Black Hole Of Real Estate Podcast

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