Thursday, November 30, 2017

It's Just One Rental Company For Now....But Robotic Agents?

I read everything I can get my hands on that's Real Estate related.....some I share, some I don't. Some I presume it's such grand news you'll read it elsewhere.

But this? Nah, you haven't seen this.....have you? Lemme know! 
Click below and see what you think!

It popped up in one of my favorite RE news sites and I was like whaaaat? So, I watched the cute little video. It appears it's a licensed agent sitting in her office instead of coming to the property. 

Trust me, I've heard the nightmares from friends of mine trying to get a rental agent to show them this makes sense. But still, to me, lazy sense!

I don't believe a robotic agent will ever be able to replace a live agent to BUY a home. I believe there are way too many things that a Realtor needs to be educated/experienced on to help buyers (not renters), find their perfect home. 

I read another article today about out of town buyers trying to find the right home to purchase before they move into their next city. That's a super big challenge. I recommend, and feel free to use an AI Robot agent for this, that you get a rental in the area you think you want to be in. A year later, you may change your mind!

At any rate, go ahead and use a less than diligent agent to help you find a rental...but be wary of one when you are ready to buy a home.

Tuesday, November 28, 2017

Capital One Leaves The Mortgage Industry

I actually read about this a couple of weeks ago but saved it to share after the Turkey holiday. Hope you all had a wonderful one!

If you have a home loan with them, I do, don't fret. They will continue to be your home loan peeps!

They just aren't going to start any new loans. It's all about the money of course. The big dog stated that it was just too competitive in the mortgage industry to actually 'make money in the business'.

Really? Anyone else look at how much interest they earn over the life of your loan? You know, that amortization schedule? Oh, and if you have never looked at yours....ask your mortgage company for a will stimulate you to add a few bucks extra to your monthly payment!

Regardless, just a quickie post to let you know. As they are the mortgage company for a lot of people I know, since they got in the biz in 2009 when there was a lot going on.....a lot of us have them.

And, of course, it will impact quite a few employees but they are stating they will help them get re-hired elsewhere. Well, maybe they will put them in the Real Estate Investment, multifamily, and development, they are continuing...obviously that's where the bigger money is with less competition.

Any questions, just pop me an e-mail ~

Tuesday, November 21, 2017

Where Are We At Just Before Turkey Day?

In our sweet Awesometown and surrounding communities, on this Tuesday before Thanksgiving day, 2017 we have 484 active listings. Yep, 484. In escrow...480. Sold in the last 30 days? 304. See? I tell ya, hovering around that 300 mark.

Now, in 2016...thought you might be interested...same time....we had 618 active listings, 588 escrows, and sold about 300 in that 30 day period.

Squeaked back to 2015 for ya as well....same time period....580 active listings. 560 in contract. Interestingly, only 248 closed in that 30 day prior window.

I started helping people in & out of homes in 2002, yep, 15 years ago. Our inventory then was about 1000 active listings every month. A few years later the market crashed...and it feels like we've been struggling with inventory since then...even though we have sellers with equity..finally!

What do I think will change the inventory? It's surely a catch-22 situation. Sellers with equity need to find replacement properties, we don't have a lot. We need more new construction, without special assessments would really be nice (aka Mello-Roos).

I have helped quite a few that are retiring in the last couple years....moving out of the that's helped. But, that's only about 10% of my business.

So, current + a couple years history, mixed in with a bit of opinion.

Wishing you all a very Happy Thanksgiving and Who Wants To Sell Their House?

Friday, November 17, 2017

Wake Me Up Breakfast Nooks

If you read my blog regularly, you know I love the articles I get from Houzz!

This one was about breakfast nooks. And, decorating them to give you a wake-up buzz, maybe without the caffeine most of us need!

The article didn't say it, but I'm pretty sure you can decorate the heck out of your nook regardless of what the kitchen, and/or family room, decor is....well sorta.

As with any home, it's best if there is some flow of color, some continuity, to the house. It helps to create a feel good home.

But, with different pops of color, different textures, lighting....but still some symbiotic can really wake up your breakfast nook.

Take a gander, let me know which one you think I like best & which one you like best!

Tuesday, November 14, 2017

From Meeting With Me, Listing Your Home, & Closing Escrow....What To Expect

When I meet with Sellers that choose to sell their home with me, the first thing we discuss....after list price of course....are the pre-marketing needs.

What do we need to do to make your home attractive to as many buyers as possible. Do it, whatever I ask, please do it. And, yes, "you have to pack it anyways"!

Get the home professionally photographed, get it on the MLS, get it blasted everywhere. Keep blasting it everywhere.

Wednesday weekly check-ins will be received from me regarding activity on your home, online and physical, & competition on your home.

When we get an offer, my job is to research the agent, the buyers, and most importantly their lender & their capability to close on your home.

You'll need to complete Seller disclosures of course. Depending on the type of market we are in, you'll either complete them prior to an offer received or after. Sometimes you'll need to do an addendum.....that's for me to advise.

Escrow? Once we open escrow you'll get a ton of paperwork. Thankfully a lot can be done electronically. I ask every client not to sign anything without talking to me first. I'm OCD that way!

Buyers will have a home inspection and an appraisal. Your home needs to be show-ready at both of those times.

After their home inspection they will do a Request for Repairs. Sellers can say Yes, No, Yes to some, etc. We'll work through that together.

Presuming the appraisal comes in at purchase price we move forward to getting the Buyers loan docs into escrow, them signing same docs, their lender doing a review. Then fund the loan and record in Buyers name the next day.

Sounds easy, right? LOLOLOL. Well, it will be pretty easy for you.....but if you only knew the things we all did behind the scenes to keep this moving efficiently along? You'd know why we're worth every penny of our earnings!

Depending on how we've set up the contract, you will need to be moving on pretty quickly.

If there is a home of choice contingency, don't fret, I'll work that out for you!

There's tons more to know, tons more that I'll guide you through. But, thought this quickie post would get you sorta ready for Selling your home with Witz Real Estate!

I'm always happy to answer every single question you may have! Feel free to text/call/e-mail. Contact info on the right >>>>>>>>>

Friday, November 10, 2017

How To Know If You Should Refinance Your Home Loan

I read an article this morning that VA borrowers are getting hit with refinance options from scoundrel lenders. Really, just them?

Seems like everyone gets offers, all the time, to refinance their mortgage for a better rate.

Small typed notes with asterisks at the bottom of their 'invite' will have stipulations, but there still may be some good, and not so good, reasons to refinance your home loan.

Things to consider when you get one of them and are pondering their offer:

1) How long will you be staying in your home?
2) How much will it cost out of pocket?
3) How many years will it extend your loan?
4) Will your mortgage balance go up if you refi?
5) Is it a reputable lender offer?
6) What's the monthly savings?
7) How long will it take to pay off the cost of the refi by the monthly savings calculator?

Ahhhhh, see? Some questions you may not have thought of. You may just think, wow that interest rate is less than what I have now. 

I have past clients call me all the time about a refi offer they received in the mail. I rattle off these questions, and more, before I have them even consider it.

Most I suggest contacting their current lender. The current holder of mortgage would probably love to keep their loan as that's how they earn money, on the loans interest of course.

But, I also have a few great local lenders that can give you some options as well. One of my clients just save a couple hundy a month. Very happily I might add.

Before you respond to any offer of refinance, consider the questions above. Roll them around in your head, make sure you have your homework done before you call anyone.

Or, just call me.....I'm happy to ask you those very same questions! 

Friday, November 3, 2017

Story of The Week - Fraud?

So, one of my sweet sellers has her home in escrow. Buyers are due to remove their final loan contingency and the lender starts to go silent as soon as I start asking if we'll be ready on time to do that.

Lender had been difficult to communicate with, but on Monday it went to radio silence when final contingency was due to be removed Wednesday.

After 6 attempts, + 2 to her branch manager, their Facebook group page as well....I finally got a call back and an e-mail back. The results? They were not allowed to speak with me. I said, excuse me? We need to know what's going on. Nope, they were instructed by borrower not to give me any info.

My escrow team is fantastic. They, of course, had been in conversation with the actual loan processor and got a very disturbing message that said the file was in their Fraud department. Escrow had received a message a few days before that they were waiting on a condition explaining something on one borrowers part.

I could share the full history with you, but it's intense to say the least. Lender said good to go, one condition that needed clearing would be easy-peasy....that was 3 weeks ago.

So, we send a Notice to Buyer to Perform, 2 days, shit or get off the pot as my mom always said.

We are at day 2 of that notice. Lender is only communicating with buyers agent. New lender doesn't want to confirm fraud, but the info from her....and the info escrow received from loan the radio silence?

Something is amiss and we're not waiting. Back-Up buyer? Thank you for still hanging in there!