The Stark Reality Of Insurance Claims...

... and the feeling that you get when something wasn't covered that you thought was covered

as we enter hurricane season

we are preparing for the worst and hoping for the best

damage to your home can come from a number of things

• wind
• tropical storms
• hurricanes
• floods
• termites
• vandals
• aliens

when its time for a home owner to place a claim

they will need to provide some documentation

and then wait for an insurance adjuster to come out to inspect the property

their findings will determine if your claim is approved

even if your claim is approved, you may not get all of the money

• you may have a hurricane deductible that needs to be met
• the damaged part of the home may be subject to prorations based on its age
• loss of rent for investment properties may have its own challenges

as far as flooding goes...

• if its due to a named storm you may be more likely to have a successful claim
• if its caused prolonged rains it may be more difficult
• if the home is in a flood zone other than zone x

your claim may very well be dependent upon having a flood insurance policy

I always recommend that homeowners ask their insurance agents a lot of "what if" questions

tune in to todays show where I break down these scenarios

There Is A Certain Truth To Back Up Offers...

...and savvy sellers taking full advantage of this under utilized tool

there are times when the highest offer

isn't necessarily the best

and to hedge against that

we are noticing sellers signing backup offers

that have a little less money in them

but a lot more certaintly that they will close

and there is a way to structure the 1st contract

to make it possible to move to the backup offer

below we can examine 3 scenarios:

1 - let's suppose that the buyer makes an offer

that appears to be a cash purchase

they check the box that says cash with no financing contingency

that doesn't mean that they buyer cannot apply for financing

it just means that they do not have any protection if their loan isn't approved

2 - some buyers will attempt to tie up a property with a lengthy inspection period

maybe the haven't been in the property yet

or perhaps their goal is a 2nd price negotiation during the inspections

3 - some buyers need to sell their home in order to make the purchase work

in each of these cases, smart sellers are using a 72 hour kickout clause

it doesn't mean the seller can unitaterally kick out a buyers contract

but it does give them the opportunity to inform the 1st buyer

that they have a different offer that is acceptable to them

and if the buyer wants to stay in the deal

they are going to have to remove some contingencies

that are holding things up

and this gives the seller an ability to have some control of closing their sale on time

tune into todays show as we expand on how all of this works

Dialing In The Summer Sales Forecast...

...and most people are wondering where the market is heading

Most years, we normally see an uptick in acivity in June and July

• school is out
• tax season is largely done
• moving to a new school district
• kids graduated
• retirement

But 2026 has proven to be anything but a typical year

and there is a lot of uncertainty out there

that is living "rent free" in consumers minds

and causing many to delay important decisions

• government shutdown
• the war in Iran
• inflation at 3.3% but gas at $4+ /gallon
• low inventory
• waiting for interest rates to come down

today's show walks you through these concerns

and gives you a forecast for when things will pick up

that just might surprise you

Both Buyers And Sellers Winning...

...is happening a lot more than people might think

some of you are shaking your heads "NO!" right now

stay with me on this

a lot of people are getting the results they want

for the reasons that they want them

frustrated buyers are finding homes to buy

after searches that took far longer than they ever imagined

do they always get a rock bottom price?

of course not

but they get the #1 thing they wanted all along

a new home that provides what they need today

how about sellers winning in this market?

you want to believe that the maximum price is the goal

but for far more people than you would think

the #1 thing for them is Closure

the ability to move on from 1 home that they own

and reallocate the proceeds into a different area

whether it is a new home, an investment property

or something else that is not real estate related

personally speaking

I have bought 3 homes and sold 1 in the last 6 months

I am both a buyer and a seller in this market

and I am not alone

BOTH buyers and sellers are winning

Closing Day Can Be The Most Stressful...

...Time for everyone involved in a real estate sale

Recently I personally worked with a couple

That wanted to buy their dream home in Florida

They were supposed to close on a Thursday

That didn't happen

and it became a class on Murphy's Law

through no fault on anyone involved

the closing needed to be extended

not once, but twice

and needless to say

things got really stressful

tune into todays show to see how it all works out

The Changing Of The Guard At The Fed...

...may bring some notable changes to policy and lower interest rates

Jerome Powell's term as Fed Chair ends on May 15th

Kevin Warsh will be taking over the leadership role

Interestingly enough, Powell has chosen to stay on as part of the committee

historically speaking, the exiting Fed Chair hasn't remained after their term expires

Warsh has stated that he will maintain Fed Independence from the Executive Branch

but also mentions that he is opened minded with regards to aligning policy

he is targeting a reduced Fed balance sheet as a way to reduce rates

its widely anticipated that rate reductions will be on the way very soon

tune into todays show for my take on what is about to happen

Creative Financing Options...

...Here are the GO TO OPTIONS for many home buyers

that have unique circumstances getting in the way of buying a home

• owner finance
• seller paid closing costs
• rent to own

here are some of the reasons they seek these options

• lack of verifiable qualifying income for bank loans
• debt to income ratios are too high
• lack of cash available for closing costs
• self employed

here are some of the reasons that sellers are willing to consider creative finance

• they want a quick sale
• helping a buyer might lead to a more desirable sales price
• close quickly for reasons that are advantageous
• there is a tax strategy advantage that is to their benefit

today's shows gets down and dirty with the details

The Unrepresented Home Buyer...

...A segment of the market that appears to be growing slightly

In essence, this is someone that does not want to use a real estate agent

when purchasing a home

their belief is that they can manage the entire transaction

and potentially save some money along the way

they would take on the responsibility of

• setting up their own showing and gaining access to the property
• writing their own purchase contract
• navigating any/all of the required addendum
• hiring an inspection company and attending inspections
• working directly with the closing agent to verify all figures

on the other side of the transaction

home sellers have raised these concerns

• access to their property to an unknown, unlicensed person
• sellers agent doing work on behalf of a buyer that they do not represent
• buyers writing their own offers
• is the buyer savvy enough to actual complete the sale

I am not here to say that its not possible for buyers to represent themselves

this option has always been available

today's show explains some of the friction involved in the process

Boomers Are Driving The Real Estate Market...

...Homeowners born betwen 1946-1964 years old are leading the way

This group makes up 46% of sales this year

Which oddly enough is the same amount as last year

Finishing at a distant 2nd place were millenials born 1980-1998

making up 26% of sales this year

a slight decline from 29% last year

Boomers lead the way in home equity by a wide margin

which is a big reason that they are BIG PLAYERS in this market

If you want to look at the "extra boomers" or "super boomers" category

YES I made up those names

Those aged 71-79 have lived in their homes an average of 15 years

and have an average home value over $408,000

They definitely have the experience and $$$ to make a move in almost any market

With the summer market on the horizon

it will prove to be an interesting display of the buying power

of the Boomers vs Millenials

get out your popcorn

this is gonna get interesting

Not Everyone Is Excited To Inherit A Property...

...Don't get me wrong, some people are thrilled to receive one

But a surprising number of people are not loving the idea

we hear some very compelling reasons each week from new owners

• they already have a home
• they live a long distance away
• the home needs a lot of maintenance
• there are property taxes due
• the monthly carrying costs are more than they can afford
• the mortgage balance may be higher than the market value

most people work very hard to leave a home to their loved ones

and most times it works out as planned

and if you never really thought about the list above

you may not give much consideration to making sure that the gift is a good thing

ultimately the new owner of the inherited property makes 1 of the 4 decisions below

• move in full time
• use it part time
• rent it
• sell it

and they don't always have the luxury of time to plan ahead

and have a solid plan in place for which option is best

todays show goes deep in the details