Kevin Smith Real Estate Podcast

Here’s a tool from our pal Dave that can help buyers make better decisions. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! I’m back once again with my good friend Dave Marzinke from Movement Mortgage to talk about a topic that’s been coming up a lot in my conversations. With a lot of homebuyers facing multiple-offer situations, people are unsure whether or not they should make an offer over list price just to get the home they want. The answer is that it all depends, but we have a tool that can help you make a decision. It doesn’t always make sense to make an offer over list price. It’s essentially an online automated valuation model that gives a forecasted home appreciation for a particular home over the next 12 months and over the next five years. In some cases, it may make sense to go in and make an offer over list price based on a great future forecast. Over the long term, it could be a great move. If you have any questions or want a better idea of whether a home is worth buying over list price, reach out to Dave at (949) 449-2477. If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email anytime. We look forward to hearing from you soon.

Dave Marzinke joined me recently to break down the latest mortgage news. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! I’m back again with Dave Marzinke from Movement Mortgage to talk about what’s going on right now in the mortgage industry. A few weeks back, the Federal Reserve announced that they were going to keep the federal funds rate at 0% through 2023. Most buyers hear that and think it will keep rates down for another two years, but that might not be the case. The truth is that mortgage-backed securities are a completely different instrument than the federal funds rate. The federal funds rate can be set by the Federal Reserve and they can change it whenever they want. Mortgage rates themselves are affected by mortgage bonds, which are affected by inflation. When we start to see signs of inflation, that can push rates back up even if the federal funds rate is zero.       Mortgage-bonds affect rates more than anything else. If you have a decent credit score, good income, and a solid debt-to-income ratio, you’re looking at an interest rate of 2.75% to 3% for a conventional mortgage if you were to buy a home right now. It makes a ton of sense to buy and lock in that rate for a 15- or 30-year term. If you have any questions for Dave about interest rates or anything else related to mortgages, give him a call at (949) 449-2477. If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here are basic the differences between Redfin and Zillow you should know. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! Usually, one of the first times I’ll ever hear from someone is when they call wanting to know the value of their home. More often than not, these soon-to-be sellers mention estimates they got from Redfin and Zillow; they want to make sure they’re looking at the most accurate comps and that they know what’s been happening in their market over the past 30, 60, or 90 days. The main difference between Zillow and Redfin is that Redfin works with a smaller number of homes—about 74 million compared to Zillow’s 110 million. However, of the 74 million homes that Redfin uses, one million are actually active on the market. Zillow may have a larger total pool of homes, but a smaller percentage of those homes are active on the market. Redfin takes most of their listings right from the MLS. Additionally, Redfin factors in the list price of properties on the market, whereas Zillow does not. Instead, Zillow will use the square footage, room count, and general tax information to figure out an average of sorts. Redfin takes most of their listings right from the MLS, which is the most accurate source. Their margin of error for estimates of value is roughly 1.77%, which is very low compared to Zillow; a couple of years ago, Zillows margin of error was around 7.9%, but they’ve managed to get that down to 4%. Redfin and Zillow are great tools to use if you’re looking for a place to start, but I strongly recommend reaching out to a professional who has a lot of experience working with your local marketplace. If you have any questions about your particular property, don’t hesitate to call, text, or email me. I’d be more than happy to help you.

These are the closing costs buyers need to be aware of when purchasing. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! As a buyer, closing costs are a part of doing business when closing a transaction. Here are six such fees to prepare for when buying a home: 1. Title fees. Here in California, title representatives will conduct a background check to ensure the property is clear of any liens or other encumbrances, so they’ll have their own fees. How much this will cost you depends on the price of your home, but if you’re getting a loan for, say, $465,000, it will be in the neighborhood of $1,400. 2. Escrow fees. If you buy in California, escrow companies will cover all the documentation and act as middlemen between you and the seller. Typically, they account for 1% of the purchase price. These fees can include notary fees, so if you’re able to go to your agent’s office to sign any paperwork, you can reduce the cost of this fee. 3. Home inspection fees. You don’t have to order any inspections, but it’s highly recommended that you do. A general home inspection costs anywhere between $400 and $600—depending on whether the property is a condo or house.  There are six fees to prepare for when buying a home. 4. Lender fees. The exact cost for this fee depends on which loan you apply for—FHA, conventional, jumbo, etc. Talk to your lender and ask for a quick overview of the fees they’ll charge to get a good idea. 5. HOA fees. If the property is in an HOA neighborhood, you’ll have to pay the HOA transfer fee. 6. Property taxes. Real estate taxes are prorated at closing, depending on the day and month of your purchase. On the seller side, these fees can be provided by your agent. You can also ask the escrow company to provide a detailed net sheet of each estimated cost before listing your home. As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m here to help.

Home preparation has to start somewhere; here are top my five suggestions. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! Preparing your home for sale seems simple at first, but can soon unfurl into a daunting campaign. Like most things, home prep becomes easier once you know what to focus on. Here are the top five things you should do as a soon-to-be home seller: Have a consultation with your Realtor. I love to meet with a potential client to discuss some of their goals, establish a practical time frame for each step in the process, and share what sort of approaches we can implement to maximize their sale.  Tackle home improvements. If you’ve lived in your home for 10 years or more, you’ll more likely need to tackle some problem areas. Today’s buyers are savvy when it comes to scoping out a home; they’ll leave no stone unturned, so we need to make sure any issues to the front, back, and inside get addressed beforehand.  Whatever we can do to make the home more turnkey ready will be worthwhile.  Make sure the home is decluttered. Before we can have photos taken, your home needs to be clean and photo-ready. I know everyone likes to think they always keep their home presentable, but selling is a different ball game; your home has to look like a model home—cleared out, clean, and minimally (yet tastefully) furnished. I suggest getting a few boxes and mark some for donation, trash, and the rest for storage. If you declutter thoroughly, you will get the highest value for your home.  Improve curb appeal. Now, I’ve already addressed a lot of this topic in a previous video, but here’s a quick recap of things that go a long way for a home’s exterior: power washing the driveway; planting new flowers and weeding the garden; painting your front door; trimming lawn edges and shrubbery; and laying fresh mulch.  Professionally stage the home. I have a couple of professional designers that come in and help us stage the property. So if you don’t have furniture that’s necessarily in the best shape, we can actually rent chic items and arrange them in the most conducive way for pictures. We could also just move your furniture around to maximize lighting and make each room appear larger. If you want your staging prepaid, we can deduct that money from the escrow at the end of the sale (this financing option also applies for any of the aforementioned projects if you don’t have the money to get them done yourself). I hope this list provided you with a better sense of direction as a seller. If you have any questions, reach out to me via phone or email. I’m happy to answer your questions, refer you to great resources, or schedule that initial consultation with you.

Here are four tips for relocating to a new area or state. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! Today I have four tips to share if you’re moving out of the area or state: 1. Talk to your agent. The real estate agent selling your house will have referrals in their database of agents in other areas, both in your state and outside of it. I have tons of referrals for Realtors I’ve worked with in other states. 2. Groups of real estate agents. This is another excellent resource to use. For example, I work with a VA representative (Veterans Association of Real Estate Professionals). They have over 40 chapters all over the country, and I’ve met them at conferences, spoken to them on the phone, and know their history. I’ve also worked with the Women’s Council of Realtors. These are fantastic resources. There are different organizations that your agent is either a member of or knows, and they have people who could be amazing resources to help you find a new property. Your real estate agent will have contacts in their database for great Realtors in other areas. 3. The agent contacts the client. The out-of-area Realtor will contact the buyer moving to their area and have a long conversation about where they’re going to work, the school districts, different areas and cities nearby, and more. Then they’ll help the client make decisions based on their needs. These needs could include traffic concerns, activities they’re involved in, price, etc. 4. Find a national lender. If you’re selling your home from somewhere else, you’ll need a national lender, someone who is licensed in the state you’ve come from to the state you’re moving to. This will make the transaction a lot smoother than having to go through two different lenders. These are just a few tips if you’re moving to a different area or state, but there are many more. Contact us if you’re interested in hearing more about this topic. If you have any further questions, comments, or suggestions, feel free to call or text us. We look forward to helping you.

When adding value to your home, avoid these two costly upgrades. Buying a home? Click here to perform a full home search Click here to search our new construction homes.Selling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! If you want to add value to your home before you sell, there are two things you actually shouldn’t add to your house: 1. Windows. I had a client who wanted to replace his windows but was planning on moving in about two years. Within this time, he would not get all his money back. However, he decided to go ahead and get them because his current windows weren’t working properly. New windows are a great idea if you’re improving your home for the long term. However, if you’re only going to be there for a short time, you won’t get your money back for that investment. (Of course, get them if you need windows that work correctly, like my client.) New windows and solar panels are expensive, and you may not see a return. 2. Solar panels. Another client of mine had 22 panels installed on his house. At the time, the state was offering a tax credit on solar panels, so he only had to pay half the cost. He’s retiring and plans to stay in his home for a long time. His solar panels will decrease his monthly electricity bill, so it was an excellent investment. However, a different client of mine is selling their house and has a lease on their solar panels. That lease has to be qualified by the new buyer. If you have solar panels on your home, remember that when you sell, that payment you’re making on them must be qualified by the buyer, and they may not be able to afford or get financing for that extra cost. Bottom line: You’ll save on utility costs if you plan to stay in the house long term, but there are extra costs associated with solar panels. Also, check out this link to my video about the pros and cons of installing a pool on your property. If you have more questions about home upgrades to avoid or real estate in general, feel free to reach out via phone, text, or email. I look forward to speaking with you soon.

With fewer in-person showings, virtual showings are more popular than ever. Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! If you’re thinking about selling your home, its online presence is more important now than ever. Here are a few tips to help enhance your online listing and ensure that it catches the eyes of homebuyers: 1. Plan ahead. Using your pictures and videos you can set up a website for your virtual open house. Buyers can sign up, sign in, and even make an appointment to see it in person. 2. Come prepared. Make sure that you have masks, sanitizer, and gloves if you do have buyers coming to see a home in person. Practice social distancing, too! Turn on the light switches and leave all the closets and doors open. 3. Do a walk-through. Before a buyer sees the home in person, you can take a virtual video tour of the home and post it on Facebook and your MLS listing. If you have any questions about how to show your home virtually and/or in person right now, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

It’s a strange time, but our real estate market is still active. Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! A lot of people have been asking me if it’s a good time to buy or sell a home. Even though we’re still in a global pandemic, I want to reassure you that the real estate market is moving along. Over 2,300 home sales closed in March in Orange County across all price ranges. We’re still doing business, albeit in a more safe and socially distant manner. What can you expect in the coming months? To find out, watch this short video above.

It may seem like the world’s ground to a halt, but many people still need to buy or sell a home. Here’s how we’re stepping up to help. Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Price Evaluation  Check out and subscribe to my YouTube channel! Today I’m sharing some of the steps I take to help people who are otherwise unable to buy or sell in this ever-changing market. It all starts with arranging a virtual meeting for us to discuss your preferred time frame for buying or selling, and what features you’re looking for in your next home. I’ll set up a search criteria within a specified area for price ranges, amenities, build types, etc. and send matching properties directly to you via email. From there, we can carefully narrow down your options. Getting in and out of homes right now is difficult, but that’s where virtual tours come into play; I’ll be able to enter a home myself, showcase its features via a live or pre-recorded video, and answer your questions. To learn more about other awesome tools, like 3D Matterport virtual walkthroughs, watch the short video above.