Alexis Clark is a legal maven who pivoted her knowledge, tenacity and drive to the world of real estate. Her expertise blends effortlessly into every real estate transaction she undertakes and with her expanded knowledge as a mortgage broker and project manager, she is able to guide each and every client smoothly to the finish line in their homebuying process. Let’s meet her….
You are a graduate of the Thurgood School of Law. How did your early interest in law develop and how did you pivot your early career into real estate? What type of law did you handle early in your career, and did your own homebuying experience lead to your interest in real estate?
Negotiation has always been a passion of mine, which initially sparked my interest in law. Encouraged by others who recognized my aptitude for legal work, I began my career with wills and estates, later transitioning to evictions. However, my true immersion in real estate occurred while working as a project manager for a construction company. This role allowed me to appreciate the potential of properties and the craftsmanship involved in building.
The last few years have been a series of reality checks for homebuyers, sellers and property investors. In the upcoming year, what do you predict will be the overall vibe in the housing market? Will it be a good time to buy, sell or stay put or a mix of all?
As we enter 2024, interest rates are gradually decreasing, creating a favorable environment for sellers. Limited inventory in many states ensures quick sales at or above asking prices. For buyers, the current market may seem challenging due to interest rates, but a slower pace allows for negotiation and potential concessions. While the market may become more competitive as interest rates drop, strategic actions, such as refinancing within six months and negotiating concessions, can benefit buyers. Investors should consider entering the market early to capitalize on rising home prices.
With increases in building costs and homes in general, many potential first-time homebuyers feel like they have been frozen out of the market. What advice would you give to the first-time homebuyer who feels overwhelmed, financially inept and scared to take on the responsibility of being a homeowner in this ever-changing market?
While buying a home can be intimidating, especially in the current market, it’s essential to seek professional guidance to understand the process. Lenders will not exceed the appraised value, and for those feeling overwhelmed, various financial assistance programs exist for first-time homebuyers. Consulting with a lender can provide insights into available resources. Homeownership, despite its responsibilities, offers significant rewards, such as building equity, potential rental income, and participating in real estate’s wealth-generating potential.
Taking into consideration the current housing prices for newer construction homes, is there a such thing as a starter home anymore? Are you continuing to see good deals/packages being offered by builders in order to secure buyers in today’s market?
Starter homes still exist, although new construction may not fit this category. Builders often provide incentives like appliances, blinds, and closing cost coverage. Additionally, a one-year builder’s warranty and predetermined prices offer buyers instant equity upon completion.
It has been said that one should buy an investment property first so they can create that stream of income to finance their dream home. Is this still a good thing and also is it a good long-term option for new homebuyers who feel they may never get their dream home anyway?
Absolutely, investing in an income-generating property or one with equity-building potential can pave the way for financing a dream home. Getting into real estate with an initial purchase provides valuable experience and knowledge on financing options.
During the pandemic and since, many have invested in remodeling and upgrading their current homes versus selling or moving into another. Have you seen a major increase in this with clients-after seeing what the market has to offer- deciding to go this route?
The pandemic prompted many to reevaluate their living spaces, leading to increased demand for home remodeling. Clients chose to enhance their homes, making them more conducive to remote work and other lifestyle needs. Contractors experienced high demand, as homeowners opted to invest in upgrades rather than selling.
When considering investment opportunities, what should someone consider and what are the best types of investment properties to consider?
Successful investment requires a solid team, including a lender, realtor, and contractor. Starting small, such as with a townhome, can streamline the process with fewer permits and faster completion. Townhome communities with homeowner associations (HOA) often cover roof and exterior maintenance, simplifying property management. While townhomes may offer a smaller return than single-family homes, they provide a reliable entry point for new investors.
What options should someone with a solo income, good credit but who is currently renting and wants to own their own home consider? Is saving first for downpayments in order to have a more competitive offer the first step?
Initiating the home buying process starts with obtaining a preapproval, preferably from a trusted bank. Developing a rapport with the loan officer is crucial, considering the extensive documentation required. While various first-time homebuyer programs assist with down payments, saving for additional expenses like appraisals, inspections, closing costs, and earnest money is advisable.
There are many who feel families should not sell the homes and land of their elders but many struggle with the thought of relocating to where the property is or find it financially draining or burdensome to maintain their own homes while also maintaining property they have inherited. How can more people make this work for them and maintain their family legacy without feeling burdened?
Property management companies can assist in handling applications, credit checks, and maintenance, providing a solution for those looking to preserve family homes. Inherited land can be leased or marketed for leasing through a realtor. Seeking opportunities in the area’s primary industry can make the property financially viable, while realtors can provide insights into housing needs.
Where are you licensed and where can our readers connect with you online?
I am a licensed realtor and loan officer in Georgia. You can find me on Instagram, Facebook, and TikTok @AlexisIsMyRealtor.
Do you have any upcoming events, products or speaking engagements to promote?
Follow me on social media for updates on upcoming events and engagements. Whether on television, radio, or elsewhere, I’m A.C. Always Closing, ready to assist with residential or commercial property transactions in the metro Atlanta area.
In your downtime, what is one of your favorite organizations, focus areas or charity events that you truly enjoy or feel led to contribute to or work with?
As a proud member of Delta Sigma Theta Sorority, Incorporated, I am particularly drawn to community service, with a focus on educating youth about banking and credit.
Anything to add to encourage anyone considering buying or selling within the next year?
Navigating the home buying process takes time, so attend first-time homebuyer workshops to familiarize yourself with the journey. For sellers, secure your next residence before capitalizing on potential profits from selling.
