Black Hole Of Real Estate Podcast: Recent Episodes
Ron Wysocarski
The Timing Of Interest Rate Changes ...
...is not affecting home prices
Once again the Fed decided to keep interest rates the same
While individuals, and businesses alike, want rates to be lowered
the Fed has signaled that they think rates are where they need to be
and unpopular of an opinion as it might be
there is some evidence that they aren't necessarily wrong
home values increased 3% in the 1st Quarter of 2025 as compared to the same quarter in 2024
There are only 4 meetings left in 2025
- July 29-30
- September 16-17
- October 28-29
- December 9-10
so if there is going to be surge of buying over the summer months
it will be based on the strength of the real estate market
and not due to the cost of money being less expensive
and with that, we would know with great certainty
that the housing market is solid
without manipulation of interest rates
so when the Fed eventually lowers rates
there could very well be a surge in the real estate space
if you have been playing the wait and see game
watch for 2 interest rate changes over the next 4 meetings
my suspicion is that you will see one in July or September
and the other one In October or December
with the likelihood that home values continue to increase
the monthly home loan payment will not see much change
listen for the explanation on how and why things are playing out
Your 1st Air Bnb Property...
...here is what I would be looking for when making a purchase
The 1st thing is don't over think it
Keep it fun and be passionate about creating amazing experiences for your guests
and whatever you do - beware of misleading "news headlines"
a recent article from a "major new site" said that investors were selling out
they mentioned that 11% of sales in 2024 were investor sales
the highest total in many, many years
what they fail to mention is that different investors bought them
so does that mean that investors actually bought in at the highest rate in years
so now that we have all of that out of the way...
one of the key things to keep in mind with short term rentals is convenience
you will compete with hotels and other short term rentals
excellent photos and descriptions in your marketing are critical
does the property have easy access to things that are location specific?
ample parking - wifi - and evertyhing that the renter will need for an amazing stay
and here is a huge one - where a lot of 1st timers get it wrong
is your list of checkout rules so long that you scare away renters
as far as selecting the right property
do the research to be sure that there is not a restriction against you renting it short term
independently verify that the property qualifies
and know that its very likely that some licensing and/or registration will be required
review the rental history of the property and look for red flags
- are there large gaps between rentals
- is the property highly seasonal for travel
- is there an over supply of rentals in the area
- check the availability calendars of competing rentals
if you are considering a condo then it is paramount to know about special assessments
and how future building maintenace will be scheduled and how much it will cost you
whether you specialize in beach locations or cabins in the mountains
you would be well served to provide local information for your guests
to explore the area, and seek adventures
be a great host and leave them a few bottles of water and make sure the ice maker is working
everything that your property doesn't provide for them is a negative review waiting to happen
and decreases the chance of them being a repeat guest
we take it real deep in today's podcast
this is one that you will want to save
I Just Read That Real Estate Investing Is Dead...
...from a self proclaimed real estate guru
I went through their missive with an open mind
and what I found was that I believe that they are off base
Don't get me wrong
I have some common ground with their views
- The cost of an investment property makes it hard to cashflow on 1st glance
- rental markets are feeling the pressure of inflation in the economy
- and the short term rental market has changed dramatically
A different writing states that Investors are exiting the market at the highest rate in many years
Apparently 11% of all sales in 2024 were investment properties
so while they use that stat to say that investors are bailing out
I can't help but notice that those homes were bought by real estate investors
so is it possible that the most investors in a long time were actively buying in 2024?
It takes 2 to Tango and the fact is that they didnt say what a typicial years % was
If you choose to look at things differently
- you could pay cash for a home and have instant cashflow
- you could put enough $ down when financing to have a positive cashflow
- you have a great opportunity for an increase in property value of 3%-4% annually
- your renter pays down your mortgage balance each month and builds equity for you
- you may be able to write off expenses and use depreciation at tax time
and that's most likely the exact reason that those buyers jumped in at record rates in 2024
its all about how you want to view things
the greatest transfer of wealth has been proven to occur in down markets - not up markets
it sure seems like the smart investors are making moves that others are afraid to make
Today's podcast goes much deeper on how and why
Insurance Cost Going Down...
...which is great news for home owners and investors
this comes on the heels of many years of sharp increases to premiums
and large amounts of policies being cancelled by the providers
there is a growing number of companies that are holding the line on renewal costs
an increasing number of agencies are now actually reducing the annual cost of coverage
Citizens Insurance continues to be a solid resource for older homes
This safety net has been super important in the state of Florida
as many homes do not fit neatly into the insurance boxes
now that things are settling down in the industry
rates are more affordable for many home owners
which means that monthly payments can go also go down
and at a time when inflation is causing almost everything to cost more
this is a welcome situation for pretty much everyone
its also helping buyers purchase homes with insurance in place
as opposed to passing on the deal due to high risk concerns
Today's show talks over the changes that are happening now
NAR Economist Says Market Is Heading...
... Upward with median home prices increasing by 3% in 2025
and that they will grow another 4% in 2026
National Association Of Realtors Chief Economist Lawrence Yun
made these statements at the 2025 Legislative Meetings at NAR
Interstingly enough - these predictions mirror
What I have been saying on this podcast for the past year
Yun goes on to mention that inflation is keeping interest rates high
Which is "killing the housing market"
The Federal Reserve has not wavered in their target of 2%
Inflation was at 2.3% in April 2025
So the Fed continues to stubbornly refuse to lower rates
One of the biggest things holding back the real estate market
Is that home owners with low rates are reluctant
to trade their 2%-4% loans for 6%-7% loans
meanwhile home prices continue to increase
while many cling to the hope that prices will drop
it doesn't seem likely to happen within the next year or so
based on a growing number of economists projections
Today's show examines how this is affecting the direction of the market
Home Prices Up 4%...
...despite the fact that interest rates haven't come down
all the while inventory levels continue to increase
FHFA - Federal Housing Finance Agency completed a study
That compared home prices in 1st Quarter 2024 to 1st Quarter 2025
They found that home values were up 4% nationwide
49 of 50 states saw prices increase
with Hawaii being the lone exception
The top 5 states with the highest increase were
1 - Rhode Island
2- West Virginia
3- Connecticut
4- Ohio
5- Wyoming
So here is where it may get very interesting in the 2nd half of 2025
A lot of the things that have held back home buyers may change
- Interest rates are likely to drop over the next 6 months
- Tariff concerns will ease as it appears there are several deals emerging
- Congress is heading toward a resolution to "The Big Beautiful Bill" talks
The market is playing out the way that we predicted on this podcast
At the end of 2024 during our forecast for 2025 episodes
Home prices didn't drop, despite all the forces against it
and now that we have evidence that prices went up
we have a real time scenario where the market might just surge forward
If you have been waiting patiently for interest rates and home prices to drop
Your patience may not be rewarded
How Long Will It Take To Sell...
... Is a loaded question in today's real estate market
and for most its not for the faint of heart
both buyers and sellers are feeling the stress points of the sales process
1st and foremost you need to get under contract
which is taking longer for both sides these days
a well priced home in a great location can sell quickly
one that needs repairs and is overpriced can take much longer to sell
we have seen homes sell in a day
we have seen homes on the market for 6 months and not sell
the seller has a lot of control on price and condition if they want to sell fast
and then you have to look at the terms of sale for the closing process timeline
lets suppose that you have to sell a home in order to buy another
and after 30 or 60 days you go under contract on the home you are selling
now you are tasked with finding a home to buy and get that under contract
the deadline to do so may only be a few days/few weeks depending on your home sale
if you have enough proceeds to pay cash then you can be super aggressive
on the number of days needed to close the purchase
and possibly overcome a contingency to sell your home
if you need to finance the purchase, then you will need to ask the seller for contingencies
for the sale of your home and also the mortgage approval
in most cases, 30 days is enough time get the loan approved
when you start to add up the days to close a sale
it becomes clear that if cash sales are involved with no contingencies
the process can be completed in 30 days or less
if financing is needed on top of a home sale then plan for 30-60 days
all of this is on top of however long it takes for the home sale to go under contract
so the long answer to the short question of how long does it take to sell
is that it depends on your situation
today's show takes you through the twists and turns
Closing Costs - Who Pays For What ...
...each party in a real estate will experience different fees at settlement
on the sellers side
the biggest expense is trypically the brokers commissions
along with that they will likely pay for the title insurance
as well as closing fee for the settlement agent that performs the closing
in addition, a seller may pay for documentary stamps, estoppel fees and recording fees
while not a complete list, these items are the most common charges for sellers
on the buyers side
documentary stamps on the mortgage, intangible fees and lending fees
they will also have a settlement fee for the closing agent
on top of that they may also pay for a property survey and elevation certificate
keep in mind that there a prepaid fees such as an appraisal and property insurance
there are also credits between the buyers and sellers for property taxes and HOA Fees
all of the costs associated with the sale are typically agreed upon and balanced
by the title agent on a form called the ALTA where everything is listed
this document is usually the 1st one that each party signs
as it makes know all of the charges to each party at the closing
today's show dives into the details of the costs to close the sale
Where Did All The Showings Go...
...its a real thing right now as there are very few people actively looking at homes and its a clear signal to the home sellers out there for homes that are not priced well based on the condition and location of their property those will struggle to get showings and offers let alone sell quickly with multiple offers with excellent terms thats not say that properties in great condition and in great locations will not sell fast for top $$$ - because those will as that type of home will do well in almost any type of market but when sellers are not getting many looks online and aren't seeing the number of showings and offers that they want what is their next move ? most sellers go on the market feeling that they are positioned to sell but unless you have a robust marketing system and a highly active agent its going to be an uphill battle to outwork the competition the lingering effects of the covid real estate market show that sellers expectations have not evolved into the current market now before you take the for sale sign out of the yard... lets keep in mind that we are entering the time of year that has the most activity for buyers and sellers and it might just be the time that a new to market buyer is just seeing home marketing ads for the 1st time its a fact that some sellers will make adjustments to their price and condition those will be the ones that see a spike in showings and offers we unpack a lot of information in today's show with tips on how to navigate this summer market give us a listen and subscribe if you like what you are hearing
... Is a home buying strategy with many advantages
At a time when real estate inventory continues to increase
home buyers remain very particular in what they are looking for
and there is a real fear of the pressure that exists
when they only have a limited time to select a home
and its the exact reason that many choose to make their purchase
before they ever put their home on the market
and if you are open minded to doing so
you open the door to possibilities that wouldn't exist otherwise
imagine for a moment
being able to to renovate your new home
before you begin to move in
- new flooring
- fresh paint
- new kitchen cabinets and back splash
- updated bathrooms
all could be done relatively quickly
you could selectively begin to move in 1 room at a time
while the work is being done
and your final move in would be into a new home
that will need little, if any work done, for the foreseeable future
and in the process, your previous home will be empty and clean
making it much easier to complete any repairs or touch ups
to get the home ready for a profitable sale
that will very likely breeze through the inspection process
this opens the door to the widest pool of buyers
the hidden bonus is that this option relieves most of the stress involved
when trying to sell and buy at the same time
and removes the need to purchase with home sale contingencies
that can cost you money
or even worse
cause you to miss out on the home that you really want
as most sellers are averse to taking a chance that your home sale doesn't close
today's show gives your real life scenarios to guide you through the process
Did We Just Enter Into A Buyers Market...
... A lot of home buyers are certainly feeling that way right now
We have seen a steady increase in the number of homes for sale
And homes are taking longer to sell
but does that actually mean that its a buyers market
most real estate experts consider 6 months of inventory
as the line of demarcation when determining what type of market it is
less than 6 months of inventory is a sellers market
6 months of inventory is a balanced market
more than 6 months of inventory is a buyers market
we are finding that many areas of the country are hovering
right around the middle
and when this happens
those watching the market
are looking for signs of which direction
it will be heading in the short and long term
and during these times
both sides feel like they can win
listen in to learn more about what we feel is about to happen
Springtime Tips To Make You More Money At The Closing Table...
... here are the Top things that you should do before you go on the market
start with decluttering the home
make decisions to store, sell, or donate
any items that are in the home currently
then get the home deep cleaned
don't cut corners on this
kitchen and bathroom cleanliness
can make the difference between getting a solid offer
as opposed to a low offer
or even no offers at all
then make a repair list
list the items can you repair on your own a little to no cost
and get that done quickly
then list the items do you need to hire out to avoid inspection issues
and get those scheduled right away
a home that is turnkey will sell for more money
and also create a bigger pool of buyers
the exterior of your home should not be forgotten
it doesn't matter how nice it is inside
if it doesn't have curb appeal outside
then buyers may choose not to go inside
its super important to have the yard looking its best
and the same goes for the house paint, roof, gutters, and trees
these are all big ticket items
that most buyers would prefer to avoid paying for after closing
sellers making it easier and more convenient for home buyers
hold the winning ticket to receive
the most amount of money in their pocket at the closing table
today's show explains what to do and how to do it
The Fed Interest Rate Move...
... Wasn't A Move At All
Interest rates, once again, remain unchanged
In all honesty, the real estate industry doesn't need it right now
At a time when market activity historically increases
It isn't necessarily important to the real estate industry
The time period right after tax season closes out
combined with the end of the school year
is an annual rewenal of interest for many home buyers and sellers
whether they are upsizing or downsizing their home
some may be getting ready to buy a retirement property
whiles others are seeking an investment property for additional income
regardless of the reason
this is the season where the most people are in the market most years
and with that, there will likely be an increase in new listings
which in turn will lead to a spike in home sales
most of which will close by the month August
According to the National Association of Realtors
More than 80% of Metro Markets nationwide (189 of 228)
saw home values increase in the 1st quarter of 2025
and there is a belief that this will continue over the summer month
today's show is a lively conversation regarding why this is happening
Delay Your Taxes Even Longer...
... is something that almost everyone wants to do
A 1031 Exchange is something that I have spent a lot of time on over the years
Its a tax strategy used when selling a property
that allows the seller to defer (delay) the tax due
until a subsequent sale has been completed
this allows them to put more of the money to work
and pay the taxes somewhere down the road
I have discussed it in a number of forums recently
in the spirtit of contribution
to the real estate community
there is another layer that can be added
when a seller decides that they want to take their profits
and use them for something other than a real estate purchase
let's suppose that you have a need for some of the money now
but not all of it right away
and what you would really like
is to have an income from the sale
for 10, 20 or even 30 years
you could "become the bank"
and finance the purchase for your buyer
they would give you a down payment
and make monthly payments
just like they would if they got the money from their bank
the difference is that you receive installments each month
and would only pay tax on what you receive in a year
based on your cost basis and profits from the sale
which allows you to spread out the tax due for many years
you should definitely talk to your tax planner
before you make any moves like this
but for some sellers and investors
this is the exact right strategy
today's show walks you through a number of scenarios
...its the time of year where things go faster and differently
tax season is now done
and there is an increase in real estate activity level
most people have a very clear financial picture
documents are readily available for those that will apply for mortgages
snowbirds consider selling their homes
those nearing retirement are looking for to relocate
landlords are looking to cash in
investors are looking to add to their portfolio
the school year has ended
which always add buyers and sellers to the market
so this is a time where properties that have lingered unsold
we find many sellers will be taking price reductions
so they can get a 2nd look from this new audience
a large number of home sellers
will be looking to purchase a different home
and lining up the closing dates
can be challenging to say the least
the usual speed bumps are more amplified
- inspections
- appraisals
- contingent on selling a property
- insurance delays due to tropical storms
today's show goes super deep into these scenarios
...1st and foremost, is your home properly insured
as I often say
It's what you learn, after you know it all, that really counts
you may want to examine your declaration page this week
look at what the policy covers
and more importantly, what is not covered
give some thought to how much coverage you want it $$$
think about how big of a deductible you prefer
are there riders that you need to put in place
you can add flood insurance if you don't have it
when a named storm enters in the region near your home
insurance companies will stop writing new policies
until the storm has passed
if you are currently under contract
and haven't locked in your policy by binding it
you run the risk of not being able to close your home purchase
get the yard tools out and trim all of the branches on your trees
before the storm comes along
otherwise you are stockpiling projectiles that can inflict damage
do you have a generator in place
if not then give some thought to your food supply and storage
while you are outside - get a look at your roof
is it missing shingles or has a leak that needs to be fixed
today's show gives you a roadmap to your preventative maintenance tips
as well as what you should really be stocking up on this season
...and home buyers and investors are winning
Let's Face it
Most people feel that new homes
- cost too much
- take too long to build
What they don't always realize
is that there are high production builders out there
that release express homes every week
and you can purchase them
and move in within 30-60 days
given the current real estate market conditions
some builders are offering discounts
unlike what we have seen in many years
at the peak of the market
there was little reason for a builder to negotiate
that has changed in a big way
and if you understand how things work
and you know what to ask for
the savings can be HUGE!
Investors in particular
are finding that they can get a great return on their investment
if they can close with cash quickly
many are using 1031 Exchange funds to complete the deals
delaying taxes due on sales
and maximizing their profits
today's show takes you behind the scenes
and gives you the goods on how it works
...and there are whispers of the market going negative
but one has to wonder
is it market movement
or is it market manipulation
we have discussed the big moves made by Rocket Mortgage
to acquire Redfin and Mr Cooper
and now is the time that we should take a look at Zillow
as they just shared their forecast that home prices
may go down nearly 2% next year
no has knows for sure
but I do find it interesting
that Zillow has acquired Follow Up Boss and Showing Time
in recent years in an effort to become
a seamless 1 stop home buying/selling portal
and lets face it - negative news gets clicks online
and if consumers belived that prices were about to drop
it would create new activity in the housing market
buyers would check more intently for deals
sellers would be more likely to sell quicker
if they felt the price would be lower each month ongoing
but here's the thing
is it smart for a seller to drop their price dramatically
when 1% of $400,000 is just $4,000
even 2% is only $8,000
knowing this, it doesn't make finanical sense
to drop their listing price 25k
unless they were glaringly over priced
I am not saying that the zillow forecast is right or wrong
thats for consumers decide
but I do find it interesting
that it appears to move the ball forward in their grand plan
tune in to today's show for the details
...when you were sure that it would quickly sell for top dollar
Let's start with the basics
There are 3-4 things that really matter most
- location
- condition
- marketing
- price
did you nail down those 4 things ?
if you did not
you have your answer
if you got those 4 things right
then we need to dig a little deeper
how about the 4 point inspection ?
how well did the home do with regard to
- roof
- plumbing
- hvac
- electrical
let's suppose that you did well in all of those areas
now what ?
what about the wdo inspection (wood destroying organisms)
- wood rot
- termites
- is there a transferrable termite bond
any past evidence of flooding in the home?
has there been a hurricane claim on your insurance?
has a water line ever broken in the home and filled the house with water?
did you try to sell it on your own?
were you highly responsive when people called?
was the home proefessionally cleaned?
did you hire a company to pre-inspect the home?
I have given you the proverbial tip of the iceberg here
listen to today's show to hear whats below the surface
...will bring increased activity to the real estate market
Home buyers and sellers create
artificial deadlines every year
New Years - Elections - Tax Season - End of School Year
The "wait and see crowd" typically activate themselves
the weeks before and after the April 15 tax season finish line
its the time of year where most people
have their greatest clarity of their financial picture
and with this increased activity comes opportunity
new homes will hit the market with greater frequency
short term rentals may be sold
or converted to long term rentals
investors will adjust their portfolio holdings
families will move to different school districts
new "empty nesters" will downsize
the recently retired will be making their relocation plans
today's show provides and a road map to succeed and some tax strategies
...aren't coming
at least in the way that you might think that they are
There won't be some new "tax" on real estate sales
But there will be an impact to the market
as many people are pausing their real estate activities
and with that, many may cost themselves a lot of money
we only need to look at the numerous recent distractions
to understand that making the choice to do nothing
is a choice
- covid
- rising interest rates
- buyer broker agreements
- elections
none of these caused the real estate markets to crash
despite a plethora of prognosticators insisting that they would
prices have remained stable despite all of the "noise"
and my suspicion is that the market will be more than fine
in fact, the tariffs may actually push the market forward in a big way
as countries begin to make deals with the U.S.A
that lower trade barriers and help businesses grow
it wouldn't shock me to see interest rates come down over the summer
and I anticipate that home sales will increase significantly
while property values also increase before the end of the year
listen in to hear the details on how I think its all going to play out
...Rocket Mortgage is making some big moves
They are in the process of acquiring Redfin
They are also in the process of acquiring Mr Cooper
They are quickly becoming
The proverbial 10,000 pound gorilla
Its such an interesting play
A Gigantic mortgage company
adds on a large real estate company
with a super sized online presence
and then goes a step further
by also adding on the largest mortgage servicing company
clearly they are looking to be the most complete
end to end service provider
in the combined real estate/mortgage space
which can be really good
or not so good for consumers
for those looking for these services
Rocket is wagering that people will want
a 1 stop shopping platform
I sense that there will be a segment of that audience
that will prefer to create their own experience
and select each provider on their own
and avoid the bundled service package
today's show talks about the impact of this move
... begins with understanding a few simple strategies
The method that every individual has the most control over
Is to increase their credit score
paying down debt usually increases a score
but not always
let's suppose that you have $4,000
that you can use to pay off a credit balance
and you have a credit card with a 4k balance
with a monthly payment of $100 per month
and a car payment with a 4k balance
with a monthly payment of $500 per month
which would you pay off ?
most people would be tempted to pay off the car
and I can understand why
but what if the car loan is a 5 year old trade line
and the credit card was only a few months old
paying off the car closes out that tradeline
which can significantly reduce your average trade line age
and might actually cause your score to go down
so now you have a decision to make
getting rid of a $500 payment
helps your mortgage pre-qualification
more than getting rid of a $100 payment
but what if you can have your cake and eat it too?
typically - a car loan that has 10 months or less
of repayment time left on the loan
is not counted against a borrowers application
so now you get the best of both worlds
each situation is different and we always recommend
that you consult with the professional that you are working with
listen in to today's show to learn the other 2 strategies
...The are reports of some abrupt changes in real estate
1st Quarter Trends are showing some surprises
The inventory had been increasing steadily
until a precipitous drop of about 30%
of homes for sale hit over the last 7 days
Another report states that Interest Rates
will drop to 4% within the next 2 weeks
which would be amazing for home buyers
A different report that really shocked me
shows that home values are down 37%
since the 1st of the year
the market is about to go bonkers
we will be watching things very closely
to see what is actually about to happen next
listen in to my April 1 podcast
...is the week right before or after April 15
this is the time of year when most taxpayers
are acutley aware of the financial picture
and have had conversations with their financial advisors
regarding large purchases and investments
the documents the need for mortgage qualification
are easily accessible to provide to lenders for approval
its also a time where those with children in school
are preparing for a summer move
that takes place between the end and start of the school year
so now that we know the best time to sell
it becomes more important than ever
to be "in the market" with your home sale pricing
timing the market is never easy
but the data has shown mid April
to be the most advantageous time to sell
todays podcast talks about the forced multiplier
of this savvy home sales strategy
... And The Real Estate Market Didn't Crumble
Once again the Fed didn't drop interest rates
And while there is a perception
that home buyers will not buy right now
there is a growing number of buyers buying
admittedly many are cash buyers
that are largely unaffected by interest rates
but there is also a signifcant amount
that are making purchases despite the rates
there are a number of ways to reduce the rate
including a refinance down the road
when people are going to move
its common that they will do so
regardless of interest rates
I do believe that interest rates will gradually go down
over the couse of the year
for the moment
concerns of inflation and other uncertainty
will cause the rate drops to be slow at first
and increase over time
today's show breaks down how and when it will happen
... and the difference between being "in the market"
or "out of the market"
home sellers are faced with a choice
when they put their home on the market
and their fate will come down to 3-4 things
- location
- condition
- marketing
- price position
and if they nail these things
then they will be "in the market"
and having showings - offers - and contracts
if not then they will be "out of the market"
and their homes will linger on the market
for far longer than they should
and almost always sell for less
than if they were in the market from day 1
similarly, home buyers also have a choice
some key factors in a successful purchase
- proof of funds readily available
- a well written offer
- purchase price based on market facts
- flexible terms based on seller needs
without these in place a buyer will be "out of the market"
and struggle to purchase a home
a buyer that submits lowball offers on day 1 of a listing
most likely poisons their own water
and creates unnecessary friction with seller
complicated offers with numerous moving parts
and endless continegencies
almost never work out
listen in to get the details on the strategies that are working
... The 3 words that no one wants to here these days
whether it is during the inspection period of a home sale
or during an insurance renewal application
more and more times we are finding that there is work to be done
and since the cost of roofing materials
as well as construction labor
has risen dramatically
it can be a pricey problem
during a home sale
buyers and sellers are quite often forced
to do some sort of renegotiation of price and terms
other times the sale simply gets cancelled
and the roofing problem is temporarily unresolved
the owner is then left to sell the home AS IS
or do the repairs/replacement on their own
with the belief that they will net more money at the closing table
for the time and effort to address the roof concerns
once the roof has been completed
its likely that the roof portion of the insurance policy will be less costly
and provide some future benefit to the homeowner
but living in the times instant gratification
and the savings accumulating slowly over time
not everyone feels that the cost/benefit is ideal for them
today's show talks more about the scenarios that unfold
...is easy when you know what you are looking for
3 things to look for:
- condos that are over 100 days on market
- condos with special assessments pending
- short term rental condos in the off season
3 things to know: * street view is least desirable * side view is more desirable * direct ocean front views are most desirable
all of these things affect the market price the least expensive condos are typically condotels think of a hotel room size place that you can purchase stay there when you want rent it out when you are away these are typically cash purchases as most of these are "non warrantable condos" which means that more than 50% of the units are non owner occupied rentals if you are planning to use a mortgage when you purchase you can still find a deal finding a motivated condo seller is much easier when you are flexible if you have super specific needs and desires you will limit your options today's show give you an insiders view of the condo market
...and are affecting home buying opportunities
the greates impact on the real estate market is uncertainty
and it can absolutely lead to gridlock
for buyers and sellers alike
interest rates have continued to bounce up and down
in a relatively small range
and since the Fed hasn't not signaled rate reductions
its leaving buyers trying to predict the best time to buy
sellers are noticing that its taking longer for homes to sell
and that prices have not gone up in most areas
and while there isn't a rapid decline
there are some sellers that need to sell
and might just take a little less to make that happen
Today's Show Talks about some of the market indicators
that we are watching
... isn't necessarily what you are thinking
right now its a lose-lose situation
renters are definitely feeling the squeeze
as everything costs more these days
but there is a twist
landlords are also feeling the pinch
- the cost of insurance is up dramatically
- the property taxes have gone up
- repairs are more expensive
- as labor and materials are cost more
- and if they were in a hurricane area its even worse
and this is causing an interesting thing to happen
renters are actually renewing leases at a high rate
its expensive and disruptive to move
and landlords are keeping rents about the same
despite the additional cost of ownership
as they realize that its expensive to have a vacancy
as they have no income during a tenant turnover
which further exacerbates the problem
oddly enough
renters and landlords are forming marriages of convenience
today's show walks you through what is taking place
...is far more possible than it has been for many years
but it has to make sense to both parties
a buyer's offer is far more compelling to a seller
when it contains a few key elements
1st and foremost is demonstrating quickly
that the funding in unquestionable and verifiable
a cash buyer should supply proof of funds
a buyer that is using a mortgage for the purchase
at a minimum should have a pre qualification letter
even better is a letter stating their loan has been pre underwritten
the 2nd most important item is writing a clean deal
with concise terms with few, (if any) moving parts
a short inspection period is definitely favorable to a seller
and a quick or flexible closing date is also preferrable
when a seller is going to knowingly give ground on price
something has to make up for that
and the right terms can make all the difference
buyers also need to consider
whether they are positioned as a lowball offer
as there is risk that the seller will not enage with them
another complication for a buyer
is an aggressively low offer
when a home is just hitting the market
timing is everything in real estate
and a sellers motivation can change over time
today's show gives you the formula for success
...communication breaks down
and sales that should be closing easily
can end up with a lot of unlnecessary friction and anxiety
and ultimately fall apart
despite the fact that
both the buyer and seller
actually wanted to complete the sale
- missed deadlines
- a difference in expectations
- unclear contract terms
- uncontrolled emotions
are the leading causes of sales not closing
and when there are agents are involved
its critical for them to remain the messengers
for their clients needs and desires
and not necessarily the decision makers
there is always a danger
when agents choose to negiotiate with each other
and then bring the results back to their clients
too many times agents "work something out"
that one (or both) parties involved do not agree with
and it sure gets messy at that point
today's show talks about how things can go sideways
and offers proven strategies on how to get things back on track
...Is that the money didn't make it to the closing agent
Usually the keys are handed over at the closing table
unless something goes sideways
and it can get extremely stressful to all parties involved
let's face it
everyone there has the same goal
they all want the sale to close
buyers - sellers - agents - lenders - closing agents alike
the reasons that the money doesn't arrive
all revolve around planning an execution
- did the buyer send the wire transfer soon enough
- did the lender send the wire in a timely manner
- was there a 1031 exchange intermediary involved
- was there a 401k loan being used
all of the money has to arrive - not most of it - all of it
or the sale is not considered closed
and there is no reasonable expectation to get the keys
when this situation occurs
that means sellers don't get any part of the proceeds
which can mess up their plans for that money
that could very well be needed for the purchase of their next home
and could set off a domino effect on subsequent deals that are tied together
today's show goes deeper into the reasons why this happens
and some best practices to help avoid these situations
...and what you should be paying attention to with regard to home prices
Many home sellers have listed their homes
that were overly optimistic in what buyers would pay
there are certainly real estate agents
that will allow their sellers to test "their price"
for 30 or 60 days to see what happens
quite often these home owners get amnesia
and never get around to reducing the price
down to where the market was all along
eventually these homes sell for well below the original price
so the buyers can feel like they got a great deal
as the negotiated a price that seems like a steal of a deal
when in actuality, they paid current market price
not every situation is the same
and there are certainly sellers that are more highly motivated
the wholesale buyers are consistently making lowball offers
in the hopes that they can find a seller that has to take whatever they can get
it remains to be seen if the market is actually dropping
or if we are in a space where we are experiencing
some occassional dips in the market
today's show explains the details
... is the most common strategy to invest in real estate
and it makes sense why
there are 3 ways to make money when you play the long game
- monthly cash flow
- increase in property value
- depreciation of the property for tax savings
it's been proven for to be the best return on investment
for more than 100 years
even outpacing the stock market
and while its "less sexy" than flipping
and less exhilirating than short term rentals
the consistent gains over the long haul
require the least amount of work
as you not required to be an expert in renovations
or set up a team for the constant move in/move out
whether you buy 1 home with cash
or finance several homes to leverage your cash
buy and hold is the strategy that most investors start with
today's show discusses the reasons how and why it works
... are what savvy real estate investors are focused on right now
The conversations taking place are exciting
Whether it's planning a purchase or sale for 2025
or using capital in their invesment account carried over from 2024
from property - stocks - bonds - other sales
there is a significant amount of activity in real estate
that is on the brink of taking place
knowing that investors are opportunistic
there will be wins and losses along the way
while everyone wants to make a quick buck
the real money is made by those that are students of the game
Today's show shares several profitable strategies
...isn't always profitable
just because you can get a property below the list price
does not mean that you are getting a steal of a deal
understanding price and value in today's market
is where the money is made
knowing how to evaluate what the home
will eventually sell for
factoring in the unknown market conditions
several months down the road
is what separates the pro's from the joe's
- material and labor costs
- monthly carrying costs
- commissions and closing costs
erode profits every day
taking too long to complete the project
can wipe out all of your profits
market seasonality is also a big factor to watch for
today we explore the opportunities and pitfalls of flipping
... and why you may be paying more and getting less
The Insurance Industry has lost billions over the past few years
due to a series of natural disasters and tragedies
and similar to Las Vegas
they don't like to lose money
keep in mind that insurance is designed to mitigate risk
and depending how risky your condo building is
the cost to insure can go up dramatically
the only way to pay for this is to raise the HOA fees
which can make them unaffordable to many owners
some condo associations have made a decision
to carry insurance that is lower than full replacement cost
which means that if there is a disaster where
the building cannot be repaired
and must be demolished and ultimately rebulit
there would not be enough insurance money available
to put up the new building
the owners would then need to pay a special assessment
to complete the new building
and if that is not possible
the owners, in essence, own a share of the dirt where the condo once stood
we go over the nitty gritty details in today show
...is your 1st step to wealth building through real estate
This is the time tested number one way to make money for more than 100 years it has even outperformed the stock market during this time most investors start out small with 1 property many times it is a current residence that they no longer want to live in but don't want to sell (or can't sell for some reason) some do it on their own others hire a property manager and do much less work all month long they do sacrifice a little money but save a lot of time along the way and those landlords just watch for direct deposits each month today we discuss several strategies and a checklist of items to get you started on your journey to becoming a real estate investor
...is a growing segment of the real estate market
Most often it occurs when timelines have changed
those needing to sell a year or 2 after a home purchase
where property values are less than desirable to sell a home
create the largest category of of home owners in this situation
home buyers that had low down payments or none at all
and factor in that the sellers may have helped with closing costs
there simply may not be enough equity in the home today
to facilitate a sale where the owner would get a profit check
or even worse...paying money at the closing to complete the sale
recent FHA and VA Loan buyers are particularly vulnerable
so what if there was a different view of this seemingly troublesome situation
renting a home as opposed to selling it
would mean a transition from owner to investor
becoming a landlord paves the way for a renter
to pay off the owners mortgage over a period of time
there is likely some positive cashflow
and the mortage balance comes down every month
which opens the door to selling down the road
when prices are higher
and the loan balance is lower
but what if you had to pay $100-$200 per month for the mortage
in the long run it would be a small amount of money invested
to control an assset worth $250,000-$500,000
where else can you buy into to something like that so cheaply?
listen in as we go over the math in todays show
...Can be done by using a 1031 Exchange
Real Estate investors often use this strategy
when they want to be able to purchase more real estate now
and pay the taxes from the sale in the future
I am definitley not a CPA or an attorney
but here are some examples of why a 1031 Exchange is attractive
capital gains tax is due when selling most properties
short term capital games occurs when
a property is bought and sold in less than 1 year
the profit from the sale is considered ordinary income
it is added to the rest of your income and taxed at that bracket
long term capital gains occurs when a property is sold
when ownership is longer than 1 year
that tax rate is currently 15% of the profits
a 1031 exchange delays the taxes due
by placing the proceeds of the sale into a 1031 Exchange Intermediary
the money must be left in there until a subsequent purchase is made
you mjust identify 2 properties within 45 days of the closing
and complete a purchase within 180 days
we discuss several scenarios in todays show
detailing how things work out and why certain decisions are made
...many home improvements that you want to make
- roofing
- hvac
- plumbing
- electrical work
- fences
are prime examples of work that often needs a permit
and if you knowingly (or unknowingly)
do some work as a DIY project
or hire a handyman to perform work
that requires a permit
and/or needs to be done by a licensed contractor
you may very well fly under the radar for many years
and it may just come back to bite you
when you sell the home
many times during the home inspection
non-permitted work is detected
and then things can get messy
we give several examples of what might happen next
and the solutions that may "fix" the problem
...to add more square footage is worth considering
the time and cost of the project is often more than most want to take
quite often the homeowner elects to do 1 of 2 things
- keep the existing footprint in their home
- sell the home and buy one that has the size that they want
but if you were going to add space to your home
what would give you the best bang for you buck
especially if you plan to sell the home at some point
adding an extra bedroom is the safest choice
a bonus room would be the 2nd option in that scenario
now lets suppose that this is your forever home
then the door opens much wider
- a fitness room
- a sports bar
- a home theater room
- relocate the kitchen
- an outbuilding garage and loft
the best return on your investment
will be based on the timeline that you will remain in the home
we dig in today to guide you through the decision process
...do you really need to look at before making an offer
10 ?
20 ?
50 ?
the actual number may surprise you
I believe that today's buyers typically look at more than 100
now stay with me on this
given the amount of information available online
buyers are able to research properties in great detail
and rule out dozens of them based on their findings
this pre-work has greatly reduced the number that they see in person
now with that said
buyers may still do multiple home tours
often over an elongated period of time
which in turn means that some of those homes
go under contract with a different buyer
and the search then takes longer
there isn't a right or wrong way to shop
it just depends on your timeline and your goals
we expand upon these thoughts in today's show
...is "almost never" a good idea
- even for veteran home buyer
- even for contractors
- even if its a brand new home
Its not that the sellers are always hiding something
or that home builders are doing sub standard work intentionally
hidden defects happen
and construction works can make mistakes
home inspections can find those things
or confirm that everything is ok with the home
both are good outcomes for the home buyer
writing offers with no inspections may help negotiate the price
but may come back to bite you
when you need a wind mitigation and 4 point to get insurance
as the seller doesn't have to allow it
savvy home sellers may choose to pre-inspect their homes
before going on the market as part of a sales strategy
that lets the buyers know upfront
what an independent expert thinks about the home condition
here are some the most popular inspections
- whole home report
- 4 point inspection
- wind mitgation report
- well and septic
- wdo report also known as the termite inspection
... your life situation demands it
We all know the reasons to buy vs rent a home
- home ownership
- build equity
- have a place of your own
but what doesn't often get enough attention
are the reasons why it makes sense to rent
- change in family situation
- long hours at work
- lifestyle choices
- frequent traveler
today we discuss real life circumstances
where renting is the right choice
and when it becomes compelling to buy a home
....and how it impacts the market value of your home new homes are far more energy efficient than those built in years past adding in a solar energy system in addtion to that can reduce monthly energy costs even further the trick is to right size your decision based on the timeline that you plan to own your home solar energy has not proven to be a dollar for dollar increase in a homes value and for those that plan to be in their home for just a few years there may not be enough time for the cost to make financial sense for those that plan to be in the home long term and want to own a green home a whole house solar system may be the exact right thing to choose if you are an investor considering solar options spending some time crunching the numbers is advisable we go deep into solar energy products today and provide some thought provoking conversation
...and its coming up more and more
water is the main culprit in most situations
It can be a simple fix
such as adding gutters
it may be more complex
and require adding more drainage
or it could be something major
such as lower elevations than the neighboring properties
where all the water runs downhill toward the property
today we discuss a number of things to look for
as you look at properties
before you make an offer
and also what to watch for during the inspection period
after you go under contract
there is more than meets the eye
and we want you prepared for any situation
...and there are some twists in the plot
around 60% of licensed real estate agents did not sell a home in 2024
most stopped working long ago and are not likely to pay the upcoming dues
Here are my fearless predictions for 2025
30% of agents will exit the business
home sale prices will increase 3.4%
home inventory available will increase 15%
interest rates will decrease to 5.875% by the end of 2025
these are the most important numbers for most home buyers
listen in for my road map for 2025
with several strategies to get the best possible price and terms next year
... May Not Help You Out
If you are watching and waiting
for lower interest rates
before you buy a home
the banks are not dropping mortgage rates
for reasons such as
- the economy
- job reports
- inflation
- consumer confidence
- uncertainty
so when do rates finally go down?
or will they actually go up ?
what if there was a way to "defeat high interest rates"
today we go over our solutions
for those that are tired of waiting
It's been a struggle for so many people in the real estate industry in 2024
with so much focus on how many agents had tough years
we can easily forget that there are those that were very successful
today we discuss some things that have me feeling optimistic about 2025
interest rates are likely to come down
home inventory is increasing
which provides more opportunity for buyers
people are ready to move
and willing to trade their current interest rate
for todays rates, knowing that there are some protections in place
a 2-1 buy down is a great strategy in this market
and combining that with an eventual refinance
there is a path to getting the right house now
at todays pricing as opposed to future prices
and payment that makes a lot sense
at the end we talk about what real estate agents
will be facing in the year ahead
...Without An Agent Representing You
Can be easy and hard at the same time
experienced home buyers may be able to navigate the process on their own
and yet some will choose to hire an agent in this new market
among those buying for the 1st Time
we have noticed that the vast majority are choosing to hire an agent
today we go over some of the effects of the "new rules"
the required buyer representation agreements
that are now mandatory to provide any real estate services
have caused some discomfort for buyers
as well as real estate agents
today we share some thoughts on what we are seeing
we are not attorneys and we always advise
to do as much research as necessary to understand everything to your satisfaction
...to purchasing a home in a market that is really stacked against them right now
The monthly cost of renting a home
is quite often more expensive than owning the very same home
this is a problem
the 1st part of the solution is earning the highest possible credit score
car loans - student loans weigh heavily into the score calculation
new credit inquiries over the holidays to "save 10% on your store purchase"
can also negatively affect your credit score much more than most realize
understanding how to calculate the debt to income ratio
will serve almost everyone well as they prepare to buy a home
down payments can be as low as zero for buyers that served in the military
For Non-Veterans, FHA loans only require a 3.5% down payment
Interest Rate Buy downs can provide lower monthly payments
for the 1st 2 years of the home loan
and the home seller can help the buyer pay for it
many lenders are offering future refinances with no lender costs
think of this as interest rate protection as mortgage rates decrease down the road
todays show gives you the details on how to master these essential steps
...because it happens every year
home buyers that are looking at properties intently over the holidays
are typically more motivated than at other times of the year
whether their goal is to buy a snowbird second home
buy their retirement home with possible rental income
or the typical upsize, downsize, job relocation, or changes in family situations
its a time of very focused activity for this group
and with that
is an opportunity gained (or lost) for home sellers
for those that have their homes up for sale
its a golden opportunity to attract a buyer
its a fact that most home sellers think
"that no one buys over the holidays"
and most will wait until after January 1 to go on the market
which might be a critical error
there is far more competition after the holidays for this reason
home buyers are searching online now and making plans
and they are unaware of any homes that aren't currently on the market
and its the exact reason why savvy home some sellers
will go on the market in mid December
as they know it increases their odds for a quick sale at the right price
we provide some tips at the end of todays show on how to best position a property for a holiday sale
...and what you should be watching for that isn't readily apparent Beach House Bungalows are my favrorite properties They are quirky - charming - and unique in their own way hardwood flooring - fireplaces - old school tile are common some will consider renting out their bunglaows part time and they may create their own theme within their home and getting the chance to see these creations is a super exciting thing most of all - remember to let the whole experience be fun here are some things to keep in mind as you search for the right one they may be 50-100 years old its close to sea level - is it prone to flooding or susceptible to wind damage many are pier and beam construction - with crawl space area below the home several additions - enclosed carports and lanai areas are common roof designs - tile - metal - shingle plumbing - does it have cast pipes that need replacement electrical system- older panel boxes - fuse box - cloth wiring may need attention central air vs mini splits options based on available duct work I could go on and on enjoy the journey
... can absolutely be found between $100k-$200k if you know where to look
what should you be looking for?
and what do you need to know that you may not know right now?
many people see inexpensive condos and get excited
they usually are looking at condotels online and don't always realize
that they are different than your typical condo
think of them as a condo hotel - efficiency units in most cases
quite often they have very few rental restrictions
and can bring in cash when you arent using them
its low barrier to entry and almost always a cash purchase
there are definitely 1-2 bedroom condos available under 200k
these can usually be financed
but they almost always have some rental restrictions
to be honest some people have a bigger budget
and for that group, a 500k condo may seem like a budget condo
its an interesting time of year as the snowbirds are arriving
and the condo market is starting to heat up
...and it's harder than you thought it would be to get it done
Let's face it - it sounds like a simple thing to do
today we discusss what to look out for (and look out for)
It is possible to find a lot to do what you want it to do for you
but when you peel back the layers of the onion
you discover that much of the raw land may/may not have improvements such as
city water - or a well
city sewer - or a septic
electric to the property
a driveway in place and road frontage to actually get to the property
a survey map of the boundaries so you can add fencing
an elevation certificate to see if you can build on the property
does the city/county zoning allow the specific use of the property you want
and is there a Home Owners Association that has its own set of rules
today we take a deep dive on how to accomplish your goals
...And The 3-4 Things that you absolutely need to know before you interview an agent about selling your home are you trying to time out the market ? waiting until after the holidays? waiting for interest rates to go down ? Interestingly enough - the things that cause sellers wait to sell can work for them and against them at the same time there are less homes on the market in December than in January almost every year while there are less buyers in December they are much more motivated buyers that are planning trips for January to see homes are looking at homes available now and for those that need to sell it makes sense to be visible in December today we go super deep on what you need to know
... can be financially difficult in the current real estate envirnoment Many home owners are dealing with unplanned sales of their homes For those that purchased in the last year or 2 and financed their purchase with a low down payment program Such as a VA or FHA Mortgage There may be very little equity in their home And if there were also some of the buyers closing costs paid by the seller Then its a good possiblity that their equity is even lower Factor into the equation that home values are no longer rapidly appreciating And you begin to see the problem unfold The closings costs and commissions at closing Take a big bite out the sellers proceeds and create a scenario where the check they receive at the table is smaller than they had been anticipating and there is real possibility that some may need to write a check to cover a shortfall if their equity isn't sufficient to pay of the loan balance which means that some sellers will need to get creative to make it work
... is behaving somewhat normally as we head towards the end of the year
The dustup regarding Buyer Brokerage Agreements back in August
didn't destroy the market as some had predicted
Home buyers quickly adjusted to the new forms and for most its a non-issue
I find it interesting that the most asked questions now aren't about BBA
Home values are the real topic right now
Researching "whats my home worth" is the precursor to selling a home
and its becoming very clear that many people are getting ready to make a move
deciding when it's the right time to sell a home
and buy a new one is on the minds of more people than most realize
there is pent up demand that is coming to the surface
and its not just individuals and families
investors and flippers are also back in the market
things are shifting and there is a noticeable increase in activity
which suggests that the market is about to make a move
... is once again upon us the annual flock of people looking to escape the colder weather start to descend upon southern coastal areas such as Florida seeking sun, sand and warmer temperatures the locals will notice that populations will rise during these seasonal times initially most snowbirds will stick their toes in the sand for short periods such as a week or perhaps a month eventually increasing the lenght of their stay to a few months typically starting after the holidays and new year manufactured homes and mobile homes can be an inexpensive way to test it out condos are popular for those that are looking at 2nd homes/investment properties condotels are popular with cash buyers that also want rental income beach bungalows are a personal favorite of mine some love it so much that they make the BIG MOVE and become permanent residents for these travelers - this is "the most wonderful time of the year"
...While Mortgage Interest rates zagged
Most people were expecting
that when the Fed dropped interest rates
home mortgage interest rates would do the same
and yet that isn't how things have played out recently
recent drops of .5% and .25% at the Fed
lead to...
wait for it...
INCREASES in mortgage rates by similar amount
it is believed to be temporary and not unnatural
there are many other factors in play at the moment
inflation, job reports, and banks pricing rates in advance of Fed movement
should home buyers wait it out?
I share some suggestions for home buyers who are uncertain of their next move
The direction of the market is beginning to take shape
There is increased activity
which isn't shocking
the election is over
the Fed dropped interest rates last week
inflation is lowering
and sellers that have held off going on the market
are taking action as we speak
it is shaping up to be an interesting end to the year
Home Builders are making deals to stimulate sales
todays show gives you all the details that you will need to be informed
The builder reps are out in the field and visiting real estate offices
bringing some tastey treats and marketing materials
for anyone that has even a little interest in moving this year
its absolutely worth a look at a move in ready new home
be sure to research the lot premium
investigate closing cost credits and incentives
if the home you are interested in
is the last one available in a subdivision that is closing out
you may be able to negotiate the ever elusive sale price reduction
We are on the cusp of a significant increase in real estate activity
A large number of people that have been "watching and waiting"
Will be jumping back into the market to buy and sell properties
The elections will be over soon
The Federal Reserve will have 2 more meetings this year
November 6-7 and December 17-18
It wouldn't be surprising to have at least 1 interest rate decrease
cheap $ fuels investments for cashflow reasons
Inflation numbers are trending downward
Investors sell properties as part of their end of year tax strategies
Stock market investors also do the same and reallocate into real estate
the short term rental dynamics are changing as well
get ready for a Rocket Ride
Not in the way that you are thinking...
Home prices have gone up after every election but 1 in recent memory
Even if this was not an election year
Market conditions suggest that prices would go up
A few of the leading indicators that I am paying attention to are
Inflation - which is trending lower
Interest Rates - which are also trending lower
Available homes for sale - slowly increasing but not a balanced market yet
Investors Make Moves at the end of the year for tax purposes
There is a real possibility of a holiday surge this year
Keep in mind that investors have 3 possible wins in every property
cash flow - depreciation for tax purposes - increased property value
....we take a deep dive on things most people aren't aware of and discuss some of the ways that you can protect your home and family and what you need to know when you repair the damages in your home to reduce the risk of health concerns in the future whether it was a roof leak, wind driven rain, or rising waters that caused your home to flood there a number of things that you want to consider when your are choosing the right repairs and contractors removal - remediation - abatement may all be on the table drywall may need to be removed cabinets and doors may need to be detached floors may need to be ripped out mold spores may be present and if so using fans may not be advisable in older homes you may have asbestos or lead based paint in some cases there may be buried kerosene or fuel oil tanks any of these things that mix in with the water in your home could present some big concerns and need specialized treatement
...is an option for many hurricane affected people
FEMA is a major resource
there is an application process for the affected individuals
it is subject to government funding so apply as early as possible
the state of Florida has set up a small business emergency bridge loan fund
this a temporary program it is needs based and you will need to supply financials
The SBA also has a disaster relief loan program
business and personal financial information is required to apply
at a time when cashflow is a concern
these programs offer the relief that families and businesses alike
need to move forward in the recovery process
...and it happens in an interesting way
it begins with a problem
there is a home that the owner needs to separate from
perhaps due to a job relocation
maybe a change in the family situation
initially the home may be put up for sale
but there are times where the sales price available
simply doesn't make sense
and suddenly it becomes a rental property
that brings in much needed cash
and allows the owner to sell in the future when its more advantageous
for many it works out very well
and they begin to accumlulate more single family properties
the next natural step is to explore multi family rentals
we break that down in detail during todays show
...is easily the most sought after tool in real estate today
oddly enough, there isn't an algorithm that does it for you
and no button extists that gets the price right
if you ask an appraiser...
pricing a property is a bit of an artform
if you ask a realtor...
they might leave you feeling like its an impossible thing that only they can do
if you ask me...
there are 3-4 things that really matter
location
condition
marketing
price
and if you are determined to sell your home
either on your own
or with the help of an agent
think about the danger of the 3 P's
Time To Pitch In and Help... Wyse Home Team at LPT Realty is now converting its office space Into a donations center for those affected by Hurrican Helene We are able to accept donations Monday - Friday 9am - 5pm At our office at 365 Bill France Blvd in Daytona Beach FL 32114 If you have questions, you can call/text me at 386-562-2651 You can also comment below or send me a PM We are working quickly with LPT Realty to get set up This is evolving quickly and more updates will be provided If you are able to, please consider donating
...too Expensive And Don't Necessarily Take Too Long To Build Builders Have Caught Up with the demand for new homes And there are move in ready homes available in 60 days or less Custom build times are much shorter than in the past few years Closing cost incentives are avaialble 2-1 Buydown Programs can lower your monthly payment in the 1st 2 years Some builders are closing out subdivisions and may have more incentives Other builders want to clear some inventory before the end of the year The vast majority of builders are Real Estate Agent friendly and since most buyers want to have their own representation its a very opportune time to revisit the benefits of New Construction
...That Their Short Term Rental Property Profit Went Poof
The last few years saw a significant amount of short term rental purchases
For many, there were solid cashflow returns in the beginning
Unfortunately - Many Investors profits have dropped dramatically
Travel is down across the board due to inflation
and the hotel industry has increased their efforts to attract the available market share
In many cases, the properties that the investors purchased
were not zoned for short term rentals
and it was never discovered during due diligence (or simply ignored)
And now those fully furnished rentals are not highly sought after as long term rentals
which creates a major issue for those owners
most long term renters want to bring their own furniture
and are unwilling to pay storage fees
so the property owner is often forced to move their furniture to storage
or sell it off at a steep discount
neither of which is ideal
at the end of the episode, I discuss the options available for these impacted investors
The highly anticipated Fed Meeting will take place this week
It may not actually have much effect on mortgage interest rates
which is the #1 reason why home sellers will wait to sell their homes
their reluctance to give up -2%-4% rates on their current home is the logjam
The Fed will drop interest rates - write it down - they will do it
I predict a .25 rate reduction
I also predict that mortgage interest rates will go down less than .25%
Banks have been pricing in the anticipated rate drop
so home buyers may not get as big of a drop that they were hoping for
The Fed Rate has been at a 23 year high for quite some time
and the time is right for a rate drop
some homeowners that purchased in the last 2 years at rates between 7-8%
are going to be adble to refinance soon
as rates are now sitting on the 6-6.5% range
I am not sure that this will be enough of a rate drop
to get sellers locked in at 3-4% from purchases a few years back
to sell their homes, but its a step in the right direction
this will play out gradually not quickly
... That Things are very different for home sellers
as they try to navigate the new real estate rules
Today I give guidance based on the the questions that have come in recently
choosing the right sales strategy
the most effective marketing plan
and negotiation tactics
are paramount to success
whether or not to pay a commission
and at what level is not necessarily an exact science
the soultions in todays episode will provide some much needed help for many
... has always needed to navigate a unique set of circumstances
and now there will be a new layer of challenges
added into the mix of the numerous steps in the sales process
access to the home for viewings, inspections and appraisals
will work differently with the recent industry changes
the main issue is that the the sellers agent
will need to walk a fine line between assistng the buyer
vs providing real estate services
fiduciary responsiblities are well documented in real estate agreements
and the new rules are very specific in what can/cannot be done now
its up for debate as to whether or not an unrepresented buyer
will be able to navigate the home buying process
as easily as they might have done before the new rules started
it will be interesting to watch how it plays out
as the market adjusts and interest rates come down
Todays Episode Discusses why there are opportunities in Florida Real Estate
Waterfront Condos - In Particular are heating up
And If you understand why there is movement
it increases your odds to make a solid profit on your investment
I break down key items today in bite size pieces
special assessments - reserves - insurance
the market is shifting
and that doesn't have to be a bad thing
by the end of the episode
you will be ready to make an educated decision on your next move
... The new NAR Rules 1st week have been kinda quiet
It really isn't a shock
The real estate industry is experiencing less sales this year than last year
And now that consumers are being more selective when choosing an agent
It makes sense that they may take a little longer to select an agent
and some will likely consider being "unrepresented" and do it themselves
with the amount of research and studying of reviews
for purchases as inexpensive as a breakfast or lunch
I gotta believe that people will take at least that much time
to do the same with regards to agents reviews and track record
in all honestly - every bit of this seems to be a good thing
don't we do the same thing when choosing a doctor or a lawyer ?
sometimes the issue isn't just the price
sometimes the expertise is more important
the quiet will go away soon enough
but for now - lets just embrace it
On the other side is a better experience for the consumer
and an opportunity for the real estate industry to level up
Real Estate Changed Forever
The Good News is approximately 95% of consumers are not affected by it this year
For the rest of the consumers
That are in the real estate market to buy or sell
That want to use the services of a real estate agent
A signed formal agreement must be in place prior to touring any properties
There are no exceptions
And there are significant penalties to agents that do not have these in place
Its going to feel different for a bit
Buts its not unlike the formal listing contracts to sell homes
That have been frequently used by most sellers for many years
This new era of real estate will create questions
We are here to answer them
The NAR Settlement Changes Go Into Effect on August 17
Many Brokerages are Supremely Prepared for this "event"
They Will be "The Winners" in the phase of the market
Home Buyers will be now be termed "consumers" in paperwork
Consumers will be making important choices
The Right Agent
The Right Home
The Right Terms
Which really isnt all the different
There are some specific paperwork changes
That a well prepared real estate agent
Can safely guide their consumers through
It Doesn't need to be a scary time...for anyone
There is good news.. It will be a relatively simple process to buy a home when the new rules go into effect August 17 Any home buyer that is working with a real estate agent Will sign a "BBA" Buyer Brokerage Agreement the agreement will state the terms of the working relationship similar to an engagement letter with an attorney
terms such as length of contract and the fee will be stated many buyers and their agents will use a 2nd form that will ask the seller to make a monetary concession
that can be used to pay for their buyers agent
that goes along with their written offer to the seller
buyers do not have to use an agent to buy a home
and everything is negotiable
just as it has always been
the paperwork is a little different on these 2 forms
but most everything else is largely the same
if you have questions - message us for more information
I have a duty to share this information
Consumers and real estate agents are getting mixed signals
until there is clarity on how things will work
once the NAR Settlement guidelines are implemented
the one thing that I want to say loudly to my fellow agents
is that the best strategy is to adapt within the new guidelines quickly
trying to find a sneaky workaround is simply a bad idea
there is some good news among all of this
change can be good
and in this case
once everyone adapts
things will get easier and better
its time to take that next step together
Investement Properties Are Heating Up
For Buyers
For Seller
For Accidental Landlords
For Those That have remained on the sidelines
Today we go over the math
And share where the opportunities that we are seeing
The Top 7 Mistakes FSBO Sellers Are Making
pricing the home wrong
don't answer their phone
requiring proof of funds just to see the property
“home tours”
hovering over buyers
closing agent choice
over negotiating
Commissions offered
There is way too much misinformation out there
Consumers are getting some really bad advice
There is certainly going to be change in the real estate industry
But its not the change that people are hearing about
I have no intention of debating the settlement
That is for other people
What I will say
Is the vast majority of the change
revolves around commissions not being displayed in the MLS for agents to view
This isnt the end of real estate commission
Listen in and let me know your thoughts
No candy coating here
Homeowners Insurance issues continue to be an issue
Applying for Insurance is the new normal
No longer do we "just go get it"
And with that - home sales get more complicated
Is this the catalyst that will drive home values lower ?
We dive deep today with the reality of these situations
Getting A Home Under Contract Is Less Than Half The Battle
You would think that finding the home
and negotiating the right price
would be the 2 hardest things
thats not the case in 2024
inspections and insurance are the top 2 deal breakers
now more than ever
these are the most difficult things to naviagte
Many home buyers want the seller to "be the bank"
Its something they heard about
from a friend
on a tv show
on the internet
the cold hard truth
is that it isnt the best scenario
for a lot of buyers and sellers
once they explore the opportunity
there is absolutely times where it makes sense
to both the buyer and seller
we dig in deep today and discuss those scenarios
What to expect during a home inspection
There a few reports that most buyers
want to have done for most purchases
4 point inspection
wind mitigation report
wdo - wood destroying organisms report
pool, septics, hvac, plumbing, electrical, roof
the list just keeps growing
we talk about how to keep it all straight today
then at the end we talk about
how the conversations
and collaborations among agents
is evolving as the real estate market changes
Do I need to offer commission to Buyer Brokers Now its 100% up to the seller as to whether or not they offer compensation to sell their home its always been a choice there is merit to offering compensation then we discuss the direction of the insurance industry as it relates to real estate affordability
a lifetime roof doesn't always last a lifetime
what do you do next when it fails
several solutions exist and while some of the options aren't exactly ideal
there is a path forward
for most buyers and sellers to work through this
some home owners are cashing in
and there is a growing number of people
that are using a rent - rent strategy
Commmitment Issues
The biggest issue in real estate is commitments
not a lack of commitment by agents or consumers
its simply too many commitments
its seems like everyone has too much going on
too many places to be
too many promises to keep
and it is getting in the way of some really important things
there are only 2 paths
check off every box on your never ending to do list
or prioritize the home move that has been set aside for far too long
…and then get back to that the other things once you are in your new home
List to last
agents have been trained in this for years
and I think the trainers only got it half right
too often , agents were taught to only focus
on agreements with sellers
buyer agreements were barely mentioned
and certainly not a point of focus
its unfortunate but its true
the training is now shifting
and going forward
both buyer and seller agreements
will be getting plenty of attention
if anything there may be an over correction
with the majority if training shifted
to the buyer side of the business
Pre Retirement Condo Buyers It can make a lot of sense to make the investment now how does it make sense to buy a home now with interest rates higher than my current rate the math behind it gives clarity the wealth building strategy is key renting out your current property would like be a sizable profit each month that can be use toward your new mortgage in the home that you would rather live in and even with a higher rate your payment maybe less with the rental profit your rental will provide tax benefits and that mortgage being paid down also builds equity wealth if the property goes up in value for additional wealth building and the higher rate on the new home could eventually be refinaced down the road for even more wealth building
Getting the right information, at the right time, isn't that what its all about ?
An abundance of really smart people have been reaching out lately.
They aren't looking for explanations on "what just happened with the NAR Settlement.
They are looking at strategies for what happens next.
Did I mention these are really smart people, asking great questions?
There are opportunities in every market, and this might be a BIG one
While some Realtors Went a Little Crazy since the NAR Settlement was announced, The Rest of The World Just Yawned. Literally just yawned.
Aside from a few news outlets, that are attempting some click bait stories, the news world has moved quickly to other more critical topics
My suspicion is that other than some realtors continuing to drag out this discussion, as opposed to focusing on the solutions needed, this topic will fade away just as quickly as it showed up.
Every industry has a moment where things change abruptly, and this is just one more example.
We are looking forward to focusing on the topics that matter most in the weeks ahead
Enjoy this episode and a few humorous takes that I have shared.
NAR Settlement $418 Million is sending shockwaves throughout the Real Estate Industry.
Things just changed forever, Right ?
Well yes, no, and not so fast...
I believe that a menu of options will immediately become more readily available to consumers
But those options we always avaialable.
Consumers will seem them on marketing materials more often, which isn't necessarily a bad thing
The industry will see a big shift in fundamental knowledge and skills ratcheting up
And consumers will become even more reliant on personal and online reviews
to choose how much representation they want and by whom
Its seem that most industries have had a moment like this on the last 5-10 years
Looking back, we have seen moments like this throughout history
Real Estate just happens to be the industry feeling it the most right now
Home sellers have been terrified for many years to put their homes on the market. The worry comes from the fact that homes were selling in a nano second. That has changed. As see more and more homes hit the market, sellers are more willing to list thier properties for sale
There is an insurance issue raging through condo markets that could change the values of some units in developments that are under insured and/or unable to make pay for necessary repairs of roofs and balconies.
Tune in for our take on what all of this means to you
Special assessments in condos are beginning to affect condo values. They are mainly occuring due to increases in the requirements by insurance companies. Roof and balconies are being repaired/replaced much sooner than the end of their useful lifespan.
Some condos reserve funds are depleted, and the cost it big ticket items either needed to be financed or divided among the individual unit owners. Since not every owner has enough liquidity to pay for these impending special assessment, some owners may sell at a reduced price to get out from underneath the debt obligations. Tune in for the down and dirty details
We got a curveball when interest rates didn't drop as anticipated. Not so surprisingly, there wasn't much of a negative reaction from consumers. At this point, home shoppers are not stopping their purchases over a quarter point.
Inventory has been growing in many markets, and this has contributed to homes buyers moving forward without much complaint.
At the end we share a few thoughts on new consturction and how home buyers and sellers are selecting the real estate professionals
We have reached a milestone. We heard that only about 6% of all podcasts make it to
Episode #100. In celebration and gratitude of this moment, this is my memo to real estate industry professionals. Lets Be Better this year...and every year in the future
The game has changed for Real Estate sales professionals. The easy sales have gone away, and now the top 10% of agents , and real estate teams are poised to dominate in 2024. Fundamentals have weakened over the past few years, and now those that have been committed to honing their craft are seeing a huge payback for their dedication to the details that matter to consumers. Competition is stronger than ever, and the end result is a better consumer experience in the home sales process.
Tax Season has always had an effect on the real estate market. Today we discuss the reasons that it might be easier, or harder to get mortgages approved for home buyers.
Self employed borrowers - We have some insight for you, and a simple strategy to ease you through the qualifying process.
As housing investory rises, and interest rates steadily decrease, there will be massive opportunity for home sellers that have terrified to put their homes on the market in recent years.
Let us know how you feel about the direction of the real estate market.
This week we discuss the 4 biggest things that will affect the 2024 Real Estate Market. We go deep on the inventory levels, interest rates, market movement conditions, and wrap it up with some short term rental profit rumblings.
Short Term rental revenues are down 35-40% nationwide, which is presenting some wide open opportunities for investors. Today Ron discussed all of this and more. #blackholeofrealestate #posdcast
If you watch the news,it might feel like doomsday is impending for real estate. But if that's the case, why are so many homes still selling? Who is buying them? Ron also discusses 1031 exchange transactions and shares why so many homeowners who need to move are choosing to rent out their homes rather than sell them. All that and more in this week's #BlackHoleOfRealEstate #Podcast
Moving during the holidays. Sometimes, it just can't be avoided. Today, Ron's discussing preparations and and pricing strategies for those homeowners who find themselves making a move at the end of the year. He also covers what to expect on the purchasing side as well, including lender prequalification, scouting properties while inventory is low, and will walk you through perfectly timing both the purchase and sale to your advantage. Finally, Ron offers a few quick tips on some of the things that are motivating people to buy or sell real estate at year's end. Get all these details and more in this week's episode of the #BlackHoleOfRealEstate #podcast
In today's episode of the #BlackHoleOfRealEstate #podcast Ron is talking about the $1.8B court verdict against the National Association of Realtors that could be cause for major changes in the real estate industry. Ron also discusses what he calls the "silly season" in real estate, when it's common for real estate agents to move brokerages during the final quarter of the calendar year.
In this week's episode of the #BlackHoleOfRealEstate #podcast, Ron is taking a look at the September home and condo sales trends and statistics for the Daytona Beach, FL market area. He'll touch on how the market today compares with this time last year. Ron also spends some time sharing his predictions for what we can expect the real estate market to do in the final weeks of 2023.
Things have changed for the real estate market in 2023, and today we're talking about it! . Hear how home sellers are responding differently to offers on their home this year, compared to seller behaviors in 2022. And this year, buyers are enjoying having far more tools to work with than in the recent past. How do these new conditions align with the main reasons most people choose to move? And what does the home flippling scene look like now? Is the flipping frenzy over? This week we discuss all these topics and more in Ron's #BlackHoleOfRealEstate #podcast
This week Ron is helping waffling would-be home buyers consider the pros and cons of buying a home this winter, versus waiting longer for interest rates to improve. Then, Ron discusses lending strategies some buyers are using to make the most of the current mortgage market conditions. Get all the details in this episode of the #BlackHoleOfRealEstate #podcast
Dealing with the decline of an aging loved one is HARD. It's extra tough when it's your parent or parents. And inevitably, part of the process often involves having to move your parents somewhere new after they lived in the same home for many years. In most cases, it's a thankless, heartbreaking, but necessary task. It's situations like these that Ron discusses in this week's #BlackHoleOfRealEstate #podcast
Today, Ron is providing answers to real estate buyers' burning question right now... Will we finally get some relief from the high home prices? He offers guidance on how to make the most of motivated sellers in the upcoming holiday season. Offers market guidance for real estate investors. And even touches on how predicted extreme winter weather predictions might affect the real estate space. Hear these topics and more in this week's #blackholeofrealestate #podcast
For decades, many home buyers have been timing their moves and home purchases for the summer season, when the kids are out of school. But that may be shifting thanks to more remote work and an increase in home schooling. This year, many real estate companies are reporting strong fall season sales and new listings, where historically those months have been slower. Meanwhile, other changes are occurring in the market of buyers purchasing vacation and investment properties. People are tired of visiting the same place ever year. And with AirBNB owners reporting lower ROI this year than in the past, plus talks of tax law changes that might affect short term rentals, many investors say they plan to sell their STRs by year's end. Ron's discussing all that and more in this episode of the #BlackHoleOfRealEstate #podcast
In today's episode, Ron digs deep for homeowners to explain how today's higher home prices and mortgage interest rates are compounding on home buyers and sellers. Ron doesn't just talk about trends, he answers the question of whether selling your primary residence might is a bad idea right now. Also in today's episode, Ron discusses how many real estate investors are repositioning their money amid the changing economic climate. And Ron touches on the suprising tax benefits of selling a home at a loss, and how the right tax strategies can help owners hedge their risks against future costs like condo assessments, insurance hikes, and deferred maintenance. This is information you can USE, so don't miss today's episode of the #BlackHoleOfRealEstate #podcast
This week, Ron spills some important secrets for first time real estate investors. He will guide you through the ins and outs of ensuring a strong about cash flow, the RIGHT kinds of financing, and and even how there's HIDDEN CASH FLOW in your mortgage amortization schedule! Ron covers asset depreciation, and guides young investors on how lenders are currently using rate guarantees to offer buyers a chance to refinance their loans COST FREE for 3-5 years. This is one episode of the #BlackHoleOfRealEstate #podcast you don't want to miss!
In today's #BlackHoleOfRealEstate #podcast, Ron offers some predictions about what we might expect from the real estate market in the 4th quarter of 2023. He also does a deep dive with information on investment property loans in which the buyer is using projected rental income to qualify for the loan.
Listen in as Ron takes a look at the latest reports on single family home sales around the Daytona Beach Area. With a 20 percent dive in the sales totals during the busy summer sales season, what does that mean for the rest of 2023? Ron discusses the bigger picture of home sales around Florida. He hits on the current mortgage financing challenges and how lenders are adapting products to help home buyers. And he looks ahead to what remaining months of 2023's housing market could hold for buyers and sellers. All that and more in today's #BlackHoleOfRealEstate #Podcast
The Florida condo market has undergone a LOT. Inflation. Inventory shortages. Devastating storm damage. And yes, the latest reports show condo sales are down. But the market CRASH hasn't come. And today, Ron discusses whether it ever will. Ron also digs deeper on the painful struggles hitting Florida's tourism market and the private vacation rental market. And this week's episode ends with a air deeper explanation of the devastating impacts coming because of the growing condo building insurance and condo owner's insurance crisis in Florida.
The fiery hot competition in Florida's real estate has been dampened. Bidding wars and multiple offer situations are largely over. And homes are taking longer to sell. Is Florida real estate losing its allure? What do these slower market conditions mean for Florida's home buyers and home sellers? Ron digs in and offers his expert perspective on Florida's real estate trend with advice for both buyers and sellers. Ron ends with discussion of where mortgage interest rates might be heading in the next few months. Hear all that and more in this week's #BlackHoleOfRealEstate #podcast
Today, Ron shares sales and pricing trends for single family homes in the Daytona Beach, Florida area. And with hurricane season in full swing, Ron offers some timely discussion about home hurricane preparations and risks, with helpful tips for home owners and home buyers. Ron ends his segment on the topic of short term rentals. There's a lot to unpack in this week's #BlackHoleOfRealEstate #podcast so grab a comfy seat and listen in!
Today, Ron takes a look at single family home sales in the Daytona Beach, FL area. He also discusses some of the many issues and concerns surrounding Florida's homeowners insurance crisis and how it's impacting homeowners, condo owners, HOA's and even the possibility that Florida's tale of woe could spill over state lines! All that and more in this week's #BlackHoleOfRealEstate #podcast
Today Ron's talking abot how the real estate market got to where it is. He hits on topics like why high interest rates and high inflation are not slowing the increase in Florida's home prices. And offers into his theory on that home inventory at a national avereage could be squeezed again this summer.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
In this informative podcast, the speaker discusses the real estate inventory and its impact on the industry. The speaker provides authoritative insights on the market's bottom, lending principles, and rising interest rates, dispelling conspiracy theories surrounding 2008 times. The friendly tone sets the stage for listeners to understand the factors contributing to lower inflation and interest rates expected by the fourth quarter of 2023.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Current real estate market talk with a local title agency CEO, Rick Nayar expressing his opinions of how the market is and where it's going.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
It's time for a recap on the real estate industry this year and what's going on.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
With the ever-changing landscape of short-term rentals, whats going to happen next? Lets take a deep dive into what we think is to come!
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Where are all the agent's heads at and what's going on?! With all the chatter going on in the market, some agents are falling back out of momentum.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Explore what it takes for a roof replacement and understand how to assist your client with one.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Jump in and take a dive down where real estate insurance went and how it can be important to your clients' next closing.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Let's dive with Ron Wysocarski into the current market trends and analyze what's exactly going on...
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Real estate has come a long way from a few years with the evolution of technology and avalability.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Although interest rates are dramatically higher than last year and home prices continue to rise, the demand for homes remains. The level of available inventory has increased, so we suggest working with an agent who can provide you with a Market Analysis to help you determine if you're making a competitive offer on your dream home, or that you get a competitive price on the sale of your home.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Let's dive into how the market shifts will affect your casual and institutional clients.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
In this podcast, we will discuss the economic outlook for the next 6 months and how investors can use this window of opportunity to their advantage.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
As the economy begins to reawaken from its extended slumber, savvy real estate investors are gearing up for their next big venture.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Daytona Beach area home sales plummeted in January to low levels not seen since the last major recession. The last time Daytona Beach home sales started the year below 215 homes sold was 2012.
All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Let's take a dive into a Q&A with Ron Wysocarski on what it's like to be a Realtor! You'll get the ins & out's of the day-to-day activities and how to THRIVE! All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
With interest rates at a high and inventory down, 2023 could be a hard year for most agents. However, it doesn't have to be a difficult one! All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Want to help your client's VA loans get approved every time?! Tune in for this game-changing strategy and get AHEAD of the competition! All this and more in this episode of #BlackHoleOfRealEstate #podcast
Connect with us: https://linktr.ee/realestateinanutshell
Start 2023 off with a BANG! Make it your best year yet. You'll master key selling strategies that'll blow the competition away and how to maintain a winning mindset in this ever-changing market! All this and more in this episode of #BlackHoleOfRealEstate #podcast
What’s driving this market even though interest rates are still rising? What’s different today? Are sellers terrified? I’m talking about interest rates, and numbers with today’s buyers, sellers. Plus, I have a special strategy to help you navigate and win! All this and more in this episode of #BlackHoleOfRealEstate #podcast
FHA and VA Loan Buyers are Struggling To Compete In Today's Competitive Real Estate Market Conditions
New Market Trends Offer Hope
An Update On Instant Buyer Programs
All this and more in this episode of Black Hole Of Real Estate podcast.
Student loans having an interesting impact on home buyers as they work to qualify for a mortgage.
Understanding your Debt To Income ratio when buying a home.
And a bit on Florida's still-hot home sales numbers now that the kids have headed back to classrooms.
All that and more in this episode of #BlackHoleOfRealEstate #podcast
Condo market conditions across the Daytona Beach area.
Foreclosure bans and what they could mean in the months ahead.
Something to consider with your SBA Loans.
Ron is discussing these topics and more in this week's #BlackHoleOfRealEstate #podcast
What's going to happen to home prices in the last half of 2021?
New opportunities on the horizon for first time home buyers.
Talking about the top cities in the US for relocations.
All that and more in this week's #BlackHoleOfRealEstate Podcast!
Buying a beach condo and the current condo market conditions.
Rent it or FLIP it? Is the flip market DEAD?!
FSBO. Houses are selling fast, so do you actually need a Realtor right now?
All that and more in this week's #BlackHoleOfRealEstate podcast.
Home sales and prices have been climbing for many months. What can we expect is ahead?
So you got a great job offer... somewhere else. There's a few things you should know about getting a home loan in conjunction with a job relocation.
Get the important info on these issues and more in this week's #blackholeofrealestate #podcast
Is there enough margin in the real market for flippers to make a profit right now?
AirBNBs and VRBOs: Short term rentals are changing the real estate market.
Hey real estate agent... are you actually on track with your sales goals?
Ron discusses all that and more in this week's #blackholeofrealestate #podcast
The real estate market frenzy continues with no end in sight.... or is there?
Lending and insurance issues are stalling some home sales.
Is the market bouy tricking some agents into believing their business is doing better than it is?
Ron chats about all this and more in this week's #blackholeofrealestate podcast!
Ron kicks off the 50th podcast episode with a look back at how the Black Hole Of Real Estate got started.
Ron also talks about the substantial increase in PMI (Private mortgage insurance) policies issued over the last year.
He offers insight on whether there's potential for more foreclosures hitting the market in the months ahead.
And a look at how changes in Florida law related to builder impact fees could affect builders, communities and new construction buyers.
Florida's real estate market continues to be ON FIRE, and we expect it's going to heat up even more.
Something's got to give!
Foreclosure bans have been lifted. What will happen next?
Building material costs are seriously skyrocketing.
And there's a whole lot of talk about a real estate market bubble and an impending CRASH!
Ron get's deep in the trenches with these issues and more in this week's Black Hole Of Real Estate podcast!
The year is already 1/3 done. What we've seen so far, and what may be coming.
In this week's #podcast, Ron is talking market conditions, rising home sales and crashing inventory levels.
He also offers some tips for agents, home buyers, and home sellers.
Demanding inspections and appraisals coming back too low for buyers are issues that have become more commonplace in the hot real estate market conditions.
And more people are finding themselves in the position of Landlord... by accident!
Ron talks about these issues and more in this week's episode of the #blackholeofrealestate #podcast
The Black Hole Of Real Estate podcast turns 1!
Home prices are sky high. If you wanted to buy, would you be paying too much?
Middlemen standing between the consumers and real estate agents.
Ron discusses all that and more in this week's anniversary episode of the #blackholeofrealestate podcast.
With prices climbing through the roof at lightspeed and inventory levels hanging out below sea level, property appraisals and home inspections are creating some sticky situations for home buyers right now.
Ever heard of an accidental landlord? They are more common than you might think.
All this and more in this week's Black Hole Of Real Estate podcast.
Homeowners insurance rates and behaviors are changing in ways worth noting and discussing.
And did you know many real estate investors are using some interesting buy and hold strategies right now.
Plus, homeowners and investors of all varieties are increasingly taking advantage of paid property management services. Should you be considering it?
All that and more in this week's #blackholeofrealestate podcast!
The real estate market continues to be hot as hellfire and multiple offer situations are everywhere.
Federal income tax refunds have started going out to filers.
And a few words on Zillow's latest acquisition.
All that and more in this week's Black Hole Of Real Estate podcast!
In this week's podcast, Ron looks back at the challenges of 2020 and how that affected real estate markets.
Plus, a discussion on how the current market conditions are affecting For Sale By Owner (FSBO) homeowners who are trying to sell their homes without the help of a real estate agent.
Homeowner Insurance Company Citizen Announces Rate Hike.
Zillow is ruffling more feathers across the industry.
New construction is BOOMING. We have some tips for buyers.
All that and more in this week's Black Hole Of Real Estate podcast.
The year is only just beginning, but there's definitely a lot going on in the real estate market!
Where are interest rates heading?
What's expected to happen with inventory levels?
And what about those eviction moratoriums for renters?
All that and more in this week's BlackHoleOfRealEstate podcast!
A look forward into a new year of Real estate.
Where are mortgage interest rates headed?
Will inventory levels finally recover in 2021?
All your burning questions for the new year are covered in this week's episode of Ron's Black Hole Of Real Estate podcast!
Despite a worldwide pandemic, shutdowns, and a hotly contested presidential election, real estate sales in 2020 surpassed 2019.
Meanwhile in the news, Zillow has joined Expedia and others in an antitrust complaint against Google. Are they biting the hand that feeds them?!
Eviction bans were put into place to help people struggling during the pandemic, but are they unconstitutional? What's happening to instant buyer (iBuyer) programs that allow homeowners to sell their homes INSTANTLY (usually at a discount). And buying a home for a family member. Is it a bad idea?
Actual lockdowns and threats of lockdowns continue around the nation and the world.
That's affecting consumer markets of all kinds, including the real estate markets here in Florida.
But it might not be affecting real estate the way you think.
Ron explains in this week's Black Hole Of Real Estate Podcast.
Zillow has been making big changes to its business model in recent months.
They've moved away from being just an advertising hub and into offering instant buyer programs, building a nationwide brokerage and hiring their own agents.
But was it the right move?
Ron discusses Zillow's maneuvers in this week's episode of his Black Hole of Real Estate podcast.
This week Ron talks about how rising COVID-19 cases around the country could scare away Florida's seasonal residents, aka Snowbirds, this winter.
Meanwhile, more foreclosures could be coming into the market in the next year or two as reports show more people are falling behind on their mortgages, and forbearances taken could result in a bill too big for homeowners to catch up,
And it seems we may have a new president. What could that mean for Florida's real estate market?
In this week's episode, Ron talks with Edgewater #pilot Bob Perry.
Hear about his years as a military pilot, a commercial pilot and a private pilot.
And Bob offers tips to pilots who want to bring their planes into a hangar at home.
New construction nightmares buyers are dealing with.
Commission compression is a real thing, and it's happening.
The agent SQUEEZE is coming at the end of the year.
All that and more in in episode 31 of our Black Hole Of Real Estate podcast.
Ron chats with Andy Clark with Commonwealth Aviation this week about the development of the All Aboard storage and hangar facilities at the Daytona Beach airport.
Andy also offers some tips for pilots considering where to park their plane.
Are For Sale By Owner (FSBO) tools giving homeowners a false sense of expertise and security?
Waiting for a flood of foreclosures to hit the market? Ron offers some insight on mortgage forbearance policies that will expire soon.
And a real estate outlook for the remaining weeks of 2020.
All that and more in this week's episode on the Black Hole Of Real Estate podcast.
The window of opportunity remains open for home buyers. But time to act might be limited.
Fake offers for properties circulating in the market.
Zillow is making its presence known.
And a word on the CRAZY that's moving the market.
All that and more in this week's episode.
A short window of opportunity has emerged for central Florida's beleaguered home buyers.
Why some folks are buying their future retirement properties TODAY.
Unique properties designed especially for private pilots.
Hear all that and more in Episode 27 of the Black Hole Of Real Estate podcast.
Google search trends show a lot of people are thinking about selling their homes right now. What does that mean for the real estate market?
How some Sale By Owner (FSBO) property sellers are creating litigation risks.
Some wise words about owner financing.
All that and more in Ron's Black Hole Of Real Estate Podcast Episode 26.
Home sales around Daytona Beach remained strong during August.
There are some tough challenges ahead if you're considering home renovations right now.
And you might need to manage your expectations a bit as your home transaction moves toward its closing date.
All that and more in Episode 25 of Ron's Black Hole Of Real Estate podcast.
It seems like the real estate market is pumping the brakes. Is this permanent?
People love new construction, because it's all new and never lived in. But you could be SHOCKED by what's NOT included in your new home purchase!
All that and more in this week's Black Hole Of Real Estate podcast.
Is time running out to sell your home at the market peak?
Could we see real estate prices dropping soon?
Will there be effects of the 2020 presidential election in the real estate market?
All that and more in Episode 23 of the Black Hole Of Real Estate Podcast.
Hurricanes, pandemics and disasters, OH MY!
Some thought these things could crush the 2020 real estate market, but that isn't how things are playing out. And Ron has a few things to say about it!
Ideas for protecting your home when a hurricane threatens. Tips for new construction buyers on choosing the best lot in a new development, asking the right questions, and how to avoid breaking the budget. And a discussion on whether the pandemic has been a driving force behind the soaring home sales this summer.
When instant online home value estimates miss the mark. How the Zillow business model works to gather and sell your information. And real estate agents have begun using the Zillow system in unexpected ways.
All that and more in Episode #20 of the Black Hole Of Real Estate Podcast.
Join us as Ron discusses the unusually active condo market around Daytona Beach during July. He also delves into how to have the upper hand in multiple offer situations. And hear a heartwarming story about how local identity theft victims found some extra kindness and a path to home ownership.
Listen in as Ron discusses the latest economic news and how it's impacting real estate. He'll explore how self employed borrowers are navigating the real estate market right now. There's a little advice for the day your business is ready for it's own real estate. And a discussion about parents buying homes for their children.
What's new in Daytona's real estate market? The market is acting unstoppable with the already low inventory falling further and median prices on the rise. Ron will talk about the conditions and share few tips for home buyers navigating right now in a COVID-impacted market.
Home and condo sales are surging around Daytona Beach, despite ongoing uncertainties around the Coronavirus Pandemic. Is now a good time to invest in a vacation home or rental property?
condo sales jump dramatically in June, would be sellers nervous about going on the market despite the strong market, and what happens next month
humorous missteps this past week in the real estate world. some insurance tips that will save your condo. AND ...we Buy The Beach House!
Home sales fall dramatically in May. Media sales price was only down slightly. Inventory is down sharply, and interest rates remain at historic lows. At the end we discuss when we will see the bottom of the market .
This weeks discussions : Foreclosures will not be hitting the market in large numbers anytime soon. PPP Loan Rule Changes will affect small businesses, which will affect the real estate market. Self employed borrowers are going to experience some changes in getting mortgages approved. The Best Beach Town in the USA are ranked.
Are condo values in bubble territory ? we discuss the number of sales last month and what changes are happening with values. Foreclosures are on everyone's mind these days. We dig deep on where to find them, and when to expect most of them to hit the market.
We are experiencing an Unpredictable Real Estate Market - Will Prices Hold Firm ? Today we discuss what direction the real estate market is heading. What are the leading indicators that are most important? We discuss the effect of inventory level, interest rates, and mortgage approval tightening. Is this market starting to look like 2008 ? At the end we discuss the benefits of a fundamentally sound agent to represent you in this market.
The Pandemic caused home sales to drop 27%...but the median sales price held firm. We discuss why that happened. Sales projections for the summer, followed by a glimmer of hope for home buyers and sellers
Buyers are back in force as Florida eases restrictions . The number of single family home sales went down, but there was an unexpected twist. When will more sellers be comfortable letting people in their homes. At the end, we break out the Crystal Ball and share summer real estate market predictions
When will the market return to normal ? Why are home sales surging , while condo sales are down ? Are virtual showings a fad? And when will prices drop ?
Today's Episode discusses if going back in time is possible. What does today's market look like? Interest Rates, Investment, and opportunities are examined. Commercial Real Estate is at a tipping point. At the end we go deeper on the mortgage forbearance issue that may become a foreclosure spike in the next 6-12 months
Today we discuss the re-opening of Florida. Low Inventory in the housing market, all time low interest rates, and concerns in the commercial real estate markets
Today, we discuss what's next for those that are in the process of moving. Rapid change is affecting the way that homes are being bought and sold. Next we discuss the market sales reports for March 2020, and how they compare to last month, and last year. At then end we discuss How home values are changing and how things will look in the weeks / months ahead
This week's episode discusses the current sales market. Pending sales for April are closing at a higher rate than anticipated. Far less fallout than predicted. May and June pending sales are a bit off, but its only mid month. Lenders are making it tougher to get a loan right now, raising credit score requirements, and down payments. Interest rates remain low. The number of homes available for sale is low, and sellers are reluctant to list right now. this will lead to an up and down market. At the end, PPP loans and stimulus checks are discussed, as well as the risk of forbearance options.
Today we discuss current sales stats in the Daytona Beach area, and the people who are moving during a pandemic. We also shed some light on how business owners will need to change their business going forward. At the end, we discuss some help available for business owners through the SBA, such as PPP and EIDL loans.
Today we discuss whether or not anything is really changing in Real Estate. Will the new SBA Loans arrive in time to save 1000's of industry workers jobs. At the end there is a special shout out to Chris Krimitsos and the people that made Podfest Expo 2020 in Orlando FL such an amazing experience