Jason Bramblett Real Estate Talk Show. 

Live Saturday's at 9:00 AM on 94.5 FM WPTI

Expert insight into today's Real Estate Market.  Serving High Point, Greensboro, Winston Salem and the 35 cities and towns surrounding. 

 

 

May 26, 2018

05262018

Listen to podcast   JBRE Radio Show 

 

 

JB: Good morning. Welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and along with Jason for the next half hour we are going to be talking all things real estate. We welcome your calls if you are listening in this morning and you have a question or comment for Jason. We are live in the studio. 336-553-0796 is the number.  553-0796. And with that we say good morning to the man who has always got a plan, Mr. Jason Bramblett. Good morning.

Jason: Good morning. Good morning.  I hope everybody is doing well.

JB: Doing good.

Jason: Still fighting that little yellow pollen out there, but

JB: Yeah, I will tell you what and a little muggy out there.

Jason: Yes.

JB: Kind of pea soup out there.

Jason: Yes, it is.

JB: Soupy, swampy.

Jason:  It was definitely last night for sure.  But, Memorial Day. Thank you, guys. Thank everybody that is, it is the families that have paid the price, the ultimate price, and the freedoms that we enjoy are because of the men and women that are not with us. So I hope that we remember this weekend. It is what allows us to be on the air. We are not controlled by a government that says that you can only say this and only do this.  Because of those freedoms we have I can run a business.

JB: Right.

Jason: It wasn't free.

JB: Right. There was a cost.

Jason: There was a cost. Remember that. That is what the weekend is for is to remember those that are not with us any longer.  The true heroes, if you will, that have forged ahead. I have been in many countries where that choice of freedom is not there, and you have the thumb screws of the government controlling what you can do and what you can say. It is that oppression, in America we have competition. Okay? It is just really whoever is the best at what they do is going to win, and they are going to get ahead. Or if you provide great service and all the things that make a company or business outstanding and one that attracts people to it that they want to either work with you or use your service.  When you have the government stepping in and creating a system in which that is not, freedom is not there to do that, it is hard to win, guys.

JB: Right.

Jason: I have been in many of these countries where you just do not have that opportunity, the freedom.  It is interesting. A lot of the, some, one side or the other of Americans seem to think that is, they want to be like that to make it fair.  All I can suggest is maybe go visit one of those countries and test it out first. Because I think if you talk to the locals, you will discover that it is not all quite as great as you might think it is. Right?

JB: Right.

Jason: Whether you are running a multi-bazillion dollar company or getting a welfare check today, be thankful that those systems are there and that you have got the freedom to be able to that.

JB: Well said.

Jason: Anyway, real estate. That is a good thing because you can own it. There is actually a few of those countries that I have been to you cannot even own real estate.

JB: Wow.

Jason: So how about that?  Everything is owned by the government. That is exciting. That is another great freedom that we have right here in America is that we, you have got the ability to own property, to own land to build a home. So that is a definite freedom that we enjoy here that a lot of places do not. We have some awesome, awesome new houses hitting the market. You need to go to our website. You can check them out. Jason Bramblett dot com. Click on that Coming Soon link. They are all over the Triad. We have got properties from Bermuda Run to Mebane to Asheboro to the Virginia line. We cover it all, and so if you are thinking about selling, I can assure you that we probably, if you can hear my voice, and you are in the state of North Carolina, we probably can help you out. And even if you are not in the state of North Carolina, I have a phenomenal partner up in Virginia that I can introduce you to.  Damon and his team will take phenomenal care of you guys up there.

JB: Well, I know we have got a lot of people up in southern Virginia listening to us. We do not want to leave them out.

Jason: We do. Absolutely,

JB: We appreciate you guys listening in, too.

Jason: They call me all the time. I am thankful for the calls. I cannot help you personally, or my team cannot, but we have got a partner up there that does many of the same things that we do, and he does a great job as well. Interest rates. Holy smokes, man! They are just spinning like a top right now.

JB: Yep.

Jason:  It is the yo-yo of are they up? Are they down? When should I time this thing out? Look, interest rates are like predicting who is going the win Super Bowl. You have just got to go for it. You cannot sit on the fence right now. They are kind of all over the place. You are losing buying power if they go up. So think about that. Every time the interest rates go up a percent, it is ten to thirty thousand dollars depending on what rate you were quoted and what your credit score is. It can be significant buying power. Even if it was only ten grand, ten thousand bucks, that is a bedroom in a house most of the times.  So that could be the difference between a four-bedroom or a three-bedroom house. So think about those things. Is now the time to sell? We are going to dig into that as well. One of the things that we are hearing a lot though is man, I cannot seem to find a house I like. I kind of think I want to sell. I am hearing that it is a good time to sell. But I am looking online and I cannot find. What should I do? We are going to talk about that. That question has come up multiple times in the past three or four weeks. And then we have got your calls and your emails. We are here in the studio. You can give us a call at 882-7874 or always shoot me an email. Just go to Jason Bramblett dot com and click on Contact Us. Share your story, and if it is radio-worthy, we will share it right here.

JB: Sounds good.

Jason: And most of them are. I get very few uninteresting emails. Most of the emails we get are really good.

JB: Right.

Jason: Really great questions. So keep sending them our way.

JB: Well, why don't we just start off with a question? Is that okay?

Jason: Let's do it. Let's do it.

JB: Somebody writes in and says hey, I want to sell, but I cannot find anything I like to buy. What to do? What to do?

Jason: What to do? This is one we just keep on hearing almost daily. The data that is out there right now says that if you sell this year, you will get more for your house this year selling right now than you would have in the past ten. That is pretty good data. Right.

JB: Sure.

Jason: If you are looking at it from a monetary standpoint, the data says put that house up for sale because you are going to win.

JB: Right.

Jason: The interesting thing is that some owners do not care.  And so it is kind funny. The perceived pain of moving or renting for a short amount of time is outweighing that price.

JB: Right.

Jason:  It is very interesting. I listened to a very intelligent guy speak in New York City a few weeks ago, Mr. Bob Pittman, who is the CEO and Chairman if I Heart Radio or Media. Very intelligent guy. Something, just some wisdom that he was sharing is that in America with the businesses that he has been involved with, and he has been involved with a few. He started MTV. That is a little one, right?

JB: Yeah, a little company he started.

Jason: So he has done okay. But one thing he shared with us is people will buy, sell, or react when convenience, whatever the perceived convenience is to them, and that lives out so true right now in this real estate market. Because common sense would say if I am thinking about selling and I bought it for a hundred grand and I can sell it for one-thirty or one-fifty, I am making money. It is America. That is what we want to do is make money. However, the inconvenience of the move say eh, it is okay. Or I cannot find what I want, and I am going to have to move twice.

JB: Yeah.

Jason: It is actually the question is not really about the money. It really goes back to about the convenience. Let's face it. It is a pain in rear end to move. I do not care. I have moved in our office. I have moved from one, I have one, two, three, I have moved my desk four times as we have grown. I might as well have moved to Raleigh. It does not matter if you move twenty feet or eighty-five miles, it is still the same pain in the rear end.

JB: It is a job.

Jason: It is a job.

JB: It is a job, man.

Jason: What is sad is I have not unpacked from each location that I moved within the office.

JB: You still have got the boxes?

Jason: I still have some carry-on stuff. It is like what is that? And every time I move, I am like oh, that is where I was. Oh, I did need that for something I am sure. The pain of doing that, just moving, it is not convenient.  And therefore, sometimes we will not take advantage of the market or the opportunity. Why? Not convenient. The money does not really matter at the end of the day. It is kind of interesting. Now not the time for everybody. But for some it will. Here is the thing. We have all been cheap in our life about something. Right?

JB: Sure.

Jason: Typically, what that has to come back to is you did not really maybe want it. I could take it or leave it. I bought a car this way. I really did not care if I got the car or not. It made no difference to me. But I showed the man the money that I had. I said this is what I got. If you want it sold, it is sold today for this price. Outside of that I do not really care. I am not negotiating. I am not nothing. It just is what it is.

JB: It is what it is. Yep.

Jason: It was just hey. If it is convenient, I will do it right now.  Now there have been other times where, this other half that I have that is important.  It might not have been convenient for me, but it was something that she or he wants. Right?

JB: Right.

Jason: So sometimes we maybe do things that are, we overpay for stuff out of convenience. Think about the gas station, right? Think about when you are at the airport and you buy that four-dollar water. It is kind of a government-controlled thing.

JB: Oh, my goodness.

Jason: Why in the world can you cannot take a sealed-up water bottle through the stupid x-ray? It makes no sense to me whatsoever.

JB: I do not even want to go there.

Jason: But TSA, it should be funded by all the things that they confiscate.

JB: Yeah, they could take their confiscated items and sell them and fund that.

Jason: Absolutely. But what do they do? They throw them in the trash. But only in this country. It is interesting.  I was flying, I will not mention the country, but flying back to the US and I bought some hot sauce. Just a little souvenir. It was three point two ounces.

JB: Okay.

Jason:  All right. The limit at that time three ounces. That point two, which is what, a lick, nothing, kept it from getting on the plane. I am negotiating with the guy because this hot sauce is awesome, and I forgot to put it in my checked bag. I had like four bottles. I am like come on, man.

JB: It is hot sauce.

Jason: It is hot sauce.

JB: Come on.

Jason:  I said let me keep one. He is finally like all right you can keep one. He kept three. He took it over to a trash barrel. It was completely full of hot sauce. A fifty-five-gallon drum

JB: Full of hot sauce.

Jason: Completely full of this hot sauce. I said, what are you guys going to do? He said, oh at the end of the, you the last plane. When you all leave, we take all that and put it back in the store. I said that is brilliant.

JB: That is brilliant. We are going to have us a barbeque.

Jason: Exactly. He was like oh we are going to take that back up there and we will resell it. I thought that was brilliant. So make sure that if you bottle-size it to whatever is above the TSA regulation. Right?

JB: Right.

Jason: They were reselling all the hot sauce to all of us lovely tourists that were buying it and forgot to put it in our checked bag.

JB: Nice racket there.

Jason: But I felt good in that I was not obviously the only one because there were probably a thousand bottles in there.

JB: It must be some good hot sauce.

Jason: It really is. It is some good stuff.  So for benefit, right, and for convenience we do different things. So here is the thing. You might have to get uncomfortable and do something temporarily to take advantage of the market that we are in. You might have to get a little uncomfortable to cash out, to get the full advantage of getting the most money for your house right now. You might have to sell and rent for a month or two.  That is very possible. You might have to move twice or put that stuff in a little mini storage or one of these pod things they have out here to take advantage. That is a choice. And not everybody is going to make that. Some people are like it is not worth it. I know I am going to get eighty thousand dollars more for my house than I paid, but the pain of doing all that is not worth it. The inconvenience of that is not worth it to them. Some people are like I am out the door. Right?

JB: Right.

Jason: And you have got to make that decision. But I will tell you data and the statistics tell us that right now, today, you can sell your house for more than you could in the past ten years. That is a pretty big number.

JB: Right.

Jason: So think about that.

JB: Well, other than price, are there any additional benefits to selling right now, Jason?

Jason: Oh, absolutely. How about this? You could spend the whole summer at the swimming pool.

JB: I like that.

Jason: Yeah, especially if you did not have one. Right?

JB: Yeah.

Jason: I have got some friends of mine, they were moving to, they moved to Raleigh, but we sold their house in about a day. That was pretty quick, so they were not really expecting that. They thought they were going to have time to look because they knew, obviously they know where Raleigh is. They just did not know where they wanted to live. So they decided they were going to rent an apartment. We sold their house probably in May. Right when school was getting out. Somewhere in there. I would check on them every now and then.  How is it going? You looking? We have kind of looked a little bit here and there. I was like where is the sense of urgency that you all had? Right? It was like man, I come home from work. I do not have to cut the grass. I do not have to pull any weeds. My wife and my kid are at the pool. We go down and have a little barbeque. So they just turned the whole summer into like a little vacation if you will.

JB: Like vacation.

Jason: They were just at the beach at a condo. And then of course it did finally wear off and they were like it is time to buy a house. But they lost their sense of urgency for about ninety days. They were like this not doing nothing. I like it. It is okay. It is not bad. It is kind of funny that they could take advantage of that. Here is the thing. Another benefit is you can, if you have sold your property and you are in an apartment, and maybe you have got a ninety-day apartment, and we have got plenty of people within the Greensboro area and Winston-Salem, we have a relationship with these apartment communities. They will let you do a three-month lease. So if you need help with that, we can assist you. But it lets you act faster, right? You can move quick. When you do not have anything to sell it is like hey, I can buy your house and I can, it is not contingent on anything.

JB: Right.

Jason: I am approved for the loan. I have got the money for the down payment. I have nothing to sell. I am ready to go. That is a big deal. Right?

JB: Right.

Jason: Think about the seller looking at that offer.  If they have got a pile of offers and some of them are contingent, there may be some of them that are financing terms that they are a little uneasy on, and you come to them with nothing to sell, conventional, and I am putting twenty percent down, you are probably going to get moved right to the top of the pile. So think about that. Those are some win-win things. Just the highest offer, I can assure one hundred percent, we have sold many, many, many homes where the highest offer was not the offer that won.

JB: Right.

Jason: It was the offer that we knew they could get to the finish line.

JB: There you go.

Jason: Just because you can pay more does not necessarily mean that you are going to win. There are other conditions within that. There are other terms that can put you way above the pile outside of price. So something to think about.

JB: Right.

Jason: Let's do this. Let's go pay some bills.

JB: Okay.

Jason: We have got to let you hear a couple of great commercials. I am sure we have got coming up, right?

JB: That is right.

Jason: Absolutely. We will be back here in just a minute. Triad Real Estate 911.

JB: All right. Stay with us. (in/out music) And welcome back. You are listening to Triad Real Estate 911 with your host Jason Bramblett. Thanks for joining us this Saturday morning. How about an email question, Jason? You want to go back into that?

Jason: Let's do it. Let's do it.

JB: All right. We have got one from Betsy. Betsy writes in and says Jason, I am seeing several homes that have been on the market for a while that we like. Our issue, and it appears the seller's issue, that these home need work, and we do not have the money to fix them up. Is there a loan that we can get the money to fix up these homes? Thanks, Betsy. So that is a great question.

Jason: It is a great question. It is something that yeah, wow, this one here is another one that comes up quite a bit.

JB: So it is quite common, huh?

Jason: It is. There is a time in a house's life, I tell you the most difficult home to sell is a house that is seventeen to twenty-one years old, and it has got an original roof and heating and cooling system.

JB: Right.

Jason: Because you just know the next guy that buys that house is all in and they are paying for them things.

JB: Right.

Jason: They are not broke. They work. They are out of date.

JB: But the law of averages is creeping up there.

Jason: The law of averages is you are writing the check, buddy. That is just all there is to it. And those are tough because it is not like is the house worth less? No. Actually it will appraise. The appraiser does not look at the roof and say oh this one is new and that one is twenty years old and we are going to ding it. No, they do not. As long as it is not leaking, you are good to go. It is just averages.

JB: Right.

Jason: When you buy a twenty-five-year shingle, it is a guesstimate that it will last twenty-five years. It does not just like I bought it on May first and in twenty-five years on May first I have to take it off. No, I have seen roofs that have gone thirty years, forty years.

JB: Right.

Jason: And a lot of that depends on the condition and the quality, of course, and also how they are installed. Believe it or not, that does make a difference. We have some roofing companies, I do not know. I guess they think they are going to retire by putting one less nail in. Anyway, they do. So they skip on some of the materials. It is interesting. Those houses out there that people would buy, but they have the fear of that. And or they have got well, let's face it. The wallpaper. The brass. All the lovely things that we talk about. The overgrown bushes. Right?

JB: Right.

Jason: The holly trees that ate the house. They have got all these other cosmetic things. The carpet is worn out. The hardwood floors need polished. The appliances are old. The seller does not have the money to invest to update them. And guess what? The buyer does not either. So it becomes a difficult sell in that both parties lack the funds to make the change. Now there are some loans out there that will allow you to borrow money for improvements. Okay. Here is the thing. Most of them require a pretty healthy credit score. We have some folks that are not quite where they need to be on the credit score standpoint, and so it makes it difficult for them to qualify for these. The other thing is typically they require a little larger down payment. So you are not going to get your zero down home loan on this type of thing.  The other one is, there is one that is pretty affordable. It is called an FHA 203K Loan. It is a good product, and it does allow you to do this. There is one stipulation with this one, and actually probably all of them, but this one for sure. You cannot do any of the work yourself. So you cannot do any sweat equity.

JB: Right.

Jason: They will allow you to borrow the money for the fix. They just want to make sure the fixer is well-qualified to do the repair. So what they do not want is you to do the plumbing, and you, not being a plumber, and end up flooding the house, which is, it is interesting. The bank, at this point in this type of loan, they always look at it as what are we going to do if we get this one back. So they are looking at that asset actually a little more stringent even than they normally do. Because they are looking at it as hey, if this does not work out and we end up with this house back, how is this going to look to us, right?

JB: Right. Exactly.

Jason: They scrutinize that. So they make sure that you, the homebuyer, are very well-qualified. But yes, there are simple, there are certainly some loans out there that can work for that. We have some great lender partners. You can go to Jason Bramblett dot com. Click on the lender link, but it is Caliber Home Loans with Dave Held over there. And Glen with Lending Bay. Also does a great job in helping us out. We have got some guys that have those loans that can help you there. But real estate right now, it is about if you want to move, it is a great time to do it. Remember your home is worth more today than it has been in the past ten years. So if you would like to find out what it is worth, give us a call at the office or go to Jason Bramblett dot com. Everybody have a safe weekend out there traveling around, driving around.  Look out for people. Get off the phone. Do not text and drive. And we will see you next week. Right here. Triad Real Estate 911.

 

JB: All right. Have a great weekend everyone.

Posted in Radio Show
May 19, 2018

05192018

 

Link to the podcast    JBRE Real Estate Radio

 

JB: Well, good morning and welcome to Real Estate 911 with your host Jason Bramblett. I am JB, and for the next half hour, we are going to be taking your calls and talking all things real estate with Jason. If you would like to participate, you can give us a call. We are live in the studio on this wet Saturday morning. The number here in the studio is 336-553-0796, 553-0796.  And with that we say good morning to the man with the plan Mr. Jason Bramblett. Good morning.

Jason: Good morning. Good morning.  Well, it is what we call all wet outside today, is it not?

JB: It is a very, kind of a jungle-y like out there, kind of tropical.

Jason: Very. If you are a duck, you probably like it. But that is about it. If you want to see what a really nice day is, just turn on your TV because it is all weddings and bliss.

JB: Yes, very nice over across the pond this morning for the royal wedding.

Jason: Very much so. Yes. And everybody who is anybody is there in the street hanging out.

JB: Not that we are watching or paying attention.

Jason: Not at all. Not that there is a TV on right now and we are looking at Justin or whatever his name is. Timberlake. There he is.

JB: Yeah, there he is. Whatever.

Jason: Okay. Back to real estate. But it is a nice, I would not mind selling that little pad over there.

JB: They have got, you reckon you could get a little bit for that?

Jason: I think you could. It is pounds over there, right?

JB: Yes.

Jason: Yeah, so it would be a couple pounds.

JB: A couple pounds.

Jason: I have a feeling it would.

JB: Yeah, buddy.

Jason: But anyway, right here in the Triad, let’s just get down to business. Well, it is raining, so golf is kind of shot. And yard sale-ing? Hmmm. Hey, is that big old yard sale in Winston indoors?

JB: Yes, it is.

Jason: Alleluia.

JB: Education building over in Winston-Salem. The big I Heart Yard Sale. It just opened the doors four minutes ago.

Jason: There you go.

JB: Over a hundred vendors, so after you listen to Jason

Jason: That place, yes, head over. It is going to get bombed today because everybody that wanted to do the outside yard sale thing, that is where they are going to go. What is it like four bucks and some canned food to get in or something like that?

JB: Yes, and if you bring two canned foods, two cans of food, you get in for a dollar.

Jason: There you go.

JB: So it is a good deal.

Jason: That is a good deal.

JB: And a little free plug there.

Jason: That is right. Absolutely. Go check it out. Go check it out. Absolutely. And if you do not want to yard sale, it is the perfect day to go look at a house and buy one.

JB: Sounds like a winner to me.

Jason: Yeah, absolutely. They are out there. There are couple of signs in the yard in the Triad still let. So go check it out. We had actually, yesterday we had a golf tournament we participated in, the team, and was raising money for a team going to South Africa to do some ministry there. And just big hats off to Chris and the team at Bryant Park. We have done it two years in a row and it has rained both times, and I am like well, obviously we missed, we hit the wrong date on the calendar. But man, I tell you, those guys out there do a great job at Bryant Park. Go out there. See Chris and his team. They do, it was amazing. Even though it was wet, the course was in great shape. What I have found about golf and me, the nicer the course doesn’t necessarily change the result that I get.

JB: Isn’t it funny how that works?

Jason: Yeah, I have gone to play at some that were like, it was a tobacco field at one time. It still has shoots coming up in the fairway. Pretty much ended up with the same score. It did not really matter.

JB: I feel your pain.

Jason: But anyway, it was fun, and those guys did great, and we raised some money, which is always a good thing to do. So we got some great things happening around the globe. But right here in the Triad, we are going to dig in, last week we asked for hey, you have a question? Send it to us. Well, you did. So we have got like a boatload of them to go through today, JB. So let’s dig into a few of those. Get some questions answered. Anytime you have got a question, of course, you can call us at the radio station today. It is 882-7874. Or just go to the website, Jason Bramblett dot com. Shoot your question over, and hey, if it is radio-worthy, we will be happy to share it. I have been corrected many times. I do appreciate all the listeners that are keeping me straight, especially on the pronunciation of your town.

JB: Right.

Jason: Or whatever it is. But anyway, that is all good. Thank you very much. I will do, I will stay on task and do better when I am saying your name.

JB: There you go.

Jason: So let’s dig into some of these questions.

JB: All right. Sounds good. We appreciate everybody sending them in today. Let’s get started with one of the questions. It says dear Jason, we are considering selling our home. We have been there twenty-two years. Could you help us with some minimal upgrading suggestions, and it is signed Alice.

Jason: Okay. Absolutely. I would be happy to do that. Here is, not a lot of detail in there, Alice, but I did want to share this because sometimes people do not know what to ask. Right? That is one of the reasons why I chose this one to share today. It was not enough detail really for me to say yes, do this or do not do that.

JB: Well, you think about it, too, just being there twenty-two years a lot has changed.

Jason: Oh, for sure.

JB: You put all that stuff behind you once you get in, and after twenty-some years, it is kind of hey, what do we do now.

Jason: That is right.

JB: It is because as you have mentioned a lot of times, things have changed.

Jason: That is it.

JB: As far as in this selling houses and stuff.

Jason: Absolutely. And more than likely, the first thing we have got to do is just get rid of stuff.  After twenty-two years, most people are not

JB: De-clutter.

Jason: Yeah, most people are not minimalists. Yes. They like stuff. That is why we have, that is why, I have been in houses where I am like you have three outbuildings? Yeah, we ran out of room inside. Okay. And it is just stuff. Look around at how many mini storage places are being built in the Triad. It is almost like the drug store corner wars they used to have with the big-box drug stores. These things are popping up everywhere. I am thinking, my goodness, if I cannot have it on my property, on site, I do not need it. I have a friend of mine that he has got a rule. If he does not touch it in six months, it is gone.

JB: Is that right?

Jason: That is it. If it has not been used or touched in six months, we do not need it. It is out.

JB: Right.

Jason: But he is one of very, very few. Most everybody, let’s get another building to put our stuff in.

JB: Right. I hear you.

Jason: Anyway, the easiest thing for us to do is to do an onsite visit to come out and take a look because a picture is worth a thousand words. Well, a visual of us getting in the home to really look and see what you have to work with will help us as well. The biggest thing we want to do, she said minimal budget, and that is perfectly fine. We work with no budget. We work with unlimited budget, minimal budget. Whatever it is. Everybody has one, and what we want to do is make sure we put the money in the right place. We have had many people call to have us come out after they watched some show or whatever it is they did. Went to some seminar thing, and they had a thirty-five-hundred-dollar budget, and so what they did is they put granite countertops in. And then the rest of the house is just shot. There is no more budget. Was it wrong? Probably, because we could have stretched that money is so many different places that needed some love and help.

JB: Right.

Jason: As opposed to just putting a rock in the kitchen essentially. There are many things that you can spend the money in the wrong place unfortunately. The other thing I have seen is folks that put their budget in things that probably did not matter. Then they had to go cheat on some stuff like do it yourself, and one of the things that they typically do, because for most people, they do not think there is a lot of skill involved with it, is painting. We spent all this money on this stuff, but then we ran out of money. We could not afford professional painters, so we did it ourselves. And yep, it sure does look like you did. So unfortunately, that is not going to help raise the bar. The worst thing in the world is to go in a house that is freshly smeared with paint and to tell them that you are just going to have to do it over because you did not even prep the wall. Or you should have sanded down the little dent that is sticking out. Now the shadow is there, and it actually looks worse. So those are things that are frustrating to a homeowner when somebody like us comes in and says well, it is paint, but wrong place, wrong type, did not, just not doing it right. Okay. So we want to spend the money in the right place. We might go in there and say we can do simple. Simple can be anything from just clean and declutter to tearing out walls if we have to. And we have done it all. Now, I do not want you to think we are coming over and say tear out the wall. But sometimes we have made changes when people’s budget was there to do it, and it made sense. And what we look at is what makes sense. What is going to get you the most return on your dollar? Now, most of you want to make money from this stuff.

JB: That is right.

Jason: And you do not get one hundred percent back typically. So if you spend ten thousand dollars in the kitchen, you are probably only going to see about six to eight thousand, and eight probably being the maximum return. So you are going to leave some money on the table. But it could be the difference between selling and not selling.

JB: Right.

Jason: It could be the difference between a low-ball offer, something that nobody will consider. But regardless of the situation, we want to do a walk-through. You can even send us some pictures if you want. But really, the best thing for us to do is to come out to the house. Talk to you about what we have got going on and walk through the property and check it out. Hopefully, Alice that answered question in about three rabbit trails I went on.

JB: That is okay. It all works.

Jason: That is right.

JB: All right. We have got another question, and it is from Dale. We were just talking about painting. This is a great question too because he writes in and says dear Jason, I have heard your show and the suggestions you make. We are going to paint, and we are going to get the house ready for sale. What color do you suggest because we do not want to make a mistake? From Dale. Good question, Dale.

Jason: Dale, it is a good question, and thank you for listening to the show. I do appreciate that. I have several of you that thank me each week, and give me some advice, and I appreciate that. I get some texts and emails and voicemails at the office sometimes. You can leave a voicemail today if you like. It is 553-0796 if you want to tell me how awesome of a show we had. The other part, call JB, I will give you his number.

JB: Yeah, right.

Jason: Look Dale, gray tones are definitely in right now, and so, when you go to sell, you want to appeal to the masses, right? You want to appeal to as many people as you can. A lot of time what we do is we need to take some of the personal flair out of your house. So if your dining room, your wife or you or whoever, loved blackberry plum paint, that may not appeal to everybody. So we might want to neutralize some areas. Dale said we are going to paint, so hopefully, I do not know if that is him personally, but as I have previously said, if you do not know how to do it, and believe me, just applying the product to the wall does not make you a painter.

JB: Right.

Jason: And a good painter is worth the money. I promise you. We have got some of the best, I think, in the Triad right here. Just amazing guys. I had an old home that I was remodeling in downtown Greensboro, and normally, I would be like just go in there and paint it, right?

JB: Right.

Jason: This is a long time ago. This is when I, the ah-ha moment went, because I was just like come on, it is just paint. They sell it at Home Depot or Lowe’s or whatever. I can go get it and do it. And I had done that before in some of our houses. This crew was there for two days before they ever applied a brush to the wall. Just prepping it. Just getting all the imperfections off the wall that I would have just rolled right over. Right?

JB: Right.

Jason: And when it was done, oh man, it was lights out awesome. The difference, and that is the last time I ever painted. That was it. I am sold. It was absolutely amazing.

JB: It was done right.

Jason: It was done right. Absolutely. The result, we sold the house in the first week. People went in and were like woah because they did awesome. Color-wise, gray tones, again, are what people are leaning to. You want to neutralize the house as much as you can. I highly suggest in investing in a professional painter. It is worth the investment. I know some of you can paint, and that is okay. You hopefully know who you are. But if you need someone to tell you, have me come over, do a test wall. I will tell you if it is good enough, all right? Before you do the whole house.

JB: Right.

Jason: That is the worst thing in the world. I just finished painting the whole house. Yeah, it is not good. Anyway, again, what we want to do, like in a situation with Dale or with Alice, where we have got maybe a house that has got a little age on it, and we are going to freshen stuff up, we want to get the right mix of new and old because it can be not so good sometimes. Right?

JB: Right.

Jason: And so you want to blend it right. The ladies will know what I am talking about. It is like when you are walking down the street, and you see this amazing guy walking ahead of you, right? He is dressed perfectly, physically in shape, everything is like good. And you get a little closer and he turns around and you are like holy smokes! What just happened? Right?

JB: Right.

Jason: It is not what you thought from a distance. Right?

JB: Right.

Jason: That is what we do not want your house to be like. And everybody has been there. Right? Ladies, you know what I am talking about, right?

JB: You are talking about bad skin and buck teeth, right? Something like that.

Jason: Yeah, something like that. Right. Exactly. You are just like that is not what, that is what we do not want to happen, we do not want that shock and awe with your house. Right?

JB: Exactly.

Jason: So anyway, we are just having fun. Look. We are going to go pay some bills. You guys stay tuned. You can give us a call at 882-7874. We will be back in a minute with your questions.

JB: All right.

Jason: And my answers.

JB: There you go. Stay with us folks. We will be right back on Real Estate 911 with your host Jason Bramblett (in/out music) And welcome back to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and we have got a lot of folks writing in some questions. You want to get back into them there, Jason?

Jason: Let’s do that, please. Yes, sir.

JB: We have got Jesse asking about selling but cannot find the right house. Jesse writes in Jason, we have outgrown our starter house. Everything is selling pretty quick in our area, and we cannot find a house that we like. Can we sell and then rent our house until we find something? Would you consider that even an option? And once again, signed Jesse.

Jason: Okay. Well, we are hearing a lot of this now.

JB: Really?

Jason: About every week, and simply because the market is, it has tightened up. The inventory, there was a time when, and it is not that long ago, like within twenty-four months maybe, less. You could look at a home in the two-hundred-thousand range, and you could go look at sixty. It was just, there was no end. They were like daisies. They were just popping up everywhere, every day, all the time. And now, not so much. Stuff is really pretty tight in some price ranges. Inventories went up just a little this month, which we anticipate. It is the end of school and you are getting into that summer, spring/summer mid-term, if you will.

JB: Right.

Jason: But it is something we are hearing where people are little bit nervous to pull the trigger because they just do not see the choices that they have seen for the past few years. Most people that are selling their home, they just do not wake up one day, unless it is a job transfer or something like that. They do not wake up one day and say ooo, I think we are going to sell. They have been on the internet for a year kind of looking. Now they have maybe got a little more serious, and now they are looking like woah, where did everything go? Where are all the houses at? You could certainly, everything is in for negotiation, Jesse, and you could certainly negotiate a rent back. And some of that is going to depend on the price of your house and the buyer. There are certain types of loans that will not allow you to, will not allow a buyer to not move in within a certain amount of time. FHA and VA and a lot of these government-assisted loans, the buyer has to take possession within a certain period of time. And the reason they do that is because otherwise, they would have investors utilizing these loans as supposed first-time homebuyers, and the benefit of those types of loans are for first-time homebuyers, not for investors to take advantage of so they can put little to no money down.

JB: Right.

Jason: Most banks want an investor to put about twenty percent down, and so because there is a risk associated with it, and they know that an empty house that you do not live in versus the one that you are living in, if you had a choice to stop paying on one of them, it is probably going to be the empty one, the rental, not the one that you are in.

JB: Right. Right.

Jason: Therefore, they would like more of your money to ensure that it is a harder choice to make. Still probably going to make the same choice, but the other thing, too, if you have twenty percent equity in it, you could probably sell it. Most real estate markets are probably not going to drop twenty percent in value in a short amount of time. You may still lose money, but you can at least get out of the house. Those are some options. We have had, Jesse, we have had owners do many different types of things. We have got some relationships with some apartment communities in the area that have as little as a ninety-day rental. To do a short-term rental, if that gave you a little more security.

JB: Right.

Jason: Here is what I know. You are not going to be homeless out there on the street, on the corner. Now there is the inconvenience of moving twice.

JB: Right.

Jason: And that is just, well, that is just life unfortunately. It is difficult to do it when there is lots of choice to go from house A to house B with no overlap, without having to do something temporary for some party involved in the transaction. Now, you take away a lot of inventory, and it almost becomes inevitable that you are going to have to look at temporary housing. And most people do not want to do that because well, your stuff gets moved twice, it gets dinged up twice sometimes. So it is tough. You could also do a couple of other things. We have folks that have stayed in just like the Extended Stay hotel type of thing. If it was thirty or forty-five days, it may be less expensive to look at that option. Put your stuff in PODS. They can be secured in a climate-controlled building. You go to the Extended Stay, and then when you can move into the house or when you find a house, everything gets delivered, and it did not get unpacked. So hopefully there is going to be less damage on anything that you have. We actually had one of our past sellers that did this. She could not find a property. She went to Extended Stay, and she ended up staying there for a couple of months. She was like this is not bad. It was hilarious. I would check in with her and I am like do you want to go look at anything? No, I’m good. I am going to go do some water volleyball or something. Whatever.

JB: There you go.

Jason: And we have had the same with some of our clients that have done the short-term apartment lease, especially in the summertime. It is hilarious. Sometimes we will sell their house and they are building one and it is not done. They have three or four months. So they will go to one of our apartment communities and stay, and it is like being on vacation because they do not have to do yardwork. They can go to the pool everyday with the kids. They are like, this is not bad. This is the life. But then, of course, temporarily it works.

JB: Right.

Jason: Then the people stomping above you and all that kind of gets old after a while. But anyway, there are definitely some options out there. You do not have to feel nervous or scared about selling your home. I am confident we can find you something and we can also help you with something temporarily. Either way. So hopefully, that answered your question.

JB: Well, Jason, we have just got a minute or two left, but I have heard some pretty exciting news about a new division of Jason Bramblett Real Estate. Tell us about what is going on.

Jason: Yeah, so we are getting ready, we are not getting ready. We have. We have launched our luxury home division, so we are, it is basically a concierge-type service. So if you are I do not want to touch it. I do not want to deal with it. I do not want to make any decisions. Just take it over and get my house sold, then that is pretty much what we have got. So if you can imagine, you have been to, maybe if it was your honeymoon and or just a nice vacation and you went to that amazing hotel, and from the time you walked in, it was just like wow. That is what we have created. So we want that brand that we have within the company. This is our most seasoned real estate folks that are going to walk you through that. It is just a need that we have run into. We have run into a lot of folks where they are just like I do not want to make any decisions. It is like the all-inclusive vacation, right?

JB: Exactly.

Jason: It does not even matter. Everything is included. You do not even have to think about price. You set that up front, and if you want nineteen pizzas or no pizzas, it does not matter.

JB: Right.

Jason: It is just done. So that is what we have created within the brand, the JBRE Luxury Homes Division that we have. So we will have the website up where you can link to that and get more information. You can go to Jason Bramblett dot com. Shoot an email if you have got a question about it, but also if you have any questions you would like to for us share here on the radio for all of our listeners. Everybody have a good weekend. Be safe. Do not forget about the Winston-Salem yard sale. Indoors, by the way, and raise money for a great cause. We will be back here next week. Everybody have an awesome, awesome weekend. Stay dry.

 

JB: Thanks a lot. Great show.

Posted in Radio Show
May 12, 2018

05122018

Listen to the Podcast   JBRE Real Estate Radio 

 

JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and for the next half hour, we are going to be talking all things real estate. We invite you to join in on the conversation if you have a question or comment for Jason this morning. We are live in the studio. So, give us a call. 336-553-0796. That is 553-0796.  And we welcome to the microphone the man who has got his name on the show. Mr. Jason Bramblett. Good morning.

Jason: Good morning. Good morning.  

JB: How are you?

Jason: The key word today is pollen.

JB: Yes.

Jason: It is out there.

JB: Lots of it.

Jason: And it is rough.

JB: Yeah, it is.

Jason: It is rough. So, I have got Brad here with me. You guys know Brad Firestine. He has been on the show a couple of times because I do not know how long the old voice is going to last, and dead air, well, dead air may be as good as listening to me. I do not know.

JB: No, no, no.

Brad: I know you were in New York City last week, so I thought maybe you were breathing in too much taxicab exhaust or something like that.

Jason: That, that, it is a little hazy up there. It is a little hazy. Not as bad as some of the places I have been, but there is definitely a little hue of diesel fuel floating in the air for sure. But we have got Brad here to help me out as a good wing man does. Of course, JB here as well. So, we are going to dig into your question this week. All the things that pertain to buying a home. Actually, this week is kind of the topic we are going to hit. Well, from some of the emails, we are having some struggles out there. So, we are going to see if we can help you through that. How do you deal with these rising interest rates? How do they affect you? Where should I be getting preapproved? Where is the best rate? Those type of things. And then of course, is it important? Should I have a real estate agent working with me?

JB: Right.

Jason: And so, we are going to dig into is that smart? Should you do it all by yourself? Do you need a professional? We are going to kind of lay out some of the pros and cons there. And then, of course, with market transitions, everything kind of gets interesting. Fast pace, well sometimes mistakes get made. The quicker things go, and you hear the highway patrol reports? Speed was a factor?

JB: Yep.

Jason: Well, it kind of works that way in real estate. Speed was a factor, and sometimes those mistakes you do not feel them for a few years. And we are going to talk a little bit about that. Lots of things happening today. You can give us a call. We are live in the studio. 882-7874, and always you can go to Jason Bramblett dot com and shoot us your questions.

JB: Okay, well let’s get started. Speaking of questions, how about an email?

Jason: Let’s do it. Yes, sir.

JB: All right. Let’s jump into the first question here. It says, dear mister, by the way this is from Pat, Mr. Bramblett, we have made three offers on three different homes with three different agents, and we have lost every time. You have heard that one before, I bet.

Jason: Oh yes.

JB: Well, none of the agents worked with you. However, we have a meeting in your office with Dave this week. The homes are going above asking price. We have limited cash, and we are not able to offer as much or better than others. What can we do to win a bid and get into a home? Signed a frustrated Pat.

Jason: Frustrated Pat is out there for sure. It is Pat. It is Susan. It is Jim. It is John. It is a lot of people right now are frustrated because of the tight inventory. And unfortunately, the banks do not necessarily tend to line up with the market sometimes and where these appraisals go. So, we have people that are willing to pay maybe more than asking price, but because they have to get a loan, the bank has to agree to that. Well, since 2006 happened, they still have a pretty good memory about that.

JB: They sure do.

Jason: So, they are reeling those numbers back. So, we feel your pain. We know about this frustration. We hear it all the time. Here is what we have found. Most agents do not listen, and this is really a key thing, Pat, so they really just open doors, right, and fill out paperwork. You need to get with a professional that is going to be in there and is actually going to truly guide you through the process. They are going to listen intently. They are going to make notes. They are going to help you through your frustrations. It sounds like you have potentially either worked with agents that may have the listing and or agents that are just filling out paperwork, okay, and they are not digging into what is the issue. Because you should not have swung three times and missed all three times. Right?

JB: Right. Right.

Jason: It simply just should not be that way. The good thing is our team here, they are trained to help you. They are trained to help you get out of this frustration that you are in and get to some resolution, which is owning a home. That was the goal, right? That is what you wanted to do. That is why you have made these offers. We just helped someone just like you, Pat, and they are now in their newly-constructed dream home. Of course, they are sipping on coffee this morning listening to the show as any good, smart, wise person in the Triad would do. Right?

JB: Right.

Jason: Absolutely.  But new construction can be a way in which to overcome some of these bidding wars. There is no bidding war on air. If the house hasn’t even been, if there is no dream of the house, it is just a vacant piece of dirt, there is no competition there for you, and you can make some choices. Now, the timeline may not work. There are other factors in there. But if you are tired of getting, maybe you are kind of frustrated with the competition of a resale home, new construction is something to look at. There is not a lot, there is not going to be any real competition in building on a lot, and you have got the time to make the decisions and do that. There are a couple of other things you can do as well.

Brad: That is a great point. Especially in new construction because you get a lot of options in new construction. You get the option of picking out the right cabinets for you. Picking out the flooring. Picking out things that are maybe important to you that you are not going to find in a pre-owned home.

Jason: The good thing about new construction is they actually will let you pick out and screw up your colors.

Brad: Right? Exactly.

Jason: You can pick the wrong carpet, and they do not care because you are going to live there, right? We always get that from the sellers. I do not want to put new carpet in because I might make the wrong choice. I can assure you that your shag carpet is not what they are looking for. Any choice that you make will be better than this one. And at the same time, it is the same with the paint colors. Right?

Brad: Right.

Jason: It is interesting. New construction I have found in a situation like this can be a good avenue to go. But there are also other types of real estate that you can look at too.

Brad: Right. Right. Pat, you can look at some other options. One other option is to look at some of the overlooked homes. So, most homes fall off the radar after around sixty days, and that is something as a buyer’s agent, you can instruct your buyer’s agent to actually go back in time and say hey, let’s look at some of these older homes that have fallen off the radar, and let’s just take another look at them. You can go back through all the sixty-plus-days-on-the-market-homes. We have found that our clients, we have found them some real gems in some of the older inventory.

Jason: Right.

Brad: So, you might consider that as one of the needs, and many homes have great structure. They have great bones. They just need a little work. They just need a little touch-up, and if that is something you are willing to do, you can find a real gem in the rough.

Jason: Yes. Absolutely. A little paint, a little carpet, those types of things may not be, well, it is kind of like going to the new construction, right? You are going to pick the paint. You are going to pick the carpet, the tile, the whatever. Well, you can do that in a resale house as well. There could be some more differences, and you might have to have some more cash to outlay down the road to put those things in there. However, it is an option. One thing, too, it is interesting. With the speed of the internet, and we operate sometimes under these assumptions that I created a search on this website, I put in my criteria, and the first day I was really, really excited. And so, there were two hundred houses for sale, and I went through all two hundred, and I narrowed it down to my three or four. I went and looked at those, and they did not work out. So now all I am doing is I am going and looking at what is new. Because in my mind, I have eliminated those other two hundred.

Brad: Right.

Jason: Well, you probably did it so quick you missed some really decent, quality homes in there.

Brad: Exactly.

Jason: The days on the market can kind of be a detriment in that there can be a really, really nice home out there for you, but you have discounted it thinking well, I have already pushed all those to the side. Now, I am just going to watch and see what comes up every day on the market.

Brad: What comes up and pops up every day.

Jason: And this is part of the reason that we also have this little bidding war going on on some properties because that is what everybody is doing. Everybody is just like forget all these ones that have been on the market for sixty days. It did not work for whatever reason. Even though you did not go in it, you discounted it for some reason, and now all you are watching is the new stuff. But so are a hundred other people in the same price range, and this is why we are having some of this artificially inflated real estate market. Technology is actually kicking our tail in that way.

Brad: Right.

Jason: It goes back to you have to have the guidance of somebody that can walk you through the process and having a professional there that can listen. Because you should not know how to do this as well as us. You do this once every ten years. We do this hundreds and hundreds and hundreds of times a day for our clients.

Brad: Exactly.

Jason: We certainly should know a lot more about how the process is, where to go find the houses, where to kind of really shake the bushes, if you will. Really it is the bushes that are right out there in front of us. It is just we have got that instant microwave hey, I have already checked that out; now I am moving onto the next thing or moving on to another website or whatever the case may be. Or the presumption is that house has been on the market for sixty-three days. Everything I hear on the news. It is a fast-paced market. The good houses are selling and dah, dah, dah. And you presume that it is a bad house just because it has been on the market for sixty-three days. Well, maybe it was under contract once, and it fell out of contract because the buyer could not get a loan, and it tied it up for thirty or forty-five days. So, it was actually on the market for ten, and then it was off for forty-five, and now you are sitting at fifty-five days. You have discounted it thinking something is wrong with house. There was actually something wrong with the buyer.

Brad: Right.

Jason: But the days on the market have creeped up because of that. Because it does not start back over today at six. Every day counts in real estate, even when it is under contract. There could be a lot of behind-the-scenes numbers that you do not really factor in. There is nothing wrong with that house, right?

Brad: Right. And you will see that on the listings. When it gets relisted, you will see that from the listing agent. House is back on market. No fault of the seller.

Jason: That is right. Yeah, that means it was the fault of the listing agent that talked them into taking the offer that they did not have an approved buyer. Oh, was that out loud? I am sorry. My bad. My bad. That is called doing your due diligence, guys. You have got to dig in there, and sometimes there are circumstances that happen. I have had clients pass away before the closing. I have had people lose their jobs. I have had circumstances that everything under the sun, and sometimes, it is just not preventable. If you are not here, you cannot buy the house, right? That has happened before.

Brad: Right.

Jason: But only like twice in twenty years, so that is not too terrible. But it should not be happening all the time, and most of the time it comes down to somebody did not do enough due diligence to really press in and make sure can this person do exactly what they said they can do to buy this house? And they did not find out for thirty-four days. Or the house does not appraise. That is another issue we are seeing right now. Where we have these lovely little bidding wars going on, and some of these houses are getting pushed up, the price is getting pushed up so high that the bank is pulling back and saying no, we are not getting, we are not going there. Well, if the buyer does not have the cash money to make up the difference, there are three things that can happen to this. The seller can come down in price. The buyer could pay the difference in cash or the deal blows up. I guess you could meet in the middle or whatever. But typically, one of those three things is going to happen. Most of the time, depending on the price range, the deal is going to fall apart because the buyer cannot come up with the money. They cannot. It is a due diligence thing. Did the agent vet out the buyer to make sure they had the cash to go over the asking price so we did not run into this issue?

Brad: Right.

Jason: A lot of times, what I find is, no, we had our fingers crossed.

Brad: Yeah, that is about it. On both sides. On both sides. On the listing agent’s side and even on the buyer’s agent side because everybody is crossing their fingers going I hope this appraises.

Jason: Yeah, exactly. Like it is some mystical number that is coming down from Zeus or something. It is numbers. It is not that difficult. Let’s do this, JB. Let’s take a quick time out. We are going to go pay some bills. You guys can give us a call. It is 882-7874. And, of course, you can go to Jason Bramblett dot com. Shoot us over any questions you have, and we will answer them right there on the air next week.

JB: All right. Stay with us, folks. You are listening to Real Estate 911 with your host Jason Bramblett. We will be right back. (in/out music)

Jason: Welcome back to Triad Real Estate 911. I am Jason Bramblett, your host. You can give us a call. It is 882-7874 here in the studio. So, we have been kind of digging into the buyer pitfalls of real estate right now in this seller’s market that we are in. But I wanted to dig into a couple of other things, Brad. Let’s discuss another issue that we are seeing that kind of affects both sides, but it is kind of affecting more owners or sellers or want to be seller than anybody else.  It is the folks that want to downsize, but they have to sell first. It is a real fear out there that hey, I really feel like my house is going to sell, and then I am not going to have anywhere to go.

Brad: Right.

Jason: What am I going to do? This could be somebody moving up in price as well. I know I think you have got somebody in that situation where they have got a home and they want to upsize, and they are very confident, and I think that we are very confident that the house is going to sell, but they are not really seeing anything on the other side that is exciting to them yet.

Brad: Yeah, it happens all the time. I do. I have a situation where I have someone that has a home that is somewhat right in the sweet spot. We call it within our office the sweet spot. It is in that range where we know when that home goes on the market, it is going to get sold within days.

Jason: Right.

Brad: So, the problem is we have to find some place for these people to live when that home sells. It has become kind of a, it is a stumbling block because they want to upsize, but they are not able to find the right home. It is taking time. Seriously, I have been working with these people for probably about eight, ten months now.

Jason: Yeah. They have got a real specific property they want in an area in which that specific property really is not, does not show its head up there every now and then. So, we have got some interesting qualifications there. But one thing you can do in these types of situations is you can always negotiate a longer period of time in which you do not close for sixty days.

Brad: That is exactly it.

Jason: You can also negotiate in that the seller has the right to occupy the house for a certain amount of time until they find another property.

Brad: Right.

Jason: So, you do not have to just be out the day of closing. You do if you do not negotiate it right.

Brad: Right. Right.

Jason: But that is type of thing that is, you have got to know the right things to ask of the client to pull that information out. What is important, right? We make sure that we are digging into those things. I actually have not left anybody homeless in twenty years, which is really good. I will say, too, there are also people, their search criteria is not like I want to move to Motel 6 until I find the right place either.

Brad: Right.

Jason: They really kind of go from Point A to Point B.

Brad: They tell you in real estate school everything is negotiable.

Jason: That is it.

Brad: There are always ways around

Jason: Let’s take a quick call. We have got Jen in High Point joining us. Jen, how can we help you today?

Jen: So, I have a question for, a buyer like Pat is looking for I do not know what her criteria might be. But say I have a home. It may be a little bit older. What would be the most cost-effective ways I could update my home to be more appealing to someone like Pat who, if it does not have all the bells and whistles of a new construction home? What are the best ways I can spend my money in order to make my home appealing to her?

Jason: Sure. Does it have wallpaper?

Jen: No. No wallpaper.

Jason: Well, okay. That would have been the first thing because that would have been a dead looser right there for sure. What color, what type of cabinets do you have in your kitchen?

Jen: They are white.

Jason: They are white.

Jen: With nickel knobs on them.

Jason: That is perfect. Okay. Paint colors? Multiple different colors throughout the house? Or just one thing?

Jen: Well, it is mostly gray everywhere except for a couple of places. Some rooms we are planning on redoing just because we need to. It is mostly gray on the inside, which I guess is a popular color right now. I am thinking of changing it because I find it a little bit cold. But I do not know if I should do that because maybe that is not a popular idea.

Jason: Gray is definitely in. I would probably stick with it. So far, Jen, your house does not sound that outdated. So where is the problem in your mind?

Jen: The kitchen is a little on the small side and we have an issue with a bathroom where it is very tiny. The one downstairs is very tiny. It needs to be updated, I think. Also, we are lacking curb appeal in some areas. So, we recently put on a new roof, and we have ordered new shutters, and we are having new gutters put on. Are those good ways to spend our money in order to attract people?

Jason: That will definitely attract folks. If you do not mind me asking what do you think price range your house is in?

Jen: Oh, one to one-forty.

Jason: Oh, that is perfect. Yeah, a new roof is like gold in that price range because now you have really given those folks a good hopefully fifteen, twenty, maybe even thirty years of

Jen: Exactly.

Jason: Yeah, that they, one less thing to worry about. Those big-ticket items in that price range is something that really does scare folks. Curb appeal. I will tell you this. If you go watch any of the house flipping shows or you just do research on that, one thing that we typically see with an older home is the landscaping ridiculously too mature.

Jen: Okay.

Jason: Instead of holly bushes, you have holly trees. Right?

Jen: Right.

Jason: And so, the landscaping looks like it ate the house. The most common thing you will notice in all the house-flipping shows is they rip out all the landscaping and they go back with very simple three and five-gallon plants.

Jen: True.

Jason: It will make your home appear much, much bigger. It really updates the house tremendously. That is something you could take a look at. I do not know about the ripping out part, but a lot of that you really could do yourself. Of course, if you ever need a reference on a landscape company, we can definitely help you out there as well. I say the white cabinets is not a big deal. Countertops. What do you have?

Jen: Well, they are blue Formica, so I think we need to do something about that. And the backsplash matches the countertops. I am thinking we are going to have to do something about that because it is pretty outdated.

Jason: Gotcha. So there are several, granite has really come down in price. That is something you could take a look at. There are lots of great colors that go with white in the granite. Quartz is another one you could look at. Granite is probably a little bit cheaper, but just know that some of these things that you have done is just going to help you get the house sold. Unfortunately, there is not a real return on investment there. So, watch your equity and cash flow and stuff like that.

Jen: Right.

Jason: Now landscaping is pretty good return. You are probably looking at sixty to seventy percent of what you would spend you would get back. The granite countertops. It really will not get you anything. They have just become so common these days.

Jen: Right. That makes sense.

Jason: But it is also something that is a pretty simple fix. You are definitely on the right track. The roof was a great move in that price range, and I would just say I think you are right on the right track there for sure.

Jen: Great. Thanks. I appreciate it.

Jason: Yeah, absolutely. Enjoy the rest of your weekend, and Happy Mother’s Day if that applies.

Jen: Yes, it does. Thank you very much.

Jason: You betcha. Thanks so much. So, Jen brings up great, great points. It was good to ask the questions. We just talked about asking the right questions. She is asking all the right questions. And we could come out if you would like and we can walk through the house and even give you some more tips. Visually, we did really well on radio to describe the house, I must say. You have got a radio quality there, Jen. You maybe should be a guest to come on. But it is something that is difficult for a lot of folks to do is to visualize. I did not realize this. I have done a lot of studying on visualization for real estate. Only about ten percent of the people in the world can visualize how furniture will look like in a room, what different paint colors will be. You actually have to get there, you have to do it. That is why staging is important. All these things are key.

Brad: I am not in that ten percent.

Jason: You are not in that ten percent? Gotcha. You are just like it is what it is. That is all I can see is this right here.

Brad: In this room, will my couch fit?

 

Jason: Yeah. Gotcha. And hopefully so. Right? Hopefully so. Those are things where we can come in and help. We have some really cool tools that can help you figure out what stuff looks like. Staging rooms. Painting rooms. All those types of things. But it is all exciting, and this time of year, things are moving quick. But be cautious on moving fast. Remember, speed is always a key factor in most accidents on the highway and in real estate. Okay? Slow down. I know things, you feel like you might lose something, but take it from me, slow down. It is going to be okay. There is another house out there for you. We will be back here next week right here live on the radio. You can go to Jason Bramblett dot com and get more information there.

Posted in Radio Show
May 5, 2018

05052018

 

 

 

JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and for the next half hour we are going to be talking all things real estate. Well, we have got a little change of plans today. Of course, Jason Bramblett is usually here every Saturday. But Jason is out on assignment I guess you could say. So, sitting in for Jason is Brad Firestine.

Brad: No. Firestine.

JB: Firestine. I got it right after the second try. Sorry about that. But, of course, you have heard Brad here on the show a lot with Jason. And also one of the brokers with Jason’s firm, Dave Held is on the show today with Caliber Home Loans. Hey guys, the cat is away, so the mice will place today. Right?

Dave: That is right.

JB: We welcome you both to the show.

Dave: Thank you very much.

Brad: Good morning.

JB: What are we going to talk about today? What is going to happen?

Brad: Well, we have Dave in the studio here today, and obviously, he is with Caliber Home Loans, and I do have to put a little legalese just to mention that Dave has an MLS number, and it is 88989.

Dave: Thank you, Brad. So now we get to talk to Dave.

JB: So now we are official, right?

Dave: Yes, we are official.

Brad: We are official. We are going to be discussing some things to do with mortgage lending and some of the experiences that I have had as a buyer’s agent through Jason Bramblett Real Estate. Jason is actually in New York today getting some knowledge from, I guess, over two hundred and fifty of the best people in the real estate industry, and he is going to be bringing all that information back to help all of us here in the Triad in everything real estate, which is great. I am actually a buyer’s agent with Jason Bramblett Real Estate. And in our firm, we actually separate representing the buyer from representing the seller. So, we have buyer’s agents and we also have seller, or I should say, listing agents who represent the seller. We do this because we want to make sure that the people that we are representing get everything they deserve from either side of the transaction. So, we make sure that there are no secrets that can be crossed to benefit one or the other. We do not want to create that conflict of interest. We just want to make sure that everyone’s personal and confidential information is kept that way. As a buyer’s agent, we always kind of want to stress to our clients to make sure that they have done the most important thing in a real estate transaction is to either find out if they are going to finance or if they are going to pay cash, and we usually ask that question up front. When I talk to somebody and say hmmm, how do you plan on paying for this home? Are you going to pay cash? And they usually go oh, ho, ho, ho, ho, cash? I wish. That is always the reaction.

JB: People deal in cash these days? I mean, really.

Brad: Every once in a while, I do get somebody who will say yeah, I am paying cash, and I just about fall on the floor. I am like wow, okay. I wish I could pay cash. But they usually say, yeah, no, I am planning on financing. And I ask if they have been pre-qualified or if they have talked to a mortgage lender, and nine times out of ten, they say, no I have not. But it is actually the most important step. It is probably, I think it seems to be one of the scariest steps in the real estate transaction. Dave, why do you think that is?

Dave: Well, from my perspective, they are anxious to speak with a real estate agent because the real estate agent is the key to the home, which is the tangible that they want to take away from this. Speaking with the mortgage person is less appealing because they realize we are going to ask a lot of personal questions, we are going to dig in, and then we are going to need them to gather up some docs for us and send them over. It is not as fun, and some people have a fear of rejection. So, if they have a little bit of doubt that they might not qualify, for some reason, they shelf that, and they want to go see the house anyway.

Brad: Right.

Dave: But you are very right. If they do not have the cash, then we really do need to have a conversation for a number of reasons. One, we want to know that they qualify, but also, what options do they have. What do these payments look like? How much money do they need to make this transaction happen? We want to put them in a payment that is comfortable for their life. I do not really want to create house-poor borrowers, and we cannot do that if we do not exercise good diligence. There are a lot of reasons why they should talk about financing before they get too far down the road.

Brad: Right. I have been in the situation, experience where someone will call me, and usually this is the way it goes, and they say hey, I am interested in this house on 123 Main Street. Can you go out and show it to me? I am like sure, sure. Not a problem. We have a conversation. I go out there. They love the house. I am like the next thing you have got to do is call Dave. I call you. Guess what? They do not qualify to get that home. So, then there is a disappointment. So that home may be at a certain price point, but they only qualify for half of that. It is better to do the due diligence up front and find out exactly what you can purchase and what you can look for rather than getting disappointed after you find the house of your dreams.

Dave: Yeah. Yeah.

JB: It can be a disappointment, too, because in one way, it might be kind of a wakeup call. Hey, this is what we have got to get our house in order, no pun intended, before we go to this next step. Actually, it could be kind of a helpful thing for them, and they can come back and see you in a little bit.

Dave: There are times when it is very disappointing. When it is, you have folks that have their eyes set on a certain price point, and then when I dig in and work on it, and we are way out of ballpark, and man, the disappointment in their voice whenever I am talking to them about it afterwards, I feel bad. Of course, I did not create the situation, but I do feel bad. Who wants to see people disappointed?

JB: Right.

Brad: Right.

JB: And again, maybe it could be a wakeup call, and they did not realize that they were kind of in this boat, and now they know what they need to do to correct this and move onto the next level.

Dave: Right.

Brad: Right. I think there is also kind of a misconception, too. They may have known somebody who had a bad experience with a previous mortgage or something along the line where they are going to be scared to go that extra step. But it really is not that big of a deal. It really is not. They will talk to you. Why don’t you kind of explain, maybe a little bit, of the moment I call you up and say Dave, I am thinking about buying a home, and I want to find out about getting a loan.

Dave: That is often how the conversation starts. From there, I just start to ask some discovery questions. I want to get a feel for where they think they want to live, what type of price point they are interested in, what kind of payment is appealing to them, and what kind of cash do they want to invest in making this happen. So those are some of my first questions so that we can have a talk about where we are trying to get to. I am going to ask their permission to go ahead and ask some real personal information. I can do this over the phone in less than ten minutes with somebody. I need to know who you are, where you live, who you work for, how much you earn, and what you are working with in your assets. Your bank accounts, your retirement funds, whatever they may be. I can then hang up the phone, work on that, prepare some scenarios, contact them back in say thirty to forty-five minutes if I am uninterrupted, which is kind of a joke, but reach back out to them and we can talk about some scenarios. Sometimes folks are a little more complicated than that, and they might be self-employed, or a large portion of their income comes from commissions or something that is variable, and in that case, I am more than likely going to ask for some income documents so that I can figure out exactly what is their qualifying income. I might want to see two years of tax returns and some paystubs so then I can do some math myself and make sure that we are not setting ourselves up for disappointment.

Brad: Right. It simply starts with a ten-minute conversation.

Dave: It starts with a short conversation. I do not bite.

Brad: Right. Right. But after that, after things are going along smoothly, things are starting to, everything is going to, the client wants to move forward. Seriously, how much time does the client really need to invest initially in getting their information to you?

Dave: I guess it would depend on how organized they are, but it is not that much that we need. Generally speaking, you are needing your most recent paystub, possibly some W2’s or tax returns for two years, two months of bank statements, copy of their ID. Some people are certainly much more complicated than others, but generally speaking, that is it. We need the income and assets. I am already going to have the credit report by that point in time if I have their permission to obtain it. So, I can see the debts. I do not have to put them through chasing a bunch of stuff down. It is really quite easy.

Brad: Basically, probably within an hour

Dave: I would say less.

Brad: Less than an hour’s worth of your own time just to get that information together. And I cannot tell you how many times I have been dealing with buyers and oh my gosh, I cannot do this for you. You have to get all this information out to Dave or whoever your mortgage lender is just to find out if we are going to be able go through with this transaction. I do not know why it just seems so hard.

Dave: Some folks are daunted by it, but it is really not very big. I try to lighten it and help them understand that look, if you just help me here for a few minutes, I will take it from here. It is on me.

JB: Hey guys, let me just jump in here and remind everybody you are listening to Triad Real Estate 911 with your host Jason Bramblett. Brad and Dave are in for Jason today, and if you want to join our conversation or maybe you have a question for Brad and Dave and something you hear, and you have a question, we are live in the studio. Give use a call, 336-882-7874, 336-882-7874 if you want to join the conversation or if Brad and Dave can answer a question for you.

Brad: I also should, because I imagine Jason is listening to the show through I Heart Radio right now.

JB: He is sleeping right now.

Brad: You think so?

JB: He might be.

Brad: Oh yeah, right. He does not sleep. He is in the office at like four in the morning.

JB: Oh he is listening probably. He will text you later or something.

Brad: But if you have any questions for us as far as Jason Bramblett, you call us at 553-0796. That is our office number, or you can go to Jason Bramblett dot com and get some further information.

JB: Right.

Brad: I Heart Radio is fantastic.

JB: It is.

Brad: It is awesome. I thought about it the other day because I am like you know what? How many radios do I have in my house? I have got a clock radio next to my bed. I have an old boom box that is in my back porch.

JB: Boom box? Wow.

Brad: It has no batteries, and I do not even know where the plug is to plug it in.

JB: You just aged yourself.

Brad: Yeah, I know. I remember the days when your self-worth or status in life was dictated by the type of stereo system you had and how large your speakers were.

JB: Right. Now they have the new boom boxes like the Alexa and the things like that that talk back to us.

Brad: That is exactly what my wife is listening to us on today. This little cylindrical tube sitting on my mantle. You can actually go into homes and I can kind of date the homes by going in and seeing the cutouts and the built-ins for the entertainment systems. Now you do not need that. You can hang a TV on the wall like a picture. But I think maybe now might be a good opportunity for a break. What do you say, JB?

JB: Absolutely. I will tell you what. We will take a quick break and once again, if you would like to join in on the conversation, 336-882-7874. But we will take a quick timeout. You are listening to Triad Real Estate 911, and we will be right back. Stay with us right here on ninety-four five, WPTI. (in/out music) Welcome back to Triad Real Estate 911. I am JB, and of course, we have got some guest hosts in here today for Jason Bramblett. We have got Dave Held here and Brad Firestine.

Brad: Correct.

JB: Got it right. Jason is out of town today, but he has got two of his colleagues in here, and they are doing a fine job. And once again, if you have got a question for Dave or Brad today, you can give us a call at 336-882-7874. So far, we are having a great time. The cat is away, and the mice are playing.

Brad: That is right. That is right. And I am Brad Firestine with Jason Bramblett Real Estate, and to my right is Dave Held with Caliber Home Loans. We are talking about mortgages today and talking about what buyers need to do in order to obtain a mortgage to purchase a home, if they need to go that route. So, we were talking about getting prequalified. We were talking about getting your things together and getting to Dave. So technically Dave, how long does that whole process take?

Dave: Generally speaking, the conversation that we have over the phone or in person, if necessary, takes probably less than ten minutes for me to obtain the particulars I need to go to work on it. Generally, I can get back with somebody in thirty to forty-five minutes and review some options that they have. If they have, something is complicated about their income structure possibly, I may request some documents before we issue a preapproval letter, and then that way I can take the time to review their income and make sure that we are working from an accurate figure and that there is no disappointment as a result. If that happens, we add a little bit of time to the scenario so that I can go through that stuff. But again, not very long.

Brad: Right. Right. So initially, once they get all their paperwork, all their documentation, where does it go from there?

Dave: There is a difference between being prequalified and preapproved. These words get used interchangeably. They really do not mean the same thing. So prequalified is where we start. Prequalified is where I obtain that information verbally. I obtain a credit report, and we take it from there. So that prequalified is a very light, casual beginning approach. We have not verified anything other than the credit report. It is all verbally. But generally speaking, it is enough for us to be able to move forward at that point in time. They can get on with making an offer on a property if that is where they are at in the process. To actually take it a step farther, there is a lot of value in being preapproved versus prequalified. What we mean by that is now we are actually going to request their income documents. We are going to request their bank statements. Anything particular to them that is relevant to the loan approval process, we will ask for that stuff. And when we receive it, I will review it and make any updates that I need to make to their information. And then we can convert that prequalification to preapproved because now, we have actually seen the documentation that we were verbally talking about before. Now, I have verified whether or not it is sufficient. So, preapproved actually carries a little bit more weight. They can make a stronger offer when they have taken that step. Their agent can make a stronger offer because there is confidence.

Brad: That is where I wanted you to go with that. Because as a buyer’s agent, especially in the market the way it is today, and it is just so, so competitive. I practically feel like I should wear running shoes and track pants to work because you more or less have to run out to that listing as soon as it pops up just to get the advantage over someone else that may be looking at that same style or type of property. I have seen it over and over again. We go to the table with an offer, and if you have, you can have, the seller can look at these offers, and maybe there are multiple offers, and one has a preapproval, one does not, it could be identical as far as the offer. The guy that has got the preapproval is looking pretty good because the seller is going we know this guy has got money. So, we are going to the ability to get it. That is the way it goes. Even if the other offer is even stronger or maybe even a better offer, without that preapproval letter, it does not really hold a lot of weight.

Dave: Well, I will tell you from my perspective, there are a lot of times in this market when there are multiple offers, and the listing agents are helping the sellers make a decision on which one they should accept. I field a lot of calls from listing agents asking me if I have obtained documents from said buyer already. And while I cannot give the buyer’s personal information out, I can answer that question whether I have received documents or have not received documents. They are a lot more willing to accept a buyer’s offer when that buyer has already taken the initiative to send the lender the documents and we have reviewed them. When I say no, nothing yet. We just pulled the credit and we had a conversation, that is not as strong.

Brad: Right. Right.

Dave: And they check. I will tell you they check. They call me all the time. Sometimes they ask questions that I am not allowed to answer and they should not ask

Brad: Right.

Dave: But I can answer whether or not I have obtained borrower documents and whether or not it is a preapproval or a prequalification.

Brad: Sometimes you hear the term non-clean loans. So maybe I guess expand on that a little bit for me.

Dave: Well, yeah, that is just jargon I guess, if you will. So, a clean loan would be something that is very vanilla. There is a salary, a strong credit score, minimal debts, assets been in the bank a long time. It is just very typical and fits in the box. Non-clean could be somebody with multiple jobs over the last couple of years and different pay structures. Maybe a little too much debt at the moment and they intend to pay some things off to qualify. Maybe the funds that they need for closing are going to be a gift from a family member and they are not in possession yet. There are a number of things that can muddy the water, but as long as we ask a lot of discovery questions and really dig in on the front end, we can nip that stuff.

Brad: Right. Right. And I know we have worked with you and you have talked to us on numerous occasions, you work really well with trying to make sure that that client is taken care of and that those issues are resolved in order to achieve the final goal and get them into that home that they are hoping to get into.

Dave: Yeah, it is best to do it as soon as possible.

Brad: Right. Right. And that is a good point because after the fact, I have gone out and made the offer. I have shown the home. We put it into play. You actually take a lot of time after the fact, and we work together. You are constantly in contact with me letting us know what is going on in the process. You are very involved. You are actually, I would say more involved after the offer is made in a real estate transaction than even I am as a buyer’s agent. So, I do have a lot of work to do, but you probably have more contact with the client after the fact.

Dave: Yeah. My team and I.

Brad: Yeah.

Dave: It takes a team. We have different roles within the organization, but of course, I am extremely involved in the front end with the preapproval process, the loan structuring. Once the contract comes in, setting everything up, and getting the borrower all the next steps. Exactly what needs to happen and when it needs to happen so that we can perform. Then my team gets involved when they start sending everything back in, and I kind of watch from a little bit of a higher view. But I am involved with every loan every day.

Brad: Right. And a good point to bring up is that you are local. You are here. You are in the Triad. You can sit face-to-face with a client as opposed to calling an eight hundred number or applying on a website. Give me the advantages of working with a local guy like you.

Dave: Well, I think real estate is local in the first place. We have three offices here in the Triad. We are in Kernersville, Greensboro, and High Point. I am the sales manager of this area, so I am involved in all three of these markets daily, and when I say real estate is local, there are things that occur in the market that only somebody in that market could be privy to or understand or be able to work with. Our appraisers are also local, and that is also very important. When you possibly go to a national company or an eight hundred number or a dot com, a lot of times they have arrangements with appraisal management companies, and appraisers will come from different markets to appraise a property in this market and that kind of arrangement. And that does not make much sense because appraisers really should be local. You get local appraisers when you work with a local lender. You also have the ability, like you said, some folks want to do business face-to-face.

Brad: Right.

Dave: I am a huge fan of face-to-face, and I will meet somebody in any of my three offices just about any time if we have an appointment. You cannot get that kind of service when you are dealing with the internet or the eight hundred number.

Brad: And I think, too, and I have dealt with local, well you call the eight hundred number and they do not know about local things that are going on, especially with NC housing programs that are available to them. Well, it looks like we are getting close to the end.

JB: Yeah, we are about ready to wrap it up. Any final statements or do they need to contact you guys?

Brad: Yeah, Dave, what is a good contact?

Dave: The best way to get me is either on the telephone at 337-3210 or you can visit my website at Apply With Dave Now dot com.

Brad: Okay, good.

JB: And Brad?

Brad: And I should give out Jason’s information since he is paying for the show today. You can reach us at the office at 336-553-0796. Definitely contact us also at Jason Bramblett dot com. We have made it through the show, Dave.

Dave: Absolutely.

Brad: Thank you, JB.

 

JB: Thank you very much. It was a great show. We will talk to you next week. Everybody have a great weekend.

Posted in Radio Show
April 28, 2018

04282018

Listen to Podcast    JBRE Real Estate Radio 

 

 

JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and I will be with you and Jason for the next thirty minutes. We are going to be talking all things real estate. We invite your participation if you have a question or comment for Jason this morning. We are live in the studio. Give us a call. 336-553-0796, 553-0796.  And we say good morning to the man. He has always got a plan. Mr. Jason Bramblett.

Jason: Good morning. Good morning. Good morning.

JB: How are you doing?

Jason: I am great. Everybody is well. It is beautiful outside today, right?

JB: It is a beautiful day. You have got a guest with us, and we are going to have a great time today.

Jason: For sure. We are going to dig into all things real estate. How about multiple offers? Those are exciting. For some people. Sometimes not. It depends on who wins and who loses. You have got that multiple thing. Somebody is not going to make it to the top. How do you get your offer accepted? We are going to dig into that. Brad Firestine is joining me today. We are going to talk about those things. How to win. How to get your offer pushed through to the top. Then, of course, well, is there another market correction coming.

JB: Oh.

Jason: Lots of little chatter.

JB: I have heard some stuff.

Jason: Out there in the, yeah.

JB: I do not know.

Jason: We shall see. We are doing to dig into that. Interest rates, how high is too high? They are climbing. They came back just a touch Friday, but they have been as they say, the mountain is going up on the rates.

JB: Okay.

Jason: So, it is going to be interesting to see. But that affects your buying power and what you can afford in your monthly payment and or in the final sales price. All that stuff is headed our way. Then, of course, give us a call. 882-7874. You can always go to Jason Bramblett dot com. Shoot me an email, and we collect those, and if it is radio show-worthy, we share it right here every Saturday, and we have got some coming up.

JB: Sounds good. Well, you have got me. You piqued my interest there, Jason. Let’s just jump right in there. Let’s talk about it. Is there another market correction coming and are we entering that bubble stage again?

Jason: I would say absolutely. One hundred percent. Now, in the Triad, a small bubble.

JB: A little bubble.

Jason: A little bubble.

JB: Okay.

Jason; Little bubble, little house, little bubble.

JB: We do little bubbles.

Jason: It is definitely. Look, here is the thing. Real estate is always in cycles, and it is always in cycles, in ups and downs. But things are happening quicker now. In the 1960’s we had a crash. In the 1980’s we did, and in the mid-90’s, and then we obviously know the big old whopper of 2007 and 2009. Everybody remembers those good old days.

JB: Yeah, that was a big bubble.

Jason: It was definitely a big bubble. But now it just seems those cycles are happening quicker. Now a lot of it is has really been catalyst because of cheap money.

JB: Right.

Jason: And when you have cheap money, just people do stupid. That is just all there is to it because they do not worry about how much it costs because the payment is just not that much. When rates are seven, eight, nine, ten, twelve, eighteen percent, it makes you pause and think about things differently.

JB: Exactly.

Jason: There is a balance. I do not know where the break is. When rates were two point eight to four, people take a lot more risk than they need to. But then on the flip side of that, when rates are like nineteen to thirty percent, that is kind of equally stupid, too, right? Because then you are just triple paying for everything.

JB: Right.

Jason: So, there is a sweet spot in the middle where there is a balance, and we have not been in a balanced market in quite some time. Maybe we will. Our rates are very, right at the five percent rate. We may even see six percent before the end of the year. Most everybody did not think we would see five by the end of December, and we were already two five. That has certainly been a factor in the real estate cycle. Cheap money opens the door for a lot of different opportunities for folks, which is great. But also, it lets people get in over the heads unfortunately. Sometimes we see that all too often, all too quickly. It is going to be interesting to see. We have got bigger markets that are already starting to see a slowdown. Miami is one of them that is already starting to maybe have a, it is not crumbling, but the walls are cracking. Okay? We have got some other places. In Texas, we are starting to see a slowdown. It is interesting. Those places have been on fire. They are starting to slow down. Ours is just now, we are just lagging. We are just now starting to speed up a little bit. The good thing about that is usually when we have these corrections in the Triad, we do not get just clobbered as bad as everybody else.

JB: Right.

Jason: Which is always good.

JB: That is.

Jason: But we do get clobbered a little bit. Any lost money is no fun, right?

JB: Yeah.

Jason: But we do not have these big huge swags. But with cheap money as I said it brings opportunity. One of the things that we are seeing that we talked about is multiple offers. Brad is joining us today because I want him to kind of talk about it. He is boots on the ground, and he sees these things every day, and I wanted him to talk about what are some things that we can do that assist our clients and what are the things that we are doing to help them ensure that they get their offer accepted when there are multiple offers. It does not necessarily mean that you are just the highest offer. Right? Because there are lots of other terms in an offer outside of price.

JB: Right.

Jason: It is digging into what fills that need for both buyer and seller to get those accepted, but we will say good morning to Mr. Brad Firestine.

Brad: Good morning. How are you?

Jason: Good, good, good. So what advice, somebody is out here. They are considering buying a home. Bigger, smaller, whatever it is, upsize, downsize. And the rumors are on the street that the market is doing pretty good. There are going to probably be multiple offers on a nice, clean home. You are going to have the multiple offer situation. So what advice are we giving to these folks to ensure that theirs rises to the top, if you will?

Brad: There are a lot of different strategies that you can go with. I guess the most important thing is to be prepared. Make sure that you are prequalified upfront. Make sure that you have all of your ducks in a row to be able to put that offer in and submit that offer with a letter of prequalification or preapproval that you can actually buy that home. So that is what the seller is going to be looking for, first off and foremost if there is any multiple offer situation. If you have got multiple offers on the table, they are going to weed out the ones that do not look as well without actually saying, hey, you know what? I can afford to buy this home.

Jason: Like put my money where my mouth is type of situation?

Brad: Exactly.

Jason: Yeah, that is probably solid advice for sure. It is also the bank and the company in which the letter is written from makes a difference. The Bank of Fiji, most people have not heard of that.

Brad: Right.

Jason: So, you want to make sure that if you are talking to somebody online, having a conversation with some of these online mortgage people is, you could, you just might as well walk down the street and talk to a stranger about lending you money. Because if they have not pulled your credit, if you have not submitted any documentation to them, and they give you a letter based off a conversation that very well could blow up and turn out really, really bad.

Brad: Right.

Jason: These teaser rates, and with rates going up, some of these Internet lenders have really gotten creative in how they are advertising these unbelievably low rates that probably really are not one hundred percent accurate maybe?

Brad: They are that low.

Jason: Yes, exactly. If you see one point nine nine, just be careful. Alright? It is probably not accurate. If you get a letter from the Bank of Fiji, probably going to get some questions about that, guys.

Brad: It is a good practice. It is actually a good idea to stay with a local lender.

Jason: It is.

Brad: Just because they are local. They know the local things that are going on. If there are any empty housing things that the buyer can take advantage of. They are right there. I have dealt with some out of state lenders, and they have no idea what is going on in North Carolina.

Jason: That is very true. I had a client one time. He said, I like working with local people. I said, really, why is that? He goes just in case I need to go get my hands on somebody. I just like to do local. I said, oh, that makes sense. I do not think he was kidding either. It was just kind of how he was wired. It is true. Local, it is just good to have that personal relationship. We have some great lending partners. You go to Jason Bramblett dot com. Get more information about them and their services. They have great products, but really the key is they get the job done, and sometimes closing on time is very important. I am not going to say that all these internet banks do not, or mortgage companies, but when your lender is sitting across the table with you at the closing table, and something is going wrong, they can fix it. They may not really care so much if they are in Texas. They are not going to be the one staying in the hotel, right? That is going to be you with all your stuff on the moving truck. So, getting your ducks in a row, as Brad said, and making sure that you are approved. The other thing we have talked about on the show many times, the cheapest part about buying a house is the house. The most expensive part of the whole thing is the mortgage. You will see that when you go to your closing and you get this little Truth in Lending thing that they give you, and there are two numbers. There is the house price number, and then there is this other number that is substantially larger than that and that is all the interest you are paying, right?

Brad: Right.

Jason: Knowing what your payment is, knowing how much the money is going to cost you to borrow is a key factor in making a good decision on a home purchase. We have got rates that are up and down. Up recently this year more so than anything else. How are you seeing that impact the market?

Brad: It spurred a lot of buyers to get off their couches and start looking seriously because everyone knows the interest rates are going up. So, they realized that it is going to cost them more to borrow money, and it spurred a lot of interest.

Jason: There are a lot of folks that we have seen where they have, well, they have kind of lost a bedroom almost in that they cannot afford. Well, they were looking for a five-bedroom, and now with rates going up, I cannot buy that big of a house. Now, I can only get a four-bedroom or a four-bedroom to a three-bedroom or two-bedroom to a no bedroom. I cannot even afford to buy a house now.

Brad: Or from that house that they could have purchased that was fifty thousand dollars more, and now they have to take that off.

Jason: Yeah. That hurts.

Brad: It does hurt.

Jason: It does hurt. Yes, if you were one of those folks that well just maybe procrastinated a little bit too long, I would not wait any longer, and there is go guarantee that it is coming back down, guys. From everything that we can see, I think we are pretty steady, and the market and the economy is good enough. We are going to see rates continue to get higher. I would not be surprised if we get back into those seven and eight percent rates down the road. It is just the reality of where we are. Let’s do this. We will take a quick time out. We are going to pay some bills ourselves. Somebody is coming here to talk about something on the radio, right?

JB: That is right.

Jason: Some commercial is getting ready to fly. Maybe it is Freedom Checks, who knows?

JB: It may be a Jason Bramblett spot.

Jason: There you go. We can do that, too. We will be back in a minute. Stay tuned. It is 882-7874 if you have a question.

JB: Alright. Stay with us everybody. (in/out music)

Jason: Welcome back to Triad Real Estate 911. Jason Bramblett your host with Brad Firestine in the studio today. We are just burning through some of the struggles some of the folks are having with the real estate market in general but also right here in the Triad dealing with multiple offers, rising interest rates, low inventory. Man, the sky is falling. Actually, it is not that bad at all. It is a little frustrating in that the inventory has dropped offer, and we have some folks that are a little frustrated with not being able to have the choice of thirty like they used to.

Brad: That is right.

Jason: That can be a little frustrating. Then we have some folks that would like to downsize or upsize and they are little scared to sell their home and fear that they may not have anywhere to go. Right?

Brad: That is right.

Jason: I can understand that. There are techniques that you can use to make sure you are not homeless. Promise. We will get a roof over your head, and not just over here at the Motel 6. I promise. We will keep you where you are at for a while and or get you to a better place. There are things that we can do. You just have to think differently. You have to think outside the box when you are in a market like this because it has changed quickly, and some real estate agents have not been around as long as some of us, and they do not know how to go through these cycles. They only know last year.

Brad: Right.

Jason: Or two years ago or whatever it is.

Brad: This is not last year.

Jason: This is definitely not last year. It is definitely not. It is not last month hardly. Right?

Brad: Right.

Jason: It definitely is not. There are things that we are looking for. We have hundreds and hundreds and hundreds of buyers on our websites looking in specific areas in the Triad. So, we have got several thousands of people listening to us, Brad, and they live where we want to sell a house. We have buyers ready to go. So, what are you seeing in the marketplace? What is, when we look at our database, where are the hot places that we really need to talk to people about selling a property because we have buyers ready to go?

Brad: If you are listening and you are in Summerfield, Oak Ridge, Lake Jeanette, Buena Vista, alright, those are the hot areas right now that we really need to pick up some inventory on. Summerfield price ranges, three-fifty to four-fifty.

Jason: Okay.

Brad: Sound about right?

Jason: Yeah. Definitely.

Brad: You are looking at Oak Ridge, hot area, four hundred to five hundred thousand-dollar homes.

Jason; That is kind of the sweet spot.

Brad: That is kind of the sweet spot there for that area.

Jason: For sure.

Brad: Then Lake Jeanette. Big area, very popular, four twenty-five to five twenty-five.

Jason: Gotcha.

Brad: Something right in that range. And then Buena Vista, awesome area. Love that area. Four hundred to the four seventy-five-thousand-dollar range. So that is about where we are at. That is what the people are looking for right now.

Jason: There are lots of other areas as well, but these are the ones that kind of rise to the top. We have folks that are looking in Pleasant Garden, Walkertown, Bermuda Run. We did not forget about you out there.

Brad: I have one client that has been looking for over a year for the right home in Pleasant Garden. I am waiting for it to fall out of the sky.

Jason: It is going

Brad: I am sorry that the tornado did not deliver it last week.

Jason: No kidding. Let’s see if we can make it fall out of the sky. So specifically, what are they looking for? Maybe we have a Pleasant Garden listener that can just say you know what? I am ready to sell. So, what are they looking for?

Brad: Here we go. Everybody listening in Pleasant Garden? I am looking for a brick ranch with a side-entry garage. There you go.

Jason: Wow. Okay.

Brad: Call me. Call me. Please call me.

Jason: There you have it. Brick. Side entry garage. As long as your house is intact, we want to talk.

Brad: That is right. That is right.

Jason: Any particular price range?

Brad: Around the two-seventy range.

Jason: Okay. So not a bad price range at all.

Brad: Not at all.

Jason: Absolutely. How about Wallburg? Right? Wallburg is a place that we like to know, get some good properties there. Golf course. Meadowlands. We have got folks that are looking in that area. A lot of great townhomes that are being built over there right now. A lot of stuff going on in the Meadowlands. So, if we are not mentioning your area, do not say, do not think that there is not a demand. Because even in Tobaccoville, we have a got a few people. Even in King that does not come up on the radar all the time, but it is a happening little place right now. So, there are people that are wanting to get out of Winston-Salem that want to get a little bit more country, if you will, and I have a little bigger piece of land.

Brad: One went under contract in Rural Hall yesterday.

Jason: There you go.

JB: There you go.

Brad: It is just the market is crazy. It is crazy. You cannot understand it until you actually go out and show a piece of property, and then you are on the way to show the next piece of property at this point, and the listing agent calls you up right after you leave the door and says this house just went under contract.

Jason: Right. Yeah. In certain areas, I have friends that own real estate companies all over the US, and there are some areas where they are like look, let’s just make all the offers, and then if we get one we will go see the house because if we waste time going to see the house, you are probably never going to get one.

JB: Right.

Jason: So as soon as it hits the market, make an offer. If you win, we will go see it. If you do not, make another offer. It is that ridiculous in some places. The inventory levels are really low. This is something I get every day. What is up with the inventory, Jason? Where did everybody go? Where did all the houses go? I think a lot of it has to do with the HARP program that we had. The Triad was a big recipient of the HARP program. So, this was people that were under water but current on the mortgage. They had not missed any payments. They could not refinance because there was no equity. They could not sell because there was no equity, or they did not want to sell because they did not want to write a check for thirty thousand dollars to get rid of their house. So, the HARP program came along and said well, the rates are attractive, so we will let you refinance to a lower rate so that you might have been at, back in the old days, like four point seven five, woo hoo, but these things were going down to two point eight, three percent. So, you have got thousands of people right here in the Triad that have a two point eight to a three point five percent interest rate, fixed, from the HARP program, and now we are talking about rates being five, five and a half, going to probably six potentially, and they are looking at that going why move? Right?

Brad: Right.

Jason: They have got a low rate. It is locked for fifteen or thirty years.

Brad: Right.

Jason: I am just going to stay put. I have got a nice house and most of them are still a little bit upside down. So, who is going to move? It is going to be the people who have to. The people with job relocation. There is always life that happens. Death, divorce, all those types of things. There is always going to be movement in the market. There are people who have all kinds of financial situations come up. And there are those things.

Brad: I have seen a lot of downsizing, too. Because kids have left. They are already out.

Jason: Yes.  A lot of downsizing is going to happen. We have a lot of migration from the north coming here, which is great. So be prepared. It is predicted in the next ten years the population of North Carolina is going to double.

JB: Wow.

Jason: There will be people who speak differently than we do. Okay? So, we have to be prepared for that. Be ready. I am just kidding. We love everybody. Come to the south. We have sweet tea, pumpkin pie.

JB: We love you. We just make fun of the way you talk. But that does not mean we do not like you.

Jason: I went to Jersey last week and they were like where are you from? I am like what are you talking about? Well, you have a little accent. Really? I do not hear it.

JB: You have got that corn-fed Midwestern thing going on.

Jason: Exactly. Exactly.

JB: The Missouri-Missourah thing.

Jason: Yes, exactly right. Exactly right. That is exactly right. Anyway, if you guys are in these areas where we are looking. Summerfield, Oak Ridge, Lake Jeanette, Buena Vista, we have hundreds and hundreds of people searching. We are going to come start knocking on your doors I think. See if anybody is home. But if you are in those areas, three-fifty, four-fifty range, we want to talk to you. Buena Vista, four hundred to four seventy-five, we definitely want to talk with you there. But do not forget Gibsonville, McCleansville, all these other little towns that we have, we still have folks that are searching in the area. It maybe has just not hit our heat map where it is intense, but there are still buyers out there looking, and we want to hook you up with them. The good thing about it is, there may be more than one.

Brad: There may be.

Jason: Side entry brick ranch, Pleasant Garden, call us. Okay? We have a buyer for your house. Up to two hundred seventy-five. Now if you have a sixty-thousand dollar house, do not call thinking they are going to give you two seventy. But hey, we do have somebody looking. We can probably hook you up and put you guys together. Go to Jason Bramblett dot com if you have a question. Shoot it over to us, and we can always answer that on the air. We can also answer it when you call the office at 553-0796. Everybody have an awesome weekend. We will be back next week right here, live. Just enjoy the day. We will see you then.

 

JB: Take care.

Posted in Radio Show
April 21, 2018

04212018

Listen to Podcast   JBRE Real Estate Radio

 

JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and for the next thirty minutes we are going to be talking all things real estate. We welcome the man to the microphone. He has always got a plan, and he is my friend, and he is Jason Bramblett. Good morning.

Jason: Good morning. Good morning. Good, beautiful morning to you.

JB: Isn’t it beautiful out there?

Jason: It is a great day.

JB: I think it is crisp.

Jason: It is good.

JB: And the first Saturday in like two or three weeks where it was not raining and nasty. This is nice.

Jason: This is good. I do believe that may be on the way, but we are just going to enjoy the moment. Let’s just, all we can deal with is what is in front of us right now. Right?

JB: That is right.

Jason: So, we are just going to deal with today, and today is good. If you are out and about, we have got a couple of things, if you are just bored and do not have anything to do today, I have got an idea for you. We had this little storm blow through Greensboro.

JB: Oh yes. Terrible damage.

Jason: It really is. It is kind of scary really. If you do not have anything to do, there are people that need your help. There are lots of places you can go volunteer. Here is what the City of Greensboro does not want you to do.

JB: Okay.

Jason: Get in the pickup truck and just drive over there with your chainsaws and just start jumping in there.

JB: Right.

Jason: There is a little bit of organization to it. There are still some areas that are somewhat dangerous. Power lines down. Areas that let the professionals go in and get the safety stuff taken care of. There will be plenty of room for what I call brick haulers, people that just need to pick up debris and stuff like that. That is okay. That is a good thing. We are going to need folks like that. There are two locations you can go to today and tomorrow actually. Park your car. Jump on a city bus and they will take you over to the area where you need to be, which is great. So, if you are interested, you can go to GTCC, that is a tongue twister this morning, GTCC campus. It is the one that is over off of East Wendover. Make sure you get your location right because if you go to Jamestown, you might be sitting there a while.

JB: You do not want to do that.

Jason: You do not want to do that. You may be waiting a while. This is the one that is on East Wendover. It is actually at Penry Road and East Wendover, right there at the corner. You can go there. There is a shuttle running through there all day today from 7am to 5pm. The other location is at the Gateway University over there, which is just down the street. It is at 2901 East Gate City Boulevard. Both locations obviously in Greensboro. They are running from seven to five today, and then tomorrow from eleven to five. They probably run every fifteen minutes to thirty minutes, running people to and fro. So, you do not have to stay the whole entire time. But when you go, you need to be there prepared to work. They advise you to bring some water, some gloves so that way you have some way to protect your hands. Do not go over there just to take pictures and look. They have got plenty of people to do that professionally. So, you go there being ready to work, but do not just show up. There needs to be some organization. It will actually get cleaned up quicker if we have some organization. If you have a large group of people, maybe you have a large company and your company wants to be involved, they are asking you to reach out to the City of Greensboro. That phone number is 373-2489, and they can schedule you to come in on a specific day, maybe during the week and put you in a specific area to help out. Lots of things that are happening within the City of Greensboro. So, if you are around near Winston or High Point or Mebane or wherever, and you are just looking for a project to do today, maybe you have got your yard cleaned up and ready to go, and now you need to help somebody else. Our team was on the ground over there on Thursday, the common thing was wow, TV is really not doing this justice. It is actually worse than what you are seeing.

JB: It is hard to get the big picture. What is limited in a far away shot on the TV just does not do the justice of what really happened.

Jason: Yeah, absolutely. The camera, it may show, and you could see two hundred feet away that oh wow, it kind of looks like that house is not sitting on its foundation. But when you are there and just seeing that, it is one thing to watch from afar. It is another thing to walk down the street.

JB: Right.

Jason: It really gives you some impact there. Those are some things that I think you can do. But the TV is, you can always tune into Fox, all the major channels, Fox8, Channel 14, they have got information on there about how you can help us. But again, guys, just do not show up.

JB: Right.

Jason: That is not going to

JB: Kind of like the rubberneckers in an accident. We are all curious folks, but let’s think about the big picture here. There is going to be plenty of time for that.

Jason: Absolutely. Those two locations today are open until five and also tomorrow until five. Tomorrow they open at eleven, but anyway, nice shuttle service that the City is providing, get you in and out safely. Keep your cars away from, obviously, the area as well because that only congests the moving, the trucks that are trying to get the debris out. They do not need you in the way. That way it will keep you a couple of miles away from where the flow of traffic is, but still have a plan to get you in there, and you can help out.

JB: Sounds good. Well, I know this has been kind of top of mind for a lot folks in this area for the last week or so, but let’s kind of dig into that, Jason. What you should do to maybe prepare your home for a storm? It could be a tornado, not just a tornado but a hurricane, which of course, we experience here in the Triad, just straight line winds. So, we have all kinds of stuff that we can, this might be a good time to talk about.

Jason:  It is. Just like we do twice a year, we talk about changing the batteries in your smoke detectors, right, because it is just a preventive thing. If you do not talk about it sometimes you forget. First off, some storms give you no warning. I will say, obviously, you are warned if you are tuned into the media. Right? The TV or the radio.

JB: Or if you have a radio, a special one of the NOAA radios.

Jason: Exactly. I will say that I was impressed with the warning that we got actually. All day, when we were on the air Saturday, and they were already talking about it, already prepping us to say hey,

JB: Possibility of severe weather. We cannot tell you exactly where but be ready.

Jason: Exactly.

JB: And they did.

Jason: And they did well. Even when the event was going off, the National Weather Center I think did a really good job in heeding people to take cover. There was definitely something happening. If you were out that day and had that sideways rain coming, you knew something was happening. It was serious.

JB: Yes, it was.

Jason: I got to experience in Oak Ridge. Yeah, it was pretty severe. I was surprised how fast it changed jut like that. It was quick. Here is the thing. If you are a homeowner, the first thing that I would suggest is check your insurance policy. There are a couple of things you need to take attention to. Are there any special riders you need to add to just your general policy for water damage, storm surge, flooding, those types of things. If you have a creek behind you, even if it is a good bit away, four hundred yards, a half mile, a quarter mile, you may take a look and see what is the flood fringe? What does that look like? Am I in a one hundred year, five-hundred year, none at all? Just because you are not required to have it does not necessarily mean it is not wise to pick it up because if you do not get it, then you are stuck with this other program that we have called FEMA, which is great. At least there is a program. Right? It could be just oh, sorry. You lost everything.

JB: Right.

Jason: I can tell you a story about some folks in Tarboro that they live two miles away from the river. Never in a million years did they think their house would flood. House flooded, like six feet of water in it. She probably could have got flood insurance for fifty bucks a year. It is just, what is the ratio of percentage that it is going to happen? One in a bazillion, right?

JB: Right.

Jason: So, the insurance is really, really, really cheap. But if you had it, wow, what a big difference it makes.

JB: Right.

Jason: Those things are something to take a look at. Do you have ample coverage? Do you have enough? Especially if you have been in your home for a while. Home values typically rise. Hopefully, they will continue to do that. That is the hope. Right?

JB: Right.

Jason: But if you have been in your house for twenty-five years, and you insured it at XYZ, if your policy does not have a replacement cost verbiage in it, if you just bought say two hundred thousand dollars’ worth of coverage, and now your house is worth three-fifty or it would cost three hundred and fifty thousand to replace it, you are under covered. So, you are either going to build a really not-so-much the same house that you had and or you are going to have to go borrow money to get back to zero. Right? To get back to where you are at. So, you want to make sure your policy has something maybe written in it that says it is a replacement cost. It adjusts without you having to think about it and or your want to make sure that you have enough in there especially if you have been in your home a while. So, those are things to think about. Does the personal property you have in your house, are you adequately insured, and do you have some type of itemized list or verification of what you actually own? The great thing about technology is today you can actually just walk through your house with a video camera, and video each room and document that. It is stored in the Cloud, and that is probably enough to suffice to say okay, here are the things that we lost. Here is the thing, guys. It is hard to remember when you are going through an emergency.

JB: Right.

Jason: You are going to think essentials, but there will be things that, let’s face it. We have got stuff, right, and it is all packed away in the attic and in this and in that. One of these big storms go by, and everything that was in your attic is thrown a half mile down the road. You may not remember what all of it was. So, if you have some documentation that will go very, very well with the insurance company. That is really for anything. It could be a fire. It could be a tornado, hurricane, anything. You have something to prove that. Okay?

JB: Right.

Jason: Here is one that we do not deal with a lot in real estate sales, but just as important, are you renting? Are you renting a house or are you renting an apartment? It is important that you have insurance to cover your personal contents. The property itself should be hopefully covered by the owners’ policy, but that does not cover your contents inside.

JB: Right.

Jason: Renters’ insurance is really inexpensive. It is actually a very, very good value. For just a little bit of money, probably a hundred, maybe a hundred and fifty dollars a year, ten to fifteen dollars per month, you can get a decent amount of coverage for your personal contents. Those are the people right now that are probably hurting the most. They did not own a home, so they had no insurance policy. Everything that they have is destroyed, and they had no renters’ insurance. Really, they have nothing. What they are walking around with is probably everything they own in bags or suitcases.

JB: Right.

Jason: So, those are the people we are going to need to reach out to help for sure. But if you are in that situation right now, if you are a person who is renting a home and or renting an apartment, you need to just call, you can call any insurance company out there that provides this type of service, but most of the major players do. It is really inexpensive. It is not hard to get. There is really no qualification for it other than you just pay the money. That is really it. In times when it will not ever happen to me, it is easy to say, oh, I do not need to spend that one hundred fifty bucks a year. Well, there are a lot of people that said that are probably saying man, I wish I had spent that one hundred and fifty dollars.

JB: Exactly. Right.

Jason: Anyway, something to think about. Let’s do this, JB. We are going to take a quick timeout. We are going to dig into some more things about the real estate market and some changes that are going on. Again, if you have interest in helping out today in Greensboro with the storm damage, there are two locations. One is a GTCC at Wendover and Penry Road. That is 3505 East Wendover. The other one Gate City University at 2901 East Gate City Boulevard. And you can get picked up there and taken over and it is going on today and tomorrow until five o’clock.

JB: Sounds good. We will take a quick time out, and we will be right back with Jason Bramblett. You are listening to Triad Real Estate 911 on ninety-four five, WPTI. And we will be right back. (in/out music) Welcome back. You are listening to Triad Real Estate 911 with your host Jason Bramblett. I am JB. Let’s go back into the conversation here, Jason. I have actually heard that some owners now are having some issues with appraisals once the house is under contract. What can you tell us? What is going on here?

Jason: It is for sure true. At the first, it is called the Golden Rule.

JB: Ah, the old Golden Rule.

Jason: Yes, and you would think that would be do unto others as you would have them do to you. Right?

JB: That is what I learned.

Jason: Well, this other Golden Rule is they that have the gold, rule.

JB: He who has the most toys

Jason: Yes.

JB: Dies with the most toys wins? Or something like that?

Jason: Yeah, maybe along those lines.

JB: That is, I do not know.

Jason: That is a different one, too, I think. But here is the situation. You have got three, four, five offers on your house. It is a pretty good day, right?

JB: Yeah. Sounds good.

Jason: It sounds really good. Of course, just like any wise human being, you are going to take the highest offer.

JB: Sure.

Jason: Why would you not take the highest offer? Right?

JB: Sounds logical.

Jason: It is money, and that is what we are looking for.

JB: Show me the money.

Jason: Show me the money. Get as much. Unfortunately, this is where logic kind of falls short, and there are these things called terms. What are the terms, especially the financing terms? And that isa key one right there.

JB: The cost of that money?

Jason: The cost of the money, but also who is providing the money.

JB: Yes.

Jason: So, you may be thinking well, I am looking pretty good on paper here. Twenty thousand above asking price. I am feeling pretty good about this. I have had three, four offers, but here is the problem. The bank may not agree with you. So, when the appraisal comes back, fifteen thousand dollars less than what you thought you were going to get to for the house, you are kind of not happy. The good news is this. You still got five thousand more than you are asking.

JB: Well?

Jason: Right?

JB: Right.

Jason: It sounds good. But here is the thing, JB. For some reason, nobody can see that number anymore. The only thing they can look at is the fifteen thousand dollars that walked out the door.

JB: That is right.

Jason: I had a guy right here, ready to go, ready to buy my house. We had people lined up out the door, Jason, five offers, twenty thousand above asking price, and now the bank says no. What is up with that? That is the world we are living in right now. You are seeing it day and day out. And here is the thing. When you go to apply for a mortgage, there is a little clause in there. It says, I will paraphrase, but basically it is this. We will loan you up to XYZ amount of money based upon the purchase price, which is the contract price or the appraisal, whichever is the lowest. Okay?

JB: Right.

Jason: Supposedly, the appraisal is a tool in which it is to give the buyer some protection, right? To make sure they are not paying too much for the house. Well, market indications would indicate that well, sometimes you have to pay the most to get what you want if there are not that many of them. Right? Supply and demand economics. Well, the bank does not care. Because here is the thing. The bank realizes that you may be willing to pay that extra fifty dollars a month to borrow that money. They are just not willing to write the check for the twenty-five or thirty thousand bucks because it could be upside down. If the market shifts, just because there was a low demand does not necessarily mean that it is a good investment for the bank. So hence the reason they have this rule. We will loan you on the purchase price and or the appraisal, whichever is the least of the two. Right?

JB: Right.

Jason: So that is the world we are living in. It is a frustrating place for many, many owners. Okay. But this is where having a good real estate team and broker behind you to explain to you that this is, not necessarily going for the highest may not always be the best, right?

JB: Right.

Jason: We need to look at those. We need to look at those terms. We need to look at the type of loan that the person is getting. Those are key things that we look at. I know it is a frustrating place to be when you have got people who want to pay XYZ for your house, and then all of a sudden that is taken away from you. But all I can say is 2006.

JB: Right. There you go.

Jason: There you go.

JB: And that is some good information you had there. Hey, do we have time for an email here before we get out of here, I think we do.

Jason: Yeah, let’s do it. We got, let’s do it.

JB: One just came in, and I thought it would be a good time to throw it in here. I got an email from John. It says Jason, I have a very high-end home in the Winston-Salem market. Do you think this is the right time to sell or should I wait until 2019 to consider putting it on the market? We are planning to downsize. Thank you, John.

Jason: Well, hey, I am kind of a do it now person.

JB: Right.

Jason: John, really to be honest with you, I guess I have just experienced enough life at this point to know that sometimes when you put stuff off it just never actually happens.

JB: Right. One of those coulda, shoulda, woulda things.

Jason: Yeah. Sometimes it does not happen because you are no longer around. Right?

JB: That is right.

Jason: Unfortunately I have had that happen with a friend of mine this past year. I’m sure he had many plans to do many things, and you just do not know when that time is going to come sometimes. Well, you do not really ever know truthfully.

JB: Well that is true.

Jason: There is no date. You have your born to date, not your expiration date.

JB: Expiration date.

Jason: You do not know that one. I am just really, if it is an emotional thing that you are just kind  of done with the bigger house, then we cannot predict, who knows what a year is going to be? Is real estate going to be more expensive or less? I do not know. Nobody does.

JB: Right.

Jason: Because we only can see it in arrears. We can only see it in the past. If everybody knew that 2006, seven and eight was going to be the crash, nobody would have done anything. But right up until the very end, everybody was going and going and going and buying and everything else until they were not. And then it changed quick.

JB: Exactly.

Jason: Right now, I think the real estate market is pretty healthy. There is a lack of inventory in almost all price ranges. Maybe not the really, really high-end price ranges, but there is a lack of inventory there. This very well could be the golden time to get the house sold, John. But 2019 Spring? Well, if all things are equal, all things are the same, and everything is as it is right now, okay. Maybe. It is just an unpredictable thing that we do not know. I guess that is what I started off the show to say is the only thing we can deal with is what is in front of us right now.

JB: Right.

Jason: That is really. Should we have plans? Absolutely. You need to have some forethought. It is good to have a plan. It is okay to have a plan. But if it is something you really just want to do, and his question was is this the right time? It is the right time if you are ready.

JB: If you are ready, yeah. You are in control.

Jason: You definitely are. There will be circumstances that happen in life that are out of your control like we just talked about. A tornado that just blew through Greensboro. There is not a person that lived on any of those streets over there that were in control of that. Not a chance, right?

JB: There was nothing they could do once it started.

Jason: No. The only thing they could do was react to it.

JB: Exactly.

Jason: That is it.

JB: Get out of the way.

Jason: Get out of the way. That is it. There are life events where you cannot help what happens, and you do have to react to it unfortunately. Hopefully, you can be proactive, and that is why we wanted to talk about insurance and different things like that. Anyway, John, I hope that helps. But really I am a kind of let’s do it now. If it is on your mind, and you are ready to go, I would say get out there and let’s do it. It is a great time to put the house on the market. Perfect time of the year. Real quick, before we end, JB, I do want to hit that stuff in Greensboro again. Guys, if you want to go help Greensboro folks out from the tornado mess, you can go to 3505 East Wendover Avenue today. That is the GTCC campus over there. And also, Gateway University, 29 East Gateway City Boulevard. They are there until five and they will shuttle you to where you can help out.

JB: Sounds good. Have a great weekend everybody, and we will see you next week.

 

Jason: You bet. Alright. Thanks guys.

Posted in Radio Show
April 14, 2018

04142018

Listen to Podcast     JBRE Real Estate Radio 

 

JB: Good morning and welcome to Triad Real Estate 911. I am your host JB along with Jason Bramblett. For the next thirty minutes we are going to be talking all things real estate. We invite your participation in today’s show. If you want to give us a call or have a question or comment, give us a call at 336-553-0796, 553-0796. And we welcome to the microphone the man who has got a plan and his name is on the show, Mr. Jason Bramblett. Good morning.

Jason: Good morning. Good morning, everybody. I think we have officially hit pollen season.

JB: You think so?

Jason: Yeah. Everything has got that little tinge of greenish-yellow to it.

JB: Isn’t it lovely out there?

Jason: Yes. But you know, Jeff just told us that we are getting some tornadoes, straight line wind and some rain. That ought to probably take care of it for a while.

JB: That is one thing about straight line wind or some really severe winds. It just picks your pollen up and blows it twelve miles that way.

Jason: We are going to send it to Virginia.

JB: They can have it. I am sure there is more where that came from.

Jason: Oh man, I tell you what. It is tough stuff this week.

JB: It is.

Jason: And this is just the start. Hey, real estate has been awesome. Everybody loves a little green tinge to the house, right?

JB: Absolutely.

Jason: It makes it look good. And you just keep dusting and dusting and it is just like really? It just keeps coming back. What are you going to do? Good stuff happening in real estate. We are excited about some things that we are going to share with you today. We have got some amazing homes hitting the market. You can go to Jason Bramblett dot com and check them out. Really, really, some top-level stuff. You know, we have got, well it is not official yet, so I cannot say that. We have got a really cool house getting ready to hit the market, and I will tell you about it maybe next week. It should be ready.

JB: Okay.

Jason: It will be fun. But I do not want people driving by and going really? Better wait, better wait. Anyway, cool stuff. Questions if you have got them, got to Jason Bramblett dot com. Shoot them over to us. Obviously, the more we get, we will share your question on the air. A lot of them, a lot of the show material comes from the feedback you guys give us.

JB: That is right.

Jason: So what you are curious about or wanting to know, we dig into that. Find answers for you. Hey, it is good. Right now, you could not find a better time to consider moving and selling. Good stuff happening out there. It is go time, as they say, JB.

JB: That is good.

Jason: Absolutely. You can go to Jason Bramblett dot com. Check out the new listings hitting the market, and also shoot any questions you have.

JB: Well, speaking of questions, we have got some that people have emailed in. Do you feel like taking a question or two here today?

Jason: Let’s do it. Let’s do it.

JB: Alright. Let’s jump right into the first question. It says dear Mr. Bramblett, we are ready to sell our home. However, we are not finding anything we like for sale. Are there any short-term rentals available while we are in this transitional period? Thank you, Jean. That is a good question.

Jason: That is a good question. We get this question, we get it quite often actually. Here in the past month or two, we actually got it more than we had in the past couple of years. But it is something that we are definitely hearing back, and there is actually several options that you have got, Jean. So here are a few. Easiest, we will go from the simplest to, well not really simple, but most convenient to least convenient. How about that?

JB: Okay. That will work.

Jason: Because there is a price to pay for everything, right?

JB: Right.

Jason: Most convenient would be to sell your home and then do a rent back for a certain period of time. It could be two weeks, a month, ninety days. Whatever. And we have done that many times where, especially if you are building, a lot of times we will do this with folks that do not want to move twice and their house is just almost done, but not quite there, and it just makes no sense to move somewhere for seventeen days when you could just negotiate that in the deal. That is something. You could also delay the closing. That is something we have done as well where maybe you just want a little extra time, and perhaps the folks that are buying your home are not in a big hurry. So, you could push the closing out sixty, ninety days or really it is whatever you negotiate.

JB: Right.

Jason: So, you could do that, buying you some more time. Then, of course, if something became available that met your criteria, you could probably move it up, moving the closing time back up. Those are the most convenient. I will not say the easiest, but definitely the most convenient. Extended Stay hotels. We have actually got several right here by the airport that a lot of folks stay in. They will not stay this week because the Furniture Market is here, I believe.

JB: That is right.

Jason: They are probably jammed up this week. But we have had many, many clients stay in those Extended Stay hotels. Most of them do allow pets and even kids can go. Right?

JB: Right.

Jason: But we have had several folks that have done that just because they needed an extra week or there was an overlay or a layover or sometimes construction might have been slowed up due to weather or whatever. So those have been really good for a lot of folks here in the area. There are also some apartment communities in the area that have some shorter term leases. They will do, there are a few that do three-month and six-month terms as opposed to the traditional year. So, you do have some options out there with that. We have vacant homes in the Triad. Obviously, everywhere there are vacant homes, and some owners may consider letting you stay there short-term.

JB: Right.

Jason: A benefit to them is, if they are doing it properly as they should, vacant home insurance is not cheap. Very expensive. Having somebody in the home will reduce that significantly. We have had some vacant homes in years, and I know some of the premiums have been three and four hundred dollars a month on some of these houses. Where if somebody lived there it would probably be fifty.

JB: Right.

Jason: It is a substantial difference. That can be a help as well to the owner. There are many ways to do it. Some are more convenient that others. But all those things are options that are on the table that you can actually take a look at. That is what we have done in the past. Here is what we know for sure, Jean. You will not be without a place to sleep.

JB: there you go.

Jason: We will find a place for you to go even if it is just short-term. There are lots of options out there.

JB: Well, that is some good stuff, Jason. These seem like really good strategies for both sides of the sale. You mentioned now is the time to sell, Jason. Could you share some with our listeners some thoughts on why you think right now is the time?

Jason: I am just giving Jeff all kinds of credit today. Speaking of that storm, the perfect storm actually, it is really interesting what is going on in real estate right now, especially in that two-fifty to three-fifty range. To me, this is like your golden window right now in that two hundred fifty to three hundred fifty price range. We have got a lot of first-time home buyers hitting the market, and many of them of are going to do that in the next one hundred twenty days in this spring time, this spring market into summer. Probably more so than we have seen in the past two or three years, and part of that is we have got this great incentive out here for first-time homebuyers. The state has some money. How about eight thousand dollars? There is no about. It is exactly eight thousand dollars that they can participate in to help with down payment assistance. There are some rules. You can get in touch with us. Jason Bramblett dot com. We will send you to our lenders that can give you that. There are some income restrictions and things like that. But it is a pretty good incentive, and there are a lot of first-time homebuyers that are taking advantage of that. So, we are going to see that. You are going to get this trickle up effect.  We have got these people who are going from apartments or living in a home or a college dorm to buying. Well it is pushing everybody else to a different location, and typically, it pushes them up. So, we are going to see this really quick change in the next one hundred twenty days where we have many, many first-time buyers hitting the market, coming in, moving from temporary housing and rentals to a permanent place. So that two-fifty, three-fifty, maybe even the four hundred is going to be key real estate. So, we are excited to see that. The other thing is that money is cheap. It is still holding it down. Somehow. I do not know how. It seems like it has been like what, a decade that rates have been this cheap?

JB: It has been good. It has been a good decade.

Jason: It has been a good ride for cheap money. We do believe, based on what the Fed is saying that they are going to raise the rates, and that is going to change when? Who knows? I would have thought it would way before now. But anyway. And then lastly, you have inventory. Inventory is low, which is giving the appearance that demand is higher than normal.  Okay? Just because there is not as much to choose from. Sales are up a little bit. Not as much as you might think because of the scarcity, but that is just, that is smoke and mirrors, if you will. You can spin that a thousand different ways. But if you look at the real hard data, sales are up some. But it seems like everything is on fire because there is just not near as much noise out there to look at. There is not near as much distraction, if you will. If you take cheap money, low inventory, and hyped-up demand, that is pretty much the perfect storm for a home seller out there.

JB: Right.

Jason: You are in the sweet spot, probably better than it has been in three to five years. So this is a really good opportunity for you to potentially get an above average price for your home. A lot of that is emotionally-based. Of course, you still have to deal with the bank, and so just because you sell your home for more than you are asking does not mean the bank is going to agree with you. They do have these things called appraisals. And they are the one taking the risk, right?

JB: Right.

Jason: It may cost you thirty dollars more a month, but that is sixty grand to them. Right? And when they take the house back, that is real money. You want to buy the house so you can keep it, not so you can have it temporary.

JB: That is right.

Jason: That is what we do not want to do. Lastly, in this type of situation, having a really master negotiator and sales team behind you is even more important than when it is really hard. Like the ditch we just crawled out of for the past ten years. So just slinging that sign out there, I see this in these cycles. It is sad that I have been, you do this so long and it is like you see these things and you can predict them coming. But just slinging a sign out there with a discount real estate company is not really a great idea. There is a perception of saving, but it is a perception. So, just because you maybe are, do not think it is as hard as you maybe feel, if you will, does not mean there is not a lot of moving parts that are going on. Right?

JB: Right.

Jason: In the background. So, you have just got to be careful. There is this illusion that you are saving money, but I can assure you that it is just that. It is going to be an illusion, and I see so many people getting fooled when the market heats up. This speed of how things travel hides a lot of mistakes sometimes and a lot of issues, and some of those do not rear their pretty little head for a couple of years. But you have got to be careful. So even though there is a perceived savings, the real money is lost to really inexperience, lack of knowledge, lack of negotiation, the fact that they really do not care. You are a transaction. You are not a client or a friend. So, there is a difference there. Some of you guys will know exactly what I am talking about, and some will not, but that is okay. It is just the way that some people get. They are price shoppers and price shoppers only. In twenty years, I have seen this cycle happen again and again and again. I hate to see people making the same mistakes over and over. Sometimes it is the same people. Sometimes it is a generational thing.

JB: Right.

Jason: But, of course, our listeners, JB, being the smartest people in the Triad, would never make that mistake. Right?

JB: Oh yeah.

Jason: No way. They listen to the show.

JB: They are going to call you.

Jason: They are very well educated, right?

JB: They are.

Jason: They know exactly what they are doing. Absolutely. We are going to dig into some more stuff. Let’s go pay some bills. Take a quick time out.

JB: Sounds good.

Jason: We will be back here in just a minute. You can go to Jason Bramblett dot com. Shoot us a question. We will get an answer for you on the air. And we will be right back.

JB: And once again, we are live in the studio. If you have got a question or a comment about today’s program or just in general about real estate, you want to ask Jason, 882-7874, 882-7874. We will be right back. Thanks for listening to Jason Bramblett. Triad Real Estate 911. Stay with us. (in/out music) And welcome back to Triad Real Estate 911 with your host Jason Bramblett. JB along with you. Before the break, Jason, we were talking about some folks who really lost some money due to inexperience and we just want to help them out and help them be careful what to watch for.

Jason: Absolutely. Here is the thing, most owners, because we do not sell homes that often. Most people are only going to do this three or four times in their entire life.

JB: We do not do it every week.

Jason: Exactly. And you forget. I have folks that come and oh, I know what I am doing. I do not need a real estate agent. I have sold four houses. Yeah, you sold four houses over thirty years in three different states.

JB: Yeah, you are an expert.

Jason: Yes, right? Because there is not a law that has changed at all since the last time you sold.

JB: No.

Jason: Not a chance. They change every June. Every year. I can remember the state telling us one time, we have, and North Carolina is not easy in that we have one of the longest Offers to Purchase in any state. They came to us like we are going to go back to the old days. When I started it was a legal piece of paper front and back. That was it.

JB: Wow.

Jason: That was like the whole deal. It is thirteen pages now.

JB: Wow.

Jason: And they were going to shrink it. And they came back to us and said we are going to get this down because it is too long. We have looked at other states, and our stuff, we have got too, it went up like four pages since then. It is like I do not think it is going in the right direction, guys. Anyway, I know they are doing a great job in Raleigh. They are keeping us out of trouble, which is good. At least, that is the goal, right?

JB: Right.

Jason: But most owners do not realize what just a one percent discount does. And in reality, if you get an agent to drop their commission rate one percent, you actually just did a thirty-three percent incomes reduction to that agent. Thirty-three percent.

JB: Wow.

Jason: But that is before they do any work for you, by the way. Boy, that is exciting. Right?

JB: Yeah, that sure is.

Jason: You think about that. You go to work on Monday and your boss says hey JB, here is the deal. This week we are going to try something new. We are doing to pay you thirty-three percent less and we want you to do the same job as you did last week, and here is the thing. Yeah, maybe JB. I do not know.

JB: It sounds a bit right.

Jason: Your attitude might be a little bit different. You think JB might think twice before going the extra mile? You think JB might second guess doing every single step of the job because most people actually do more than what is required of them. Believe it or not. I know we do not think that sometimes, but actually most people do care about what they do, and they always do actually for the most part go the little extra mile. Unless they are just bitter about something like, I do not know, making thirty-three percent less. We do not think about that, but it is the reality of what you are pushing for.

JB: Right.

Jason: We see this when the market gets hot and the inventory is low. Here is the thing. It might possibly be a situation where that agent did not follow up on every single lead that came in on your house. He did not answer every single question that a prospect had about it. Maybe he did not field every email or field every call. He might just say it is what it is. Take it or leave it. But perhaps the buyer would have paid a premium had some professional person reached out to them to answer their questions to do the additional thing, and or if you keep pushing the commission down then you cannot have as many people helping you, so you lose administrative people. You lose support staff. Support staff that we have found over the years, when you have great support staff, you can actually do a much better job. You can field every single opportunity you have. You can provide greater and better service, which typically reaches back to the owner, the buyer and the seller, and getting better pricing. It is really just, it is not scientific, but it is pretty clear. When you have a twenty-year track record to look at you can say yeah, this supports these things actually benefits the client one hundred percent. But you cannot do that if you do not have revenue.

JB: That is right.

Jason: You start taking away large percentages here. Here is the thing. Most owners are just short-sighted in this, and they are tripping over big dollars to save a few bucks. Now, I get this sometimes, and I am sure somebody is driving out there and saying well Jason, that is a bunch of garbage because I can do math, and my math says that a one percent discount means I am going to save thirty-four hundred dollars. And thirty-four hundred dollars is not exactly just a few bucks. And again, it is the short-sightedness of it. I have been watching this for twenty years. It is an illusion that you have because you can do that math. What you cannot see is the math on the other side, especially when things are shifting. I find agents that get, that stick to their guns, especially on their commission structures and those types of things, actually always net the owners more money. It is interesting. You actually paid whatever the perceived rate, whatever they were charging, did not push them into a discounted situation, and you actually get more money back. It is interesting.

JB: Wow.

Jason: That is thousands and thousands of sales. The other thing is that is not unique to the Triad. We can go into any real estate market and we can look and see time and time again, you will actually net more money by not beating down the broker or agent on their fees. It is interesting about that. It goes back to the motivation of the person. It is hard to stay motivated when you are going to get hammered and work for thirty percent less.

JB: Right.

Jason: That is not fun. If you do not believe me, try it. Just go into work and just tell your boss this week, say hey, you can keep thirty-three percent of my check, and I am still going to be here. Love you, man. I do not think you are going to do it. Right?

JB: Nope.

Jason: So, it is not just one percent. It makes a very, very big difference. So those service providers that we have out there, we need to support those guys and I promise you mathematically we can show you time and time again where actually, you will actually lose by going this discounted route. Anyway, for what it is worth, keep plugging along out there, guys.

JB: Well, I will tell you what. We have got just a few minutes, Jason. You have got time for one more quick question?

Jason: Yes, sir.

JB: We have got one from George that just came in that says Jason, I have a larger home with twenty years of accumulation. I need help getting it ready to sell. Can you help me? I know you sell big homes because you sold the one down the street for seven hundred thousand dollars more. Well, good for you. That is awesome. I wonder if you or one of my associates could call me. I would greatly appreciate it. Thank you, George.

Jason: I know where George lives. I will not say, but I do. I have got a pretty good idea of what house that was. Oh man, George, twenty years of accumulation, man, have you seen how many storage places they are building around the Triad?

JB: I think in Wahlberg we call that stuff.

Jason: Stuff. Yes.

JB: Twenty years of stuff.

Jason: Stuff, and evidently, we like to keep our stuff because I cannot believe how many of these little storage building places are going up.

JB: One right down off sixty-eight right here.

Jason: Yeah. It is almost like the drug stores on the corner. It is like

JB: Or a mattress store.

Jason: Golly, yeah, there you go. If you are driving through and you are here for the furniture market, if you need a mattress, I think we have got you covered right here in the Triad.

JB: Hey, I love mattresses. I am a fan of every one of them.

Jason: That is right. But George, I tell you we are one hundred percent full service. We can absolutely help you. If we do not do it for you, we have the resources to help you out. Absolutely we want to make sure we help you declutter.

JB: Yes.

Jason: So that people can see that you have a house.

JB: Oh, there is a house.

Jason: And you have storage, and yes, we go in some houses like you have forty-two sets of sheets, and you have two beds. We just accumulate and acquire, right? We need to purge some things. So, we can help you with that. We actually have some great service providers that can come in and help as well through estate sales, tag sales, those types of things. We have got some with great references that we can help you out with. Our team is trained in helping you get through the first part of it. If it is really severe then we will bring in a specialist, if you will. But there are lots of things we can cover from roofing to helping purge things to we have handyman, whatever it is you need. We have been around a long time. We have built really good relationships with folks. Sometimes we replace people that do not do a good job for us. Hopefully, they have done that on my house and not yours. That is always what I attempt to do is to get them to mess up mine first, so we check them out. Go to Jason Bramblett dot com. You can get more information there. Look at the new houses we have hitting the market and send us your questions. We will answer them right here on the radio.

 

JB: Alright. Sounds great. Have a great weekend. We will talk to you to next week everybody.

Posted in Radio Show
March 31, 2018

03312018

Listen to the Podcast    JBRE Real Estate Radio

 

JB: Good morning and welcome to Triad Real Estate 911 with your host Jason Bramblett. I am JB, and for the next thirty minutes we are going to be talking all things real estate. Live in the studio this Saturday morning, which means you are welcome to join us in our conversation. If you have a comment or question for Jason Bramblett about anything dealing with realty, give us a call at 336-553-0796, 553-0796. We say good morning to the man with the plan, Mr. Jason Bramblett. Good morning.

Jason: Good morning, everybody. Everything is good?

JB: Everything is good, man. I tell you what people are, you know it is springtime. A lot of excitement. A lot of pollen in the air.

Jason: Yes.

JB: Along with all that gumption, people getting out, wanting to buy some houses, also that pollen count is up.

Jason: Yeah, man.

JB: Everything is going up right now.

Jason: Everything is going to be hot yellow pretty soon here.

JB: Yeah, it is.

Jason: No matter what color your car is, it will be yellow.

JB: It is that time of year. I think everybody has been looking forward, we have kind of had a rough winter. A lot of cold weather, so it is time to get out there and look at some houses.

Jason: And we are working on getting more and more to see. Everything is full court press, as they say.

JB: Hey, I like that.

Jason: I am still in my basketball mode a little bit. We have got to tie in the Final Four coming up.

JB: That is right, man. The game is tonight.

Jason: Right. And when is the final?

JB: Monday night.

Jason: Monday night.

JB: Yeah, they get the final two games today and then we will find out who is playing for the National Championship for Monday.

Jason: There you go. And unfortunately, my boys are not there. But that is alright. I think everybody’s bracket is destroyed in North Carolina.

JB: Boy, the weather is nice out here.

Jason: Exactly.

JB: Let’s not even go there.

Jason: That is it.

JB: No, it is all good.

Jason: And if you were voting for Michigan or Kansas, you are a fake North Carolinian. I will tell you that right now. You are a transplant.

JB: Uh oh, I think we lost a few there.

Jason: Hey, we are going to walk you through several things that are going to help you get your home sold. We are also going to get in and talk about these house prices. We have got some controversy in the marketplace.

JB: Uh oh.

Jason: We are going to shed some light on that. We have got some home sellers and buyers that are very upset about this whole pricing situation that we are in. So, we are going to dig into that. You can give us a call, 882-7874, if you have a question or go to Jason Bramblett dot com. If you do not want to call and get on the air, shoot me an email and I will be happy to answer your question on the air next week.

JB: Fair enough. Well let’s jump right in to selling the house, Jason. The season is here as we were talking about, and I need to sell. Where do I start?

Jason: Yes, sir. It is interesting what we are seeing in the marketplace. So, right now, many of our listeners probably have not sold a house in fifteen or twenty years. And that is kind of what we are seeing is the trend right now. A lot has changed, guys, in that time frame. That is the one thing that I know for sure is that nothing is the same as when you purchased twenty years ago for sure. Other than maybe your address. That might be it. And that is not a guarantee because the post office has changed some addresses actually.

JB: You never know.

Jason: I have seen that happen. Real estate is completely upside down from what it used to be. So, everything has changed. Not only in the past twenty years, truthfully, probably in the past three really. It has really, dynamically changed in the past three or four. So, nothing about the experience of when you purchased your home fifteen or twenty years ago is going to be the same. The buyers have changed in how they finance a house. Twenty years ago, a lot of folks would put five, ten, twenty percent down on a property. Now we are in this whole trend where three and a half seems like a good number for a lot of people, which is the minimum amount. And of course, we still do have these lovely one hundred percent loans out there that they are cranking them out like candy.

JB: Oh wow.

Jason: It is all well and good as long as you do not plan on moving for a while. So if you look at the amortization schedule, if you are just bored today, google that. Plug in your numbers, and then you actually expand the form. The interesting thing is when you do a one hundred percent loan, it takes about eleven years just to pay enough equity to probably to even just sell it. To where you could build up enough because so much of your money is going to interest. That is on a thirty-year loan. I know people that do that, and they hedge on appreciation, and of course, in the past year, that has been pretty good. In the past ten it has been horrible, and most of you have been upside down, and most of you are still upside down. We still have not climbed out of that. Why do they do it? Money is cheap, and buyers, it is just the way it is. When you get rates that are below five percent, people get creative, and they are not afraid to finance more than they normally would because the money is so cheap. And then on top of that, they will ask the seller to pay closing costs, which this is a really, especially for some of our more experienced listeners out here, oh, nobody paid my closing costs, Jason. That is ridiculous. Well, you might not sell your house if you do not pay the buyer’s closing costs today. That is how much it has changed. It has become the standard, the norm. Maybe one out of ten or fifteen loans or houses we sell, the buyer will pay their closing costs. It is very, very few though.

JB: Really? See, I did not know that.

Jason: Most buyers, again, it goes back to money is cheap, so they do not mind financing those. They are even willing to pay you just a little bit more for your house to add those closing costs in so they can wrap everything up into the payment. Okay? Again, it is like hey, not a really big deal. Because why? Money is cheap. So, it is interesting times, and it really changed when you look back over the history. But even, like I said, the past three or four years. The other thing, the time it takes to close on a house is actually from fifteen or twenty years ago, it is sixteen to eighteen days longer than it used to be. It used to be no problem fifteen, twenty years ago. We put a house under contract. It was like no big deal to close in thirty days. Now it is like, you could get some lenders to do it in two weeks.

JB: Right.

Jason: Not so much anymore. I mean, if you are paying cash, obviously no big deal. But if there is a bank involved, especially if is it government financing or a government loan, you are looking at that forty-five to sixty-day mark pretty regularly. And forty-five is kind of the new norm. And then you have this wonderful new thing called the due diligence period, which did not exist when you guys purchased, many of you purchased. So, this is the time in which the buyer could purchase a specific amount of time that is negotiated between the buyer and the seller to have everything checked out. It is whatever you guys agree to, but they will pay a number, whatever it may be. Five hundred bucks, two hundred bucks. I have seen people submit offers for ten dollars, and I am like really? Ten bucks. I am going to take my house of the market for three weeks for ten dollars. Uh, no. Anyway. You give them A for effort. That is all I can say. This specific time is a negotiated piece of time, and the buyer compensates the seller. Now the seller gets the money. They get to keep the money whether they buy the house or not. So, if I pay you five hundred dollars to do my due diligence and something comes up during that time and I decide I do not like your house, I do not even have to give you a reason. I can terminate the contract, walk away, you keep my five hundred bucks. Okay. That all sounds lovely until you get the cancellation notice, and then it is like well five hundred bucks. That is not really anything. That is where we are having some of the rub in negotiating some of these deals. So, this is something new for you folks that have not bought a home in the past ten, twelve, fifteen years. Due diligence did not even exist. So now we have got this, all these little nuances of changes, and it used to be people just well, we are just going to go for it. See what happens. It does not work that way so much anymore. It does not work that way well. That is for sure. Because I deal with a lot of you guys that attempt to sell your homes yourself, and then you call me after the deal blows, and it is like I am pretty much not going to do that again. So, the sellers are kind of in for a rude awakening when the buyer walks away and all they have got is a little bit of money. And then, of course, you have got the fact that this is huge. Now, listen to this. The North Carolina Offer to Purchase is no longer contingent at all on the buyer getting financing. That is kind of, that is hard to wrap your mind around because forever and a day, the buyer would get approved, right? And get this little letter and it says me, Joe Blow, can buy your house, and that is still something that we request. It is still something we ask for. However, if the buyer became unqualified at any time during the transaction, let me put it this way. You get your house under contract. You get five hundred dollars in due diligence. You get twenty-five hundred dollars of earnest money. Okay, so that is, everybody is familiar with earnest money. The due diligence is just this unusual thing, so I just tell them it is a non-refundable deposit. That mentally, I think, works for them. It is non-refundable deposit, earnest money, whatever, however you want to get it to get the word picture. But you have two different piles of money today. So, you get the five hundred due diligence. You have got the twenty-five hundred in earnest money. You fix everything that the buyer came up with. They had all their little inspections and all these issues, and you did it. You cleaned the carpet. You have done everything, and you get down. It is the day of closing, and you have got your truck full. You are getting ready to sign because you have got a house under contract contingent on your house closing. You are taking equity from this house to buy the next house. Everything is peachy. The Carolina skies are blue.

JB: It is honky-dory.

Jason: UNC just won a championship. It is like the deal, right?

JB: Right.

Jason: And then you get a phone call that says the buyer, something changed in the qualification, and they do not qualify for the loan anymore. And you are like what? And here is what you get, Mr. Seller. Now listen to this. This is way different. You get to keep three thousand dollars. You get to keep the five hundred dollars. You might have to fight them for the earnest money, but you should actually get it. It should be a pretty easy court case if you go. You are going to get the twenty-five hundred dollars because they breeched the contract, right?

JB: Right.

Jason: And then that is it. That is your sole remedy. It did not used to be that way. Fifteen years ago, there was no provision like that in the contract. Fifteen years ago, if you got to the closing table and somebody could not close, the seller had the option to sue them for damages. Like I had to move out of my house. I had to move back in my house. I just paid a builder twenty-five-thousand dollars non-refundable to customize a home for me that I do not get back because you cannot buy mine now. And they could go back and sue for damages. Now you get three thousand bucks.

JB: Wow.

Jason: That does not really pay for Two Guys and a Truck bring all your stuff back twice. Maybe three times. It has changed a lot. So now, you have got to be very, very cautious in what you are signing up for. And if you just fill out the Offer to Purchase like you did fifteen, twenty years ago in an attempt to sell your home, or even if you hire a real estate agent that may not have read the form, believe me, there are some that have not. That is why we had to put it in color. Some of them, we have these big red box warnings now because the black and white and the bold print just was not enough. It just did not cut it. Now we have color.

JB: Oh, man.

Jason: It is serious stuff now. Guys, this is a big deal. This is a huge, big deal.

JB: Right.

Jason: And you thought that you were just going to put a sign in the yard and let her rip. Not so

JB: Times have changed.

Jason: Times have changed, folks. You have got to be very cautious. You need to make sure you have a professional group of people behind you that actually know the law, know what the contract says to steer you away from these pitfalls. I will let you chew on that a minute. We are going to pay some bills. We will come back with some more. We will get out of the gloomy stuff. I am going to talk about some exciting things like price war.

JB: Hey, I like that.

Jason: There you go. That is going to be fun. Come back. Talk to us here at Triad Real Estate 911.

JB: Alright, stay with us folks. We will be right back. (in/out music) Welcome back. You are listening to Triad Real Estate 911 with Jason Bramblett. JB along with you. And of course, Jason is here. Before the break, Jason, we were talking about things have changed in the real estate market. You are not in Kansas in anymore.

Jason: That is it. That is it.

JB: Unless you are the Kansas basketball team, but you are sort of, kind of still in Kansas, but you know what I am talking about. Things have changed.

Jason: Things have changed for sure. There is no doubt. Especially in the past three or four years. If you think it is business as usual, unless you have just recently sold a house or bought one, not so much. Like I said, for many of our listeners, it is, lots of things have changed. I will not even say lots. How about completely changed? How about

JB: It is a one-eighty.

Jason: It is the other side of the paper. As a matter of fact, going back on it, I was just thinking. When I started in this business twenty years ago, the Offer to Purchase was a legal page front and back. That is it.

JB: That is it.

Jason: And every year, the state has told us we are going to, when it got to ten pages, they are like we are going to shrink this down because we have got the longest Offer to Purchase out of all fifty states. Now it is thirteen pages.

JB: Wow.

Jason: I am like, guys, we are going the wrong way. It is getting kind of crazy how much stuff is in there right now. Every paragraph is added because of a lawsuit just so you all know that. That is how they went from two to thirteen. Lots of stuff. Lots of changes. Anyway, sellers out there, you just have to be careful. And here is the thing. You need to be more proactive more than you have ever been because of the freedoms in which the buyer has to walk away from the deal.

JB: Right.

Jason: And what you think might not be a big deal because you have put up with it for ten years, I have seen buyers walk away from it, and then the seller is like what do you mean they are walking away? Well, they do not like the fact that you have got a pool in the basement. That is not what they were looking for. I had one lady tell me one day that she had, what did she call that? It was called a wet basement, but like that was an official thing.

JB: Oh really?

Jason: No, they are really hot supposed to leak at all. And she was like no, we put this little rail in and what happens is the water comes down the wall, it goes into this rail and it runs over into the sump pump and it kicks it out. It is supposed to do that. No, it is not. That is not a feature. It is not like a water fountain feature. You cannot keep a goldfish down there.

JB: Here is your sign.

Jason: Yeah. So no, you cannot have a wet basement. Nobody is googling that. Right? For an amenity anyway.

JB: Yeah, it is not Linville Caverns here. People are not paying admission to come see this.

Jason: That is right. Yeah, exactly. That stuff coming out of the block, that is not stalactites. That is a problem. That is a problem you have got there. Most owners actually have absolutely no clue what is going on with their house. It is amazing to me that you could live somewhere for twenty years or they are just good poker faces. One of the two. But when is the last time you have been in your crawl space? When is the last time you have been in your attic? Right?

JB: Right.

Jason: Here is something. This happened to me maybe ten years ago. I go meet the husband and wife. We go do a real quick run-through of the house. The husband is there. The wife is running a little behind. So, he is taking me through the house. We go upstairs. It is a big home. We go upstairs to the second floor, and we are walking through and he opens up a door, and he like wow, that is really cool! I am like this is set up really neat. I like the way she has got this decorated. It was good. We go in the next room and he was like I wondered where she, every room we went into was a surprise. I finally looked at him and I was like do you live here? He is like Jason, I have not been upstairs in five years. I have not been on the second floor of this house in five years.

JB: Wow.

Jason: And I was just like holy smokes. There is no way he has been in his crawl space either. Right? If you have not been to the second floor of your own house or into the attic, it is not going to happen. But it was the funniest thing. Every door he would open up, he was just like oh wow! Like he was seeing it for the first time.

JB: That is a great story.

Jason: People, don’t do those things. This is why you really should have your house pre-inspected.

JB: Right.

Jason: It is just smart business. We started doing this ten or twelve years ago. I had this epiphany. I am driving down the road. I am driving to an appointment and listening to ninety-four point five.

JB: There you go.

Jason: Because that is what smart people do, right? And BMW is on doing a commercial, and it says hey, BMW certified pre-owned cars hold their value thirty-three percent more than non-certified pre-owned BMWs because we do a one hundred twenty-nine-point inspection blah, blah, blah, blah, blah. I thought dang, if it works for BMWs it ought to work for a house.

JB: Right.

Jason: We started getting our houses checked out, diligently digging in and finding out what is right and what is wrong with it. And sure enough, it translates to real estate. Now, I do not get you thirty-three percent more for your house. I wish I could. It would be awesome. I would have all the houses for sale. I would. Sure. But we do see that it saves tremendous amounts of money for our clients. Huge amounts of money. Not only can you get more for your house, but you can also save more by putting it in your pocket. Now, I know everybody, but Jason. I hear that one a lot, too. But Jason

JB: I see one on the back there.

Jason: That is right. Everybody has got their hand up. Everybody knows the buyer is supposed to pay for the home inspection. Everybody knows it is the buyer’s responsibility to get the house checked out. Well, true. And to some degree, but you are also tripping over dollars to pick up pennies. You are so worried about a three hundred or four-hundred-dollar home inspection, and the fact that you do not see the preventative maintenance part of it? I guess it is kind of like folks that do not take vitamins and do not work out, and then they go and see the doctor and they are like yeah, you are falling apart. Duh. Right?

JB: Right.

Jason: If your health regimen is going from the office chair to the couch and watching TV for eight hours and eating HoHo’s, you are probably not going to check out too well when you go to the doctor, right?

JB: That is right.

Jason: Same thing with your house, guys. I cannot even, hundreds of thousands of dollars over these years, over this decade plus that we have been doing this that we have saved our sellers. Why? Because we find out what is right and what is wrong with their house, and then we diligently fix it. We take the time. Not only that. We are not under the gun. Like if the house is not even for sale and we have got a problem, we have all the time in the world to get it fixed.

JB: Right.

Jason: If we are in the due diligence under a contract and we have got to close in forty days, that forty days is coming whether we are ready or not.

JB: That is right.

Jason: What if it is a roofing issue, and you call your favorite roof guy and you find out that he is booked out three and a half weeks? So, then what do you do?  You go to somebody else that is a roofing company who is working out of their GMC rusted pickup truck. There we go. We will just leave it at that. So, guys, here is the other thing. When people are in a hurry and they got that pressure, they overpay for stuff because you have not had time to do your due diligence. Right? Think about it. Most of you guys, when you buy a car, a lot of folks will do some due diligence. They just do not walk into the lot and pay whatever. Right? There are a percentage of people that do that. Think about your vacation when you plan it. You take your time and you plan each step. Most people just do not walk out to PTI and say hey, you got any planes going somewhere? I would like to get on one of them.

JB: That is right.

Jason: We are going to go on vacation. Well, where do you want to go? I do not care. Pick a city. No, we do not do that, right?

JB: Right.

Jason: That is how we sell our houses a lot of times. We just throw it out there and well, we will just see what happens. Let her rip.

JB: Let her rip.

Jason: And then find out we have got a four-thousand-dollar foundation issue.

JB: Right.

Jason: And it is always the people that tell me there is nothing wrong with their house. Jason,

JB: It never fails.

Jason: Jason, Jason, we are respectable citizens of the United States of America, North Carolina, Greensboro or Winston-Salem. We take care of our stuff, and I can assure you there is no problem. As a matter of fact, my house is only six years old, Jason, and I can assure there is no problem with it. Okay. And then the buyer puts it under contract and it has got forty-nine thousand termite damage issues or there is water in the crawl space of your house that you have never went into the crawl space, but you just know because it is yours.

JB: Wow! There is a crawl space.

Jason: There is no way there could be a problem because it is mine. Well, let me assure you. Or the title. Here is something. Jason, we have owned this house. It is ours. When we bought it, there was nothing wrong with the title. Here is a clue for you. Some attorneys make mistakes. Hah. How about that? We just had one happen where we had to go find somebody in South Carolina. Thank God for Facebook and Zuckerberg and all the information he collects. Thank you very much, Mark. Anyway, guys, go to Jason Bramblett dot com. We have got more stuff. We will answer your questions next week right here. Everybody have an awesome week. Happy Easter.

JB: Happy Easter to you.

Jason: Enjoy it, enjoy it. Enjoy the seventy-degree weather. We will see you next week.

 

JB: Alrighty. Bye-bye.

Posted in Radio Show
March 24, 2018

FSBO Spring 2018

 

Listen to the podcast here:

 

JBRE Real Estate Show

 

JB: Good morning and welcome to Real Estate 911 with your host Jason Bramblett. I am JB, and for the next thirty minutes we are going to be talking all things real estate. We are live in the studio on this Saturday morning, and we invite your participation. Give us a call. The number here in the studio is 336-553-0796, 553-0796. We say good morning to the man who has always got a plan, Mr. Jason Bramblett. Good morning to you.

Jason: Good morning, good morning. And the plan is do not get rid of that snow shovel yet.

JB: Is this not crazy? I am done. I really am. It is usually kind of cute to get that late snowstorm or weather, but okay, I am over it.

Jason: Yeah, definitely.

JB: You now the robins are sitting out there with their little suitcases and they are ready to go back.

Jason: That is exactly right.

JB: You cannot do anything about it.

Jason: You cannot, but the good thing about North Carolina is you just sit around for a couple of hours and it will melt.

JB: If you do not like the weather, just wait twenty minutes.

Jason: That is it. Just like the weather, real estate is kind of all over the place, too.

JB: Really?

Jason: Yah, but it is not cold. It is kind of hot.

JB: That is good.

Jason: It is good. It is an interesting time. We have got the pitfall of a low inventory right now. That has frustrated some of our home buyers out there we are talking with. We are going to dig into that a little bit, and maybe you are listening and think well hey, if there is no inventory, maybe I should sell my house. Maybe you should.

JB: Maybe you should.

Jason: Maybe. We are going to get into that. This question comes up with low inventory. We see these owners attempting to sell their homes these days, which we have not seen in years and years and years. We get calls and the question is should I buy directly from an owner? Is it worth it? Can I save money? What is the big, what is the good, bad, and different? Sort of break that down a little bit and talk about is it a good idea. Is it not? I am sure everybody will so interested to hear a real estate guy’s opinion of that, right?

JB: That is right.

Jason: Absolutely. But it might be different than you think. So, you will just have to stay tuned to figure that out. Digging in to that. Multiple offers and man, all that and all your HGTV non-reality beliefs being squashed and more right here, right now.

JB: I like it.

Jason: Yes, sir. So, let’s dig in, man.

JB: Alright. Well, Jason, let’s dive into this barrel of fish. So, can I save money buying directly from an owner or not?

Jason: When the market heats up, we get this every year, but this year more often than not, or more so this year. Maybe, if it is your mom. It is always a possibility. I do not know. Maybe not. I do not know. I have seen some moms and dads sell houses to kids, and I am like, wow, you guys are coming out good on this one.

JB: That is right.

Jason: I think it is like hey, we have done taken care of you for twenty years, and I am going to get a little bit back.

JB: That is right. I like it.

Jason: But there is an amazing perception of saving money by buying real estate from the owner. And it is not just real estate. It is a lot of different things and a lot of different venues or products that people have the perceived thing that they are going to save money. So, we are going to break that down. But the interesting thing in the twenty years that I have been watching this, I rarely see any savings at all. At the end of the day, I just do not see a lot of benefit either way. We are going to dig into that. As a matter of fact, I have found that most people who purchase directly from an owner actually overpaid for the house, especially if you did it moving from out of state.

JB: Really?

Jason: Yeah, it is something about that. We carry our beliefs with us based upon our circumstances that we are in, right?

JB: That is right.

Jason: So we have had folks, and this has been years going back, but our market, let’s just face it, has not been that great for a long, long time. But we have had people moving from other places where the market was really, really hot, and you would put a house on the market and it was gone in minutes. I have seen them come into this market and maybe approach a For Sale By Owner, and the For Sale By Owner is doing it because he is so far upside down he cannot afford to pay two cents to anybody to get the house sold, and he is still going to have to write a check, but then these out-of-state buyers come in and well, they just pay whatever they got to pay because their perception is everything is going up, and they do not have that knowledge. I have been seeing that over that years and it is, unfortunately, they do not realize they overpaid until they go to sell it. And of course, in the last ten years, our market was still dropping. But anyway, having done hundreds of short sales over the years, it is interesting the things that I see in common. One of them is a lot of them were approached directly from the owner. The other one is they were all thirty-year loans. I have done hundreds of these things, and in twenty years’ time, I have never seen a fifteen-year mortgage go in default for, ever, I mean, on anything. But these thirty-year loans, and most of them are FHA and VA, so a little bit of money down, and then the market shifts and then you are upside down, and then you end up having to do a short sale because you got transferred to wherever. Tennessee. But the interesting thing is when folks did a fifteen-year loan, they just did not have that issue. There is a little wisdom for you. If you would, with interest rates so low right now, and everything that we are hearing says that they are going to go up, maybe it is a good time to refinance. Not necessarily to get a better rate. How about to lower the term? That is still a good idea.

JB: Yeah.

Jason: Even if you had a thirty-year loan and three point two five, and you refinanced to a fifteen-year at four percent, you still come out ahead. Even though that rate is higher, you just reduced the amount of years tremendously. If you need some help with that math, I will be happy to walk you through that and or certainly one of our lender partners. Dave Held with Caliber will be glad to run you through that. He has been a guest here on the show often, and he can help you with that math. But it is good math because it gets you equity in your home, and then you get to stay if something goes bad. Or you get to get rid of it. Either way. Anyway, be careful if you are moving here from out-of-state, or anywhere from out-of-state and you are not dealing with someone who can guide you through the local real estate market. I am sure some of you guys are like, well duh, Jason, of course you think it is stupid to buy directly from an owner because that kind of cuts you guys out. Well, actually, I kind of look it as you can do surgery on yourself, right?

JB: Right. You know how that goes.

Jason: I do not necessarily think it is the same or advisable, right? Or you could pull your own teeth. Right. I do not recommend these things, and there are certain things I do not recommend. Working through a sales person, dealing, here is where the breakdown is, and here is where we lose focus sometimes. There is the perception that we are going to save this tremendous amount of money in this real estate commission. The problem is it is one pool of money and two people fighting for it. That usually does not work out well. Sometimes we have got to get southern with and we have just give people word pictures. If we had one biscuit, JB

JB: Okay.

Jason: Right.

JB: You are talking my language.

Jason: Exactly. If we have got one biscuit, we are going to save, somebody is going to save something, right? Well, you could split it in half. Right? But you are still getting half and half, right? Is anybody really saving though? It is a neutral. It is an even. I could chop it three quarters one way and twenty-five percent the other way, right, but then somebody is getting more and somebody is getting less.

JB: Right.

Jason: Because it is the same biscuit. It is not necessarily a win-win all the way around, and most owners have the perception that I am going to net more money because I do not have to pay a real estate agent. But then the buyer comes along and says, huh, you do not have a real estate agent, therefore, guess what? I can offer less because this person is not involved. Therefore, I want to put the money in my pocket. The problem is it is the same biscuit. It does not work, right? So, we have this perception of well, because I did not pay, I won. No. Most of the time the math still works out not so much that you did. You just discounted the house and passed that along maybe the buyer or maybe the, anyway. It is an interesting conundrum that, and again, it is just this perceived thing that some of our owners and buyers get into, but in actuality, no, it does not happen. We have talked, I have used this word picture a lot. Doing this yourself is kind of like painting your house. We have talked about painting your house. Some of you absolutely, ninety-nine percent of you should never, never, never, ever, ever, ever paint your house because there is a difference between painting and then schmearing color on a wall. Most of you got the second part down. It is the, maybe you even got the right color. It is the application part where you kind of fell off the wagon, if you will. So just as I have said before, there are certain things, you should not operate on yourself. You probably should not pull your own teeth, and most of you should not paint your home. Let’s face it. If you go to DC, the kids, what do they call them, finger paintings, yeah, they do not put those in the museum. They are cute. They look good on the refrigerator for Grandma and Grandpa, but no so much. The quality is different, right?

JB: Exactly.

Jason: And that is the thing. So, the reason that we typically see this failing it is just pool of money, and it is just too tough. You cannot have both winning with the same thing. The buyers will typically say to me or the question I get is they kind of figured this out. The sellers are a little slower, but the buyers figured this out a little quicker. They will just kind of scratch their head like well, if there is no agent involved, and I get, if I buy from the seller, am I really getting any kind of deal? Well, in theory, I guess you could say you are getting a little bit of savings perhaps. But do you know all the pitfalls to look for in looking for a house? Do you have another set of eyes? Right? And that is why it is always important I think to have a third party in there because it can keep you from overpaying. It is interesting. These are not my stats. You can pull these up from a hundred different places. You can pull them up on Zillow, Realtor dot com, the National Association of Realtors, all these different places. But these big think tank companies they have money to spend on lots of surveys and lots of different things, and one of the things that they track and they look at is how much money does somebody really save in selling their home. And actually what they found out is they do not save anything.  Traditionally, a real estate broker, whether it be commercially or residentially, will actually get someone sixteen percent more for their property than doing it for themselves. That is pretty significant.

JB: It is. You start doing the math on that, that is crazy.

Jason: Yeah, that is a little bit more than I am going to save a little bit here and there. Again, that is not my numbers. That is all these people who have got more money and more time than me to run all these surveys.

JB: That is right.

Jason: I can just do simple math and look at closing statements and go, yeah, you lost, you won, and that is it. But these bigger companies, they have got the time to spin the wheels, and that is a nationwide statistic. I am sure somebody is out there that has a great story to tell me how they just killed it and saved everything and made a whole bunch of money. There is always those, too. And good for you if you did. But for most people, it just does not work out that way. I have had people where they priced their house wrong. I remember I had a lady call me to let me know they were not going to need our services. I was like okay, I understand. What happened? She goes, well, we just sold it ourselves. It is not hard. It is not like you are a PhD, Jason, give me a break. You took a stupid test and got a license.

JB: Right.

Jason: I mean, come on, what do you pay, like fifty dollars a year to have that stupid thing? It is not rocket science to sell a house.

JB: Right.

Jason: And then three weeks later she calls me and says is there a legal way to break a contract? And I am like well, yeah, if everybody agrees to do it you can mutually get out of it. But I said what is the problem? She goes, oh, well, we sold the house and they just got their appraisal back, and it appraised for $22,000 more than the contract price. I said wow. Well, you know what the good news about that is? She is like what? I said, you did not have to pay any real estate commission. But the problem was that real estate commission was a heck of a lot lower than that twenty thousand dollars.

JB: That is right.

Jason: So sometimes you can do it yourself, but you can do it wrong. I am not saying that is the case all the time, but I have had many of those phone calls over the years. The other thing, too, is most people do not deal with face-to-face negotiations too well, and they breakdown. Hence, we have this thing called Facebook, where all these superheroes live that are saving the world, and they will just tell you how it is.

JB: Everybody is ten foot tall and bulletproof.

Jason: Exactly. But they will not do that at the job. It is amazing how powerful you can be on Facebook, right?

JB: Oh yeah.

Jason: Maybe we should have a real estate negotiation Facebook page. Maybe that is it.  Everybody can get on there and tear each other up, right? It is different when you are face-to-face and things change. Having that confrontation up from when it is your personal property makes it tough. Having that third-party negotiator in there can be hugely beneficial because well, let’s face it. We do not have the emotion in that. We are going to dig into a few more things. We are going to pay some bills. We will be back in just a minute. You are listening to Triad Real Estate 911.

JB: Stay with us. (in/out music) Welcome back. You are listening to Real Estate 911 with your host Jason Bramblett. I am JB. Jason, we are reading inventory levels are down all over the country. It appears that the Triad has also fallen into a low inventory situation. What should our listeners wanting to buy a home do right now?

Jason: It is very interesting everything I am reading. This is the new normal for like the next three years.

JB: Oh really?

Jason: And I do not see anything that is going to push that inventory up, especially here in the Triad. So nationwide, we are kind of in the same thing. So, if you are waiting for the perfect house to hit the market, man, you are not alone. Right now, we are seeing six to ten buyers for every home that is available. That is kind of crazy.

JB: Yeah, it is.

Jason: What happens when, that sounds great and that is exciting, and then there is the other side of that yeah, there is a dark side to multiple offers, and it is not everything you may think it is. So, you have to be prepared for multiple offers, and this is a learning curve for buyers and sellers because paying above list price for a house does not necessarily means it is great because it may not appraise. Right? If you are paying cash, let her rip, buddy. It makes no difference. I just have not found a lot of people that pay cash that usually go up. Something about in the perception of cash is discount. I am paying you cash, I should get a better deal, right? That is just kind of how we are ingrained as Americans.

JB: I do not know why, but it is.

Jason: It is the way it is. There are some major roadblocks that you kind of got to get through mentally, and this is where a true professional agent can actually help you get through to get a house because there is going to be some competition. You need someone to help you structure your offer so that you can win. It is an art form, and also there has to be a strategy behind that. Most people would say well, Jason, duh. You just offer the most. Are you kidding me? Yeah, well, not so much. No, I am not, and you actually could be wrong. Unless you are paying cash. If you are paying cash, then nobody really cares. Nobody is checking behind you. It is your money. Do what you want. Unfortunately, there are these things called banks. And when you go to get a loan from them, they actually do care. That is why they have appraisals. You thought the appraisal was there to protect you. Wrong. It is there to protect the bank because that is the deal. You have heard of this golden rule. Those that have the gold, rule.

JB: I like it.

Jason: So just because you are willing to pay considerably more for the house does not mean the folks over at the bank are going to sign up for the ride with you.

JB: That is right.

Jason: That is good because we do not end up with what maybe happened last time when the market decided to crash. When they decided that if you could breathe air, we would give you money. Therefore, hopefully we have learned our lesson, maybe not. We do have some protections in there. And here is the thing. I know most people would be like well, you know Jason, it is only one hundred more dollars more per month. I can afford this, so let’s just go up on the price. It is not that big of a deal. I will go out to eat one less time a month and I will have that extra hundred dollars. Well, the problem is that extra hundred dollars is about forty thousand bucks, and just because you want to pay an extra one hundred a month does not mean the bank is going to be willing to give you forty grand more than the asking price. Right?

JB: That is right.

Jason: You have to look at the risk reward. What the bank will do is they will let you pay that difference all day long. They think that is a good idea as a matter of fact.

JB: Yeah, they like that.

Jason: As long as it is your money, who cares?

JB: That is right.

Jason: The problem is most of the people buying out here right now do not have anything called money. They have got credit, they have really good credit. They have a little bit of money, but then they have this puppy called Sallie Mae kind of following them around, and Sallie, she got teeth. She is going to be with them for a while. She is a long-term pet. They have got to get that thing off their back eventually, get those student loans taken care of, and that does hinder some of your buying power for sure. That is a frustration that we see. Just because you can qualify to pay that extra one hundred dollars does not mean the bank is going to loan you above the asking price. So, you need to be prepared for them.  This is a frustration we see for buyers and sellers because money is cheap, and it is not a big deal. For a few hundred bucks, you can borrow a lot of money. It has been that way for a while. But the bank has to have those safeguards in there to make sure that they are not sticking their neck out too far, and this is where the deals start to fall apart. Owners get excited. They will jump all over, oh this is the highest offer. Let’s go with this. The problem is is it going to stick. Is it really going to go through?

JB: Right.

Jason: Or in three weeks when we get the appraisal back, are we going to be right back to the drawing board? Maybe there was another offer with different terms, different type of appraisal, different type of loan that could have netted you more money. That is where we dig in and that is where we really can show you through experience that sometimes you have just got to look at all the moving parts of the offers. That is the key thing. That is the key thing.

JB: Well, Jason, I know that you are looking to add some to your inventory of homes. Where are the buyers looking to purchase right now?

Jason: Right now, JB, we cover 37 cities and towns all across the Triad. So basically, if you hear my voice, we have got people looking to buy or sell in your marketplace. Right now, we have more people looking to buy because there are just not as many homes. So, if you pretty much hear my voice on the radio, we need to talk because we need to show them your house. Right?

JB: Right.

Jason: Especially in the four hundred thousand and up range. Right now, we have got a shortage of four hundred to a million. Man, we definitely want to talk to you because we have folks that are on our website crawling every day, looking in these price ranges and it is just kind of slim pickings. So, if you are in a six, seven, eight hundred thousand dollar house, even up to a million, over a million, meh, we get some, not so much. But in that four to eight hundred thousand range right now is hot. So, if you have a home in that price range, and you are thinking about selling it, pretty much anywhere from Bermuda Run to Mebane to Asheboro to the Virginia line, we want to talk to you. We have got hundreds and hundreds of people flooding our website saying hey where are all the houses at? We need to connect you guys. Also, personally, myself, we are adding to our inventory. So, I am looking to purchase pretty much anywhere in the Triad. So, if you have got a home that is a great house and you are just like you know what? I really just do not want to deal with this whole showing and dealing with people and strangers walking through my house and all that. Give us a call. I am in the market to purchase homes pretty much anywhere in the Triad, and I would like to take a look at yours. I do not buy homes with wheels, so if you have wheels on it, not me. But single-family house, apartments, we would love to talk to you. You can reach me at the office. It is 553-0796. If you have a home in that four hundred to eight hundred thousand dollar range, and you are considering selling it, give us a call because we do have hundreds and hundreds of people flooding our website looking for a home probably just like yours. We just need to connect you guys and get everybody moving in the right direction. So, you can reach us at the office. Again, it is 553-0796 or go to Jason Bramblett dot com. We will be back next week unless we get snowed in. Otherwise, we will be here.

JB: You said the word. Do not say that word.

 

Jason: I reprieve it. Everybody have a great weekend.

Posted in Radio Show
March 3, 2018

2018 Spring Checklist

Listen to the Podcast now:

Jason Bramblett Real Estate

 

 

JB: Good morning and welcome to Real Estate 911 with your host Jason Bramblett. For the next thirty minutes we are going to be talking all things real estate with our host Jason Bramblett, and we invite your calls, questions and comments. We are live in the studio this morning, 336-553-0796 is the number if you have a question or comment. 553-0796. And with that, we say good morning to the man who has always got a plan, Mr. Jason Bramblett. Good morning.

Jason: Good morning everybody. Everybody is good.  Everything is lovely as they say.

JB: Yeah, everything, after we tied everything down after the past couple of days with the wind. Put up all the cushions off the back porch. We are already set to go and buy some houses.

Jason: And your neighbor’s cushions, too, right?

JB: Yeah, that is right.

Jason: They came over for a visit. It was crazy windy, what was it? Yesterday?

JB: Yeah. Friday morning, early morning, we ended up with the trampoline in the pond behind the house. It happened to be ours. It is okay. It is all good.

Jason: It is a new water sport. That is it.

JB: Who would think that those trampolines could become a flying saucer?

Jason: That is right. So true. The trampoline, it happens a lot. We have seen those flying down the neighborhoods before for sure. One thing that people get really upset about with their home inspections is a lot of times they will have the deck on a house, it is supposed to be bolted, and it is bolted about every sixteen feet on center, if you will. Or sixteen inches on center. People get upset because they are just nailed to the house, and what happens is you get that wind lift and it will actually pick up a deck and relocate it if you are not careful.

JB: Absolutely.

Jason: Hence the reason for these carriage bolts that we have now on these things. Anyway, hopefully, no one had that experience Friday. But I have seen where it has just picked up a ten by ten deck and just kind of moved it over a little bit, and you would not think that could happen when it is concreted in the ground and everything. But I tell you, that wind, it can remove some things pretty quick.

JB: You do not mess with Mother Nature.

Jason: That is for sure. We have got a lot of, last week’s show, I must have stirred the pot pretty good because we got a lot of questions that came into the office via email and or calls. So we are going to knock out some of those and dig into your responses. We talked about interest rates. They have climbed up a little bit. So if you are in that home buying process, you may want to take a look at your interest rates, and sometimes, here is where frustration can happen is what you are told when you first meet with the lender and then what the rate is when you go to lock it in when you found the house, if there is a large gap in that timeframe, that interest rate could change quite a bit. Now obviously, if we went down you are not upset. But when it goes up, you get a little testy.

JB: Absolutely.

Jason: It is not the mortgage guy’s fault. It is the market. It is just the way things are. We have seen them bump basically a half percent in just a few weeks. So if you talked to your lender in the first of February, you might be surprised what you are going to get now.

JB: That is right.

Jason: So anyway, it is just the way things are going.

JB: Alright. Well, you want to start with an email?

Jason: Yeah, let’s do it.

JB: Alright. Well, let’s get it going. We have got something from Jack. Jack has emailed, and he says, Dear Mr. Bramblett, I listen to your show every Saturday morning. Thank you very much for that. And this past week you mentioned updating the kitchen. I am considering putting in granite, and I would like to know what color you suggest. Thank you, Jack.

Jason: Thank you for listening, Jack, actually. It is good that we have got two people out here now that listen to the show. But anyway. Color is unique to the style of the kitchen. What we need to do is look and see what things we need to factor in. Your kitchen cabinets, what are the design and actual colors of those things, and then also, neutral is probably going to be the best way to go. When you have a neutral color, if you will, it is just going to appeal to more of the masses. I always like to stay within that color profile that gives you the largest blanket, if you will. I would not go extreme. A lot of these granites have lots of different flecks of gold in them and different stuff like that. I would try to stay as neutral as possible. The good thing is granite prices have come way down over the years, and it has become a really affordable product for just about anybody. But I would not spend a lot of money on some of the other stuff, too, that you will try to get upsold, I guess, if you will.

JB: Right.

Jason:  The fancy corners and the fancy like a bull-nosed edge and all. Just square edge is good. So you can pay a lot of extra money for these other things that are not really necessary, in my opinion, anyway. I do not see it really affecting the sale of a home either way. Stay within that neutral color palette. And you can ask the guys that are selling it. What is popular? And take a look at it. It has changed. It used to be that Black Uba Tuba was the only kind of granite you could find in a house. Now, it has changed and there are lots of different looks. The other thing too I would not do, which this fad I am seeing go away. Do not get the granite backsplash.

JB: Right.

Jason: Because that, it will free you up to do things with tile and other stuff down the road. I am seeing that kind of phase out and go away. We have got a caller, JB?

JB: Yeah, I think we have a caller. Let’s go to Toni is on the line. Toni? Are you there?

Toni: Yes, good morning, Jason. My name is Toni, and you in part, have already addressed this question. My husband and I are getting ready to place our house on the market in the fall, and I have been, I have known for a quite a while, but obviously what goes up is going to come down and vice versa in our market. And you have addressed this in part. But I am concerned, maybe not concerned, but I am noticing that the rates are going up, and for us as sellers, that obviously is a direct impact into or a correlation to if the rates go up, a lot of people are going to wait until they go down again. Have you seen, my question is, have you seen since well, January, I think they went up in January, correct me if I am wrong, have you seen already an impact of people not purchasing houses because the interest rates have gone up?

Jason: Yeah, but maybe quite not yet. Not a total stop in purchasing. But here is what will happen. As the rates go up, people’s buying power is diminished. If they were looking in the $250,000 range and interest rates go up, let’s just say they go up one percent. That is going to drop their buying power down closer to $200,000 if they want to stay within the same payment range. So that is where we will see some pushback, Toni, in that way. It would be a frustration in that people went out and they looked at these homes. Let’s say they did a little looking in the fall when interest rates were four percent, and now they are getting closer to five, and what they had their heart set on is a $250,000 house, but now their budget does not line up with that emotion, and so that becomes a frustration. So those are the people that may park and sit on the sidelines for a while. But it typically has to be a good one percent change in the market before we really see people pull back and stop. Now the other thing I will tell you, Toni, is what we do see with rates changing either up or down, it does get people moving.

JB: It gets people’s attention.

Jason: Absolutely. Well, it becomes a sense of urgency to do something.

JB: Sure. Right.

Jason: Whether they go up really quick, people move, and they are like oh, I better do something before they really go up.

JB: Right.

Jason: Or if they went up maybe like they have and they start to come down, it will push people to take action because they are like oh, it is going down. We had better jump while we can.

JB: Right.

Jason: It is when they do not do anything that stagnates the market. So up or down, actually can be good. Now if it is really way up, one to two percent, that can kind of stifle things, if you will. But the good thing, Toni, I will say is inventory is low, so that will also help bridge us through the interest rate change with the inventory being down as a much as it is. I think in the fall, you are probably going to be looking at, I think it is going to be a good year all year long. I think we are going to stay steady. The rate will go up, but I think that it will push some people out into the market that are not out there. I hope that answers your question.

Toni: Okay. Yes, you did. Thank you and I love your show.

Jason; Well, thank you so much, and have a great rest of your weekend.

Toni: Thank you.

Jason: Alrighty.

JB: Thank you, Toni. Bye-bye. Alright, thanks for Toni for calling into the show. And of course, if you have question or comment, 882-7874.

Jason: Let me just touch on this, JB. Because I hope I did answer her question, and there is that fear that some owners have. I guess it does, a lot of it, remember is supply and demand, so it does come back to inventory.

JB: Sure.

Jason: Right now, we are in this unusual place that we have not been in a long time in the Triad, which is low inventory. It is really kind of a nationwide epidemic everywhere I am looking is inventory is low nationwide. It can offset a rising interest rate.

JB: Right.

Jason: Just because of that lack of inventory out there. Now, you do not want it to get so low to where there is just, that it just frustrates people as well, and they do not want to do anything just because they are like I am not moving because there is nothing to buy.

JB: Right.

Jason: We are seeing that in some price ranges, especially folks that are wanting to downsize. What they are wanting to downsize to is just not available. So we will just wait, or you will have to make the decision well, I cannot find what I want, so I am just going to build. And that is not a bad option either. At least with building, you can get it just the way you want it.

JB: Right.

Jason; For the most part anyway.

JB: Alright.

Jason: So always options out there.

JB: Always. Well, we have got another question in. Do you want to go there?

Jason: Let’s do it.

JB: Betty is writing in. It says, Jason, we are considering having our cabinets painted instead of replaced. Have you seen this doe, and how do buyers react to painted cabinets? That is a good question.

Jason: It is a good question. Thank you, Betty. The key with this particular job is the prep work.

JB: Right.

Jason: So what I have found is this a specialized, in my opinion, and I could be wrong. I will just tell you what I have seen. I have seen the folks that have hired a professional that specializes in painting cabinets, and I have seen folks that have hired painters.

JB: Called their friend Bob.

Jason: Yeah, maybe so.

JB: Nothing against you, Bob.

Jason: Sorry, Bob. It is a big difference. It is a big, big difference. It is kind of like the same thing that I have been saying for years. Applying paint to a wall does not make you a painter. Right? Because a lot of you do a good job at schmearing stuff around, especially get it on the ceiling. No, but it is amazing. It does not even matter the price point. I have walked into $500,000 houses and I am like holy smokes. What happened here? It is just, I get it. Some guy is like I can do this. I watched it on

JB: I saw it on TV. Right?

Jason: That is right. But the cabinets, I have seen some absolutely fantastic painted cabinets that look like seriously they were done in a factory. Just absolutely amazing. I think the key is you have got to have the right wood. Okay. One that they actually are wood. That is helpful that they actually have to be a wood product. So you can get it, there are so many different types of cabinets quality-wise. So I think you have to have a good quality. More than likely, Betty has a higher-end home, or an older house. Here is something else that we see is you want to make sure they did not come out of the DIY garage, right?

JB: Right.

Jason: That is the really, at the end of the day, what is that finished product. And this is somebody that you want to get probably some testimonials from. Maybe talk to a past client. Maybe if they really have a good relationship is maybe you can actually go to a house and see what the finished product looks like.

JB: Right. Right.

Jason: The cool thing about painting a cabinet is there are absolutely no limitations to what you can do. You can make them anything. I have seen some really good stuff. If you are talking, if you have got a kitchen that has got fifty, sixty thousand dollars’ worth of cabinets in it and you want to change the look maybe to get more up to date or in style, you can get them painted. It is going to cost you several thousands of dollars, but it is lot cheaper than sixty thousand dollars’ worth of cabinets, too. It makes a big difference. You can really change the look on a pretty good budget. The key is going to be getting the right person. That is going to be key. We have got some folks that we can recommend if you want to have somebody come out and take a look at that. We have some folks that we have seen some really good product come out. And I have seen some that are just woo, buddy. The guy that is painting the outside of your house may not be the guy who does the cabinets on the inside. Right?

JB: Right.

Jason: So just think about that. Let’s do this, JB. Let’s take a quick time out. Go pay some bills. We are going to come back with more of your calls, your questions, right here on Triad Real Estate 911. It is 882-7874.

JB: Alright. We will be right back. Stay with us everybody. (in/out music) And welcome back. You are listening to Real Estate 911 with your host Jason Bramblett. I am JB and let’s jump right back into it. Jason, if you look outside, you can tell the flowers and the trees are already popping up. We are getting close to springtime.

Jason: Absolutely.

JB: So let’s talk about some good tips to have the yard looking right for this spring selling season.

Jason: Absolutely. It is important because it is that curb appeal, right?

JB: Yeah.

Jason: Remember folks. Curb appeal is not necessarily what it used to be back when I started in real estate. You used to have to leave your house and drive and look at stuff. Now, you do not.

JB: Now you can just look. Go on this little magic box.

Jason: Exactly. This magic box that will drop you right in somebody’s

JB: Or a magic phone.

Jason: Right in somebody’s front yard, right. And you can almost see how crazy the neighbors are without ever having to leave your house, right?

JB: You can even look inside their bathroom, and it is amazing.

Jason: It is amazing. It is amazing. So there are lots of little, I guess what is the right word? Little nuances that you have to pay attention to because when you are driving by a house, you see it, you are not typically going to stop and stalk, right? You drive slow, but you are still moving. The internet just is there. So people will kind of hone in on things that do not look right. When you are looking at the front yard, you need to think about a still picture and curb appeal and you want it in which it is going to capture people’s attention.

JB: Right.

Jason: Not their imagination. We want to get their attention. You want to make sure you have a very well-manicured lawn. We recommend, before we send our photographer out, that you have the grass is trimmed and all the dead branches are picked up. Thinning out is typically what we do more than anything else. Getting rid of stuff. We tend to overdo our yards sometimes. The other thing too, I have had some amazing gardeners and some of the backyards that I have seen are just, it is just like going to a park almost.

JB: Right. It is incredible.

Jason: But that can be intimidating for someone that does not have a green thumb. I remember many years ago I sold a home in High Point, and the backyard was just absolutely amazing to look at. No one would buy the house because they were like I do not want to deal with that. It looked like a full-time job.

JB: Exactly.

Jason: When you got to looking at it, it did look like a full-time job. So we actually worked out a deal where it was actually wonderful for everybody. The people that were moving from High Point were moving to South Carolina, and they were able to take like seventy percent of their backyard with them because the people that were buying the house did not want any of it.

JB: Wow.

Jason: So all that money that, thousands and thousands of dollars that she had invested in different types of plants and all these things this particular homebuyer just wanted grass. He did not want the islands and all these other things. They came and uprooted everything and took it with them. We planted some grass seed, and everybody was happy. You never know. If you have a lush, lush landscaped yard that may be a sales tip there for you that perhaps if you want to take some of that with you. Not everything, but some folks are just turned off by that. Or they just look at it and say I am just going to kill it anyway, so you might as well take it with you.

JB: That is right. There you go.

Jason: Think about that. Get to the curb. Take a step back and not only just the lawn but take a look at the house. We have talked about the shutters. Making sure the shutters are the same color is key because sometimes they fade out a little bit. So you want to make sure you have that nice, crisp look. I do not know what is up with some of the houses I have seen lately, but you might want to just have shutters.

JB: Yeah.

Jason: I saw a few that are online the other day and they did not have any. It was like why does this house look so weird? It did not have any shutters, and it looked

JB: Kind of strange.

Jason: Yeah, it looked out of place. I do not know if they were replacing them and the photo got taken in the in-between time but think about those things. Again, you want to appeal to as many people as possible because that is what is going to give you the greatest results to get as many offers as possible on your house. So the more unique you make it, you just continue to isolate yourself and shrink your buyer pool.

JB: Right.

Jason: So as much as you can, if you decided to paint your cabinets, paisley pink is not going to appeal to the masses, right?

JB: Right.

Jason: It may look really cool and you may love it, but you might be the only one.

JB: And that is the whole crux of it sometimes, I believe, and we have talked about this Jason. People, especially when you are selling, people become emotionally attached to their cabinets or their flowers or anything. It is hard to think outside the box sometimes that maybe the people buying your home do not want that, but you have put so much time and effort into it. So you have kind of have to, it is hard sometimes to take the emotion out of it.

Jason: Oh, it is. Absolutely. Especially if a family member is the one that has done the work or built the bookcase or whatever.

JB: A lot of sweat equity went into that. It is hard to let that go and you cannot fathom that somebody would not want that there for whatever reason.

Jason: Right. Exactly. I had some older clients, sweet as pie, and she just, oh man, this house was so dated. It had shag carpet that you needed a rake for. It was like three inches thick, but they had a, I had never seen this before, this was going back to the seventies I guess, but in the countertop, they had a base for a blender in the countertop. You put your Kitchenaid, they must have blended a lot of stuff.

JB: I guess so.

Jason: It just is not something you normally see.

JB: A blending bunch of fools over there.

Jason: Exactly, even before it became popular with the Ninja blender or whatever is out there. Right? But they had this thing that was mounted in the countertop. It was just unusual. Shag carpet and floral, this floral thing painted on the wood floors in the kitchen. I was just like holy smokes, and it was just really dated. I told, Martha was her name, I said Martha, this is not going to appeal to very many people. We need to make it, she just did not understand. She was like all my friends love it. But none of your friends are buying your house.

JB: Right. Right.

Jason: And her friends were of her same demographic. It did appeal, but we were looking for the highest possible price we could get, and that was not going to appeal to the young folks that wanted to be in his neighborhood.

JB: Exactly.

Jason: So we had to make some changes and it took some time. And we did get the house sold.

JB: Good.

Jason: But it did take some time to get there. And you are right. That is where a good, professional real estate agent can help you bust through that emotional tie, and sometimes yeah, you can take it with you. We have worked that out, too. So if you love it, hey, it will look great in the new house.

JB: There you go.

Jason: You can take that bookcase right on there with you. But that is what we are here to help to get you through those emotional steps. Because it is definitely an emotional move when you are talking about your personal home. So tune in next week. We will be right here right back. Jason Bramblett dot com for questions. Shoot them over. We will put them on air, and everybody have an awesome weekend. It is going to be fantastic. Spring is right around the corner.

JB: There you go. Great show. We will talk to you next week. Thanks for listening everyone.

 

 

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