renew SA and SAHA are two great resources.[hr]

Why are houses listed as active option for five or six months? I thought there was a limit of a week or two?

That is a great question. Normally an option period runs one or two weeks, but if the seller and buyer agree to extend it, with a monetary compensation, you can keep extending it. Normally, it’s extended to figure out prices for repairs, inspections, etc. But I will say I have never heard of anyone extending it past a few weeks. Sometimes agents will get a reminder from SABOR (San Antonio Board of Realtors) to change the status of their listing because they get busy and forget to do so.[hr]

Any advice to a military family who’s looking to sell their first home here in SA before PCS-ing out of state?

There are several programs that help families in the transition of being relocated with moving tools, discounts, etc. Military Avenue and Military.com are very helpful websites. Also, there are REALTOR® designations that will guide you to real estate professionals who have been educated in working with military families. One to look for is MRP (Military Relocation Professional), as well as our local program Heroes Welcome Home, which educates REALTORS® on assisting veterans on their real estate options.

I would also go ahead and have a REALTOR® chosen before PCSing. That way, if he/she advises for anything to be done (i.e., a few fix-its, paint touch-ups, etc.), it will be more cost effective to do it yourself than to hire someone to do it. Also, if your home will be vacant, maybe discuss having a Hometender with your agent and see if that is a good option for you. A Hometender basically lives in your home (they go through a company, background checks, etc) and must keep it show-ready at all times. They also absorb the cost of utilities, mowing, etc. Everything else can be done electronically, and yes, you can close on your home overseas. There are some hurdles, but it can be done.[hr]

I have a home in San Antonio that I’m considering selling, but it’s old and in need of some repairs (roof and carport mainly). Can it be sold with as little out-of-pocket from me?

Well, the first thing I will say is yes—but at what price? This is a hard question to answer without seeing the home because “some repairs” can vary from person to person. Let me explain some of the issues you can run into. If the roof leaks or has evidence of water damage, a VA or FHA appraiser can make that a “lender required repair.” A lender required repair means it has to be fixed before the lender releases the funds to close on a home. So many times if the house needs too much work and the seller can’t afford or just doesn’t want to deal with the repairs, they will offer it for sale for cash or conventional loans only, knowing it wouldn’t pass VA or FHA.[hr]

If after you purchase a house you discover a problem that the previous owner had to have known about but didn’t disclose in the Seller’s disclosure, is there any course of action that can be taken to hold the Seller accountable?

That is a very tough question because there are so many facets to the answer, but unfortunately I am held by Article 13 of the NAR Code of Ethics, which states that “REALTORS® shall not engage in activities that constitute the unauthorized practice of law.” But I will say you should consult a good real estate attorney who can advise you on a proper course of action. I really dislike giving non-answers, but it’s actually better getting advice from someone who can tell if you have a case.[hr]

What tools do REALTORS® use to research schools and boundaries?

Most REALTORS® will go straight to each school district’s website. If you are wanting to make sure a certain home goes to a certain school, each district (in this area, at least) has a section wherein you can enter the street name and it will list the elementary, middle, and high school for you. For NEISD, it’s under the “Community” tab. For NISD, it’s under the “Schools” tab. For Alamo Heights School District, it’s a little more tricky—it’s under the “Students & Parents” tab, then “District Map,” then “Street Directory.” SAISD is under “Schools” and then “Search by Home Address.” Also, all the districts post their scores. Another source for ratings is Great Schools, but like any site, people who are happy rarely leave reviews compared to unhappy people. However, it does show test scores, graduation rates, etc. for all schools (charter, public, private, etc). The best thing you can do is visit the schools. If you call any school, you can schedule a tour. If you are visiting a city for a house-hunting trip, I would very much make time to tour the schools in that area.[hr]

Let’s talk curb appeal. What “sells” a house—the lawn, plants, etc.?

A lovely example of great curb appeal.
A lovely example of great curb appeal.

Well, the easy answer would be a great lush and green lawn and beautiful front door. But there is more to it than that! One fun tip is to take a picture of the front of your house and email it to yourself or a great friend. What stands out (good or bad)? Do you have trash cans in front of your garage doors? When was the last time you power-washed your driveway and walkway? Are your trees trimmed back? Do you have dead plants in your planters or flower beds? Has your mulch seen better days? Are there toys and bikes scattered everywhere? Also, look at your front door, because it’s truly the first impression of your home aside from your landscaping. Does it need a fresh coat of paint or varnish? Is the hardware starting to deteriorate? Put a nice seasonal wreath on your door, and make sure your doormat looks clean and fresh. Oh, and be sure if it has words that they are inviting—nothing that says, “Go away.” Last but not least, if it’s in your budget I would consider exterior paint if your home is getting older and has some chipping or peeling of trim or soffits. The trim around windows tends to age the most, so I would take a look around there to see if it needs to be sealed and painted. Of course, if you are planning to put your home on the market before you do any work, I would have a REALTOR® walk the home with you to see if the changes you are considering are right and necessary for your market![hr]

It took me FOREVER to find certain light fixtures/ceiling fans. If I don’t want them to convey with the house, how do I include that information without looking fishy?

There are several ways you can go about this. If you have flyers for your home, I would include a section that explains which fixtures do not convey with the house. Another way would be when your agent emails or sends the other agent the seller’s disclosure send an info sheet that lists the items that do not convey. Remember that curtains, curtain rods, and ceiling fixtures are all items that need to excluded if you want to take them with you. Now, when you enter into a Residential Contract with a buyer, be sure to remind your agent to put those items on the first page of the contract under section 2D exclusions. What I normally tell sellers is if you LOVE that fixture, take it down, pack it, run to Home Depot, and replace it with something else, because someone might also fall in love with it and then you will be forced to decide if you can part with it to sell your home.[hr]

San Antonio Realtor Lorena PenaLorena Pena, ABR, NHS is a San Antonio Realtor with The Osburn Pena Group and a RE/MAX Preferred Realtor. She is a Platinum Top 50 Realtor in San Antonio and was voted top 3 Real Estate Agents in San Antonio by Current Magazine. Licensed since 2002, Lorena is a graduate of Texas State. She has served as Chairman of the Young Professionals Network, currently serves on the Board of Directors for the San Antonio Board of Realtors and is the President-Elect of the Junior League of San Antonio.
Direct: 210-483-5043

Lindsay
Lindsay is the co-founder of Alamo City Moms Blog. A native New Orleanian, Lindsay found her way to the Alamo City via her husband, Steven, who is a born and raised San Antonian. She is a mom to three young children. Lindsay earned her B.A. in Psychology from Rhodes College and her M.A. in Early Childhood Education from UTSA. She was a preschool and first-grade teacher for 10 years and is now a Reading Specialist and Dyslexia Therapist.