everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>you're welcome to the same thing with Steve shovel we talked about the ins-and-outs of money pretty much everything of the Senate release of you having a happier or healthier relationship with money I want to thank you for joining us today sharing this with your friends and family we start the 60-year off with almost eight hundred thousand viewers and listeners so we're very very excited about that we've got one heck of an episode cuz there's so much going on in the world today and we've had so many requests from our viewers are listeners line and what's going on with real estate so I have Glen Henderson here is a real estate expert he's been on the show many times for the last couple years and he really rides great contents of this is not me really want to pay attention to take notes on cuz if you're looking to sell or buy something or just understand how to get the most out of your house you really want to take some notes so with that I want to welcome Clint Henderson to the show thanks for having me on again we're actually really glad you're here so let's just do a little recap of what was going<br> on an 2023 cuz I heard from people all the prices are too high there interest rates are too high but there's still a lot of houses being bought and sold so I understand what was going on in 2023 and then let's talk about 2024 or so 20 23 years started out well and we started out through spring into summer rates were down from where they had been at 2020 to buy end of 3rd quarter beginning of 4th quarter freestyle race starting to go back up and then about October we got to hit the 8% Mark and that basically put the brakes on the market and when he saw that happen. We went from the sixes 28 and a matter of a couple weeks so October November were very slow mine I'm very few sales were happening December we rate starting to gradually come down week by week and with each incremental drop and race we saw a little bit of been up to<br> fire activity and even though December is typically a slow month it was busier than what we had seen the previous two months just because of the impact that the race had so coming into the new year rates have continued on that downtrend which is good to see inventory was the biggest challenge in 2023 because of where rates are right now very few people are making transition because it's the traditional move-up buyer that's now bought a house in there in a mortgage that the two three four percent and they're evaluating moving up and do a new property owner looking at a rate of 67% it just doesn't make sense payment wise even though they would be walking away with a lot of equity same thing on the reverse side to move down buyers that kids are gone or empty nesters that I'd be looking for a smaller home or relocating to a different area for the retirement stage when they're looking at the rates and what payments would be that doesn't make sense<br> listening Lester transitioning out of state where they're able to buy all cash Thorazine for us being in California ever seen a lot of people still leaving California to the less expensive areas because they're able to sell and pay cash outside of the people leaving it's really life events that are a majority of the sales so people that passed away an inherited property divorces be a job losses are other reasons that have caused if the income to go down and they're financially strained but hopefully as we get into the new year in a lot of the forecast card that because rates started to come back down and we do have a lot of buyers that are in that people that are bought of the last 2 years during that 5 6% range that will start to see some of those homes coming back on the market and we will start to see some increase in inventory right now so if you're in a conventional which is roughly under $900,000 in the mid-to-high 6% range for sing<br> family if you're buying a condo than you're in the low seven-per-cent range the jumbo loans depending on down payment depending on the lender anywhere from mid-to-upper 60s and Below 7% range so I can see cost of gone up significantly for people so let's talk a little bit about you know what we had covid and that delayed the whole short sale foreclosure Market because of that that had to work its way through the court system and we're seeing that work its way through the court system so are we seeing more short sales foreclosures and things like that are those taking a nap or<br> we're not seeing the we're not seeing the short sales and foreclosures at least not yet because through the covid-19 crisis ran out 30 40 50% depending on what area you're in the people still have Equity but we are we're not seen unless you have access to the data there is a significant amount of people that are in default from the covid 4 virus program so throughout the U.S has approximately 2.3 million people took the forbearance program so basically they were able to stop making payments 1.7 million of those people still owe on the money in there is two ways that the payback either gets added on to the end of the mortgage or which majority lenders did not go that route the majority took whatever that amount was that was not paid and then<br> if you had 30,000 Bennett that thirty thousand split up over 12 24 36 months so now it's somebody's payment has gone up significantly part of that forbearance program is one of the guidelines for the stipulations was those are not reported late on a mortgage because there was to protect people during the covid in the down with that stipulation didn't clarify and it was just a blanket stipulations to all of the people that are now in the forbearance Program start making payments none of that's being reported on credit there's actually a large number of people that are in default that's not being reported anywhere and it's so when you look at mortgage defaults and even though we're seeing that they are on an increase in a gradual increase those are not actual numbers there it's actually much fire because of the people that are in the forbearance program so you're not making payments so for our state California for example there's nine<br> thousand people roughly that are not making payments on those forbearance programs that's not reported anywhere in the delinquent if you look at just delinquent mortgages or any of the stats on people that are behind and in the series probably in the last 4 weeks but there is you may have seen it in the news about the Veteran's Administrations the VA put a moratorium on foreclosures because what they realize is all of the service members and people that veterans that are used to be as long as it took this poor bairns program this covid forbearance program it was forcing them into foreclosure because they're not able to make up these payment plans for making payments on his payment plans and they realize they can't just be basically forcing all these people into losing their homes they put a moratorium on foreclosures while they try and work out a solution and what they're looking at is taking<br> the amount that was owed adding it to the balance and then recasting the mortgage so the recasting means just over the remainder of the life of the loan then the payment is now based off of near if you have 30000 and deep and forbearance 30000 that gets out it onto the pole of balance of the loan recast over the remaining life of the loan so then it's a very gradual increase and payment and something that's manageable for most people I could see that if somebody has 27 years ago on a load or I'm sorry 25 years to go in alone and they've got to add in $30,000 if they're just adding a little bit each year that's not that significant and so I I can you know it might be an extra $100 a month or two which is Merry much more manageable than the devil you know exactly and then the other challenge right now to is for California<br> is with the home insurance providers and then people are seeing premiums going up 20-30 40% so so listen to a lot of these people that were any of these people are in these barbarous programs that they're getting double head because then they got premiums going up but then just for the everybody as a whole premiums are going up and even people that are in HOAs or condos they're being affected because the HOAs policies are going up significant language then has to be passed down to everybody in the community Through the increase in HOA dues that's the other area that spending a lot of pressure on our market right now<br> wow that's so yeah I just it was really into it now do it has the like my understanding is there's number of insurance carriers that are no longer providing health insurance for tonight I mean the homeowners insurance for the State of California and we still have a few and some are not accepting more new people so which of the carriers that are actually accepting do you know what carriers that are accepting continuing to stop home owners in state of California I'm actually not real sure insurance broker to open guide us but we're going through it right now just this week and I've been in the process of starting to get close to evaluate you know who's available and what the premiums are going to be some Dallas it's really interesting and now their insurance companies are looking at further inspections to make sure they they've got worthwhile houses to ensure so it's kind of a double whammy on everything so and yeah<br> I totally understand that are ours is up 35% and we're not even if you know a fire area or earthquake or anything yeah exactly how some of these people that are and those even do the more higher severity Zone and a lot of people that have owned homes for decades and they're on a retirement fixed income and if they've been able to adjust to small increases over time but when they're getting hit with 30 40 50 60% premium adjustment is putting them in really tough Financial positions to so hopefully they figure out something to correct this to the they can continue to go like this and that would cause more people to leave the state of California and all that kind of good stuff.<br> more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton they welcome back to the saving with Steve shall we talk about the ins-and-outs of money pretty much everything in the sun to release you having a happier healthy relationship with money I want to encourage you to subscribe to your YouTube channel are philia that you can help her do BBS radio talk radio New York City all these networks are dedicated to empowering you to solve problems and lift your spirit and live a life of personal financial Freedom can always go check this out it's saving with Steve Jackson on Facebook get behind the scenes stop guest gifts the holeshot let's really get back to or talking about which is real estate with Glenn Henderson Glenn welcome back to the show I think it's Steve we talk about what's going on in<br> real estate and you know we we were done the break we're just talking about hey what's going on with the homeowners insurance and how it's affecting some people have Billy together more mortgage closed because of the other rates and stuff like that now one of the big things that we want to talk about is every varmints a little bit different but there's a few things people to do and I know you almost have this patented like five things that you know people can do to sell their house for the most amount of money and I was wonder if you could just walk us through those five things over the next 10 minutes or listen you can hear that they can take notes and all that kind of good stuff because I've talked too many people that you helped and those steps have made a gigantic difference from then that losing money on the backend getting more out of it not being too crazy about trying to get the highest price but then I'm getting a higher price and actually thought because they did it the right way so then if you can share that with this I'd love it<br> so number one is the pre-inspection this is what a lot of people don't do and I feel it makes such a significant impact or difference in the sales cuz once you get into escrow when you're selling your home there's two reasons the home typically fall out of a scar on the number once, and one is inspections and problems come up so I doing a pre-inspection for putting the home on the market is the same inspection to the buyer would come in the same inspection the buyer would hire somebody to do and come in to do once you get into escrow by doing it up front where you able to determine if there's any issues any problems that we're not aware of and then we can determine is something we should fix or not fix but even if we don't fix it at least then we can disclose it up front and then in our counteroffer offer were able to put in that the sale is as is the buyers to wear these issues so it doesn't become a problem when we were two three weeks into the transaction and that's been a crucial step in Bean<br> able to help ensure that we're not dealing with a second point of negotiation once we're in contract is a lot of buyers like to use that as why did my inspection this this this and this came up so I want a $10,000 credit to go towards my closing costs and it's almost become a trend where people don't even it's not about the problems is just about how much money can I get off to stay up buy used leveraging my inspection so having an inspection upfront take some point he takes away that leverage point to the buyers would have I've heard many stories about people losing 20 30 40 50 thousand dollars over something that didn't even cost that much to get fixed so that's good to know so what's next then second is the staging the staging a lot of times people are staging and they just think okay that's bringing Furniture in into a house if it's empty but by stage with staging what we mean is focused in on first curb appeal the weather at Sunol painting pressure washing<br> are planning some flowering plants in the front add some color cleaning up the lawn whatever we need to do to enhance the curb appeal because when somebody pulls up to the house with a cease that's that if that's the expectation and you know that said first impression of the home then once we get inside if somebody's still living in the home that's decluttering sometimes taking some furniture out often times will remove furniture and then have her stage or bring items and for just one room or one area if it is a vacant home than staging all of the main living areas kitchen bathrooms and then the primary bedroom and bathroom I'm usually we don't focus on the auxiliary bedrooms just because Master primary bedrooms the one that is a decision maker and whose make paying the money is most concerned with the staging is basically improving the overall look of the home button on a vacant home a hundred and 10% fielded not only<br> feel this way but we've tested and Stage, we'll always get more views online because it looks better it will get more showings and then in the end we're going to sell for a higher price know what about something like that what about people who have all the family pictures up there you know is that something that you know what it is that needs to be staged as well as a part of the decluttering or get a paring down process would be taking down all of those photos<br> family photos of personal photos things like that want to put away one you want to have more open walls basis it helps the room feel larger but also the personal photos it distracts buyers is the inevitably anybody time of somebody's winter home they're going to look at the pictures I want to see do I know that person or and they just send get caught up in looking at the photos always always want to move all the photos a lot of times people used to always for either family photos or just artwork but photos and are along the hall ways to make them feel smaller and make it feel a little more claustrophobic if you want to say but yeah family photos you always want to take down and put away okay. The feeling that if there's too many photos you know how can I feel like this could be my house<br> that lives there it's good to know the pricing so is so crucial to make sure we get the pricing correct up front and a lot of times the mistake people make is going with too high of a price so sometimes it's the sellers and the seller's feel that you know why lights better to start higher so I have some room to negotiate down sometimes it's the realtor said give them the wrong advice often times we see realtor is telling people what they want to hear just in order to get the deal knowing that they're going to have to reduce it later but basically in the pricing<br> if you price a home to high what's going to happen as it's going to sit on the market and that's you know one of the two reasons home doesn't sell it's either overpriced or there's some type of a problem with either the house or the way it usually it's the marketing in the way it shows would ties in the staging it's priced too high and you're sitting on the market and never going to have to do price reductions and then whether there's price reductions or there's just more time on the market would buy her see that then the interpretation is there the feeling is okay well they've been on the market for a while there going to be more flexible or there's I'm going to have a better opportunity to negotiate a better price and they're going to come in lower and then there were basically in more of a position of control in the negotiations were a few price it accurately at market value or even slightly below market value then as it hits the market people see it and okay this is a good deal<br> I'm interested in the goal is to price it accurately Market Atwells that you have multiple buyers that are interested in the property and create that situation a position where you have multiple offers and when we're in that position to be able to negotiate terms that are favorable for the cellar instead of the buyer having more control in the negotiations are having the upper hand in the negotiation of the people that you represented they said it was great because the person we selected wanted a 10-day escrow and they're going to pay cash so I don't have to worry about anyting so I think that's really cool and what's the last one also marketing so with the marketing what we like to say is there's a most agents or passive so they put it online and put a sign up front and then they just wait for something to happen and wait for buyers to come through we need an agent that's really going to be actively and aggressively marketing the property so through notifications throughout the<br> neighborhood and we do a pre-listing campaign so we like to go on the market on a Tuesday we're pushing marketing likes it through mail social media the internet the driving is much interest in the property before it actually goes live on Friday and then we start the showings and open house is over the weekend because we want to create a buzz and interest and excitement about the property during the first week in during the open house or just during the showing we want as many people coming through because the human psychology of if other people want it then it must be worth it and it must be a good opportunity so be it helps motivate people to take action quicker or more quickly<br> that's something I never thought of it that way but I can check you know if you have a volume people looking at a volume of people saying hey this looks nice this looks nice and you know it. I can see how I crates that buzz and people have that kind of that fear of missing out so if they like the home and it's been on the market for 3 weeks then I'll take time to make a decision because they feel like okay I've got a little bit of time but if it's just hit the market they see five other people looking at the property than the SEK okay I like the song that I might lose out to one of these other people I need to act quickly so I don't lose out on this opportunity it's great that's good to know so okay glad here's the big The Big E I need to ask you because I know how there's always somebody wants your help so how do people get in contact with you what website should they go to<br> so phone number is 619-500-3222<br> and then best website is my Som NY then-premier homes.com<br> so that's phone number guys 619-500-3222 and my Premier home so you just want to go there you get a hold of Glen got all this wonderful information for you and if you're looking to sell your house he's the guy to go to thank you so much for being on the show appreciate you I know our audience because every time you come on somebody's very happy cuz they appreciate that even though they might not be the same state you're in. They've they've learned something and you know I'd be probably get more out of their house so thanks again for being with us today and and hopefully he'll be back next time thanks again Steve have a great day all right we'll see you by all right he ain't want to stick with this would be right back with some more chatting with Steve more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the in an ounce of money does Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve Sexton on a saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton I don't welcome back to the saving wish to share we talked about the ins-and-outs of money you know what creates everything in the sun really so you having a happier or healthier relationship with money and I do want to talk to you a little bit about money once you understand a couple things that many people aren't talking about when it comes to our economy and that's the geopolitical tensions you know what I was reminded today and you know you don't want to forget about the geopolitical tensions and how they can directly affect our economy one areas as not being spoken about today's the financial media is it the shipping problems in the Red Sea today or ran she's another oil tanker link to the US you know what is a right at this moment the US have to make a decision of what they're going to do we've been talking about how the markets have been price with interest<br> cuts and things like that however soaring prices and shipping delays are about to surprise the Federal Reserve and the markets because it's another way that's going to create a problem with supply chain and increase the cost of things which means inflation<br> okay<br> and you know what the soaring prices and shipping delays you know what they're about to Fry's it a surprise and markets in the fed and especially if the solutions not found quickly shipping company right now we're diverting their vessels too much longer Ruth Etting time expenses you add that to the Panama Canal it's facing supply chain head winds due to drought and you know what width is you have a recipe for financial term up why is this important to everybody else listen to me because the Democrat for the people listen to me they're in a situation you know what you say hey simply put it will have a direct effect on your financial well-being we're not in 2003 or 2008 you're now the age review you've never been faced with these shoes which before did not truly affect your financial well-being because don't you know your lies house being fuelled by your income from a job if you don't<br> the job oh my God it creates a problem so it's really very important if you're in that retirement phaser about to retire make sure you have that purpose money in that purpose money is at short-term money that's going to create the income for you to support me 10 your lifestyle you know what anyting<br> creating a problem for that short-term money because time is the enemy of short-term money on the flip side you have that performance money okay that's at Grove stop OK Google what short terms is the enemy of performance because when you look at the market as long as you have enough time it will continue to grow to the key here is make sure you have her purse money to support and maintain your lifestyle make sure you have that performance money cuz it's going to go up and down but over time is always higher<br> you don't want to just have one and not have enough of others because it will adversely affect your lifestyle I want to thank you all for joining us today on saving with Steve I hope I'm part of some knowledge Glenn give me some wonderful tips on real estate and you know what will look forward to seeing you next time say say say helping will see you next time right here on Satan was Steve bye-bye<br> thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that's saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>