Jason Bramblett Real Estate Radio Podcast Click Here to listen: Podcast
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 appreciate you listening to us this morning and we also appreciate the man standing right here. His name is on the radio show. We say good morning to Mr. Jason Bramblett. Good morning.
Jason: Good morning.
JB: How are you?
Jason: I am great. I hope everybody is doing good.
JB: It’s a good Saturday.
Jason: It is. First week, first fourth quarter knocked out.
Jason: Poof it is gone, and Halloween is coming and everything.
JB: I do not know what it is, but right after Labor Day, I know we get into the fourth quarter now, but it just starts rolling.
Jason: It does.
JB: Things pick up. Holidays start rolling. You get into that mode, and before you know it, it is going to be 2019.
Jason: I know. I had to go to Costco the other day to get my 850-pound bag of Doritos, and there was a Christmas tree slap right in the middle of the place.
JB: And you are like what is up with that?
Jason: Yeah. They are like hey man, there is like what, 84 days left. I am like left?
JB: I can see Thanksgiving, okay?
JB: But come one.
Jason: They did have the 8500-calorie pumpkin pies out though.
JB: Did they really? Well, you cannot go wrong with a pumpkin pie.
Jason: I do not even know. That is such a deal. I am sure there are other places that have great deals, but you cannot make that pie for what they sell it for.
JB: I know.
Jason: There is no chance.
JB: I know. It is great.
Jason: It is decent.
JB: You have got to love it.
Jason: You do. And then the 800-pound bag of Doritos.
JB: I like that, too.
Jason: Speaking of food, how about the Dixie Classic Fair?
JB: Oh yeah, we went this past week. Took the kids. Got the fried Oreos.
JB: Got some of the roasted corn.
Jason: Okay. Did you get the parmesan pepper on it or just straight up?
JB: No, no, no, just straight up.
JB: We also got one of the, got some pizza. The kids wanted some pizza. And what was the other thing? We got the chicken on a stick. Skewers, the Jamaican jerk chicken. So that was our, we kind of dabbled in some of the food. It was really good.
Jason: Yeah, you went all Vintrest out. We are pretty much, we go to McBride’s.
JB: Oh yeah.
Jason: They have been there for like 80 years. That is crazy.
JB: I know.
Jason: I got my middle one, she will destroy one of those turkey legs.
JB: You have got to love the turkey legs.
Jason: This thing is about half as big as her.
JB: Yeah, they are big.
Jason: Then my youngest, she is a rib girl.
JB: Oh yeah. I love ribs.
Jason: Anything on a bone. They are carnivores. They love that stuff.
JB: That is good stuff.
Jason: I cannot remember the little ice cream place we go to. It is up by the root beer place –
Jason: - which is my favorite thing to do up there. Those people who have been there for –
Jason: like 70 years. No joke. It is amazing.
JB: It is good stuff, and we always look forward to the fair. This year has been great.
Jason: This ice cream, we have always got it for the girls. We have never, me and my wife have never tried it. We are going to try strawberry ice cream. I am sorry. If it was in the store, Ben and Jerry’s, you would file bankruptcy.
JB: It is good stuff, huh?
Jason: It is unbelievable. I asked the lady, I said where do you sell that. She said we sell it at the Dixie Classic Fair, at the North Carolina State Fair, and in Minnesota at the fair. Those are the only three locations in the world
Jason: you can get this ice cream. I can promise you. It is phenomenal.
Jason: It is something else.
JB: Well, I might have to make it back out there this weekend before they are gone.
Jason: If you are an ice cream connoisseur, I highly recommend it. When we went Saturday, the Wake Forest game was happening right?
Jason: So you cannot find a place to park on Mars.
JB: Yeah, it is nuts.
Jason: So we are driving around. We go down, I do not remember the name of the street, and there is this guy who has flagged us down and $5 parking. I’m like $5, what? Everything else is twenty. So I am like, I have the truck. I throw it in four-wheel drive, drive through this guy’s yard and we go all the way through his yard, all the way through somebody else’s yard, and we land up on this street called Bacon Street.
JB: There you go.
Jason: I was like I already like this place.
JB: I like it.
Jason: So every single person that lives on Bacon Street has decided to put their front yard up available because everything is full because of the Wake Forest game.
Jason: Five dollars to park your car in their front yard, it is guarded the whole time.
JB: There you go.
Jason: This was like a no brainer.
Jason: Super awesome little community of people and they are just out there having a ball and the kids are playing in the street and having a good time. It was fun. It was fun. We enjoyed the fair. Here is the great thing about the fair. You are going to drop some cash, but the calories are free.
JB: That is right.
Jason: On Fair Day. There is no charge for those.
JB: That is a good way to look at it.
Jason: You can load up on them. You can take them home with you.
JB: Absolutely free.
Jason: So this is the last weekend. If you have not experienced the Dixie Classic Fair, it is just North Carolina to the core.
JB: If you like to people watch. That is a good place to just sit back and let it roll in. Man, it is fun.
Jason: One last thing about the fair. This was a new attraction we have never seen before. We have been going for a long time. They had this motorcycle family there, and they are like these daredevils.
Jason: They get in this little ball of steel and there are like three of them in this thing, and they are spinning around 100 miles an hour. I was on pins and needles. They do this one guy. He is the Wheel of Death or something they call it. He has got no harness, no nothing. He is 20 feet in the air walking over the top of this thing, and it is moving and spinning. It is just the asphalt. That is it. If he falls, it is done.
Jason: He is jumping rope on top. It is crazy. You have got to see that. It is amazing.
JB: Did you check out the pig races?
Jason: You have got to the pig races.
JB: And the duck races.
Jason: Hammy Hamlin. That is my boy right there.
JB: I tell you what. You have got to love it.
Jason: Yes. And the ducks. They threw the ducks in this year.
JB: Yeah, we had the ducks.
Jason: That was pretty good.
JB: And we saw the, what else did they have? They had the ducks, the goats. They had the goats, too.
JB: That is fun. Good stuff.
Jason: It is good times. Hey, last week, we cracked into real estate pretty hard. Some of you guys sent me some email. Thank you for your opinion. We greatly appreciate that. Most of them will not be shared on the air.
JB: Uh oh.
Jason: No, they were okay. Let’s just go deeper this weekend. This is a tough conversation that nobody wants to have, and you have an opinion of your house, and then the market has another opinion.
Jason: And then the real estate agent has got to be kind of the go-between to kind of get you maybe to reality or maybe get the buyers to reality. It is a little bit of both. You need somebody to tell you that your house is ugly. I am sorry. It is the truth.
Jason: You have got to. It smells bad. You have got to get past that. Really, in its current condition, you have no chance of selling at all. And why waste your time.
Jason: We are just here to help. All we are going to do is show you what the masses, the people want to get you the most money, what they are looking for. If you do not want the most money, you do not need our help.
Jason: The owner of the house can sell it cheaper than anybody else.
JB: That is right.
Jason: You only need to hire a real estate professional if you want the most money. If you want the cheapest price, do it yourself. You will do just fine.
JB: There you go.
Jason: Always, always, always. So here is the thing. Oh, and by the way, some of these homes that I am talking about, and I get kind of nit-picky with and just kind of dig into, most of them are, these are three to five to $400,000 houses. That is kind of the arena that we sell in, so most of the product that we sell is 250 to 500. So these are not your little shanty shacks in the middle of nowhere out in the country for $45,000. No, these are 250 to $500,000 homes right here in Winston-Salem, Greensboro, High Point –
Jason: -- and you guys need some help. That is what we are here to do. We are the common sense approach to real estate.
JB: I like it.
Jason: How about that? With a big stick.
JB: Well, I tell you what. Do you want to dive into the market and see what is –
Jason: Let’s do it.
JB: Well, let’s just dive right into the market and what do you see for the rest of 2018, Jason?
Jason: First off, it is done.
JB: It is over almost.
Jason: What in the world? We are at the end. Fourth quarter at the end of 2018. It is here. It is now. If you are not ready, it is too late. I do not know where the time goes, but it goes quick. I probably spent too much time at the fair, I guess, having too much fun.
JB: That is okay. It is good stuff.
Jason: It is good stuff. I was talking to one of my team members the other day about time, so my daughter just turned 14, and he said when I started working with you, my daughter was 14. She went to college this year.
Jason: I am like did that just happen? It was that fast? Holy cow. Here is why I say that. Some of you are putting off things thinking I will get around to that. I have got plenty of time. No, you do not. No, you do not. You are going to blink, and your son or daughter is going to be, they are going to have this cap and gown on. You are going to be looking around going well, I guess I should have cleaned up the house now that I do not need all this space and we need to downsize or whatever. I should have probably stayed on top of stuff or maybe kept it more in the trend. Time goes quick. At least every other quarter, take on a project to take a look at your house to what you can do so that way it does not hit you all at once --
Jason: -- as some big major thing. Time waits on nobody. Ready or not, you are old. Just like that.
JB: That is true.
Jason: It is crazy. Quality homes are still going to fly off the shelf. So if you have got a great quality house, you have listened to our radio program. You have followed my advice. You have kept up with your maintenance. Every quarter you have done something to improve your home, and you have done that for the past five, six, seven years, and you can walk into your house and you would think it was built last week. You are good to go. Your house will sell in no time at all. Maybe you did not do that. Now is the time to get ready especially if you are thinking about spring. The great thing about North Carolina is we have got mild winters, so you can take some time this winter and fall, I guess we are still kind of technically fall, and do the projects that you need to do get ready for the spring or summer market.
Jason: So you have got time to do that. You do not have to kill it all at one time. But deferred maintenance homes are the ones that we see that are not moving. I do not know. It is kind of weird. It was the old school, my dad and grandfather’s era when you built a deck you called the neighbors. Hey, we are going to put a deck on. Oh, all right, neighbor, I will be over there, buddy.
JB: Growing up, we put a house or a deck on our house, and it was like a community project. Had a couple of guys that were into carpentry, and Dad was pretty handy, too. Over several weeks one summer when I was about 12 years old, they built the deck.
JB: Like a barn-raising.
Jason: Right. Exactly. That is just how it was. That has kind of faded, and now you talk about building a deck and they are like is that on Amazon? Is that a Prime?
JB: Do they have a You Tube video on that?
Jason: Can you get that on Prime? So things have changed. What is weird is that younger generation, we know that everything is an app, and everything is delivered. I am not going to the store to get anything. They are going to bring it to me. What are you talking about? It has rubbed off on us old people. It is starting to rub off. Isn’t that crazy? The young influencing the old.
JB: Imagine that.
Jason: The only problem is when I push all the buttons, I end up with kangaroos at my house. I do not know what it is. How did that happen? I was trying to get some paper towels, and I got –
JB: You got kangaroos.
Jason: I got this. What happened? Anyway. But it is, it is wearing off on us.
Jason: And what has happened is my generation and older are like hey, maybe we not need to build that deck ourselves. But the problem is sometimes we just are not doing anything.
Jason: Okay. If you cannot do it, and you have not learned the skill, guess what? Then you have to hire somebody.
Jason: So you need to budget for those things. If you do it right, which you should if you have listened to the show for the last ten years, we have said do these things. When you put on a deck, you do an addition, you finish a basement, you add or swap out a heating and cooling system in every single county in North Carolina you swap out a water heater, in most every city in North Carolina, you need to go to the municipality and get a permit. Okay?
Jason: Because one of the questions that the lenders are asking today when they send the appraiser out, which technically the appraiser is there to protect the bank, not necessarily you the consumer, although they will, well anyway, I will not get into that, but they are looking for these things. They are going to walk up, and they are going to walk up to your home and they are going to say wow, the basement looks a little newer than the upstairs. The upstairs feels like about a 1980, and the downstairs feels like about a 2000. Oh yeah, yeah, yeah, we finished that. Oh great, did you get a permit? No. Did not get a permit. Well, the banks are saying we are not going to count that square footage –
Jason: -- because it is unpermitted. It is not very much fun to go get it permitted when you have not done it properly the first time.
Jason: Because the first thing they say is are there any wires behind those walls? Yeah, there are. Okay, we have got to see them. Well, you cannot see them. There is sheetrock there. That is right. You need to move it. Cut it out.
Jason: Is there plumbing back there? Yeah, we have got to see that because we were supposed to what is called a rough-in inspection. We cannot see that it is done properly. Can you tear that sheet rock out? That is not fun.
Jason: And it gets more expensive and it adds more costs. It is the homeowner’s responsibility in North Carolina to ensure the proper permits are pulled. It is not the contractor. Most contractors will not get a permit simply because it is a pain in the butt, and it is a loss of time and money for them because they have to pull the permit. Most of the time they can do it online. Sometimes they have to meet the inspector. They have to wait for the inspector. They have to go back and fix something that the inspector does not like, which is usually pretty stupid a lot of times.
Jason: Sorry inspectors, but you guys are overly ridiculously picky about things. It should just meet the code and not your opinion. There is my opinion. So all of you can send me your hate mail. Thank you. And I do not build houses, so thank goodness. Right?
Jason: But we do need to approach it with some logical common sense. I will give you a prime example, and I should say this guy’s name, but I will not because I think he still works there. But we had a house that we had, when you put a deck on you are supposed to every 12 foot on center you put lag bolts through. All right? So the bolt is supposed to be 7/8” bolt with a washer and a nut threaded and tightened. Okay?
Jason: Keeps the deck from if there is a big wind sheer, keeps it from flying onto the neighbor’s house.
Jason: That way it could just rip the whole side of your house off instead of just removing the deck.
JB: There you go. Exactly.
Jason: Well, okay, so the bolts, we decided to put the nut and the washer into the crawl space as opposed to put them on the outside just because of aesthetics and looks. Just nice finished little lag bolt on the outside, and you just looked and it is pretty and nice. Well, he needed to see that those bolts and nuts were there. So I said well, go in the crawl space and it is there. He goes well, the insulation is hiding it. I cannot see it. I am like yeah, so lift the insulation up. Well, I cannot touch anything. I am like okay. He goes you need to reverse the bolts. I will come back tomorrow. The structural integrity of that bolt does not care which way the nut and washer are facing.
Jason: That is how ridiculous it is with some inspectors. That delayed the whole closing.
JB: That is crazy, man.
Jason: Yeah, it was ridiculous. It was a mess. Common sense, guys. Give us a break out here. Some of you guys are just being, if you worked for me and you did that to one of my clients, you would no longer work at my office because that is just absurd. But it is government work. No, I’m kidding. Okay, I love all you government employees. Just chill. I love you guys. Come one. But here is the thing. We have got to use common sense. It is not cheap to maintain a house. Right?
Jason: So we have got to do it bit by bit, piece by piece. Take on what you can take on, and work on keeping the house up to speed. Okay? Again, guys, these issues are really in the 225-300 range is where I see the bulk of the deferred maintenance. I am not talking about first-time homebuyer little $100,000 houses or a $150,000. I am talking about you guys that have owned a couple, and you are getting lazy. You need to maintain your home. You need to keep up with the times --
Jason: and the trends. That way you do not have to bite off so much when you get ready to sell the house.
Jason: Makes sense?
JB: It does.
Jason: JB, let’s do this. Let’s take a quick timeout.
Jason: When we come back, I am going to talk to you about the luxury. I am not letting you off the hook. Just because you have got an expensive home and you say it is nice does not mean it is hitting on all cylinders.
JB: That is right.
Jason: So if you really want to get ticked off, come back. And we will be right back in just a minute.
JB: All right. Maybe if we have time we can pull an email from somebody, one of our listeners, too.
Jason: We will do it. Let’s do that.
JB: All right. Stay with us folks. We will right back. (in/out music) And welcome back. You are listening to Triad Real Estate 911 with your host Jason Bramblett, and before the break, we were going to talk about some luxury.
Jason: Rodeo Drive.
JB: I tell you what, man. Only the finest here.
Jason: The Beverly Hillbillies, no that is in California. There are no hillbillies in North Carolina.
Jason: Not at all. Everybody here is from the North. What are you talking about?
JB: Good old boys. There is a difference.
Jason: Good old boys. That is it. Yes, absolutely. So luxury, yeah. Nice stuff.
Jason: Beautiful homes. Man, this is a tough place to be. It is no secret. Everybody knows that Kevin Harvick lived in this market.
Jason: Hey, Kevin. Kevin had a phenomenal home. And it is still a phenomenal home. I have been told that it appraised somewhere in the $9 million-ish range.
Jason: I would believe it. It is that nice.
Jason: But when it sold, it brought a whopping $2.3 million.
Jason: That is a pretty good discount. Phenomenal house. Some of you guys got really, really, really nice homes, and you, for whatever reason, do not believe that discount could apply to you.
Jason: If a celebrity of North Carolina takes a hit like that, well some of you would justify and say well, he can afford to. I cannot. Well, yes, that is true, but it speaks to the market.
Jason: Not necessarily who the person is.
Jason: The market is not willing to bear what most of you guys have in your homes, and you are just going to have to get real with that. Just like some of you gained back a lot of money when the stock market crashed. You are going to give back some money when your house sells.
Jason: That is just the way it is. Only about 16% of the houses over $500,000 are selling right now.
Jason: It is not exactly, I do not know, is that good Vegas odds? 16%? It might be. I do not know what the Vegas odds are. But it is not the greatest place to be if you have got a home over five hundred grand. Let’s face it. In our market, 500 is still, that is the beginning of the luxury market.
Jason: 500 to 900 is a pretty palatable luxury price for the Triad. When you go over 900, the wheels on the bus completely fall off.
Jason: When you go over two million, you can just about, you need a digit to count all the people looking for that. It does not take very many digits to get there. I am sorry. It is just the truth in the matter of what we are dealing with. Location is key. Neutral. Some of you have the most amazing taste. I think that is what they call that, JB.
Jason: Taste. When you sell, even though you have whatever that is. I do not even know what that is. Because I go in some of these homes and I am like wow, that is really, really expensive or really, really you got it at a garage sale. Usually it is expensive.
Jason: Sometimes you cannot tell the difference. Here is the thing. If you have to tell me what it is –
Jason: -- there are so few people that this is a Chippendale, I guess everybody knows that. But whatever. Some amazing piece of art --
Jason: -- that is not even going with the house anyway. I am looking at the house, not your art stuff or your pictures or whatever. Or your furniture or your lambswool whatever. Guys, you have got to get neutral. I know you live there, and you have got the money not to be inconvenienced. So here is the thing. You are going to have to discount your home to make up for the lifestyle in which you are presenting because the lifestyle you are presenting only works for you.
Jason: It does not work for the masses, and if we want to get people in the home, it has got to appeal to more people, not just you because guess what? There is no one like you.
JB: That is right.
Jason: There is no one that is into the lambs woolly whatever things. So we have got to get functional with our real estate. We have got to get functional. So this is why we are seeing new construction do very, very well on the higher end. Because why? People can pick out what they want, JB.
JB: That is right.
Jason: They do not want your furry walls and whatever else they got hanging from the ceiling and all those things. Get to neutral even in the luxury. It is going to help you down the road. Okay? So a couple of things. Do not forget to go to the Dixie Classic Fair.
JB: That is right.
Jason: It is one of North Carolina’s famous things to do.
JB: Last weekend.
Jason: Last weekend. And do not forget to call us when you are thinking about selling your home because if you need to hear that the baby is ugly, I am happy to tell you that it is.
JB: You are the man for the –
Jason: I am just not going to steer you wrong, guys.
JB: That is right.
Jason: You should know that by now. Have a great weekend everybody. We are going to be back here next week. Be safe. Talk to you soon. Jason Bramblett dot com. Talk to you then.