Barb Schlinker The Real Estate Voice

Sometimes people have to sell a Rental home, what are some of the things they should be prepared for?1.First, with the recent Covid Pandemic, there were some Federal and State tenants rights in place that protected tenants from eviction for 30 days after failing to pay - in that the landlord had to give 30 day notice to quit or pay rent where as the state law is typically 10 days.●Those moratoriums ended in for both Federal and State on August 25●If a landlord has a tenant who is not performing they can go through the normal eviction process.2. One of the top questions I get from landlords hoping to sell a rental is whether or not they should sell it with the tenant in place.●Although most landlords do not prefer to have to pay the expenses of a property without having rental income…in most cases selling and showing a home with a tenant there does not go well and here is why:○Tenants don’t want to leave therefore they are reluctant to allow showings and even more reluctant to have it look good during showings

Of the many emotional and financial challenges with a divorce, dealing with the real estate part of it can be daunting. What are the things homeowners need to know about the house, the mortgage and taxes when facing a Divorce?  #1 – Get some non-emotional trusted advisors around you●If a lawyer is involved sometimes the divorce decree dictates what happens to the real estate.●In most cases its straight forward, but you need someone to evaluate:○The home’s value○How you hold title○What will happen with the proceeds when it sells○The strategy of what happens next, will you buy another home, will you rent, are you moving away, etc.#2 The Four Basic Options●You have 4 basic options in the midst of a divorce as it relates to real estate:○Sell the house and divide up the proceeds per the divorce decree○Buy out your spouse○Have your spouse buy you out of the home○Retain ownership#3 If you have to sell and want to buy another house, check affordability first●Market values are increasing like crazy●In the past 3 month

Barb, the August real estate market numbers are out and this market is RED Hot, Tell about the trends you are seeing…o   Two Strong Indicators for August:o   Available Inventory down by 51% from 1 Year Ago● Typically we are seeing over 2000 available homes on the    market at this time● Currently only 1079 Single Family Homes available in El Paso Teller & Elbert CountiesTotal Number of Homes that Went Under Contract UP by 22%Average Days on Market = 19 DaysAverage & Median Price Increased in Just 2 months!August Results:Month Supply = # of Months to Sell all Inventory by Price RangeBuyers:  Make great offers…Last week: Price $359,999, Offer $340,000, lowered price to $349,999Got a full price offer and $340K buyer lost outSellers:  Respond to Market Trends…●More than 10 showings – no offers – Priced too High●Make sure your home is NOT DATED – if so price accordingly or updateo   Just cosmetics:●Mis match appliances●Kitchen Counters●Tired Flooring●Gold Hardware●Gold Light Fixtureso   Just listed a home

Barb one of the biggest challenges for home sellers is the classic Real Estate Catch 22 – Having a House to Sell Before They Buy Their Next Home, what are some things a home seller can do to make it easier on themselves?1.   The Real Estate Dilemma is TWO FOLD:Need their net proceeds from the sale to buy andFear that if we sell their home too fast they will be rendered in a temporary housing situationNeither one are great2.   Needing the Net Proceeds?Option 1: Sell the Home! Or at least get it Under Contract – Home Sellers of homes they want to buy are much more likely to accept a Contingent Home Sale when their home already has a buyer…Option 2: What if the You have NOT lined up a Destination? We can put contract protections in place to give the Seller an “OUT” for at least 10 days while we shop I’ve seen some home sellers rent a home waiting for their to be builtThat is actually a bit less stressful than trying to time the market Option 3: To make an offer on a home Contingent on Your Home Seller –Most risk

Home sellers planning to put their homes on the market often ask how to prepare.  What are some of the 27 Fast and Easy Fix Ups to Get the Best Price for Your Colorado Springs Area Home?➢ There are some simple things you can do to get ready.●Start with Curb Appeal – Buyers DO Judge a Home By it Outside appeal!●Mulch beds, mail box, grass or rock, paint front door➢  If you are living in the home when selling…Clutter is the #1 IssueWe have a team in place that can and does help with that.➢Sometimes there are very small changes that can make a big difference.○I just sold this home in the Farm…○Beautiful home great views backed to open space.○They had it listed with another agent for 4 months and only had 4 showings!!  It should 4-6 a week!○We made some staging changes, updated the photos○We had 6 showings in a week and I sold it in 8 days for cash!We are talking Barb about the27 Fast and Easy Fix Ups to Get the Best Price when You Sell Your Home, Barb what are the top things home sellers should consider?Take car

Most people do not sell homes often. There are many myths out there about selling a home what are the Top 10 “Must Know” HARD Facts in Real Estate Home Selling?●You need to hire an agent that knows the market. Many people think they are getting good info about pricing and marketing by looking at Zillow. But the truth is market knowledge can be the difference between your home selling and not selling.  ○Ask the agent how many homes they sold in the last several months, or in a year.●A Clean, uncluttered home sells for more money… ○I had a client that had some stains on the basement carpet.○Neither myself or the stager could see it before pictures were taken because the basement had a lot of stuff covering it up.○We priced right, lots of buyers came through, no offers.○As soon as she had those stains cleaned…got a offer for $5 over asking price!●Pricing a home to sell is CRITICAL○This does NOT mean under pricing○It means pricing AT market value without:■Adding money for ‘negotiating room’ ■Even as little as 1%

How to Be Safe Showing a Home with Covid & Hot New ListingsWe are back on the Real Estate Voice with your host, Richard Randall and we are talking about buying and selling real estate.  What protections have you put in place in this Covid Environment while showing homes?Sellers have some fear about being exposed.We Provide our No Touch Showing Kits that include:➢Masks, gloves, wipes & hand sanitizer:➢We ask Home Sellers who occupy their homes to:○Leave lights on○Wipe down all door handles, cabinet pulls and light switches after showingsWe make sure we help home sellers price Realistically vs Optimistically as well as we market in advance that way there are fewer showings and the exposure is less●147 Star View○3 Showings○2 Offers○Sold for $12,000 over Asking Price the 1st weekend➢We do Virtual Open Houses using Zoom meetings like this.1.  3249 Blackwood Pl, Cs, CO 80920, $624,9992.  328 Catalina Dr, CO CO 80906 $349,993.  15410 Holbein Dr, CS, CO 80921, $449,9994.  167 Fordham Street, Fountain, CO, $26

What Home Sellers Should Know About Sewer, Septic and Wells When Selling A HomeMany people do not pay close attention to the sewer, septic and well systems of their homes unless there are problems.  What should people thinking of selling their homes do to prepare their homes with those systems?➢Well, that is correct, most people do not worry too much about their sewer, septic or well systems unless there are issues.➢If the home has a sewer line…I recommend you ask a sewer company to come out and scope the sewer and/or clean it.○There are the typical rotor rooter type companies○Or there is something called Hydro Cleaning Which is a high volume spray hose that clears out the line – cost is under $500➢You are looking for breaks in the line or any roots blocking the lines➢These can be really costly repairs and you want to know about them before you are in the midst of a sale.➢Septic systems are a whole different ball game…○Who Has to Check it?  Could be either - usually Seller○Steps:○Septic Company Inspects ■Cost

In Colorado, you have said before that Real estate agents are licensed to fill out the forms the state gives them to complete the legal contracts for buyers and sellers. What about New Homes, are those forms the same and how can buyers protect themselves?➢Builders use their own contracts to protect themselves.➢The problems, especially in this red-hot competitive market is that buyers fall in love, decide to sign an agreement with the builder but often those agreements have zero protections for the buyer and all in favor of the builder!➢I do recommend you take an agent with you.➢ If you decide to buy directly from the builder, at least hire an attorney to look over the contract.➢I recently had a buyer that decided to walk away from their deposit and a new home because the construction quality was poor & the home did not appraise VA.➢Although the sales person on site ‘said’ the Earnest Money was $3500.  The form actually said:○$500 was Earnest Money○$3000 was a NON-REFUNDABLE INDUCEMENT FEE➢Per the VA rules

Home sellers planning to put their homes on the market often ask how to prepare.  What are some Home Inspection Pitfalls Before You Put Your Colorado Springs Area Home Up for Sale?➢There are some simple things you can do to get ready.➢Roof and hail damage are really prevalent this time of year○Check with your Insurance Company about Deductibles➢Consider getting a pre-inspection○Helps you identify unknown issues like:■Plumbing■Electrical■HVAC / AC – most request them to be cleaned and serviced■Sewer Scope – this is a big issueIf you do this, we can offer the home as Pre-Inspected, Pre-Certified home➢About 75% of Buyers test for Radon○Radon is the natural radiation that emanates from Granite Decomposing○It’s in 50% of the homes in the area○Here is the tricky part…■Its highest on warm days and cool nights &■Fluctuates with atmospheric conditions➢Consider investing in a Home Warranty○These are low cost insurance policies that cover: about $500 plumbing, electrical, heating/cooling, garage door openers and app

We are back on the Real Estate Voice with your host, Richard Randall and we are talking about buying and selling real estate.  You advertise Barb Has The Buyers, tell us how that works.➔We market for buyers all the time in our business.➔Just to put that in perspective, the average agent spends $89 a month on marketing.  We spend much, much more, not just for sellers but to attract buyers➔Our business is structured with what we call direct response marketing➔We don’t buy leads from Zillow or Realtor.com, because when people ask about a home through those websites their contact information gets shared with dozens of agents and I’m sure those people experience their phones suddenly blowing up.➔We actually advertise online on various social media websites and google to attract buyers to our listings and to get access to all the homes➔Most buyers do not know how it works…◆The see something online and when they inquire…they think they Zillow does NOT tell the public the home has a contract◆So with our low inventory

74% of Real Estate Agents sell less than 3 homes a year. That seems shocking to me.  You would assume most agents are selling homes every month, why is that?Well, it's really not the agent’s faultMy experience at my first real estate brokerage shocked meI came from a Military & Flying background where everything had a procedure, even right down to what words you used.Not so with real estateThe industry is structured this way…Agents attend just 1 month of school to handle one of your most valuable assetsThen the brokers give limited training and they send you off to sellMost of the training is how to fill out the legal forms andMaybe how to pester everyone you know over and over again orKnock on doors and pester people you don’t know to get business…It really doesn’t have to be this poorly managed and we do not work that way.Our team agents receive training on things you would assume agents would get training on:Presenting how we work with buyers and sellersThe process of working with buyers and selle

Home sellers planning to put their homes on the market often ask how to prepare.  What are some fast and easy fix ups to help home sellers get the best price when they sell their homes? Pretty homes that are priced realistically always sell fast.. Buyers want move-in ready That does not mean ‘perfection’ Typically that means, no ‘deferred’ maintenance and fresh flooring, etc.Start with Curb appeal because buyers spend much of their time on line looking at the outside. Things like:Freshening much bedsFix mailboxFix broken door bellsPaint front doorsTrim bushes and trees if overgrownThe next room is the Living Room Make it great, no tired old carpet, no dramatic paintBronco Orange living room storyFocus on the fireplace if you have oneDeclutterCleanThe next room is the KitchenNo broken countertopsUpdate kitchen faucetMake sure appliance colors matchTake all off counters except coffee potRemove throw rugs and dish towels for picturesThe next most popular room is the Master BathroomYou will always get your invest

In Colorado, I know we don’t typically use attorneys to draft these legal contracts.  Real estate agents are licensed to fill out the forms the state gives them to complete the legal contracts for buyers and sellers. What are some Confusing Clauses you see that home sellers should watch out for in selling homes?●These contracts were designed to make sense to buyers and sellers and be completely understandable:●Real estate agents are NOT supposed to Make Up language that could be considered ‘practicing law without a law license’. ●Yet, it happens all the time.○Some of their brokers ask their agents to include, as part of the contracts they are writing, their company-specific addendums which alter the meaning of the contract…most often… in favor of their client○Technically, if we have our clients sign ANY, non- State Approved company specific addendums, we MUST hire an attorney to explain them to our clients.  ●It’s just not very practical if you have 8 buyers waiting to hear an answer on their offers – to go h

We are talking about marketing a home. Do the words written in ads really matter and who writes them?a. Yes, absolutely.  Buyers want to know all there is to know about a home, especially in a hot market.b.  We write the ads to attract buyers on emotion…NOT on the data.c.  When people buy homes its an emotional purchase.  Not often is it logical.d.  We have a saying about “Love” word.e.  Yesterday we had 11 shows in a higher priced home.●There are many buyers and agents that said the “love’ word.●It could mean the difference between 8 offers or no offers if it is not done correctlyf.  Example: 3 bedrooms 2 bath home.●Verses spacious bedrooms with plenty of closet space and gorgeous views.●It’s all about visualizationg.  Same with pictures in a way.  Those are a form of ads and evoke emotion.●Buyers eliminate homes based on the photos.●That is why we are very careful on what pictures are placed on each listing and in what order.○Some sellers want images of every nook and cranny.○But photos of toilets, messy ga

The market is red hot and sometimes the appraiser does not think the home is worth what the buyer agreed to pay, tell us about that.1.  Yes, it’s exciting and very scary for home sellers at the same time.➢For the 3rd month in a row in the summer inventory went DOWN➢Some sellers are reaching for the moon on prices and not getting it➢Others are priced ok but getting bidding wars over asking price putting the appraiser’s opinion of value in doubt2.  We have had a few cases where the appraisers have come back and said the home is not worth what the buyer agreed to pay. This can be very frustrating for a home seller.➢Options:  Lower price to appraisal○Say no and get buyer to make up diff in cash○Negotiate in between■Lear Story1.  Price Realistically NOT Optimisticallya.  Toms story2.  Look at similar recent and active sales.3.  Condition is big:a.  Its an opinionb.  Try to make the house look nice for the appraiser visit4.  We meet the appraiser, provide similar sales and tell them about improvements5.  You want t

It is surprising to me in this hot market that not every home sells.  How do home sellers make sure they get their asking price?●The asking price is the first impression and often the first thing buyers see●Many homes are discarded by buyers as not being in their appropriate price range●Pricing should not be taken lightly○Pricing too high can be as costly as pricing too low●Looking at good, relevant market data gives you an excellent idea of how to Price Realistically vs Optimistically○Pricing too high – buyers assume something is wrong if a home sits on the market○Pricing too low could give the same impression unless its properly marketed eg:■Had a recent sale that had heavy cigarette smoke damage. But explained it.  Home sold for 23% OVER asking price.■If I did NOT explain, buyers might have worried about other issues.●We are offering a FREE report entitled:○Home Sellers:  How to Get the Price You Want and Need that helps people understand pricing strategy from three different angles○Order your report at■ww

After the seller’s home goes under contract, the next steps are the buyer does and inspection and sometimes asks for things to be repaired, or an appraiser comes along and may not agree the home is worth what the buyer agreed to pay for the home.  Does the seller have to do all the buyers ask?1.  Well in this hot market, where there is low inventory and high demand for homes,  the seller does not have to concede anything. However, the risk is that the buyer walks away.a.  Probably the most common concession we receive this time of year are requests to check out the roof for hail damage.  If the seller has to make a claim they must pay a deductible.●One of the most popular insurance companies in the area, USAA, has recently imposed a deductible as high as 1% of the homes value.  That could mean 3-10K the seller has to come out of pocket if the roof is damaged by hail.●So I just sold a home where the seller had already given a price concession because they were tired of showing it.  Then the roof was determined

I know people do not buy homes all that often in their lifetimes, so when they are on the process of buying a home, what are some things they can do to make sure their credit rating remains in good shape while buying a home? ●Yes you are right people do not do this every day.●What they may not know if that lenders will be checking their credit throughout the loan approval process all the way up until the day of closing.●So buyers need to be very careful about how they use credit during this time.●Here are some examples of home buyers that actually LOST their loan approval and had to wait a very long time before they could buy.Credit Score Management:1.What buyers need to know while shopping for a house:●Cars●Furniture●Appliances●No Payments for 6 Months show up on credit as if you owe the FULL BALANCE MONTHLY.1.So the recommendation is… Do not go buy any big ticket item on credit2.Mortgage lenders want to know about:●Large deposits●Track where the down payment and earnest deposit came from●I just had a discus

We are back on the Real Estate Voice with your host, Richard Randall and we are talking about all thing’s real estate.  Barb you are a Navy Veteran and part of what your company does is give back to Veterans Charities – why are Veterans charities important to you?1.  Well Richard I served in the Navy both as an Air Traffic Controller in my early years and I came up through the ranks and became an Intelligence Officer. I spent two years in the overseas in the Philippines, which I thoroughly enjoyed and it was there where I really learned about how other countries live.  Those experiences taught me how fortunate we are to live in the America and enjoy the freedoms and opportunities we enjoy.  Most of my service was during a relatively peaceful period.  Then when 9/11 hit, I was mobilized back into active service and worked right here at NORAD.  It was a great experience.a.  When I get the chance to talk to some of the service members that have deployed as many as 8-11 times in harm's way, my heart goes out