Real Estate Happy Hour Show - Episode 39
Watch the Real Estate Happy Hour Show - Episode 39
Live from Key West, Florida where it’s Happy Hour 24 hours a day, it’s time for The Real Estate Happy Hour Show. On today’s show Collier Swecker and Realtor Friends are talking about all things real estate and what is going on in real estate markets all across the nation! Collier is joined by national real estate experts, Lisa Forss from Temecula California, Lisa Treu from Delray Beach Florida, Tiffany Lachnidt from Colorado Springs Colorado, Scott Martin from Colorado Springs Colorado and the one and only Tara Limbird from Bentonville Arkansas. Join us every Thursday at 4pm for the live show on Facebook Live or watch or listen to the Real Estate Happy Hour on replay or podcast.
If you want more information about Collier's guests you can visit them on their websites:
Lisa Forss: http://www.TeamForss.com
Lisa Treu: http://www.TreuGroup.com
Tiffany Lachnidt: http://www.TheDistinctiveGroup.com
Scott Martin: http://www.TheDistinctiveGroup.com
Tara Limbird: http://www.LimbirdTeam.com
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Collier: Hello! Welcome to the Real Estate Happy Hour! It is 4 o’ clock in Alabama you know what time that means, it’s time for the Real Estate Happy Hour! Hey, we’re not in Birmingham today we are live in Key West, Florida! Hey, hope y’all enjoying the cold and we’re just excited to be here. Hey Tambra! How are you? I got your message today by the way, I know you’re doing well, David’s sick today so he’s a little under the weather, hey Mr. Arnett hope you’re doing well I hope you’re feeling better than David, David’s a little under the weather today so it’s just me, we’re gonna hi, come in! Oh, it hey, if you’re cold it’s not cold here and you know that, we’re down by a marina right down here near, if you come on a cruise you know where we are, we’re right near the marina right there near Margaritaville and all that,but hope everybody’s having an awesome day! We are down here to talk real estate with some of the best agents in the country down here, so we’re excited about that but hey, we’re not here to talk about just that, we’re here to talk about what’s going on, good thing with interest rates, interest rates kinda have stayed the same this week and right there in that 4.75, David would give you a more exact number, but it’s right in there about a 4.75, a 4.875 that kinda thing, so that’s good on interest rates I tell you what though, one of the biggest things with rates as we into the, the end of the year here, it’ll be interesting to see we talk about it every week, talking about the Fed, what’s the Fed gonna do!? If Trump doesn’t take ‘em up, will he go ahead and just keep rates where they are, so we can get this home, the market booming again? And moving along smoothly so.
I wanted to also chat with you a little bit about you know, we’re in a varied situation where we’re seeing a lot of competitive offers and you know, one thing that we’re worried about is are these appraisers gonna keep up so you know, think about when you’re, you’re making these offers, making sure you throw great terms in there, like hey, what’s closing day? Do you really need that home warranty? Certain things that are ancillary making sure that you, you write the offer not just in terms of price and those type things so, that’s gonna be a real big deal as well so, what I wanted to do here is I want to bring in some guys from around the country and say let me see if I can get ‘em here, they’re over here I think, this’ll be interesting. Hey Tara! And bring Kathy with ya! All right, getting some of my buddies over here, this is, this is gonna be Tara Limbird!
Collier: There you are!
Tara: Hello Facebook land!
Collier: Yeah Tara, tell everybody where you are from and what you do.
Tara: I have, I’m from Massachusetts I’m sure you can tell by my.
Collier: Yeah right!
Tara: Accent, I work in Arkansas, Northwest Arkansas, home of Walmart, that’s our claim to fame!
Collier: Yeah so you’re, you served the Walmart market essentially.
Tara: That’s right yeah! And everything that’s sold in Walmart so, which is pretty much anything and everything that you can ever think of in the entire world so.
Collier: And how many houses did you sell last year?
Tara: We sold right at 500 homes.
Collier: 500 homes!
Tara: Yeah, that’s what we’re looking to do again this year so.
Collier: That is crazy!
Tara: A house a day and a house and a half so.
Collier: An interesting.
Tara: We sell a half a house.
Collier: You can’t sell half a house, no.
Collier: Interesting fact, Tara you actually lived in Birmingham.
Tara: I did! For just a very short while back in like 2000 maybe? Over by the Galleria mall.
Collier: Yes! The Galleria where, where we’re having some issues right now but.
Tara: Yes! What, do you know what’s the name of my apartment complex?
Collier: The, the Crowne, Crowne at Galleria Woods?
Tara: Yes I think that was it, there was a Murphy bed, you felt, that folded outta a wall, which was really cool so, you never had to worry about making your bed just took it and threw it up in the wall.
Collier: Oh, oh trat, what do they call those? Murphy bed I think.
Tara: Yeah, that was like the best thing ever.
Tara: I never had to make my bed ever again so.
Collier: Tambra, Tambra said Tara that is amazing!
Tara: Oh yeah!
Collier: No, what, what is really amazing.
Collier: Is that she’s, I’ve known Tara for a lot of years now and she, she’s a, you’re just so authentic, you’re you!
Tara: Yeah well, it is what it is, so like it or not I can’t do much about it so (laughter).
Tara: I’ve tried with my Canadian and Massachusetts accent but....
Collier: It won’t work!
Tara: It’s not working!
Collier: All right, well.
Tara: Come say hi to Lisa!
Collier: Lisa Treu!
Tara: It’s her birthday!
Lisa Treu: It’s my birthday.
Collier: Yeah now, Lisa where are you from?
Lisa Treu: Florida, I’m actually.
Collier: Well that’s a big state.
Lisa Treu: I know.
Lisa Treu: I’m 4 hours from where we are right now, so Palm Beach County, so we’re in paradise Key West right?
Tara: Right, yeah.
Lisa Treu: Nice!
Collier: Great, she said, Tambra said been there, that’s what works, be no, be you that’s what works.
Tara: Oh yeah.
Collier: Talking to you.
Tara: Well listen, I don’t have a lot of options here so.
Collier: That’s right.
Tara: Another Lisa.
Lisa Treu: Another Lisa.
Tara: The 2 Lisas.
Collier: That’s right Lisa Forss, where are you from?
Lisa Forss: Woo! Hi everybody! How are you?
Tara: Wine country!
Lisa Forss: I’m from Temecula, California, wine country!
Lisa Forss: Southern California.
Collier: That’s right and wow, tell everybody your average sales price where you are.
Lisa Forss: Oh, 4.85-ish.
Collier: Ha! 4.85, that’s crazy!
Lisa Forss: Ish yeah, ours is like 3.50 right now.
Tara: What’s Birmingham?
Collier: Yeah, Birmingham is closer to 1.80.
Collier: You know somewhere around there, what are y’all?
Lisa Treu: We’re, we’re, we’re uptown, we’re like 2.25.
Collier: Yeah, look at ya.
Tara: take that Birmingham!
Tara: Yeaah! (In unison with Collier).
Lisa Forss: Birmingham is Beautiful!
Lisa Treu: It is pretty.
Tara: Ain’t that where Courtney Cox is from?
Collier: She’s from the rich part of town though.
Tara: Mount Hoover!
Collier: Mountain Brook.
Tara: Mountain Brook, that’s right yeah.
Collier: The Kingdom as we call it.
Tara: Oh yes! Yeah, the fancy part of Birmingham.
Lisa Forss: Where’s your, where’s your lender, where’s your lender partner today?
Collier: He is under the weather!
Lisa Forss: Aww (in unison with Lisa Treu and Tara).
Collier: He is sick today, so I had to bring my friends down, what do y’all say is the number one issue with, for buyers and sellers in this market?
Tara: Oh man.
Collier: What’s one thing they need to be worried about?
Lisa Forss: So sellers, the biggest thing for sellers is they need to price their house right.
Lisa Forss: Straight outta the gate.
Lisa Forss: Don’t chase the market down, think about it, think about your mortgage, think about what’s happening out of your expenses each month and price it right outta the gate.
Lisa Treu: Yeah and I think buyers, the mistake we’re seeing right now is they’re not getting a great lender and they’re with all these kind of unusual you know, conditions and they’re losing out ‘cause in our market we’re still seeing some multiple offers with buyers so, you gotta have the great lender, you have to put a strong offer together and.
Collier: When you say that you know, I was talking right before I brought y’all over about the fact we’re in a situation where we need to be making sure that offer’s crafted so, it’s not just about money right?
Lisa Treu: Yeah right.
Collier: It needs to be these conditions.
Lisa Treu: It’s a letter, it’s the, it’s the story, it’s the story behind that buyer especially if you’re in multiple offer situations, in Southern California we have that but, it’s not near as problematic as I can my B in South Florida so, for us it’s not, it’s in a hot market the, making sure that (inaudible) on a row with your lender are a vital, but also that story like call your saying the story you tell about your buyer, like the buyer writing the letter themselves.
Lisa Forss: Yes.
Lisa Treu: Saying how much they love the home and why they love the home, I mean that goes a long way with most of our sellers and even how you behave during the showing so, if the seller is there being nice.
Lisa Forss: Or cameras or video.
Tara: Oh yeah.
Lisa Treu: Yeah! Be nice to that seller because sometimes sellers will root for that buyer you know, they want that buyer to get the house because of the story.
Lisa Forss: And it might be even a lesser offer.
Lisa Treu: Yeah.
Lisa Forss: No doubt!
Collier: Lisa, what about you?
Lisa Forss: Well my prediction is, nobody will say this but, my prediction is in 2018 will go back it’s hard to tell what kind of market you’re in until is, you’re not in that anymore.
Tara: My prediction is.
Collier: Ain’t that the truth?
Tara: Yeah, my prediction is.
Lisa Forss: You don’t know you hit the bottom until you’re on your way up.
Tara: Yes, my prediction is 2018 will loo k back as in that was the shift.
Lisa Forss: 19? 19 you mean?
Lisa Forss: Oh.
Tara: I think it’s already happening.
Lisa Forss: Oh.
Tara: Like at least in our market, oops I run my credit card but that’s ok!
Collier: Oh dear.
Tara: Yeah, I think 2018 began the shift in.
Lisa Forss: Oh.
Tara: When I look back, in some houses that we have listed back when the market was, was shifting, it’s like you come out rising and rising so you not chase the market down, we had a house, a buy, a seller who priced his house at 575 thousand dollars, it took us 3 years to sell his house and when we sold it, we sold it for 325.
Tara: If he started thinking like if honestly he thought ahead, he’d just priced it at maybe 500 which still would’ve sucked to have sold it.
Tara: At 75 grand less than you were expecting but, you would’ve maybe gotten multiple offers and sold it quickly versus chasing that market down so, I think, I think we’re in a market shift we’re not really sure what the reason is yet, what, why.
Collier: Right, right.
Tara: Why we’re gonna figure it out later?
Collier: But you’re still selling 500 houses.
Tara: Yeah, but.
Collier: Which is, which is well and that’s a good point that houses still move right?
Tara: Right yeah, that’s the thing like we’ve been in the real estate business now when the market was at its peak and when it was at its worst and what we still realize is people still have a chance of somewhere to live so, it’s just a matter of how you play the game.
Collier: Oh, you have any advice for ‘em Scott?
Scott: Well, what was, I didn’t catch the original question.
Collier: We’re talking about what, something, an issue that’s out there for buyers or sellers right now, that you’re seeing in your market that maybe everybody will be seeing as we go forward here.
Scott: Ok well so, I’m in Colorado and I’ve been hearing it in various, various in US as well that you know, we have had a bit of correction.
Scott: You know, last few months.
Scott: We’ve had you know, unsustainable appreciation rates last few years we’ve seen that in, certainly in our market in Colorado Springs but you know, across the nation.
Collier: And you’re saying too, that goes with income not going at the same speed as the.
Scott: Oh right, right so we’ve seen net on the median home price, we’ve seen 10% appreciation rates in some cases and that, there’s no way that’s sustainable were you haven’t seen that kind of appreciation.
Tara: There’s not 10% increase in, in count.
Scott: In in count right, right so eventually.
Collier: That’s fascinating.
Scott: You know, you know, you know, there’s a ceiling that’s reached.
Tara: Catches us.
Scott: On the price of homes for what buyers, buyers set the price of homes, sellers always wanna price their homes.
Scott: At whatever it is, but it may take 6 months for them to come back to reality so, I think it’s a little bit more reality setting in and it’s our job as agents to inform them and they may not wanna hear it especially when things are still you know, we’re, we’re still peaking in price point.
Tara: That’s True!
Collier: That’s right.
Scott: It’s a hard message to deliver that you know really, you know you’re not gonna get another ten grand over your neighbor that.
Collier: Yeah! (laughter).
Scott: Just sold last week!
Collier: And it was bigger right?
Tara: Yeah! (laughter).
Scott: Right and it was bigger and it, it had granite counter tops or whatever it was but so, we’re seeing quite a few people come back to us that didn’t sell in the last 6 months and they’re like what do we really need to do?
Collier: They’re getting to the brass tacks of what needs to be done.
Scott: They are, they are and they wanna be in XYRC, they wanna move down to Florida, which is where we are now.
Scott: Or they wanna, they wanna be near the grandkids or wherever it is.
Collier: That’s a pretty strong pull right?
Scott: Yeah, this is what it’s gonna take to get it.
Collier: One question, somebody asked a question about lenders and how, obviously David Arnett is the lender that you need to see but.
Collier: (Laughter), but.
Tara: I’m kidding now.
Collier: What are the questions you need to be asking to get, to find a good lender who, what, what makes a good lender? I guess I’ll paraphrase the question.
Tara: Well, I think it’s not always, I think we’re, lot of people don’t know what questions to ask, so all they ask is what’s the interest rate.
Tara: It’s like you know, that’s like a seller asking an agent what’s your commission they charge that’s not the only question to ask, but it’s only question we’ve been trained to ask so, with this, with the lender it’s not just what the interest rate is, but it’s like what are their other fees and what kind of customer service ‘cause it doesn’t matter if you get the best interest rate or best fees, you get down to closing and all of a sudden you can’t close on time and you got your moving truck out front and all that and then lot of those other things are not gonna mean this much to you.
Lisa Forss: And I think like even with (inaudible) you gotta, I mean the thing is it doesn’t matter who you’re asking on whatever lender you’re using and Dave is like the best in the business, so for us it’s, you, doesn’t matter what you do but you’re gonna ask that lender things like I don’t know, don’t ask for interest rate you ask for their APR, what’s your, what is the, what is the actual with all your costs and everything included.
Collier: Total cost right?
Lisa Forss: Yeah, your total cost included not just your, your actual interest rate because that’s just a small portion of it, in our market in Southern California it’s, it’s very different than a lot of the markets in the United States, I know we’re like I don’t wanna call it our little bubble but, it is a little bit of a bubble like even in Southern California we have Escrow they don’t even have that in Northern California, it’s, we’re so different on everything so.
Lisa Treu: This isn’t TMZ, we’re on Facebook live.
Lisa Forss: It’s better than TMZ (in unison with Tara).
Collier: You’re on Facebook? You’re on the Real Estate Happy Hour Show!
Tara: TMZ (laughter).
Lisa Forss: We’re on the Arnett-Swecker show!
Collier: Yeah! (in unison with Tara).
Scott: Are we supposed to?
Collier: Hey, it’s 4 o’ clock on Thursday! It’s time for the Happy Hour!
Tara: Yeah, I think we’re happy houring.
Collier: Woooo! Yeah ‘cause we’re kind of a big deal.
Tara: And we started talking about all.
Lisa Forss: Because he’s not having a happy hour, we’re having it for him!
Collier: That’s right ‘cause I’m outta here!
Collier: Ha! Was that Tiffany? They’re together by the way, they’re a team.
Lisa Forss: In Colorado, a team.
Tiffany: Oh my god, thanks.
Collier: Just so that people didn’t think that you know.
Tara: That she’s just some random girl walking out here, yeah.
Collier: Yeah, yeah, that’s right.
Tiffany: I’m surprised you guys have a video live that’s happening.
Lisa Forss: But honestly.
Collier: Hey you know what’s really funny? I’m gonna go ahead and tag her, somehow Facebook just said do you wanna tag Tiffany?
Tara: Oh! (in unison with Lisa Treu and Lisa Forss).
Tiffany: Oh my gosh, that’s freaky.
Scott: Wow! Look at that, it know you!
Lisa Forss. Facebook is way too smart.
Collier: Look at that.
Tara: And Tiffany’s really popular! (laughter).
Collier: That is cra, that is crazy!
Tara: (Laughter in unison with Tiffany).
Collier: It recognized your face.
Lisa Forss: It’s like they only laugh with you, that would be amazing.
Collier: And the birthday girl.
Lisa Treu: That’s cute.
Collier: Well we’re gonna get ready to go, but thank you guys for coming!
Tara: Has it already been an hour?
Collier: Well not quite.
Collier: But we’re gonna, we’re gonna wrap it up.
Lisa Forss: We’re gonna finish our happy on the other hour!
Collier: That’s right.
Tara: (Laughter in unison with Tiffany and Lisa Forss).
Collier: All right guys, thanks so much!
Tara: Bye beefy Collier!
Lisa Treu: Bye!
Lisa Forss: Bye!
Collier: See ya!
Lisa Forss: Now you know what’s happening in all the world!
Collier: That’s right!
Lisa Forss: Coast to coast!
Collier: The real world! They have houses that are worth half a million dollars!
Lisa Forss: (Laughter in unison with Tiffany, Lisa Treu and Tara).
Collier: We have houses with wheels!
Lisa Forss: Have a nice week!
Collier: Y’all do too! All right guys well, I just wanted to thank everybody for stopping by on the Happy Hour this week! No football picks because well football season, by the way thanks Tambra! I’ll take I know army navies this week, I’ll take Army will beat Navy this week and so, David you get Navy if you’re listening but anyway. All right we’ll be back next Thursday at 4 o’ clock sharp, unless David has a basketball game 4 to 7 then we’ll be at 3 but, hey really supposed to be at 4 so anyway, hope you all have a great week and we will see you next week! All right till next time see you later! Bye Bye!