In this episode, we are giving tips on how to get your offer accepted in this crazy seller's market. Whether it's making sure you're completely approved by your lender BEFORE making your offer, shopping below your top price, or finding out things (other than cash) that the seller might want... There are lots of way to give you more an advantage as you go up against the multiple offers and deals that are cash. Ron and Tom give 10 solid ideas for shaking up your home search and keep you from getting frustrated at every turn. Buying a home in a seller's market may be a lot of work, but it doesn't need to be painful or scary, either!
Welcome back! In this episode of the podcast, we're taking a look at an often-times misunderstood aspect of the real estate transaction: Title Insurance. To start off though, Ron and Tom discuss the news of the day -- a story regarding the CEO of Redfin being "freaked out" by the lack of inventory out in the market. They discuss why inventory is such a growing problem and why Redfin is ill-prepared to deal with it. They then bring in their guests, Marisa Azra and Tony Taranto of Chicago Title Company, who take us through the process and explain what exactly title is. At its most basic, it means "Do the people who are selling me their home -- actually own it?" Tony and Marisa explain that title insurance is insurance that protects a homeowner should anyone come along later and claim that they have a right to the property. We then chat about how the process has changed through the years through the incorporation of technology. We then talk about the several types of Title Insurance and how each one affects/protects each type of transaction. The conversation then moves into potential problems that can happen in title and how they can be resolved (Quiet Title Action). We then wrap up with a conversation about the worst "horror stories" they've seen in their experience. It's an incredibly fascinating and educational episode -- and pretty fun, too! We hope everyone enjoys it and leaves lots of comments below!
We’ve reached Episode #025 of the Clarified Realty Podcast and we’re trying something a little new! This week Tom And Ron are taking a look at some of the latest news stories having to do with Real Estate.
The first news item they discuss is how home values, contrary to current popular opinion, still have not risen to meet what they were prior to the crash. For some areas, there is still a very long way to go. This also appears to have less to do with the quantity of jobs and more to do with the level of wages. Cities with higher wage jobs are also doing better when it comes to the values of their homes. Also, in a related story, Redfin is claiming that buyer demand is down. We dissect this idea and find that the headline is a bit misleading. We use this as a cautionary tale to show people that you shouldn’t always make decisions without having all the information first, as well as a more complete understanding of the big picture.
The second news story is regarding a lawsuit against Zillow and their “Zestimate.” A homeowner is having a difficult time getting the price she deserves for her home because the Zillow’s estimate is erroneously including homes from a cheaper area as comps. We discuss how even Zillow admits that they estimates are inaccurate and not to be relied upon.
The next item is really a combination of two stories. Ron brings up a survey that was done to gauge different generations’ knowledge of basic financial terms (like 401k, CDs, HELOCS). Tom is discourage to hear that the numbers are not adding up to what you would hope them to be. This brings up another article regarding a new mortgage website called “Morty” that allows buyers to be more involved in the process. Tom brings up the question — if most people “don’t know what they don’t know,” should they really be trying to do the job traditionally done by an expert? While both Tom and Ron are firm believers in educating their clients, at some point a line can get crossed and the client is actually hurting themself more than helping.
And lastly, we talk about the new 100 million dollar listing here in Los Angeles… Opus. The agent has made news recently because he is using naked women in his marketing video for the property. While Tom has no objections philosophically about this… He does think the video sucks and also sabotages the message that the agent really should be trying to communicate.
It’s a great episode with lots of fun and interesting topics. We hope you enjoy listening and that you’ll leave us some comments or give us a review on iTunes. We’d be forever grateful!
It's Episode 24 of The Clarified Realty Podcast and Tom and Ron hit the ground running with a discussion about the difficulty companies in Los Angeles are having hiring employees due to the high cost of housing here. They discuss various ways that governments can help -- by changing zoning laws so that more inventory can be built, bringing prices down. They then bring in their guest, Brian Darling. Brian is a business manager and owner of Darling Business Management. We start off with a conversation about how someone finds that they need a business manager and how he gets to know the idiosyncrasies of each of his clients. He then talks to us about his role he takes with his clients when they tell him that they wish to purchase a house. We then discuss how working with artists and creative people is completely different that working with others -- and how they very often want others to deal with the details of their business. We finish up by talking about Brian's work with the LGBT community and if he approaches his work with them any differently. This is another really interesting episode and we hope that you'll give it a listen and tell us what you think in the comments. And if you like what you've heard, we'd really appreciate it if you could take a moment and review it on iTunes!