Timing Your Property Sales

Your Real Estate Today
Saturday, January 13th

Kerri Jamison of Jamison Real Estate, and Sandy Dickinson of Summit Funding join Paul to discuss mortgages and market timing.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

And advice provided on the following program is on an individual basis was there should not consider today's discussion as a recommendation for. Many investment and should carefully evaluate before investing. DC you'll really see. 1110. Each each hello and welcome to the show your real estate today I'm Carl Jamieson your host and I know. We are alive. It has been that way too long since we have been able to talk to you lie of and that has some kind of football game of basketball game and who wants to listen on that you can listen the real estate information that has to do well score well we liked that. So we're glad to be with you all joking aside. Glad to be with you glad that you witnessed today if you're out and about today crisp clear Carolina today thank you for tuning in. Again this is the show your real estate today I'm told Jamison Jamison realty with Keller Williams Jamison property management your host. And if you wanna call 704 or 5701110704570. 1110. Q ever real estate question you have a mortgage question because we have a special guest. You have that information that you would like to know tore ask about your home. I know a lot of people are common into the new year going this is a year were gonna go small doses a year we're gonna invest in real estate this is senior we're gonna. Make this change to our property doses a year were gonna. Real estate that's what we're here for so. We would love to hear from you again the number 704. 5701110. Well who's with me today where our. First. My partner. Business partner. Best friend Cary is with me my wife she is a certified staging consultant. With Jamison. I it has slots to share so. Welcome spent a long Yankee pitcher hands yes yes she's the one that tax me the most and says I can't believe he just said that the Hancock. How also low with me as my good friend a partner to Jamison. Don't jam the Jamison team. Our favorite lender sandy Dickens. Hello Andy back too good to be with brief Q do you sandy sandy as with summit funding she's there to help our clients I'm. Really learn and understand not just about how to get a mortgage for what mortgaged its best. For the situation that they're in and she's a really hands on in her business and you know one thing I loved about working with sandy. While pol. Really enjoyed it and what what's that Carl Jessie asked mr. Clinton at the. Oh well what would that be mister Jamison and well you know. When you call sandy. She actually picks up the phone. It's pretty amazing sounds like someone else can now. Not just a non sandy understands that. You know where that this is a big deal and so when you have a question. Our concern. Need information. She's gonna pick up the phone that an enemy that is Asians they gave me on it Padilla and you know what's so funny about that too. I was told this story a while ago I can tell what can I. And that is I was in the situation where we had to write an offer it was a multiple offer situation and I needed something from sandy. I called her she was in the middle of the tennis game. It was 8:15. In the morning get it yet big senate vote. I got what I need it I remember in there was pretty darn amazing. So. I don't think you play tennis every day and he fifteen days and now again I'd I don't get it when it's eleven degree half. So thankful for you send in your friendship and your partnership for their team and excited about what you have shared that they she's got a lot talked about. So we've got a lot to do and again the shows about real estate. Jesse's on the board if you call here's what happens he'll pick up the phone being nice to him. I would let him know and a very brief. Description what's your question is will. We get you on the. Since. Is a little bit fresher on my mind than most. I decided to talk a little bit about downsizing. Thorough. Spotted a gun. Yes yes it is and so. We're gonna talk about that and so since I have some personal experience and that vein will talk about it and I'm sure. That Kerry will agree with me as well also. We're gonna talk about it from a market perspective on personal perspective. And some things to do may be in the near future if you're considering that. And then some changes that bacterial talk a little bit about some changes you can make to your home. That could to make. B money or maybe cost you a little monkey. With paint. Sound like a good idea. Bumped into me Aaron it sounds good start and sandy. You're gonna talk about some guidelines and stuff can't chat lines. And that process may be in. Time gotten a lot simpler I mean simple how can be simpler. It doesn't let. OK but it's not simple OK okay simpler I like that just that a little. Estrich. Hung in there okay and then some things should do after you get an approval maybe she let's talk about the FHA limits and then. Let's talk about the letter shall we we shed that had no right so. Let's just jump right on and we've got about five minutes before the break the first break so let's let's go right at it but a feel free to pick up the phone like I said and Carl will be here are 7045711. And here we go. Our. So talking about downsizing. So let's talk about why more from a market perspective inventories at an all time low. And as my grandmother used to say. Jet when they get news do it that. So that's what you need to do with the sudden you're gonna consider they get in his good direction. Yes and then sit earliest there's less of two months of inventory in many of this when the price band sectors. You need to really understand and evaluate. What it means to get ready for that market. It's a great time to capture equity and appreciation or become what we call. An intentional landlord. Won't talk about that if we have time today. It's a perfect storm right Sandy Dennis low inventory and. You wanna say your house is not a better time exactly the mayor ray served. You know and they really say anything below six yes that's when I'll say this is a pretty strong rate market and what are we float that around for four and 84 quarter get better and then there. Can turn. Do I have to asterisk decorate go with certain conditions a priority at nation actually that. I forget that sort of middle left kidney management management. OK so. Our region and here's something I've said before and if you're a new listener put this in year little bag. Is that our region right now. Is really got a large influx. Of people coming in about a 109. A day. Until they reach a love that. That's insane candidates and now. We're we're gonna put them. Please call okay. We've got. I also a unique opportunity okay. A lot of the neighborhoods. That. Has been around for. Fifteen. Plus years. Are are the transition time most of those neighborhoods if you look close set them. Kids have aged out. And there and it turned cycle. Great examples of some neighborhoods you all may know piper Glen Providence country club fired torn country club. Neighborhoods like that where when everybody moved in the kids were tiny tiny. Right now they're all gone now. So when you walk into a room and what used to be junior's room is now less storage room. You know. So there are a lot of those neighborhoods that are turning over. And I'm just gonna say from a market perspective. We talk a little bit about the timing of those. If schools are your advantage. Go on the market in March. If you're price price put replaced if your price and Surrey has ordered some Chinese are here priced below. 300000. Go to the market now right now and yeah okay you got them your gonna go quick and I. If you're not high net worth area. Let me give you a piece of advice if you're in high net worth area where the prices. I was your own the homes are over 700. To 750000. He first quarter of every year. Is win at the highest. Amount of relocations. Begin at. Corporation's. Move to their people. In that first quarter more. Then any other quarter of the year. And what I mean by that is they put them. On buying trips and so think about that it is. Also last. And you've got work to get done on your house. Just gonna take thirty days or more. Think about get it done. Now of course if you called a vendor he says he's got one time have to account for the opponent that we'll talk more after the break. This is to show you real SA today here with Cary Davidson said he chicken send and I Paula Jamison. We'll be right back here on 11109893. WB three. Well I don't know I wondered might this does song and Justin Morneau. There. Have I. Look okay. We might note that. He loses the show you real estate today welcome back folks glad you're with us here on this. Chris. Saturday here with Cindy Dickenson was some of funding of course my business partner and friend Kerry Jamison wife. Extraordinaire. With him between seven. And I have. Yours close enough. I got to the number like last year we got the number wrong last year actually so. You know I have to think for a minute. You know it's like. I'm. Sixty and hand. OK. Art so let's let's talk about properties part so anyway sandy let's start with the U. You know when we're when we were just finishing up the last time that we were talking about timing to go on the market for luxury homes were comment did you make I think that's where. I yeah I said that we've seen more gem though and a high dollar houses cannot so far it's only the fifth you know not even the fifteenth of January but over the last month. I would save more hide our houses and I've seen it on really long time. Yeah I mean this is kind of that time a year where they start movement no I didn't realize that that was due to the relocation. Camp. 7045701110. If you wanna talk to us feel free it's been awhile since we've been alive so you probably got your. Don't put away my butt. So thanks Tom. Sandy let's talk about you made a comment that guidelines may be. Changing up a little bit. And. Seems to me master yeah yeah I am getting am notifications every day. Or are sometimes a couple of times a day with with these things coming now nothing that people would probably. Know a lot about you know had a document here earnest money have a document. Mom. But is he won it today that and it's not necessary new guideline that the easing on it. If you're self employed less than two years. And you have experience and youth you know we have a good one year by up under your belt with a tax returns. We can do that conventional grew how we can do it FHA cell. Yeah this lung is some if you've been in that business are you went from. Con you know from WTO to contract something like that as long as it makes sense maybe have the same book of business. We can do this without enough for two years tax return now and it here and in self employed five years. And looks like your business has been increasing we don't have to get business returns. I'll places it's not. Oh. Goodness. Do you know how many trees that will say no let ads had some that is then. Almost a foot. Hi in paperwork. That many people have more shouldn't talk about me. Officials fun yeah yeah. There was a lot of paper. Yeah. Sandy came over with a trailer that it's just throw my documents. So. So sandy. The other the other day. You told me something and and and I guess I just wanna ask you would again because I wanna make sure I really heard you correctly. OK. You said. That you can in some instances. Pastor. Do. Alone without an appraisal. Yeah where employment yet that she just say that she I says that we recording that's what we are Jesse we're recording protect her. How can that pre. It's some it's it's only conventional right now. And down it literally rent through the automated underwriting portals of Fannie Mae or Freddie Mac which is the big conventional buyers. If they interact but the address and it say perceived that the value is there based on there. Alvarez some of value for that addressed some reasons are little more than a night isn't an election. Then now. Within nine at a slam purchases. Unless some money down and and refinances and not investment properties but on the way the appraisal requirements. Best you can to do true I'm I feel like crying and it saves time assays money oh my gosh and B do you. Dead dead be awesome asked and we love only get it. A sometimes of buyers up to get one anyway but not very often. Are OK let's let's get our loan approval and spend an extra six or 700 testify. Yeah a. Okay. All right well. That makes sense than that make you happy. Gary. Yeah I knew when I knew it was my. I have been on the campaign. Hey this is what I just thought you did did what did you snort Mikey said he had you know radio I did not alert the. I'm not the end of financial Waxman accuracy Morgan. Currently I'm never worried middle of the Hilton. All right. OK so. One other thing I wanna ask you I wanna make sure we've got about. Four minutes till the break isn't so hard brick I think it is yeah okay so I have to pay attention. Bad. At the time of approval. Tim this is one thing. That I talked to clients about but I'm it has happened. Once that final. Cool. I have an approval yeah. He's supposed to go out. And tie up any more money now we will find out about it that they do you won't be happy because we've got to verify whatever new debt. Whatever inquiry and you're even if you liking it can if you set up your electricity. Is it inspiring your land we have to. Researching it and update the credit report verifying that they noted menu debt was. Was accumulated. It to the inquiry so you have to be super careful. We may check your money. We don't typically that sometimes they ask for bank statement at the and keep everything's status quo don't quit two jobs. That. How long after the house closest and they go out and they wanna buy some furniture they want and need to buy a car how long since it's recorded at the cart path okay Eric. That's the reason I brought this up there was there was a situation where. Client was buying a house from me and was also buying a mountain house. All of that was up from everything. Was on the level they knew his Bryant mountain house she qualified for both. Where he went wrong was his wife went out a few days before we closed. And bought. Furniture on the American Express card like Tony thousand dollars worth for the mountain house. Yes that's that's it that's a rough grow Astro looked. Don't I don't want two weeks to week yes 'cause it had to be paid off. Denny had to wait for verification of the pay off then had to go back through underwriting again. Or wish they don't care. He told here that you know. You credits never as good as it is from noon until right there diplomat unrealistic and another jumps your credit score and relatively good Catholic. Well. I think that's the caution we try to tell people don't go out and extend your credit don't go out and do things just wait. That furniture will be there just wait and give it just a little bit more time until you get that thing recorder and makes a big difference. And don't take IE money out of your accountant couldn't say say you won't spend. Money. Can't take a picture of descendant Diana riding if big guys out in got to start dollar was verifying that you have it he said do you said sometimes when people do stuff they shouldn't have done they go quiet. He asked sell and it's not even that they shouldn't have done if they if they if they notice a problem are they perceive a problem. All the sudden they quit cock into me or they get angry with me. I'll I wanna know is what's going on so I can help them navigate through the problem and Nam in that I just don't get calls back or they're. Their panic king. And they don't even know what the ramifications of the fixes so I would say definitely staying constant communication with your loan officer. If you think there's an issue especially if they're saying because she broke call you back. Al rookie child different DA you have to get a restraining that's right. He's not on Iraq where it commitment that it. It does come out of my mouth and we'll have a blessing. And a it was really it came out really quick and content. I'm sorry about that and I thought that. Bad lower but I don't know where there isn't sure creature that's pretty tough there merely carry Davison. They need to consider myself hall Jamieson who did not talking about fun stuff like realist 704. 5701110. If you wanna join in 70457. Oh. Eleventh then we're here to talk reviewed them that live in a while but we're here to have fun we'll be right back on 1110993. WB twos. Little air guitar action going on in the studio today yeah. Day saying. So here we are the show your real estate today if you're just tuning in I'm Paul Jamison Jamison realty with Keller Williams and Jamison. Property management your host here with Kerry Jamison. My wife and business partner as well arrows. Sandy Dickenson partner Tim Jamison realty with summit funding extraordinary. I understand the extraordinary public. LLC. The. Incorporate it see it first UPD. FA RK kitty it senator. OK so. We're talking a little bit about funding and lending and and downsizing. You know. I think they're just comes a time for more of a personal perspective. Things. Take on a different shape right wants the kids are grown do you look in this is downsizing or did from a market perspective now from a little bit of a personal perspective if you're thinking these things like I am because of the demographic of the station is pretty close to the Democrat of meek. Yard work. Jets have been exhausted. From Birmingham there really does. And I said something earlier about the fact that. I was ambitious enough to one yard that I can cut with a personal search but that didn't quite work out. And now they're moving on a little more than if unchecked. All right. You know. Sometimes the neighborhood. Pitcher in as it turns over really no longer matches. You're social needs. That wasn't the reason why we've moved but I have heard from a lot of folks that have downsized. That you know. Additional lease couples now in here with little kids we don't have little kids anymore so we know all of our friends have moved out. And downsized. So. They want to downsize to. Sometimes I hear this statement. I'm tired clay and that darn thing. Yet that she really huge how do you. Half percent that do generally I've toilet three kidding me let him. Well okay sometimes people just want a change of scenery. Or you know there's health changes the these are charter climb in those steps every. I'd grown up and down and up and down and up and down. My concern are subject to break okay we're. The center ready for the next season of their life. And sometimes you just wanna be Kosher to family. Correct yes your we did a lot of and wanna try out of that brought them home so that's a good thing too. You know sandy. You said some to me earlier which again surprised me you said sometimes when people downsize. The lender. And Cinderella and her. Gas so if if if they want hopes to wait in picks up their house and sell at the lend their current residents. And they're buying the other one before that bigger ones cells. Com we ask them to do motivation letter. Mess to wise they're downsizing or why they're buying less of a house and getting less of a mortgage. Because they're the concern is that their purchasing it as a rent time they're not really gonna move until it. I've that was an issue that we had in past so. On now we we just have my idol letter that makes sense sometimes we just got a listing agreement if it's on the market. They just want verification that it's actually going to be their primary residence. So it's kind of like pierce and a exactly. I would like to no longer climbed the steps and cut the grass. And take care of the bolts and paint and fix the water out and do all the things that come along with the current house set I meant. So Santa if you allow me to buy a smaller house with the minister on the main so that I mean he's no longer hurt and I become happier and I don't have to carry my laundry upstairs. I will buy it thank Q. CU on Christmas that Cindy. I don't landfall as a cover letter and slammed basically what are you now have and yen planning to sell my house and you are you are. Don't wanna read that letter every hour with no water. Real fraction plant that I cannot and I can feel the sweat from all elves and Santa coming threats seriously Anderson. Please give me and flexible mortgage that's amortized over 500 years dear can't. Through it okay. All right so. Let's move in to do. What happens if you're ready to downsize. And it. You're looking at dornin now or in the near future so. Earlier today when I heard Kerry and I we're talking. Because she helps families with the staging in their home and rearranging things to be more appealing and and now there are creating. The opportunity for the buyer to see the whole not their stuff. I'm paint colors. Have a definite effect on the amount of money you can get. Don't day can. Yes can you share. A little bit about some of the positives and negatives of paint come. Okay in this info is from room with her dot com. Some Estrich footnote tester. That the bathroom. If you paint it's a blue gray. We'll increase and I you. To 5440. Dollars gnome it'll increase nobody crime more I'm more the came out your home won't be just worth 5000 net. It. No doubt yeah. That's right it's all right we got you okay dining room blue gray who doesn't 1926. To the good. Did get it to the go to yes I. These Jerel to dig at first the good first I would only good for yet bedroom blue gray 1856. Dollar tussling 1056. And half. Living room blue gray 1809. Dollars yeah. Exterior grade 1526. Dollars. Front door gray 1514. Dollars. So did I see a trend here that there's. We get any other Keller. They get the millennial like rank and yeah you know you love you know and I and again there's that Sherwin-Williams color what is it. Going you like it though and snowflake. Now I I don't. And now knowingly lying there there isn't a color called texting neither. I'm a very able very agreeable gray cats at Ehrlich. There were no it's one of the most popular colors on him to paint up worm and I like it because it gets our clients more money. So and so can can color have a negative. Impact can't tell me about that chair for you to your mayor your bedroom. To drive. If it's a pink tone from her. Probably colonel spectrum in 200 need dollars negative. Negative okay I was in the house today that had a pink bedroom on one mall that was the accent won't unharmed and the other role was true of course. I hit it. Okay here where I should have taken a picture of course I couldn't assure you all on the air. But if you calming 70457. Or eleventh and I'll talking to your more about it because I grew up next. Okay kitchen if it's yellow moon. 820 dollars negative yellow band but that's the color of the suns. You don't eat the son you know only 26% of the population. Like Sheila. Talent Chela okay we're. You I like yellow when I was a teenager correct effort but you're right wanna hear it at 46%. To us that but I'm not gonna pay my kitchen neck and Erica hill all right the they're gonna hurt what else exterior. Com brown boost okay 1970. No Maginnis who. I don't know. There will call mr. rear but of course I'm not asking I'm not Amylin a huge ask of you out I'm with the dining room if their reds are red tones. 2000. 31 dollars negative who laugh and that was really popular. Well just paint it kind of are spread. No wonder I got 2000 hours or Ford brought it hardly ever right. Some bathrooms. And just white. Get this. 4039. Dollars may again tenth I'm. Or a T and T did. There's and I that well that's what I I've. Ever been having five Betty or her prime better than how I know about the efforts of. The offense look good different show on that went and that we can't flush that out now on our show but there are multiple so. So an all white bathroom you lose 4035. Dollars. Eskimo Lohan and you know it's interesting because paint and paint color. Can make a tremendous impact on. The sale tomorrow. It's inexpensive and it's it's easy to do. It's inexpensive and you pick their regular. Companion barred him say that. Because we do is hatter house payment and they did a fabulous job but the two colors that we agreed on. Well then when I put them on the law ailing put him in one area. And well actually then the blue gray he thought was not. Light enough so I went in found what I thought was a lighter blue gray. Inch didn't they painted our master bedroom. It was almost completed and I walking in to get my charger for my computer. And all it's cruel to me it's not his grades K. So so what are you recommending if someone is about to paint. And they've gotten the colors that fit with the style of home that the fire would like cats and their that grouping. I suggest hood most certainly put it on a lot more walls. To codes. And that's what I did I mean I ended up going out. And finding I actually the first blue gray that I found Madeleine back to surely m.s and I had them do it 50%. Lighter. And I put it in different areas of the house and I absolutely loved it and I am pro rails. Super thrilled to cover looks like agreeable greatest Nellie doesn't. What about a so grant and trail is white white white white white. Idea pops off the color so yes and didn't even in the bathroom. Yes that looks for our. How how I could say some funny about the openly. Try to show you real estate today here on news talk 1110993. WB do you stay when this will be right back. It shows your really stay there. I'm glad you let us thank you so much and well coming up to the final segment or have a good time here with. Kerry Jamieson my business partner in our home staging. Consulting expert as well as with sandy Dickenson was some of funding. Our loan partner and loan officer extraordinaire. How's that for an introduction like that and what and I flew air. Yes and a north. LLC the TM trademark protect itself. I would like to talk to you a little bit about from some things to do. Take what you wanna leave the rest of this doesn't apply to everybody but that's okay. And again from somebody that just went through it. I did some of these didn't do some of these did some well did not do others well and I'm not gonna tell you which warrant for. I sold my house and amend my downsized so they ago. Okay. First of all for how I did this when will contacted her realtor he can't. I talked to myself. And let them more walk and talk through your house and actually. Because it was my own home I'll go ahead and fest this up I contacted friends of mine as well and had them walk through my home. Because I wanted them to see it. And not just through my eyes were that we do live there. And I mean there's we're doing 1819 years into you yet friends that were really church that we cuts that's from me yeah OK yeah I had realtors they came through. Thanks I'm appreciate that good that came through and they gave us honest feedback and that was that was helpful in what helped you grew stronger. So what are you want the real turn to walk her for we want them to see it through the eyes of a buyer. And sometimes we ask you to go win this and sometimes we just walked in alone. Like they were like a forward without any kind of communication so we can look at things. You need another value right you wanna benchmark now I'm not garner praise or not a licensed appraiser. But I can I do have a good night's sleep last. And I know how to help you priced home and in some cases we even ask for an outside a personal but we work and use data. To help. Come up with a back. Parent. So. One of the things you need to certainly think about in that time our colors then you need to think about furnishings. We need to talk about messaging. And understanding that. We want the house to be the buyer's house. And it no longer becomes your house. And in some instances. I'm just gonna tell you straight. It's better. To have the house empty. If you're not willing to stage literature stuff is all stuff that you may have gotten from Graham mall that you love. And we're trying to sell the home to an upcoming generation. Some houses really look better empty. I know it's odd to say but it's really true. Think you can still play it. Things in the back transit nice fresh fluffy towels some greenery green weariness in in the kitchen and into on the mantle's right but you know. There're there are houses out there were like that living armor you walking and where nobody shuts you know on the right then you've got all your program small holes from a stuffed it looks at that. Most people. Immediately walk inning go gosh this house is gonna be out of date. That's the first impression when they walk in the door. And I'll say. I've got a house get ready to come on the market with some really good friends of ours and our great client server Matthews in the Providence school districts and cal forward will be joining. Home place. That home she has some things that were fan where loans and that right living or must it take amount. Put him in the garage you can use that as a clearing area that's a safe area I don't want that first impression to be oh. This place is not a day. And it very well may not be but remember that first fifteen seconds this critical. So something to think about as something to think through the other thing is a lot of people let their termite bond collapsed. Where they don't have a termite company. Come. And check the home for term it you know what. For call Marty IV 3341616. Have him come over I think it's a hundred boxer. The most 110 bucks depending on the size your home. Have him do a termite inspection and make sure you don't have termites. And I tea what's so why does a lot of people stack up stuff from their garage up against the wall. Can we met a couple were getting ready to sell their homes in the town home. And they they had a renter in there that had all the boxes that they used in that in any time and stored in the garage against the world. And I'm standing there within my look over there and I ago. There's termite tubes corn crop the us side of that garage. Because they never saw them they never knew they didn't have a termite bond them. And they can't take your hat and a can turn so have an inspection and also think about a pre inspection. You know are oppressed and Salem home inspection Carolina. Have him come over and do our pre inspection if he hadn't been in your crawl space Earl in a while or if you know there are some issues with the home. Have a pre inspection done and take care of those items before you go on the market. It's money. Well spent in OK and there are experts that say. Don't put stuff in storage if you can win your downsizing. I understand that. I get that. May leave. Rationally agree with that. 'cause. It's hard to get it out when she is that it should. You know they talked about you know how some people have stuff in storage and spend and 500 dollars a month for stuff they'll never used never come back in the house again and. And if anyone is storage or she knew I think that once a month when the bill comes right. Extraordinary yeah I mean I. So. Something that he needs to be taught about and maybe you'll do a better job than me protect. Find a clearing the area. I call at the garage. And all the things at once you meet with Carrie say and she says you need to move this furniture this furniture this furniture this furniture do these things. Put those things in the clearing area in the garage or if you are thinning out put everything in the garage go through it one time together. Bat and then from the garage or whatever clearing area or your kid's room. Changed. Wherever that area is sort through the air make it easier on yourself and then get rid of the stuff. Then. One of the won the last motivations. Of downsizing. Is creating an environment. Where your kids camp moved back yeah this. Oh hello so if you're thinking about downsizing. You can always think about that. Sandy thanks for being with me I didn't give back live community here. Karrie thanks for joining me thinks France great to have you. And now we're glad that your where you're back where this. On the show I think we're live again next week yeah. So give us college Jamison who's standing how to people get in touch with you. Making coming at seven I'm far 7701. Par four. Time seven sevenths or want for force some of funding from Carlos and Jamison 846 dollar. 846. 3663. Take care countless.