Keeping It Real Estate

Let’s answer some questions from buyers and sellers in the area! Brent is thinking of using an adjustable-rate mortgage to buy his home, but he knows they became a big issue in 2008 and the rate may go up in the future. How does Colleen advise those interested in ARMs? Colleen recommends meeting with a lender and wants to remind you that we’re not in the same position as we were in 2008. Dan in Salem just sold his home with a different realtor and is having some seller's regret: his house took 3-weeks to sell and sold below value. What did he do wrong? This could happen for various reasons including the agent's workload or the presentation of the home. Join us today as Collen explores these questions and more!   Key Points:   0:37 – What is your advice on adjustable-rate mortgages? 3:28 – Our house sold below value what did we do wrong? 6:14 – What home upgrades could increase the value of our home? 10:22 – Should I try to buy again with the rental market just as competitive?   Learn more: https://www.bensonbrokergroup.com/blog

We are answering some of your questions on today’s show about buying and selling your home. In this market is a 20% down payment enough? Definitely! While it may be harder to win certain bids 20% is usually more than enough. Mary wrote in that her loan approval was for $700,000 and with all the houses selling above asking value she is wondering if she should look at houses more in the $600,000 range to leave some wiggle room? It might be smart to look a little below your maximum budget, but it’s going to depend on your lender and a few other factors. Join us today as we explore these questions and more on rent-back situations and selling privately.     Key Points:   0:30 – Should we be leaving wiggle room on the houses we are looking at? 2:46 – Is a 20% down payment enough in this market? 4:03 – Can I rent back my home to a buyer and when do I negotiate this? 7:28 – Would we miss out on selling privately?   Learn more: https://www.bensonbrokergroup.com/blog

Today we’re opening up the mailbag again to find out what you’re most interested in when it comes to buying and selling a home and we have some great questions to dive into.   We’ll cover the foreclosure market and whether we’ll see that increase around Oregon. Then we’ll talk about the pros and cons of hiring experts to do the work around your home. Next we’ll cover a question about trying to navigate the sales process during a divorce. And finally, we’ll wrap it all up with the benefits of undertaking a kitchen remodel.   Key Points:   0:31 – Mailbag question on foreclosure opportunities 4:35 – Mailbag comment on hiring experts 9:24 – Mailbag question on coordinating sale during divorce 11:28 – Mailbag question on kitchen remodels   Learn more: https://www.bensonbrokergroup.com/blog

Let’s open up the mailbag and answer some of your questions about buying and selling your home. Stella says her neighbors are also planning on selling their home soon. Should she list before, after, or at the same time as them? With interest rates rising and a changing market, we recommend getting listed as soon as possible. Dean asks how detailed he can get while touring a home. Can he check things like the crawl space and electricity? If you are the only person viewing, we want our clients to look to their heart's content, but within reason. Join us today as we explore these questions and two more on due diligence and rent back setups.     See our listings: https://bit.ly/3z49gcL   What we discuss on this episode:  0:33 – “Do we need to list before or after our neighbors?” 2:38 – “Are you finding any issues with a rent back set up?” 3:43 – “What’s the current expectation with due diligence?” 6:00 – “How detailed can I get when viewing a home?”   Learn more: https://www.bensonbrokergroup.com/blog

With a lot of investors buying up more and more properties in the past few years, there have been a lot of flipped houses coming onto the market. When you are in the search for your next home, how can you be sure what you’re looking at isn’t a cheap flip? If you’re looking at a home without building permits, but it appears major changes have been made to the property, be wary. This can bite you when you go to sell as well. With mismatched plumbing or wiring you want to be careful you won’t run into future problems with these structural issues. Join us today as we explore some common things to look out for when looking at a flipped home.   See our listings: https://bit.ly/3z49gcL   What we discuss on this episode:  0:53 – No building permits, but major changes 1:37 – Fresh paint in certain areas 2:51 – Mismatched plumbing or mismatched wiring 4:32 – Is it helpful to have a contractor? 6:00 – Cabinets and drawers not opening-up 6:32 – Flooring and door inconsistency   Learn more: https://www.bensonbrokergroup.com/blog

Kathy saw someone on the news recently list their home extremely below market price and it generated a lot of buzz. What does Colleen think of this strategy? This is a great question; most sellers want to price high and go from there. This strategy can generate a lot of bids on your home and end up getting you more money. Bud is wondering if he has to make his home inspection public to buyers? Not necessarily, but if problems come up you have to legally disclose them. On today’s episode, Colleen answers these mailbag questions and two more on where to look for condos and the best strategy for listing pictures.   See our listings: https://bit.ly/3z49gcL   What we discuss on this episode:  0:31 – “Should I list my home really low to generate buzz?” 3:50 – “Do I have to make the inspection of my home public?” 5:27 – “Where should I look for a condo or townhome?” 6:14 – “Can we list now with pictures from the summertime?”   Learn more: https://www.bensonbrokergroup.com/blog

True or false? It’s impossible to buy right now without overpaying. You might feel like you are overpaying for homes on the market right now, but keep in mind your equity is also going up once you own that home. So, Colleen doesn't really see it as overpaying. True or false? You’re most likely going to end up in a bidding war if you buy right now… True! Join us today as we play a round of true or false when it comes to various housing market statements. Colleen will share her expertise on down payments, curb appeal, mortgage rates, and more.   See our listings: https://bit.ly/3z49gcL   What we discuss on this episode:  0:45 – “It’s impossible to buy right now without overpaying” 1:34 – “You’re most likely going to be in a bidding war” 2:34 – “Down payments must be between 5 and 20%” 4:05 – “Curb appeal can make or break a sell” 5:40 – “It’s not a big deal if mortgage rate increases by 1%” 7:20 – “You won’t be able to compete with cash buyers” 8:47 – “Zillow home buying estimates are usually correct” 10:12 – What is a CMA?   Learn more: https://www.bensonbrokergroup.com/blog

What headlines are trending around the real estate market? With a lack of supply, hopeful homebuyers are finding fewer and fewer options. Which means fewer contract signings. In our own area, we are down 20% on new listings taken. We’ve also seen skyrocketing prices and the average seller profit from 2021 was almost $100,000! Salem made the top list for seller profits in the country. Despite construction costs, new homes are selling fast. On today’s episode, we’ll explore these headlines and more with Colleen.   See our listings: https://bit.ly/3z49gcL   What we discuss on this episode:  0:43 – Fewer contracts are being signed 1:41 – Seller profits averaged almost $100,000 3:42 – Sells for new homes are hot 6:10 – Are millennials desperate for a house?   Learn more: https://www.bensonbrokergroup.com/blog