Apr 3, 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. Each check out open house upstate not come. Welcome to open house upstate Blige can be witnessed today talk a little real stable get away from Berkshire halfway home services. CD in Joyner realtors in the house housing going to want to know great there you. Fantastic and of course we've gotten a call from Arthur run Merck Holmes was had chemical not much. I tell you continues to be some really good numbers out there to whine about the market. And I know you ought to like to update ever ready about showings and things of that nature so I thought we would start they hear what is the activity like get over it Berkshire Hathaway. Still very well what we saw last week India was. No during these journal Wednesday it was still porn in about 800 to 850 showing us. Just hard lessons absolutely and then of course. That is up. I would imagine from mob. You know the three or four years ago to end in you know the big question I mean getting ally you get your opinion on this is last year we had a record year. This year were you know through February were up 10% over last year do you think we're gonna have another record year do you expect to slowed. I do think whoever will record year at least some volume sold I don't know whether or not whatever record year in units. You did say you think the volume because of the upward price pressure. Yet by you won't make the question is will we sell one more unit. The end sixteen and we did in fifty yes right because in the torso down it's still down probably about 12%. No I take it back them up about eight to 10% right. And of course for those listeners inventory is the number of homes that are on the market. We continue to have a shortage dire right and so it it does put some upward price pressure I think gut. And Craig Smith from Rome but equilibrium is around in a bid to win in an equalizer market from buyers and sellers here about six months of inventory. Right right now current month inventory is sun push and write it for maybe a little bit under four months there which makes it certainly a seller's market right and that an odd now here's a funny thing about it the prices are being held in check. In my office which is at the Berkshire Hathaway Pelham road. We this past week and actually seen a couple deals are coming and we're the homes did not praise for the sell price chair. So I know we have the market is deathly any seller's market sellers don't get excited the appraisers at the end and they are still controlling their price point. Yeah I. Had the exact same thing happened right before I headed over today I had one that was under contract for. 354. War 354000. And the appraisal came in at about 345. So I know there will be some discussion ahead in this teacher placed the bar was put 50% Daniel. Soon they may continue loan and pay that price anyway which the courses is there obligations that are are there opportunity if they won't. Formally understand point we just based on loan to value only appraised value not contract priced Brit not. The really interesting thing that we're seeing the two in particular that fell through. When the appraisals that we're not Tom a lot of money weren't talking anywhere between three to 5000 dollars chair. I mean so what I don't understand. And I would love to have an appraiser someday come morning explain this to us. If you are Zach close to the cells price and if the markets pushing income market is pushing up in the tour is down. Why she's she's justified to three to 5000 dollar difference. Yeah I mean I think that's a great question but then you know what I go back at all I can talk about is the way we would handle it. Accounting bank mortgage. Is we would go back to the agents and say. Tell us why you think and of course they can then provide data. And then we would submit that data on appeal and I would tell you in today's market with you know if you're that close three or 4000 dollars. Most of those appeals were winning. I've met or win in 90% of those appeals when it's that close. This one that I'm talking about where your 10151000. Dollar doll that's not. You know that's that's a much bigger deal and while we will appeal that that it'll settle somewhere in the digital. I don't have a calculator in front of me I guess I do have Smartphone. But. Two that fell through we're looking in about a hundred total of fifty. Yeah see what you're talking 3% right in your talking 101000 known 350. Yeah. This is what about a 3% that drive system the same percentage well you know price point it's stirred. I mean I I can't disagree with that I think the question becomes do you have data to back it up and if you do. Then working with a mortgage company knows how to walk you know to putting in the appeal with the data. Could be you know a game changer because in those particular situations. Often times you're able to make the deal work or somebody settles in the middle you know if you get if you get within a couple of thousand. And then you get within 500 or thousand you know on upon appeals and oftentimes. Everybody works and I'll. Listen we're gonna head into our first break of the day. We're gonna check with the Cole what's going on over our direct Merck homes when we get back. Course we can continue our conversation about appraisals. But don't we also have for those of you did get greatest show your house we've got a package of information that you should get ready to give out we'll be right back after this. You're listening to open house on the street. Do you have questions about selling your home and ask the other states number one real estate company Berkshire Hathaway home services C Dan Joyner realtors email your questions to questions at the moment house upstate. Dot com 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 agent upstate SC dot com into their shell home at two LA it's a little run drive Piedmont South Carolina in the Acadia community. Prepare to be amazed this is they are each other state SE dot com or call 5580066. Are threatened bird homes you do leave. 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 a one of our experts. Give us a call at 8664427553. County bank member FDIC. Equal housing lender in MLS number 462088. When you're ready to buy or sell your home wouldn't you were work with the leader it's Berkshire Hathaway C did join a real yourself 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 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 open house at stake pledge to do with the city got a question. About listing your home buying a new home of building a home or forcing any mortgage question can she does email liberty questions that open house. Upstate dot com that's questions and open house upstate dot com we'd love to hear from you. We enjoy the other building shows around some of the questions that we get it's always good to get fresh material and of course we'd love to hear comments. We're talking a little bit about appraisals on how to deal with that process and you know I think because back when your big recommendations. The Wayne it's about you know you pick a local lender. They're gonna know more about the market they're gonna be able to work closer with the folks that are. Involved in the deal. And of course you know there are some very strict guidelines about who can talk to the appraiser and what they can talk about. But data trumps all you know appraisers are not perfect. And sometimes don't measure how strong I've had the same appraiser. Do the same appraisal five years apart on the house and have different measurement come up with a different you know it says. You know they're not perfect so the first the first place how we start with this let's look at the data on what that is right what data for home. And then you know we don't have any problem making an appeal won't EV appraisal was on as we've got data to back it up. You can't use that hey the markets expanding so you've got to expand with a slight shown me that that. And we've been very successful in this market and that situation. Now Nicole. You know going was telling us that their volume continues to be good. On our volume continues to be good specifically around interest rates got Linear refi business school and no people trying to get rid of their mortgage insurance. Which is certainly something they should do but to how about. Your walk throughs in your showings in people interested in building ever Arthur Ryan Burke. What are you seeing and we continued to have a very strong traffic so. And this past Saturday for example we had fourteen. Different. Groups of people come through right which first single day is phenomenal share. We just you know. The traffic has been amazing and we have a lot of quality prospects you know sometimes depending upon where you are when you do new home sales. And have a lot of traffic that the traffic might not necessarily be. In line with your price points. Her lawyer just fill in the day looking at what's what's going on out they're right this case. It's it's people's. The quality of the traffic that you're seeing are people that could could be perspective bill. Actually yeah that's important amino makes a big difference in courts. You know one of the things that we had talked about a Libby tell about having equality prospect. Is. We gotta question this week about getting preapproved and an ongoing you've talked about that. In the past. You know should they get preapproved. When should they get preapproved. What kind of advice do you give your agents when it comes to working with a prospective buyer when it comes to those those types of things. Because things are moving so fast right now and I'll give you case in point a talk with an agent this past week they just got a new listings. Our debt first day they had fourteen appointment schedule on the first day for that new listening. So I tell my agents that is they've got to Byron thereby are serious about buying a home in this market. They need already talk with a lender get their pre approval and already have the documentation and everything that the lender needs. Already in the lenders hand and needs already be done before we got conservative nanos because. When things start moving they are moving fast and furious and we're already are seeing the types of loans are now becoming points of contention. In points of. Off raining camera offers and we talk about that as instant in this particular case where you've got. That kind of activity only new listing what kind of price point we're talking about. Member items first gosh I was a move up her it was move up it was probably pushing closer to 200 surrogate Carly as someone in their second third home. Shear zone in 200000 our house. To get that kind of activity that quickly. You know it is a contest for the umpires trying to win and then. When you make your comment about types of financing I am getting that question a lot from agents today right OK you've preapproved my buyer you preapproved commit this. Loan to value that can you give me specifically tell me what come along Prague for the go whither they go on whether. FHA product or they go wrong with a USDA or they go where they. A you know of a VA tech problem you know product which would be government product. And I guess the blisters I wonder why that's important so why don't you tell from an offer standpoint why it's important why the buyer would even care. Well you mean the seller would care to sell so our media another case some point in my office we had and offer came in their DH and Mimi aware of what was going on. It was a conventional loan which an alt and all. It's an all purposes it should be deceit its lame duck season ago. But the conventional loan. It was going to take I believe he was on go up 45 maybe sixty days before it would close. Because the lender which was not. And local lender it was a national lender couldn't close it any faster net so what in that have been the seller wanted to close faster move on this property very quick. And they came back encountered say no school and have proposal in this state in you need to find a lender that can do it. So this is stuff that I mean it's it's very important date didn't change the term danger after the conventional 20% down chair but they said you know you're gonna have to change you can go final interdicting close on this day. Well I think that's very interesting because you know Todd he is a factor. You know one of the reasons. You know that people will accept the cash offer. Is is because it can turn quick and there are new lending contingencies and so saying saying a conventional loan in today's market even without us being busy. You should be able to close that in thirty days or less as long as it's squeaky clean like you said NASA's Mars that. You know if you've got a borrower who has to sell another property first or. You know would have some type of contingency your holdup on the area and they're waiting to file their tax returns or business for so you know that can take longer and and but if you quit you didn't you bring up another. Points were also seen this says he got sellers who route their view seller throughout her looking at possibly get into this market. If if you want to get in this marquee eased if you want your offered to be taken seriously. You need to have your home already listed. It is getting to the point to where even do you ordered the company that you're listing your whole list. Is now even becoming a concern in a factor own account overall personal that. So you're talking about is thought you have to say oh years before you about players. They wanna know hey measures already on the market. Who's got it on the market because trying to take that in to consideration and if you're looking at now you're coming in as a fizz flow. Now you can forget it pretty much did it if I cabinet discount brokerage. You might be fighting an uphill battle if it's a multiple offer situation. In your homes listen with the discount brokerage in the other homes are not listen with the discount brokerage. The U might be fighting an uphill battle to win. Yeah it's amazing when it gets to be this competitive in the market all the things. That. The seller and the seller's agent may consider. Before they decide which offer they want it takes is not all the way I'm always the one. With the best price clinical I am now that Peter you can speak to a little worse seeing more and more whereas you know a year ago. People were selling their homes for they were considering building tour we are starting to see a transition where people are. Wanting to stay in their home. Ten their chairs and so from my perception that seems like that's a little bit more confidence in the market where the market's going I agree I think a couple of shows again they do when he talked about. The amount confidence that people had in the market not certainly would agree with that you have now before. Always say before we're talking a couple of years ago. It was a little I wanna go ahead and get back home so no it's old and I'm willing to move twice. A move to a rental and then I'll move to my new home when it's finished or Tuesday to the resell when when I can find when I won't. And in today's market I'm seeing exactly the same thing there's not particular if you know there's not a lot of concern. About the ability to sell their current home so obviously if they can move wants. Then then they would they would try to move wants because saves a lot of money number one in particular felt like when they put their home on on the market that is gonna turn fairly quickly. And so a lot of home are they telling you what they're thinking are they thinking how am awake on many days now. And then put it on the market or they just are you get any feedback about that. Am not much the days on the market I think their a lot of times what we experiences that people will kind of wait seal the deal goes. I do to kind of figure out where their comfort zone is yeah. You know you can put it on a little bit longer than man depending upon where your ad what the person most in your home this would answer and. And I would say this. And I think doing you know I'd like to get your comments on this tape. I think I would certainly recommend that they start interviewing and looking for that listing agent very early. Just you know you don't want you won't you might wanna start that process. And then decide the list later that you need to start trying to figure at that age it's going to be sad that you have a strategy in place. When it does become okay today's the day we wanna put it on the market. Yeah I think this without a doubt your issue and figure out who DH and is site. If it were me I would wanna figure out OK what companies are represented me as a whole the best surely narrowed down to the agent. I am and you know the other thing as privacy and a cool kind of tangled with what you just said I think there's also a factor that. There has been a tight squeeze and a shortage or availability of Reynolds chair million. And unlike resells there's no appraiser out there keeping rental prices down and try issue be enough. Skyrocketing up so when you do fire renal it might fit your needs. Your pro won't pay a couple hundred dollars more than what she did for five years ago yeah. Will we had that conversation the other day in the office you know just as a general ballpark okay 200000 dollar house today principal and interest. Under a thousand dollars depending on what race car that day somewhere between 900. And a thousand dollars principal and interest that does not include mortgage insurance you have to have it. Doesn't include your taxes than include your insurance but you know not towards that end if you were going to go out and try to grant. That same home in today's market at that price point. The the brand's gonna be somewhere 2018100. To when he got country. And so you're right it's going to be significantly more expensive to rants are not all media to move twice. But she had the expanse of branding and of course when you have the confidence in the market like people are starting to gear I can see how they would want way. But my recommendation if you're in that box is go ahead and find the agent. What can have a plan watch other build process goes I do wanna hit a one other thing. Is there a danger. The between. Or Nicole the end putting that house on the market today. But then win perspective buyers looking at it saying look out we don't want to vacate for my mind. That can be I would expect coming up a process that might be very negative. I think that has got to be like China sell our house well furniture here so in my opinion at all. Yeah he and a hotel and Sony really you need to get to a smaller windows based on higher bills going before you actually put it on the market but I think. I think in today's market. If if you were ability and you would probably wanna put that home. About nine days prior chair so like if Wear red now we have the bill's going to be done Indian in June I turn on the market today. And and I think the last time we talked I've I've got some notes in the last show we talk about the day's market the wind was about 77. And that is from the time you list until the time you closed and say that ninety day window gives you a little bit of extra time. Toward that the end I would also say that. From a lending perspective. You need to make sure that your lender knows that you're taking that strategy to. So that they can get your loan preapproved. Whip that house payment still in the budget assuming you don't sell it. And then without because you know from your standpoint the co you're gonna have a closing day. In Newton you're gonna wanna close whether they sell that house or not. Absolutely you would more pre approval letter that is not contingent upon the sell that house for you all ever break right now. Because I mean it would be important you don't get to the end ago hey we can't close to his ratings are out yeah I would not be having people gas and then. For a living perspective. You know it matters. I had one this week where these buyer and the seller. Own. The other side of the transactions so we're doing a purchase that this gentleman to sell and has a house. And so he was the seller less out of the transaction and him and the buyer gotten to a pretty heated argument over payers. And it was not are you gonna do them it was you say they're done and us that equality stinks. And so you know here your week before all these dominoes are supposed to be tipped and fall right down the line perfectly and it became an issue. And and of course the guy called us two days before closing and said look I don't think decided trans fats can victory that's not going to be a problem. And we said well it's not going to be a problem but we are gonna have to get back underwriting and you know there's a very very well qualified. You know buyer on our side. So it's not like he couldn't qualify. You've got to make sure your lender knows you can't you can't tell them at the table. The best self felt for you because that's gonna change all the numbers right and so it's important that she did she do that out on. I would I would also say that that any of this stuff that we're talking about that earlier you can get into it the quicker you can start planning. The better off you'll be. And you should discuss with your lender that type of financing because it does matter multiple offer situation. You know there is a difference. Between going FHA and going conventional. The down payment may be the same but there's a difference in rain there's a difference in payment and there's a difference in perception from the from the seller side to doing when you set. Yet there is and there are so many things with this new contract with the state that the buyer needs to understand same with the seller they need to understand both sides. The need to be a period Tom consultation. Because once they hit that market is gone briefest imperious and hang on. Yeah absolutely after he had to get this question only contract. How do you determine. Which contract is going to be used as the person making the offer to side does the person receiving the offer decide how does that work. I mean is there it is are like different companies have different policies. There greater Greenville association a real source as a recommended we use the state this South Carolina associations. Contract forms right. So that's typically what we as an association. Would recommend. Okay all right. And then of course you have your own contract on the bills right from filling perspective we have our own contract to for help them with a lot sales we used to statements absolutely listen written into our bottom and they are great. Your list an open house upstate we appreciate you being with us if you got a questions and questions and open house upstate dot com. You're listening to open house upstaged do 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 banks. That's questions and open house upstate not come. This is Danny Joyner Berkshire Hathaway CNN Joyner realtors you may have noticed our new cabernet and cream signs around town they're replaced the old white and blue that you reasons it. I'm here to tell you see enjoyed a real just 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 a screen goes leading real estate company. And now we're even stronger and whether you're buying selling or just training we are 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 Rosenberg is the only name you need to know from in house architectural and interior design through superior customer service and exceptional craftsmanship is it ARH upstate SC does come and tour their show home actually salute to run drive speed but South Carolina in the Canadian community prepare to be amazed visits ARH upstate SE dot com or call 5580066. Arthur number of homes you dream. We bills. You're listening to open house upstate new have questions about buying your dream home. Vastly upstage number one real estate company Berkshire Hathaway home services seem to enjoy her realtors email your questions good questions and open house. Upstate not come all month. All welcome back to open house upstate pledge to be released today were talked a little real estate. Just covered a wide range of topics today we were just talking about getting preapproved. And the power of your offer he was coming usually in this part of the country facing multiple. All for situations that over the last two years it's become more common occurrence. And and when you're trying to negotiate that from the buyer's standpoint. You know there's a couple of things that we recommend the first is that you have a buyer's agent. I cannot even imagine trying to represented yourself. In a multiple offer situation. Wait too convoluted. And then of course when you do go get preapproved you need to make sure. You know number one and we always recommend you work with a local lender. But you do need to talk about the types of financing and the pluses and minuses of both. I think would be remiss not to talk about why somebody would prefer one or the other while the seller would. And of course that you and I have experienced it doing you know what it comes to government loans. Sometimes the appraisals are more restrictive. Man often times they require more payers this is exactly right here and said that's why. A seller. Wouldn't would rather see. A 88 contract. On the conventional loan in most cases. Right not only that. But for the most part you're less likely to you run into appraisal issues that you might run into it in two with a government loan. So when we a seller sees a conventional loan typically did their own sick this is a good buyer Jim we should not have a problem. Yeah we don't work this thing. And you know there may be some misconceptions out there a bowel wall gust laps but 20% down to get a conventional loan in the assertion that. There are conventional loans that are out there today. That you can put down as little as 3% that 3% can be gifted. And they don't have any income limits it's not like you have to have low to moderate income. You know you do have to have solid credit because. The differences. Everybody only government loan pays the same price for mortgage insurance regardless of their credits moon. On a conventional loan. Those dare risk weighted so if you have a score under let's say 680. You're gonna pay significantly more money for mortgage insurance to somebody's got a hundred. And there are those price breaks in that mortgage insurance so not only. You know could conventional won't be the right loan you got to pick the right insurance and you gotta make sure that when you do that you picked the right type. It was going to be a single premium is it going to be monthly is it going to be finance to get a figure that Puerto. But then there are multiple companies that sell it and you need a local lender that has access to all those because they don't all priced the same. Let's. Current Gaudin another avid Jonas would you talk about a mortgage insurance just. So we saw that mortgage insurance back in the day was not that expensive now when you know. When the recession hit and it started to go up and price where is sad that now can it be taken out of the equation. How does someone get rid of mortgage insurance once again if alone I think that's a great question I. Think it's part of the original planning. When you get the loan itself. You know you really need to talk about are you picking the right cannons have let's talk about that first. On a conventional loans. It comes in and really three options option number one and he you can pay monthly. The case so as part of your payment you're gonna pay a portion monthly. Now pricing of that monthly is going to be based underscore your loan to value it's not all one size fits all and the company that you pit. So but its monthly pay a monthly demand he get 78% of the original value and automatically canceled generic page. Which usually somewhere on a thirty year loan between man and and twelve years down the rate which is a long time the second thing that you can do. He's you can pay at all in cash or you can ask for the seller. Through seller concessions to pay a dollar in cash so do you may be buying a 200000 dollar house. And to pay the mortgage insurance say open 10% down to pay the mortgage insurance is. At one time price of 3800 dollars you pay 3800 dollars today never have to pay any monthly. And you're done with a and that may be the best way to go it depends on what your long term goals are with the property. And then the third option as you can have the same 3800 dollars but instead of paying any cash because any incident with the loan. So instead I haven't a 90% LTD you just stack that don't top and now you get in 93 here in 94 unite and pay it out of pocket right now. And a good loan officer will sit down and work through each one of those options. And make a recommendation. Based on what your particular situation. For instance if you're buying down tiny own. We're property values are going up eighteen and 12% a year probably not a great idea to do the one Tom pay. You know why spend all that money up front twenty years from now you may be able or refinance out of it completely you would probably want to hit the month. I'm you would wanna pick the financed you would want to do anything this nonrefundable. I'll. But if you're in a situation where. It's going to be a long term property yet limited funds you can't get to get funding you only got X amount of money. The finance may be the absolute best way to go our monthly so a good loan officer will work through that with you and one not just offer one size fits all. He did his benefit is a mortgage insurance for the lender it is absolutely. To reduce. Our real risk in the deal. And you're basically buying insurance. That protects the lender if you don't perform. Your buying insurance against your own default. And so you know that that may seem a little bit crazy but that's what you have to do for the lender to be willing. To go about 80% the assumption is about got 20% equity your cash in the deal I'm probably not gonna lose any money if things get sciele. When you go above that. You know that guidance is well I'm probably at risk in so the higher the longer value the larger. Percentage of that loan I'm gonna protect. Through buying mortgage insurance or are having you buy it. One other type of mortgage insurers we didn't talk about is very much like the single premium is what's called lender paid. And it works just like that single premium worst one lump sum the difference is not pay the study you pay it. But the way I did you pay is by charging your higher rates and study charging your 4% rate almighty willing to pay it back charging you a four point 37 to operate. And that's always something that should be considered to you because then if you refinance. I spent that long sun you'd instant and so okay so there's a lot to it now. Only got beside the deadly side. Is where it's very expensive on FHA. If you're buying mortgage insurance you're gonna have both counts you gonna have a flat fee at the beginning and then you're gonna have monthly. In today's world. If you do a standard thirty year fixed. You know three and a half percent down you won't pay that Morgan in church for the life for that long it never goes away that's a huge change. It doesn't cancel it's always going to be there certainly she refinanced loan now. So there pricing has gone up significantly. During the downturn and they have not adjusted it back down seem so FHA insures the rates will be better but the mortgage insurance is expensive. When you look at both your USDA both USDA has the same thing they have a monthly fee that you pay. And then they have a onetime teacher pay when you get the loan it certainly can be fairly expensive. VA probably the best deal out there they generally just have one funding for a long Sunday pay at the beginning has not included in your monthly. And the rates on those loans are really good day. You know if the listener takes eaten away from this conversation. What they need to take away is that you really need to talk to your loan officer about options. If they just throw one option out there they're doing you a disservice. Because there are multiple. Ways to do mortgage insurance. And some of armor cheaper than others you know if you tell me you're bound and an area and you're live in the house twenty years. In your property bag user are looking like they're going up eight or 10% a year you know we need to put you in monthly so that we can refi you out of it to your show now. Is otherwise you go pay for eight or nine years because people don't realize. That it's the value. That the house was ball that not the current value if people think while still get a new praise are submitted to the lender Lendl cancel it. Maybe maybe not that's their option. You can. Get that was along when they answer to get out ethical to determine what us. I can tell you some tees back. I did think though the other thing that you hit on like that. You made me think of when you're talking about that is that when you're dealing with the royal blunder and you have options if something changes in yes deal. And that person is you know you ever relationship there that they can say OK doled out products not gonna work anymore let's go over here and do this. That's an excellent point most of the time if you do with a big bucks lender and you dealing with day Paulson. Once that long reaches a certain point like maybe when you commit. In the end zone somebody else that persons don't. So if you wanna change what you're doing and there's nobody there to help you do that. And not just county bank mortgage that ED local lender that's gonna do better than well listen we're gonna head to our our last break of day we appreciate you being with us if you've got a question. About eating of the items we covered today citizen questions that open. House upstate dot com or visit the web site. Open house upstate dot com a link to our sites are there will be right back after this you're listening to open house upstate. You have questions about building your dream home ask our host Bruce castor oil from author Rotenberg homes email Bruce an 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 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 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 superiors customers there is an exceptional craftsmanship visit any art agent upstate SC dot com into their show home at two LA it's a little run drive Piedmont South Carolina in the Acadia community. Prepared the amazed visits 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 wanna work with the leader it's Berkshire Hathaway seated Joyner realtor sells 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 when 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 and he'd enjoy a dot com search thousands of listings trustee of State's leader to make your real estate dreams come true. Berkshire Hathaway C did 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 Rotenberg homes your custom luxury home builder. Welcome back to open houses take nights can be with us today were talking a little real estate and we've been talking about mortgage insurance as it relates to get preapproved. And I didn't get this question was what how do you know if you're dealing with the local lender. And you know my answer to that is is there somebody. Within a ten mile radius did you go sit down with a look at. Now you might not have to do that but the question is if you wanted to do it could. I would tell you that probably thirty to 40% of the customers we do loans for whenever me because they prefer to do it through email. And but if they wanted to come into the office they can walk in the office or branch. It sit down and look somebody out I'm sure Nicole from your perspective you can imagine somebody building a house without ever meet new. Now it. Yeah it's a process and there's a lot of information you have to get term answer relational. Engagement yeah and he. And I think they're lending is the same way and people we deal what don't they wanna do it all different types away from a lending perspective up and they will always ask me questions and I won't always say. I'll be happy to give you the names of some lenders because the reality is and I know Chris you got and honey I'm. But the reality is I think the EU are more familiar your products and you are more familiar. With what products may not be out there for everybody detonated their situation sure there aren't well advertise what the. Right hand and no one size fits all and from your standpoint doing. What are your agents could help somebody let's say they were overseas but I don't somebody by house that they never met mr. and usually yes that is. Correct you know Berkshire Hathaway does have an ability we are worldwide now surely and so we are advertising your listings. Worldwide. And Asian market in the European market is all hot. Look and in mine in America but. At the end of the day I ate my personal follows no way I was raised. By both my dad and my granddad here you do business face to face here. And in you support your local companies because they're the ones you're going to be your neighbors are once known. To help you in your kids make your community better and this is why. I always screw is always recommend people to get their loans locally. In use resources like yourself. Sure well I mean if you look at you know just just seeding joiner the way the company was built that's right how was billed as a built around. You know and I knew mr. Joyner is built around serving the community that's correct it's not a right it's not about bill thrown how many transactions can we did I mean it's about being involved in the same thing for county bank can I make started 1933. Greenwood. By some small you know about some local businessmen that says hey we need a bank. In Greenwood. We don't want an out of town bank we don't won't wouldn't want to be dealing with Greenville banks who won that we don't wanna do with Lorenz banks we won't a local Greenwood bank. That people can come into and sit down and do business faced faced. And you know from all the years that I spent talking to Bruce about. You know American Eagle builder's he's the same way. He wants to be in touch with the folks who wants to be connected to the folks and he wants them to feel like they can connect him anytime and I think that's what makes the difference and and all three of our company's you know I would define a local lender. It is they have a level representation we can go sit down in front of somebody and I know there's people actor listens and who may be to walk into. A Wells Fargo or something like that made a local lender you probably could that. In the unlikely that they would be a mortgage lender and that's all they do in you're gonna deal within three the entire process. That's what I'm telling you. For now and I think they're sometimes even larger banks might have a local representative. To die you can sit and talk to right and that is that the person managing the transaction exactly order is the person managing the transaction in another time zone you're. With 25 people the two. You know I think you make a great point I I have a friend that works for whales and she works in Charlotte and she does she manages a 170. Employees. The team underwriting process. And so that's the type the situation you're talking about. I you take me is it is an example on the operations manager over it county bank mortgage in every morning at 930. I'm standing in the in the circle with the people that are going to be working on your loan and if there's a problem we're talking about it. If it's going great we're talking about it but we stand around as agree with each other and now we're not doing that by email our. You know we're we're sitting together looking at each other going houses still going how's it feel going. So we're working we're working on your individual bill has an individual and I think you know while we have a process just like I have a process. It is. Are you just a number in that process or is special. You know Berkshire Hathaway. I think sales probably the most homes in the Pringle nonetheless yes Kelly yes but it's still an individual relationship when an individual agent. And I'm glad you brought them up we take great pride in and I think people give better customer service when they have one person that they go to. Throughout the whole process so like cannot there are office door has taken a call for example they go out there. To Arthur Edinburgh and they wanna buy a home that they're they're going to be going to Nicole. From beginning to the end she is right to be easy area rivers into the canyon and that gives a level of comfort to our clients where. You knew you might go to another company gain you do exist to this point did you get passed on somebody else. You're like Dick car going to the assembly line BMW sure there's no personal connection. Or person and so well being be sure he knew in the southern person. And I always say that with lenders still young you'll see there someone you're not jerk company but there are some lenders it does okay I would've just generates paper on pass and I don't go. Omar or nothing else rod did this part of nothing else and I would say that we didn't take very much like I'll be going in in just like the cold was. We take a holistic approach I'm home alone the entire time from from the beginning of the year on the and at no point what I say well out past that I own in that somebody else's problem right you know it's always something that I still live and I think that's something that that. You know whether your bigger small having that type of attitude is what makes the difference maker well you know receiving and Joyner is a very large company. You still. Built the company on the one to one relationship and is the most important thing out there do you I'd definitely resume and I think that's important so. You know if you if you're looking for a you know real estate agent or you know landed two wings said this in the past if you look and get the business and would like to. Two entertain that side you can always go to the open house at state dot com website. And hit the link over there and not to win and be happy to unity she too you know what being a real estate agent has lied and he give you some information about that if you wanted to. Joined the Berkshire Hathaway family and of course if you're looking to be open you're always welcome to come out and check out the model. Overnight Katie four Arthur Rothenberg homes and not too long from now there will be another model over there what 99 months something like that December 18 does our drug dare we guess. Trust for Christmas that I drier Chris ash that's right the people. On the model would like to move into the motto or holiday you yet. Gionta got the dates planned out and that's well and of course ever counting bank Mori's will be happy to sit down with the anytime you just give us a shout. You can get to the website there and I hit the link you will be happy to help you. Even if it's just a question you don't have to be doing business will be happy to share what we know. About any thing or you can always she to question over to questions. An open house upstate dot com. One of the change gears here a minute to wind we had talked in a previous show. And also at the beginning of this year about putting together if you're selling your home even though it's a seller's market. Putting together a package of information. That really. Provides a comprehensive look at your house when somebody does come in look at it. It's all wanted to go over that they end just hit it real quick just to somebody's thinking about listener house. We get about five minutes left in the showed just to give you some ideas some things that that you should have there. And the first thing I had a mile lists that I got from you was paperwork. Yes of the paperwork there were talking about his sources closure which is required by the state even in to Europe for sale by owner. The only issue Tony here is where a seller's disclosure is not require will be in state sell a bank foreclosure or in a new construction. I'm Aaron and you need to be provided one and that really talks about the condition of the home the repairs that men don't write home he needs to mean that the seller would have knowledge of that is correct imminent death warmed the state laws very clear that you're aging cannot fill that out for you or ask some questions. If you have any questions and how they should be filled out and you should seek legal advice on that. Because it is G view as a seller you're going to be on the hook for that okay that's it that's great buys I didn't realize that so it's unlike the loan application that I can ask you questions and film out in that particular situation the cellar service needs and our fill out my guests and that I I learn something years down the the other. Go the other part of that is is an addendum it is a one page it didn't admit that if you live in his subdivision has an HO way they you will need to fill out. Mine you know go through everything that is required living in the sub division if there any fees. Oh what a minute these might be available or non that there is a one page had been and it's attached to the seller's disclosure. If you live in a subdivision as HO way. And then another thing that makes your house being now a little bit I think when it comes to disclosure of information. Is your recommendation about tax deals in utility bills Clinton and the sellers package really. Gives that perfection buyer a really good look at what they're going to be looking. A lot of the stuff can be easily access all mind if they wanna go that route. But have him available just makes it that much more easier. One thing that I would say that would be. Imperative. Very important is having a copy of the covenants and reassure actions if you live in a subdivision. That is very important because you don't want anything to come back on you after closing at the viruses we weren't disclosed that we couldn't park RVs house. Yeah you know what actually I was talking to somebody that was looking at a small lake community I think that the lake Robinson. And they would not by. In the community because there were there were no agent there was not an agent right and they were concerned about that very thing red concern about. What other people we do and they wouldn't be able to do anything about it instead they chose to look elsewhere well we've all seen Christmas vacation I. That's exactly right so you know you gotta put that that HL a document in there is very you give you some insight as to which candidates can't Dave. And then of course the utility the price we get somebody you know they're looking at a house that maybe have high energy efficient appliances and think. It was gonna cost three or 400 dollars to. To two to live in this house from a power move perspective will have the power bills 85 dollars a month and you've got that they're for them they cry they can already look at it right. Well the rest they may have missed respect the united make. The may have a misconception about that on one if the other things that I love to see when I'm looking houses is copy of the class. And or the survey if there is wind so that you really get some sense an idea of exactly what you own. I exactly and year it's amaze and sometimes it always comes out that the neighbor's fence is encroach of SSA didn't hide or three foot whichever the case may be. Mediate there's always little things like that own easements you might find out that the neighbors. Have food joint right to your driveway. Chair because there were some might this year yet adventurous. In Israel or something like that. You know there's one other important document this is a federal document needs to be thought on that is sure lead based paint disclosure. And this needs to be filled out by any home that was Bill Carter in 1978. So you need to disclose whether or not you have knowledge of any lead based paint that was used in any. These as just as a side note from winning perspective if that is the case. And the perspective buyer is gonna use FHA. Is only a problem. I mean it's not it's can't do it but you better not have any chip in pain anywhere. And as a seller you need to know if an FHA buyers gonna buy a house that was built prior to 1978. Need to make sure you don't have any chipped in pain anywhere. Mario and and it's let's do that for a little bit crew quickly. So real quickly Dan if he ever seen me home Bill Carter in 1978. Now they are not the disclosure states that there is knowledge or not knowledge that strike is still going to be an issue Castro well and let me say this that there is negative campaign it won't be an issue. Okay well part of the FHA appraisers responsibility is to make sure that there's no safety hazard. And they won't not know do whether that paying his letter not so their assumptions worst case city is Mika and if you have chipping and peeling tiny you're gonna have to deal with. Can we do it all the time I'm just telling the per. The perspective seller just understanding and have to do that if you accept the contract from an FHA buyer. To some good info. I'm one of the other things that I had down we got about thirty seconds left and I'll get really quick. Is we always recommend they go ahead and have a house inspected if you're selling. And in that if you've done repairs you provide that information to you if you if you take the advice that we've given you here and put a nice package of information. I think your house a really stand out when it comes time for a buyer come through it that's correct. Well listen another great show guys I appreciate your being with us today we appreciate all the listeners out there if you got a question that I need then we talked about on the show any more information. Send us an email questions at an open house upstate dot com and we'll see you 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 unique 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 and in the 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 it's a little run drive Piedmont South Carolina in the Acadia community. They've scared the remains to visit any hour each upstate SC dot com or call 5580066. Aren't there red bird home you've dreamed. 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 yourself 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 he'd enjoy Murdoch can't search thousands of listings trustee upstate leaders to make your real estate dreams come true. Berkshire Hathaway seed Angela you'll be.