Mar 20, 2016|
Automatically Generated Transcript (may not be 100% accurate)
Welcome to open house upstate when it's time to sit home builder by your dream home we have the information you need with your host Arthur wrote a number of homes Berkshire Hathaway home services seem to enjoy your realtors and county bank mortgage check out open house upstate not come. Welcome to open house of state budget can be released today talking a little real estate. We got to Wayne for Berkshire Hathaway home services in the house that you don't know I don't Larry how are you fantastic and of course we got Nicole from Arthur run berg calls for Sacramento. I'm much carried on today crest doing great got another good show for you today and take you we had done several love. Email questions and comments last week that we're gonna cover. A little bit in the show us some of whom were up pertaining to the show that we had. We has done. Where we had done Matthew on the show talking and I get home readied itself so gas and follow up conversations for that. And then of course I got a couple of questions about refinancing. And so I wanted to talk about that just out of the gate over accounting make mortgaged. If you are in the market to consider refinance. Right now would be a perfect time to do it. Simply because of the and property values in the upstate have continued to go up. And says it gives you a little bit of the best of both worlds announce a really good time. To let get rid of your mortgage insurers should get mortgage insurance is so. You should visit us at the open house upstate dot com. And there's a link to our web site right there we get a couple of inquiries last week from folks there were paying and north of 5%. And so certainly a great opportunity for those folks to refi and lower their payments. Dwyane let's talk a little bit about values on the market. Continues to be high. And we've got low inventory which puts upward price pressure what are we seeing. Out there when it comes to pricing. Oh we did the seller stress is someone pushing the market a little bit. I'm waiting to see how things are coming in from the appraisers but we. I am now advising my agents to not only just look at souls 'cause remember as you look at the markets sold are the past chair but we're also looking is pending which is president. And then I'll also tell my agents to look at what's active because its future. Any you're just gonna have to do this just try to important you know make the path to what the market is doing right now it's on an upward trend. Yeah and of course when it comes to pin things you really need some expertise when looking at pending is because. That information can't be shared really about what that contract prices until it closes right. No it can't the interesting thing on both opinions inactives as is as you look at that you really don't know what the final so prices until it actually becomes public records. But what you're actually looking as it okay. Here was the starting price forty was listed for it made to buyers in arrested enough to actually come into the market and put an offer on that house. And so once again you need expert agent when your on the buy side. To help you understand how to interpret that data so like you said. All that the this olds do this to you happens in the past. It doesn't really tell you what's going forward. It's a you do need to be looking at that market. Especially with a low inventory what we have right now to make sure that your making an offer. Two is going to be reasonable right and I will say that you know. Does it alone truly and all these other real estate search engines have been great tools at the buyers have been able to use to kind of take a look at what's going out there. However they do not offer a fair market price to what's out there's so. You really need to bring in an agent to really know what is the local market going on for your home. Well because does just just like you said about the the pass those sites only poll public manner. Based on the pass and they don't know whether it was a sell between the family members they don't know if it was a short so they don't know what that was a of a distress sale wears an agent who's in that market would know that kind of stuff that's correct. Yeah and so it's important to really you know have an expert on your side and be represented in the transaction. Now Nicole how about you guys about pricing. Are you having any upward price pressure because a labor and things of that nature or have you guy has been pretty consistent. As the year's gone home now we've had a lot of upward pressure because of labor you know ultimately it's a great time. From a business perspective we're very busy. I'm as our other builders but as the market heats up then more people are building you know it's. Supply and demand germ there's. Ned. Cannot think of the word. And I had I don't know how far price pressure because they have more opportunities for more jobs and of course you have just. When they're bidding to judge. They can afford to bid a little higher because if they don't get somebody else might by the perhaps slowly and so you know more demands that is what a surprise to head up steadily pushing our prices up I think sometimes people forget that there's two sides. To that expands when you're building a house you have what the product. You know is gonna cost which can be driven by the you know by the global market sometimes you and then of course you have what the labor's gonna cost which is really a localize them. And in that is city by city you'll find differently or cost between. Green bowl Charlotte and Asheville Melissa we're gonna head into our first break of the day we appreciate you listen to this if you got a question or comment. Dennis questions at an open house upstate dot com we'll be right back. You're listening to open house upstaged you have questions about pre qualifying to purchase your dream home and ask the upstate most knowledgeable mortgage experts at county bank mortgage email account you bank. That's questions and open house upstate dot com. This is Danny Joyner Berkshire Hathaway CNN Joyner realtors you may have noticed attorney cabernet green signs around town they're replaced the old white and blue that you reasons it. I'm here to tell you see enjoyed a realtors hasn't gone anywhere. We're still the same locally run family business that you trust us since 1964. And we remain committed to the quality and integrity that made it sprinkles leading real estate company. And now breathe and stronger and whether you're buying selling or just training we here for you and we always have been. Are you in the market for a first home. A step up and downsize. Or do you have questions about refinancing. Now's the time to call. The homeowner experts at county bank mortgage will help you through the maze of options to find the best solution for you. If you would like to discuss your situation with a one of our experts give us a call at 8664427553. County bank member FDIC. Equal housing lender in MLS number 462088. When it's time to build your dream home. Arthur rug burn is the only name you need to know from in house architectural and interior design through superior customer service and exceptional craftsmanship visit HRH upstate SC does come and tour their show home actually so little run drive speed but South Carolina in the Acadia community prepare to be amazed visit HRH upstate SC dot com or call 5580066. Arthur number of homes you dream. We build. You're listening to open house upstate new have questions about buying your dream home. Vastly upstate is number one real estate company Berkshire Hathaway homes through this is CNN Joyner realtors email your questions good questions and open house ups. Even god can all month. Welcome back to open house upstate glass can be with a today talking a little real estate. General reviewing up pricing and pricing pressures in the course. Can I have to look at the whole market doing when you start talking about why. And of course you brought up the comment earlier that it is neighborhood by neighborhood street by street you're not gonna find the same thing everywhere that's correct. And to pay don't your price point you can even have changes within the subdivision depending on the outfitting your own home and home yet because you may have had two different builders in that neighborhood or are sometimes multiple builders. Different levels of finished and of course we all know that different levels of Cheney's can impact the price. You could have does our ability of lie he could have be at the end of a cul-de-sac all those things my difference. And and you know that's really why we always recommend that you use of Berkshire Hathaway. You know agent. Over seating Joyner because they have that experience to have that knowledge they can help you. Navigate that part because you know when the market is tight like it is. It is very important. When you're on the south side over the by outside that you still represented that's correct. I mean you know just because it's easy to say though doesn't mean that you don't need representation. His so important not only that but I have been talking with my agents now. It before they even go out in and around. Gets her clients to sign the listen agreement targets are Kleinsasser and the buyers agreement that they spin time during a consultation with their clients. Because they need to understand what what pathways are going to get what what's going to be. The pain of objective because right now things are moving so quickly once you're in the heat of the if you don't have a a directional and how you're going to attack the situation. And I mean that in a non confrontational way but sure if you don't have directions on how you going to do it didn't you go only end up loss confuse and all part we will miss out on the deal. Yes and and it it goes both ways because you you know when you say move in fast I think you know we're doing a little pre show planning here you are telling me that that. The general days on market which if I understand the definition of that that's the data contracts written. That's correct until the day that it actually closes. Is that right it is the day that the house is listed. Wants it first comes on the market I would actually causes symptoms and actually closes out and you know right now that that has I think year over year it's down 17% to like 77 days that's correct and yet to a customer Madison was 77 days is not to quit but. When you're on the mortgage side it's quick and when your only real estate sides it's quick because it's like you say is from the day they put the house on the market. Until the day closes. Well that's a lot of moving parts during that time you really need somebody were for any need help you navigated. Right in nets average for all price points of light what's really high designs you take under the price point of 200 many are just flying once they come on the market. Unseen my agents in my office once they get home under 200 on all the market it there have anything anywhere between four to six showing its. Per day. I mean right off the bat Brian may band day yet and we sing the same thing we will pre qualify. Hey you know a first time home buyer or that move up buyer. And that's exactly what happens they will put their house on the market before they've really had that plan of attack what they're gonna dig right. And all of a sudden bam showing man shone down shine and then they got a contract. And their arrival what do knock on DC you know once again that's something the agent can help you navigate okay what is the plan. If we do say oh what are we gonna do how are we gonna take care of it. And I would imagine too in your situation Nicole you know it's gonna take a loan averaged depend on the size of the house obviously somewhere between six and ten months to build new construction and say you need a plan of attack if you sell your property where you gonna live in the meantime. Absolutely and we have a don't work with a lot of people that. Are putting their house on the market now as they're planning to bill is sure. Because the market is you know there's a renewed confidence and how quickly they're going to be able to get rid of their property germ that really changes how they set up that. The cycle you know there is that. Appeared a time when people would not even look at building a house until they sold their house sure and now we're losing two point or people more comfortable. Staying in their house for a period of time during the built expecting to sell their house near the end. Yes and I think I think you could hit on the key word there it's confidence the confidence in the overall. Real estate market is is strong. But as you pointed out many towns on the shows to wing it doesn't mean people are doing crazy things now especially from the buyers they're making intelligent buys. Still looking for the right property not willing to go do you know speculative on what they're gonna pay. Answer to it's while it's a very strong market is not crazy market yet here's here's another interesting note caviar. What we used to see woo with the order contracts were being used I saw cavalier attitude would buyers where they would put a home under contract. And because they had a right to terminate for any reason for whatever. There was no commitment on the buyers parts that they did in that something would free them number scare them and then they would leave. But what we're now seeing now that most agents in this series in the state contracts not sure were seen buyers. Take it more seriously only action after do lean in I'm not seen so much fall through. As what I used to well and end years talking to that specific part of the contract. The there it will not give them the universal right just to bale right I mean obviously you can write it that way if you want but that's is that not what you're saying. Yeah well it's really enter unseen more more agents is sexy see you have an opportunity. To choose Jeanne either choose going to reap requests or repairs route right or you could she's going to due diligence route. If you go to due diligence throughout the and in order for the bar to get out and they can get out for any reason during that time period sure but they have to pay a termination fee debt was agreed upon between the buyer and the seller I see so what we're seeing is is that we're seeing more buyers is simply going net brow. But they're going the repair route which is locking them into the contract more solid cheer and then that gives the seller. A little bit more control that what happens. Does the seller is the seller agreeing at that point that if they need to be repaired Rivera repair emerges as sellers don't have the right because I'm not doing them. What's seller is saying is is that the seller agrees to have to make three pairs on the nine systems as stated in the contracts however. If the seller does not make the repairs the buyers not obligated to stay in the contract. In the buyer can get out in receive their earnest money back and forth and I would imagine sitting. Which avenue U she used to give. And of course it would be the buyer's choice. Based on their pages recommendation. That would have something to do with the strength of your contract and presentation to the south. As correct. As corrective if you were under 200000 dollars we're seen in in in the looks like the properties heart skipped a lot of Schilling's. We're seen agents come in with a very clean contract with the repair request to understand what you're sand in the past because. The contract treated this area completely differently yes you may see people right. If if they were 90% sure. They may writing contract on a house knowing that they can get out right AB your C didn't seek them or anything didn't seek the right and today because of the change of the contract you need to be a little bit more shoe were. If you're going down the repair rose. Because if the seller agrees to major payers. In uranium. That's correct and this is what I I goes back to what I said earlier is very important. That the buyer or in the cellar. Does it consultation with their agents so they have a firm grasp. On the direction on how they want to negotiate. For either selling their home or purchasing their home cheer once again planning out your time. On both sides the listing side and the buy side. I really will prepare them and that's why are once again we always recommend that she's a Berkshire Hathaway. Home services CD Joyner agent is because they they had that experience and now I understand from looking at some of the numbers I don't know if folks know this or not but. I think 28% of the sold that are out there in the market. Were handled by Berkshire Hathaway that's correct year to date so far twenty almost 28%. Of all loans sold in the green build greater Greenville area was sold with the Berkshire Hathaway's absolutely networks amazing yet is truly amazing of course part of themselves. Where Nicole and talent over Arthur Rotenberg homes they are Berkshire Hathaway agents working exclusively exclusively for Burris and his team. Over it to Arthur Rotenberg homes and of course had ya opens T need to see. Good number of contracts come and the health of of homes sales have you seen that back home yes we have leave then they're very stable and increasing. From a volley team perspective. Month over month says solid Altria has I'd be curious. It is has the as the inventories continue to drop. Is it steel in that upper end price point that you're doing most your business and do you think that's driven by. Where you build on the lots that you have to offer or do you think that's just the market the sherbet and right. Now I think it. We have to like we do a lot of second home market. Okay and then we have an idea from the clips for institutional outlets there I guess so we do we have two very distinct. Customer never has lingering fell right out large second home market. So our second home market tends to have a higher price point sure comes down what we typically building Greeneville but you know in Greeneville. We've been. High fives. You know up until one point 21 point three insure staring now so pretty widespread. That is selling in the Greenville market. And and do you think that that is driven by the lots that are readily available or do you think it's just that customer. That is attracted to what you had golfer because I know you guys will build houses. You know they're 18100 square feet I think but it seems like Al seem to be and that. 25 or 3000 square foot or higher seems to be what you're doing our average is really closer to four okay I'm 4000 square via. And M why do you think that he's not talking to those customers do you think it's. Legacy of the neighborhoods that you man and the lot sir do you think it's just that's that he seems to be interest in building right now. There's Cephalon a lot of people first front that we talked to with a smaller homes right unfortunately you have. You people looking for a single story or a smaller home okay so what I ranch style house yes okay. But there's not a lot of the availability of lots for those of one story house's short. And serve as I don't think a lot of people know that it that it had this conversation Lamas unless we return not real estate. That it costs more to go out than it does go up that's correct yeah and says you know a single story. You know is gonna cost more same square footage you know 3000 square feet in a single story is gonna cost more than 4000 square feet sometimes and a two story. Because it's always cheaper to go up and always been in most cases it's his resume our senators. And everything that happens is is you go smaller but you want the same quality of finishes shore it drives. The price first or go to price per square so about anger so you know 51 ability thousand square foot house and I don't wanna be at 225 dollars a square foot. You really have to change what your putting into that house yes and so that I think is. From the people that we've talked it was just a realization that they don't necessarily know all those moving parts 'cause they haven't built before sure I'm and so. It's it's an opportunity to just educate yourself. And you know earlier the plane was talking about pre planning and how it's important on the listing side on the buying side. If somebody in urge your process and they said look you know act I'm pretty sure I know what I won't I'm not thinking about it and I'm pretty sure I'm ready to move forward. As a general rule if somebody's building that 4000 square foot house. And you guessed it the very structured a program to get them from I'm ready to bill to here's what we're gonna build. What how long does that process generally take. Is it is it can you do it in a couple of weeks or is it really a thirty day process or is it a ninety day process. I mean if somebody says Nicole you know this is the plan but we want to make a couple of changes. We're ready to roll. And you guys do such a good job of trying to plan all that out and say here's the number before we break ground. What what kind of customer expects forced timing if they're very. Engaged in the era there's varying gauged in the process realistically. Three weeks we can get you from zero to adult an agreement. But you have to be very engaged in the process sure do that and yet to be available to make that. House elections and be available and so much the selections because we just elections beyond a building agreement picture around but you have to be available to make those quick turnaround changes so the architects can hear plan's passage I'm kind of you know put together and that. Said that three week is like everything goes perfect everything goes smoothly around all work and share. Collectively can realistically about a month to six weeks is a more. Nor can turn around yeah okay. But you know if you think about built on a 4000 square foot custom home that's still pretty quick move to get rolling especially since it is completely customized. Now you know we talk about prices earlier to playing them and not you know upward price pressure especially. And that first time home our market or market under 200000. You know I was I was talking one mile long officers who's doing a presentation for real first and he he said to the realtors we you know. I don't know if you all think about this but you know in today's rate environment you can buy 200000. Principal and interest. For under a thousand dollars a month and now you think about how crazy daddy as most people Lorena. You know if you have a three bedroom. You know or if you haven't operate in two bedroom two bath pitcher raining somewhere. You're probably paying over a thousand dollars now of course you got taxes and insurance and there's more homeownership. Then just that principal and interest payment and you certainly need to be consulted and and counseled on them. Did you if you think about that that is insanely. Crazy. It is and the opposite because all that pressure is also crazy. It's been upward movement own rental prices in this area so I talk of property managers and they're all seniors has been up for movement on that. Yeah and what I found is that. You know because the thing is so high. That. You know folks to end have to move quickly to make the decision. And of course that is. You know moved. Prices up and so I think you were looking at the numbers. And the numbers say why so far for the median price I think on sold. Median prices up ten or 12%. Yes. And you know that. Is what's calls and and all that heat in the market the short days on market short inventory. Is all calls and that. Today increased. Of course that's at 10% increase year over year. Melissa we're gonna head into our bottom of the outbreak if you got a question or comment shoot it over to questions at an open house upstate dot com ask questions. An open house upstate dot com when we get back we're gonna continue our conversation about the market we'll see in a few minutes. You're listening to open house upstate. You have questions about building your dream home ask our host Bruce passed guerrilla from author Rotenberg homes email Bruce at open house upstate dot com. Arthur Rotenberg homes your custom luxury home builder. Are you in the market for a first home a step up and downsize or do you have questions about refinancing. Now's the time to call. The homeowner experts at county bank mortgage will help you through the maze of options to find the best solution for you. If you would like to discuss your situation would one of our experts. Give us a call. At 8664427553. County bank member FDIC. Equal housing lender in MLS number 462088. When it is time to build your dream home either Rothenberg is the only name you need to know from in house architectural and interior design to superior customers there is an exceptional craftsmanship. Visit any art H upstate SC dot com into their show home until late salute to run drive Piedmont South Carolina in the Acadia community. Prepare to be amazed this is they are each upstate SC dot com or call 558006. Saves are threatened bird homes you dream. We build. When you're ready to buy or sell your home wouldn't you were work with the leader Berkshire Hathaway seated join a real herself more houses than any other company in the upstate. Since 1964. Of our commitment to quality and integrity has set us apart and courtesy upstage trust what nine offices in nearly 300 real estate professionals. We'll help you sell your current home and find your dream. Check out our book of dreams magazines and TV enjoy their dot com search thousands of listings trustee of State's leader to make your real estate dreams come true. Berkshire Hathaway's you can join the real. You're listening to open house upstate. You have questions about building your dream home ask our host Bruce passed guerrilla from author Rotenberg homes email Bruce at open house upstate dot com. Arthur rug burn homes your custom luxury home builder. Welcome back to open house upstate diet can be with us today talking a little bit about this crazy real estate market that we're operating and today. You know somewhat of a seller's market but the wind has pointed out to. Many many times that the buyers are still. Taking heat and really paying attention to what to do when they're not doing crazy things out there. Which I think is great I've often said about this market the difference between this market. And them the Ronald market we had in those three or four of five. Is that you know that was all driven by speculation in the availability credit. This is more driven by the healthy economy as well as relocation to the area. But Dowayne I had he not come ideas you're inside in some perspective for the listeners out there. Especially first time homebuyers you know you're not under 200000 our market is very high. They seen sometimes to be somewhat concerned about this big decision they're making. What kind of tips and comments could you give somebody who's a first come home buyer about Iranian cities. A you know a quick turn around and where you gotta be ready to pull the trigger that can be kind of scary for first come home are so. What kind of things do you recommend that they think about before the. I do that was kind of like going scheming gear ready to go on the ski lift telecast when you get mind you better be ready to give gazette cheers going keep going whether or not you mister chair yeah. That's a good analogy I like that. What I would much you get to the top they belong right now that's what I thought. Now you could fall down what you get off. Really that's ever happened to me. Yeah but what I would recommend buyers is is that in humble go back to restate that we've we've said that a lot of in this program it is so important for you to do a consultation with your agent. In the get a good idea how you're going to approach. On the negotiations because owners 200000 is fast and furious. The other thing because also the way this new contract written there are a lot of information that day you're agent is going to have to note to incorporate into their contracts so. Is very important that you also spend time with the console days. Consultation. Choosing your lender. Like Chris chair and and and then they would have the proper alone know what to do Dick shared information with your agent and as you're Asian starts the negotiating process. With your new home which trust me don't party have pretty quick this isn't something sit back and wait share. You dale be able to better negotiate for you mean get the terms that you will need. Well you know I think you know one of the things that we talk about a lot when we do that consultation. Is structure. You know S hand it's which way are we gonna get a new you know do you need a 100% loan if you do. They need need to be shopping in the USDA area or you need to be a veteran right are you gonna put 3% down are you gonna put 10% down is that money gonna come from a gift and I think derive I think gift. You know that could have an impact on the delivery of the contract take you know if your offer is a conventional loan. And somebody else is making an offer Arlen FHA loan or VA loan. You know these listing agent if they have any experience and I'll know that those may be a little tougher from an upper. Standpoint that's correct there are certain requirements set the appraisers on FHA and VA will require here's a case in point the contract says that only conventional loan. That it has to be structurally sound. It doesn't say that the pain can be peeling or chipping back right now has had to do structure jerk but with an FHA loan. That has to be addressed that pain has to be scraped and repainted over yup and so you know when you're making that offer I guess on the contract today even on the new contract. It does tow the buyer what type of financing your gonna be looking for yes yes yes great here or do you here's another point. Sit the new contract doesn't state anything about a window having a crack. Crack the glass OK however the FHA appraiser that's one of the main things in Normandy in your as the same thing no window can be cracked that dry they consider that a safety issue as correct and says you know those are things that are quality agent is gonna have a good understanding. Of how that's gonna impact the offer and you know if you are able to get the conventional loan. Our own you you you it makes strengthen your offer obviously cash she's keying if you make an cash offer that changes everything. And then of course it rolls into the contingencies. That are out there too but it. You know let's let's circle back a little bit about what consultation you've talked about it many times today I think the most important thing. The first time homebuyers can do is have a real sense of clarity. As to what they're looking for. Not that they're picking out the exact house has to have these 28 features because he may not be able to do that but you have a real sense of clarity as to. What are the quarter the things that has to have and what are the things that you won't. And you know could you maybe in a situation where. Past to be in this school district noted for you to until we just you know those that to deal breaker brand so you gotta have a lot of clarity. Allow those items go when he and so that you can't make that quick decision. And he and I and I highly qualified agent is gonna make sure that you have that. The days of let's get the car and go look houses is not the way it works anymore now and I would imagine that your finding to doing. Then the buyers Ers are are more educated because of all the information on line. They've probably already excluded a hundred houses that they don't wanna look at and it's kind of narrowed that list I don't before they even come to your agent sometimes you are correct orbit here's the amazing thing because even two is down so low no homes there's not a whole lot of homes on the Internet I don't know coming to the agents. That's funny so Delphi does something not appear via I've got to knock on the door yeah and the call saying call me comment. Something yeah. Yeah I mean again and you know I think that is you know very very important for the first time home are to think about. It's a course in that in that under 200 you know into the market it is very tight. You need to be prepared if he found the right house. United that you're gonna make an offer. Didn't need to understand and have had that consultation and ask all those questions. About what am I tired you know and I'm not Italian how're we gonna make this comment gonna do the financing and it's like a lot of work pretty if you do that pre planning upfront. They can really lead to a lot of success. In the end did your offer taken Gifford's seat. Made excellent point when she was on the show a couple of weeks ago. About listen she she encourages if she knows she's going into a multiple offer situation she occurs here her agents. To have the fire right at a letter to the seller saying while the house is important you know and you got to remember is a competition and you won't win. Yes that is something I have told my agents to have their clients to. Write a letter write a story we've actually seen young couples with young children where the children Andrew artists. Little thing every great ground of about how much they can you are looking forward to their new house chair. And I mean those are important things and of course you know if you're working with the Nicole on the team over there and Arthur Rothenberg. You know you're going to be able I think the challenge they are today and I am assuming it's still a challenge and Coke is fine and that right lie. Yeah as I mean because there's there's still some way of a lot inventory issue out there are so it does make it kind of difficult. Two you have found what you're looking for some time and. Really having an Asian that's helping you find it a lot is important because. Experienced Asians were people that work in new home sales are gonna have a lot more information about land. And about costs that are associated with the land that your purchasing your so when you're looking for a lots to have you know an Asian assist you with that processed. I'm born that you work with the builder that you're looking to build went so that you can have an understanding what the costs associated art is really important because because oftentimes is not just a lot it's. What is the water runs and alive is there sewer run to the allies ago. Kirk if you have to have a isn't enough for us playing her seeing your lot of you know there's there's a lot of lots that are great Lott stay at some point in the lot there's a flood plain there. And yes ensure that you understand. What you need to do to address that because there's sure a big difference between whether he'd do your lenders gonna require that you do have flood insurance or your lenders not gonna require you have flood insurance yeah I think you bring up a good point there when looking at lots that is of particular challenge. You know there's a there's a neighborhood that have backs to Acadia over they're river reserve and we had a client. I think it was when he yells clients that was gonna build in there and they were building on a river lives. But they were very elevated in the united we are brain surgeon to look at it and move. That it's not enough fled the house McNamee a flood plain but when you go to get a lead server only a lot. When the company that provides that floods are back in famous Fries or that they don't know where the property where the house can again. And so they just say yes this will be in a flood zone. And so you need a lender that has the expertise to work through that. And you know urged Canada leading got everybody going whoa yes city is but let's talk about what we can do to work around it. Of course in this particular case we should had to go out but the but the site the dub foundation out. You know where the stakes are gonna do let's get that surveyed. And then we can submit it back and of course then we can determine whether it's in a flood plain or not. And that's the kind of expertise you know that we can offer over Tony banks mortgage will listen we're an editorial last break of the day. We get back we're gonna continue our conversation about our PS seller's market that oriented and will be right back after. You're listening to open house on Tuesday. Do you have questions about selling your home of fashion via the State's number one real estate company Berkshire Hathaway home services seem to enjoy inner realtors email your questions after questions at the moment house upstate. Dot com when it is time to build your dream home either Gothenburg is the only name you need to know from India house architectural and interior design to superior customers there is an exceptional craftsmanship. Visit any art agent upstate SC dot com into their shell home until late salute their run drive Piedmont South Carolina in the Acadia community. Prepare to be amazed visit they are each upstate SC dot com or call 558006. Saves are threatened bird homes do you dream. We build. Are you in the market for a first home a step up and downsize or do you have questions about refinancing. Now's the time to call. The homeowner experts at county bank mortgage will help you through the maze of options to find the best solution for you if you would like to discuss your situation with one of our experts. Give us a call. At 8664427553. County bank member FDIC. Equal housing lender in MLS number 4620880. When you're ready to buy or sell your home wouldn't you were work with the leader it's Berkshire Hathaway seated join a real herself more houses than any other company in the upstate. Since 1964. Our commitment to quality and integrity has set us apart and earned us the upstage trust what nine offices in nearly 300 real estate professionals. We'll help these sell your current home and find your dream. Check out our book of dreams magazines emptied and Joyner dot com search thousands of listeners trustee of State's leader to make your real estate dreams come true. Berkshire Hathaway's you can join the real. You're listening to open house upstate. You have questions about building your dream home ask our host Bruce passed gorilla from author Rotenberg homes email Bruce at open house upstate dot com Arthur Rotenberg homes your custom luxury home builder. Welcome back to open house upstate pledged to do with the snake you've got a question or comment about anything you've heard only show. You can always visit us at the open house upstate dot com that's open house upstate dot com. And now there's a link to the county bank mortgage side they're. We also have a link to Berkshire Hathaway seating in Joyner realtors and of course. Owing to Arthur Rosenberg homes unknown Arthur Rotenberg site you guys have tons of plans that are out there and cold that people can check out. Yes we do and we also do custom planned so if you look through our plans can't find anything we have some their have to weigh that aren't available online and then we also have the opportunity that we can do. A custom plan with architectural services through our surrender homes absolutely and of course one of the biggest things that tell you guys just recently updated your site going. And of course you can search for homes all homes that are inside the MO less. Only your side you don't have to go from site to site decide Estrada on that is yes correct and so there will also have mobile app that they can actually do the search home or mobile. Well the mobile phones that they like to also and as I understand it you can also who put in prairie you can go into your site. He can put him parameters that you are looking for in it'll give you a search showing you those. But can't you also set yourself up for alert so that if a new listing comes on the meats that you get pain in today's market is very important and yes. Yeah it did pay you better be new and yeah that's right I mean obviously you're working with a how equality agent over Berkshire Hathaway don't servicing Jergen no Chris they're gonna legend yes they do. But but I think sometimes people think well I'm only gonna see Berkshire Hathaway listings domicile that's not how it worked out. You're gonna get all the listings that are put on the MLS. And I of course when you do that. On you can say yourself but to be notified so if something hits that you know that to court you're gonna get ready now it says here you go do. You know in which you know very quickly. And I think the beauty about doing as opposed to a national coming like a zillow Trulia again it's the local market they know the local feed. They can serve issue better locally cheer I would agree that that a 100%. And and of course one of the things if it is a Berkshire Hathaway listing I know from talking to Dave Joyner. You know you guys take a tremendous amount of pride. And making sure that your listings are completely filled out that they provide a whole lot of information with quality photos. And the you guessed it a lot of try to make teacher Farai there's nothing more frustrating I think. Then looking ala at a listing that some somebody else did and they didn't do a good job put an and then you can even Dojo what can happen today. It's gonna get overlooked right in we've prior. Ourselves as being a listing company so we do so much services for the seller sparse advertising. Well. Can print and advertising informed all not Internet advertising. Owns just listed postcards we do all this is service for our so our clients sure. And you know that's why those things up pointing out Mimi times when you've when you do list with Berkshire Hathaway. You're gonna get a marketing program and plan and not just gonna get in iron into the MLS and I'm not saying other agents don't do it I'm just saying that. You guys do not a full flake away. And and you can show it when your own that listening to point me to say here's what you gonna give it. And it it it's it's a whole marketing plan help you sell your home yeah I hit an and I don't care if it's a lot I don't care if it's a small for 50000 orbits a larger room for over a million. Then they get the same service in the same amount a marketing across abort automatic. So it is you know which you're giving that as a seller they know the type of service that they're going to get your. One of the things that I have seen in this market one of the questions that we got this week three that he now. Was OK you know that inventories down I'm having trouble finding what I'm looking for. I'm thinking about the wind for so bar owner Ralph from the standpoint of buying. I'm I'm you know I'm just gonna go out drive around there are certainly some people out there they're trying to do for sale by owner because they think they can save some money doing math. And you know what I always say is is what appears to be the cheapest is not always the least expensive. Instead of you know you may want to reconsider that but. They're the question is surrounded OK if I'm gonna buy a four cell by owner. One and US still need an agent on my side. Or should I just go it alone. And and I thought that a big good way to finish out the show because I think that. Whether you're buying one that's listed or whether you're buying one that's a force of our owner my belief is. And of from the lending standpoint it's always easier on the lender. If there's an agent involved so if you could spend a few minutes speaking of that and then how you would address somebody that things look the most save this money. You know by just not having an agent on the backside. Let's look at it this way I'll. Home almost a place where you only living but actually is probably your biggest largest investment that you will make any any one given time. Even if you move up it's still going to be your biggest investment at that time. Some might think that I would tell you is why would she want to do it alone. Even I myself if I was home so my own home I would probably are on the agents in my office and did because he just hit too much. Emotion wrapped even though you're an expert yeah yeah emotion we're all. And you need that outside force to go hole I guess slowdown most starters I don't self diagnosis so that's. The hotel and then I kind of look at it with him you know own rules state you know I would like to have an extra set of eyes to make sure everything's been done properly. And that my emotions. Don't get wrapped up in it. That's what happens withdrew with residential real state is on the borrow the solar side both of them. At some point throughout the transaction their emotions is gonna get the best of them. Having a good agent there can help you hold you back deviant exercise to make sure everything's been done properly. Now with this contract this new contract. Can be a bit cumbersome especially if you're not used to seeing when what we use in a Berkshire Hathaway agent as we've already ceded the amount of souls were already doing. They see this new contract all the time sure they understand it. They can walk Q drew waging through the troubled areas. On how to negotiate which would best serve use in your family. You know I think another good point is you know you can you can do a contract on the back of an act yet have done by. Property used in that contract that that contract is designed to protect both parties that's and I can tell he's dead that having done loans were you have buyers and sellers that are. Representing themselves. That is the biggest. Problem that we have is that they they tend not to do a contract. That is you know deals without these issues that can occur try it seems to be eased some currencies it is simple contract and if they do attempt to use. The big contract they don't understand what they're agreeing to. And and I can just tell you from lenders perspective it's a mess that's right I mean is absolute mess and so let's let's talk about this people think okay. I'm not gonna use an agent on the buy side. Excuse me I'm not gonna use an agent on the sell side because I'm gonna save money. I'm because that's what they think no and then not buyers think well gosh if I if I take an agent. To this for sale by owner. You know they're they're gonna get miffed but you know you got to remember you're getting ready disband this big business large sum of money and you need an expert. And so the question you get is Walt. Who's gonna pay for this agent and and how is that gonna work and of course there's there's many different answers to that question right. And so why don't you talk a little bit about you know. How that works out or what you see. I've seen often times the you know the buyer won't pay them. And I think it's money well spent Ganassi sometimes the seller will agree come back and pay them what did you see happen. What we typically see in our offices set for the most far most seller so will pay per buyer's agent so we and our buyer's agents why have. The cellar Sonny one time showing agreement. Which doesn't know buyer's agent and the seller already come to terms on what they're gonna get paid. I sing and so that's already worked out and in the negotiations start on my house at that point now when you talk about that one time showing your agreement who's executing that the seller know that would be the buyer's agent will take their form to the seller. Get buyer's agent in the solar will sign the form. And what they've agreed upon that the buyers agents gonna get. Paid Osce says that it's worked out up front and so often times. On you don't have a situation where it's not included in the deal which is good. And then of course you know even if the buyer I've seen deals for the buyer ends up paying the fee. If it. I can just tell you having dealt with over and over some some force Obama owner transactions. Where there was no rivers is not a representation on the other side it puts us in a really bad spy. Because what happens is you know who knows more about the transaction that point with a lender list right and so we get questions. That we can't answer not because we don't know the answer. But because we can't practice real estate because we're not licensed to practice a mistake as Republicans very frustrating for both parties. When they say whoa what am I don't know about this or what am I gonna do about that are. Do I need a survey do I need to do this do I need to do that and you know it puts us in a really really bad position where you have to give back the limits I look. I know the nature but I can't tell you the answer because I can't practice real estate without a license and so you know if it can be some of the best money Spina. Don't let the this the shortfall and inventory. Oh lead to a bad financial decisions this went on saying you know he get the representation that you need since you can have a smooth transaction because. I've just seen an agent makes such a difference. In the transaction and I know you know you guys Nicole yell represented briefs jacks and you don't have any problem with somebody bringing neon capsule are home buyer's agent to help them navigate that because like the one you just said. Just yeah our experts pitcher representing stories and you know and in order to run her columns and so why not bringing your own representation to the table so did you get an expert working on your side. Absolutely and we you know we deal with real letters and transactions all the time I'm summer very involved summer less involved. You know you have to make sure that you set an expectation pales in a new home part if you building sure. So the expectation for what you winds from your real litter. How involved they want them to be Wii on and you know as purse is representation will always keep them informed about what's going on what process and power moving along. And that there has to be clear expectations. On. You know this from the the from my customer which is. You know my client is serious stuff try customers the person buying the house that's right and so. You know but there's a difference in duty there Jack's there and they need to understand that it's not. It's not that. You know I figured I can negotiating good faith and things of that nature that's not what were signing and we're saying that. You're pretty you're representing Bruce in the transaction. Men I've just seen the more. The more professional you have involved. Sometimes dismay under the transaction goes because tennis that I haven't one person working on it you got two people working on it and that coordination especially in today's compliance market. Okay on the lending side it's imperative that you have as many experts this involved. You know I mean it just makes more sense to have more people involved. We got about two minutes left in the show I was gonna hit that question to you. Wayne you know we've had all this regulatory change. Have you guys. They've picked what are you sit seen enough there is it. And a lot of trouble was a delay in closing what what are you saying well I. It's fun it's your ass stung we just had reason I had won my agents is combing out and and they were a bit concerned because of their lender which is one of the Big Three. Don banks jerk. If failed to get their paperwork done properly in because my understand way it is Big Three banks worked on getting the closing document out to their client. It runs by. The US Postal Service have to get so there's three days gone US Postal Service three days for the client to review it. And India Election Day or so now they get him back up NASDAQ closing at another seven days that. The net a little deal that that date major banks did it's that I do for no reason. His cause is delayed two other closing its church are all facts to back main main bank. Yeah I think that's what people tend to forget is. Especially at the big bank level is that if there other properties generally contingent is very usual today. 201 deal transaction unless it's Nicole your disclosure. Close and on the bridge you know the financing on the property but there's not a lot of moving parts and it's again and we'll move back this is what is very important that you stay local. Yeah absolutely loved JD my business partner says it best. There are the Internet is a great place to get information but when it's time to do business. Please do it locally right you know find somebody local somebody you can go sit down in their office and have a conversation with them. And of course every county bank mortgage we can do that for you guys another great show. And we appreciate our our listeners out there if you got a question. About. Any comment or question about something you heard only shares ended questions and open house upstate dot com. Yeah I'll have a great weekend and will be back next week. Thank you for listening to open house upstate remember when it's time to sell builder by your dream home we have the information you need brought to you by author wrote a number of homes Berkshire Hathaway home services Sedin joined her realtors and county bank mortgage be sure to check out open house upstate dot com. An email you questions to questions and open house upstate dot com county bank member FDIC equal housing lender in MLS number 462088. When it is time to build your dream home either Rothenberg is the only name you need to know from India house architectural and interior design to superior customers there is an exceptional craftsmanship visit any art agent upstate SE dot com into their shell home until it's a little run drive Piedmont South Carolina in the Acadia community. They've scared the remains to visit they are each upstate SC dot com or call 5580066. Are threatened bird homes you dream. We build. Are you in the market for a first home a step up and downsize or do you have questions about refinancing now's the time to call the homeowner experts and county bank mortgage will help you through the maze of options to find the best solution for you if you would like to discuss your situation with one of our experts give us a call. At 8664427553. County bank member FDIC. Equal housing lender in MLS number 4620. Eat me when you're ready to fire sell your home wouldn't you were work with the leader Berkshire Hathaway C did join a real herself more houses than any other company in the upstate. Since 1964. Of our commitment to quality and integrity has set us apart and earned us the upstage trust what nine offices in nearly 300 real estate professionals. We'll help you sell your current home and find your dream. Check out our book of dreams magazines and TV enjoy Murdoch can't search thousands of listings trustee upstate leaders to make your real estate dreams come true. Berkshire Hathaway seed Angela Lee.