What Is A Non-QM Home Loan

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Beyond Basketball: Championship Lessons for Success, with Tyler Summitt (Leadership, Sports, Personal Development, Business) 28:47

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Tyler Summitt, son of legendary coach Pat Summitt, as well as the Co-Founder of Pat Summitt Leadership Group , shares the group’s mission, the story of Pat’s humble beginnings, the art of mastering full executive decision making in 90 second or less, the "secret sauce" to Pat’s leadership, what she definitely didn’t understand about, but learned from, a 5-year-old’s soccer game, how to visualize winning in a (very, very) highly detailed way, the key component that gets you to over a 90% success rate, and the answer to the mystery of just who is “Trish”? Mentioned in this episode: This episode is brought to you by Pat Summitt Leadership Group. Pat Summitt Leadership Group…

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What is a non QM home loan? That’s the question that we’re posing right now. That is John Lutz. He’s going to let us know what it is and tell us why it’s different and who it’s used best for and why you, John, are very, very good at helping out people like this. But how it’s different. Right. And there’s a huge thing here. It’s really important that people understand. And that’s why I’m begging the agents to kind of tune in here a little different, because you’re going to help business owners 100%. And this should grow your business because it’s a segment you are likely ignoring. And John swims in this in the exact opposite direction of every other mortgage. Right. I mean, so, you know, Mike, you hit on a topic there that’s really, really important with that is that this is definitely going to help people grow their business. You know, we’re still in unchartered waters with what the way the market is right now. And you know what a non QM loan is is basically just not a it’s a non traditional type of home loan. We obviously we do our traditional home loans, our our conventional, our jumbos, our FHA, our VA’s everything and we do those extremely well. But this other this other segment of of home loan that’s out there, I should say, products that are available really need to kind of understand them, get educated on it because it’s a large group of there’s a large amount of people that are that are missing the boat on this. And, you know, as an agent, as a lender, it’s our duty to inform people of loans that they could possibly qualify for. So again, what a non QM loan is a non traditional type of home loan, pretty much. It’s geared towards a self employed business owner. Yes. It allows alternate forms of income to be used to prove what your what you’re making annually. I like that. That sounds really good. Yeah. So the big difference is a traditional loan or conforming loan is going to use full documentation, right? Your traditional two years tax returns, business returns, everything’s signed, sealed, stamped, you know, and this is an alternate way of showing income. So a person like myself as a business owner, what we’re going to do is we’re going to want to take advantage of every opportunity to write off. Yes, all of our expenses. And if you expense stuff, so you have your income that comes in, but they don’t count your top line income. Right. What you’re going to look at in a traditional mortgage is like, okay, how much did you make? And you’re like, Well, no, really, how much you can make. 1090 tax on it. Correct? Yeah. So now my number comes down, comes down, comes down and not necessarily my number, but all business owners are most likely going to do something similar. Then you get down to this bottom number and you’re like, That’s perfect. My whole goal is to maximize the tax code to make sure that I pay as little in taxes as possible and do it legally and correctly. But I’m going to expense my expenses and then I have a lower income and that’s amazing to pay less in taxes. But then the flip side is it hurts. By something big, like the home. So I have a challenge. Yes, but these business owners now most likely have something different, like they have equity or cash. Yes. And they need to qualify for mortgage. They still need a place to live. Correct. So, you know, these programs, Mike, it’s it’s that’s exactly what it’s geared for. Right. You know, as a self-employed business owner, you should be taking advantage of the tax codes. That’s what puts you in a better position to do open other businesses to keep your business thriving. Right? Yeah. And you shouldn’t be penalized for what the bottom line number was on your tax return. If we’re all able to do it, I think we all would. Yeah. So with, with, with a non QM type program, you know, and it’s not the, the crazy subprime stuff from years past. I mean these are truly qualified type deals. So the so one option, Mike, would be we look at bank statements as incom --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message

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Real Estate News TV

What Is A Non-QM Home Loan

Real Estate News TV

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Real Estate News TV

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Change to Clear Co-operation Reporting. 2:18

för 2 years sedan2:18

2:18

Ladies and gentlemen, the market is moving, things are happening. And that is our topic. It changes to clear cooperation and the reporting policy as it relates to that here. Seana, she’s got a quick update for you. It’ll be a quick update. So, you know, there’s been discussions on, hey, I see this person and they’re marketing their property, they’re showing the the photos of it and they’re telling the city, but they’re not putting that address on there. And we’ve believed that that was acceptable. Well, it’s not. So the requirement to provide a full address, full address of property when reporting this as a violation has been changed. So now you can report this as a violation. This falls in line with the NA enforcement requirements. They’ve been clear on this the whole time, but I think there was some misunderstandings through networks. So now they coincide together and it is very clear that you can submit a, you know, a complaint so you can submit a complaint. And they do have to research it. And, you know, you can get fined for marketing a property even though it doesn’t have the address. That’s the that’s the thing to know here. So be careful. We’ve had discussions on this in the past and, you know, is what it is. So we want to be careful. Nobody wants to find you know, it can be a $5,000 fine. So that’s pretty, pretty steep. So let’s all be careful with that. That’s it. Thank you, Shana. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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The Line: Saudi Arabia Urban Development 5:14

för 2 years sedan5:14

5:14

The line. It’s a brand new development in Saudi Arabia and it’s part of their urban development plan. And we’re going to kind of discuss it because it’s super interesting and a little bit unique. It is definitely a huge real estate development and it’s modernizing the way that they do things, and maybe this is the way the future. I’m really impressed with some of the things that come out of large, big projects, right? When you have a vision and they go ahead and start to execute on it. Yeah, you know, everything’s not always perfect how it works out, but this one in particular is a really grand plan. So let’s go ahead and share the screen and take a look. So this is the line. It looks like it’s a video game. It does. But this is actually real life. I don’t know. Why that girl flying in real life. Yeah, I don’t know about that. But this is what they’re kind of looking for. I have a picture if we scroll down and think maybe just a little bit more. Right there. All right. So that’s what they’re looking at. So what this is, is a huge line that stretches across the country from one side to the other, trying to get rid of cars. So there’s no cars inside. But it’s a huge structure. And according to the information I have, it’s taller than the Empire State Building. Wow. Oc Yeah, all self contained and it’s a huge line and it’s like 100 and let’s get some stats on this one. How long it is? It’s 170 kilometers long. So it’s like 100 miles, 100 and some or 105 miles long and it goes all the way through the desert and then inside it has the same climate all the time. Okay. It will only be 200 meters wide. Yeah. So it’s narrow and long. It’s all self contained. High speed rail. Yeah. Oh, now you’re getting interested. Well how do they. I’m just curious about their water and. Yeah, no, you can go from one end to the other end. 20 minutes. So everything’s all self contained. You’re within this ecosystem that is the same ideal climate year round. So one of the problems they have there is it’s very warm, right? Yeah. So they’re going to have the ideal climate inside all the time. Yeah, really crazy. It is crazy. Does it seem real? No, but it is. They’re actually starting on it and it just has all these things that they’re trying to build in there. So it’s it’s a vision that’s getting carried out by there, by the crown prince of Saudi Arabia. And what they’re trying to do is get this to be the new way it’s gone. It’s like wanting to live on Mars. It seems like it is like living on Mars. So it’s just a different way of doing things. But they’re trying to reinvent and have a huge urban plan. Is this a plan or is this something they’re like, no going on? No, they’re doing. And they do really ambitious plans. That’s yeah. And they have a couple of other ones that will go over millions. We’ll go over it in the near future, you know, some of the other projects that they have going on. But there are large plans and the idea is to change the carbon footprint, to make life a little bit better, to make properties more dense, but then to have more wide open spaces. So basically everyone lives in a high rise, but then everybody walks, so there’s no commuting. So you can get from one end to the other end in 20 minutes on a high speed rail that goes the whole way. So it’s like perfectly straight. And then imagine that it’s only so wide. So people like live on the side. There’s this middle where it is, but it’s like a whole park through the whole thing. And you live, work, shop, everything right inside. Well, they’ve got to control population and if it’s like. It’s 100 miles long, and taller than the Empire State Building. And so it has nature in it and it’s just within this. So it’s designed to be this like utopia of what’s going on now some of the times that there’s unintended consequences that backlash from stuff like this. Yeah. So they come up with it and they’re like, well, it’s going to be way better for the environment --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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50 Year Mortgage Considered in UK 7:34

för 2 years sedan7:34

7:34

50 year mortgage five zero 50 year mortgage considered in the UK. Seana I’ve been a big proponent of finding a way to bring down the cost of home ownership and doing it in a logical way. This is one of the things that I talked about a long time ago as interest rates were going up and as home prices are going up. So what do you think the UK said now? Well, it was proposed and then quickly they did say no, but they thought about it. So let’s talk about why it would potentially be a thing. Yeah, it’s too long. But you know, if you think about now 30 year mortgage, it used to be just unfathomable that you would pay off a 30 year mortgage ever. Right. And now you’re seeing people pay off their 30 year mortgages. Well, that’s just because we’re old. I don’t know if you think about that. All right. So let’s let’s talk our way through it. Okay. The traditional 30 year mortgage has 360 equal payments that you’d pay off over time. Now, what is the average time that a person stays in their home right now? I don’t know. Well, it’s really 3 to 5 years. Yeah. And then how often do they refinance it? Very often. So let’s consider this. Imagine that if you have any homeowners that are going to be buying a brand new home or whatever the their next home is, and they buy it now through the next several years. What we expect is that interest rates are going to be higher than they normally would be. And I would bet I would go ahead and say that they would be able to get a better mortgage rate in 2 to 3 years in the future from when they buy it. So what that means is you’re going to be refinancing it. So they’re going to refinance. They’re like scheduling a refinance because at some point within the 30 years. And I would beg to differ or I would say that if you buy it in the next couple of years, interest rates are on this trajectory going up. And then after they go up, they go down. So then when they go down in interest rates are lower, people refinance. So right now, it seems like anyone who’s buying a house is scheduling a refinance of their home in a couple of years. So if you do that, why are you trying to accomplish to pay it off in 30 years? Because all you’re doing is having an arbitrarily higher payment amount that you need to pay to the bank. Right. So if it was a 50 year mortgage, it wouldn’t substantially matter because what you do in the beginning is you pay pretty much all interest. Right? So why not just lower the interest that you’re paying to them? Because you say, I’m going to pay it off in 50 years instead of 30 years knowing that you’re going to be refinancing it in two years. I mean, it just helps a consumer. It really does. How does that help the lender? How does it help the lender? Well, I’m not really concerned about helping the lender, but what it does is it allows more people to get approved, to have a lower monthly payment and cost of home ownership on a monthly basis. No. Because you qualify that you qualify people based on. But then if you do, say, pay it off early, there’s probably going to be no prepayment penalties. There’s nothing like that anymore. So I just think the 50 year mortgage helps bring down the monthly cost of it. And if you really look at it, homes aren’t going anywhere. Right. I don’t know why here in the US we try to pay it off so quickly. Because people don’t like to have debt. But imagine to have debt. Sure. I totally understand that. Right. But a house is supposed to be here for a long period of time, you know? I mean. That’s the other thing are is the quality of the homes such that, you know, I don’t know, definitely 50 years that your home is still. Yeah, your home is an appreciating asset, meaning it goes up in value over time. So it’s a good asset. There’s no reason that we shouldn’t lengthen the amount of time that you can finance it over. If you consider think about this one in general, you have a depreciating asset in a car, so a car is going to go down. What is the real use --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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Senate Bill 1588: Fencing Guideline for HOA’s 8:00

för 2 years sedan8:00

8:00

Senate Bill 1588. There’s quite a few things contained within this to do with H0A, right? But what we’re going to discuss right now is what this has to do with just the fencing component. We’re going to break it down. So Senate Bill 1588 was passed last year. And it’s it was put forth in a way to regulate highways. It was felt that they had a little bit too much control. And thanks to realtors, they pushed this agenda and it got passed. So Senate Bill 1588 in whole is new laws for Texas homeowners. And he was right. So but right now we’re going to discuss just fencing, right. Because there are several items within it and we’ll hit them over the next couple of days. So, you know, a portion of this is about fencing. We’re going to take fencing out of this and talk about only the fencing. So homeowners anywhere in Texas will be allowed to put up a perimeter fence around their property for added security, front sides and or back of property. The whole thing. So before who was would regulate and say, hey, you can only have your fences. You know, they regulated the size, the height. And the materials. You can’t have it all the way up to distance. Of the home. It can only be, you know, it has to be five feet back. I mean, they had all these specifics regarding fencing, so now they all go away. And the only thing that he was will be able to control is the material of it. So this is for added security. This isn’t for privacy, it’s for security only. So, okay, so let’s talk about that because it appears like now the front of the property, right. So is what’s in question for the most part. So that’s that’s really interesting because it specifically states that he was cannot restrict it. So a new fence or gate around the front of the driveway, front yard is allowed. So can you imagine if around the front yard there’s a fence and say you have a front entry, that you have the gate like we have in the back of our house, we gate off the whole back yard, including our driveway, that if people did that in the front, I think. Well, now it becomes more European because over there they have a lot of these like perimeter walls they do. Around their property. You can’t even really see the homes. You can’t see the home at all really. And they have like a ten foot brick wall around their house. I don’t know that I am all on board for for this. I understand the security part of it, but I don’t know, I guess if they regulate it by material that you can have the iron gate. Right. But I was also thinking about the height. How high can this be? Can it be as tall as your home? So I do think that they’re city and county guidelines, right. If you are in a not in an unincorporated area, but if you are in the city limits, then you have city guidelines. And I think the cities enforce the height. But there were some subdivisions that said you can only do a six foot fence, not. In a not an eight foot. It was like so you can almost see in some. That was a weird thing, right? I don’t think people really liked that into the yard. But this isn’t about privacy. This is only addressing security. So you guys just want to and then as it goes on just a little bit more, it talks about things around the pool. And so do you want. To they’re allowed to install a perimeter fence around their pool, as well as security cameras and motion sensors on the property without prior approval. So you don’t need approval for that. It’s just the perimeter around their their property that you do still have to seek approval from your HOA for the material only though that’s the only that’s the only input they can, they can give or restriction that they can give. So you can’t put security cameras outside of your property, which I don’t know. Maybe I don’t know how you would put how you would be allowed to put a camera outside your property. Well, think about this. What if. Behind our house. We have an alley. Yes. And there’s a little grassy area right there and there’s tree --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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More Housing=” Less” Co2 Emissions 5:51

för 2 years sedan5:51

5:51

Are you interested in reducing CO2 emissions? If so, according to the article. More houses is the solution to this? Yep. So that is Shana Acquisto. And she’s a luxury real estate broker. But the idea here, according to worldwide. Rc So worldwide Rc What do they do, Shana? So worldwide. Rc is basically they provide relocation services. They’re a mobility company that has mobility partners that help people with their relocation. So so they’re, you know, and this is international. This is global. So they have definitely information on I mean, they have great information because they are relocating people all over the world. So, yeah. So I’m going to highlight one part of the article here is the average US state has a housing deficit of 79,000 homes. So we are 79,000 homes short. In each in an average state. So that’s a housing deficit. The shortage has become a national issue and there’s a lot of repercussions. That report finds that building 3.8 million additional homes would help with housing affordability. So if we build all right, so if we break that down, there are 300. I don’t know how many million people live in the country. Yeah, 300 and some million people. So they’re saying we need another 3.8 million homes. So that means for all the people we’re one they need 1% more housing compared to how many people there are. Right. If there’s 3 million, 300 million people and we need 3.8 million homes. Right. We have a 1% problem. But when you extrapolate it because not 1%, not people don’t live alone in a home. But it’s a big problem. Right. And it’ll generate a bunch of local revenue because you’ll have more taxation and more stuff. So they say that’ll generate 7 billion in additional local revenue. So that’s a lot more tax dollars because they say we need more homes. So what do these people live now? I don’t know about that, but let’s look at this. And it’ll also reduce CO two emissions by 7.7 billion. The equivalent of 7.7 billion because they’ll be less miles driven because of all the homes getting built out. Okay. So they’re saying if you build them closer, I guess, like we talked about. Well, they’re just saying if you build more, then people will drive less because we’ll be closer to whatever it is. And because there’s not homes in those places, people have to drive further. So I don’t know that I follow all the logic. But apparently if you have more lacking information. So I’m just reporting. Now, we talked about a few days ago about the schools. Right. A school district bought a building and housed teachers to keep them closer to work. So I don’t know. Yeah. The idea here is that when you build more homes that they’ll be all over the place and then people will be driving less, probably marginally less throughout time because everything should be closer. So right now, if you’re, for example, commuting from Dennis into Dallas, if you built more homes, that maybe there’d be more jobs in Denison, so to speak, and then you would have to live further out because you wouldn’t be able to afford it. And I feel the same thing repeats itself and they might be missing a variable. Right? And they need then they need the jobs there. And then it becomes more expensive to live there. Then you move further out because that same person that lives in Denison now can’t afford Denison anymore. Right. And it still becomes a problem. So it doesn’t matter where. You saw that in Bozeman. Where do you stop. Yeah, there’s a big issue. It is interesting how the information is disseminated and. Right. And how you can rationalize something like housing and CO two emissions. And how they come together and how you can support a claim. More homes means more people, which means more cars, which I don’t know if that’s cool. So build more homes, it’ll help us. So it is an article from Worldwide. Rc There’s a bunch more other items that are hit on in this article. Aside from that. But often I just want to compare the hot button i --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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Quality Tips For Working W/ Remote Clients 6:54

för 2 years sedan6:54

6:54

Quality tips for working with remote clients. Well, so as the world changes, we have clients that we sometimes have met, have never met. And and it’s hard. How do you build that connection, that strong connection that you typically get when you meet in person? You’re having to do it. So let’s go ahead. I ran across an article and it had some good ideas in it and I was like, Let’s look at some of them and see how good these ideas really are and see if we can do that. So I’m going to pull that up and we’re going to take a look here. And they have five ways to build virtual relationships with clients that you’ve never once met. Kind of. Cool. That’s happened many times. Yeah, I’ve never met them. And so things are changing, right? And let’s just zoom through these here and pick these up and see what’s going on here. So them cars scrolling down for us here and to use the client’s given choice of communication method. Yeah, because people are different. So talk about that one specifically because. Well, it’s funny that you think the younger generation likes text, right. But we have young clients right now that in their twenties and they prefer a phone call, they’re like, I really don’t understand this process of buying. There’s a lot of information. Can you just explain it to me over the phone? Can we please talk over the phone, the text? You know, I just don’t like to to read through text and something like this. And I, I like that I’m a big I like to explain things. And I think a lot of things get mixed up in translation via text and email. So you’re talking about the phone. I would like to ask a quick question. Take a quick poll. But you need to ask you need to ask your client what is their preferred method like? What what how do they want to communicate? Very good. So this question has to do with the phone. So when you call a business, just any business, would you prefer to get a phone tree or a live person answering the phone? This is. Why we’re. Is this why we’re. No, you brought it off in this article. Yeah. So would you prefer a phone tree or a live person when you call a regular business? I totally separate question. I’m just stepping aside here and asking, all right. This is a for myself, I guess. It’s a poll. I’m going to put it up. And then we’re going to keep moving on to communicate using their preferred method. Some people like Facebook, some people like to communicate with you through WhatsApp. Some people like to use. Yeah, I don’t think you should communicate about your real estate transaction through Facebook, but hey. Hey, it says to use your preferred method. Okay, so that’s number one. Choose the client’s private messaging. Yeah, they do. But okay, so give your client a chance to get to know you first. And that does make a lot of sense. So what they’re saying is to have a good online presence and to let them know who you are by being out there. Yeah. In realize what type of impression you’re giving off to people. Maybe record a little video. I think if you find yourself having more and more clients that are remote virtual meetings, then maybe put together a little video about yourself and and send that out ahead of time. And the more they hear you, the more they see you, the more they’re going to connect. Yeah. And always keep your agent page up to date at a cost of real estate dot com backslash your first name and on that page you could absolutely send that out but they should get to know you to see pictures of you, videos, past listings, a bio of you, and they can know who you were before. Careful checklists are useful to clients to understand the real estate journey. Some people like checklist being able to like. I love checklists. Mike doesn’t like checklists. So all right. So there’s a different way to do it, right? It depends on the person, but a good checklist. So if you find yourself going through things with clients and there’s certain spots, maybe it’s a good time for you to st --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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Often Overlooked & Costly Repair Item For Home Buyers 2:13

för 2 years sedan2:13

2:13

Well, hey there. Paul Foster, I got a question for you. It’s going to be the most often overlooked and costly repair item on a home inspection that buyers often look at. And the question really is like the buyers like ad, don’t worry about that one. The realtor says, I gotcha. That’s okay. Right. And they kind of overlook it because you’re looking at something else and then it comes back and just like bites them in the butt. All right. Let’s talk about that. What do you feel that one is? It could be one of several different things. I’m going to say that the grading and drainage away from the home is probably the most overlooked issue. Grading and drainage. You know, when you did six inches in every ten feet of drainage away from the home. So we got to have a slope, right? New homes will always have a slope. Older homes, all that slope will go away because there’s all kinds of settlement and all that stuff gets washed down. Right. But we want at least six inches from wood siding from the ground. We want at least four inches from brick just to keep any of the past, the water. We don’t want water to wick up inside the walls. You know, we want we poles all the way around the brick. We want drip screen all the way around there. Also, just to keep the elements out, you know, to help preserve, you know, extend the life of the home without any issues. All right. So drainage and grading. Most important and often overlooked, because what that’s going to take is it’s going to take effort. Right. And you’re going have to get out there and you’re have to do something. You’re going to have to somebody’s going to have to, like, sweat, right? And you’re going to have to. But you’re only going to hire a contractor to come out and do that. But we don’t want a flat surface. We don’t want water pulling next to the home, to the home. We just don’t want those things to cause issues with the foundation . Once we alleviate all that stuff, then the home will perform as intended. Mm hmm. Sorry. That’s a super good point. Thank you for covering it. Let’s hit the ball and move on. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

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Home Inspection For Investors 3:49

för 2 years sedan3:49

3:49

Home inspections for investors, investment buyers specifically. This is Paul Foster of Noble Home. Noble Property Inspections. And I’m Mike Acquisto. We’re interviewing him, discussing home inspections from the investment standpoint. So we were just talking that there is an alarming amount. Well, from my words, I guess an alarming amount of home inspections that are done that are for investors specifically. Right. So in your experience, tell me a little bit more about that. Well, I mean, I probably do 2 to 3, not 2 to 3 a day. I do at least 1 to 2 a day, four or five days a week, it seemed I seemed more of those than I do individual homebuyers. So that’s that’s interesting. Right. So what we have is the inspector and you’re saying, hey, the way our business runs and it’s not necessarily reflective of the whole market, but he has one person with his experiences and their business model does have a lot of investors going through it. Right, for sure. So tell us a little bit about some of the things that they want, some of the things they see, you know, the amount of different investors because you see a lot of different investors as well. Right. It’s not like the same one every time. Well, when I get the software or when I get the template, I don’t really know who the who the client is. I just go off of their template and we go through the house. We we follow their guidelines and what they want inspected in their photos and so forth. So we go in there and we look at that. We’ll look at the, you know, the condition of the home. It’s basically a lot just like a regular home inspection. But they want to see other things as well. They want to know the condition of the paint. A lot of cosmetics as in Trek. We don’t really you know, we don’t really prioritize the cosmetics of things because, you know, the paint and general maintenance can take care of a lot of that, but they want to know the structure of the home. We’ve got to get into addicts, of course. We have to look at the foundations, look at the walls. You know, do they have cracks on the outside? You know, they want to know all these conditions of the home so they know about what they’re going to go in there and spend when they go in there, you know, and put there. Now, there was something that you were talking about in particular when we were just talking a few minutes ago about the amount of pictures that some of the people want for each room. So talk about that experience just a little bit. Some of them want just a couple of pictures. Some of them weren’t, you know, anywhere from 12 to 20 pictures per room. All right. So just think about that for one second, 12 pictures or more per room. So explain that experience. It just takes a little bit more time. But you want to give them a good idea what each room looks like. So if you go from each corner, you know, take a picture of the opposite side of the room, you’ll get a good idea of what that room looks like. But they would have you take a picture like standing in the corner facing down. And you’re taking a picture there. Then you move to the next corner, the next corner, the next corner. And you’re taking that many pictures in each room, correct? Wow. All right. So, you know, now we see how investors are evaluating the properties a little bit more and they’re really looking at this report. Right. So sometimes you go through some of these things, you’re like an investor is buying it, like kind of not to worry about anything. And then you realize that there’s actually a gentleman going out to look at the property like pollen inspecting it, and he’s taking 12 pictures per room. So it’s a very different experience and possibly perception and reality of what’s going on. So that’s kind of the process. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

1
Roofs: Costly Repair Items 3:06

för 2 years sedan3:06

3:06

Hey there, Paul. Let’s talk about costly repair items and specifically possibly the most costly one. We just talked about foundations, and that can be expensive. But there’s others that are potentially more expensive. You know, in my opinion, I think the roofs are probably the most expensive coming in with the foundation shortly after that and then the heating and air conditioning. All right. So let’s talk specifically about roof repairs. So most of the time, you know, a lot of people would probably fall into the camp of I’ve never been on my roof at my home. Right. And so I would say most homeowners don’t spend a lot of time up there. So they don’t know the exact condition. They probably would know it if it starts leaking. Right. That would be no. I mean, you know, water stains on the ceiling. And number one, cause that unless there’s plumbing running across the, you know, the attic. Yeah. And then right now, a common cause of such problems would be like super extreme heat like we’re experiencing right now. Right? So we have, like 109 degrees that it’s been for a while. That’s not, like, great for the shingles, right? That doesn’t help. That’s an that’s an honest answer. I can’t I mean, honestly, I can’t really answer that one. I’ve got a quick pulse cramping up. So but we’re going to we’re going to battle through. I do have a feeling that the heat that that when it hits the roof, it’s not good for the roof because it just bakes the shingles and dries them out and then makes them a little brittle or You know, you don’t want to walk on it when it’s that hot. You’ve got to be careful what kind of roof you walk on, too. You don’t want to walk on just every roof out there. You want to get up there in the attic and inspect the decking to make sure, no, the decking dropped. And so you don’t fall through when you do walk on the roof. But then the thing that goes along with the roof repair, right, is I don’t know if I put aside my real estate career and just thought, personally, I don’t know if I know anyone that’s ever paid for their own roof to be replaced. It’s a really weird thing because it seems like it’s always runs into a hail situation and then it’s replaced and you have a deductible. But I don’t know anyone that’s like, Oh, I just need to replace my roof like right now all of a sudden, and they’re paying out of pocket for it. It’s a weird thing. I couldn’t imagine it because I mean, that’s that’s a great big expense. I mean, depending on the size of the house, the roof type and what kind of shingles you go with, you’ve got solar on the roof. I mean, the sky’s the limit as far as the roof cost goes. Have you ever inspected a Tesla roof? I have not. You have not. All right. I was just. Just wondering. Yeah. All right. Well, there’s no further questions there. No, I haven’t even I don’t even inspect solar. That’s you know, that’s something that I require them to have somebody else come at that certified to do that. I don’t want to give them misinformation on it. All right. I’m not educated enough on that yet, so. Well, let’s hit the hit the bell and we’ll move on. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

1
Home Inspection Software 3:04

för 2 years sedan3:04

3:04

Did. You know there’s all different types of home inspection software and we have a home inspector with us. Paul is here to discuss the different types of home inspection software and the templates that reside in it. As a real estate broker, I just thought Home Inspector. And then I thought about track the track, home inspection, right? And I never thought anything more about it, but there is more to it. So, Paul, why don’t you tell us just a little bit? Well, as a Trek inspector, we had to follow guidelines that are set out by Trek, you know, and as for the individual home buyer that we had to follow those guidelines for and we have a sop that we need to follow. Sop, give me what that would be perfect standard operating procedure. The when it comes to an investor or a company that purchase homes, you know, we can follow their guideline because that’s what they want to go off of. So that would be the differences between the two. All right. So now you have this piece of software on the on your device and the company that runs that puts in a bunch of different templates that you could kind of follow. Right. Right. Okay. So tell me, like what some of the templates would be and what some of the processes would be? Well, some of the templates are, you know, they want pictures of the house in front. From the front. They want to see the neighbor’s house. They want to see what the neighborhood looks like. They want to know, is it a nice neighborhood or a rundown neighborhood? You know what? They want to know the area they’re buying in. And then from there, they want to know the condition of the house. They want to know the landscaping. They want to see the, you know, the perimeter of the home. So we we go around and take pictures of all that, document everything, and go inside the home and do all that as well. And then you like touch a lot of things, right? Turn a lot of knobs. And turn on every light. Turn open and close every door, every door, every cabinet, turn on all the faucets, check all that stuff, make sure all the hearts on the left side, codes on the right. So you do a bunch of different things and everyone do. They prioritize different things in their template. Do you see like, Oh, this person really cares about this? Or This investor really is worried about this? Not so much. They’re they’re mostly pretty much pretty close to, you know, very similar very similar to one another. I haven’t noticed anything that’s just really outrageous. We had to go in there and do cubicles, which is a floor plan where video of the whole home, you know, walk in video that each room, it seems to be something that’s pretty, pretty hot, you know. So we do that as well. Okay. Well, now everyone knows there’s different software and there’s different templates and each investor kind of has their way of doing it right. And then they follow the template, take all the pictures to all those things and off they go. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

1
Top 7 Real Estate Markets For Stability in 2023 8:44

för 2 years sedan8:44

8:44

The top seven real estate markets for stability next calendar year. We’re going to take a look at that and see where these markets are calendar year. For 2023, right. Because what we’ve had is we’ve had growth, we’ve had things go on, we have inflation going on now. We have all these different concerns and sometimes you’re just like, can it be stable for just a minute? Yeah, right. And what people are nervous about is prices going down, price is going up. They just want to know what’s going on. Right. Right. And so we have the top seven markets. And I looked through this list and what I saw is this is kind of stayed true for a long time. For years and years. All right. Well, let’s take a look at some of these on the list. There were a few that I you know, that may be new players to the game. So we’re going to skip right down and we’re going to get to code is number ten. South Dakota. Not North Dakota. Not South Dakota. Now, they had an appreciation rate of 20%. That’s a very, very high appreciation rate. 20% it is. And they have new houses. They have underwater mortgages of roughly 5%. So those are people I’m not sure how, but they’re upside down in their mortgage currently would be really difficult to do when prices are going up 20% to have 5% of them underwater. Don’t really know exactly how that would be. It’s possibly bad data. I mean, even if you bought the housing, it would be up in value immediately. Right. So how you. Anyways, let’s move on. Nine number nine, South Carolina, I’ve been hearing more people purchasing there. They’re up 21%. Yeah. All right. There’s a lot of there’s new construction, it says. But Arizona so Arizona has always been one of those states that, you know, they’ve seen a lot of appreciation, but it’s also remained stable. Our 7% appreciation. In that’s a lot 27. And then imagine that. Look at their their mortgage their I guess they call them underwater mortgages 1.4 and that’s pretty low. Well, yeah, if you’re going up 27%, it’d be extremely difficult to be behind on it. Number seven, Vermont, Vermont, new residents. What did it say? People are moving there to escape from the big cities. Got it. Tennessee, we’ve heard all about Tennessee. The Nashville area is booming. Second strongest overall economy in the nation. Wow. 24%. They’re crazy. Those are big numbers on what these properties are up in value, right? They’re on average, they’ve all been over 20%. Right. Idaho, we know that. Gosh, there’s not even anywhere for four people to build their. 27%. Wow. Foreclosure rate, one in 6000 homes, underwater mortgages, 1.6. And the best state of all, Texas, that’s awesome. So 19%. So I think it has the lowest appreciation rate on the whole list.Which I have no problem with that. Okay. So think about that for just a second. If you think prices are crazy here, right, and you have to look on a relative index of what it is compared to others, I think everywhere else has been higher on the list so far. Yeah, this has been by far the lowest. So if you’re worried about a price reset to the negative side, you’re going to have the smallest amount of that here compared to other places because it’s only went up so much. Yeah, I’ll take 19%. It’s a great appreciation rate, right? I have no problem with that. Always remains been stable and I think we’ll remain stable. Yeah. Florida. Florida is number three, 25%. Pretty high. Yeah, it totally is. All right. Let’s get to Washington. Washington, 20%. It’s crazy. Economy number. Three Utah. Do you guys know who Shaun Bradley is? 27%. Shaun Bradley lives moved to Utah. Oh, yeah, Utah. Yeah. He was a client of one of my realtor friends. Yeah. And starts per 1000 is 12.2. Our 12.2. So they have a lot of new homes being built there in Utah. If we could scroll back up and let’s see where Texas is on new housing starts, because that’s an important thing. Our population continues to grow. And Texas, we’re at 8.9% or 8 --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

1
McKinney Concentrates on Roads 3:24

för 2 years sedan3:24

3:24

Hey there, McKinney. You guys need some more roads, and I think we’re going to get them that Shana Acquisto and she’s super excited about new roads, aren’t you? I am so excited. And I always love a great infrastructure project. So let’s go ahead and talk about it. We have an article to share. And we’ll get to it. So tell me, Shana. So, you know, McKinney is growing and I think that they’re really putting in a lot of effort and thought into making it better than maybe other cities like they’re trying to doing all of this to attract businesses and show them that, hey, it’s easy to get from A to B and they’re really investing in that. So I think they might have been a little behind the curve. I think they were they were behind the curve for a change for many reasons. They have a lot of land in their property or within the city. And that makes it that makes it a little difficult. And on a sidebar note, I want you guys, if you see right here, if you stop for a second on the car, there’s a link to the city council meeting that happened in June. I encourage you guys, wherever you live, whatever city that you live in, is to check the agendas every month when they have a city council meeting and see what’s on. There could be things that directly affect where you live, maybe some things being developed behind your neighborhood, or you see some type of change or topic of interest. And that way you keep up, you know, you keep up with what’s happening in your community, but you can always find it there. That’s where it starts. Everything has to go through the approval of the city council. So I think it’s really good to at the very least just glance through the agendas each time. Yeah. So McKinney has partnered with some of their different local places and they plan on contributing up to 150, 150 to $300 million for new roads. And it doesn’t say the exact time frame for that, but they’re trying and they’re making a commitment to roads. And I think that’s important. Right. Because as you put those through streets in. Yeah, then you’re going to do better off. And the upkeep I mean, the upkeep of these roads, too, I was driving, I don’t know when it was, but I was driving out in I think it was Irving like out in that area and it was like, man, the roads are so bad, potholes. And I don’t know, I think it makes a difference. Oh, no, it definitely does. So Omaha did show me the time frame. It looks like it’s a what is it, a 15 year time frame to put this money to work. And it looks like 150 to $300 million. So we’re looking at $10 Million a year ish. That’s going to go towards new roads. And that’s great. You know, anytime you can get those totally all for it. So interesting to see where and it’ll definitely help growth for sure. Definitely. And attract businesses. It does. There you go. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

Real Estate News TV

1
8 worst states for infrastructure 7:56

för 2 years sedan7:56

7:56

8 worst states for infrastructure --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message

Real Estate News TV

1
aquor - outdoor watering improved 2:41

för 2 years sedan2:41

2:41

aquor - outdoor watering improved --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message

Real Estate News TV

1
999 for Roadside Assistance on DNT 2:59

för 2 years sedan2:59

2:59

999 type it in your phone and if you hit enter, what would happen? Don’t do it right this second, but do you know what would happen? Well, if you are broke down on the side of the road on any one of the toll roads in town on a Dallas North Tollway , then you hit pound nine, nine, nine, and they will come and get your butt out of that sticky situation to keep traffic moving. Now, they’re not going to like totally fix the problem, but they’re going to help you and get you off the road and get you into a parking lot and make sure that you’re safe. And then you can make an informed decision on what to do because there’s a couple of seconds when your car has a problem, when you’re on the side of the road and you’ve got to say, Hey, what do I do now? Well, now you know exactly what to do. Nine, nine, nine. From your phone hit enter and you should be good. They will come really quickly and the guy be like, Wow, no one ever calls this number. And then for free, they’ll take care of your situation. Now, the reason I bring this up is because the other day I was driving back from Destin and I was like, holy cow, there’s a ton of cars on the side of the road. And I didn’t realize why. I was like, Man, that’s a lot of cars. I just been seeing so many cars. And then I remember that the heat, it’s super hot right now and the heat is a problem. So let’s go ahead and share the screen and show what’s going on here. So that’s the exact thing. You may recognize this little sign or poster or advertisement that they have. You probably seen it a couple of different places and not paid any attention to it. But now that we bring awareness to it, maybe it does help you out at some point in the future. But the reason that we have all the issues there is because it’s so hot that you have battery problems and then you know, we start to run and stuff like that. So the extreme heat and the extreme cold do have problems for batteries. Well, imagine if your whole car only ran on batteries. Hmm. I don’t know. Kind of weird. So is there a potential issue for cars that run only on batteries in extreme heat or extreme cold? And does that present a problem? I don’t know if you went out and made an investment in a battery powered car. We’ll find out in several years how that all works out. You may want to leave it inside the garage. I’m sure there’s something to that as opposed to leaving it outside. And if you drove it to work every single day and left it outside and put it in a charger because you got free charging, but then actually the heat of the summer drained your batteries or warm out faster. Does that even make sense? I don’t know. Those are all different things that I’m just reporting to you. That’s all I got. --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message…

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