Barb Schlinker The Real Estate Voice

Legal Real Estate Clauses that Help You or Hurt You in a Real Estate Transaction and What You Can Do About ThemIn the last segment we talked about how it’s a seller’s market, which means, in many cases, the home sellers get to choose from multiple offers, but it is a legal transaction. There are some legal clauses in real estate contracts that can help you or hurt you in a real estate transaction, tell us about some of them.First of all make sure you hire a real estate agent that knows the contracts.  Many do not.Some shove a 20-page agreement in front of the buyers and sellers and tell them to sign it without explanation.  It’s actually not required.But I believe it’s malpractice to work that way.Here are some Legal Landmines Home Buyers and Sellers Need to understand:Many agents will cut and paste legal language given to them by another agent or broker because they think it may ‘protect’ their clients.Here are a few of my favorites:Any other documentation and/or disclosures in the seller's possession t

Buyers seem to have much fewer homes to choose from, what is the status of the current market and why do home buyers need to understand the market conditions?I had the privilege of going out to show homes last weekend and it was quite the journey.After that buyer viewed 10 homes and picked one, they got out bid by another buyer.They were given the opportunity to increase their offer but declined.We are in what we call a SELLERS MARKET That means, in most cases the seller gets to choose the best buyer for their home. A sellers’ market is defined as:  Less than 3 months of inventory in a price range. Well we have less than 1 months of inventory in almost every price range below $800,000 The result: Sellers are able to command more for their homes. Other huge factors are: Really low inventory  Inventory of Available homes is at RECORD LOW, right now only 659 homes on the market.   Compare that to 1 year ago there were over 1927 homes to choose from in the Pikes Peak Region That’s a 54% DECREASE in inventory As y

The Top 9 Reasons You Should Call the Barb Schlinker Team for Your Next Move and 7 Hot New ListingsBarb, not all real estate agents and teams are the same, and I would only recommend your team for someone who is planning on making a move, tell us the Top 9 Reasons Our Listeners Should Call the Barb Schlinker Team when they are ready for a move: Our Team is designed to ensure we never run out of time to take care of our client’s needs and consists of: Agents 3 Lead Coordinators Operations Manager Managing Broker Video / Media Manager Social Media Manager Data Base Manager And me – The Team Leader Accomplishments: We help people buy and sell homes daily International Coach and Guest Speaker for Craig Proctor’s Coaching Program for top real estate agents in North America providing training for over 1000 people on a quarterly basis.   The Real Estate Voice, a weekly radio show on KVOR AM 740 which is a broadcast on YouTube & Podcast that educates the public about buying and selling real estate.   I am the onl

Segment 3Why the 2021 Real Estate Market will Soar AgainBarb many of our listeners know, you and your team are the only people I would recommend if they have a real estate need, making a decision buy or sell a home, why do you think next year will be another record year for real estate? Good Credit and Income - No NEED for a Down PaymentCurrent buyer - $324,999 home on acreage $1000 out of pocket! Military and Veterans - ZERO down payment You can get FHA financing for as little as 3.5% down Two Down Payment Assistance programs 4% Down Payment Given to BuyerRent Rates =  Sticker Shock! Buy a Home for Less Than Rent Prices increasing 9% per year Are we in a Real Estate Bubble? No – why Jobs, Employment, 44% of Driving Factors of this economy is from Aerospace and Defense. That’s not going anywhere Southwest Airlines HERE Even the Reology CEO predicts a strong real estate market for 2021. The housing market has continued to set records with home sales far    outpacing last year’s totals by 35% 3rd Quarter 2020St

Segment 2 The Best Way to Shop for Homes– New Buyer AlertBarb, in the last segment we talked about how the list of available homes is very low, what are some of the best ways to shop for homes in this low inventory of homes environment? Hire an agent that has only your interest in mind. Buyers do not typically know how it works and just respond to who ever they connect with online. Zillow does not Tell the public from our MLS that homes are under contract very frustrating for buyers. 2 .  Get your financing and down payment in order 3. Plan out when you will view homes, 2-4 appointments deep. Homes sell quickly! Dan and Edie Story Scheduled Thursday and set appointments to see 4 homes Buy Friday night – 2 were sold! Barb, Tell us about how competing offers shake out in this market now? We have a cash investor that purchases buy and hold real estate up to $500K They buy about 500 homes a year for their buy and hold investors They buy in 55 real estate markets in the US They pay price, sometimes over full price

Barb, buyers seem to have much fewer homes to choose from, why are there much fewer homes on the market?Factors:Rising Home PricesRecord Low Interest Rates, yetInventory of Available homes At RECORD LOW, 665 homes on the market. Compare that to 1 year ago there were over 2050 homes to choose from in the Pikes Peak RegionThat’s a 35% DECREASE in inventoryBuilders cannot build fast enoughSupply of Homes vs SalesMany home buyers are having to increase the price range they are shopping in. They CAN because interest rates are at RECORD LOW numbers… VA 2.25% wow! Conventional: 2.5% OMG$435K 5% down Total payment = $1873 Conv, $1821 VA For our beloved military folks, that payment is less than BAH in most cases and they can buy ZERO down.EX Lets take an average sales price now: We are talking Barb about the low available housing inventory, what are some other things that are causing fewer people to put their homes up for sale? 31% worried about their Finances Sellers Think Waiting = More $$$ What they may be buying o

Everyone is saying the market is really strong for home sellers.  But many people think all agents have to do is put the home on the market and it will automatically sell. Is that true?I’ve had home sellers tell me, agents do not do anything or why should I pay you for just 1 week a work?I get it but not every real estate agent is the same.There are so many things that come under scrutiny when buyers are looking at homesYou won’t know who is eliminating your home or why, based on the photos alone!I still see so many agent who use their Iphones to get pictures taken.I recently walked through a bunch of home images with a $500,000 buyer and their comments were very telling…Some images made the kitchen look really small when it wasn’t.Many left out spaces that were important to them.Most agents do NOT study marketing…Did you know the key spaces a buyer looks at is as follows:Curb AppealBack Yard/ViewLiving RoomKitchenMaster BathroomMaster BedroomAgents should know and stack the photos to keep those buyers from e

What should potential home buyers consider when thinking of renting vs buying?People need a place to live and it’s a very personal decision. In the past year home values rose over 11% and we have seen those double digit appreciation numbers for about 5 years. So, with the average price of a bout $430K A Very conservative appreciation in just 1 year is over $30,000  = 7% If you plan to stay for 1 year it might make sense to buy, here is how I have made the calculationBank Rate.com Mortgage CalculatorSo if you plan to stay for more than 1 year right now, you would make money?With the rates as low as they are…It’s actually less money to Buy vs. RentPlus I am told there is a lot of competition for rental homes right now.I’m seeing even smaller townhomes in the best school districts rent for nearly $2000 per monthHow do you Determine what the Rent Rates are? You can Visit:  Rentals.com or there are some Rentals in the MLS at:  PPAR.comIn most cases I am seeing Single Family Homes rent for between $2200 - $3300 or

How the Eviction Moratorium will Affect the Real Estate MarketWe know that people do not live in their home the same way they have their homes on the market.  Recently we read in the news that Governor Polis put a moratorium on Evictions if the tenant can prove their financial hardship is due to Covid.  What impact will this have on the Real Estate Market? First of all, I know there are some career fields that are being harmed by this awful pandemic. I think this ruling does have some merit, but I can see how it could be abused. I also think it has a negative impact on investors to be motivated to purchase rental real estate. There is at least 1 buy and hold investor in this market who just increased their maximum cap on investments because the prices are rising pretty quickly. I do think the negative impact though for tenants, is that it will be harder for them to qualify for rental homes and townhomes because they will be scrutinized a little harder.In my opinion, often when the government gets involved it’

Most buyers will do a home inspection after they buy a home. What are some of the pitfalls a home seller could run into when selling their homTop Five Home Inspection Pitfalls33 Physical Problems that come under scrutiny, with the inventory low, most buyers are stating they will not ask for cosmetic issues and focus on major systems, health and safety.Colorado does NOT require a license to be an inspector.Story of Landscaper inspector & DadIn most cases the lenders and appraisers do not require much of these itemsThey focus on whether the home meets the lending guidelines:Safety trip hazards, window well covers, broken windows, etc.Today We will cover the top 7 System categories:1. Mechanical Systems:HVAC – clean and service furnaceWater Heater – check permit history, building code has changedElectrical – GFCI issues2. Plumbing:There are often hidden things you may not see, it would not hurt to get your home pre-inspected.3. Appliances:These should be functionalRefrigerator, washer and dryer are considere

Why the Fall and Holiday Season is a Great Time to Sell Your Home and Hot New ListingsEveryone is saying the market is really strong for home sellers.  Many people think its a bad time of the year to sell a home during the Fall and Christmas Season.  Is that True?First of all it’s the best case scenario for a home seller to be in a position to select from the best of multiple offersIt does not happen in every caseBut in most cases for home priced below $400K and sometimes below $600KI even had a bidding war on a $1,200,000 homeInventory is Crazy low - low 700s for 3 countiesIf you are buying a home, that presents the issues of:  In most cases you will have a pretty good idea if you are facing competition:That is why it’s important for agents to understand how to send offers that present their buyers in the best light.We know how to do that and even get what people consider impossible deals done by over communicating and selling the buyer.In the offer…People LOVE stories!Most agents (not all) don’t know how to

Selling a home is a project and sometimes it’s a challenge, and sometimes it’s easy. What are some things that make selling your home like hitting the Easy button?The number 1 way to make it the Easy Button is to Hire the Right Team to sell your homeOver 5000 agents, less than 1800 sales every month, this creates a lot of agent desperation because not everyone is getting a monthly income.In fact 74% of agents Sell 3 or Less homes a YEAR!Those agents, do not know what the market is doing and how to get home sellers top dollar and make it easy for them.Those agents, would be thrilled to just get you a contract and encourage you to take it!We sell dozens of homes MONTHLY and absolutely have our finger on the pulse of what is happening in this market.I have seen agents knock on doors and beg to list homes for a deep discounts… However…. you get what you pay for … And it’s not going to be easy, in fact far from it! Some agents are really skilled at making it a miserable experience for the buyers and sellers. I’ve

We know that people do not live in their home the same way they have their homes on the market.  What are some easy projects home sellers can do if they are planning to sell their homes to get Buyers to Fall in Love with Their HomeBuyers spend most of their time viewing the outside and backyard when viewing homes online.Curb appeal is massively important to home buyersGetting this right does not have to be expensiveDuring the fall you can…Rake the leavesTrim the shrubsMow and edge yards areGoing dormant very soonAdd finishing touches like:Cover bare spots in the lawnRevive planters with mulch even fake seasonal flowersClear the guttersTouch up peeling paintRejuvenate the fences – big for first impressions.Make sure the mailbox is in good repairCreate an attractive Entry with pumpkin decorations, seasonal flower poDriveways – power wash clean, repairResidents rarely use the front door But its huge for the first impressionCan you give us some examples of how to make buyers fall in love with your home?Spruce up

Home Inspection Pitfalls When Selling a HomeMost buyers will do a home inspection after they buy a home. What are some of the pitfalls a home seller could run into when selling their home?Top Five Home Inspection Pitfalls33 Physical Problems that come under scrutiny, with the inventory low, most buyers are stating they will not ask for cosmetic issues and focus on major systems, health and safety.Colorado does NOT require a license to be an inspector.Story of Landscaper inspector & DadIn most cases the lenders and appraisers do not require much of these itemsThey focus on whether the home meets the lending guidelines:Safety trip hazards, window well covers, broken windows, etc.Today We will cover the top 7 System categories:1. Mechanical Systems:HVAC – clean and service furnaceWater Heater – check permit history, building code has changedElectrical – GFCI issues2. Plumbing:There are often hidden things you may not see, it would not hurt to get your home pre-inspected.3. Appliances:These should be function

Everyone is saying the market is really strong for home sellers.  So what are some quick tips for home sellers to get their homes ready for sale?#1 = The most common issue we have with helping homes sellers present their homes to market is:●CLUTTER●Take Pictures of your home then LOOK at them, it’s pretty shocking, it was for ours●Go Visit a Model Home and Notice what is NOT there…○They always feel light and airy but homey#2 = Get any broken things taken care of as soon as you can.  Buyers do not want to inherit workAreas of Focus:●Curb Appeal = 28 Seconds of viewing time + drive by timeIf they don’t like the outside you cannot get them in!○Mulch beds○Mail box○Door Bells○Front Doors○Landscaping○Trim trees & bushesLiving Room – most time spent there○Reduce down volume of furniture○Declutter○Focus on one point – fireplaceKitchen  - everything off the counters except the Coffee pot!➔Remove dish towels and rugs, dog bowls, too many small decorative itemsMaster Bathroom ○You really get your $$$ out of Kitchens

●It’s a funny thing but there is no training for showing homes.  ●I was pretty surprised when I received training on this topic in the middle of my career.●#1 A great agent should manage expectations from the start.●#2 Thing buyers should consider is what is important to THEM in a home.●Part of what my team is trained to do is to find out what the buyers are looking for then go find it for them.  They don’t rely on the MLS to find them a home.●This is NOT what most agents do, most use an opportunity to SHOW a home as a way to MEET a buyer.  In many cases, they don’t know if they can Buy a Couch on Craigslist let alone buy a home.We have a very low housing inventoryPrices are rising faster than I have ever seen in my 24 years of real estate experienceIf you are buying a home you HAVE to be ready!●I spent the whole weekend trying to schedule showings for two homes○Both got booked up○One got cancelled, too many offers on the table○That is what buyers are facing today so.●A showing is NOT an inspection, its looki

What are the factors that sellers consider when deciding who is the best offer to select?First of all it’s the best case scenario for a home seller to be in a position to select from the best of multiple offersIt does not happen in every caseBut in most cases for home priced below $400K and sometimes below $600KI even had a bidding war on a $1,200,000 homeIf you are buying a home, that presents the issues of  In most cases you will have a pretty good idea if you are facing competitionWe know how to do this so if you are thinking of buying a home give us a call at 719 301 3900In the offer…People LOVE stories!Most agents (not all) don’t know how to sell the buyer, in any way.Sellers DO CARE about who buys their home.I have seen sellers take LOWER offers from the buyers they LIKED better!My team is trained on How to Present a Buyer to Obtain Winning BidIn this case the seller commanded over $40,000 over asking price!If you want the team that can help you command top dollar, give us a call at719 301 3900We do thi

●For many people owning a piece of real estate is one of their largest assets.●It can be scary for people who think they could be buying at the top of the market.●We have had a boom town for real estate since 2012.●But you have to consider the market demographics to make the best decisionWe have a growing populationIn most cases people who have purchased a home within the last year or two and have to sell are making a really nice profitWe have a very low housing inventoryPrices are rising faster than I have ever seen in my 24 years of real estate experienceHot Home of the Week7771 Valley Quail Pt, 80922: $139,999Thinking of selling your home and downsizing to a smaller home? Get more information by calling 719 301 39001)   You are listening to the Real Estate Voice with Barb Schlinker of Your Home Sold Guaranteed Realty, if you are thinking of making a move Barb at 719 301 3900 or visit BarbHasTheBuyers.com When we come back we will be discussing: How Home Sellers Pick the Best Offer and Hot New Listings!

The latest news is that the real estate market in the Colorado Springs area is really hot.  That’s great if you are a home seller but if you are buying a home in the lower price ranges it can be really competitive. How can a first time home buyer compete to get a home in this hot market? 1.Buyers Need to be Prepared 2. Here is what I am seeing in the market today: a.Buyers are having to bid way over the asking price for home under $450K - $10-40K b.Buyers have to be financially ready to make the best offer c.Buyers should NOT wait until the last minute to make their offer d.Buyers getting their offers accepted are offering e.Buyers have to assume they could be  competing with a cash buyer 3 . First Time Home Buyer - Foote StoryMy team and work with buyers all the time.  If you want to know how to get ready to buy your first home, our team can help. I know there are various low down loan programs out there, in this market does the amount of down payment matter?●Yes there are about 4 Zero Down programs that I c

Home sellers are planning to put their homes on the market and most home sellers want to sell their home at the HIGHEST PRICE.  How do they accomplish selling at the highest price?Top Three Seller Mistakes●Setting Your Asking Price appropriately is the most important thing you can do when selling your home.●IT IS THE FIRST IMPRESSION OF A HOME…#1 Mistake is OVER PRICING●National Statistics indicate if you price too high then slowly walk the price down you will net LESS#2 Mistake is UNDER PRICING ●Although we have many homes that sell for over asking price: ○YTD we have commanded nearly $357,000 over asking price for our listings. ○It does not mean I suggest a LOW ASKING PRICE. ○There will often be that 1 neighbor that sold their home for a song, for whatever reason… ○We have sold hundreds of homes that were taken back in foreclosure during the mortgage meltdown period. ●The banks corporations always know how to get top dollar…by pricing aggressively ●But you can go too far by pricing low. ●We are not a team w