Real Estate People

On this episode The Giambra Team discusses what listings are hitting the market in the coming weeks. We then preview a new series that will be coming out in the next few weeks, 'Budget Like A Baller'. Check it out!

On this episode of ‘Real estate people’ we discuss how our team sold a $475,000 stone house in Kenmore and we talk with Marcy Dexheimer, the listing agent of the 70 offer home in Cheektowaga, NY. We talked through the entire process of the Deerhurst deal, how we met the seller, our strategy to sell the house, and how our strategy played out. Every team member of The Giambra Team had their hands on this deal, and it’s amazing to see how smoothly this transaction went.

We then talked with Marcy, she recently listed a home in Cheektowaga which received 70 offers, which is remarkable. We talk about how she negotiated the best and final offer and what this means for homeowners in the neighborhood and those who are looking to buy in that area. Huge shoutout to Marcy for joining us on this episode!

North Buffalo is a unique section of Buffalo because there are many different neighborhoods grouped under one entity, however with very different features from one to another. There is Parkside, Depew, Hertel and then what we like to call “The Middle of North Buffalo”- this is a special realm where Kenmore and Buffalo collide. These houses are built on smaller lots, with not as extravagant features as the other North Buffalo homes. These houses are similar to the doubles that infiltrate all of the side streets of Hertel, however, these are single-family homes. The North Buffalo market hardly fluctuates and it usually mirrors what the rest of the Buffalo market is doing, in other words, it is predictable. Or was predictable. Then, 980 Parkside came on the market, it is a single-family home in this special “middle” sector. It is about 2,500 square feet, 3 beds, 3.5 baths, 2 car garage, and hardly has a backyard. It is livable, however not updated and it would need about $100,000 to update. It was listed at $250,000, which I thought was slightly low and after running some comps, I decided that $285,000 was fair market value. Nick decided to put an offer in for his clients at $305,000 with no inspection, 20k non-refundable deposit, coverage of short appraisal, basically, an offer with absurdly strong terms and not to mention: $55,000 over asking. He was confident, as an agent should be when they are submitting an offer like that. He did not get the offer- not even a call for a counter. This has caused an intense rift in the market- one that has not been seen in a while, or at least in my lifetime. If the “middle” section is now worth over 300k for a house that has no upgrades, it expands the value of any house in North Buffalo by at least 25k in my humble opinion. This is monumental for homeowners in any section of North Buffalo. If you want to learn more about the value of your house, call us. We are here to help.

This week, we talk about showings- what happens when a client goes through one of your listings as well as taking a client through someone else’s listing. We then dive into the onboarding process, where we walk through the steps of what we do when a buyer comes to us. Some of our buyer’s would move out of their residences today while others need to wait months, or even years. We started this process in October of 2020, and since then have built a database of more than 250 ready, willing and able buyer’s. Our mission is to help them find their dream home or investment property. Each of our buyers have their needs individually catered to by Michelle, making sure that every single thing they want in a property, they will have. As an agent working with buyer’s, Ang goes into what to look for on the exterior before even entering a home. You want to make sure the house you are putting your buyer’s into is safe and reliable unless they are expecting to put work into the house. When you are showing a house, another important thing to do is read your client. If your client wants you to be a hands-on agent, then you have to be it- and if they don’t, you can’t. If your buyer’s love a house that you showed them, your next step as an agent is to reach out to the listing agent and see what kind of specifications they are looking for in a contract.

In this episode we discuss the difference between a mortgage banker and a mortgage lender, the fees associated with each and what the difference is for YOU, the consumer of real estate. We talk with Amanda Bernardini from Haus Capital, a Mortgage Broker, who shares her perspective on the difference (she formerly worked for a bank and is currently with a broker).

We start this podcast by discussing how much money an investor should have saved before investing in real estate, going on explaining the difference between their down payment on their loan and their “closing cash.” Your down payment is stated by the bank when you get pre-approved for a mortgage and your closing costs are calculated based on the sale price of the property (3%). You should have 6.5% of the purchase price in cash when you are looking to purchase a home. After you purchase an investment property, you should have about 2% reserved to allocate to things such as vacancy and general repairs on the property. When buying your first investment property, you should work with an agent because they can give you access to the current tenant situation. They can give you insight on the rent, if the tenant is paying, if the tenant owns appliances, etc,. We also dive into what allots a neighborhood as an “emerging” one. We use the West Side of Buffalo as well as the Black Rock/ Amherst St. strip. Ang explains her buyer market update, the offers she has been submitting as well as the areas that her buyer’s are actively looking in. As a team, we dive into what makes a good agent and how far some of our agents will go for their clients. Ryan talks about the 3 listings he had last week, and how his business is still flourishing through the “hibernating” season.

Reviewing the Buffalo real estate market from this past week. To sum it up for you, a lot of buyers and not a lot of sellers. We have a new listing in Kenmore, its a really cool house, definitely worth checking out! AND reviewing 1031 exchanges, what they are and some of the regulations around them...

The holidays are always a busy time of year, even in the real estate world. The buyer’s market is experiencing a huge influx, however a lot of people are not ready to sell. In this podcast, we explain why there's the boost in buyer’s, and why this boost is not reflected in the seller’s market. As we walk our listeners through the process of offers and why some are accepted and declined, we also dive into why this time of year is a good time to focus on success, more so than current business. We go further into the buyer’s market and emphasize the importance of the discovery period while searching for your new home or property, which helps you narrow down on your perfect buy.

Our team had the busiest week in our history, helping 3 buyers purchase homes and 6 sellers sell homes. As we always look to make the experience better for our clients we talk about what it takes to get an offer accepted or generate multiple offers for a listing. While listening you will learn what the market looks like here in Buffalo, NY while learning valuable information about a real estate transaction in general.

Rather than having a team of individual agents, we’ve transitioned into specialized roles with individual agents managing one aspect of transactions. We did this to better service the WNY community with premiere real estate service. We talk about it, we also talk with Ryan Burke, our listing agent. We discuss what his day looks like when he's accepting offers on his listings, on Tuesdays.