North Shore's Real Estate Podcast with Mike Quail

If you’re thinking of selling your home, now is the time. We’re offering a $1,000 credit to all sellers who sign a listing agreement with us by April 15. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation I have an exciting announcement for you today. There is a new tax credit that’s only available with The Quail Group—not the city, not the state, and not the federal government.  We are offering our sellers $1,000 off any of your expenses that come from commissions, seller attorney fees, or recording fees. We are giving you $1,000 when you close with us.  To qualify for this $1,000 credit, you just have to sign a listing agreement with us by April 15. You just have to hire us; if you want to wait to put your home on the market until later in the year, that’s fine. Just make sure you hire us by April 15.  This is just our way to help the economy a little bit. The other thing is there aren’t a lot of homes on the market. There are a lot of buyers out there, so if you’re looking to sell your home, you can get some money off some of your fees through us and get your home on the market.  “ Hire us by April 15 to get your $1,000 seller’s credit. ”There are a lot of bidding wars going on right now, with some houses getting as many as 10 offers and selling for $10,000, $20,000, $30,000, or even $40,000 over asking price. So, not only can you sell your home for a lot of money right now, you’ll also get $1,000 off when you work with us.  We just want to help get things going as the spring market starts. If you are interested in selling your home, give us a call and help us end this inventory shortage. We would be happy to help you!

Rents right now are on the rise. It’s time to get out of the rental trap and take steps toward long-term wealth. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Right now, rents are on the rise. People here on the North Shore are seeing just how hard it has been lately.  That said, I don’t want you to get caught up in the rental trap. Rents are up 2.7% nationally and over a quarter of renters are spending half their income on rent. Renters also aren’t earning any equity for the money they’re paying toward their housing situation, and renting lacks the tax benefits of homeownership.  These days, it is actually cheaper to buy than to rent. This is partially due to the fact that homeowners have the benefit of mortgage interest deductions on their taxes. Still, many people find themselves uncertain of how to transition from renting into homeownership. A recent survey found that while 80% of millennials plan to purchase a home, 72% had no concept of when they would do so. “ You can never gain long-term wealth if you’re caught in the rental trap. ”A large portion of people who would like to own a home feel they lack the funds to do so, due to the false belief that you must save 20% for a down payment. In actuality, there are options for buyers to get into a home for just 3% or 3.5% down. For veterans, there are even financing options that require no money down at all. The bottom line is that you can never gain long-term wealth if you’re caught in the rental trap. While buying a home isn’t always the right option, it isn’t an out-of-reach alternative to renting.  If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

I’ve got five important tips to share with you today if you’re a new homeowner. Take care of these things right away when you move in. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation I’ve got five important tips to offer you today if you’re going to be moving into a new house anytime soon: 1. Lock it up. Once you’ve moved in and unpacked, the first thing you should make sure you do is change those locks. 2. Remove and change the toilet seats. You deserve a fresh, new throne in your new home. They’re cheap and will give you peace of mind. “ Changing your air filter is essential. ”3. Change your air filters. This is essential. It’s only a few dollars, but it will greatly increase the air quality in your home and (possibly) lower your bills. 4. Paint your front door. The new neighbors will love it and it will help your home look nice and new. It will make a nice impact. 5. Change the scent of your home. When you go into someone else’s home, there’s always that unfamiliar scent. Your home probably has that kind of scent right when you move in, so bring in some candles to get a nice, new scent in the home. These are the five things that I recommend that you do when you move in. They are all easy and cheap, but they are also important. If you have any questions for me in the meantime, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

Today, I’d like to let you in on a sliver of the market many other buyers don’t have access to. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Today, I’d like to talk about something that’s been a hot topic here in my office: shadow inventory. Have you ever heard of the shadow inventory? If you haven’t, let me explain.  We define shadow inventory as the properties not listed on public websites. In fact, these homes aren’t even actively for sale, per se.  “ My team and I are always searching for deals outside of the MLS. ”However, with some work on our end, we are able to make some of these properties available for you. Expired listings, canceled listings, temporarily withdrawn listings, and coming-soon listings all fall under the category of shadow inventory. My team and I are always searching for deals outside of the MLS. So, if you’d like access to these properties, we would be happy to help.  These homes constitute a fraction of the market that many other buyers aren’t aware of. This means less competition for you. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Are you thinking about buying a home in 2018? I have seven tips that will help streamline that process to your benefit. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation If you’re thinking about buying a home in 2018, here are the top seven things you should do: Check your credit score. Your credit score is like gold when applying for a mortgage.Don’t open any new lines of credit. You don’t want anything to affect your debt-to-income ratio, which could lower your buying power.Suggest financial gifts from your family. Instead of traditional presents, suggest that your family gift you funds for your housing purchase. Save that money towards a down payment, closing costs, and home inspectionKeep tabs on interest rates. Rates are really good right now, so make sure they don’t climb too high when it comes time to purchase because that could lower your buying power.Find a good real estate agent to help you out. Anyone on our team would be happy to help you out. We’ll talk you through what you’re looking to do, educate you on the market, and tell you about the shadowy inventory that’s available.Get a mortgage lender who you can trust. We know some of the best in the business who will do a fantastic job and save you money.Get yourself pre-approved. Without being pre-approved, looking for homes would be like going to dinner without a wallet.“ Without a pre-approval, looking for homes would be like going to dinner without a wallet. ”If you have any questions about buying or selling real estate, feel free to give us a call. We’d love to help you out.

Are we in a real estate bubble and is it about to burst? While prices may come down soon, it won’t be anything like last time. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Is the real estate bubble about to burst?  The market has been going up and up and up for the last couple of years. As we all know, what goes up must come down. We haven’t gone down yet, so does that mean there is still room for home prices to increase? I’ll share my thoughts on these questions today.  First of all, there were a number of fundamental factors that caused the market to crash so hard the last time. One of the biggest factors was that there was no documentation for loans. You could tell a lender, “Hey, I make $200,000 a year.” Even though you’re only making $20,000, they would believe you.  That doesn’t happen anymore. Now, you have to prove that you will be able to pay your mortgage in order to get the property.  In the past, there was a whole subsection of loans built on sand. Once the market started to go down, those people couldn’t afford their homes anymore and the market just crashed.  Again, we don’t have that issue anymore.  There might still be room for prices to increase. I believe that we are heading for the crown of the market. Check out the video above to see what I’m talking about.  Basically, as prices go up, we will hit a peak, and prices will begin a downward curve. If we draw a line, it looks like a crown. Prices will start to go down, but there won’t be a dramatic cliff-drop like we saw last time.  If you are thinking of selling, you can lock in those gains now. If you are buying to flip a home, you don’t want to get caught at the peak right before prices go down. If that happens, you could buy something at $400,000 and end up selling at $390,000, which costs you $10,000.  That said, now is still a good time to buy if you plan on living in the home for the next five to seven years or beyond. Even if there is a little price dip in the next two years, it doesn’t really matter because you’re not planning on selling. Plus, by buying now, you will lock in a 30-year fixed cost at a low interest rate.  “ Now is still a good time to buy if you plan on living in the home for the next five to seven years. ”If you are thinking of selling your home, I recommend that you get going on that in the next zero to 12 months before home prices start to go down. You can lock in good gains before prices start to go down.  I believe that the market has reached its peak and that we will see a soft landing here. Again, since loans were only given out to qualified buyers, we won’t have a whole subsection of homeowners suddenly unable to pay their mortgage.  I am starting to see buyers resist those listing prices a little this fall. There are still some bidding wars, but if a house isn’t priced correctly and has a little funkiness, it isn’t selling. There is super low inventory, so we might have a little bit of a run-up left before the market peaks. When it goes down, I think it will only go down a little bit.  If you are trying to decide when to enter the market, obviously the best time to do so is when it makes the most sense for you to buy or sell. If you have any questions, please don’t hesitate to reach out to me. I would be happy to help you!

What makes this winter a great time to list your home? There are seven key reasons. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Here are the top seven reasons why you should consider listing your home now instead of waiting until spring:  1. There’s less inventory. This means your home will get more attention.  2. Job relocations. There are many corporations that do first quarter job relocations, and those employees only have a weekend or so to fly into town and look at homes. They need to make an offer on one of them soon—how great would it be if that was your home and you didn’t need to wait until spring when there is a lot more inventory? 3. The real estate agent community is locked in right now. A lot of agents aren’t as busy this time of year. They’re only working with a few buyers, which means they’re all the more focused on getting those buyers the right property.  “ How great would it be if your home got sold now and you didn’t have to wait until spring? ”4. Easier landscaping. You don’t need to worry about making everything look perfect in your yard. All you have to do is shovel. Also, it’s not necessarily a great time to put your home on the market in early spring in this regard because all the snow is melted and everything is muddy.  5. You have fewer people coming through your house. You may think fewer people coming through your house is a good thing, but that also means having to deal with fewer strangers. 6. Buyers are more serious. You won’t get any looky-loos or tire-kickers in the wintertime. Winter buyers are motivated and they will pay you top dollar. 7. You can get a faster sale. Again, this is due less inventory being available. Additionally, a recent study by Trulia showed that homes are selling for more in the winter.  If you have any other questions about the benefits of listing your home now, don’t hesitate to give me a call or send me an email. I’d be happy to help you.

What makes this winter a great time to list your home? There are seven key reasons. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Here are the top seven reasons why you should consider listing your home now instead of waiting until spring:  1. There’s less inventory. This means your home will get more attention.  2. Job relocations. There are many corporations that do first quarter job relocations, and those employees only have a weekend or so to fly into town and look at homes. They need to make an offer on one of them soon—how great would it be if that was your home and you didn’t need to wait until spring when there is a lot more inventory? 3. The real estate agent community is locked in right now. A lot of agents aren’t as busy this time of year. They’re only working with a few buyers, which means they’re all the more focused on getting those buyers the right property.  “ How great would it be if your home got sold now and you didn’t have to wait until spring? ”4. Easier landscaping. You don’t need to worry about making everything look perfect in your yard. All you have to do is shovel. Also, it’s not necessarily a great time to put your home on the market in early spring in this regard because all the snow is melted and everything is muddy.  5. You have fewer people coming through your house. You may think fewer people coming through your house is a good thing, but that also means having to deal with fewer strangers. 6. Buyers are more serious. You won’t get any looky-loos or tire-kickers in the wintertime. Winter buyers are motivated and they will pay you top dollar. 7. You can get a faster sale. Again, this is due less inventory being available. Additionally, a recent study by Trulia showed that homes are selling for more in the winter.  If you have any other questions about the benefits of listing your home now, don’t hesitate to give me a call or send me an email. I’d be happy to help you.

There are five renovations that will add value to your North Shore home. I’ll go over each of them for you today. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation I’d like to take a break from reading to share five things that you can do to add value to your North Shore home.  1. Pay attention to curb appeal and landscaping. Dress up your lawn, have it edged, and make it look really nice. Trees and shrubs can get overgrown over the years, so you can call a landscaper or trim everything up yourself.  Replacing the front door can be expensive, so if you want to save some money, simply paint the door and replace the 20-year-old hardware with new hardware.  2. Remodel the kitchen. Quartz countertops are rapidly replacing granite as the most popular option for homeowners. Cabinets with open shelving are popular as well. Replace old sinks and update faucets with brushed chrome or antique bronze fixtures.   3. Use smart home technology. If you plan on replacing your HVAC system, audio and video system, or alarm system, install systems that can connect to your smartphone. A lot of these new systems are set up with wireless now, which is pretty amazing.  4. Update your carpet and flooring. Replace carpet with hardwood floors like laminate, hardwood, or ceramic planks. If you do want to add new carpet to your home, only install carpeting in the bedrooms.  5. Update your bathrooms. Quartz countertops and white cabinets are very popular. Replace old fixtures with brushed chrome or bronze. A lot of people are also replacing bathtubs with walk-in showers.  “ Quartz countertops are very popular with homebuyers. ”I hope these five tips can help you. I’ll go back to reading my book, “The One Thing” by Gary W. Keller and Jay Papasan. I highly recommend it.  In the meantime, if you have any other real estate questions, just give me a call or send me an email. I would be happy to help you!

What is pre-listing and what are its benefits? Today, I’d like to share some details about this process. Buying a home? Click here to perform a full home search  Selling a home? Click here for a FREE Home Price Evaluation Today’s topic is one that a lot of people might not entirely understand. The subject I’m talking about is pre-listing. Pre-listing is a process where my team comes out to your property, assesses it, has you sign a listing agreement, and then delays the listing from going on the multiple listing service (or MLS).  The reason we delay the listing is so that you can start working with my team and I on your property before it’s necessarily ready for the market.  Pre-listing means you aren’t in a rush during the process of preparing your home. It also means you’ll be able to get the most money for your home because you are able to be so well-prepared.  Oftentimes, people can miss things when they’re rushed. As a result, this leads to you losing money because you didn’t have a home preparation specialist come in.  Without professional consultation or time to take care of small jobs, the home won’t present as well in person or online. Ultimately, this will reduce your demand and therefore will reduce your price. When we pre-list, we have plenty of time to get things done.  Another pitfall of rushing your listing is the amount of stress it can cause you. My team wants to help you avoid these feelings.  So, what are the steps of pre-listing? First, we discuss what price range your home will sell in. At that point you bring us on as your real estate advisors and we bring in a home preparation specialist. Next, we compile a top 10 list of things to do to get your home ready for sale. Once you’re done preparing, we’ll have professional photos taken of your home and interview you about the features you love. After that, we use what you’ve said about your home to help you market the property. But, the bottom line is that we don’t go live on the market until you’re ready to do so.  “ The bottom line is that we don’t go live on the market until you’re ready to do so. ”So if you’re interested in listing your home, call us way ahead of time. We want to help you prepare your listing far in advance so that you can have the most success possible. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.