Own It Girl

In this episode we discuss recent developments with Coronavirus (COVID-19) and how it could affect real estate. As fears increase, some of those involved in the luxury market might be hesitant.

Others might fear that home prices will drop. THIS EPISODE WILL RELIEVE those fears. We explain why prices in the Valley are going to go up - even with the Coronavirus.

We talk about how the virus has shaken the stock market... but why THAT won't affect real estate in Arizona. We discuss how such incredible demand in the Valley for housing will stave off many of the challenges that the preventative measures will bring.

We talk about the marker you should look for and explain just how far we are from that being a problem.

They may be stepping back. But we talk about why them leaving the market is good news for people who need financing to improve their chances in this competitive market.

We could see tourism drop and that could mean short term vacation rentals take a hit. We'll discuss why that phenomenon may (at first glance) seem like an alarm bell, and walk through what homeowners that rent out their properties on VRBO and Airbnb Those owners do when that market softens (they sell!)

We also go over the best tips when you are submitting an offer. We talk about the importance of including a personal letter in your offer. There are lots of sellers out there that would love to sell their home to a person who explains their story. It's not just about the bottom line.

A great pro tip from Diane about what to put on a dating profile!

Today, Tom Ross and I discuss the interesting and ever-changing world of interest rates. Tom (with Bay Equity) knows exactly how to understand the way interest rate fluctuations work, and explains the dynamics involved in how rates are determined and what the criteria should be for refinancing at lower rates.

There is a discussion about what the market means right now, with the dynamic of Coronavirus, which is not likely to stop having an effect on sales.

We discuss an easy way to figure additional payment based on a simple calculation you can do in your head (it's only a 'rough' estimate but it helps).

We also break down some key zip codes in the Valley and available housing supply in the Cromford Report.

• What affects interest rates
• What is a "point"?
• When should you refinance? Is it a full percentage point? How dependent is it on the no-cost aspect of a refinance?
• With rates where they are now, how to estimate your mortgage payment per month for every $10,000.

First you gotta find someone to help you… do you use a realtor, real estate agent, or a broker? We're going to talk today about the difference and we'll also give you the scoop on discount brokerages.

Also we've been hearing all over the radio and television about these businesses that will buy your home as well. We're going to take a very deep look at this. Clients ask me regularly about these companies and whether there is a catch. Here's a spoiler…there DEFINITELY is a catch! We're going to explain it to you.

As we do each week, we'll talk to Tom Ross with Bay Equity along with data analyst Tina Tamboer with the Cromford Report.

Some show notes for your reference while listening to the different types of brokers is below. Thanks for listening!

1. Low Commission (Flat Rate) – a low commission broker who offers a flat rate when selling your home
2. Hybrid Real Estate Brokers – hybrid model that is a combination of low commissions and flat rates when selling your home
3. 2 for 1 – 2 for 1 model that is based on the agreement of buy a house with the agent and they will sell yours for free
4. No Commission (Flat Fee MLS) – The no commission model that really means you're selling the house yourself but there are a few valuable MLS listing services offered by a real estate agent
5. Buyer Rebates – The buyer rebates model where real estate agents agree to refund a portion of the commission they receive to the buyer

Be sure to follow us on social media! Facebook, and LinkedIn, or visit our website at ThatRealEstateShow.com.

Diane Brennan continues with number seven in the Home Buying Series. It's time to talk about the time from the appraisal to closing on a home.

First, we discuss "mansplaining". We get into what it was and Diane tells a funny story about something that happened to her, told a friend, and was told about this term. We discuss what it was and how often it seems to happen! Also how irritating it is!

Diane jumps in with Tom Ross, an experienced lender with Bay Equity, about the what he is finding in trends with his buyers.

Tom talks about low inventory and talks about another approach Tina Tamboer takes when measuring that in the market.

We'll talk about percentages of sales above, at, and below listing price, with some interesting results for February.

We also talk snakes, Africanized bees, and coyotes!

Part six of Own It Girl's Home Buying Series is about when the house you are buying is a appraised and it comes in low. Diane Brennan, Tom Ross, and Tina Tamboer talk about what the buyer can do. They will go over the options that are available.

Part five of Own It Girl's Home Buying Series is the appraisal. Diane Brennan and Tina Tamboer talk to 30 year appraiser Jay Josephs with Josephs Appraisal Group on what appraisers really look at. They bust all the myths and misconceptions about the profession and techniques of coming up with the final number.

It's part four in our Home Buying Series. Diane Brennan, Tom Ross, and Tina Tamboer talk about the home inspection part in the buying process. They go over the 10-day due diligence period when you purchase a home in Arizona. What to look for in a home inspector. What home inspectors look for in the home you're buying. Plus, what you need to check out yourself.

It's Part 3 in Own It Girl's Home Buying Series. Diane Brennan and Tom Ross talk about getting your offer accepted in a competitive seller's market. They go over Diane's three things you need to do to have your offer accepted. She talks about what an escalation clause is and how it could give you an edge on the competition. Tom shares a hack that he uses as a lender to help a deal go through when the appraisal comes in a bit off.

1. Getting Qualified
2. Home Search
3. Offer Accepted
4. Inspection
5. Appraisal
6. Appraisal is Low
7. From Appraisal to Closing on a Home

It's part 2 of Own It Girl's Home Buying Series. This episode is all about the search for that home now that you've been prequalified.

Diane Brennan and Tina Tamboer talk about how hot the housing market is in the Phoenix area and what that means when you are looking. Tina warns that some buyers will have to be willing to not to get everything they want or be willing to remodel.

Diane has no problems with her clients who want to search for homes on websites like Zillow but talks about the limitations that they have. Limitations that include houses under contract even though the popular website says it is available.

Should a buyer be concerned about a home that hasn't sold quickly? What about a home that has some updates and repairs that haven't been disclosed?

Don't get caught unprepared! Make your list of "must haves" and listen to this episode before you call your realtor.

1. Getting Qualified
2. Home Search
3. Offer Accepted
4. Inspection
5. Appraisal
6. Appraisal is Low
7. From Appraisal to Closing on a Home

Welcome to the first episode of our series on buying a home! Join me, Diane Brennan, as we walk through the steps in buying a home. Today Tom Ross and I will start walking you through what you need to do before you ever look at a home.

• In Arizona you need to before you can make an offer.
• Time matters in tight markets! Don't miss out on your house.
• You want to look at homes that you can afford

Now that you know you need to qualify, give your lender, Tom Ross a call. Today Tom covers:

• How much you need for a down payment. Is it still 20%?
• What paper work you will need to have for your lender.
• What your job history will have to do with your qualifying.
• Credit checks and how pulling your score can affect your score.

And, after all of that, you won't believe the Zillow story I have for you!